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News Article | May 9, 2017
Site: www.prnewswire.com

Another research by Global Market Insights indicates that strong R&D spending trends for synthetic biology to enable drug and vaccine development, including Europe NEST program will stimulate growth. Organizations including DBT (Department of Biotechnology) and NTBT (National Biotechnology Board) provides funding for promoting biotechnology market share. The U.S. biotechnology market size held a dominant position in terms of industry revenue share, with Europe following. This trend is likely to continue throughout the forecast period. The U.S. will further see increased adoption of products based on these platforms, as growth for personalized medicine becomes a preference. Quest PharmaTech Inc. (TSX-V: QPT) is a pharmaceutical company developing and commercializing products to improve the quality of life. Just this morning the company announced that its subsidiary, OncoQuest Inc. ("OncoQuest"), a biopharmaceutical company focused on the development and commercialization of immunotherapeutic products for the treatment of cancer has completed the enrollment of the first patient in a Phase 1/2 clinical study to evaluate the use of oregovomab in combination with Nivolumab, an anti-PD1 human monoclonal antibody which works as a checkpoint inhibitor in ovarian cancer patients in the recurrent setting. This clinical trial is being conducted at the National Cancer Centre in Singapore ("NCCS"), with Dr. Tira Tan as Principal Investigator, Adjunct Associate Professor John Chia from Oncocare Cancer Centre as the Study Chair, and Dr. Jack Chan as the co-chair. "We are extremely excited about launching this study," noted Dr. John Chia. "Ovarian cancer is a lethal disease, and this trial may offer new hope for our patients. Early clinical data suggests that oregovomab may improve the immune system's processing of cancer antigens, and enhance the immune ability to recognize these cancer targets. We believe that the combination of oregovomab and Nivolumab, which amplifies such immune activity, will have a synergistic effect to elicit a higher quality tumor immune response, and hence improve control of the cancer." This will be the first clinical trial testing the combination of oregovomab with a checkpoint inhibitor as potential treatment of ovarian cancer in the recurrent setting. "We continue to explore the potential of oregovomab in various stages of the progression of ovarian cancer," said Dr. Madiyalakan, CEO of Quest and OncoQuest. In frontline ovarian cancer, OncoQuest has recently announced positive interim results from its randomized controlled multi-center Phase 2 clinical trial with oregovomab as an indirect immunizer, in scheduled combination with carboplatin and paclitaxel. "In the recurrent setting, we are exploring the use of oregovomab with immune adjuvants in two clinical trials. The trial NCCS is conducting is in combination with a checkpoint inhibitor. We are also in the process of initiating a trial in U.S. in combination with a TLR3 agonist, Hiltonol®," continued Dr. Madiyalakan. Theratechnologies Inc. (OTC: THERF) is a specialty pharmaceutical company addressing unmet medical needs to promote healthy living and an improved quality of life among HIV patients. Recently, the company announced that its partner, TaiMed Biologics, Inc., has completed the submission of a Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for ibalizumab for the treatment of multidrug resistant Human Immunodeficiency Virus-1 (MDR HIV-1). If approved, ibalizumab will be the first antiretroviral treatment (ART) with a new mechanism of action to be introduced in nearly 10 years and the only treatment that does not require daily dosing. CRH Medical Corporation (NYSE: CRHM) is a North American company focused on providing gastroenterologists throughout the United States with innovative services and products for the treatment of gastrointestinal diseases. On March 15, 2017, the company announced that it has completed an accretive transaction whereby CRH has acquired a 60% interest in a gastroenterology ("GI") anesthesia practice in Kissimmee Florida ("Kissimmee"). CRH also announces that it has entered into an exclusive agreement to develop and manage a monitored anesthesia care ("MAC", or "Deep Sedation") program with Puget Sound Gastroenterology ("PSG"), located in Washington State. Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) a clinical stage biopharmaceutical company focused on the global immunology market, today announced additional 48-week results from its global Phase IIb AURA-LV (AURA) study in lupus nephritis (LN) during the National Kidney Foundation 2017 Spring Clinical Meetings in Orlando, FL. In addition to the trial meeting its complete and partial remission ("CR"/"PR") endpoints at 48 weeks, all pre-specified secondary endpoints that have been analyzed to date were also met at 48 weeks. These pre-specified endpoints include: time to CR and PR (speed of remission); reduction in Systemic Lupus Erythematosus Disease Activity Index or SLEDAI score; and reduction in urine protein creatinine ratio (UPCR) over the 48-week treatment period. The data were presented during the late-breaking session by lead author Dr. Samir Parikh, a clinical investigator for the study and Assistant Professor of Clinical Nephrology at the Ohio State University. Concordia International Corp. (NASDAQ: CXRX) together with its subsidiaries is an international specialty pharmaceutical company focused on generic and legacy pharmaceutical products and orphan drugs. On January 3rd, the company announced it has entered into a three-year, co-promotion agreement with RedHill Biopharma Ltd. through which the companies expect to expand sales of Donnatal®, Concordia's product used in the treatment of irritable bowel syndrome. Concordia's North America segment seeks to acquire and manage drugs that are in the maturity or legacy stage of the pharmaceutical product lifecycle and continue on a predictable revenue generation path. These products have a well-established record of safety and efficacy and a history of stable demand. Please Sign Up Now at http://www.FinancialBuzz.com to receive alerts on Trending Financial News from all these companies. "The Latest Buzz in Financial News" Subscribe Now! 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The Tender Offer will expire at 11:59 p.m., New York City time, on May 8, 2017, unless extended or earlier terminated (such time and date, as the same may be extended, the "Expiration Time"). Holders of Notes must validly tender and not validly withdraw their Notes before 11:59 p.m., New York City time, on May 8, 2017, to receive the Total Consideration. Notes validly tendered may be withdrawn at any time prior to the Expiration Time, but not thereafter. Payment of the Total Consideration to Holders of Notes that are accepted for purchase is expected to be made on May 11, 2017 (the "Settlement Date"). Holders who validly tender and do not validly withdraw their Notes and whose Notes are accepted for purchase in the Offer will also be paid on the Settlement Date accrued and unpaid interest from the last interest payment date up to, but excluding, the Settlement Date. The Tender Offer is subject to the satisfaction or waiver of certain conditions set forth in the Offer to Purchase. CRH America's obligation to accept any Notes tendered and to pay the Total Consideration are set forth solely in the Offer to Purchase, the Letter of Transmittal and the Notice of Guaranteed Delivery. CRH America may amend, extend or terminate the Offer at any time in its sole discretion, subject to applicable law. If CRH America takes any of these actions, a public announcement will be made thereof. CRH America has retained Citigroup, HSBC, NatWest Markets and Wells Fargo Securities to serve as dealer managers for the Tender Offer. D.F. King & Co., Inc. has been retained to serve as the information and tender agent. For additional information regarding the terms of the Tender Offer, please contact: Citigroup at +44 20 7986 8969 (Europe), (800) 558-3745 (toll free) or (212) 723-6106 (collect); HSBC at (888) HSBC-4LM (Toll Free), (212) 525-5552 (collect) or +44 (0) 20 7992 6237 (Europe); NatWest Markets at (203) 897-2963 (collect); or Wells Fargo Securities at (704) 410-4760 (collect) or (866)309-6316 (toll free).  Requests for documents may be directed to D.F. King & Co., Inc. at (866) 796-6869 (toll free), or (212) 269-5550 (collect for banks and brokers) or via email at crh@dfking.com. Capitalized terms used but not otherwise defined in this announcement have the meanings given to them in the Offer to Purchase. This news release is neither an offer to purchase nor a solicitation of an offer to sell Notes, nor is it a solicitation for acceptance of the Tender Offer. CRH America is making the Tender Offer only by, and pursuant to the terms of, the Offer to Purchase, the Letter of Transmittal and Notice of Guaranteed Delivery. The Tender Offer is not being made in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. None of CRH, its management, CRH America, Citigroup Global Markets Limited, HSBC Securities (USA) Inc., RBS Securities Inc. (marketing name "NatWest Markets") or Wells Fargo Securities or their affiliates, or D.F. King & Co., Inc. makes any recommendation as to whether holders should tender, or refrain from tendering, Notes in response to the Tender Offer. DISCLOSURE NOTICE: Some statements in this news release may constitute forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. A description of risks and uncertainties can be found in the Annual Report on Form 20-F of CRH and its other public filings and press releases. Except as required by law, neither CRH nor CRH America assumes any obligation to update any forward-looking statements contained in this news release as a result of new information or future events or developments. This communication of this announcement, the Offer to Purchase and any other documents or materials relating to the Tender Offer is not being made, and such documents and/or materials have not been approved, by an authorised person for the purposes of section 21 of the FSMA. Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials is exempt from the restriction on financial promotions under section 21 of the FSMA on the basis that it is only directed at and may be communicated to (1) those persons who are existing members or creditors of the Group or other persons within Article 43 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, and (2) any other persons to whom these documents and/or materials may lawfully be communicated. Neither this announcement, the Offer to Purchase nor any other documents or materials relating to the Tender Offer have been submitted to or will be submitted for approval or recognition to the Financial Services and Markets Authority (Autorité des services et marchés financiers / Autoriteit voor financiële diensten en markten) and, accordingly, the Tender Offer may not be made in Belgium by way of a public offering, as defined in Articles 3 and 6 of the Belgian Law of April 1, 2007 on public takeover bids as amended or replaced from time to time. Accordingly, the Tender Offer may not be advertised and the Tender Offer will not be extended, and neither this announcement nor any other documents or materials relating to the Tender Offer (including any memorandum, information circular, brochure or any similar documents) has been or shall be distributed or made available, directly or indirectly, to any person in Belgium other than "qualified investors" in the sense of Article 10 of the Belgian Law of June 16, 2006 on the public offer of placement instruments and the admission to trading of placement instruments on regulated markets, acting on their own account. This announcement has been issued only for the personal use of the above qualified investors and exclusively for the purpose of the Tender Offer. Accordingly, the information contained in this announcement may not be used for any other purpose or disclosed to any other person in Belgium. The Tender Offer is not being made, directly or indirectly, to the public in France. Neither this announcement, the Offer to Purchase nor any other documents or offering materials relating to the Tender Offer, has been or shall be distributed to the public in France and only (i) providers of investment services relating to portfolio management for the account of third parties (personnes fournissant le service d'investissement de gestion de portefeuille pour compte de tiers) and/or (ii) qualified investors (investisseurs qualifiés), other than individuals, acting for their own account, all as defined in, and in accordance with, Articles L.411-1, L.411-2 and D.411-1 to D.411-3 of the French Code monétaire et financier, are eligible to participate in the Offer. This announcement has not been and will not be submitted for clearance procedures (visa) of the Autorité des marchés financiers. None of the Tender Offer, this announcement, the Offer to Purchase or any other documents or materials relating to the Tender Offer has been or will be submitted to the clearance procedure of the Commissione Nazionale per le Società e la Borsa ("CONSOB"), pursuant to applicable Italian laws and regulations. The Tender Offer is being carried out in the Republic of Italy ("Italy") as an exempted offer pursuant to article 101-bis, paragraph 3-bis of the Legislative Decree No. 58 of February 24, 1998, as amended (the "Financial Services Act") and article 35-bis, paragraph 4 of CONSOB Regulation No. 11971 of May 14, 1999, as amended (the "CONSOB Regulation"). The Tender Offer is also being carried out in compliance with article 35-bis, paragraph 7 of the CONSOB Regulation. Holders or beneficial owners of the Notes located in Italy can tender the Notes through authorised persons (such as investment firms, banks or financial intermediaries permitted to conduct such activities in Italy in accordance with the Financial Services Act, CONSOB Regulation No. 16190 of October 29, 2007, as amended from time to time, and Legislative Decree No. 385 of September 1, 1993, as amended) and in compliance with applicable laws and regulations or with requirements imposed by CONSOB or any other Italian authority. Each intermediary must comply with the applicable laws and regulations concerning information duties vis-à-vis its clients in connection with the Notes or the Tender Offer. Neither this announcement, the Offer to Purchase nor any other materials relating to the Tender Offer constitute, nor may be used in connection with, an offer or solicitation in any place where offers or solicitations are not permitted by law. Any offer or solicitation in Canada must be made through a dealer that is appropriately registered under the laws of the applicable province or territory of Canada, or pursuant to an exemption from that requirement. The Tender Offer does not constitute an offer to buy or the solicitation of an offer to sell Notes in any circumstances in which such offer or solicitation is unlawful. In those jurisdictions where the securities or other laws require the Tender Offer to be made by a licensed broker or dealer and the Dealer Manager or, where the context so requires, any of its affiliates is such a licensed broker or dealer in that jurisdiction, the Tender Offer shall be deemed to be made on behalf of CRH America, Inc. by such Dealer Manager or affiliate (as the case may be) in such jurisdiction. The distribution of this announcement and the Offer to Purchase in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and the Offer to Purchase comes are required by each of CRH America, the Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/crh-announces-total-consideration-for-the-any-and-all-cash-tender-offer-by-crh-america-inc-300453524.html


CRH America expects to pay for all Notes validly tendered and accepted for purchase on May 11, 2017. Citigroup, HSBC, NatWest Markets and Wells Fargo Securities served as dealer managers for the Tender Offer, and D.F. King & Co., Inc. served as the information and tender agent. Capitalized terms used but not otherwise defined in this announcement have the meanings given to them in the Offer to Purchase. DISCLOSURE NOTICE:  Some statements in this news release may constitute forward-looking statements.  These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements.  A description of risks and uncertainties can be found in the Annual Report on Form 20-F of CRH and its other public filings and press releases.  Except as required by law, neither CRH nor CRH America assumes any obligation to update any forward-looking statements contained in this news release as a result of new information or future events or developments. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON RESIDENT AND/OR LOCATED IN, ANY JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION IS UNLAWFUL To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/crh-announces-expiration-of-the-any-and-all-cash-tender-offer-by-crh-america-inc-300454163.html


News Article | April 25, 2017
Site: www.marketwired.com

- Joint venture's fourteenth contract for high speed cars raises total number of cars delivered to China to over 3,000 - New generation of eco-friendly CRH series trains renowned for advanced design and exceptional passenger experience


VANCOUVER, April 26, 2017 /PRNewswire/ - CRH Medical Corporation (TSX: CRH) (NYSE MKT: CRHM) (the "Company"), announces that it is correcting the title to its press release issued earlier today announcing its first quarter financial results to read as follows: "CRH Medical Corporation Increases Total Revenue and Total Operating EBITDA by 63% Year-on-Year". The remaining information in the press release remains unchanged.


- Vierzehnter Auftrag für Hochgeschwindigkeitswagen erhöht die Anzahl der nach China gelieferten Wagen auf über 3.000- Die neue Generation umweltfreundlicher Züge der Baureihe CRH sind für fortschrittliches Design und außergewöhnlichen Fahrgastkomfort bekannt


News Article | April 24, 2017
Site: www.prnewswire.com

·         China's IGBT industry has developed rapidly under the guide of national policies and the market, and has shaped a complete industrial chain with IDM and OEM models. ·         Chinese IGBT supply market is mainly controlled by foreign companies, for example, all of the top five suppliers were foreign vendors who enjoyed the combined market share of 51.9% in 2015. ·         The advantages of European and American companies (such as Infineon, Semikron, Fairchild, etc.) are mainly reflected in power, electronics and communications. ·         Japanese brands (such as Mitsubishi, FUJI, Toshiba, etc.) target home appliances. ·         China seized 1/3 of the global IGBT market share in 2015 and will master nearly 1/2 by 2020, with the AAGR of about 19%. Subdivision of Applications: The current saturated Chinese home appliance market will see limited incremental space in the next five years. Among white household electrical appliances, inverter refrigerators with low permeability will generate the fastest growing demand for IGBT in the next five years. Affected by the government's development plan, China's wind power and PV industries may follow different development paths in the next five years. Here are some predictions: ·         By 2020, China's PV installed capacity will cumulate to above 160GW, which means the IGBT demand will value RMB1 billion or so. ·         Given the serious wind energy curtailment, China's total wind power installed capacity is planned to be 210GW by 2020, which indicates that China's additional wind power installed capacity will witness sharp drop in the next five years, so that the demand for IGBTs will shrink. ·         The major cities in China plan to invest RMB3.18 trillion in rail transit in 2010-2021. As for high-speed rail, China will own over 4,300 CRH trains by 2020, which will need 1.2 million IGBTs, four times that in 2015. By 2020, China's electric vehicle (including EV, PHEV, HEV, electric bus / truck) sales volume is expected to exceed 3 million, which will stimulate the IGBT demand to go beyond RMB6 billion. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/chinese-igbt-market-forecast-to-garner--rmb20-billion-by-2020-300444692.html


-- Theawardedwith a 2017 Pacesetter Award, ranking it as the fastest growing private healthcare company in Atlanta for the second year in a row and as the 6fastest growing private company in Atlanta. From 2014 to 2016, as reported by the Atlanta Business Chronicle, CRH grew revenues 409% and its employee count 458%.When Bill Miller and Andrea Malik Roe co-founded CRH Healthcare just over four years ago, they focused on developing a company built around the patient. Since then, they have opened or acquired 28 urgent care centers under their three core brands in three states: Peachtree Immediate Care (GA), Patients First (FL), and Urgent Medcare (AL). "Our acquisition of smaller operators allows us to more quickly build a network of patient-focused, technology-enabled urgent care centers built around what we call the 5Cs: Convenient, Courteous, Caring, Competent and Compliant," said CEO Bill Miller. "Caring for almost 300,000 patients a year is a big responsibility, and one we take very seriously. In addition to investing in state-of-the-art medical record systems and digital x-ray systems (that are more capable than film), we have recently implemented new services such as online check-in that allow our patients to see wait times at all of our locations and reduce their wait by checking in from home or on the go."CRH Healthcare continues to grow in its current markets while looking for new markets to enter where it can add value to the medical community with its convenient, patient-focused urgent care solution.For more information about CRH Healthcare, please visit http://www.crhhealthcare.com


News Article | April 26, 2017
Site: www.marketwired.com

CRH plc, the international building materials group, has issued the following Trading Update for the period 1 January 2017 to 31 March 2017 in advance of its Annual General Meeting which takes place tomorrow at 11.00am in Dublin. Like-for-like* Group sales for the first quarter of 2017 increased by 3% compared with the same period last year. In the Americas, despite less favourable weather conditions and very challenging prior year comparatives, the economic and business environment remained positive and, excluding the favourable impact of the strong US Dollar exchange rate this year, like-for-like sales were in line with 2016. In Europe, like-for-like sales growth of 6% was supported by stabilising trends in certain key markets and by the timing of Easter holidays which occurred in the first quarter of 2016. Activity in the Philippines had a slow start to the year with like-for-like sales 12% behind Q1 2016 impacted by poor weather and competitive market conditions. First Half Outlook In the Americas, with the benefit of a positive demand environment, EBITDA is expected to be ahead of last year (H1 2016: EUR 563 million) while we expect first half EBITDA in Europe to be broadly in line (H1 2016: EUR 499 million). EBITDA for Asia is expected to be behind due to competitive pricing conditions in the Philippines (H1 2016: EUR 58 million). Overall we expect total Group EBITDA for the seasonally less significant first half of the year to be ahead of last year (H1 2016: EUR 1.12 billion). Second Half Outlook Looking ahead to the second half of the year, in Europe we expect some modest improvement across our main markets. In the United States, residential construction, which has still not returned to long-term average levels, is expected to advance; non-residential activity is also expected to improve; for US infrastructure, we anticipate that the funding stability provided by the FAST Act will lead to a more positive trend for volumes in H2; as a result, we expect EBITDA improvements in the Americas in the second half of the year. In Asia, our expectation is that challenging market conditions in the Philippines will continue in H2. Against this backdrop and based on current momentum, we continue to expect to make further progress on a Group EBITDA basis in H2 2017. *Like-for-like movements exclude currency exchange effects and the impact of acquisitions and divestments The broad-based recovery evident in a number of key markets in 2016 has continued into the first quarter of 2017. This contributed to solid demand, albeit with mixed weather and competitive pricing in some regions. Like-for-like sales growth of 6% for the first quarter was supported by stabilising trends in certain key markets, and the fact that, unlike 2016, the Easter holiday did not impact on the first quarter of this year. In Europe Heavyside, despite mixed weather conditions, like-for-like sales were 8% ahead of 2016. Europe Lightside like-for-like sales for the first quarter were 5% ahead of 2016 as sales activity increased in the main Lightside markets in the UK, Germany, Netherlands and France. Against the backdrop of improving construction activity in the United States and broadly stable activity in our main Canadian markets, but with very challenging prior year comparatives, overall like-for-like sales for our Americas operations in the first quarter were in line with Q1 2016. Although less favourable weather conditions for our Americas Materials operations resulted in lower volumes of aggregates and readymixed concrete, positive pricing trends in both products were experienced compared with the first quarter of 2016. Asphalt volumes and construction revenues were ahead reflecting continued momentum. This markedly seasonal business typically sells less than 10% of annual asphalt volumes and less than 20% of aggregates and readymixed concrete volumes in the first quarter of the year. Like-for-like sales for the first quarter were 2% ahead of 2016. Americas Products experienced a backdrop of good demand but against an unseasonably warm 2016 which saw strong volumes in Q1, overall like-for-like sales were in line with Q1 2016. While Architectural Products shipments were behind 2016, like-for-like sales at our Precast business were ahead of the prior year. Our BuildingEnvelope® business was also ahead with improved sales from CRL reflecting volume growth due to stronger construction markets partly offset by lower project activity at the Engineered Products business. Americas Distribution sales decreased by 2% in the first quarter of the year as a result of more normal winter weather patterns compared with Q1 2016. Asia Update With a slow start to the year in our key regions in the Philippines, cement volumes declined in the first quarter impacted by unfavourable weather conditions. Like-for-like sales were 12% behind a challenging prior year comparative; markets remained highly competitive, with a negative impact on selling prices. CRH will report its Interim Results for the six months ending 30 June 2017 on 24 August 2017. Disclaimer In order to utilise the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995, CRH public limited company (the "Company"), and its subsidiaries (collectively, "CRH" or the "Group") is providing the following cautionary statement. This document contains certain forward-looking statements with respect to the financial condition, results of operations, business, viability and future performance of CRH and certain of the plans and objectives of CRH. These forward-looking statements may generally, but not always, be identified by the use of words such as "will", "anticipates", "should", "expects", "is expected to", "estimates", "believes", "intends" or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future and reflect the Company's current expectations and assumptions as to such future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, certain of which are beyond our control, as detailed in the section entitled "Risk Factors" in our 2016 Annual Report and on Form 20-F as filed with the US Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. These forward-looking statements are made as of the date of this document. The Company expressly disclaims any obligation to update these forward-looking statements other than as required by law. _____________________________________________________________________________________ CRH plc will host an analysts' conference call at 08:30 BST on Wednesday, 26 April 2017 to discuss the Trading Update. To join this call please dial: +353 (0)1 2460271 using Conference Code 8549636#, User PIN *0 (further international numbers are available here). A recording of the conference call will be available on the Reports and Presentations page of the CRH website. _____________________________________________________________________________________ This information is provided by RNS The company news service from the London Stock Exchange


News Article | May 3, 2017
Site: www.businesswire.com

MCLEAN, Va.--(BUSINESS WIRE)--TEGNA Inc. (NYSE: TGNA) today announced that its Board of Directors has approved the previously announced spin-off of Cars.com, which will create two publicly traded companies: TEGNA, an innovative media company with the largest broadcast group among major network affiliates in the top 25 markets; and Cars.com, a leading digital automotive marketplace. The spin-off will be effected through a pro rata distribution of all outstanding shares of Cars.com to TEGNA stockholders of record at the close of business on May 18, 2017 (the “Record Date”). Stockholders will retain their TEGNA shares and receive one share of Cars.com for every three shares of TEGNA stock they own on the Record Date. Cars.com shares are expected to begin “regular way” trading on June 1, 2017. The spin-off remains subject to the conditions described in the preliminary information statement filed by Cars.com on Form 10 with the U.S. Securities and Exchange Commission. Gracia Martore, President and CEO of TEGNA, who will retire upon the closing of the spin-off, said, “Today’s milestone brings us one step closer to creating two industry-leading companies with the right focus, resources and leadership to capture the unique opportunities in each of their rapidly evolving industries. This spin-off is the culmination of a multi-year transformation of our company, and the Board is confident that both companies are well positioned to execute their strategic plans for growth and create shareholder value.” Dave Lougee, who will serve as President and CEO of TEGNA upon completion of the separation, added, “I am honored to lead TEGNA into the future at such a pivotal time for our company. With our strong capital structure, we are well-positioned to take advantage of current and future regulatory changes. We will continue TEGNA’s history of serving our local communities by creating and distributing innovative and compelling content across a wide range of platforms and by providing our clients marketing tools and services to enable them to succeed in the digital age.” Alex Vetter, who will serve as President and CEO of Cars.com upon completion of the separation, said, “We are approaching a watershed moment for Cars.com and I couldn’t be more excited about our future. As an independent company, we have greater flexibility to capture the opportunities ahead of us by leveraging our strong brand, innovative platform and expanding, loyal audience. We are a pure-play digital company in an excellent position to drive long-term growth and profitability, and we are a unique investment opportunity in the digital automotive space.” Upon completion of the separation, TEGNA will continue to trade on the New York Stock Exchange under the ticker symbol TGNA and Cars.com will trade regular way on the New York Stock Exchange under the symbol CARS. Holders of TEGNA common stock who sell TEGNA shares regular way on or before May 31, 2017 will also be selling their right to receive shares of Cars.com common stock in the distribution. Investors are encouraged to consult with their financial advisors regarding the specific implications of buying or selling TEGNA common stock before the distribution date. John A. (Jack) Williams, President of TEGNA Digital, will retire upon the closing of the spin-off. Ms. Martore added, “Jack joined the company 22 years ago and has been instrumental in leading our Digital portfolio since 2008. I want to thank Jack for all that he has done for this company and wish him well in his retirement.” Prior to the separation, Cars.com will make a one-time cash distribution of $650 million to TEGNA. Cars.com expects to enter into new credit facilities with borrowing capacity of approximately $900 million and expects a portion of the facilities will remain undrawn at closing. It intends to invest in organic growth initiatives and selective acquisitions to create shareholder value and does not anticipate paying a cash dividend. It is expected that TEGNA's existing credit facility will remain in place following the transaction, and the company expects to target long-term leverage levels in line with its peers. The company intends to use the $650 million tax free distribution from Cars.com and cash flow from operations to reduce leverage and, to that end, will extinguish its current share repurchase program, with plans to reassess in the future. TEGNA expects to pay a regular cash dividend of $0.28 per share annually. The company intends to continue investing in organic and strategic growth opportunities and also intends to maintain the financial flexibility to pursue strategic acquisitions when appropriate. Current TEGNA Board Chairman Marjorie Magner will continue to serve as chairman of TEGNA’s Board of Directors following the separation and will be joined by Dave Lougee, who will be TEGNA’s president and CEO following the separation. TEGNA’s Board of Directors will also include current TEGNA directors Jennifer Dulski, Howard D. Elias, Lidia Fonseca, Scott K. McCune, Henry W. McGee, Susan Ness, Bruce P. Nolop and Neal Shapiro. Scott Forbes will serve as chairman of the Cars.com Board of Directors following the separation. The Cars.com Board of Directors will also include Alex Vetter, Cars.com President and CEO, and current TEGNA director Jill Greenthal. In addition, upon completion of the separation, Thomas Hale, Donald McGovern and Greg Revelle are expected to serve on the Cars.com Board of Directors. Ms. Greenthal will resign from the TEGNA Board concurrently with the completion of the spin-off. Scott Forbes, an experienced non-executive director, currently serves as Chairman of two LSE-listed companies: Rightmove, the UK’s number one online real estate company, and Ascential, an international business to business media company. Scott is a member of the Board of Directors of Travelport Limited and was previously Chairman of Orbitz Worldwide until its sale to Expedia in September 2015. Scott has over 35 years of experience in operations, finance and mergers and acquisitions, including 15 years at Cendant, which was formerly a leading provider of travel and real estate services. He established Cendant’s international headquarters in London in 1999 and led this division as Group Managing Director until he joined Rightmove in 2005. T. Alex Vetter will serve as the President and Chief Executive Officer of Cars.com. Alex has served as President and Chief Executive Officer of Cars.com, LLC since 2014. As one of the original members of Cars.com management, Alex has helped shape the company from its initial concept into a leading digital automotive marketplace, steering the organization’s growth strategy while serving in a variety of executive roles spanning product development, customer service, training, operations and sales, since the launch of Cars.com in 1998. From 2006 until his elevation to President and Chief Executive Officer in 2014, Alex served in a variety of senior management roles for Cars.com LLC, from Senior Vice President, Sales to Executive Vice President and Chief Operating Officer. Alex is an active technology investor and advisor, helping entrepreneurs and companies transition from seed or growth stage with scale. He currently serves as a member of the Board of Directors of RepairPal, and is on the advisory boards of several technology ventures, including Shotfarm and Earshot. Jill Greenthal has been a Senior Advisor in the Private Equity Group of The Blackstone Group, a global asset management firm. She previously was a Senior Managing Director in Blackstone’s Advisory Group. Prior to joining Blackstone, Jill was Co-Head of the Global Media Investment Banking Group, a Member of the Executive Board of Investment Banking, and Co-Head of the Boston office of Credit Suisse First Boston, an Investment Bank. Jill currently serves on the Board of Directors of TEGNA (from which she will resign when she joins the Board of Directors of Cars.com), Akamai Technologies, Houghton Mifflin Harcourt, and The Weather Channel. She previously served as a director of Michaels Stores and Orbitz Worldwide. Tom Hale is President of SurveyMonkey, the world’s largest online survey company. Before joining SurveyMonkey, he was Chief Operating Officer of HomeAway, an internet marketplace for vacation rentals. Prior to HomeAway, Tom served as Linden Lab’s Chief Product Officer, where he redesigned the consumer experience of Second Life. During his twelve years at Macromedia and Adobe, he held several executive roles in general management, product management, and marketing, most notably building out each company’s developer and knowledge worker strategies. Following the acquisition of Macromedia by Adobe, he was responsible for the Acrobat family of products, including the revamped user experience for Acrobat and integration of the real-time collaboration tool Adobe Connect. Tom was previously a member of the Board of Directors of ReachLocal, a public business to business digital marketing services firm and of Intralinks, a public global technology provider of enterprise content management solutions. Donald A. McGovern, Jr. has more than 40 years of financial and accounting experience, retiring from PricewaterhouseCoopers (PwC) in June 2013, following a 39-year career with the firm. During his time at PwC, he was Vice Chairman, Global Assurance, directed the US firm's services for several large public company clients and was involved in over 30 Silicon Valley IPOs. He also held various other leadership roles in PwC and was, from July 2001 to June 2008, a member of, and past lead director for, the Board of Partners and Principals of the U.S. firm, as well as a member of PwC’s Global Board. Don currently serves as Senior Independent Director and Chair of the Remuneration Committee on the Board of Directors of CRH, and a Director and Chair of the Audit Committee of two private companies, Neuraltus Pharmaceuticals and eASIC Corporation. He is a member of the American Institute of Certified Public Accountants. Greg Revelle is the Chief Marketing Officer for Kohl’s, responsible for the marketing organization and overall marketing strategy, including the company’s focus on driving customer engagement through analytics, enhancing the loyalty platform, accelerating customer traffic and continuing to build Kohl’s overall brand position. Prior to joining Kohl’s, Greg was the Chief Marketing Officer at Best Buy, responsible for marketing, customer strategy, brand positioning and execution across all channels and customer touch points. He led efforts to redefine Best Buy’s brand positioning and customer strategy, championed a shift to digital and personalized customer communications, developed sophisticated analytics capabilities and drove significant growth in the company’s loyalty program. Prior to Best Buy, Greg served as Chief Marketing Officer at AutoNation. Before that, he was Vice President of worldwide online marketing at Expedia and an investment banker at Credit Suisse. Greenhill & Co. is acting as financial advisor on the separation transaction and Wachtell, Lipton, Rosen & Katz is acting as legal advisor. Any statements contained in this communication that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, including statements with respect to the potential distribution of TEGNA’s digital automotive marketplace business to its stockholders and the expected financial results of the two companies after the separation. Any forward-looking statements contained herein are based on our management’s current beliefs and expectations, but are subject to a number of risks, uncertainties and changes in circumstances, which may cause actual results or company actions to differ materially from what is expressed or implied by these statements. Such risks include, but are not limited to: uncertainties as to the timing of the spin-off or whether it will be completed, the possibility that various closing conditions for the spin-off may not be satisfied or may be waived, the expected tax treatment of the spin-off, the impact of the spin-off on the businesses of TEGNA or Cars.com and the availability and terms of financing. Economic, competitive, governmental, technological and other factors and risks that may affect TEGNA’s operations or financial results are discussed in TEGNA’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016, and in subsequent filings with the U.S. Securities and Exchange Commission. TEGNA disclaims any obligation to update these forward-looking statements other than as required by law. TEGNA Inc. (NYSE: TGNA) is comprised of a dynamic portfolio of media and digital businesses that provide content that matters and brands that deliver. TEGNA offers highly relevant, useful and smart content, when and how people need it, to make the best decisions possible. TEGNA Media includes 46 television stations and is the largest independent station group of major network affiliates in the top 25 markets, reaching approximately one-third of all television households nationwide. TEGNA Digital is comprised of Cars.com, the leading online destination for automotive consumers, CareerBuilder, a global leader in human capital solutions, and G/O Digital, a customized local digital marketing company. For more information, visit www.TEGNA.com. Cars.com is a leading online destination that helps car shoppers and owners navigate every turn of car ownership. A pioneer in automotive classifieds, the company has evolved into one of the largest digital automotive platforms, connecting consumers with local dealers across the country anytime, anywhere. Through trusted expert content, on-the-lot mobile app features, millions of new and used vehicle listings, a comprehensive set of research tools and the largest database of consumer reviews in the industry, Cars.com helps shoppers buy, sell and service their vehicles. Cars.com companies include DealerRater®, Auto.com, PickupTrucks.com™ and NewCars.com®. The company was founded in 1998 and is headquartered in Chicago. For more information, visit www.Cars.com.

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