Special Committee on Decolonization

BEST Inc. Announces Appointment of Financial Advisor and Legal Counsel to the Special Committee

Retrieved on: 
Thursday, November 23, 2023
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The Special Committee is continuing its review and evaluation of the Proposal.

Key Points: 
  • The Special Committee is continuing its review and evaluation of the Proposal.
  • The Board cautions the Company's shareholders and others considering trading the Company's securities that no decisions have been made with respect to the Proposal.
  • The Company does not undertake any obligation to provide any updates with respect to any transaction, except as required under applicable law.
  • These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements.

Partners Value Investments LP and Partners Value Investments Inc. Announce Reorganization

Retrieved on: 
Friday, September 22, 2023
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TORONTO, Sept. 22, 2023 (GLOBE NEWSWIRE) -- Partners Value Investments LP (TSXV: PVF.UN, TSXV: PVF.PR.U) (the “Partnership”) and Partners Value Investments Inc. (TSXV: PVF.WT) (“PVII”) today announced a proposed reorganization with Partners Limited to be implemented by way of a court approved plan of arrangement (the “Arrangement”).

Key Points: 
  • TORONTO, Sept. 22, 2023 (GLOBE NEWSWIRE) -- Partners Value Investments LP (TSXV: PVF.UN, TSXV: PVF.PR.U) (the “Partnership”) and Partners Value Investments Inc. (TSXV: PVF.WT) (“PVII”) today announced a proposed reorganization with Partners Limited to be implemented by way of a court approved plan of arrangement (the “Arrangement”).
  • The effect of the Arrangement is to, among other things, amalgamate Partners Limited with PVII and other related entities, with the resulting entity continuing to be named Partners Value Investments Inc. (“Amalco”), under a newly formed limited partnership named Partners Value Investments L.P. (“New PVI LP”).
  • New PVI LP will have substantially the same capital structure and unit terms as the Partnership.
  • For additional information, please contact Kathy Sarpash, General Counsel and Secretary, or Investor Relations at [email protected] or 416-643-7621.

Polymetal: Proposed cancellation of listing on the Official List and from trading on the London Stock Exchange and notice of General Meeting

Retrieved on: 
Monday, July 10, 2023
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Polymetal International plc (“Polymetal”, the “Company” or the “Group”) announces today its intention to cancel its listing on the London Stock Exchange, subject to shareholder approval.

Key Points: 
  • Polymetal International plc (“Polymetal”, the “Company” or the “Group”) announces today its intention to cancel its listing on the London Stock Exchange, subject to shareholder approval.
  • In the Re-domiciliation Circular, the Board explained the reason for this recommendation and the impact on the Company’s current London Listing.
  • Thereafter, the London Listing will remain suspended from the Re-domiciliation Effective Date until the Date of the London De-listing.
  • The London De-listing Circular contains further information on the London De-Listing and a notice of General Meeting.

TROOPS, Inc. forms special committee to investigate allegations against independent director Mr. Wang Tai Dominic Li

Retrieved on: 
Tuesday, April 11, 2023
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HONG KONG, April 11, 2023 /PRNewswire/ -- TROOPS, Inc. (the "Company") today announced that certain allegations (the "Allegations") were advanced against the independent director of the Company, Mr. Wang Tai Dominic Li ("Mr. Li"), through the Civil Action HCA 938 of 2022.

Key Points: 
  • HONG KONG, April 11, 2023 /PRNewswire/ -- TROOPS, Inc. (the "Company") today announced that certain allegations (the "Allegations") were advanced against the independent director of the Company, Mr. Wang Tai Dominic Li ("Mr. Li"), through the Civil Action HCA 938 of 2022.
  • The Special Committee is comprised of two independent directors of the Board, Ms. Yong Li Huang and Mr. Wood Shing Kei Sze, with Mr. Wood Shing Kei Sze serving as its chairman.
  • The Special Committee has been delegated full authority to investigate the Allegations and to review the Company's internal corporate governance.
  • These forward looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated.

The Parent Company and Gold Flora to Combine to Create a Leading Vertically Integrated Operator in the World's Largest Cannabis Market

Retrieved on: 
Wednesday, February 22, 2023
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Increased size and scale to become a leading operator in the world's largest cannabis market.

Key Points: 
  • Increased size and scale to become a leading operator in the world's largest cannabis market.
  • The combined company will reduce third-party contracts when strategically and cost effectively appropriate by utilizing the capabilities of Gold Flora and controlling its value chain.
  • (1) Represents the pro forma unaudited revenue and gross margin of each of The Parent Company and Gold Flora for the nine-month period ended September 30, 2022.
  • The Business Combination values Gold Flora at $1.50 per Gold Flora Unit and The Parent Company at $0.9847 per TPCO Share.

News Corporation Reports Second Quarter Results for Fiscal 2023

Retrieved on: 
Thursday, February 9, 2023
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The decrease in both free cash flow and free cash flow available to News Corporation was primarily due to lower cash provided by operating activities, as mentioned above.

Key Points: 
  • The decrease in both free cash flow and free cash flow available to News Corporation was primarily due to lower cash provided by operating activities, as mentioned above.
  • Free cash flow and free cash flow available to News Corporation are non-GAAP financial measures.
  • Free cash flow is defined as net cash provided by operating activities, less capital expenditures, and free cash flow available to News Corporation is defined as free cash flow, less REA Group free cash flow, plus cash dividends received from REA Group.
  • The Company believes free cash flow provides useful information to management and investors about the Company’s liquidity and cash flow trends.

Sculptor Capital Management’s Independent Directors Announce Formation of Special Committee to Explore Potential Transactions

Retrieved on: 
Friday, November 18, 2022
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NEW YORK, Nov. 18, 2022 (GLOBE NEWSWIRE) -- Sculptor Capital Management, Inc. (NYSE: SCU) (the Company, or Sculptor Capital) announced today that its Board formed a special committee, comprised solely of independent directors (the Special Committee), to explore potential interest from third parties in a transaction with the Company that maximizes value for shareholders.

Key Points: 
  • NEW YORK, Nov. 18, 2022 (GLOBE NEWSWIRE) -- Sculptor Capital Management, Inc. (NYSE: SCU) (the Company, or Sculptor Capital) announced today that its Board formed a special committee, comprised solely of independent directors (the Special Committee), to explore potential interest from third parties in a transaction with the Company that maximizes value for shareholders.
  • The Special Committee has retained PJT Partners as its financial advisor and Latham & Watkins LLP as its legal counsel.
  • The Special Committee also approved the retention of JPMorgan to act as financial advisor to the Company.
  • Neither the Company nor the Special Committee intends to comment further on the progress of its work unless the Company or the Special Committee determines that further disclosure is appropriate or required by law.

Purple Innovation Announces Formation of Special Committee to Evaluate Unsolicited Takeover Proposal from Coliseum Capital Management

Retrieved on: 
Monday, September 26, 2022
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LEHI, Utah, Sept. 26, 2022 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple" or the "Company"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," today announced that its Board of Directors (the "Board"), in response to an unsolicited and non-binding proposal (the "Coliseum Proposal") from Coliseum Capital Management, LLC (together with certain of its funds and managed accounts, "Coliseum") on September 17, 2022 to acquire all of the outstanding capital stock of the Company it does not already own for $4.35 per share in cash, has formed a special committee of independent and disinterested directors (the "Special Committee") and the Special Committee has approved the adoption of a limited-duration shareholder rights plan (the "Rights Plan"). Coliseum beneficially owns approximately 45% of Purple's outstanding shares.

Key Points: 
  • The Board formed a Special Committee to take any and all actions necessary to evaluate the Coliseum Proposal and determine the course of action that is in the best interests of all of Purple's shareholders.
  • The Special Committee has not reached any conclusion as to the advisability or feasibility of a potential transaction at this time.
  • The Special Committee is comprised of independent directors Gary DiCamillo, Claudia Hollingsworth, Paul Zepf and Dawn Zier.
  • The Special Committee adopted the Rights Plan in response to the Coliseum Proposal, Coliseum's substantial increase in ownership of shares of Purple over the last year and the Special Committee's desire to have the time and flexibility necessary to evaluate the Coliseum Proposal.

Navios Maritime Holdings Inc. Announces $550 Million of Debt Financing

Retrieved on: 
Tuesday, December 14, 2021
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GRAND CAYMAN, Cayman Islands, Dec. 14, 2021 (GLOBE NEWSWIRE) -- Navios Maritime Holdings Inc. (Navios Holdings) (NYSE: NM), a global seaborne shipping and logistics company, today announced that it entered into agreements providing Navios Holdings with a total of $550 million of debt financing.

Key Points: 
  • GRAND CAYMAN, Cayman Islands, Dec. 14, 2021 (GLOBE NEWSWIRE) -- Navios Maritime Holdings Inc. (Navios Holdings) (NYSE: NM), a global seaborne shipping and logistics company, today announced that it entered into agreements providing Navios Holdings with a total of $550 million of debt financing.
  • The proceeds of this financing together with available cash will be used to repay at maturity all of Navios Holdings outstanding 7.375% First Priority Ship Mortgage Notes (Ship Mortgage Notes) due January 15, 2022 and redeem $50.0 million of Navios Holdings outstanding 11.25% Senior Secured Notes (the Senior Secured Notes) due on August 15, 2022 (after which $105.0 million will remain outstanding).
  • Navios Holdings entered into two commercial bank facilities and four sale leaseback agreements in an aggregate principal amount of $287.0 million.
  • Navios Holdings makes no prediction or statement about the performance of its common stock or debt securities.