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
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
* 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
* 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 Wim Goemaere, CFO
Tel. +32 9 324 24 24 Tel. +32 9 324 24 24
Or visit: www.devgen.com
This press release may contain forward-looking statements containing the words
"anticipates", "expects" , "intends", "plans", "estimates", "may" and
"continues" as well as similar expressions. Such forward looking statements may
involve known and unknown risks, uncertainties and other factors which might
cause the actual results, performance or achievements of Devgen to be materially
different from any future results or achievements expressed or implied by such
forward-looking statements. Factors that could cause or contribute to such
differences include, among others: agricultural risks and difficulties,
including weather factors, diseases and pests, the costs and requirements of
regulatory compliance and the speed with which approvals are received; public
acceptance of biotechnology products; political, economic and social
developments in countries where Devgen operates and other risks and factors
detailed in the company's most recent annual report.
These forward looking statements speak only as of the date of publication of
this document. Devgen disclaims any obligation to update such forward looking
statements in this document to reflect any change in its expectations,
conditions or circumstances on which such statement is based, unless required by
law or regulation. This document does not constitute, or form part of, any offer
or invitation to sell or issue, or any solicitation of any offer, to purchase or
subscribe for any securities issued by Devgen nv.
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other applicable laws; and
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originality of the information contained therein.
Source: Devgen via Thomson Reuters ONE