Ghent - 21 April 2011 - In accordance with Article 14 of the Act of May 2, 2007 on the disclosure of major shareholdings in listed companies, Devgen nv hereby informs that it has received a shareholder notification from Madeli Participaties B.V.
On 19 April, 2011, Madeli Participaties B.V. declared to hold 2,052,476 Devgen shares or 8.46 % participation in Devgen nv. This concerns shares acquired on 13 April 2011 following the transfer of shares held by Mr. Maurits Cornelis de Ruiter, Mr. Wouter Pieter Johannes de Ruiter and Mr. Hendrik Dirk de Ruiter jr. to Madeli Participaties B.V., a company under their control.
For further details on the transparency declarations received by the company, reference is made to our website www.devgen.com (investor relations).
About Devgen nv
Devgen's mission is to deliver the next green revolution in rice to growers that cultivate 60m ha rice in India and S.E. Asia.
Devgen uses advanced biotechnology and molecular breeding technology to develop the Next Generation Hybrid Rice (NGHR) and crop protection solutions with a superior environmental profile:
- Devgen developed the next generation of hybrid rice, improving yield, seed productivity, grain quality, and tolerance to biotic and abiotic stress factors. Devgen strongly believes that this hybrid rice technology has the potential to drive the accelerated conversion of varietal rice to hybrid rice.
- Anticipating the need to increase insect resistance and drought/heat tolerance in rice to a level that is beyond what can be achieved with classical breeding, Devgen created a portfolio of biotech traits using own technology as well as in-licensed technologies.
- Devgen established an integrated seed business in India and Southeast Asia through which its rice crops and technologies reach the market.
- In India, Devgen complemented its hybrid rice business with geographically and seasonally complementary crops: hybrid sorghum, pearl millet and sunflower.
- In its Crop Protection unit, Devgen develops a novel nematicide, an agro-chemical product that protects crops from damage by parasitic nematodes. This product is sold in Turkey and in the US.
- Devgen innovates in crop protection research and environment induced stress tolerance for its own crops and providing technology to corporate partners.
Incorporated in 1997, Devgen has offices in Ghent (Belgium), and has subsidiaries in Singapore, Hyderabad (India), Yogyakarta (Indonesia), General Santos (Philippines) and Delaware (US), totaling about 280 employees.
For more information please contact:
Thierry Bogaert, CEO
Tel. +32 9 324 24 24
Wim Goemaere, CFO
Tel. +32 9 324 24 24
Or visit: www.devgen.com