Belgium : Leading lingerie company increases stake in Top Form, HK

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Leading lingerie company increases stake in Top Form, HK

21
Aug '08

Last week, Van de Velde increased its participation in Top Form International from 16.37% to 23.3%. This increase took place at the share price of Top Form International.

The shares were purchased at an average unit price of 0.5661 HKD/share. The total cost of the operation represents a counter value of € 3.6 million.

With this, Van de Velde confirms its confidence in both the sustained future of Top Form International and the long-term relationship between both companies.

Presentation of Top Form International:
Top Form International is the largest OEM manufacturer of brassieres in the world (OEM or original equipment manufacturing) with manufacturing facilities in Thailand, in the Philippines and in China. Top Form International is listed on the Hong Kong stock exchange.

On 30 July 2008, Top Form International announced the acquisition of Ace Style Intimate Apparel Limited. Ace Style is one of the world's leading manufacturers of lingerie with own design (ODM or original design manufacturing) with manufacturing sites in China and in the Philippines.

Presentation of Van de Velde:
Van de Velde is a European premium player in the field of fashionable luxury lingerie. Van de Velde is committed to a long-term strategy of brand building and retail development around the concept of 'lingerie styling' (fit, style, fashion) worldwide. Van de Velde operates mainly across Europe and North America.

The results for the first half of 2008 will be announced on Friday 29 August before trade.

Van de Velde

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