Highwave Optical Technologies signs MOU for the acquisition of DA-LightCom

October 8, 2004

1 Min Read

LANNION, France -- Highwave Optical Technologies (NouveauMarché, HGWO), a leading technology supplier of active fiber based components and subsystems for the telecommunication Dense Wavelength Division Multiplexing (DWDM) systems, fiber laser industry, fiber optic sensors and defense markets, announced today the signing of a final agreement with the shareholders of DA-LightCom for the acquisition of 100% shares of the company.

This acquisition, the valuation of which would not exceed EUR 8.5 million, would be paid to DA-LightCom through the issuance of new Highwave shares.

This acquisition will also reinforce the group's cash position by an additional EUR 2.5 million after recapitalization of DA-LightCom by its current shareholders prior to the transaction. A complete description of the transaction will be presented to the shareholders of the company in a Document E which will be recorded by the Autorité des Marchés Financiers. The shareholders of the company will be invited to an extraordinary general meeting to approve the transaction.

The company mentions that the completion of this transaction is subject to certain conditions, including the following condition precedent: one or several shareholders of DA-LightCom may, after the abovementioned recapitalization of DA-LightCom, own more than one third of the capital of Highwave. As a result, those shareholders must obtain the delivery of a waiver by the Autorité des Marchés Financiers avoiding the obligation to make a public tender offer for acquiring 100% of the capital of the company or the confirmation by the Autorité des Marchés Financiers that the transaction will not trigger the obligation to make a public tender offer.

Highwave Optical Technologies

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