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News Article | February 15, 2017
Site: www.businesswire.com

BEIJING--(BUSINESS WIRE)--cippe 2017 (the 17th China International Petroleum & Petrochemical Technology and Equipment Exhibition) will be held on March 20-22, 2017 at New China International Exhibition Center in Beijing. With an exhibition area of 100,000m2, the event will gather around 2,000 exhibitors from 65 countries and regions, including 50 Fortune Global 500 companies and 18 international pavilions, to display the latest cutting-edge petrochemical and equipment technologies and products. cippe is an approved member of the Global Association of the Exhibition Industry (UFI) and enjoys the support of China’s Ministry of Commerce. This year as the petroleum industry is setting to revive, cippe will present a more professional, valuable and wonderful event for the industry players. In 2017, apart from the existing Oil Exploration & Development, Offshore Oil & Gas, Offshore Engineering, Oil & Gas Pipeline, Shale Gas, Natural Gas and Explosion-proof Equipment zones, the event will add professional exhibition zones for more market segments, including Valves, Fire Control, Oilfield & Land Conservation, in a bid to build a more precise and professional matching platform for buyers. So far, companies that have confirmed to attend include Caterpillar, NOV, Schlumberger, GE, Honeywell, DOW Chemical, Rockwell, Transneft, Rosneft, Akzo, API, 3M, E+H, MTU, Hempel, CNPC, Sinopec, CNOOC, CSSC, CSIC, CASC, Jereh, Kerui, RG Petro-Machinery, Sany Heavy Industry, Northern Heavy Industries Group, CITIC Pacific, HBP, Jerrywon, LandOcean Energy, Anton Oilfield, Shanghai Shenkai, Tiehu Petromachinery, Tidfore, CNOOC, DS Group and Warom Technology. Building professional forums to help insiders look into the future cippe 2017 will continue to hold the 9th International Petroleum Summit highlighting low-cost development, which will analyze industry prospects and policies to come up with feasible practices and technologies. Multiple other technology seminars and symposiums will be held concurrently. During cippe 2017, the organizer Zhenwei Expo will partner with Xi'an Shiyou University and Shanxi Petroleum Society to hold the 2017 International Petroleum & Petrochemical Technology Conference, covering the full industry chain including offshore petroleum exploration, drilling and producing engineering, oil & gas storage and transportation, etc. Besides, cippe will launch the Middle East session by cooperating with Petroleum Association of Middle East (PAME) and Business Gateways International. LLC., (BGI) of Oman. While BGI Oman will introduce in details about its Joint Supplier Registration System (JSRS) to facilitate Chinese petroleum companies to enter Omanis market, PAME will elaborate on the opportunities, challenges and strategies in the Middle Eastern market. cippe 2017 will attract over 100 buyer and visitor delegations comprised of government institutions, industry associations and companies. Rosneft, Gazprom, Transneft, Saudi Aramco, Statoil, NIOC, INOC, Qatargas, Saudi Aramco, Emirates National Oil, Petronas, KNPC, PDVSA, EVOLEN, PAME, DNV, and other industry associations from the Netherlands, India and France.


SAN DIEGO, Feb. 22, 2017 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in Utah for certain purchasers of shares of USANA Health Sciences, Inc. (NYSE:USNA) over alleged Securities Laws Violations by USANA Health Sciences, Inc. Investors, who purchased shares of USANA Health Sciences, Inc. (NYSE:USNA) in March 2014 or earlier and currently hold any of those NYSE: USNA shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. On August 16, 2010, USANA Health Sciences, Inc. announced that it had acquired BabyCare Ltd., a China-based manufacturing company that develops and sells nutritional products primarily for infants. Over the next six years, USANA Health Sciences, Inc. steadily expanded BabyCare Ltd.’s market presence in China. In February 2013, the Company announced that it had received official government approval from the Ministry of Commerce People’s Republic of China for direct selling activities in the provinces of Jiangsu and Shaanxi, and the municipality of Tianjin. In May 2016, USANA Health Sciences, Inc. announced Ministry of Commerce People’s Republic of China approval for direct selling activities in the provinces of Liaoning, Shandong, Shanxi, Sichuan, and Guangdong, as well as the municipalities of Dalian, Qingdao, and Shenzhen. The plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that the Company’s BabyCare subsidiary had engaged in improper reimbursement practices in China, that these practices constituted violations of the Foreign Corrupt Practices Act (“FCPA”), that as such, the Company’s China revenues were in part the product of unlawful conduct and unlikely to be sustainable, that the foregoing conduct, when it became known, was likely to subject the Company to significant regulatory scrutiny, and that as a result of the foregoing, USANA Health Sciences’ public statements were materially false and misleading at all relevant times. On February 7, 2017, USANA Health Sciences, Inc. disclosed that "[t]he Company is voluntarily conducting an internal investigation of its China operations, BabyCare Ltd. . . . focus[ing] on the compliance with the Foreign Corrupt Practices Act . . . and certain conduct and policies at BabyCare, including BabyCare's expense reimbursement policies." Those who purchased shares of USANA Health Sciences, Inc. (NYSE:USNA) in March 2014 or earlier and currently hold any of those NYSE: USNA shares should contact the Shareholders Foundation, Inc. The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.


SAN DIEGO, Feb. 22, 2017 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in Utah for certain purchasers of shares of USANA Health Sciences, Inc. (NYSE:USNA) over alleged Securities Laws Violations by USANA Health Sciences, Inc. Investors, who purchased shares of USANA Health Sciences, Inc. (NYSE:USNA) in March 2014 or earlier and currently hold any of those NYSE: USNA shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. On August 16, 2010, USANA Health Sciences, Inc. announced that it had acquired BabyCare Ltd., a China-based manufacturing company that develops and sells nutritional products primarily for infants. Over the next six years, USANA Health Sciences, Inc. steadily expanded BabyCare Ltd.’s market presence in China. In February 2013, the Company announced that it had received official government approval from the Ministry of Commerce People’s Republic of China for direct selling activities in the provinces of Jiangsu and Shaanxi, and the municipality of Tianjin. In May 2016, USANA Health Sciences, Inc. announced Ministry of Commerce People’s Republic of China approval for direct selling activities in the provinces of Liaoning, Shandong, Shanxi, Sichuan, and Guangdong, as well as the municipalities of Dalian, Qingdao, and Shenzhen. The plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that the Company’s BabyCare subsidiary had engaged in improper reimbursement practices in China, that these practices constituted violations of the Foreign Corrupt Practices Act (“FCPA”), that as such, the Company’s China revenues were in part the product of unlawful conduct and unlikely to be sustainable, that the foregoing conduct, when it became known, was likely to subject the Company to significant regulatory scrutiny, and that as a result of the foregoing, USANA Health Sciences’ public statements were materially false and misleading at all relevant times. On February 7, 2017, USANA Health Sciences, Inc. disclosed that "[t]he Company is voluntarily conducting an internal investigation of its China operations, BabyCare Ltd. . . . focus[ing] on the compliance with the Foreign Corrupt Practices Act . . . and certain conduct and policies at BabyCare, including BabyCare's expense reimbursement policies." Those who purchased shares of USANA Health Sciences, Inc. (NYSE:USNA) in March 2014 or earlier and currently hold any of those NYSE: USNA shares should contact the Shareholders Foundation, Inc. The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.


SAN DIEGO, Feb. 22, 2017 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in Utah for certain purchasers of shares of USANA Health Sciences, Inc. (NYSE:USNA) over alleged Securities Laws Violations by USANA Health Sciences, Inc. Investors, who purchased shares of USANA Health Sciences, Inc. (NYSE:USNA) in March 2014 or earlier and currently hold any of those NYSE: USNA shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. On August 16, 2010, USANA Health Sciences, Inc. announced that it had acquired BabyCare Ltd., a China-based manufacturing company that develops and sells nutritional products primarily for infants. Over the next six years, USANA Health Sciences, Inc. steadily expanded BabyCare Ltd.’s market presence in China. In February 2013, the Company announced that it had received official government approval from the Ministry of Commerce People’s Republic of China for direct selling activities in the provinces of Jiangsu and Shaanxi, and the municipality of Tianjin. In May 2016, USANA Health Sciences, Inc. announced Ministry of Commerce People’s Republic of China approval for direct selling activities in the provinces of Liaoning, Shandong, Shanxi, Sichuan, and Guangdong, as well as the municipalities of Dalian, Qingdao, and Shenzhen. The plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that the Company’s BabyCare subsidiary had engaged in improper reimbursement practices in China, that these practices constituted violations of the Foreign Corrupt Practices Act (“FCPA”), that as such, the Company’s China revenues were in part the product of unlawful conduct and unlikely to be sustainable, that the foregoing conduct, when it became known, was likely to subject the Company to significant regulatory scrutiny, and that as a result of the foregoing, USANA Health Sciences’ public statements were materially false and misleading at all relevant times. On February 7, 2017, USANA Health Sciences, Inc. disclosed that "[t]he Company is voluntarily conducting an internal investigation of its China operations, BabyCare Ltd. . . . focus[ing] on the compliance with the Foreign Corrupt Practices Act . . . and certain conduct and policies at BabyCare, including BabyCare's expense reimbursement policies." Those who purchased shares of USANA Health Sciences, Inc. (NYSE:USNA) in March 2014 or earlier and currently hold any of those NYSE: USNA shares should contact the Shareholders Foundation, Inc. The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.


News Article | February 23, 2017
Site: en.prnasia.com

SHANGHAI, Feb. 23, 2017 /PRNewswire/ -- CNH Industrial (NYSE: CNHI / MI: CNHI) was invited to participate in the fourth edition of the China-Italy Business Forum held yesterday, February 22, at the Great Hall of the People in Beijing, China. This year's Forum saw the presence Sergio Mattarella, the President of Italy, who made an address. Also in attendance were many high-ranking officials from both countries, including the Italian Undersecretary of Economic Development Ivan Scalfarotto and his Chinese Counterpart, Zhou Xiaoyan General Director of MOFCOM, Ministry of Commerce of the People's Republic of China." Established in January 2014, this year's Forum served as an opportunity for a number of meetings between companies from both countries to discuss potential opportunities in various markets, from infrastructure, agriculture, green technology to sustainable urban development. As a major industrial player in both markets, and newly appointed member of the Forum's Executive Council, CNH Industrial, represented by Michele Lombardi, Head of Iveco for Asia Pacific & President of Iveco China, took the opportunity to discuss the importance of the growing relationship between CNH Industrial and China which is playing an increasingly important role, with great market potential. CNH Industrial was one of the first foreign manufacturing companies to enter China, with its Case IH and Iveco Brands, and this country has always been an important part of the Company's global strategy. Case IH entered the market at the beginning of the last century when the first tractors were imported to China, and Iveco was the first foreign commercial vehicle manufacturer to enter the Chinese market in the 1980s. CNH Industrial continues to develop its presence and expertise in China through projects focusing on innovative technology and reinforcing its market leading positions in the agricultural sector with its Case IH and New Holland Agriculture brands and in the construction sector with Case Construction Equipment. This is coupled with its pioneering global role as sustainable transport provider with Iveco commercial vehicles and FPT Industrial fuel-efficient engines, including a wide range of natural gas powered solutions. The Company remains committed to its contributions to China's economy through the further development of its joint ventures and increase in productivity at its manufacturing plants. The Company aims to transport its success and sustainability into the Chinese market through a number of projects including localization of investments in the development of advanced equipment, the promotion of alternative fuels and the development of sustainable mobility. CNH Industrial is present in China with its Case IH, Case Construction Equipment, New Holland Agriculture, Iveco and FPT Industrial brands across seven plants, six R&D centers, including joint ventures, and some 11,000 employees. CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com


News Article | February 23, 2017
Site: www.prnewswire.co.uk

SHANGHAI, Feb. 23, 2017 /PRNewswire/ -- CNH Industrial (NYSE: CNHI / MI: CNHI) was invited to participate in the fourth edition of the China-Italy Business Forum held yesterday, February 22, at the Great Hall of the People in Beijing, China. This year's Forum saw the presence of Xi Jinping, President of the People's Republic of China, and Sergio Mattarella, the President of Italy, who both made addresses. Also in attendance were many high-ranking officials from both countries, including the Italian Undersecretary of Economic Development Ivan Scalfarotto and his Chinese Counterpart, Zhou Xiaoyan General Director of MOFCOM, Ministry of Commerce of the People's Republic of China. Established in January 2014, this year's Forum served as an opportunity for a number of meetings between companies from both countries to discuss potential opportunities in various markets, from infrastructure, agriculture, green technology to sustainable urban development. As a major industrial player in both markets, and newly appointed member of the Forum's Executive Council, CNH Industrial, represented by Michele Lombardi, Head of Iveco for Asia Pacific & President of Iveco China, took the opportunity to discuss the importance of the growing relationship between CNH Industrial and China which is playing an increasingly important role, with great market potential. CNH Industrial was one of the first foreign manufacturing companies to enter China, with its Case IH and Iveco Brands, and this country has always been an important part of the Company's global strategy. Case IH entered the market at the beginning of the last century when the first tractors were imported to China, and Iveco was the first foreign commercial vehicle manufacturer to enter the Chinese market in the 1980s. CNH Industrial continues to develop its presence and expertise in China through projects focusing on innovative technology and reinforcing its market leading positions in the agricultural sector with its Case IH and New Holland Agriculture brands and in the construction sector with Case Construction Equipment. This is coupled with its pioneering global role as sustainable transport provider with Iveco commercial vehicles and FPT Industrial fuel-efficient engines, including a wide range of natural gas powered solutions. The Company remains committed to its contributions to China's economy through the further development of its joint ventures and increase in productivity at its manufacturing plants. The Company aims to transport its success and sustainability into the Chinese market through a number of projects including localization of investments in the development of advanced equipment, the promotion of alternative fuels and the development of sustainable mobility. CNH Industrial is present in China with its Case IH, Case Construction Equipment, New Holland Agriculture, Iveco and FPT Industrial brands across seven plants, six R&D centers, including joint ventures, and some 11,000 employees. CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com


News Article | February 27, 2017
Site: globenewswire.com

SHANGHAI, China, Feb. 27, 2017 (GLOBE NEWSWIRE) -- China Lodging Group, Limited (NASDAQ:HTHT) (“China Lodging” or the “Company”), a leading hotel chain operator in China, today announced that its wholly-owned subsidiary China Lodging Holdings (HK) Limited has entered into a definitive share purchase agreement with the shareholders of Crystal Orange Hotel Holdings Limited (“Crystal Orange”) to acquire all of the equity interests of Crystal Orange for an initial aggregate consideration in cash of approximately RMB 3.65 billion, with customary post-closing adjustments (the “Transaction”). The closing of the Transaction is subject to the approval from the Antitrust Bureau of Ministry of Commerce of China. China Lodging's management will communicate more details on the Q4 and full year earnings call at 9 p.m. ET, Tuesday, March 14, 2017 (or 9 a.m. on Wednesday, March 15, 2017 in the Shanghai/Hong Kong time zone). To participate in the event by telephone, please dial +1 (855) 500 8701 (for callers in the US), +86 400 120 0654 (for callers in China Mainland), +852 3018 6776 (for callers in Hong Kong) or +65 6713 5440 (for callers outside of the US, China Mainland, and Hong Kong) and enter pass code 7256 4976.  Please dial in approximately 10 minutes before the scheduled time of the call. About China Lodging Group, Limited China Lodging Group, Limited is a leading hotel operator and franchisor in China under 12 brand names. As of December 31, 2016, the Company had 3,269 hotels or 331,347 rooms in operation in 367 cities. With a primary focus on economy and midscale hotel segments, China Lodging Group's brands include Hi Inn, HanTing Hotel, Elan Hotel, JI Hotel, Starway Hotel, Joya Hotel, and Manxin Hotels & Resorts. The Company also has the rights as master franchisee for Mercure, Ibis and Ibis Styles, and co-development rights for Grand Mercure and Novotel, in Pan-China region. For more information, please visit the Company's website: http://ir.huazhu.com. About Crystal Orange Crystal Orange is a leading boutique hotel operator in China founded in 2006, headquartered in Beijing, with more than 100 hotels located primarily in tier 1 and tier 2 cities. Crystal’s three flagship brands address different segments of the market, namely “Crystal Orange Hotel”, “Orange Hotel Select” and “Orange Hotel”. For more information about Crystal Orange, please visit its website: http://www.orangehotel.com.cn Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: The information in this release contains forward-looking statements which involve risks and uncertainties. Such factors and risks include our anticipated growth strategies; our future results of operations and financial condition; the economic conditions of China; the regulatory environment in China; our ability to attract customers and leverage our brand; trends and competition in the lodging industry; the expected growth of the lodging market in China; and other factors and risks detailed in our filings with the Securities and Exchange Commission. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements, which may be identified by terminology such as “may,” “should,” “will,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “forecast,” “project,” or “continue,” the negative of such terms or other comparable terminology. Readers should not rely on forward-looking statements as predictions of future events or results. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.


Den 27 april 2016 offentliggjorde HNA Tourism Group Co, Ltd. ("HNA Tourism Group") och Carlson Hospitality Group, Inc. ("Carlson Hospitality Group") att de ingått ett avtal gällande HNA Tourism Groups förvärv ("Förvärvet") av Carlson Hotels, Inc. ("Carlson Hotels"). I Förvärvet ingick 87 522 187 aktier i Rezidor som ägdes av Carlson Hotels, motsvarande 51,3% av utestående aktier och röster i Rezidor. Förvärvet fullbordades den 7 december 2016, vilket därmed medförde en skyldighet för HNA Tourism Group att lämna ett budpliktsbud avseende resterande utestående aktier i Rezidor. "För att finansiera budpliktsbudet, vilket för HNA utgör en utlandstransaktion, samt för att föra ut pengarna från Kina, krävs myndighetstillstånd från National Development and Reform Commission of the People's Republic of China ("NDRC") och Ministry of Commerce of the People's Republic of China ("MOFCOM"). Vidare måste HNA hos State Administration of Foreign Exchange ("SAFE") registrera det belopp som ska föras ut.


This press release has been published in English and Swedish. In the event of any discrepancy in content between the two language versions, the English version shall prevail. The Board of Rezidor recommends the shareholders to accept HNA Tourism Group's mandatory offer of SEK 34.86 per share This statement is made by the Board of Directors (the "Board") of Rezidor Hotel Group AB (publ) ("Rezidor") pursuant to section II.19 of Nasdaq Stockholm's Takeover Rules (the "Takeover Rules"). On April 27, 2016, HNA Tourism Group Co., Ltd. ("HNA Tourism Group") and Carlson Hospitality Group, Inc. ("Carlson Hospitality Group") announced that they had entered into an agreement regarding HNA Tourism Group's acquisition (the "Acquisition") of Carlson Hotels, Inc. ("Carlson Hotels"). The Acquisition included 87,552,187 shares in Rezidor owned by Carlson Hotels, corresponding to 51.3% of the outstanding shares and votes in Rezidor. The Acquisition was completed on December 7, 2016, and triggered an obligation for HNA Tourism Group to make a mandatory tender offer for the outstanding shares in Rezidor. On December 22, 2016, HNA Tourism Group, through its wholly-owned subsidiary HNA Sweden Hospitality Management AB ("HNA Sweden"), announced a mandatory cash tender offer to the shareholders of Rezidor to acquire all outstanding shares in Rezidor (the "Offer"). HNA Sweden offers SEK 34.86 in cash per share in Rezidor, subject to adjustment should Rezidor pay any dividend or make any other value transfer to shareholders prior to settlement of the Offer.[2] The offer price is 6.3% below the closing price of the Rezidor share on Nasdaq Stockholm of SEK 37.20 on December 22, 2016, being the last trading day prior to the announcement of the Offer. The offered price corresponds to the volume-weighted average price for the Rezidor share during 20 trading days preceding the date of announcement of entering into the agreement regarding the Acquisition. According to HNA Tourism Group's announcement of the Offer, the offer price is the minimum price to be paid in the Offer in accordance with rulings received from the Swedish Securities Council (see rulings AMN 2016:10 and AMN 2016:27). Completion of the Offer is conditional upon the Offer, the settlement of the Offer and the acquisition of Rezidor receiving all necessary regulatory, governmental or similar clearances, approvals and decisions in each case, on terms that are acceptable to HNA Sweden. For more information about the Offer, see http://www.hnagroup.com/en/discl/HNA_Website2017/legal.html. In accordance with the provisions of the Takeover Rules, the Board has evaluated the Offer. The Board has engaged SEB Corporate Finance as financial advisor and Gernandt & Danielsson Advokatbyrå as legal advisor in relation to the Offer. The Board has further appointed DNB Markets to provide a fairness opinion in relation to the Offer. The Board unanimously recommends the shareholders to accept the Offer. The Offer does not reflect the value of Rezidor from a financial perspective. The recommendation is based on various assumptions and conclusions made by the Board, including: The position of the Board is supported by the fairness opinion provided by DNB Markets. The opinion, which is set forth in the appendix to this press release, concludes that the Offer is not fair from a financial point of view. Additional considerations and risks for the shareholders to consider before taking a decision whether or not to accept Despite unanimously recommending the shareholders not to accept the Offer, the Board is of the opinion that the uncertainties have increased following HNA Tourism Group's acquisition of the majority of the shares in Rezidor, including: The Board would also like to draw the shareholders' attention to the following features of the Offer: As regards the regulatory approval process, including the approvals that constitute a condition for the Offer, the Board notes the following statements made by HNA Tourism Group and the Swedish Securities Council in connection with the Swedish Securities Council ruling AMN 2016:27:[4] "In order to finance the mandatory tender offer, which constitutes a foreign transaction for HNA Tourism Group, and to transfer the funds out from China to be used for the settlement of the Offer, approvals from the National Development and Reform Commission of the People's Republic of China ("NDRC") and the Ministry of Commerce of the People's Republic of China ("MOFCOM") are required. In addition, the State Administration of Foreign Exchange ("SAFE") must register the amount to be transferred. HNA Tourism Group intends to apply for approvals both from NDRC and MOFCOM before the completion of the Acquisition, that is, before the announcement of the Offer. Final approvals from NDRC and MOFCOM as well as a preliminary approval from SAFE are expected to be obtained before the completion of the Acquisition, that is, before the announcement of the Offer and no later than before the expiry of the acceptance period in the Offer. Final approval from SAFE to transfer the funds out from China cannot be obtained until the final settlement amount has been determined." It is not clear from HNA Tourism Group's announcement of the Offer whether the relevant approvals from NDRC and MOFCOM have been obtained, but since the Offer is subject to regulatory approvals it is the Board's understanding that the required approvals have not yet been obtained. Under the Takeover Rules, the Board is required, based on the statements made by HNA Tourism Group in connection with the Offer, to express its opinion on the effects the implementation the Offer may have on Rezidor, specifically employment, and its views on HNA Tourism Group's strategic plans for Rezidor and the effect these may be expected to have on employment and the places where Rezidor conducts its business. To that end, HNA Tourism Group has made the following statement in connection with the announcement of the Offer: "HNA Tourism Group views significant value on the competence of Rezidor's management and its employees. There are currently no decisions on any material changes to Rezidor's management or employees, including the terms of employment and locations of business." The Board cannot evaluate this but must assume that it is correct. ____________ This statement shall in all respects be governed by and construed in accordance with Swedish substantive law. Disputes arising from this statement shall be settled exclusively by Swedish courts. For further information, please contact: Staffan Bohman, acting chairman in relation to the Offer, through Jenny Winkler, Secretary of the Board, at tel: +32 2 702 9308. This information is information that Rezidor Hotel Group AB (publ) is obliged to make public pursuant to the Takeover Rules. The information was submitted for publication, through the agency of the contact person set out above, on February 20, 2017 at 7:30am CET. [1] Trudy Rautio, Wendy Nelson and David Berg have not, due to conflict of interest following the sale of Carlson Hotels to HNA Tourism Group, participated in the Board's processing of, or any other resolutions concerning, the Offer. According to a press release dated January 27, 2017, David Berg has with immediate effect resigned from his position as member of the Board. The remaining members of the Board, being Staffan Bohman, Anders Moberg, Charlotte Strömberg and Göran Larsson, have for the purposes of the offer appointed Staffan Bohman as chairman. [2] The Board has proposed a dividend of EUR 0.05 per share to be paid for the year ending December 31, 2016. [3] The Board notes the following statements made by HNA Tourism Group in connection with the announcement of the Offer: "If final regulatory approvals for the transfer of funds out from China to be used for settlement are not obtained before April 7, 2017, the settlement may be postponed until such final regulatory approvals have been obtained, in total up to nine months from the initiation of the acceptance period. Once the condition for the Offer is fulfilled or waived, HNA Sweden will be obligated to complete the Offer irrespective of whether the settlement is postponed." [4] These statements constitute English translations made by Rezidor and have, where relevant, been adjusted to match the defined terms used herein.


News Article | February 20, 2017
Site: news.yahoo.com

A view of the test-fire of Pukguksong-2 guided by North Korean leader Kim Jong Un on the spot, in this undated photo released by North Korea's Korean Central News Agency (KCNA) in Pyongyang February 13, 2017. KCNA/Handout via Reuters WASHINGTON (Reuters) - Washington urged Beijing to keep pressure on North Korea to return to talks aimed at preventing Pyongyang from making further advances in its weapons program in violation of U.N. resolutions. China's Commerce Ministry said on Saturday that it would suspend all imports of coal from North Korea starting Feb. 19. The announcement came as part of Beijing's efforts to implement international sanctions against the country. Earlier this month, Pyongyang tested an intermediate-range ballistic missile, its first direct challenge to the international community since U.S. President Donald Trump took office on Jan. 20. President Trump's administration has said that China should do more to pressure Pyongyang. "All countries should fully and transparently implement all relevant UN Security Council Resolutions on the DPRK," a State Department spokesperson said, referring to North Korea. "We continue to urge China to exert its unique leverage as North Korea's largest trading partner to convince Pyongyang to return to serious talks on denuclearization." China's Ministry of Commerce has said its ban on coal imports from North Korea would be effective until Dec. 31. China announced in April last year that it would ban North Korean coal imports to comply with sanctions imposed by the United Nations and aimed at starving the country of funds for its nuclear and ballistic missile programs. But it made exceptions for deliveries intended for "the people's well-being" and not connected to the nuclear or missile programs.

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