Landry's Delivers Letter To Ark Restaurants Corp. Offering To Acquire Company For $22.00 Per Share
Landry's, Inc. ("Landry's") announced that it has sent a letter to Ark Restaurants Corp. (ARKR) proposing to acquire Ark in a negotiated transaction for $22.00 per share, which represents a 22% premium to Ark's closing price on February 6, 2013. A copy of the letter is set forth below.
Imvescor Restaurant Group Inc. Reports Improved Financial Results
Imvescor Restaurant Group Inc. ("IRG" or the "Company") (IRG.TO) reported financial results today for the 13 weeks ended October 28, 2012 (or "fourth quarter") and 52 weeks ended October 28, 2012 (or "year end"). The 2011 results are for the 13 and 52 weeks ended October 30, 2011 .
K-Swiss to Be Acquired by E.Land World for $4.75 Per Share in Cash
K•Swiss Inc. (KSWS) and E.Land World Ltd. announced today entry into a definitive agreement pursuant to which E.Land World will acquire all of the outstanding common stock of K•Swiss for $4.75 per share in cash, or a total equity value of approximately $170 million.
Under the terms of the agreement, which was unanimously approved by K•Swiss’ Board of Directors, K•Swiss stockholders will receive $4.75 in cash for each outstanding Class A and Class B share of K•Swiss common stock they own, representing a 49% premium over the closing price for a share of Class A common stock on the NASDAQ Stock Market on January 16, 2013, and a 62% premium over the three-month, volume-weighted average trading price for a share of Class A common stock on the NASDAQ Stock Market as of January 16, 2013.
Kingold Jewelry Announces Sale of Common Stock to China-based Investors for $12.6 Million
Kingold Jewelry, Inc. (KGJI), ("Kingold" or the "Company"), one of China's leading manufacturers and designers of high quality 24-karat gold jewelry, ornaments and investment-oriented products, today announced that the Company has entered into a Subscription Agreement ("Agreement") with three individuals providing for the sale of 7,000,000 shares of its common stock at a price of $1.80 per share for gross proceeds of $12,600,000.
The Company also issued to the investors, on a pro rata basis, warrants to purchase up to an additional 2,800,000 shares of its common stock at an exercise price of $1.80, which warrant is not cashless exercise but is exercisable at any time in whole or in part for twelve months following the date of the Agreement.
VOXX International Corporation Reports Fiscal 2013 Third Quarter Results
VOXX International Corporation (VOXX), today announced financial results for its fiscal 2013 third quarter ended November 30, 2012.
Fiscal Third Quarter Highlights:Sales increased 17.5%, driven by the Hirschmann acquisition and increases in mobile OEM and in accessories. Gross margins of 28.8% ahead of internal projections due to product mix and increases in select categories; operating expenses, excluding Hirschmann decreased by $2.1 million or 5.1%.
Good Times Restaurants Inc. Announces First Quarter Sales Increase
Good Times Restaurants Inc. (GTIM) today announced its same store sales increased 11.6% for the month of December and 3.8% for its first fiscal quarter. Sales for the new breakfast daypart featuring authentic Hatch Valley Green Chile Breakfast Burritos were approximately 5.9% for the quarter, which was rolled out system-wide throughout the quarter.
Commenting on the sales trends, President & CEO, Boyd Hoback said, “We have had a cumulative increase in same store sales in excess of 20% over the last three years in our first quarter and we are excited about additional initiatives planned for this year to continue our momentum.
A&W Revenue Royalties Income Fund adds 23 restaurants to Royalty Pool
TRADING SYMBOL: The Toronto Stock Exchange - AW.UN
A&W Revenue Royalties Income Fund (the Fund) and A&W Food Services of Canada Inc. (A&W Food Services) announced today that, effective January 5, 2013, the number of A&W restaurants for which royalties are paid to A&W Trade Marks Limited Partnership (the Partnership) will be increased by 29 new restaurants that were opened across Canada between October 2011 and September 2012, less six restaurants that were permanently closed during this period. The addition of these 23 net new restaurants brings the total number of A&W restaurants in the Royalty Pool to 760. This is the 11th increase in the number of restaurants in the Royalty Pool since the inception of the Fund in 2002. Since that time, the number of restaurants for which royalties are paid to the Fund (through the Partnership) has increased by 175 restaurants, from 585 to 760.
Caribou Enters into Merger Agreement to be Acquired by Joh. A. Benckiser for $16.00 Per Share in Cash
Transaction Valued at Approximately $340 Million
Caribou Coffee Company, Inc. (CBOU), the second-largest company-owned premium coffeehouse operator in the United States based on the number of coffeehouses, and the Joh. A. Benckiser Group (JAB) announced a definitive merger agreement under which an affiliate of JAB will acquire Caribou for $16.00 per share in cash, or a total of approximately $340 million. The agreement, which has been unanimously approved by Caribou’s independent directors, represents a premium of approximately 30 percent over Caribou’s closing stock price on December 14, 2012, the last trading day prior to the announcement of the transaction.
Good Times Restaurants Inc. Announces Continued Same Store Sales Growth and Completion of Breakfast Rollout
Good Times Restaurants Inc. (GTIM) today announced its same store sales increased 6.8% for the month of November. Same store sales decreased .9% for its fourth fiscal quarter ended September 30, 2012, however road construction materially impacted two restaurants and without those disruptions, same stores sales would have increased 1.3% in the fourth quarter, the ninth consecutive quarter of same store sales increases.
A&W Revenue Royalties Income Fund Announces December 2012 Cash Distribution
A&W Revenue Royalties Income Fund (the Fund) (TSX symbol AW.UN) today declared a cash distribution of 11.7 cents per trust unit for the period November 1 to November 30, 2012. The distribution will be paid to unitholders of record at the close of business on December 15, 2012, and will be payable on December 31, 2012. This distribution will be taxed as a non-eligible dividend, as the source of funds to pay the distribution is a dividend from A&W Trade Marks Inc. (Trade Marks).
A&W Food Services of Canada Inc. (Food Services) will also receive a similar dividend from Trade Marks on its investment in Trade Marks.
Green Mountain Coffee Roasters, Inc. Appoints Brian Kelley CEO Effective December 3, 2012
Kelley Brings World Class Consumer Products Experience to GMCR’s Business
Green Mountain Coffee Roasters, Inc., (GMCR) (GMCR), a leader in specialty coffee and coffee makers, today announced Brian Kelley will become President and Chief Executive Officer and a member of the Board of Directors effective December 3, 2012.
The appointment of Mr. Kelley, a proven consumer products executive, signals GMCR’s intent to build upon its well-established expertise in single-serve beverages and to leverage its leading consumer brands, Keurig® and Green Mountain Coffee®.
Leon's to acquire The Brick
Leon's Furniture Limited (TSX:LNF.TO - News) and The Brick Ltd. (TSX:BRK.TO - News) are pleased to announce that they have entered into a definitive agreement (the "Arrangement Agreement") that provides for the acquisition of The Brick by Leon's by way of plan of arrangement (the "Arrangement") for $5.40 per share (the "Share Consideration"). Leon's will also acquire all of the outstanding common share purchase warrants of The Brick for $4.40 per warrant. The total consideration payable to Brick shareholders and warrantholders is approximately $700 million.
The Share Consideration represents a premium of approximately 62% to the 20-day volume weighted average price of The Brick's common shares on the TSX as of November 9, 2012. The warrants, which have an exercise price of $1.00 and expire on May 27, 2014, had a closing price on the TSX of $2.36 on November 9, 2012. The closing price of the Brick shares on the TSX on November 9, 2012 was $3.50.
A&W Revenue Royalties Income Fund Announces November 2012 Cash Distribution
A&W Revenue Royalties Income Fund (the Fund) (TSX symbol AW.UN) today declared a cash distribution of 11.7 cents per trust unit for the period October 1 to October 31, 2012. The distribution will be paid to unitholders of record at the close of business on November 15, 2012, and will be payable on November 30, 2012. This distribution will be taxed as a non-eligible dividend, as the source of funds to pay the distribution is a dividend from A&W Trade Marks Inc. (Trade Marks). A&W Food Services of Canada Inc. (Food Services) will also receive a similar dividend from Trade Marks on its investment in Trade Marks.
K-Swiss Reports Third Quarter Results
K•Swiss Inc. (KSWS) today announced results for the third quarter ended September 30, 2012. The operations of FORM Athletics are accounted for as a discontinued operation in the Company’s financial results and are excluded from futures orders data for the prior-year periods.
Net loss for the third quarter of 2012 was $1,926,000, or $0.05 per diluted share, compared with a net loss of $15,418,000, or $0.43 per diluted share, for the prior-year period. Net loss for the nine months ended September 30, 2012, was $20,263,000, or $0.57 per diluted share, compared with a net loss of $45,286,000, or $1.28 per diluted share, for the nine months ended September 30, 2011.
Heelys, Inc. Announces Asset Purchase Agreement with The Evergreen Group and Adoption of Plan of Liquidation and Dissolution
Heelys, Inc. (HLYS) (the "Company" or "Heelys") and The Evergreen Group Ventures, LLC ("Evergreen") announced today that on October 22, 2012, they entered into a definitive asset purchase agreement under which an affiliate of Evergreen will acquire substantially all of the operating assets and assume substantially all of the operating liabilities of Heelys and its subsidiaries for $13.9 million in cash, subject to customary pre- and post-closing adjustments (the "Transaction"). Heelys' cash and marketable securities, which totaled approximately $58.2 million as of June 30, 2012, will not be included in the assets to be acquired in the Transaction. The Transaction was unanimously approved by Heelys' board of directors (the "Board").
Cybex International, Inc. Announces “Going Private” Merger Agreement
Cybex International, Inc. (NASDAQ: CYBI), a leading U.S. manufacturer of premium exercise equipment (“Cybex” or the “Company”), announced today that its board of directors has authorized the Company to enter into a “going private” merger agreement pursuant to which each of its outstanding shares of common stock - other than shares owned by its largest shareholder, UM Holdings, Ltd. (“UM”), and UM’s subsidiaries and shareholders, which include John Aglialoro, Cybex’s chairman and CEO, and Joan Carter, a director of the Company – will be converted into $2.55 per share payable in cash. This transaction will be effectuated by means of a merger of a newly-formed, wholly-owned subsidiary of UM into Cybex pursuant to an Agreement and Plan of Merger (“Merger Agreement”). Following this merger, the Company will be solely owned by UM, Mr. Aglialoro and Ms. Carter, who currently collectively own approximately 49.5% of the Company’s common stock.
American Lorain Corporation Announces Receipt of "Going Private" Proposal
American Lorain Corporation (NYSE Amex: ALN) (the "Company"), an international processed snack foods, convenience foods, and frozen foods company based in the Shandong Province, China, today announced that its Board of Directors has received a preliminary, non-binding proposal letter dated October 9, 2012 from Mr. Si Chen, Chairman, CEO and President of the Company, to acquire all of the outstanding ordinary shares of the Company not currently owned by Mr. Chen at a proposed price of $1.6 per ordinary share, in cash, subject to certain conditions. Mr. Chen currently beneficially owns, in the aggregate, approximately 46.5% of the Company's outstanding ordinary shares.
True Religion Apparel Announces Exploration of Strategic Alternatives
True Religion Apparel, Inc. (TRLG) today announced that after receiving indications of interest from third parties regarding a potential transaction with the Company, the Board of Directors has formed a Special Committee comprised of its non-management directors to explore and evaluate potential strategic alternatives available to the Company, including a possible sale, in order to maximize shareholder value.
No decision has been made to engage in a transaction or transactions, and there can be no assurance that any transaction or any other strategic alternative will occur or, if undertaken, the terms or timing thereof.
Coffee Holding Co., Inc. Reports Results for the Three and Nine Months Ended July 31, 2012
Coffee Holding Co., Inc. ("Coffee Holding") ( NASDAQ : JVA ) today announced its operating results for the three and nine months ended July 31, 2012. In this release, the Company:Reports net sales of $138,171,695 for the nine months ended July 31, 2012 and $44,484,453 for the three months ended July 31, 2012 compared to net sales of $98,737,976 for the nine months ended July 31, 2011 and $35,764,866 for the three months ended July 31, 2011; Reports sales growth of 24% for the three months ended July 31, 2012 compared to the three months ended July 31, 2011; and
lululemon athletica inc. Announces Second Quarter Fiscal 2012 Results
lululemon athletica inc. (LULU) (LLL.TO) today announced financial results for the second quarter ended July 29, 2012.
For the thirteen weeks ended July 29, 2012:Net revenue for the quarter increased 33% to $282.6 million from $212.3 million in the second quarter of fiscal 2011. Comparable stores sales for the second quarter increased by 15% on a constant dollar basis. Direct to consumer revenue increased 91% to $35.4 million, or 12.5% of total company revenues, in the second quarter of fiscal 2012, an increase from 8.8% of total company revenues in the second quarter of fiscal 2011.