Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 33 n° 335

Posts Tagged ‘holdings’

DPW Holdings, Inc. Announces Adjournment of Annual Meeting of Stockholders

Posted by fidest press agency su giovedì, 4 luglio 2019

DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”) today announced partial results and the partial adjournment of the Company’s 2019 Annual Meeting of Stockholders (the “Annual Meeting”), which was held at 9:00 a.m. on July 2, 2019 and, at which time, all director nominees were elected and Proposals 2, 3 and 6, as set forth in the Company’s Definitive Proxy Statement, were approved by stockholders. Stockholders voted, on an advisory basis, in favor of annual votes on executive compensation (Proposal 4).
The Company adjourned the meeting with respect to Proposal 5 (to approve a reverse stock split of our common stock by a ratio of not less than one-for-5 and not more than one-for-40, with the exact ratio to be set by the board of directors) and Proposal 7 (to approve an amendment to our 2018 Stock Incentive Plan, which would, among other things, increase the number of shares of our common stock that may be issued thereunder to a total of 7,000,000 shares), in each case for the limited purpose of allowing additional time for stockholders to vote on the proposal.While Proposal 5 exceeded 64% approval of the votes cast, approval of more than 50% of all outstanding shares of our capital stock is necessary for the proposal to be approved. While the votes cast prior to adjournment strongly favored the reverse split proposal, no more than approximately 43.1% of votes were cast; approximately 33% of the shares remained unvoted on Proposal 5.Proposal 7 did not require approval of more than 50% of all outstanding shares of our capital stock for the proposal to be approved, no more than approximately 33% of the votes were cast in favor of Proposal 7, whereas approximately 64% of such votes were case against Proposal 7.Based on the total votes cast prior to adjournment in the case of Proposal 5 and the votes against in the case of Proposal 7, and in order to simplify these proposals, the board of directors (the “Board”) elected to withdraw Proposals 5 and 7 and adjourn the Annual Meeting until 9:00 a.m. (Pacific Time) on July 19, 2019 for the sole purpose of allowing additional time for stockholders to vote on Proposals 5 and 7.

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8S Capital Holdings Announces Voluntary Conditional Cash Offer for 800 Super Holdings

Posted by fidest press agency su martedì, 7 Maggio 2019

8S Capital Holdings Pte. Ltd. (the “Offeror”) today announced its intention to make a voluntary conditional cash offer (the “Offer”) for all the issued and paid-up ordinary shares (the “Shares”) of 800 Super Holdings Limited (SGX: 5TG) (“800 Super” or the “Company”) other than those Shares held by the Offeror as at the date of the Offer (the “Offer Shares”).
Lee Koh Yong, a Director of the Offeror, commented, “The Offer represents an opportunity for shareholders to realise their entire investment in the Shares at a premium to historical trading prices. It also provides shareholders with a means for a clean cash exit that would otherwise not be available given the low trading liquidity of the Shares. At the same time, privatising will enable 800 Super to save on expenses relating to the maintenance of a listed status and allow the Company to focus its resources on operational matters amidst the competitive business landscape.” Lee Koh Yong is also the Executive Chairman of 800 Super.The Offer will be conditional upon the Offeror having received not less than 90% of the total number of issued Shares as at the close of the Offer3. As at the date of this announcement, Lee Koh Yong and five of his siblings (collectively, the “Lee Family Members”), as well as a vehicle wholly-owned by the Lee Family Members (“YSI”), who together hold approximately 77.6% of the Shares, have provided irrevocable undertakings to accept the Offer and roll all of their Shares into the Offeror by subscribing for ordinary shares in the Offeror4 (the “Subscription”). Following the Subscription, the Lee Family Members and YSI will own all of the ordinary shares of the Offeror5.If the Offeror succeeds in garnering acceptances exceeding 90% of the total number of issued Shares, it intends to delist the Company.Leading global investment firm KKR intends to fund the Offer by providing a hybrid combination of debt and structured equity financing to the Offeror, primarily from pools of capital including KKR’s Private Credit Opportunities II fund and proprietary investment vehicles.Lee Cheng Chye, a Director of the Offeror, said, “Our family welcomes the financing solution provided by KKR. The innovative structure of the deal enables us to continue owning the Company and we look forward to go on working with the Company’s existing management team and employees in partnership with KKR.” Lee Cheng Chye is also an Executive Director and the Chief Executive Officer of 800 Super.
Ashish Shastry, Member & CEO of KKR Southeast Asia, said, “KKR’s primary goal in this region is to work with great entrepreneurs and the founding families of homegrown businesses. We are very flexible on the type of support we provide — in this case, the Lee family required a credit-oriented solution, but we are also working with family groups by making majority or minority equity investments. We are looking forward to doing more with the Lee family and other great entrepreneurial families in Singapore and across Southeast Asia.”An offer document setting out the terms and conditions of the Offer and enclosing the relevant form(s) of acceptance will be despatched to shareholders not earlier than 14 days and not later than 21 days from today.RHB Securities Singapore Pte. Ltd. (“RHBSEC”) is the financial adviser to the Offeror in connection with the Offer, while WongPartnership LLP is the legal adviser to the Offeror in connection with the Offer.

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Dubai’s Construction Giant Reign Holdings Scoops Major Real Estate Award

Posted by fidest press agency su venerdì, 22 marzo 2019

Reign Holdings Group Chairman Samir Salya is celebrating after the global firm scooped a major international business award. His multi-billion-pound construction company has been named as one of the Top Real Estate Companies in the Middle East by Forbes Magazine.
Mr. Salya was presented with the award at a glittering ceremony in the Waldorf Astoria Hotel at Dubai’s Palm Jumeirah, where the judges said they wanted to celebrate Reign Holdings’ ongoing work in the region.The company has already won plaudits for its residential and commercial real estate development and has plans to invest a further $1 – $1.5billion in Dubai and Europe between now and 2022.Reign Holdings is currently creating more than 1,500 new residential units in design stage and constructing more than 1,500 residential units globally. Hotels and residential tower accommodations are being built in Jumeriah Village Circle alongside designing development plots at the iconic World Islands and Palm Jumeirah sites.Mr. Salya, who was named one of the Top 100 Indian leaders in The Arab World in Forbes Middle East’s annual round-up last year, said he was delighted and honored to see Reign Holdings’ achievement recognized publicly and globally.He said: “We have a long and distinguished history of creating and delivering top quality projects in various regions this recognition by the panel is a testament to the pioneering work that Reign produces to develop unique and innovative concepts.“Our plans and projections for the next three years are extremely positive, and we are thrilled to see our contribution to Dubai’s continuing growth recognised in this way.”

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Mitsubishi UFJ Lease & Finance to Acquire ENGS Holdings, Inc.

Posted by fidest press agency su martedì, 30 ottobre 2018

ENGS Commercial Finance Co. (”ENGS”), an industry leading commercial finance company, is pleased to announce that its shareholders, led by Aquiline Capital Partners, a New York-based private equity firm investing in financial services, has entered into an agreement to sell all shares of ENGS to Mitsubishi UFJ Lease & Finance Company Limited (“MUL”). MUL is a prominent global leasing company headquartered in Tokyo and its principal shareholders include Mitsubishi Corporation, a leading Japanese trading and investment company, and Mitsubishi UFJ Financial Group, Inc., one of the world’s leading financial institutions. In Japan, MUL has consistently delivered leading vendor-based financing products to customers and is a leading equipment lender. In 2015, MUL expanded its vendor financing capabilities outside of Japan by launching a dedicated business in Thailand.
Through its acquisition of ENGS, MUL is now extending its global reach of vendor finance to the United States of America (“U.S.”), the largest equipment finance market in the world. Since Aquiline became the majority investor in ENGS in February 2015, Aquiline and ENGS have worked to expand ENGS’ footprint and diversify ENGS’ offerings, expanding into the industrial, construction, factoring and insurance sectors. With this transaction, ENGS will continue to expand its existing relationships and markets with its U.S. based vendors. ENGS will also be the U.S. vendor-based platform for MUL’s international clients doing business in the U.S.“We are extremely excited to become part of the MUL family,” commented Craig Weinewuth, President and CEO of ENGS. “The strength and power of the MUL brand worldwide is unrivaled. Becoming the U.S.-based vendor finance platform to carry out MUL’s vision will provide great benefits to our employees, vendors and customers. Together with MUL’s existing U.S. businesses, we will be able to offer our vendor and customer clients products and services that very few in the U.S. can match.” Mr. Weinewuth continued, “MUL will be a great fit for ENGS. MUL and ENGS share the same vision to become the leading commercial finance company in the U.S. We will achieve this by providing the best-in-class products and services to our vendors and customers. This will enable them to grow their businesses most efficiently.” The transaction is subject to approval under Hart-Scott-Rodino Act and is expected to close in the fourth quarter of 2018. J.P. Morgan Securities LLC served as exclusive financial advisor and Latham & Watkins LLP served as legal counsel to ENGS.

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Scilipoti incontra Thomas Taylor

Posted by fidest press agency su venerdì, 1 luglio 2011

L’on. Domenico Scilipoti (MRN) si è recato a Londra, presso la Camera dei Lords, per un incontro informale su invito di Lord Thomas Taylor, già Presidente del Consiglio Consultivo di Energia Elettrica e Presidente Nazionale dell’Autorità per l’Istruzione del Regno Unito, nonché consulente di varie Holdings e fondatore del Consiglio dell’Università di Lancaster. Nell’occasione vi è stato un proficuo scambio di idee su tematiche importanti che interessano i due Stati quali le condizioni e le problematiche relative al mondo della scuola, alla disciplina delle intercettazioni telefoniche, alla medicina non convenzionale, all’ambiente e alle fonti energetiche rinnovabili. L’incontro si è concluso con lo scambio reciproco dell’impegno di un futuro confronto, programmato per il prossimo autunno.

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