Highwave Optical Technologies Announces the Approval of the Acquisition of DA-LightCom During Today's Extraordinary General Meeting
Lannion, France (ots/PRNewswire)
Highwave Optical Technologies (Nouveau Marché, HGWO), a leading European technology supplier of active fiber based components and subsystems for the telecommunication, industrial and defence markets announced today the approval of the acquisition of DA-LightCom during the Extraordinary General Meeting.
The Company organized a third EGM today at its headquarters in Lannion. The extraordinary resolutions submitted during this meeting were similar to those submitted on the previous EGM called on January 10 and January 20 during which the necessary quorum has not been reached.
The participation rate during the EGM of February 17, 2005 was 30,6% to be compared with a necessary quorum of 25%. The EGM, then, could be normally held.
The present shareholders approved the acquisition of 100% of DA-LightCom as well as the issuance of new shares to remunerate this acquisition.
<< We are very satisfied of the positive conclusion of several months of efforts for the acquisition of DA-LightCom. Our shareholder supported our growth strategy and allowed us to achieve this transaction which is essential to the creation of a European leader in the optoelectronics component sector. As this major milestone has been reached, we will now work towards achieving the acquisition of Northlight Optronics, the former optoelectronics division of Ericsson and for which an Extraordinary General Meeting will be soon called" François Leraillez said.
<< I want to give my warm thanks to both our shareholders and staff. I want to thank our shareholders for their support and their significant interest in our company, as well as our staff for their dedication to share their ambition for Highwave with the shareholders. After these three weeks of intense communication, our efforts paid off, not only in terms of successful outcome of the EGM, but also in terms of a better external perception of the company." Sylvain Boj said.
About Highwave Optical Technologies
Founded in 1998, Highwave Optical Technologies is the European leader in the development, production and marketing of optical components and DWDM (Dense Wavelength Division Multiplexing) subsystems for the telecommunications industry. (DWDM is an advanced technology that increases the capacity of telecom networks). The company is based in Lannion, France. Following an initial public offering in June 2000, shares in Highwave Optical Technologies are traded on Paris Euronext (HGWO). More information is available at: http://www.Highwave-tech.com.
Contact:
Sylvain Boj, COO, Highwave Optical Technologies, +33-(0)2-96-04-20-00