Key Developments: Rnb Retail and Brands publ AB (RNBS.ST)

RNBS.ST on Stockholm Stock Exchange

10.70SEK
11:29am EDT
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10.85kr
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Latest Key Developments (Source: Significant Developments)

RNB carries out reorganization
Wednesday, 15 Jan 2014 01:29am EST 

Rnb Retail and Brands publ AB:Carries out reorganization aimed at boosting the Group’s efficiency in connection with the divestment of the subsidiary JC.Says JC, Brothers & Sisters, Polarn O. Pyret and Departments & Stores concepts will establish a number of functions, which are today handled by RNB’s head office.Says the reorganization means that the number of head office functions in RNB will decrease.Says most of the work on the reorganization is expected to be completed during April.  Full Article

Rnb Retail and Brands publ AB proposes no dividend payment for FY 2012/2013
Thursday, 19 Dec 2013 02:30am EST 

Rnb Retail and Brands publ AB:Says its Board proposes that no dividend should be paid for the fiscal year 2012/2013.  Full Article

Rnb Retail and Brands AB's Polarn O. Pyret Acquires Master Franchise Business in Norway
Tuesday, 12 Nov 2013 02:30am EST 

Rnb Retail and Brands AB announced that the Company's Polarn O. Pyret AB acquires 100% of the shares in WAM AS in Norway. WAM AS, which is the master franchisee of Polarn O. Pyret in Noway, operates 24 physical stores as well as an e-commerce store and is expected to generate net sales of about SEK 130 million. The acquisition includes all 24 of WAM’s Polarn O. Pyret stores situated throughout Norway, an e-commerce store as well as the head office and store staff. Financial details were not disclosed.  Full Article

Rnb Retail and Brands AB Sells JC
Friday, 1 Nov 2013 03:35am EDT 

Rnb Retail and Brands AB announced that it has entered into an agreement to sell the subsidiary JC to Denim Island AB. Denim Island AB is a part of Denim Island Group owned by Gordon Wu. The financial terms of the deal were not disclosed.  Full Article

Rnb Retail and Brands AB Divests Kosta Outlet Mode AB
Friday, 31 May 2013 02:15am EDT 

Rnb Retail and Brands AB announced that it has entered into an agreement to sell the operations of subsidiary Kosta Outlet Mode AB to the Norwegian retail company Airport Retail Group AS. The transaction closes on June 1, 2013. Kosta Outlet Mode is a part of the business area Departments & Stores within the RNB Group. The transaction will have a positive liquidity effect of approximately SEK 10 million and will impact cash flow positively in the third and fourth quarter of 2013.  Full Article

Rnb Retail and Brands AB Restructures JC Operation
Wednesday, 8 May 2013 02:49am EDT 

Rnb Retail and Brands AB announced that as a result of a strategic review of the JC operation, it was decided that the operation will be restructured and a number of unprofitable stores will be closed. In connection to the restructuring and the review of the assortment Mr. Peter Bondelid will assume the position as Chief Executive Officer (CEO) of JC succeeding Mr. Marthyn Inghamn. The decision will have immediate effect and the recruitment of a new CEO has started. Which stores that has been decided to be closed and the timetable for the closure will be determined and communicated during May. There will also be additional measures linked to the restructuring communicated during May. RNB will also perform an extensive review and reorientation of JC's the non-jeans assortment.  Full Article

Rnb Retail and Brands AB Finalizes Rights Issue Allocation
Thursday, 25 Apr 2013 01:55am EDT 

Rnb Retail and Brands AB announced that the subscription period in the Company’s rights issue ended on April 22, 2013. Through the transaction, the Company will receive approximately SEK 463 million before transaction costs. Adding the subscriptions together shows that 67.26% of the offered shares have been subscribed for with subscription rights and 4.38% of the offered shares have been subscribed for without subscription rights. The remaining 28.36% have been subscribed for by an underwriting consortium consisting of a number of investors. Notice regarding allocation of shares subscribed for without subscription rights will be sent to those who have been allocated shares within short. Through the rights issue, the share capital will increase by SEK 198,510,298.47 from SEK 4,962,757.53 to SEK 203 473 056 and the number of shares will increase with 6,617,009,949 from 165,425,251 shares to 6,782,435,200 shares, as soon as the rights issue has been registered with the Swedish Companies Registration Office. Last day for trading interim shares (Sw. BTA) is on the April 29, 2013. The new shares are expected to start trading on NASDAQ OMX Stockholm on May 8, 2013.  Full Article

Rnb Retail and Brands AB's AGM Resolves Share Capital Reduction and Approves Issue of New Shares
Wednesday, 27 Mar 2013 01:58pm EDT 

Rnb Retail and Brands AB announced that the Annual General Meeting (AGM) of the Company approved the Board's resolution of February 21, 2013 to issue new shares with preferential rights for the Company’s existing shareholders. Up to 6,617,010,040 shares will be issued at a subscription price of SEK 0.07, which, at full subscription, represents total rights issue proceeds of approximately SEK 463 million excluding costs related to the transaction. Additionally, the AGM resolved on the reduction of the Company’s share capital by SEK 160,462,493.47, without cancellation of shares, for allocation to a fund to be used at the discretion of the shareholders meeting. The purpose of the reduction is to enable the issue of new shares.  Full Article

Rnb Retail and Brands AB Resolves on Terms for Rights Issue
Tuesday, 26 Mar 2013 03:10am EDT 

Rnb Retail and Brands AB announced previously its Board’s resolution on a SEK 450 million new share issue with preferential rights for Company’s existing shareholders. The Board resolved on subscription price and terms of the issue. Those who on record date April 3, 2013 are registered as shareholders in RNB have preferential rights to subscribe for 40 new shares for every (one) existing share held. Each (one) share in RNB entitles the holder to four subscription rights and one subscription right entitles to subscription of 10 new shares. The subscription price has been set to SEK 0.07 per share, which assuming a fully subscribed issue corresponds to total proceeds of SEK 463 million before transaction costs. Up to 6,617,010,040 new shares will be issued, which at full subscription represents a share capital increase of SEK 198,510,301.20 to a total of SEK 203,473,058.73. The issue is subject to approval by Extraordinary General Meeting, to be held March 27, 2013. Shareholders have granted subscription undertakings and underwriting commitments in respect of approximately 72% of the issue. The Company has also received underwriting commitments from an external consortium, including Carnegie Investment Bank, making the issue fully underwritten. Ovington Financial Partners and Carnegie are financial advisors, Carnegie is sole manager and Advokatfirman Torngren Magnell is legal adviser to RNB and Gernandt & Danielsson is legal adviser to Carnegie in connection with the issue.  Full Article

Rnb Retail and Brands AB's Shares Fall 23% After Information of Share Issue-Reuters
Friday, 22 Feb 2013 03:04am EST 

Reuters reported that Rnb Retail and Brands AB' shares fell 23% after publishing information of new shares issue.  Full Article

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