Global Brands Regulatory News (GBR)

29 Sep 2005 07:15

29th September 2005Global Brands S.A.Placing and Admission to AIMGlobal Brands S.A. ("Global Brands" or the "Company"), announces that, witheffect from 08.00am today (29 September 2005), its existing ordinary shares ofCHF2.10 each ("Ordinary Shares") and new ordinary shares of CHF2.10 each("Placing Shares") issued pursuant to a successful placing, have been admittedto AIM. Ruegg & Co Limited is acting as the nominated adviser, Hichens,Harrison & Co. plc and H B-corporate as joint brokers, and Midas InvestmentManagement Limited as placing agent.Words and expressions defined in the Admission Document published on 23September 2005 shall have the same meaning as in this announcement.Key StatisticsPlacing Price 185 p Number of Placing Shares 1,892,000 Number of Ordinary Shares in issue immediately following the 4,822,860Placing Market Capitalisation of the Company at the Placing Price on ‚£8,922,291Admission Placing Shares as a percentage of the issued share capital 39.23 % Estimated net proceeds of the Placing ‚£2,804,200Yossi Moldawsky, Executive Chairman, said, "We are delighted with GlobalBrands' admission to AIM and the success of the placing as we believe that itwill enable our company to pursue its business strategy as well as enhance theCompany's profile and increase the business opportunities available to us.We are grateful for the considerable support that we have received frominvestors. The proceeds will help us achieve our strategy of opening at least23 more stores in the territory within three years and our aim is to be presentin most major cities in Switzerland by the end of 2007.Home delivery is the fastest growing segment in the Swiss consumer fast foodsector, though it is still underdeveloped and has much room for growth. Ourmanagement team has extensive experience in the fast food sector, and we arewell positioned to supply the anticipated increase in demand".~ Ends ~For further information, please contact:Global Brands Ruegg & Co Hichens, Harrison HB-corporate Dov Lachovitz Brett Miller Christian Dennis Imran Ahmad Chief Executive Officer T: 00 972 3 575 0631 T: 020 7584 3663 T: 020 7382 4473 T: 020 7510 8642 Threadneedle Communications 020 7531 2620 Graham Herring 07793 839 024 NOTES TO EDITORSAbout Global Brands.The Company, which was established in 1999, is the exclusive master franchiseein Switzerland, Luxembourg and Liechtenstein ("the Territory") of Domino'sPizza, the world's leading pizza delivery brand. Since its first store openedin January 2000, the Company has expanded to 7 Company operated stores(including one which opened in September 2005), opened a Commissary and a headoffice which are all based in Switzerland. The 6 established stores currentlyturn over approximately CHF 7.3 million per annum and are all operatingprofitably.The Directors anticipate that the Company is well placed to continue therollout of its stores in Switzerland, Luxembourg and Liechtenstein by thefurther development of a combination of Company operated stores and storessub-franchised to Franchisees.Global Brands has identified other global fast food brands which it intends toconsider bringing into Switzerland and Luxembourg.The Directors believe that the Company has the following key strengths:- the Company owns the exclusive master franchise of Domino's Pizza in theTerritory;- Domino's Pizza International is the internationally acclaimed leading pizzadelivery company with over 7,800 stores in more than 50 countries worldwide;- Domino's Pizza is the only international pizza delivery brand in Switzerland;- home delivery is the fastest growing segment in the consumer foodservicesector in Switzerland; Pizza is the fastest growing area of home delivery.- Global Brands has successfully implemented an initial market penetrationphase into Switzerland by its full operation of 7 stores in four diverselytargeted locations in the country;- the strong and stable Swiss economy; and- Global Brands has an experienced management team with individuals who haveconsiderable experience in the foodservice industry.The Directors believe that there are several opportunities for the Company toexpand further. These include the following:- Opportunities to open at least an additional 23 stores in the Territorywithin the next three years. The Directors currently anticipate that 12 storeswill be Company operated and 11 stores will be subfranchised to Franchisees,which will result in a total of 30 stores in the Territory;- The Directors also believe that sales at existing stores can be increasedthrough the continued use of targeted marketing and by the development ofe-commerce opportunities; and- The Directors intend, subject to the terms of the Master Franchise Agreement,to act to secure other master franchise agreements in the fast food sector inorder to bring new global brands into Switzerland and Luxembourg.DirectorsYossi Moldawsky, aged 33 - Executive ChairmanYossi Moldawsky is an advocate and a member of the Israeli bar. He co-owns theMoldawsky Group of companies and currently serves as its joint general managerwith responsibility for its strategic development focusing on entry to newinternational markets. Yossi is also the Chairman of Yahalomey Givaataim Ltd, areal estate company dealing with property development and long term yieldingassets. He co-founded Samurai Ventures Ltd and serves as a director of thatcompany. In addition, Yossi is also a member of the Israel DiamondManufacturers Association. Yossi is in charge of the overall current and longterm strategy of the Company.Dov Lachovitz, aged 34 - Chief Executive OfficerDov Lachovitz is an advocate and is a member of the Israeli bar. He joined theMoldawsky Group of companies in 1998 as a member of the business developmentdepartment and in 2001 was appointed as a member of its senior management team.Prior to working with the Moldawsky Group of companies, Dov worked for TonirConsulting and Development Ltd., a company specialising in real estate andinsurance, as projects manager and legal counsel. He has both lived and studiedfor several years in the UK and obtained a Bachelor of Law (Honours) degreefrom Kent University. Dov is responsible for the overall management of theCompany, its business development and the implementation of the Board'sdecisions.Andreas Brunner, aged 37 - Chief Operating OfficerAndreas Brunner has over 15 years experience in the food industry withextensive knowledge of the European food sector. Prior to joining the Company,Andreas was a senior executive of a Swiss catering company, Passaggio HoldingAG, part of Autogrill Group, where he was responsible for the conceptdevelopment and construction of new fast food restaurants. He managed 38outlets with a turnover of CHF130 million and 1,300 employees. Andreas headsthe operations department of the Company and is in charge of its day to dayoperation, including the current stores and the Commissary. He is alsoresponsible for the establishment of new stores.Juerg Keller, aged 49 - Chief Financial OfficerJuerg Keller is a financial consultant and runs his own company, Q&A AG, whichprovides consultancy services. Prior to this he worked for Passaggio Holding AGas chief financial officer and was a member of its board with responsibilityfor the finance and accounting, human resources and IT departments. Juergobtained an MBA equivalent from the University of Zurich, and has also workedfor a Swiss auditing and trust company, Treuhand-und Revisiongesellschaft.Juerg is responsible for the financial control and accounting department of theCompany.Christopher Bodker, aged 42 - Non-Executive DirectorChristopher Bodker is the founder and CEO of Moving Image Restaurants Plc whichopened the Avenue Restaurant in St James's, London in December 1995. Hesubsequently opened Circus Restaurant and Bar in Soho in 1997. In 1999, MovingImage Restaurants plc acquired Place Restaurants, the owner of KensingtonPlace, Launceston Place and the Brackenbury Restaurants. The business nowoperates under the name Image Restaurants Plc and has about 120 shareholders.Christopher also sits on the Board of Descent International, a privately heldski travel company. He is a Trustee of the World Monuments Fund in Britain, acharity dedicated to preserving buildings of architectural importance aroundthe World. Christopher studied at Bristol University where he took a degree inEconomics. After university he worked at S.G. Warburg & Co. Ltd. Christopherleft Warburgs in June 1994 to start his own business.Amir Raveh, aged 38 - Non-Executive DirectorAmir Raveh is the founder and managing director of MG Equity Partners Limited,an investment banking advisory firm that focuses on advising foreign companieson capital raisings in the UK. Prior to this he was the founder and CEO ofMediacall Limited, an integrated voice response and on-hold messaging systemsbusiness, established in the UK. This company was sold in 2003. As a directorof this company, he was directly responsible for corporate accounts such as BT,American Express Europe, Bank of Scotland, RCI Europe, All Nippon Airlines, TheRitz Hotel and BMW. Previously Amir held several senior marketing and salespositions in the communications industry including Vice President, Sales &Marketing for City Telecom UK Limited, a provider of telecom and mobile phoneproducts and services. Amir holds an MBA from Middlesex University and a BA inBusiness and Marketing from Tel Aviv University. In addition, he has been amember of the UK Chartered Institute of Marketing since being elected in 1997.This announcement is not for release, distribution or publication in whole orin part in or into the United States, Japan or Australia. The informationcontained herein does not constitute an offer of securities for sale in theUnited States of America, Canada, the Republic of South Africa, the Republic ofIreland, Japan or Australia.This announcement has been issued by the Company and is the sole responsibilityof the Company and has been approved solely for the purposes of Section 21 ofthe Financial Services and Markets Act 2000 by Ruegg & Co Limited of 39 ChevalPlace, London SW7 1EW.This announcement does not constitute or form part of an offer, or anysolicitation of an offer, for securities and any purchase of or application forshares in the Placing should only be made on the basis of information containedin the Admission Document. The price and value of, and income from, shares maygo down as well as up. Persons needing advice should consult a professionaladviser.The information contained herein is not for publication or distribution in orinto the United States of America. The materials do not constitute an offer ofsecurities for sale in the United States of America, nor may the securities beoffered or sold in the United States of America, nor may the securities beoffered or sold in the United States of America absent registration or anexemption from registration as provided in the Securities Act of 1933, asamended, and the rules and regulations thereunder. There is no intention toregister any portion of the offering in the United States or to conduct apublic offering of securities in the United States of America.The information contained herein shall not constitute an offer to sell or thesolicitation of an offer to buy, nor shall there be any sale of the Securitiesreferred to herein in any jurisdiction in which such offer, solicitation orsale would be unlawful prior to registration, exemption of registration orqualification under the securities laws of any such jurisdiction.Ruegg & Co Limited ("Ruegg") is regulated in the United Kingdom by theFinancial Services Authority and is acting solely for the Company in connectionwith the Placing and Admission and no one else. Ruegg has been appointed asnominated adviser and broker to the Company. Ruegg will not regard any otherperson as its client or be responsible to any other person for providing theprotections afforded to clients of Ruegg nor for providing advice in relationto the Placing and Admission. Ruegg is not making any representation orwarranty, express or implied, as to the contents of this announcement. Rueggaccepts no liability whatsoever for the accuracy of any information or opinionsexpressed in this announcement or for the omission of any information.ENDGLOBAL BRANDS S.A.