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For your convenience, we have archived all of Yum! Brands' statements and press releases since our company's inception in 1997. To view an archived press release, please select a 'year' or 'brand' from the list above.
Little Sheep Shareholders Approve Privatization Proposal
HONG KONG, January 6, 2012 - Yum! Brands, Inc. (NYSE:YUM; “Yum!”) is delighted to announce that the proposal for the privatization of Little Sheep Group Ltd. (HKEx: 968; “Little Sheep”) by way of a scheme of arrangement (“Scheme”) has been approved by the independent shareholders of Little Sheep at the Court Meeting and Extraordinary General Meeting today. Under the proposal, Yum!, through a wholly owned subsidiary, is offering Little Sheep scheme shareholders HK $6.50 cash per Scheme share and is offering holders of options to subscribe for shares in Little Sheep HK $4.39 per option to cancel such options. Little Sheep operates hot pot concept restaurants primarily in China and is headquartered in Baotou, Inner Mongolia, China. Its shares are listed on the Hong Kong Stock Exchange.
Yum! will proceed to the next step of the privatization and will seek the sanction of the Scheme by the Grand Court of the Cayman Islands at the petition hearing on 20 January, 2012. Assuming the Scheme is approved by the Grand Court of the Cayman Islands, it is expected that the Scheme will become effective on 1 February, 2012, whereupon Little Sheep will be privatized and will become a subsidiary of Yum!.
Jing-Shyh Sam Su, Chairman and CEO of Yum! Restaurants China, Vice-Chairman of Yum! Brands, Inc. commented: “We are pleased to see that the Independent Little Sheep Shareholders value the offer provided by Yum!. We have a strong commitment to the China market and to the Little Sheep brand. We are confident we can further strengthen Little Sheep’s brand, business model and market position.”
Should the Scheme become effective, the two original Little Sheep founders, Mr. Zhang Gang and Mr. Chen Hongkai, will remain as minority shareholders. Mr. Zhang Gang will remain a director of Little Sheep with the title of “Founding Chairman”. Both Mr. Zhang and Mr. Chen will continue to provide strategic advice on the business and concept development of Little Sheep and work with Yum! to further build the Little Sheep brand.
About Yum! Brands and Yum! China
Yum! Brands is listed on the NYSE (YUM). It is the world’s largest restaurant company based on number of system units, with over 36,000 units in more than 110 countries and territories. Through the three concepts of KFC, Pizza Hut and Taco Bell, Yum! develops, operates, franchises and licenses a worldwide system of restaurants which prepare, package and sell a menu of competitively priced food items.
Based in Shanghai, the China division of Yum! Brands, Inc. is recognized for its size, unique strength and importance. In 2010, the China division of Yum! Brands, Inc. opened more than 500 new restaurants in mainland China. KFC also continues to be the number one quick-service restaurant brand in mainland China today, with nearly 3,500 restaurants in more than 700 cities. Pizza Hut is also the number one casual dining brand in mainland China with over 560 Pizza Hut Casual Dining restaurants in over 130 cities.
About Little Sheep Group Ltd
Little Sheep is a company incorporated in the Cayman Islands with limited liability, whose shares have been listed on the Main Board of The Stock Exchange of Hong Kong Limited since June 12, 2008. The Little Sheep Group is principally engaged in the operation of a full-service restaurant chain, provision of catering services and sale of related food products.
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The releases contained on this page may contain dated information. Readers are cautioned that the releases on this page are maintained here solely for the purposes of providing historical background about Yum! Brands, its business and product offerings. As the releases may contain dated information, they should not be relied upon as providing accurate or current information. Yum! Brands disclaims any intention or obligation to update or revise any of the information contained in any of the releases on this page, whether as a result of new information, future events or otherwise.
Yum! News 2012
November 29, 2012 Yum! Brands Announces Full-Year 2013 Expectations; Reconfirms Full-Year 2012 EPS Growth Forecast of at least 13%; Will Host Investor Update Meeting Thursday, December 6, 2012
October 24, 2012 Muhammad Ali Center Peace Gardens Top 100 Worldwide As Program Kicks-Off Third Year of Offering School Garden Grants That Help Teach Children Multicultural Respect, Hunger Relief and Nutrition; Yum! Brands Foundation Underwrites Peace Garden Initiative as Extension of World Hunger Relief Effort through Partnership with National Gardening Association
October 3, 2012 World Food Programme Ambassador Christina Aguilera and Yum! Brands Chairman David Novak Honored at State Department with George McGovern Leadership Award
October 2, 2012 Yum! Brands Launches Defining Global Volunteer Movement; Hunger to Hope Volunteer Challenge Encourages Local Community Service
September 27, 2012 Yum! Brands, KFC, Pizza Hut and Taco Bell Launch Annual World Hunger Relief Effort with Global Spokesperson Christina Aguilera Using Her Voice for Good in New Public Service Announcement; Aguilera Urges People to Help the Nearly 1 Billion Hungry Worldwide; Visit FromHungertoHope.com
September 25, 2012 Yum! China Celebrates 25th Anniversary and 4,000th KFC Restaurant; Milestone Spotlights Company’s Growth and Leading Position in China
September 24, 2012 Yum! Brands Receives Gold Award for Excellence for “Taking People With You” Employee Leadership Training Program from Prestigious Learning and Development Organization Brandon Hall Group; Building People Capability Drives Culture and Business at World’s Largest Restaurant Company
August 3, 2012 Yum! Brands Chairman and CEO David Novak Receives “2012 CEO of the Year” Honor from Chief Executive Magazine
August 1, 2012 Christina Aguilera Uses Voice for Good in New Public Service Announcement for Yum! Brands’ World Hunger Relief Effort This Fall
June 27, 2012 Chief Executive Magazine Names Yum! Brands’ Chairman and CEO David Novak 2012 CEO of the Year
April 30, 2012 Yum! Brands Inc. Promotes Carucci President and Grismer Chief Financial Officer
April 13, 2012 Tomorrow’s Leaders Find Solutions to Fight World Hunger Today by Leveraging Principles in Yum! Brands Chairman and CEO David Novak’s Bestselling Book: TAKING PEOPLE WITH YOU: The Only Way to Make BIG Things Happen
March 23, 2012 Yum! Brands Inc. Declares Quarterly Dividend of $0.285 per Share
January 6, 2012 Little Sheep Shareholders Approve Privatization Proposal
January 3, 2012 Yum! Brands Chairman and CEO David Novak Shares Break-Through Leadership Strategies in New Book, TAKING PEOPLE WITH YOU: The Only Way to Make BIG Things Happen
December 05, 2011 Yum! Brands Announces Full-Year 2012 Expectations; Raises 2011 EPS Growth Forecast to at least 13%, Excluding Special Items; Will Host Investor Update Meeting Wednesday, December 7, 2011