Joyou AG / Key word(s): Offer 14.02.2011 08:35 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Hamburg, 14 February 2011. Joyou AG has received the information that Grohe Asia AG, a newly established fully owned subsidiary of Grohe Holding GmbH, Hemer, intends to submit a takeover bid for all shares of Joyou AG for an offer price of EUR 13.50 per share. Grohe Asia AG informed Joyou AG that it has already secured irrevocable commitments as well as other undertakings from current Joyou AG shareholders securing voting rights of at least 30% in Joyou AG. Additionally, the major shareholders of the company, Mr. CAI, Jianshe and Mr. CAI, Jilin, both members of the executive board of Joyou AG, intend to enter into a long-term partnership agreement with Grohe Holding GmbH according to which Mr. CAI, Jianshe and Mr. CAI, Jilin would contribute a major part of their respective shares in Joyou AG (28.6% of Joyou AG share capital) into Grohe Asia AG against an issuance of new shares. Thus Mr. CAI, Jianshe and Mr. CAI, Jilin will directly and indirectly remain major shareholders of Joyou AG. As a consequence of this new cooperative structure, Joyou AG and the Grohe Group will intensify and further develop their existing business relationship, especially with regards to domestic and international sales and distribution both of Grohe and Joyou products, as well as technology transfer and component purchasing. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: About Joyou Joyou (ISIN DE000A0WMLD8, WKN A0WMLD, Ticker Symbol JY8) designs, produces and sells faucets and other sanitary ware products in China under its brand name 'Joyou' and is also engaged as a OEM/ODM-manufacturer for international brands and trading companies in the United States and Europe as well as other emerging markets. In 2009, Joyou was one of the leading single-brand manufacturers of bathroom, kitchen and other faucets in China in terms of revenues (according to BSRIA). Joyou has established an extensive distribution network in China with 3,596 retail points of sales as of 31 December 2010. Joyou's operating facilities are based in Nan'an near Quanzhou in Fujian Province in China. Joyou's five main product groups sold in its own brand business are bathroom faucets, kitchen products, shower products as well as other bathroom products and other faucets and sanitary hardware. In 2009, Joyou realised group revenues of EUR 172.3 million, an operating profit (EBIT) of EUR 39.0 million and a net profit of EUR 22.3 million employing on average 2,529 persons. For further information, please contact: Joyou AG Ian Oades, tel.: +86 595 8618 8888, ian.oades@joyou.net Kirchhoff Consult AG Jens Hecht, tel.: +49 40 60 91 86 0, jens.hecht@kirchhoff.de or visit the company website at: http://www.joyou.com 14.02.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Joyou AG Chilehaus A, Fischertwiete 2 20095 Hamburg Deutschland Phone: Fax: E-mail: ir@joyou.net Internet: www.joyou.de ISIN: DE000A0WMLD8 WKN: A0WMLD Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: Joyou AG: Intended takeover bid
| Source: EQS Group AG