Infinity Eng Regulatory News (INFT)

29 Sep 2005 08:15

29th September 2005 Global Brands S.A. Placing and Admission to AIM Global Brands S.A. ('Global Brands' or the 'Company'), announces that, with effect from 08.00am today (29 September 2005), its existing ordinary shares of CHF2.10 each ('Ordinary Shares') and new ordinary shares of CHF2.10 each ('Placing Shares') issued pursuant to a successful placing, have been admitted to AIM. Ruegg & Co Limited is acting as the nominated adviser, Hichens, Harrison & Co. plc and H B-corporate as joint brokers, and Midas Investment Management Limited as placing agent. Words and expressions defined in the Admission Document published on 23 September 2005 shall have the same meaning as in this announcement. Key Statistics Placing Price 185 p Number of Placing Shares 1,892,000 Number of Ordinary Shares in issue immediately following the 4,822,860 Placing Market Capitalisation of the Company at the Placing Price on £8,922,291 Admission Placing Shares as a percentage of the issued share capital 39.23 % Estimated net proceeds of the Placing £2,804,200 Yossi Moldawsky, Executive Chairman, said, 'We are delighted with Global Brands' admission to AIM and the success of the placing as we believe that it will enable our company to pursue its business strategy as well as enhance the Company's profile and increase the business opportunities available to us. We are grateful for the considerable support that we have received from investors. The proceeds will help us achieve our strategy of opening at least 23 more stores in the territory within three years and our aim is to be present in most major cities in Switzerland by the end of 2007. Home delivery is the fastest growing segment in the Swiss consumer fast food sector, though it is still underdeveloped and has much room for growth. Our management team has extensive experience in the fast food sector, and we are well 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 EDITORS About Global Brands. The Company, which was established in 1999, is the exclusive master franchisee in Switzerland, Luxembourg and Liechtenstein ('the Territory') of Domino's Pizza, the world's leading pizza delivery brand. Since its first store opened in January 2000, the Company has expanded to 7 Company operated stores (including one which opened in September 2005), opened a Commissary and a head office which are all based in Switzerland. The 6 established stores currently turn over approximately CHF 7.3 million per annum and are all operating profitably. The Directors anticipate that the Company is well placed to continue the rollout of its stores in Switzerland, Luxembourg and Liechtenstein by the further development of a combination of Company operated stores and stores sub-franchised to Franchisees. Global Brands has identified other global fast food brands which it intends to consider 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 the Territory; - Domino's Pizza International is the internationally acclaimed leading pizza delivery 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 foodservice sector in Switzerland; Pizza is the fastest growing area of home delivery. - Global Brands has successfully implemented an initial market penetration phase into Switzerland by its full operation of 7 stores in four diversely targeted locations in the country; - the strong and stable Swiss economy; and - Global Brands has an experienced management team with individuals who have considerable experience in the foodservice industry. The Directors believe that there are several opportunities for the Company to expand further. These include the following: - Opportunities to open at least an additional 23 stores in the Territory within the next three years. The Directors currently anticipate that 12 stores will 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 increased through the continued use of targeted marketing and by the development of e-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 in order to bring new global brands into Switzerland and Luxembourg. Directors Yossi Moldawsky, aged 33 - Executive Chairman Yossi Moldawsky is an advocate and a member of the Israeli bar. He co-owns the Moldawsky Group of companies and currently serves as its joint general manager with responsibility for its strategic development focusing on entry to new international markets. Yossi is also the Chairman of Yahalomey Givaataim Ltd, a real estate company dealing with property development and long term yielding assets. He co-founded Samurai Ventures Ltd and serves as a director of that company. In addition, Yossi is also a member of the Israel Diamond Manufacturers Association. Yossi is in charge of the overall current and long term strategy of the Company. Dov Lachovitz, aged 34 - Chief Executive Officer Dov Lachovitz is an advocate and is a member of the Israeli bar. He joined the Moldawsky Group of companies in 1998 as a member of the business development department 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 Tonir Consulting and Development Ltd., a company specialising in real estate and insurance, as projects manager and legal counsel. He has both lived and studied for several years in the UK and obtained a Bachelor of Law (Honours) degree from Kent University. Dov is responsible for the overall management of the Company, its business development and the implementation of the Board's decisions. Andreas Brunner, aged 37 - Chief Operating Officer Andreas Brunner has over 15 years experience in the food industry with extensive knowledge of the European food sector. Prior to joining the Company, Andreas was a senior executive of a Swiss catering company, Passaggio Holding AG, part of Autogrill Group, where he was responsible for the concept development and construction of new fast food restaurants. He managed 38 outlets with a turnover of CHF130 million and 1,300 employees. Andreas heads the operations department of the Company and is in charge of its day to day operation, including the current stores and the Commissary. He is also responsible for the establishment of new stores. Juerg Keller, aged 49 - Chief Financial Officer Juerg Keller is a financial consultant and runs his own company, Q&A AG, which provides consultancy services. Prior to this he worked for Passaggio Holding AG as chief financial officer and was a member of its board with responsibility for the finance and accounting, human resources and IT departments. Juerg obtained an MBA equivalent from the University of Zurich, and has also worked for a Swiss auditing and trust company, Treuhand-und Revisiongesellschaft. Juerg is responsible for the financial control and accounting department of the Company. Christopher Bodker, aged 42 - Non-Executive Director Christopher Bodker is the founder and CEO of Moving Image Restaurants Plc which opened the Avenue Restaurant in St James's, London in December 1995. He subsequently opened Circus Restaurant and Bar in Soho in 1997. In 1999, Moving Image Restaurants plc acquired Place Restaurants, the owner of Kensington Place, Launceston Place and the Brackenbury Restaurants. The business now operates under the name Image Restaurants Plc and has about 120 shareholders. Christopher also sits on the Board of Descent International, a privately held ski travel company. He is a Trustee of the World Monuments Fund in Britain, a charity dedicated to preserving buildings of architectural importance around the World. Christopher studied at Bristol University where he took a degree in Economics. After university he worked at S.G. Warburg & Co. Ltd. Christopher left Warburgs in June 1994 to start his own business. Amir Raveh, aged 38 - Non-Executive Director Amir Raveh is the founder and managing director of MG Equity Partners Limited, an investment banking advisory firm that focuses on advising foreign companies on capital raisings in the UK. Prior to this he was the founder and CEO of Mediacall Limited, an integrated voice response and on-hold messaging systems business, established in the UK. This company was sold in 2003. As a director of this company, he was directly responsible for corporate accounts such as BT, American Express Europe, Bank of Scotland, RCI Europe, All Nippon Airlines, The Ritz Hotel and BMW. Previously Amir held several senior marketing and sales positions in the communications industry including Vice President, Sales & Marketing for City Telecom UK Limited, a provider of telecom and mobile phone products and services. Amir holds an MBA from Middlesex University and a BA in Business and Marketing from Tel Aviv University. In addition, he has been a member of the UK Chartered Institute of Marketing since being elected in 1997. This announcement is not for release, distribution or publication in whole or in part in or into the United States, Japan or Australia. The information contained herein does not constitute an offer of securities for sale in the United States of America, Canada, the Republic of South Africa, the Republic of Ireland, Japan or Australia. This announcement has been issued by the Company and is the sole responsibility of the Company and has been approved solely for the purposes of Section 21 of the Financial Services and Markets Act 2000 by Ruegg & Co Limited of 39 Cheval Place, London SW7 1EW. This announcement does not constitute or form part of an offer, or any solicitation of an offer, for securities and any purchase of or application for shares in the Placing should only be made on the basis of information contained in the Admission Document. The price and value of, and income from, shares may go down as well as up. Persons needing advice should consult a professional adviser. The information contained herein is not for publication or distribution in or into the United States of America. The materials do not constitute an offer of securities for sale in the United States of America, nor may the securities be offered or sold in the United States of America, nor may the securities be offered or sold in the United States of America absent registration or an exemption from registration as provided in the Securities Act of 1933, as amended, and the rules and regulations thereunder. There is no intention to register any portion of the offering in the United States or to conduct a public offering of securities in the United States of America. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption of registration or qualification under the securities laws of any such jurisdiction. Ruegg & Co Limited ('Ruegg') is regulated in the United Kingdom by the Financial Services Authority and is acting solely for the Company in connection with the Placing and Admission and no one else. Ruegg has been appointed as nominated adviser and broker to the Company. Ruegg will not regard any other person as its client or be responsible to any other person for providing the protections afforded to clients of Ruegg nor for providing advice in relation to the Placing and Admission. Ruegg is not making any representation or warranty, express or implied, as to the contents of this announcement. Ruegg accepts no liability whatsoever for the accuracy of any information or opinions expressed in this announcement or for the omission of any information.