Xechem International Inc. (fka XKEM)

[was builder]

News I Found! Anyone know what it means?

Take this for what it is. I do not know this person but thought I would post it in case someone knows any thing about it!

Go XKEM!

Love the board!



XKEM moving on buy out rumors..
posted December 29, 2006 13:37

http://www.telecentro.pt/forum/ler_questao.asp?qt=1568&varid=4

Assunto: Banif will launch a takeover to Xechem International Inc.
Enviada por:
Nome: José Escarigo
Data: 12/28/2006 1:40:55 PM
e-mail: [e-mail]
Respostas: Nenhuma

Questão:
Lisbon - A source from Banif said today that Banif will launch a takeover to Xechem International Inc.
Banif, will notifie next tuesday the Portuguese National Securities Market Commission (CNMV) that it was willing to waive the condition of a 75% minimum acceptance level to which its public offer for the acquisition of Xechem International Inc shares was subject, taking into consideration that the response received will be sufficient to develop the business project pursued through the takeover bid.
Banif will launch a takeover bid for Xechem International Inc with the payment of $0.25 USD for each of the that responded to the tender offer, this initial offer could reach the limit of price of $0.27 USD for each share of the company.

The source will give a conference call at 1.45 pm ET at http://chatshack.net/ema666

About Banif :

The Banif Financial Group opens a new Banif Privado Centre, in Funchal, providing its customers in Madeira with a new form of combined and integrated access to commercial and investment banking products and services.

New offices opened in Miami and Newark.

The Brazilian Central Bank approves plans by the Banif Financial Group to incorporate a new bank to operate in Brazil - Banif Primus Banco de Investimento, SA.

The Group now has two specialist operators in the Brazilian banking market: a commercial bank known as Banif - Banco Internacional do Funchal (Brasil), SA, and an investment bank known as Banif Primus Banco de Investimento, SA.

Banif - Imobiliária, SA is a property management firm which handles property belonging to the Banif Financial Group, both in Mainland Portugal and the island regions, and not used for operations. Its mission is to manage property used for the operations of companies belonging to Banif Comercial, SGPS, especially those of the Group?s commercial banks (Banif and BCA).

Companhia de Seguros Açoreana is voted Best Life Insurance Company in Portugal, for the 4th consecutive year, by Exame magazine, in collaboration with Deloitte & Touche and DB Informa, through comparative analysis of a range of economic and financial indicators.

In July, Açoreana records net profits of 8.1 million Euros, up by a significant 21.4% on the same period in 2004.

The Banif Financial Group changes its financial structure, as Banif SGPS, SA, which heads the group, divides its business interests between two sub-holdings, Banif Comercial SGPS, SA and Banif Investimentos SGPS, SA, while holding a direct interest in Companhia de Seguros Açoreana, SA, responsible for all of the Banif Group?s insurance business.

Banif Comercial SGPS, SA controls companies geared to commercial banking business, including Banif - Banco Internacional do Funchal, SA, Banco Comercial dos Açores, SA, Banif - Banco Internacional do Funchal (Brasil), SA, operating in Brasil, and others engaged in specialist lending activities - Banif Leasing, SA, Banif Crédito, SA e Banif Rent, SA.

For its part, Banif Investimentos SGPS, SA controls companies geared to investment banking, including Banif - Banco de Investimento, SA, which positions itself as a specialist operator in the fields of private banking, asset management, brokerage, capital markets, private equity, corporate finance and project finance.

Other companies such as Banif (Cayman), Banif Açor Pensões, NewCapital, Banif Securities, Banif Financial Services, Banif Mortgage Company are also included in this sub-holding.

The Banif Financial Group has been increasing its business through electronic transactional channels such as Banif@st, bcaglob@l, Binvestor, AçorNet and IPB, as a means of supporting the Group?s international private banking business.

The Group now boasts around 3,000 employees with more than 300 points of sale in 3 continents: Europe, Africa and America.

The Group?s presence in markets as varied as Brazil, Canada, the United States, the Cayman Islands, Venezuela, South Africa and the UK offers visible proof of the success of the Banif Financial Group?s policy of expansion and diversification.

In 2005, Banif SGPS, SA, the holding company of the Banif Financial Group, recorded consolidated profits of 60.9 million Euros, representing growth of around 127% over the previous year.