The counter went XR today (Jun 4, 2014).
The concept of transforming from print to F&B concept looks interesting enough for me to try it out.
3 For 2 Rights Issue At S$0.05 Each With 1 Free Warrant Exercisable At S$0.07 (For holders prior to XRights today only)
(Vested today)
No, i have not looked a lot into the financials.
DYDD
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Global Yellow Pages gets SGX nod for shares, warrants issue
Published on May 11, 2014 9:32 PM
SINGAPORE - Global Yellow Pages said on Sunday that it has received in-principle approval from the Singapore Exchange (SGX) to issue new shares, rights shares and warrants to fund its proposed acquisition of the Gloria Jean's Coffees chain.
The SGX granted approval on Friday for Global Yellow Pages to issue up to 116.3 million shares at seven cents per share as part of the payment for the coffee chain.
The Singapore-listed publisher of business and trade directories said in December it would pay A$35.6 million (S$40.7 million) for the acquisition.
The SGX also gave the green light for Global Yellow Pages' rights-cum-warrants issue and placement of new shares, which it is undertaking to help pay for the purchase.
The company will issue three rights shares and three warrants for every two shares held by existing shareholders. It is also placing out up to 300 million new shares at seven cents apiece.
The SGX's in-principle approval is subject to certain conditions, including shareholders' approval for the proposed acquisition, rights-cum-warrants issue and share placement.
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http://www.fool.sg/2013/12/23/gloria-jea...low-pages/
By Sudhan P - December 23, 2013
Gloria Jean’s Coffees To Be Acquired By Global Yellow Pages
Gloria Jean’s Coffees, Australia’s leading specialty coffee house with 800 coffee houses in 39 markets worldwide, including 400 locations across Australia, and a related intellectual property will be 100% acquired by Global Yellow Pages Limited (SGX: Y07), or GYP.
The global brand will be acquired from Tea & Coffee Traders Pty Ltd, which acts as a trustee for the Saleh Family Trust. Mr Nabi Saleh, an Iranian Australian businessman, is the Executive Chairman of Gloria Jean’s Coffees.
The business being acquired comprises all “Gloria Jean’s Coffees” and “It’s A Grind” intellectual property, the global supply chain operations and the master franchisor business for all Gloria Jean’s Coffees coffee houses over the world. It’s a Grind is a registered trademark of Praise International North America, Inc, which is the affiliate in North America for Gloria Jean’s Coffees International.
GYP believes there is significant room for further growth of the Gloria Jean’s Coffees brand in Asia, especially in People’s Republic of China. Mr Nabi Saleh is slated to continue to be linked to Gloria Jean’s Coffees and will retain interests in the Master Franchisee business for Australia, USA and China.
The acquisition will be funded by a combination of cash and new shares of GYP. The company will be undertaking a rights issue and is planning to raise a total of up to S$62.9 million. The rights issue will also shore up the firm’s financial capability.
Up to 1,257,682,564 shares at an issue price of S$0.05 each will be offered, on the basis of 3 right shares for every 2 existing ordinary shares. One free detachable warrant for each rights share will be offered as well.
The shareholders of GYP have to say aye to the proposed acquisition and the rights issue at a general meeting to be convened, before they go through.
Mr. Mah Bow Tan, Non-Executive Chairman of the company, said, “This is a significant step in our on-going strategy to diversify into other business areas, in particular the food and beverage sector. The acquisition of Gloria Jean’s Coffees is an exciting opportunity for GYP to acquire a leading global coffee business with tremendous growth potential. The coffee drinking culture is growing fast in many Asian countries and we believe that this acquisition will provide GYP with a platform to tap into this growing trend in Asia, especially China. I am delighted that Mr. Nabi Saleh will continue to be closely involved with Gloria Jean’s Coffees. I am convinced this acquisition, together with the ongoing support of Mr. Saleh and our significant shareholder, Mr. Sam Goi, will help to grow shareholders’ value.”
Mr. Nabi Saleh said, “I am excited to have the opportunity to continue to be closely involved with Gloria Jean’s Coffees and I am highly confident that the Gloria Jean’s Coffees brand can reach even greater heights under GYP’s ownership.”
GYP also has a 20.02% interest in Yamada Green Resources Limited (SGX: MC7), a major supplier of edible fungi, operating one of the largest mushroom cultivation bases in Fujian Province, People’s Republic of China.
In the first half of Financial Year 2014, GYP made a loss of S$1.7 million. For the past five years, the stock has slumped 50% overall while the Straits Times Index (SGX: ^STI) has gained 76.3%.
The shares last changed hands at $0.095 on Friday and is trading at a price-to-book ratio of 0.85.
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The Straits Times
Sun, Dec 22 2013
Coffee deal perks up Yellow Pages stock
Shares in GLOBAL Yellow Pages (GYP) shares surged on Thursday on news that it is buying the Gloria Jean's Coffees chain for A$35.6 million, or about S$40.7 million.
The stock closed up 0.5 cents or 5.6 per cent at 9.4 cents on Thursday after a trading halt earlier in the day.
The publisher of business and trade directories, which has other food and beverage holdings, will buy 100 per cent of the cafe chain with a combination of cash and new shares.
It is proposing to raise up to $62.9 million via a rights issue to fund the acquisition.
Non-executive chairman Mah Bow Tan said in a statement: "This is a significant step in our ongoing strategy to diversify into other business areas, in particular the food and beverage sector.
"The coffee-drinking culture is growing fast in many Asian countries and we believe that this acquisition will provide GYP with a platform to tap into this growing trend in Asia, especially China."
Gloria Jean's Coffees has more than 800 cafes in 39 countries.
The purchase agreement is with Tea and Coffee Traders, which is acting as trustee for the Saleh Family Trust.
Mr Nabi Saleh, the executive chairman of Gloria Jean's Coffees, will retain interests in the master franchisee business for Australia, the United States and China.
The rights issue will be partially underwritten by UOB Kay Hian, and supported by sub-underwriting undertakings from GYP chief executive Stanley Tan and Tee Yih Jia executive chairman Sam Goi, who became a shareholder through his investment company earlier this year.
The proposed acquisition and the rights issue are subject to shareholder approval.
The firm said in a statement: "The rights issue provides an exciting opportunity for GYP shareholders to continue to participate in the growth diversification of GYP's business."
GYP also holds an 18.57 per cent stake in Yamada Green Resources, a mushroom grower and processed-food producer, and holdings in Singapore River Explorer, a joint venture with travel company Leisure Empire.
Global Yellow Pages recorded a net loss of $1.6 million in the six months to Sept 30 on revenue of $8.5 million.
rachaelb@sph.com.sg
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