Key Developments: Tesco PLC (TSCDF.PK)

TSCDF.PK on OTC Markets Group

2.88USD
20 Oct 2014
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Latest Key Developments (Source: Significant Developments)

Tesco PLC updates on CFO joining date
Tuesday, 23 Sep 2014 02:01am EDT 

Tesco PLC:Says further to Tesco PLC's announcement on July 28, the company announces that Alan Stewart will join board as Chief Financial Officer with effect from Sept. 23, rather than previously announced date of Dec. 1.  Full Article

Tesco identifies overstatement of expected profit for half year
Monday, 22 Sep 2014 02:00am EDT 

Tesco PLC:Says during its final preparations for the forthcoming interim results, Tesco has identified an overstatement of its expected profit for the half year.Says principally due to the accelerated recognition of commercial income and delayed accrual of costs.Says on the basis of preliminary investigations into the UK food business, the Board believes that the guidance issued on Aug. 29, 2014 for the Group profits for the six months to Aug. 23, 2014 was overstated by an estimated £250 mln.Says work is ongoing to establish the extent of these issues and what impact they will have on the full year.Says Board has asked Deloitte to undertake an independent and comprehensive review of these issues, working closely with Freshfields, the Group's external legal advisers.Says further update on interim results, which will be announced on Oct. 23.  Full Article

Tesco PLC announces Chief Executive Officer change
Friday, 29 Aug 2014 02:02am EDT 

Tesco PLC:Says David Lewis will join the Board as Chief Executive Officer with effect from Sept. 1, when Philip Clarke will step down.  Full Article

Tesco PLC updates on CFO appointment
Monday, 28 Jul 2014 10:55am EDT 

Tesco PLC:Says further to Tesco PLC's announcement on July 10, 2014, company announces that Alan Stewart will join Board as Chief Financial Officer with effect from Dec. 01, 2014.  Full Article

Tesco PLC announces appointment of CEO; sees H1 2015 outlook below expectations
Monday, 21 Jul 2014 02:00am EDT 

Tesco PLC:Dave Lewis will join Board of Tesco on Oct. 1 as Chief Executive Officer in succession to Philip Clarke.Says that overall market is weaker and, combined with increasing investments the company is making to improve customer offer and to build long term loyalty, this means that sales and trading profit in H1 2015 are somewhat below expectations.  Full Article

Tesco PLC announces appointment of Chief Financial Officer
Thursday, 10 Jul 2014 06:42am EDT 

Tesco PLC:Says Alan Stewart will join Board of Tesco as Chief Financial Officer.Philip Clarke will continue as Chief Executive until that date when he will step down from Board but will continue to be available to support transition until end of Jan. 2015.  Full Article

Tesco takes on UK banks with current account launch - Reuters
Tuesday, 10 Jun 2014 05:33am EDT 

Tesco Bank:Has launched its first personal current or checking account, looking to challenge established lenders and bring shoppers back into its parent's stores - Reuters.Tesco also hopes the service will help entice customers back into its supermarkets after suffering its worst three-monthly sales drop in 40 years.Account holders will be offered credits via Tesco's loyalty scheme Clubcard, which they can spend inside Tesco's 3,000 UK outlets.Tesco is offering interest of 3 percent on balances of up to 3,000 pounds.Customers depositing less than 750 pounds a month into the account will have to pay a 5 pound monthly fee.  Full Article

China Resources Enterprise Ltd announces completion of formation of joint venture with Tesco Plc
Wednesday, 28 May 2014 07:28pm EDT 

China Resources Enterprise Ltd:Refers to the announcement made on Oct. 02.Completion took place on May 28.The company and Tesco now holds 80 pct and 20 pct respective interests in the joint venture which in turn holds the retail business and the contributed business operations.  Full Article

Tesco PLC maintains final dividend
Wednesday, 16 Apr 2014 02:00am EDT 

Tesco PLC:Approves a maintained final dividend of 10.13 pence per share.Payment date July 04.Register date May 02.  Full Article

Tesco PLC confirms joint venture with TATA 's Trent Ltd in India
Friday, 21 Mar 2014 07:30am EDT 

Tesco PLC:Agreement with Trent Ltd, part of Tata Group.To form 50:50 joint venture in Trent Hypermarket Ltd (THL) which operates Star Bazaar retail business in India.Tesco's investment will be around 85 mln Pound.  Full Article

Britain's FTSE slips back, weighed down by oil stocks

* Tesco up on media report of bid interest for Asian assets

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