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When they start building Volvos in China this stock may take off.
They will start selling Geelys through the Volvo dealerships in the USA & Europe, when they improve the Quality.
When the CEO started his business he was building refigerators.
i believe the state has a huge share in cherry so they wont go public
I am all about gelyf its now on its comback to 60 cents going to get 50% here if you get in now
My bad -
Wrong Board..........
http://finance.yahoo.com/q/is?s=cwlc.pk
Earnings statement
What is up with the declared dividend? In the past it shows to be issued but for $.00 a share. There is no value showed for the declared divend coming up too......
The board of directors of the Company (the “Board”) is pleased to announce that the total sales volume
of the Group for the month of February 2011 was 31,806 units, an increase of approximately 10.8%
over the same period last year, but was down approximately 30.3% from January 2011, primarily due
to less number of working days in February 2011 as a result of the Chinese New Year holiday in early
February. For easier comparison, the total sales volume in the first two months of 2011 was 77,440
units, up 6.7% from the same period last year.
During the month of February 2011, the Group’s top selling models were “Free Cruiser”, “Geely
Kingkong”, “Emgrand EC7 & EC8” and “Vision”. Their respective sales volumes were 7,736 units,
6,694 units, 5,624 units and 4,286 units.
Copied from Geely February 2011 Sales Announcement
The silence on this board is incredible
The chart here is gloomy -
finance.yahoo.com/echarts?s=GELYF.PK+Interactive#chart1:symbol=gelyf.pk;range=6m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Looking for ideas/reasons for this steady decline in PPS of GEELY
Anyone ?
probably just lack of PPS movement. I check it every so often out of wonder. I dont own any stock at the time.
Any idea why this board has all but dried-up?
Any idea why this board has all but dried-up?
Any idea why this board has all but dried-up?
Any idea why this board has all but dried-up?
How about that -
We broke the 50 cent barrier !!!!!
Anyone know what is pushing it higher ..........?
This one has only sneaked about 50cents for a short period of time and been STUCK-LIKE-GLUE in the 40-50 cent range, like what seems forever.
What will it take - ??
This is under their Hong Kong Ticker. I'm not what period those earnings are for or the shares listed. I do they borrowed over a billion US Dollars when they bought Volvo. But who knows how much Volvo will be worth once it becomes profitable again.
7.8 HK dollar = 1 US Dollar
http://www.bloomberg.com/apps/quote?ticker=175:HK
I also have been in for a long time, but have not sold my stake -
I am expecting (hoping) that their next earnings report is off the charts -
Any ideas on when it is coming out and what it will show ?
I bought this stock in late 2009 & I held from .06 up to .54 (I think). If they can turn Volvo around & get the Volvo plant built in China...The Chinese who are wealthy want luxury cars...Long term $$$
Also waiting for Chery to go public, if they ever do.
Tony -
It looks like it is just you and me - -
Do you know of any other boards that have more active posts for GEELY than this one ?
Jim
I hate to see you miss the boat -
If Geely does not move back to the .25 range, but keeps climbing, then you may have missed an opportunity at current levels.........
Hi Filman, to be honest sir I am not sure buddy witch way this is going in the year of 2011 I am Incline to say I feel GELYF Is going higher In the year of 2011, Geely Automobile Holdings Limited, an investment holding company, engages in the manufacture and sale of automobiles primarily in the People's Republic of China. and basically the Chinese government Is also holding Geely PPS down also they don't want them growing to far to fast In there economy, this Is a longer term play here you have to keep In mind.
So far we got Goldman Sachs Group Inc, *Hong Kong Group Division Goldman Sachs Group, Inc. (The)
(NYSE: GS ) and Citigroup, Inc. Common Stock
(NYSE: C ) are the major buyers so far.
Basically I am waiting on Morgan Chase & Company (nyse: JPM) James S. Dimon (CEO) Enter the picture you will know you are well on your way then. also to start there buying on Geely Automobile Holding Ltd GEELY AUTO HLDGS ADR
And Morgan Stanley Mr. James Gorman , Chief Exec. Officer, Pres to start there company buying on Geely Automobile Holding Ltd GEELY AUTO HLDGS ADR
The other big guys to enter the picture, and their we will be some medium to small Institutional buyers as well and the People's Republic of China government to buy and own more.
Geely Automobile Holdings Limited, an investment holding company, engages in the manufacture and sale of automobiles primarily in the People's Republic of China.
I sold at .58 .59 and .60
I want GELYF back at .10 to .25 so I can reload the boat all over again. I love money and greed is good I am a U.S. of America Capitalistic of the Republic Party member, I love big profits.
At lease I am honest about it.
Read these two web link post they may help to understand GELYF a little better.
**Please click here and read.
1* - more info longer term.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57928326
2* i insight to more info.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56944255
Facts and DD to remember here, Originally that this is a Goldman Sachs Group Inc, *Hong Kong Group Division base penny play, You have to go and read through the old news, filings, and headline. The fair hair Golden boy, Good oh boy # 1 Goldman Sachs Group Inc (nyse: GS) well that was good enough for me back In 2009 / April when GELYF was trading at around .08 per share, and the golden word symbols of GS was talk about In a GELYF PR that was good enough for me right then an d there.
And they are letting In the good old boys a CITIBANK, N.A. just read below I think they will take this bad boy to $ 1.00 + plus or maybe to $ 5.00 + plus In the 2011 & 2012 Quarters to come, In my humble opinion. Good oh boy # 2 Citigroup Inc (nyse: C)
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6580909
One by one the big boys are lining there self up with China and the Geely Automotive Group, When you see good oh boy # 3 JP Morgan Chase & Company (nyse: JPM) James S. Dimon (CEO) Enter the picture you will know you are well on your way then.
may you get it your way and GELYF goes much higher.
personal I feel we will see from .75 to around 1.00 pps, this year and next year. jmho
and this is all just my opinion, thanks.
god bless and always the best of trading.
1* - more info longer term.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57928326
2* i insight to more info.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56944255
1
http://202.155.223.21/~geelmhk1/en/index.html
2
http://www.otcmarkets.com/stock/GELYY/news
3
http://finance.yahoo.com/q?s=GELYF.PK&ql=0
4
http://www.barchart.com/opinions/stocks/GELYF
5
http://www.barchart.com/detailedquote/stocks/GELYF
6
http://www.nasdaq.com/aspx/infoquotes.aspx?symbol=GELYF&selected=GELYF
7*
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001193805-09-002111.txt&FilePath=\2009\11\03\&CoName=GEELY+AUTOMOBILE+HOLDINGS+LIMITED%2FADR&FormType=F-6EF&RcvdDate=11%2F3%2F2009&pdf=
8**
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6580909
9
http://www.knobias.com/individual/public/quote.htm?ticker=GELYY
10
http://online.wsj.com/public/quotes/main.html?symbol=GELYF&type=nnotc&mod=DNH_S
11
http://www.marketwatch.com/investing/stock/gelyy
12
http://online.wsj.com/quotes/main.html?mod=search_ticker&symbol=GELYY
13
http://markets.ft.com/tearsheets/performance.asp?s=gelyy&ftsearchType=type_quotes&vsc_appId=ts&ftsite=FTCOM&searchtype=equity&searchOption=equity
14
http://money.cnn.com/quote/quote.html?symb=GELYY
15
http://online.barrons.com/public/quotes/main.html?symbol=gelyy&mod=DNH_S
16
http://finance.yahoo.com/q?s=GELYY.PK&ql=0
17
http://seekingalpha.com/symbol/gelyf.pk?source=search_general&s=gelyf.pk
18
GEELY AUTO HLDGS ADR (GELYY.PK) More Info.
http://finance.yahoo.com/q?s=GELYY.PK&ql=0
Hi Jim to be honest sir I am not sure buddy witch way this is going in the year of 2011 I am Incline to say I feel GELYF Is going higher In the year of 2011, Geely Automobile Holdings Limited, an investment holding company, engages in the manufacture and sale of automobiles primarily in the People's Republic of China. and basically the Chinese government Is also holding Geely PPS down also they don't want them growing to far to fast In there economy, this Is a longer term play here you have to keep In mind.
So far we got Goldman Sachs Group Inc, *Hong Kong Group Division Goldman Sachs Group, Inc. (The)
(NYSE: GS ) and Citigroup, Inc. Common Stock
(NYSE: C ) are the major buyers so far.
Basically I am waiting on Morgan Chase & Company (nyse: JPM) James S. Dimon (CEO) Enter the picture you will know you are well on your way then. also to start there buying on Geely Automobile Holding Ltd GEELY AUTO HLDGS ADR
And Morgan Stanley Mr. James Gorman , Chief Exec. Officer, Pres to start there company buying on Geely Automobile Holding Ltd GEELY AUTO HLDGS ADR
The other big guys to enter the picture, and their we will be some medium to small Institutional buyers as well and the People's Republic of China government to buy and own more.
Geely Automobile Holdings Limited, an investment holding company, engages in the manufacture and sale of automobiles primarily in the People's Republic of China.
I sold at .58 .59 and .60
I want GELYF back at .10 to .25 so I can reload the boat all over again. I love money and greed is good I am a U.S. of America Capitalistic of the Republic Party member, I love big profits.
At lease I am honest about it.
Read these two web link post they may help to understand GELYF a little better.
**Please click here and read.
1* - more info longer term.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57928326
2* i insight to more info.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56944255
Facts and DD to remember here, Originally that this is a Goldman Sachs Group Inc, *Hong Kong Group Division base penny play, You have to go and read through the old news, filings, and headline. The fair hair Golden boy, Good oh boy # 1 Goldman Sachs Group Inc (nyse: GS) well that was good enough for me back In 2009 / April when GELYF was trading at around .08 per share, and the golden word symbols of GS was talk about In a GELYF PR that was good enough for me right then an d there.
And they are letting In the good old boys a CITIBANK, N.A. just read below I think they will take this bad boy to $ 1.00 + plus or maybe to $ 5.00 + plus In the 2011 & 2012 Quarters to come, In my humble opinion. Good oh boy # 2 Citigroup Inc (nyse: C)
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6580909
One by one the big boys are lining there self up with China and the Geely Automotive Group, When you see good oh boy # 3 JP Morgan Chase & Company (nyse: JPM) James S. Dimon (CEO) Enter the picture you will know you are well on your way then.
may you get it your way and GELYF goes much higher.
personal I feel we will see from .75 to around 1.00 pps, this year and next year. jmho
and this is all just my opinion, thanks.
god bless and always the best of trading.
1* - more info longer term.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57928326
2* i insight to more info.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56944255
1
http://202.155.223.21/~geelmhk1/en/index.html
2
http://www.otcmarkets.com/stock/GELYY/news
3
http://finance.yahoo.com/q?s=GELYF.PK&ql=0
4
http://www.barchart.com/opinions/stocks/GELYF
5
http://www.barchart.com/detailedquote/stocks/GELYF
6
http://www.nasdaq.com/aspx/infoquotes.aspx?symbol=GELYF&selected=GELYF
7*
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001193805-09-002111.txt&FilePath=\2009\11\03\&CoName=GEELY+AUTOMOBILE+HOLDINGS+LIMITED%2FADR&FormType=F-6EF&RcvdDate=11%2F3%2F2009&pdf=
8**
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6580909
9
http://www.knobias.com/individual/public/quote.htm?ticker=GELYY
10
http://online.wsj.com/public/quotes/main.html?symbol=GELYF&type=nnotc&mod=DNH_S
11
http://www.marketwatch.com/investing/stock/gelyy
12
http://online.wsj.com/quotes/main.html?mod=search_ticker&symbol=GELYY
13
http://markets.ft.com/tearsheets/performance.asp?s=gelyy&ftsearchType=type_quotes&vsc_appId=ts&ftsite=FTCOM&searchtype=equity&searchOption=equity
14
http://money.cnn.com/quote/quote.html?symb=GELYY
15
http://online.barrons.com/public/quotes/main.html?symbol=gelyy&mod=DNH_S
16
http://finance.yahoo.com/q?s=GELYY.PK&ql=0
17
http://seekingalpha.com/symbol/gelyf.pk?source=search_general&s=gelyf.pk
18
GEELY AUTO HLDGS ADR (GELYY.PK) More Info.
http://finance.yahoo.com/q?s=GELYY.PK&ql=0
So Tony -
What say you -
Thanks - Jim
GELYY News Geely to Develop Green Energy Cars with Foxconn
Thursday, January 13, 2011 6:19 AM
Scottrade.com
This email is compliments of Scottrade.com
News for 'GELYY' - (Geely to Develop Green Energy Cars with Foxconn)
HONG KONG, Jan 13, 2011 (SinoCast Daily Business Beat via COMTEX) -- China's
largest private carmaker Geely Automobile Holdings Ltd. (SEHK: 0175) yesterday
revealed that its sales volume rose 27% from a year earlier to 415,000 vehicles
in the 2010 full year, surpassing that target of 400,000 vehicles set at the
beginning of the year. Its sales growth for 2011 is expected to slow down to
18%.
Meanwhile, the top management of Geely discloses that the company has contacted
with Foxconn Technology Group and United Microelectronics Corporation (UMC) for
the joint development of smart cars and renewable energy vehicles.
Yang Jian, president of Geely Holding Group, the parent of Geely Automobile,
unveils that the company's sales volume hit 800,000 vehicles last year,
including that from Volvo, boosting its operating revenues to more than CNY 100
billion. He predicts that the sales volume will reach 2 million vehicles by
2015.
In 2010, Geely ranked number eight among Chinese sedan manufacturers, when the
country's sales volume of such cars under proprietary brands totaled 2.933
million vehicles.
Source: www.cb.com.cn (January 13, 2011)
Copyright 2008 SinoCast Daily Business Beat. All rights reserved
-0-
KEYWORD: HONG KONG
INDUSTRY KEYWORD: Transportation & automobile
SUBJECT CODE: Automobiles
Motor Vehicles
SinoCast China Business Daily news
sales volume
smart car
renewable energy
sedan
brand
Source: Comtex Wall Street News
Tony, I'd also be interested in hearing your thoughts on Jim's question
Thanks
Hi again Tony -
I see you were on again and posting.....
My Question still stands:
Tony,
Your posts are positive and appreciated.
I am long on GELYF -
Question:
With all the positive things regarding GELYF, why (in your opinion) does the PPS continue to languish ?
It is frustration to look back just a few months and see the slide back into the 40 cent range.
You must have an opinion -- after posting over 30 times since last November - please share ---
Again thanks - Jim
GELYY News DJ FOCUS: French, German Auto Makers End 2010 In High Gear.
Tuesday, January 11, 2011 12:30 AM
This email is compliments of Scottrade.com
News for 'GELYY' - (=DJ FOCUS: French, German Auto Makers End 2010 In High Gear)
(This story was originally published Monday)
By David Pearson
Of DOW JONES NEWSWIRES
http://www.djnewsplus.com/article/DN-CO-20110110-010580.html?mod=J1&a=T+Wire&h=FOCUS%3A+French%2C+German+Auto+Makers+End+2010+In+High+Gear+
PARIS (Dow Jones)--Volume car makers in France and Germany ended 2010 in high gear as sales in Europe held up much better than expected due in part to government incentives, continuing strong demand from outside the region and the weak comparative data for 2009.
Renault SA (RNO.FR), Volkswagen AG (VOW.XE) and PSA Peugeot-Citroen (UG.FR) have turned in sparkling 2010 sales data that put to shame the pessimistic forecasts made a year ago as they were licking their wounds after the market collapse of 2009.
Renault and Volkswagen reported their global sales of cars and light-goods vehicles surged 14% last year compared with 2009, and both said their 2010 sales were at record levels.
Renault reported sales of 2.6 million vehicles last year, boosted by a 26% surge outside its core markets in Europe that traditionally provide the bulk of its sales and profits. Last year's total topped a previous record for the company set in 2005.
Martin Winterkorn, chief executive of Volkswagen, Europe's largest car maker by volume, said over the weekend in Detroit his group sold 7.14 million cars and trucks in 2010, fuelled by strong growth in China and Brazil.
Last week, Peugeot-Citroen Chief Executive Philippe Varin said his group sold 3.6 million vehicles in 2010, an increase of 13% from the 3.19 million of 2011.
The big European car makers are relatively sanguine about market prospects for the current year. Renault expects global automobile sales growth to moderate after last year's 12% surge, but still is projecting that the total market will increase by more than 4% compared to 2010. Winterkorn didn't give a specific sales outlook for 2011, apart from describing it as a "key year" for his company.
Auto industry analysts expect the European market will get off to a slow start, but will pick up later in the year. Nomura International is projecting 5% growth in Germany, European single-biggest market, and predicts the French market is likely to shrink 8% year-on-year.
Sales in France were surprisingly robust in December as buyers rushed to order vehicles prior to the end of a scrapping initiative at the end of the year that has bolstered sales over the past two years. Renault's order intake in France was 30% above that of the same month of 2009, and this will show up in deliveries in the first quarter of 2011, Renault's head of sales and marketing Jerome Stoll told reporters. He said this effect will allow European sales in the first quarter to be relatively flat, but sales should drift lower after that. For all of 2011, Renault expects European sales to be flat at best and down 2% at worst.
With sales sluggish at best in their core European markets, car makers are on a drive to tap into faster-growing regions such as Latin America, China and India.
Volkswagen still harbors an ambition to knock Toyota Motor Corp. (7203.TO) off its perch as the world's leading car maker by volume by 2018, and is aiming to triple its sales in the U.S., while ramping up its presence in China, Russia and Brazil.
Renault doesn't have a presence in the U.S. and sells only a small number of cars in China. However, it, too, is targeting continued robust growth in Brazil and Russia, where its sales surged by one-third last year. Renault expects non-European markets will account for 43% of its sales this year, up from 37% in 2010.
Premium-car makers also were riding the wave of strong demand in 2010 compared to 2009 when private and corporate buyers held back spending to save cash.
Germany's BMW AG (BMW.XE) reported a 14% rise in sales last year to 1.46 million cars and said it expects to top 1.5 million vehicles in 2011. Sweden's Volvo Car Corp., now a unit of China's Zhejiang Geely Holding Group following its sales by Ford Motor Co. (F), said its sales rose 11% last year, while Volkswagen's Audi brand sold 1.09 million cars, up 15% from 2009.
Daimler AG (DAI.XE) Chief Executive Dieter Zetsche told reporters Sunday that vehicles sales in 2010 were up 15% year-on-year and predicted global demand for new cars in 2011 will rise by roughly about 6%.
Auto analysts point out that last year's impressive sales growth figures won't necessarily be reflected in the 2010 earnings data that will be released next month. Car makers in Europe have been offering buyers massive discounts in a bid to preserve market shares. With the market expected to remain sluggish at best this year, margins are likely to remain under pressure.
-By David Pearson, Dow Jones Newswires; +331 4017 1740; david.pearson@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=j%2By50WwhV5Z5wzldGfDyGQ%3D%3D. You can use this link on the day this article is published and the following day.
http://www.djnewsplus.com/article/DN-CO-20110110-010580.html?mod=J1&a=T+Wire&h=FOCUS%3A+French%2C+German+Auto+Makers+End+2010+In+High+Gear+
(END) Dow Jones Newswires
January 11, 2011 00:30 ET (05:30 GMT)
Copyright (c) 2011 Dow Jones & Company, Inc.- - 12 30 AM EST 01-11-11
Source: DJ Broad Tape
Tony,
Your posts are positive and appreciated.
I am long on GELYF -
Question:
With all the positive things regarding GELYF, why (in your opinion) does the PPS continue to languish ?
It is frustration to look back just a few months and see the slide back into the 40 cent range.
You must have an opinion -- after posting over 30 times since last November - please share ---
Again thanks - Jim
GELYY News DJ Volvo Car Corporation 2010 Car Sales +11.2% Vs 2009.
Friday, January 7, 2011 8:05 AM
Scottrade.com
This email is compliments of Scottrade.com
News for 'GELYY' - (DJ Volvo Car Corporation 2010 Car Sales +11.2% Vs 2009)
DOW JONES NEWSWIRES
Volvo Car Corporation Friday said its global sales in 2010 totalled 373,525 cars, an increase of 11.2% compared to 2009.
http://online.wsj.com/public/quotes/main.html?symbol=GELYF&type=nnotc&mod=DNH_S
MAIN FACTS:
- Volvo said it returned to profit in the first quarter of 2010.
- In China and Nordic Europe sales increased by 36.2% and 29% respectively, but U.S. sales fell 12.2%.
- In 2010, Volvos largest market by sales was the U.S., followed by Sweden and the UK.
- Last year Volvo sold 53,952 cars in the U.S., 52,894 cars in Sweden and 37,940 cars in the UK.
- Sales in China amounted to 30,522 cars making it the fourth largest market by sales.
-By Stockholm Bureau, Dow Jones Newswires; +46-8-5451-3090; djnews.stockholm@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=8aVk1jmv2F5zzXh0d%2FBztA%3D%3D. You can use this link on the day this article is published and the following day.
http://online.wsj.com/public/quotes/main.html?symbol=GELYF&type=nnotc&mod=DNH_S
(END) Dow Jones Newswires
January 07, 2011 08:05 ET (13:05 GMT)
Copyright (c) 2011 Dow Jones & Company, Inc.- - 08 05 AM EST 01-07-11
Source: DJ Broad Tape
Read the 1st paragraph of URL -
http://seekingalpha.com/article/243620-automobile-production-china-vs-u-s?source=yahoo
Now can anyone tell me why GELYF is taking a dive ?????
Thanks - Jim
WSJ-CORRECT:UPDATE:Swedish Govt Provides SEK3.55B Guarantees To Volvo
* DECEMBER 22, 2010, 7:20 A.M. ET
more in Business »
http://online.wsj.com/article/BT-CO-20101222-704545.html?mod=wsjcrmain
http://online.wsj.com/article/BT-CO-20101222-704545.html?mod=wsjcrmain
("=UPDATE: Swedish Govt Provides SEK3.55B Guarantees To Volvo," at 1130 GMT, misstated that Volvo Cars is owned by China's Geely Automobile Holding Ltd. in the first paragraph. The error also appeared in "Swedish Government Provides Guarantees Of SEK3.5B To Volvo Cars," AT 1037 GMT. The correct version follows:)
STOCKHOLM (Dow Jones)--The Swedish government said Wednesday it will provide state guarantees of 3.55 billion Swedish kronor ($514 million) to secure the European Investment Bank's loan to Sweden-based car maker Volvo Cars, owned by Chinese ...
http://online.wsj.com/article/BT-CO-20101222-704545.html?mod=wsjcrmain
http://online.wsj.com/article/BT-CO-20101222-704545.html?mod=wsjcrmain
GELYY News DJ UPDATE: Swedish Govt Provides SEK3.55B Guarantees To Volvo.
Wednesday, December 22, 2010 6:30 AM
Scottrade.com
This email is compliments of Scottrade.com
News for 'GELYY' - (=DJ UPDATE: Swedish Govt Provides SEK3.55B Guarantees To Volvo)
http://online.wsj.com/article/BT-CO-20101222-703913.html?mod=wsjcrmain
http://online.wsj.com/article/BT-CO-20101222-703913.html?mod=wsjcrmain
(Adds details, Volvo comments.)
By Jens Hansegard and Sven Grundberg
Of DOW JONES NEWSWIRES
STOCKHOLM (Dow Jones)--The Swedish government said Wednesday it will provide state guarantees of 3.55 billion Swedish kronor ($514 million) to secure the European Investment Bank's loan to Sweden-based car maker Volvo Cars, owned by China's Geely Automobile Holding Ltd. (0175.HK).
The previous negotiations for Volvo Cars' EIB loans were put on hold in the spring when Volvo Cars was sold to the Chinese automaker. The Swedish government wanted a clearer picture of Volvo Cars' ownership structure before it continued negotiations.
Volvo Cars had initially asked for some EUR600 million in loans from the EIB. The sum it will receive is substantially smaller. Anders Karrberg, executive director of governmental affairs at Volvo Cars, said "much has happened" since Volvo Cars first applied for EIB loans.
"We asked for a larger loan in May this year. However, since that time we have gotten a new board of directors, a new chief executive and new a owner. This also means we have re-evaluated our financing strategy. The amount agreed upon today is what we asked for," Karrberg said.
Karrberg said Volvo Cars plans to use the loans for a number of environmental projects that are either ongoing or about to be launched, such as new product developments and reducing CO2 emissions. However, the company does not plan to hire additional employees as a consequence of the loan agreement with EIB and the Swedish Government.
The next stage of the loan process is an agreement between the Swedish National Debt Office and Volvo regarding the terms of the loan guarantees. Volvo Cars expects to sign an agreement with the National Debt Office on Wednesday.
"We will receive the loan in tranches as from early next year," Karrberg said.
According to Enterprise Minister Maud Olofsson, the Swedish state has spent some SEK12 billion aiding the automotive industry during the economic downturn. Olofsson added that it seems as if several of the companies within the Swedish automotive industry are getting back on track and that the need for aid is not as pressing as before.
"It feels more comfortable being the responsible minister for this area now than it did one year ago," Olofsson said.
-By Jens Hansegard and Sven Grundberg, Dow Jones Newswires; +46-8-5451-3095; jens.hansegard@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zWel62OgHaw6Pv0p6HXkJg%3D%3D. You can use this link on the day this article is published and the following day.
http://online.wsj.com/article/BT-CO-20101222-703913.html?mod=wsjcrmain
http://online.wsj.com/article/BT-CO-20101222-703913.html?mod=wsjcrmain
(END) Dow Jones Newswires
December 22, 2010 06:30 ET (11:30 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.- - 06 30 AM EST 12-22-10
Source: DJ Broad Tape
GELYY News DJ Swedish Government Provides Guarantees Of SEK3.5B To Volvo Cars.
Wednesday, December 22, 2010 5:38 AM
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STOCKHOLM (Dow Jones)--The Swedish government said Wednesday it will provide state guarantees of 3.5 billion Swedish kronor ($513.7 million) to secure the European Investment Bank's loan to Sweden-based car maker Volvo Cars, owned by Geely Automobile Holding Ltd. (0175.HK).
Last week the European Commission approved the terms of the Swedish government's state guarantees to Volvo Cars.
The previous negotiations for Volvo Cars' EIB loans were put on hold in the spring when Volvo Cars was sold to the Chinese automaker. The Swedish government wanted a clearer picture of Volvo Cars' ownership structure before it continued negotiations.
"It seems as if several of the companies within the Swedish automotive industry are getting back on track with companies, such as truck-makers Volvo AB (VOLV-B.SK) and Scania AB (SCV-A.SK) posting rising sales," Enterprise Minister Maud Olofsson said during a press briefing, adding that the Swedish government has spent some SEK12 billion aiding the automotive industry during the economic downturn.
"It feels more comfortable being the responsible minister for this area now than it did one year ago," Olofsson added.
Speaking to Dow Jones Newswires Nov. 11, Volvo corporate spokesman Per-Ake Froberg said Volvo Cars plans to use the loans for a number of environmental projects that are either ongoing or about to be launched.
-By Jens Hansegard and Sven Grundberg, Dow Jones Newswires; +46-8-5451-3095; jens.hansegard@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zWel62OgHaw6Pv0p6HXkJg%3D%3D. You can use this link on the day this article is published and the following day.
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(END) Dow Jones Newswires
December 22, 2010 05:37 ET (10:37 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.- - 05 37 AM EST 12-22-10
Source: DJ Broad Tape
GELYY News *DJ Swedish Govt: Gives Volvo EIB Loan Guarantees ...
Wednesday, December 22, 2010 5:03 AM
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(MORE TO FOLLOW) Dow Jones Newswires
December 22, 2010 05:03 ET (10:03 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.- - 05 03 AM EST 12-22-10
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GELYY News DJ Swedish Govt Decision On Guarantees To Volvo Ca...
Wednesday, December 22, 2010 3:16 AM
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News for 'GELYY' - (DJ Swedish Govt Decision On Guarantees To Volvo Cars Wednesday)
STOCKHOLM (Dow Jones)--The Swedish government said it will present its decision regarding state guarantees for the European Investment Bank's EUR600 million loan to car maker Volvo PV at 1000 GMT, Wednesday.
Last week the European Union Commission officially approved the terms of the Swedish government's state guarantees to Volvo Cars, the Sweden-based car maker that is owned by China's Geely Automobile Holding Ltd. (0175.HK).
The EIB loans to Volvo are conditional on the Swedish state guaranteeing the entire loan sum in return for collateral provided by Volvo.
The previous negotiations for Volvo Cars' EIB loans were put on hold this spring when Volvo Cars was sold to Chinese automaker Geely. The Swedish government wanted a clearer picture of Volvo Cars' ownership structure before it continued negotiations.
Speaking to Dow Jones Newswires on Nov. 11, Volvo corporate spokesman Per-Ake Froberg said Volvo Cars plans to use the loans for a number of environmental projects that are either ongoing or about to be launched.
-By Jens Hansegard and Sven Grundberg, Dow Jones Newswires; +46-8-5451-3098; sven.grundberg@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zWel62OgHaw6Pv0p6HXkJg%3D%3D. You can use this link on the day this article is published and the following day.
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(END) Dow Jones Newswires
December 22, 2010 03:16 ET (08:16 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.- - 03 16 AM EST 12-22-10
Source: DJ Broad Tape
GELYY News DJ Swedish Govt: EU Approves Guarantees For Volvo Cars EIB* Loan.
Thursday, December 16, 2010 7:11 AM
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DOW JONES NEWSWIRES
STOCKHOLM (Dow Jones)--The EU Commission has approved the terms of the Swedish government's state guarantees for the European Investment Bank's loan to car maker Volvo PV, owned by China's Geely Automobile Holding Ltd. (0175.HK), said the Swedish government Thursday.
The European Investment Bank, or EIB, loans are conditional on the Swedish state guaranteeing the entire loan sum in return for collateral provided by Volvo.
The next stage of the loan process is negotiation between the Swedish National Debt Office and Volvo regarding the terms of the loan guarantees, in addition to the Swedish government's approval.
-By Jens Hansegard, Dow Jones Newswires; +46-8-5451-3095; jens.hansegard@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=FSM3dMMbyyGvy3WUbB%2Fxjw%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
December 16, 2010 07:11 ET (12:11 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.- - 07 11 AM EST 12-16-10
Source: DJ Broad Tape
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GELYY News *DJ Swedish Govt: Volvo Cars Has To Provide Collat...
Thursday, December 16, 2010 6:55 AM
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December 16, 2010 06:55 ET (11:55 GMT)
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GELYY News *DJ Swedish Govt: EIB Requires Swedish State To Gu...
Thursday, December 16, 2010 6:54 AM
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December 16, 2010 06:54 ET (11:54 GMT)
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GELYY News *DJ Swedish Govt: EU Approves Guarantees For Volvo...
Thursday, December 16, 2010 6:52 AM
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News for 'GELYY' - (*DJ Swedish Govt: EU Approves Guarantees For Volvo Cars EIB Loan)
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December 16, 2010 06:52 ET (11:52 GMT)
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12/09/2010 (17:31 ET) GELYY: Filed New Form F-6EF, ADR Auto-Effective Registration - Edgar
http://www.knobias.com/individual/public/quote.htm?ticker=GELYY
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM F-6
REGISTRATION STATEMENT
Under
THE SECURITIES ACT OF 1933
For American Depositary Shares Evidenced by American Depositary Receipts
________________________________
Geely Automobile Holdings Limited
(Exact name of Issuer of deposited securities as specified in its charter)
Hong Kong
(Jurisdiction of Incorporation or organization of Issuer)
________________________________
DEUTSCHE BANK TRUST COMPANY AMERICAS
(Exact name of depositary as specified in its charter)
60 Wall Street, New York, New York 10005
Tel. No.: (212) 250-9100
(Address, including zip code, and telephone number of depositary’s principal offices)
________________________________
DEUTSCHE BANK TRUST COMPANY AMERICAS
60 Wall Street
New York, New York 10005
(212) 250-9100
(Address, including zip code, and telephone number of agent for service)
________________________________
Copy to:
DEUTSCHE BANK TRUST COMPANY AMERICAS
60 Wall Street
New York, New York 10005
________________________________
It is proposed that this filing become effective under Rule 466
x
o
immediately upon filing
on (Date) at (Time)
If a separate registration statement has been filed to register the deposited shares, check the following box. o
CALCULATION OF REGISTRATION FEE
Title of Each Class of
Securities to be Registered
Amount
to be
Registered
Proposed
Maximum
Offering
Price Per Unit(1)
Proposed
Maximum
Aggregate
Offering
Price(2)
Amount of
Registration
Fee
American Depositary Shares evidenced by American Depositary Receipts, each American Depositary Share representing 20 ordinary shares of Geely Automobile Holdings Limited
50,000,000
$0.05
$2,500,000
$178.25
(1)
Each unit represents one American Depositary Share.
(2)
Estimated solely for the purpose of calculating the registration fee. Pursuant to Rule 457(k), such estimate is computed on the basis of the maximum aggregate fees or charges to be imposed in connection with the issuance of such Receipts evidencing such American Depositary Shares.
PART I
INFORMATION REQUIRED IN PROSPECTUS
Item 1. DESCRIPTION OF SECURITIES TO BE REGISTERED
Item Number and Caption
Location in Form of American Depositary
Receipt Filed Herewith as Prospectus
(1) Name and address of Depositary
Introductory paragraph
(2) Title of American Depositary Receipts and identity of deposited securities Face of American Depositary Receipt, top center
Terms of Deposit:
(i)
Amount of deposited securities represented by one unit of American Depositary Shares
Face of American Depositary Receipt, upper right corner
(ii) Procedure for voting, if any, the deposited securities
Articles (12) and (14)
(iii) Collection and distribution of dividends
Article (13)
(iv) Transmission of notices, reports and proxy soliciting material Articles (11) and (12)
(v) Sale or exercise of rights
Articles (13) and (14)
(vi) Deposit or sale of securities resulting from dividends, splits or plans of reorganization Articles (13) and (16)
(vii) Amendment, extension or termination of the Deposit Agreement Articles (18) and (19)
(viii) Rights of holders of receipts to inspect the transfer books of the Depositary and the list of Holders of receipts Article (3)
(ix)
Restrictions upon the right to deposit or withdraw the underlying securities
Articles (1), (2), (4), (6), (15), (16) and (17)
(x) Limitation upon the liability of the Depositary Introductory paragraph and Articles (1), (2), (4), (7), (16) and (17)
(3) Fees and Charges
Article (20)
Item 2. AVAILABLE INFORMATION
Item Number and Caption
Location in Form of American Depositary
Receipt Filed Herewith as Prospectus
(a) Statement that as of the date of the establishment of the program for issuance of Receipts by the Depositary, the Depositary had a good faith belief (after limited investigation), that the issuer of the Deposited Securities publishes information in English required to maintain the exemption from registration under Rule 12g3-2(b) under the Securities Exchange Act of 1934 on its Internet Web site (with the location of such Internet Web site) or through an electronic information delivery system generally available to the public in its primary trading market
Article (9)
I-2
Prospectus
THIS PAGE AND THE FORM OF AMERICAN DEPOSITARY RECEIPT ATTACHED HERETO AS EXHIBIT (A) CONSTITUTE THE PROSPECTUS RELATING TO SUCH AMERICAN DEPOSITARY RECEIPTS, IN ACCORDANCE WITH GENERAL INSTRUCTION III.B OF FORM F-6 OF THE SECURITIES AND EXCHANGE COMMISSION
I-3
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
Item 3. EXHIBITS
(a) Copy of Agreement - The Agreement between Deutsche Bank Trust Company Americas, as depositary (the "Depositary"), and all holders from time to time of American Depositary Receipts evidencing American Depositary Shares registered hereunder is contained in the form of the American Depositary Receipt itself, constituting the Prospectus filed as a part of this Registration Statement.
(b) Any other agreement, to which the Depositary is a party, relating to the issuance of the Depositary Shares registered hereby or custody of the deposited securities represented thereby. - None.
(c) Any material contract relating to the deposited securities between the Depositary and the issuer of the deposited securities in effect at any time within the last three years. - None.
(d) Opinion of counsel to the Depositary as to the legality of the securities to be registered.
(e) Certification under Rule 466.
Item 4. UNDERTAKINGS
(a) The Depositary hereby undertakes to make available at the principal office of the Depositary in the United States, for inspection by holders of the Receipts, any reports and communications received from the issuer of the deposited securities which are both (1) received by the Depositary as the holder of the deposited securities; and (2) made generally available to the holders of the underlying securities by the issuer.
(b) If the amount of fees charged is not disclosed in the prospectus, the Depositary undertakes to prepare a separate document stating the amount of any fee charged and describing the service for which it is charged and to deliver promptly a copy of such fee schedule without charge to anyone upon request. The Depositary undertakes to notify each registered holder of a Receipt thirty days before any change in the fee schedule.
II-1
SIGNATURE
Pursuant to the requirements of the Securities Act of 1933, as amended, Deutsche Bank Trust Company Americas, on behalf of the legal entity created by the agreement for the issuance of American Depositary Shares, certifies that it has reasonable grounds to believe that all of the requirements for filing on Form F-6 are met and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on December 9, 2010.
Legal entity created by the agreement for the issuance of American Depositary Receipts evidencing American Depositary Shares for shares of the foreign private issuer whose name is set forth on the facing page of this Registration Statement on Form F-6
By:
DEUTSCHE BANK TRUST COMPANY
AMERICAS, Depositary
By: /s/ James Kelly
Name:
James Kelly
Title:
Vice President
By:
/s/ Michael Fitzpatrick
Name:
Michael Fitzpatrick
Title: Vice President
II-2
INDEX TO EXHIBITS
Exhibit
Number
(a)
Form of ADR
(d)
Opinion of counsel to the Depositary as to the legality of the securities to be registered.
(e)
Rule 466 Certification
Number
Each American
Depositary Share represents
Twenty Shares
Deutsche Bank Trust Company Americas
American Depositary Receipt
Evidencing
American Depositary Shares
For Ordinary Shares of
Geely Automobile Holdings Limited
(Incorporated under the laws of Hong Kong)
Deutsche Bank Trust Company Americas, as Depositary (hereinafter referred to as the Depositary), hereby certifies that (i) at the date hereof there have been deposited with the Depositary or its agent, nominee, custodian or correspondent the Shares described above or evidence of the right to receive such Shares; (ii) at the date hereof each American Depositary Share evidenced by this Receipt represents the amount of such securities shown above and deposited or deemed to be deposited hereunder as provided in clause (i) above or Article 7 of this Receipt, as the case may be, (iii) from time to time hereafter, each American Depositary Share evidenced by this Receipt shall represent such number of Shares and any and all other shares, stock, securities, cash and/or other property held by the Depositary in place thereof or in addition thereto (collectively, the "Deposited Securities") as provided herein and (iv) or registered assigns IS THE HOLDER OF AMERICAN DEPOSITARY SHARES evidenced by this Receipt and, except as otherwise herein expressly provided, is entitled, upon surrender at the office of the Depositary (the "Depositary's Office"), of this Receipt duly endorsed for transfer, upon payment of the fees and charges as provided on the reverse of this Receipt and in compliance with applicable laws and governmental regulations, at the Holder's option (1) to delivery at the office of the agent, nominee, custodian or correspondent of the Depositary, to a person specified by the Holder, of the amount of Deposited Securities represented hereby or evidence of the right to receive the same, or (2) to have such Deposited Securities forwarded at such Holder's cost and risk to him at the Depositary's Office.
The term "Beneficial Owner" shall mean any person who has a beneficial interest in any American Depositary Share evidenced by this Receipt. The term "Holder" shall mean the person or persons in whose name this Receipt is registered upon the books of the Depositary from time to time. The term "Securities Act of 1933" shall mean the United States Securities Act of 1933, as amended from time to time. The term "Shares" shall mean the ordinary shares of Geely Automobile Holdings Limited heretofore validly issued and outstanding and fully paid, nonassessable and free of any pre-emptive rights of the holders of outstanding Shares or hereafter validly issued and outstanding and fully paid, nonassessable and free of any pre-emptive rights of the holders of outstanding Shares or interim certificates representing such Shares.
1. Receipts. This Receipt is one of a continuing issue of Receipts, all evidencing rights of like tenor with respect to the Deposited Securities, and all issued or to be issued upon the terms and conditions provided herein, which shall govern the continuing arrangement by the Depositary with respect to initial deposits as well as the rights of Holders and Beneficial Owners of Receipts subsequent to such deposits. The Depositary will not knowingly accept for deposit any Shares required to be registered under the provisions of the Securities Act of 1933 unless a registration statement is in effect as to such Shares. The Depositary assumes no liability with respect to the validity or worth of the Deposited Securities.
2. Withdrawal of Deposited Securities. The surrender of outstanding Receipts and the withdrawal of Deposited Securities may only be suspended for (i) temporary delays caused by closing the transfer books of the Depositary or the issuer of the Deposited Securities or the deposit of Shares in connection with voting at a shareholders' meeting or the payment of dividends, (ii) the payment of fees, taxes and similar charges, (iii) compliance with any U.S. or foreign laws or governmental regulations relating to the Receipts or to the withdrawal of the Deposited Securities, or (iv) any other reason that may at any time be specified in paragraph I(A)(1) of the General Instructions to Form F-6, as from time to time in effect, or any successor provision thereto. Only whole Shares may be withdrawn.
3. Transfer of Receipts; Combination and Split-up of Receipts. Until the surrender of this Receipt in accordance with the terms hereof, the Depositary will keep at a designated transfer office in the Borough of Manhattan, The City of New York, (a) a register for the registration and registration of transfers of Receipts and where the Holders of Receipts may, during regular business hours, inspect the transfer books or the list of Holders of Receipts as maintained by the Depositary. The transfer of this Receipt is registrable on the transfer books of the Depositary at the Depositary's Office in the City of New York by the Holder hereof in person or by duly authorized attorney, upon surrender of this Receipt properly endorsed for transfer or accompanied by proper instruments of transfer and payment of funds sufficient to pay the fees and expenses of the Depositary and any applicable taxes and other governmental charges and upon compliance with such regulations, if any, as the Depositary may establish for such purpose. This Receipt may be split into other such Receipts, or may be combined with other such Receipts into one Receipt, representing the same aggregate number of Deposited Securities as were represented by the American Depositary Shares evidenced by the Receipt or Receipts surrendered. Upon such split or combination not involving a transfer, a charge may be made as provided herein. The Depositary may close the transfer books at any time or from time to time when deemed expedient by it in connection with the performance of its duties hereunder, subject to the provisions of Article 2 hereof.
2
4. Proof of Citizenship or Residence. The Depositary may require any Holder or Beneficial Owner of Receipts, or any person presenting securities for deposit against the issuance of Receipts, from time to time, to file such proof of citizenship or residence and to furnish such other information, by affidavit or otherwise, and to execute such certificates and other instruments as may be necessary or proper to comply with any laws or regulations relating to the issuance or transfer of Receipts, the receipt or distribution of dividends or other property, or the taxation thereof or of Receipts or Deposited Securities, and the Depositary may withhold the issuance or registration of transfer of any Receipt or payment of such dividends or delivery of such property from any Holder, Beneficial Owner or other person, as the case may be, who shall fail to file such proofs, certificates or other instruments.
5. Transferability and Record Ownership. It is a condition of this Receipt, and every successive Holder and Beneficial Owner of this Receipt by accepting or holding the same consents and agrees, that title to this Receipt, when properly endorsed or accompanied by proper instrument of transfer, is transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that prior to the due presentation of this Receipt for registration of transfer as provided in Article 3 hereof, and subject to the provisions of Article 14 hereof, the Depositary, notwithstanding any notice to the contrary, may treat the person in whose name this Receipt is registered on the books of the Depositary as the absolute owner hereof for the purpose of determining the persons entitled to dividends or other distributions or to any notice pursuant to the terms hereof and for all other purposes.
6. Limitations on Execution and Delivery, Transfer and Surrender of Receipts. Subject to the provisions of Article 2 hereof, the delivery of Receipts against deposits of Shares generally or against deposits of particular Shares may be suspended, or the registration of transfer of Receipts in particular instances may be refused, or registration of transfer of outstanding Receipts or the combination or split-up of Receipts generally may be suspended, during any period when the transfer books of the Depositary are closed, or if any such action is deemed necessary or advisable by the Depositary at any time or from time to time because of any requirement of law or of any government or governmental body or commission, or under any provision of this Receipt, or for any other reason.
7. Pre-Release of Receipts. Notwithstanding any other provision of this Receipt, the Depositary may execute and deliver Receipts prior to the receipt of Shares (each such transaction hereinafter referred to as a "Pre-Release"). The Depositary may deliver Deposited Securities upon the receipt and cancellation of Receipts which have been pre-released, whether or not such cancellation is prior to the termination of such Pre-Release or the Depositary knows that such Receipt has been pre-released. The Depositary may receive Receipts issued by the Depositary in lieu of Shares in satisfaction of a Pre-Release. Each Pre-Release will be (a) preceded or accompanied by a written representation from the person to whom the Receipts are to be delivered that such person, or its customer, owns the Shares or Receipts to be delivered in satisfaction of a Pre-Release, as the case may be, (b) at all times fully collateralized with cash or such other collateral as the Depositary deems appropriate, (c) terminable by the Depositary on not more than five (5) business days' notice and (d) subject to such further indemnities and credit regulations as the Depositary deems appropriate. The number of American Depositary Shares which is outstanding at any time as a result of Pre-Releases will not normally exceed thirty percent (30%) of the Shares deposited in accordance with the terms of Receipts; provided, however, that the Depositary reserves the right to change or disregard such limit from time to time as it deems appropriate. The Depositary may retain for its own account any compensation earned or received by it in connection with the foregoing.
3
8. Liability of Holder for Taxes. The Depositary shall not be liable for any governmental taxes, assessments or charges or corporate assessments or charges which may become payable in respect of the Deposited Securities or Receipts, but a ratable part of any and all of the same, whether such tax, assessment or charge becomes payable by reason of any present or future tax, statute, charter provision, by-law, regulation or otherwise, shall be payable by the Holder of this Receipt to the Depositary at any time upon request. Upon the failure of the Holder of this Receipt to pay any such amount, the Depositary may withhold dividends or other distributions, or may sell for the account of such Holder all or any part of the Deposited Securities represented by the American Depositary Shares evidenced by this Receipt, and may apply such dividends or other distributions or the proceeds of any such sale in payment of such tax, assessment or charge, and the Holder hereof shall remain liable for any deficiency. If the Depositary determines that any distribution in property other than cash on deposited shares is subject to any tax that the Depositary or the Custodian is obligated to withhold, the Depositary may dispose of all or a portion of such property in such amounts and in such manner as the Depositary deems necessary and practicable to pay such taxes, by public or private sale, and the Depositary shall distribute the net proceeds of any such sale or the balance of any such property after deduction of such taxes to the Holders entitled thereto.
9. Available Information. As of the date of the establishment of the program for issuance of Receipts by the Depositary, the Depositary had a good faith belief (after limited investigation), that the issuer of the Deposited Securities (hereinafter referred to as the "Issuer") publishes information in English required to maintain the exemption from registration under Rule 12g3-2(b) under the Securities Exchange Act of 1934, as amended (the "Securities Exchange Act of 1934") on its Internet Web site (www.geelyauto.com.uk) or through an electronic information delivery system generally available to the public in its primary trading market. Should such Issuer become subject to the periodic reporting or other informational requirements under the Securities Exchange Act of 1934, it will be required in accordance therewith to file reports and other information with the U.S. Securities and Exchange Commission. The Depositary does not assume any duty to determine if the Issuer is complying with the current requirements of Rule 12g3-2(b) under the Securities Exchange Act of 1934 or to take any action if the Issuer is not complying with those requirements.
Deutsche Bank Trust Company Americas,
as Depositary
By:
Attest:
The Depositary's Office is currently located at 60 Wall Street, New York, New York 10005.
4
(REVERSE OF RECEIPT)
10. Representations and Warranties. Every person presenting Shares for deposit shall be deemed thereby to represent and warrant that such Shares and, if applicable, each certificate therefor, are validly issued, fully paid, nonassessable and free of any pre-emptive rights and that the person making such deposit is duly authorized so to do. Each such person shall also be deemed to represent that the Shares would not be required to be registered under the Securities Act of 1933 in connection with the offer or sale thereof in the United States. Such representations and warranties shall survive the deposit of such securities and the issuance of Receipts.
11. Further Conditions. This Receipt is issued subject, and all rights of the Holder and Beneficial Owner hereof are expressly subject, to the terms and conditions set forth on both sides of this Receipt, all of which form a part of the agreement evidenced in this Receipt and to all of which the Holder and Beneficial Owner hereof by accepting this Receipt consent and agree.
12. Notices; Voting Rights. The Depositary shall be under no obligation to give notice to the Holder or any Beneficial Owner of this Receipt of any meeting of shareholders or of any report of or communication from the Issuer or of any other matter concerning the affairs of such Issuer, except as herein expressly provided. The Depositary undertakes to make available for inspection by Holders of the Receipts at the Depositary's Office any reports and communications received by the Depositary or any agent, nominee, custodian or correspondent of the Depositary from the Issuer which were both (a) received by the Depositary as the holder of the Deposited Securities and (b) made generally available to the holders of such Deposited Securities by the Issuer. Such reports and communications will be available in the language in which they were received by the Depositary from the Issuer, except to the extent, if any, that the Depositary in its sole discretion elects both (i) to translate into English any of such reports or communications that were not in English when received by the Depositary and (ii) to make any such translation available for such inspection by Holders of the Receipts. The Depositary has no obligation of any kind to translate any of such reports or communications or to make any such translation available for inspection. The Depositary shall not incur any liability to any Holder or Beneficial Owner by reason of any such translation provided by the Depositary, whether or not such translation was prepared by the Depositary.
Upon the written request of the Holder hereof and the payment to it of any expenses and costs involved, the Depositary will endeavor insofar as practicable to exercise any then existing voting rights with respect to an amount of the deposited shares represented hereby in accordance with such request.
5
13. Distributions. Until the termination of the agreement evidenced in this Receipt in accordance with the terms hereof, the Depositary shall distribute or otherwise make available to the Holder hereof, at a time and in such manner as it shall determine, any cash dividend, other cash distribution, distribution of shares, subscription or other rights, or any other distribution with respect to the amount of Deposited Securities represented by the American Depositary Shares evidenced hereby, after deduction, or upon payment of the fees and expenses of the Depositary described in Article 20 below, and the withholding of any taxes in respect thereof; provided, however, that the Depositary shall not make any distribution which in the opinion of counsel may violate the Securities Act of 1933 or any other applicable law and for which it shall not have received adequate assurances with respect to compliance with such law or laws, and, in such cases, the Depositary may sell such shares, subscription or other rights, securities or other property. In the event that the Depositary elects not to make any such distribution the Depositary need only notify Holders of the disposition thereof and the proceeds, if any, of any such sales. Any dividend or other distribution received by the Depositary in cash in a currency other than U.S. dollars shall, subject to the provisions of the following paragraph, be converted into U.S. dollars and distributed as herein provided in U.S. dollars. In lieu of distributing fractional shares, the Depositary may, in its discretion, sell the amount of securities or property equal to the aggregate of any fractional shares. The Depositary shall have discretion as to the procedure to be followed in making subscription or other rights available to any Holder or in disposing of such rights on behalf of any Holder and making the net proceeds available to such Holder, provided that if by the terms of such rights offering or for any other reason it would be unlawful for the Depositary either to make such rights available to any Holder or dispose of such rights and make the net proceeds from the sale of such rights available to such Holder, then the Depositary may allow such rights to lapse. Sales of subscription or other rights, securities or other property by the Depositary may be made at such time and in such manner as the Depositary may deem advisable, and in such case, the Depositary shall distribute to the Holder hereof the net proceeds after deduction of the fees and expenses of the Depositary described in Article 20 below and any applicable withholding taxes or other governmental charges in respect thereof.
If the Depositary shall determine in its sole judgment that any cash distribution is not convertible in its entirety or with respect to the Holders of a portion of the Receipts on a reasonable basis into U.S. dollars available to it in the City of New York, or if any required approval or license of any government or agency for such conversion is denied or is not obtainable within a reasonable period, the Depositary may in its discretion make such conversion and distribution in U.S. dollars to the extent possible to the Holders entitled thereto, at such time and rates of conversion as the Depositary shall deem appropriate, and shall with respect to any such currency not converted or convertible either (i) distribute such currency to the Holders entitled thereto or (ii) hold such currency for the respective accounts of such Holders and distribute appropriate warrants or other instruments evidencing rights to receive such foreign currency.
14. Record Dates. Whenever any cash dividend or other cash distribution shall become payable or any distribution other than cash shall be made, or whenever rights shall be issued, with respect to Deposited Securities, or whenever the Depositary shall receive notice of any meeting of holders of Shares or other Deposited Securities, or whenever it is necessary in the judgment of the Depositary to determine the Holders of Receipts, the Depositary will fix a record date for the determination of the Holders generally or the Holders of Receipts who shall be entitled to receive such dividend, distribution or rights, or the net proceeds of the sale thereof, or to give instructions for the exercise of voting rights at any such meeting. Surrender of this Receipt for registration of transfer subsequent to any such record date and prior to the date of payment, distribution or meeting shall not affect the right of the Holder hereof on such record date to receive such payment or distribution or, subject to Article 12 hereof, to direct the manner of voting the Deposited Securities represented hereby.
6
15. Forwarding and Delivery of Deposited Securities. At any time the Depositary may, in its sole discretion, cause any or all Deposited Securities to be forwarded at the cost and risk of the Holders of the Receipts to the Depositary's Office or to any agent, nominee, custodian or correspondent of the Depositary, to be held by the Depositary, or such agent, nominee, custodian or correspondent, in which case the Holder hereof shall have, in lieu of the option set forth in clauses (1) and (2) of the first paragraph on the face hereof, the right (i) to receive at no additional cost at the Depositary's Office or the office of such agent, nominee, custodian or correspondent, as the case may be, or (ii) to have forwarded, at the cost and risk of such Holder, to or upon the order of such Holder at the address designated by such Holder to the Depositary in writing, such amount of Deposited Securities as are represented hereby upon the surrender of this Receipt properly endorsed or accompanied by proper instruments of transfer and upon payment of the applicable fees, taxes and charges. The Depositary shall not incur any liability to any Holder or Beneficial Owner of this Receipt by reason of any such forwarding or failure to forward any or all Deposited Securities.
16. Changes Affecting Deposited Securities. Upon (i) any change in nominal or par value, or any split-up, combination or any other reclassification, of any Deposited Securities, or (ii) any recapitalization, reorganization, sale of assets, liquidation, receivership, bankruptcy, merger or consolidation affecting the Issuer or to which it is a party, then and in any such case the Depositary shall have the right to exchange or surrender such Deposited Securities and accept and hold hereunder in lieu thereof other shares, securities, cash or property to be issued or delivered in lieu of or in exchange for, or distributed or paid with respect to, such Deposited Securities. Upon any such exchange or surrender, the Depositary shall have the right, in its discretion, to call for surrender of this Receipt in exchange (upon payment of fees and expenses of the Depositary and any applicable taxes and governmental or other charges) for one or more new Receipts of the same form and tenor as this Receipt, specifically describing such new shares, securities, cash or other property. In any such case the Depositary shall have the right to fix a date after which this Receipt shall only entitle the Holder to receive such new Receipt or Receipts.
If any of the Deposited Securities are redeemable, the Depositary shall have the rights set forth in the preceding paragraph. The Depositary shall mail notice of any redemption of Deposited Securities to the Holders of Receipts, provided that in the case of any redemption of less than all of the Deposited Securities, the Depositary shall draw in such manner as it shall determine an equivalent number of American Depositary Shares and shall mail notice of redemption only to the Holders of Receipts evidencing the American Depositary Shares so drawn for redemption, in whole or in part. The sole right of the Holders of Receipts evidencing American Depositary Shares designated for redemption after the mailing of any such notice of redemption shall be to receive the cash, rights and/or other property applicable to the same, upon surrender to the Depositary (and upon payment of the fees and expenses of the Depositary and any applicable taxes and governmental or other charges) of the Receipts evidencing such American Depositary Shares.
7
17. Liability of the Depositary. The Depositary assumes no obligation and shall not incur any liability to any Holder or Beneficial Owner of this Receipt (including, without limitation, liability with respect to the validity or worth of the Deposited Securities and with respect to the time and rates for conversion of any foreign currency into U.S. dollars) except that it agrees to perform its obligations specifically set forth in this Receipt without gross negligence or bad faith. In addition, the Depositary shall not incur any liability to any Holder or Beneficial Owner of this Receipt if, by reason of any provisions of any present or future law, rule or regulation of the United States of America, or of any state thereof, or of any foreign country, or political subdivision thereof or of any governmental entity or regulatory authority or stock exchange, or by reason of any provision, present or future, of the charter or certificate of incorporation, memorandum or articles of association, statutes, code of regulations, by-laws or resolutions of the Issuer, the Depositary shall be prevented or forbidden from or subjected to any civil or criminal penalty or extraordinary expenses on account of doing or performing any act or thing which by the terms hereof shall be done or performed; nor shall the Depositary incur any liability to any Holder or Beneficial Owner hereof by reason of any delay in the performance or non-performance of any act or thing which by the terms hereof shall be done or performed, caused as aforesaid or arising out of any act of God or war or any other circumstances beyond its control, or by reason of any exercise of, or failure to exercise, any discretion provided for herein. In no event shall the Depositary or any of its agents be liable for any indirect, special, punitive or consequential damages.
The Depositary shall not be responsible for any failure to carry out any requests to vote or for the manner or effect of any vote made either with or without request, or for not exercising any right to vote. The Depositary shall be under no obligation to appear in, prosecute or defend any action, suit or other proceeding in respect of any of the Deposited Securities or in respect of the Receipts which in its opinion may involve it in expense or liability, unless indemnity satisfactory to it against all expenses and liability be furnished as often as may be required. The Depositary shall not incur any liability to any Holder or Beneficial Owner of a Receipt for any action or inaction by it in reliance upon the advice of or information from legal counsel, accountants, any person presenting Shares for deposit, any Holder or Beneficial Owner or any other person believed by it to be competent to give such advice or information. The Depositary and any of its affiliates may each become the owner of and deal in securities of any class of the Issuer and in Receipts.
The issuer of the Receipts is deemed to be the legal entity resulting from the agreement evidenced in this Receipt.
18. Amendment of Receipts. The form of the Receipts may at any time and from time to time be amended by the Depositary in any respect which it may deem necessary or desirable. Any amendment which shall prejudice any substantial existing right of Holders shall not become effective as to outstanding Receipts until the expiration of thirty (30) days after notice of such amendment shall have been given to the Holders of outstanding Receipts; provided, however, that such thirty (30) days' notice shall in no event be required with respect to any amendment which shall impose or increase any taxes or other governmental charges, registration fees, cable, telex or facsimile transmission costs, delivery costs or other such expenses. Every Holder of a Receipt at the time any amendment so becomes effective shall be deemed, by continuing to hold such Receipt, to consent and agree to such amendment and to be bound by the agreement evidenced in this Receipt as amended thereby. In no event shall any amendment impair the right of the Holder of any Receipt to surrender such Receipt and receive therefor the Deposited Securities represented by the American Depositary Shares evidenced thereby, except in order to comply with mandatory provisions of applicable law.
8
19. Termination of Agreement and Surrender of this Receipt. The Depositary may at any time terminate the agreement evidenced in this Receipt and all other Receipts by mailing notice of such termination to the Holders of all the Receipts then outstanding at their addresses appearing upon the books of the Depositary, at least thirty (30) days prior to the date fixed in such notice of termination. On and after such date of termination the Holder hereof, upon surrender of this Receipt at the Depositary's Office, will be entitled to delivery of the amount of the Deposited Securities represented by the American Depositary Shares evidenced hereby at such date of termination upon the same terms and conditions, upon payment of a fee at the rates provided herein with respect to the surrender of this Receipt for Deposited Securities and upon payment of any applicable taxes and governmental or other charges. The Depositary may convert any dividends received by it in cash after the termination date into U.S. dollars as herein provided, and after deducting therefrom the fees and expenses of the Depositary and taxes and other governmental charges referred to herein, hold the balance of said dividends for the pro rata benefit of the Holders of the respective Receipts. As to any Receipts not so surrendered within thirty (30) days after such date of termination, the Depositary shall thereafter have no obligation with respect to the collection or disbursement of any subsequent dividends or any subscriptions or other rights accruing on the Deposited Securities. After the expiration of six months from such date of termination the Depositary may sell any remaining Deposited Securities in such manner as it may determine appropriate, and may thereafter hold uninvested the net proceeds of any such sale or sales, together with any dividends received prior to such sale or the U.S. dollars received on conversion thereof, unsegregated and without liability for interest thereon, for the pro rata benefit of the Holders of the Receipts which have not theretofore been surrendered for cancellation, such Holders thereupon becoming general creditors of the Depositary with respect to such net proceeds. After making such sale, or if no such sale can be made after the expiration of two years from such date of termination, the Depositary shall be discharged from all obligations whatsoever to the Holders and Beneficial Owners of the Receipts except to make distributions of the net proceeds of sale and of such dividends (after deducting all fees, charges and expenses of the Depositary) or of the Deposited Securities in case no sale can be made upon surrender of the Receipts.
20. Certain Fees and Charges of the Depositary. The Depositary may charge any party depositing or withdrawing Shares, any party transferring or surrendering Receipts, any party to whom Receipts are issued (including issuance pursuant to a stock dividend or stock split or an exchange of stock or distribution) or Holders, as applicable, (i) fees for the delivery or surrender of Receipts and deposit or withdrawal of Shares, (ii) fees for distributing cash, Shares or other property received in respect of Deposited Securities, (iii) taxes and other governmental charges, (iv) registration or custodial fees or charges relating to the Shares, (v) cable, telex and facsimile transmission expenses, (vi) foreign currency conversion expenses and fees, (vii) depositary servicing fees and (viii) any other fees or charges incurred by the Depositary or its agents in connection with the Receipt program. The Depositary's fees and charges may differ from those of other depositaries. The Depositary reserves the right to modify, reduce or increase its fees upon thirty (30) days' notice to the Holder hereof. The Depositary will provide, without charge, a copy of its latest schedule of fees and charges to any party requesting it.
9
21. Governing Law. This Receipt shall be interpreted in accordance with, and all rights and obligations hereunder and provisions hereof shall be governed by, the laws of the State of New York applicable to contracts made in and to be performed in that state.
All actions and proceedings brought by any Holder or beneficial holder of this Receipt against the Depositary arising out of or relating to the Shares or other Deposited Securities, the American Depositary Shares or the Receipts, or any transaction contemplated herein, shall be litigated only in courts located within the State of New York.
EACH HOLDER AND BENEFICIAL HOLDER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING AGAINST THE DEPOSITARY DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THE SHARES OR OTHER DEPOSITED SECURITIES, THE AMERICAN DEPOSITARY SHARES OR THE RECEIPTS, OR ANY TRANSACTION CONTEMPLATED HEREIN, OR THE BREACH HEREOF, INCLUDING WITHOUT LIMITATION, ANY QUESTION REGARDING EXISTENCE, VALIDITY OR TERMINATION (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE
(Please print or typewrite name
and address of assignee)
10
the within American Depositary Receipt and all rights and interests represented thereby, and hereby irrevocably constitutes and appoints
attorney, to transfer the same on the books of the within named Depositary, with full power of substitution in the premises.
Dated Signature
NOTE: The signature to any endorsement hereon must correspond with the name as written upon the face of this Receipt in every particular, without alteration or enlargement or any change whatsoever.
If the endorsement be executed by an attorney, executor, administrator, trustee or guardian, the person executing the endorsement must give his full title in such capacity and proper evidence of authority to act in such capacity, if not on file with the Depositary, must be forwarded with this Receipt.
All endorsements or assignments of Receipts must be guaranteed by an "eligible institution" as such term is defined in Rule 17Ad-15 under the United States Securities Exchange Act of 1934, having an office or correspondent in The City of New York.
11
Ziegler, Ziegler & Associates LLP
Counselors at Law
570 Lexington Avenue, 44th Floor
New York, New York 10022
(212) 319-7600
Telecopier (212) 319-7605
December 9, 2010
Deutsche Bank Trust Company Americas, as Depositary
60 Wall Street
New York, New York 10005
American Depositary Shares evidenced by American Depositary
Receipts for deposited shares of the foreign private issuer whose name
appears on the Registration Statement to which this opinion is an exhibit
Dear Sirs:
Referring to the Registration Statement on Form F-6 relating to the above-entitled American Depositary Shares ("ADSs") evidenced by American Depositary Receipts ("ADRs") each ADS representing such number of shares of the foreign private issuer as is set forth on the face of the Registration Statement on Form F-6 to which this opinion is an exhibit (such foreign private issuer being, the "Company").
We are of the opinion that the ADSs covered by the Registration Statement, when issued in accordance with the terms of the form of ADR attached as Exhibit (a) to the Registration Statement, will, when sold, be legally issued and will entitle the holders thereof to the rights specified in the form of ADR.
The foregoing opinion is limited to the Federal laws of the United States and the laws of the State of New York, and we are expressing no opinion as to the effect of the laws of any other jurisdiction.
We hereby consent to the use of this opinion as Exhibit d of the above-mentioned Registration Statement. In giving such consent, we do not admit thereby that we are within the category of persons whose consent is required under Section 7 of the Securities Act of 1933, as amended.
Very truly yours,
/s/ Ziegler, Ziegler & Associates LLP
Certification under Rule 466
The depositary, Deutsche Bank Trust Company Americas, represents and certifies the following:
(1) That it previously had filed a registration statement on Form F-6 (Aurubis AG 333-158470) that the Commission declared effective, with terms of deposit identical to the terms of deposit of this registration statement.
(2) That its ability to designate the date and time of effectiveness under Rule 466 has not been suspended.
By:
DEUTSCHE BANK TRUST COMPANY
AMERICAS, Depositary
By:
/s/ James Kelly
Name:
James Kelly
Title:
Vice President
By:
/s/ Chris Konopelko
Name:
Chris Konopelko
Title: Vice President
http://www.knobias.com/individual/public/quote.htm?ticker=GELYY
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7285801
Tony,
All this good news and we slowly slip more and more and more??
Since early November, we've lost about 20 cents (OUCH !!) which is pretty drastic IMO for a 50 cent stock -- and may I add is pretty painful for us longs as well.
What (in your opinion) do you think has accounted for this fall ?
Thanks - Jim
GELYY News DJ Volvo Cars Gets EUR198M Loan To Secure Belgian Projects.
Monday, December 13, 2010 8:02 AM
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News for 'GELYY' - (DJ Volvo Cars Gets EUR198M Loan To Secure Belgian Projects)
DOW JONES NEWSWIRES
http://online.wsj.com/article/BT-CO-20101213-705113.html?mod=wsjcrmain
Volvo Car Corporation, through Volvo Cars NV, said Monday taht with ING Belgium it has officially signed a loan agreement of EUR198M to secure car projects in Volvo Car Corporation's manufacturing plant in Ghent, Belgium.
MAIN FACTS:
-The loan is guaranteed by the Flemish regional government through Gigarant.
-The loan will be used to secure investments and jobs in Volvo Car Corporation's Ghent factory through car projects with industrialisation in that production facility.
-The loan term is 5 years and the conditions are in accordance with the temporary framework for state aid measures of the European Commission.
-"The loan secures investments and jobs in Ghent and provides Volvo Car Corporation with funding stability for car projects with industrialisation in our Belgian factory," says Stefan Jacoby, CEO of Volvo Car Corporation.
-Gigarant NV is a company owned by Participatiemaatschappij Vlaanderen (PMV), which has the Flemish government as its sole shareholder. Gigarant's mission is to provide credit guarantees to companies that aim to secure financing at times when credit has become tight due to the financial crisis.
-By Stockholm Bureau, Dow Jones Newswires; +46-8-5451-3090; djnews.stockholm@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=wq9Gt7V4VL0%2BVxnnum8Zjw%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
December 13, 2010 08:02 ET (13:02 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.- - 08 02 AM EST 12-13-10
http://online.wsj.com/article/BT-CO-20101213-705113.html?mod=wsjcrmain
http://online.wsj.com/public/quotes/main.html?symbol=GELYY&type=pinksh&mod=DNH_S
Source: DJ Broad Tape
GELYY News *DJ Volvo Cars: Jan Gurander Currently Fincl Chief...
Friday, December 10, 2010 3:33 AM
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News for 'GELYY' - (*DJ Volvo Cars: Jan Gurander Currently Fincl Chief Of MAN Diesel)
(MORE TO FOLLOW) Dow Jones Newswires
December 10, 2010 03:33 ET (08:33 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.- - 03 33 AM EST 12-10-10
Source: DJ Broad Tape
GELYY News *DJ Volvo Cars: Lex Kerssemakers Named Head Of Pro...
Friday, December 10, 2010 3:32 AM
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News for 'GELYY' - (*DJ Volvo Cars: Lex Kerssemakers Named Head Of Product Strategy)
(MORE TO FOLLOW) Dow Jones Newswires
December 10, 2010 03:32 ET (08:32 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.- - 03 32 AM EST 12-10-10
Source: DJ Broad Tape
GELYY News *DJ Volvo Cars: Jan Gurander To Start By April 201...
Friday, December 10, 2010 3:31 AM
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News for 'GELYY' - (*DJ Volvo Cars: Jan Gurander To Start By April 2011 Latest)
(MORE TO FOLLOW) Dow Jones Newswires
December 10, 2010 03:31 ET (08:31 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.- - 03 31 AM EST 12-10-10
Source: DJ Broad Tape
GELYY News *DJ Volvo Cars: Jan Gurander Named Chief Fincl Off...
Friday, December 10, 2010 3:31 AM
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News for 'GELYY' - (*DJ Volvo Cars: Jan Gurander Named Chief Fincl Officer)
(MORE TO FOLLOW) Dow Jones Newswires
December 10, 2010 03:31 ET (08:31 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.- - 03 31 AM EST 12-10-10
Source: DJ Broad Tape
GELYY News *DJ Volvo Cars To Decide On Chinese Built Cars, Wh...
Friday, December 10, 2010 3:30 AM
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News for 'GELYY' - (*DJ Volvo Cars To Decide On Chinese Built Cars, Which To Import)
(MORE TO FOLLOW) Dow Jones Newswires
December 10, 2010 03:30 ET (08:30 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.- - 03 30 AM EST 12-10-10
GELYY News *DJ Volvo Cars Agree Strategic Direction Of Chines...
Friday, December 10, 2010 3:29 AM
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News for 'GELYY' - (*DJ Volvo Cars Agree Strategic Direction Of Chinese Growth Plan)
(MORE TO FOLLOW) Dow Jones Newswires
December 10, 2010 03:29 ET (08:29 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.- - 03 29 AM EST 12-10-10
Source: DJ Broad Tape
http://online.wsj.com/public/quotes/main.html?symbol=GELYY&type=pinksh&mod=DNH_S
GELYY News -- DJ Volvo China Strategy Focuses On Chengdu Plant, ...
Thursday, December 9, 2010 8:22 PM
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News for 'GELYY' - (DJ Volvo China Strategy Focuses On Chengdu Plant, Board Member Says - Bloomberg)
DOW JONES NEWSWIRES
Volvo AB (VOLVY) is looking to start production in Chengdu in a bid to boost sales in China, Bloomberg News reported on its website Friday, citing the car company's board member.
The board agreed at a meeting that taking over an existing Geely Automobile Holdings Ltd. (GELYY) factory and converting it to produce Volvo cars would be the foundation of the company's China strategy, but added that no decision had been taken, the report said citing Marko Peltonen, who represents the IF Metall union on the board.
"To have a Volvo factory in Chengdu is the main track," Peltonen said by telephone late yesterday. "It wouldn't be a mixed factory, it would only be a Volvo factory."
Volvo hasn't set a timeframe for the decision, Peltonen said in the report, adding that the decision would also have to be made by local Chinese governments.
Full Story: http://www.bloomberg.com/news/2010-12-09/volvo-cars-china-strategy-will-focus-on-chengdu-plant-board-member-says.html
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=jVMciiKjbfhjWFsf50kq2Q%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
December 09, 2010 20:22 ET (01:22 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.- - 08 22 PM EST 12-09-10
Source: DJ Broad Tape
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Geely (officially Zhejiang Geely Holding Group Co., Ltd) is a Chinese multinational automotive manufacturing company headquartered in Hangzhou, Zhejiang. It sells passenger vehicles under the Geely Auto, Volvo, LYNK & CO, Proton, and Lotus brands and commercial vehicles under the London Electric Vehicle Company and Yuan Cheng New Energy Commercial Vehicle brands.
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