Market Newsdesk

TORONTO, Dec. 4, 2020 /CNW/ – Trading resumes in:

Company: Azarga Uranium Corp.

TSX Symbol: AZZ

All Issues: Yes

Resumption (ET): 8:00 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

TORONTO, Dec. 4, 2020 /CNW/ – Trading resumes in:

Company: Slate Grocery REIT

TSX Symbol: SGR.UN

All Issues: Yes

Resumption (ET): 8:00 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

TORONTO, Dec. 4, 2020 /CNW/ – Each year, the Women’s Executive Network (WXN) honours the top 100 Canadian women across various industries for their accomplishments as agents of change and their role in reshaping Canadian organizations. Yet again, RBC is represented at the WXN Canada’s Most Powerful Women: Top 100 Awards with Nazia Shahrin, Senior Director, Regulatory Strategy and Delivery, Personal & Commercial Banking, being recognized in the emerging leaders’ category.

“The ongoing pandemic has knocked women’s participation in the labour force down from a historic high to its lowest level in over 30 years. We can’t risk rolling back the important strides we’ve made to eliminate barriers and increase representation of women in leadership,” said Dave McKay, President and CEO, RBC. “Nazia and the emerging leaders recognized on this year’s list are helping to redefine inclusive leadership in our offices, boardrooms and video calls. Let’s work even harder to support them by continuing to address the inequalities that stand in the way of change and staying focused on creating more opportunities for women in corporate leadership.”

As a leader in Personal & Commercial Banking, Nazia delivers strategic solutions to ensure all regulatory expectations are met. She works with internal and external technology partners to find innovative solutions using automation and Artificial Intelligence (AI) to enhance in-house capabilities. In addition to her work with RBC, Nazia recently joined the Faculty of Information at the University of Toronto, where she teaches two graduate courses in Digital Transformation and Data Governance in the Masters of Information degree program.

RBC’s D&I vision is to be among the most inclusive companies, putting diversity into action to attract, retain and enable the best talent and increase leadership diversity. We challenge unconscious bias in our staffing, hiring and talent review processes. We are committed to attracting and retaining talented women, and enabling their advancement into leadership and key client facing roles.

We strive to be a recognized leader in the advancement of women through inclusive business, talent and community practices. For the second consecutive year, RBC ranked no. 4 in the Top 100 Most Diverse & Inclusive Companies in the 2020 Refinitiv Diversity & Inclusion Index which ranks more than 9,000 publicly listed companies, and also for the fourth year was named to the Bloomberg Gender-Equality Index (GEI), an annual review that measures gender equality across internal company statistics, employee policies, external community support and engagement and gender-conscious product offerings.

To learn more about the Diversity & Inclusion at RBC, visit www.rbc.com/diversity-inclusion.

More information on WXN’s 2020 Canada’s Most Powerful Women: Top 100 Award winners can be found at https://wxnetwork.com/page/top100awards.

About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 86,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients

thrive and communities prosper. As Canada’s biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 34 other countries. Learn more at rbc.com.‎

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.

SOURCE RBC Royal Bank

SHANGHAI, Dec. 4, 2020 /PRNewswire/ — CooTek (Cayman) Inc. (NYSE: CTK) (“CooTek” or the “Company”), a fast-growing global mobile internet company, today announced that the Company will present and meet with institutional investors at the following virtual investor conferences. For more information on CooTek presentations, please visit investor relations website https://ir.cootek.com, or contact [email protected].

• ICA BEST of Asia Discovery Conference on Thursday, December 10, 2020, HKT.
• ICA Insight Series
  Presentation on Tuesday, December 22, 2020, HKT.
  Registration: https://rb.gy/ypgtaf
• Needham Growth Conference 2021
  Presentation on January 11, 2021, EDT.
• ICR Conference 2021
  Presentation on January 11-14, 2021, EDT.

The Company’s management will participate in virtual meetings with institutional investors throughout these events. For additional information, please contact your respective institutional sales representative at each sponsoring bank.

About CooTek (Cayman) Inc.

CooTek is a fast-growing mobile internet company with a global vision, offering mobile applications. Our mission is to empower everyone to enjoy relevant content seamlessly. The Company’s user-centric and data-driven approach has enabled it to release appealing products to capture mobile internet users’ ever-evolving content needs and helps it rapidly attract targeted users. CooTek has developed and brought to market content-rich mobile applications, focusing on three categories: online literature, scenario-based content apps and casual games.

For more information on CooTek, please visit https://ir.cootek.com.  

For more information, please contact:

CooTek (Cayman) Inc.
Mr. Robert Cui
[email protected]  

ICA (Institutional Capital Advisory)
Mr. Kevin Yang
Phone: +86-021-8028-6033
E-mail: [email protected]

View original content:http://www.prnewswire.com/news-releases/cootek-to-participate-in-december-and-january-investor-conferences-301186303.html

SOURCE CooTek

NEWARK, N.J., Dec. 4, 2020 /PRNewswire/ — Public Service Enterprise Group (PSEG) today announced it has entered into a definitive agreement with Ørsted North America (Ørsted) to acquire a 25% interest in the 1,100-megawatt Ocean Wind project. This alliance, combining Ørsted’s global expertise in offshore wind with PSEG’s state and regional experience executing complex energy infrastructure projects and power market knowledge, will benefit New Jersey’s development of an offshore wind supply chain, job creation efforts and environmental stewardship.

“We are pleased to expand our partnership with Ørsted, a global leader in the development of offshore wind,” said PSEG Chairman, President and CEO Ralph Izzo. “As New Jersey’s first offshore wind project, Ocean Wind will lead the way for a productive first step into this forward-leaning industry, bringing with it new skills, jobs and carbon-free energy. Further, this investment in offshore wind energy is well-aligned with our company’s long-term clean energy strategy. We’re excited to continue our close relationship with Ørsted, combining each organization’s expertise to achieve powerful benefits for energy consumers and the state.”

“I’m delighted to extend our partnership with PSEG and welcome them on Ocean Wind, which will contribute significantly to New Jersey’s target of achieving 100% renewable power by 2050,” said Henrik Poulsen, CEO and President of Ørsted. “In addition to clean energy, Ocean Wind will bring jobs and industrial development to the Garden State during development and construction and throughout its operational lifetime. I look forward to delivering this flagship renewable energy project to New Jersey in close cooperation with PSEG.”

“Our two organizations have unmatched expertise and experience constructing complex energy projects,” said David Hardy, CEO for Ørsted Offshore North America. “We’re excited to partner with PSEG due to their extensive knowledge of the market and previous track record and we’re looking forward to providing enough clean energy for 500,000 New Jersey homes.”   

“PSEG and Orsted have natural synergies, and matching Ørsted’s global construction expertise with PSEG’s deep local history positions us well to deliver a successful project for New Jersey,” said PSEG Vice President of Offshore Wind Development Lathrop Craig. “As more states look to decarbonize their energy supply, we look forward to this and future opportunities throughout New Jersey and the Mid-Atlantic.”

The Ocean Wind project will generate clean, zero-carbon electricity and power half a million New Jersey homes from its location off the coast of southern New Jersey. Ocean Wind was selected by the state to be the first offshore wind farm as part of its intention to add 7,500 MW of offshore wind generating capacity by 2035; details of the award can be found in the June 2019 announcement from the New Jersey Board of Public Utilities. Expanding zero-carbon energy resources is a key element of New Jersey’s Energy Master Plan and central to Gov. Phil Murphy’s goal of achieving 100% clean energy for the state by 2050. 

The Ocean Wind project could provide first power in late 2024, subject to federal permitting timelines, other development and construction activities, and final investment decisions by Ørsted and PSEG. Completion of the acquisition is anticipated to occur in the first half of 2021, subject to approval by the New Jersey Board of Public Utilities and other customary closing conditions.

On July 31, PSEG announced it would explore strategic alternatives related to PSEG Power’s non-nuclear generation fleet, accelerating PSEG’s transition to a primarily regulated and contracted business with a zero-carbon generation platform. In line with this strategy, PSEG continues to evaluate participation in additional offshore wind opportunities in New Jersey and other mid-Atlantic states. 

Ørsted is the global leader in offshore wind development and operates 26 wind farms globally including the U.S.’s first offshore wind farm, the Block Island Wind Farm. In January, Ørsted was named the most sustainable company in the world by Corporate Knights. 

Wachtell, Lipton, Rosen & Katz is serving as transactional counsel to PSEG. Skadden, Arps, Slate, Meagher & Flom LLP is serving as transaction counsel to Ørsted.

Public Service Enterprise Group Inc. (PSEG) (NYSE: PEG) is a publicly traded diversified energy company with approximately 13,000 employees. Headquartered in Newark, N.J., PSEG’s principal operating subsidiaries are: Public Service Electric and Gas Co. (PSE&G), PSEG Power and PSEG Long Island. PSEG is a Fortune 500 company included in the S&P 500 Index and has been named to the Dow Jones Sustainability Index for North America for 13 consecutive years.

About Ørsted Offshore North America

The Ørsted vision is a world that runs entirely on green energy. Ørsted ranks #1 in Corporate Knights’ 2020 index of the Global 100 most sustainable corporations in the world and is recognized on the CDP Climate Change A List as a global leader on climate action.

In the United States, Ørsted operates the Block Island Wind Farm, America’s first offshore wind farm, and constructed the two-turbine Coastal Virginia Offshore Wind pilot project – the first turbines to be installed in federal waters. Ørsted has secured over 2,900 megawatts of additional capacity through five projects in the Northeast and Mid-Atlantic. Ørsted’s Offshore North America business is jointly headquartered in Boston, Massachusetts and Providence, Rhode Island and employs more than 150 people.

Forward-Looking Statement
The statements contained in this press release that are not purely historical are “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such statements are based on PSEG management’s beliefs as well as assumptions made by and information currently available to PSEG’s management. Factors that may cause actual results to differ materially from those contemplated in any forward-looking statements made by PSEG herein are discussed in its Annual Report on Form 10-K and subsequent reports on Form 10-Q and Form 8-K filed with the Securities and Exchange Commission (SEC), and available on its website: https://investor.pseg.com. All of the forward-looking statements made in this press release are qualified by these cautionary statements and PSEG cannot assure you that the results or developments anticipated by PSEG’s management will be realized or even if realized, will have the expected consequences to, or effects on, PSEG or its business, prospects, financial condition, results of operations or cash flows. Readers are cautioned not to place undue reliance on these forward-looking statements in making any investment decision. Forward-looking statements made in this press release apply only as of the date hereof. While PSEG may elect to update forward-looking statements from time to time, it specifically disclaims any obligation to do so, even in light of new information or future events, unless otherwise required by applicable securities laws.

CONTACTS:     

Investor Relations


Carlotta Chan

[email protected]   
973-430-6565

Media Relations
 
Marijke Shugrue
[email protected]
908-531-4253

Media Contacts

Lauren Burm

Ørsted North America
617-309-8730
[email protected]

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/pseg-to-acquire-25-ownership-interest-in-ocean-wind-new-jerseys-first-offshore-wind-farm-301186487.html

SOURCE Public Service Enterprise Group (PSEG)

HUNT VALLEY, Md., Dec. 4, 2020 /PRNewswire/ — Robert B. Barnhill, Jr. (together with the other participants of the consent solicitation, the “Barnhill Participants”), one of the largest stockholders of TESSCO Technologies Incorporated (the “Company” or “TESSCO”) (NASDAQ:  TESS), today announced that he has proposed a comprehensive settlement offer to TESCCO that would result in:

• A fully refreshed Board consisting of Emily Kellum Boss, J. Timothy Bryan, John W. Diercksen, Stephanie Dismore, Ronald D. McCray, Kathleen McLean and Sandip Mukerjee;
• Mr. Barnhill, Jay Baitler, John Beletic, Paul Gaffney, Cathy-Ann Martine-Dolecki and Morton F. Zifferer resigning effective immediately;
• Mr. Barnhill and Mr. Gaffney serving the Board in an advisory, non-voting capacity to assist in the transition;
• The Board adopting a policy allowing shareholders holding more than 5% of the outstanding stock to designate up to two directors (excluding Mr. Barnhill as one of these 5% shareholders);
• The Board enhancing its policy on diversity and inclusion;
• The Board amending TESSCO’s Bylaws to lower the threshold for shareholders to call a special meeting from 50% to 25%; and
• The Barnhill Participants agreeing to withdraw the consent solicitation, as well as certain voting commitments and standstill provisions through the 2021 annual meeting of shareholders.

“I am grateful that the shareholders have shown significant support for the need for change and I am making this offer as a critical first step in putting TESSCO back on the path to success.  The industry expertise, talents and diversity represented by the new Board, along with the historical perspective of Mr. Gaffney and me, and the addition of two directors designated by shareholders, will best position the Board to implement a strategy for success,” noted Mr. Barnhill.

While TESSCO touted very publicly its settlement offer, Mr Barnhill notes that it had significant undisclosed issues, including:

• It disregarded the strong feedback from shareholders that more change is needed and would effectively shortchange the shareholders that have pledged their support for the election of all of the Barnhill nominees.
• A precondition unique to the two Barnhill independent nominees that TESSCO proposed be added to the Board as part of the settlement (Mr. Bryan and Ms. McLean) which required that before taking their seats, they had to tender resignation letters. The effect of this requirement is that these independent nominees would be on the Board for two years – or less – regardless of shareholder wishes. This point was omitted by the Company in their press release.  
• Completely ignored Mr. Barnhill’s proposed concept of shareholders owning 5% or more of the outstanding stock being able to designate up to two individuals for election to the Board.
• The offer contained an overly restrictive voting requirement and an unacceptably long two-year standstill effectively denying Mr. Barnhill’s rights as a shareholder and designed to entrench the Board.
• Mr. Zifferer (who, as we previously discussed, adopted the strange position of staying on the Board until the end of the consent solicitation) would stay on the Board until the end of December of this year.
• There was no commitment that the reconstituted Board, as designed by the Company’s settlement, would not, again, add more directors without listening to the views of the TESSCO’s shareholders and input from new directors. 
• The Board did not constructively engage as they have touted. They didn’t respond to Mr. Barnhill’s last settlement offer for almost three weeks and then only after proxy advisory firms had weighed in.  Again, this is the same Board that added directors halfway through a consent solicitation and on the same day they presented to ISS. And this is the same Board that initially rejected Mr. Barnhill’s proposed nominees, then pursued a feigned attempt at interviewing the nominees before ultimately offering two of them Board seats subject to specious requirements.

Mr. Barnhill has filed a copy of his proposed term sheet with the Securities and Exchange Commission (the “SEC”), which can be accessed at no charge at the SEC’s website at www.sec.gov.

Important Additional Information

Mr. Barnhill, Ms. McLean, Ms. Boss, Mr. Bryan, Mr. Diercksen, UA 6-9-2016Robert B. Barnhill, Jr. Rev Trust, RBB-TRB LLC, a Maryland limited liability company (“RBB-TRB”), RBB-CRB LLC, a Maryland limited liability company (“RBB-CRB”), Robert B Barnhill Jr & Janet W Barnhill Tr FBO Durkin Slattery Barnhill Trust, Janet W Barnhill Tr UA 6 9 2016 Janet W Barnhill Rev Trust, Winston Foundation, Incorporated, a Maryland corporation, and Donald Manley (the “Barnhill Participants” or “We”) are participants in the solicitation of consents from the Company’s shareholders to remove John D. Beletic, Jay G. Baitler, Paul J. Gaffney and Morton F. Zifferer (and any other person or persons, other than those elected by this consent solicitation, elected, appointed or designated by the Board (or any committee thereof) to fill any vacancy or newly created directorship on or after September 25, 2020 and prior to the time that any of the actions proposed to be taken by the consent solicitation become effective) and elect Ms. McLean, Ms. Boss, Mr. Bryan and Mr. Diercksen to fill four of the resulting vacancies (as well as to amend the Company’s Sixth Amended and Restated By-Laws proposed in connection therewith). We have filed a definitive consent solicitation statement and a WHITE consent card with the Securities and Exchange Commission (the “SEC”) in connection with any such solicitation of proxies from the Company’s shareholders.

SHAREHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ THE DEFINITIVE CONSENT SOLICITATION STATEMENT, ACCOMPANYING WHITE CONSENT CARD AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY AS THEY CONTAIN IMPORTANT INFORMATION. UPDATED INFORMATION REGARDING THE IDENTITY OF POTENTIAL PARTICIPANTS AND THEIR DIRECT OR INDIRECT INTERESTS, BY SECURITY HOLDINGS OR OTHERWISE, IS SET FORTH IN THE DEFINITIVE CONSENT SOLICITATION STATEMENT AND OTHER MATERIALS FILED WITH THE SEC. Shareholders can obtain the definitive consent solicitation statement and any amendments or supplements to the definitive consent solicitation statement filed by the Participants with the SEC at no charge at the SEC’s website at www.sec.gov. Copies will also be available, without charge, on request from the Participants’ proxy solicitor, Harkins Kovler, LLC at +1 (800) 257-3995 or via email at [email protected].

Certain Information Regarding the Participants

Mr. Barnhill is the founder, former Chairman of the Board and the largest shareholder of the Company.

Mr. Barnhill beneficially owns 1,620,387 shares of the Company’s common stock (“Common Stock”) (approximately 18.5% of the outstanding shares), which includes 11,503.5 shares that Mr. Barnhill owns directly and the shares owned by the following Participants: UA 6-9-2016Robert B. Barnhill, Jr. Rev Trust owns 1,265,882 shares of Common Stock, RBB-TRB, LLC owns 109,125 shares of Common Stock, RBB-CRB, LLC owns 109,125 shares of Common Stock, Robert B Barnhill Jr & Janet W Barnhill Tr FBO Durkin Slattery Barnhill Trust, owns 30,750 shares of Common Stock, Janet W Barnhill Tr UA 6 9 2016 Janet W Barnhill Rev Trust owns 67,500 shares of Common Stock, and the Winston Foundation, Incorporated owns 26,500 shares of Common Stock. Mr. Barnhill is the sole manager of RBB-TRB and RBB-CRB, a trustee of the UA 6-9-2016Robert B. Barnhill, Jr. Rev Trust and the Robert B Barnhill Jr & Janet W Barnhill Tr FBO Durkin Slattery Barnhill Trust and a director of the Winston Foundation, Incorporated. Mr. Barnhill’s spouse is a trustee of the Janet W Barnhill Tr UA 6 9 2016 Janet W Barnhill Rev Trust. The percentage of Mr. Barnhill’s stock ownership is based on the 8,760,562 shares of Common Stock outstanding as of October 13, 2020, as reported in the Company’s Consent Revocation Statement on Schedule 14A, filed with the SEC on October 15, 2020. Christopher Barnhill may be considered a Participant in the solicitation but is no longer providing any assistance with respect to the solicitation and does not currently beneficially, directly or indirectly own any securities of the Company.

None of the Participants (other than Mr. Barnhill) currently beneficially, directly or indirectly own any securities of the Company.

Investor/Media Contacts:

Harkins Kovler, LLC
Peter Harkins, Jr. / Rahsaan Wareham
(212) 468-5394 / (212) 468-5399
[email protected] / [email protected]

 

View original content:http://www.prnewswire.com/news-releases/barnhill-responds-to-tessco-settlement-offer-with-comprehensive-board-refreshment-proposal-301186454.html

SOURCE Mr. Robert B. Barnhill, Jr.

HERSHEY, Pa., Dec. 4, 2020 /PRNewswire/ — Hershey is introducing a new Blossoms cookie, the Holiday Sugar Cookie Blossoms, to spark festive cookie baking this year. With a sugar cookie base and the recently released Hershey’sKisses Sugar Cookie candy at the center, the new Holiday Sugar Cookie Blossoms are a colorful addition to holiday traditions. 

The inspiration for the new Blossoms recipe comes from Hershey’s home state, Pennsylvania. The sugar cookie is a holiday favorite that was introduced to the world by Dutch settlers in Pennsylvania in the 1700s, and now serves as the base for the new Holiday Sugar Cookie Blossoms, featuringHershey’sKisses Sugar Cookie candy. This is one of over 25 Hershey Blossoms variations to add some flare to holiday baking this season.

“The Hershey Kitchen elves have been hard at work this year creating festive ways to brighten the holiday season,” said Erin Crawford, brand manager, Hershey holiday team. “We know that Blossoms are a holiday cookie staple. This year we wanted to introduce something new and festive showcasing our newest holiday Kisses – Hershey’s Kisses Sugar Cookie candy. The Holiday Sugar Cookie Blossoms are colorful, super easy cookies to make; bound to make sweet and special memories in the kitchen this holiday season.”

Hershey’s Kisses


 

Holiday Sugar Cookie Blossoms Recipe (yields 36 cookies)

Ingredients:

• 36 Hershey’s Kisses Sugar Cookie Candies
• Your favorite sugar cookie dough or mix
• Green and red decorator’s sugar

Directions:

1. Heat oven to 375° F. Remove wrappers from candies; set aside.
2. Mix cookie dough following package directions for cutout cookies. Divide dough into 36 equal (about 1-1/4 inch) balls; roll in green or red sugar. Place balls about 2 inches apart on ungreased cookie sheets.
3. Bake 8 to 10 minutes or until cookie edges are set. Cool 2 minutes; press candy piece into center of each cookie. Remove cookies from cookie sheet to wire rack. Cool completely.

The classic Peanut Butter Blossoms recipe, which consists of a peanut butter dough rolled in sugar and topped with a Hershey’sKisses Milk Chocolate candy, has been around for 63 years and is one of America’s favorite holiday cookies. With holiday baking more popular than ever this year, head over to HersheyHappiness.com to get over 25 additional Blossoms recipes to keep baking this entire holiday season.

About The Hershey Company
The Hershey Company is headquartered in Hershey, Pa., and is an industry-leading snacks company known for bringing goodness to the world through its iconic brands, remarkable people and enduring commitment to help children succeed. Hershey has approximately 16,000 employees around the world who work every day to deliver delicious, quality products. The company has more than 80 brands around the world that drive $8 billion in annual revenues, including such iconic brand names as Hershey’s®, Reese’s®, Kit Kat®, Jolly Rancher®, Ice Breakers®, SkinnyPop®, and Pirate’s Booty®.

For more than 125 years, Hershey has been committed to operating fairly, ethically and sustainably. Hershey founder, Milton Hershey, created the Milton Hershey School in 1909 and since then the company has focused on helping children succeed.

To learn more visit www.thehersheycompany.com
Follow:
Twitter
LinkedIn
Facebook
YouTube
Instagram 

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/hershey-inspires-holiday-baking-with-new-sugar-cookie-blossoms-recipe-301186439.html

SOURCE The Hershey Company

SOUTH PLAINFIELD, N.J., Dec. 4, 2020 /PRNewswire/ — PTC Therapeutics, Inc. (NASDAQ: PTCT) today announced that Translarna™ (ataluren) has been granted marketing approval in the Russian Federation for nonsense mutation Duchenne muscular dystrophy (nmDMD). It is estimated that 13% of DMD patients have a nonsense mutation. In countries where it is approved, Translarna is currently the only medicine that targets the underlying cause of nmDMD.¹

“Translarna was the first therapeutic ever approved for nonsense mutation Duchenne muscular dystrophy patients and we are excited to expand approval of Translarna into Russia,” stated Stuart W. Peltz, Ph.D., Chief Executive Officer of PTC Therapeutics, Inc. “There has been great interest from Russian physicians to be able to access a treatment that targets the underlying cause of the disease, and a number of nmDMD patients have already been identified who can potentially benefit from Translarna. Our goal is to bring this product to nmDMD patients globally and this approval marks another important milestone.”

Translarna marketing approval has been granted by the Ministry of Health of the Russian Federation for the treatment of Duchenne muscular dystrophy (DMD) caused by a nonsense mutation in patients 2 years and older. Primarily affecting males, DMD is a rare, irreversible, and fatal genetic disorder that results in progressive muscle weakness from early childhood and leads to premature death in the mid-twenties due to heart and respiratory failure.² It is caused by the lack of functional dystrophin protein.² 

About Translarna
Translarna (ataluren), discovered and developed by PTC Therapeutics, Inc., is a protein restoration therapy designed to enable the formation of a functioning protein in patients with genetic disorders caused by a nonsense mutation. A nonsense mutation is an alteration in the genetic code that prematurely halts the synthesis of an essential protein. The resulting disorder is determined by which protein cannot be expressed in its entirety and is no longer functional, such as dystrophin in Duchenne muscular dystrophy. Translarna is licensed in the European Economic Area for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients aged two years and older. Translarna is being distributed in over 50 countries. Ataluren is an investigational new drug in the United States.

About PTC Therapeutics, Inc.
PTC is a science-driven, global biopharmaceutical company focused on the discovery, development and commercialization of clinically differentiated medicines that provide benefits to patients with rare disorders. PTC’s ability to globally commercialize products is the foundation that drives investment in a robust and diversified pipeline of transformative medicines and our mission to provide access to best-in-class treatments for patients who have an unmet medical need. To learn more about PTC, please visit us at www.ptcbio.com and follow us on Facebook, on Twitter at @PTCBio, and on LinkedIn.

For More Information:

Investors

Lisa Hayes

+1 (732) 354-8687
[email protected]

Media:

Jane Baj

+1 (908) 912-9167
[email protected] 

Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. All statements contained in this release, other than statements of historic fact, are forward-looking statements, including statements regarding: the future expectations, plans and prospects for PTC, including with respect to the commercialization of its products and product candidates; PTC’s strategy, future operations, future financial position, future revenues, projected costs; and the objectives of management. Other forward-looking statements may be identified by the words “guidance”, “plan,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions.

PTC’s actual results, performance or achievements could differ materially from those expressed or implied by forward-looking statements it makes as a result of a variety of risks and uncertainties, including those related to: the outcome of pricing, coverage and reimbursement negotiations with third party payors for PTC’s products or product candidates that PTC commercializes or may commercialize in the future; PTC’s ability to complete a dystrophin study necessary to support a re-submission of its Translarna NDA for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD) to the FDA, and PTC’s ability to perform any necessary additional clinical trials, non-clinical studies, and CMC assessments or analyses at significant cost; PTC’s ability to maintain its marketing authorization of Translarna for the treatment of nmDMD in the European Economic Area (EEA), including whether the European Medicines Agency (EMA) determines in future annual renewal cycles that the benefit-risk balance of Translarna authorization supports renewal of such authorization; PTC’s ability to enroll, fund, complete and timely submit to the EMA the results of Study 041, a randomized, 18-month, placebo-controlled clinical trial of Translarna for the treatment of nmDMD followed by an 18-month open-label extension, which is a specific obligation to continued marketing authorization in the EEA; significant business effects, including the effects of industry, market, economic, political or regulatory conditions; changes in tax and other laws, regulations, rates and policies; the eligible patient base and commercial potential of PTC’s products and product candidates; PTC’s scientific approach and general development progress; and the factors discussed in the “Risk Factors” section of PTC’s most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K, as well as any updates to these risk factors filed from time to time in PTC’s other filings with the SEC. You are urged to carefully consider all such factors.

As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. There are no guarantees that any product will receive or maintain regulatory approval in any territory, or prove to be commercially successful, including Translarna.

The forward-looking statements contained herein represent PTC’s views only as of the date of this press release and PTC does not undertake or plan to update or revise any such forward-looking statements to reflect actual results or changes in plans, prospects, assumptions, estimates or projections, or other circumstances occurring after the date of this press release except as required by law.

¹Birnkrant DJ, et al. Lancet Neurol. 2018;17:251–267. Kalman L, et al. J Mol Diagn. 2011;13:167–174. Bladen CL, et al. Hum Mutat. 2015;36:395–402. Pichavant C, et al. Mol Ther. 2011;19:830–840. Prior, et al. American Journal of Human Genetics 1995.

²About Duchenne. (n.d.). Retrieved November 30, 2020, from https://takeonduchenne.co.uk/about-duchenne/

View original content:http://www.prnewswire.com/news-releases/ptc-announces-translarna-approval-in-russia-for-the-treatment-of-duchenne-muscular-dystrophy-301186438.html

SOURCE PTC Therapeutics, Inc.

NEW YORK, Dec. 4, 2020 /PRNewswire/ — Financing for restaurant franchise operators in the large and middle-tier segments has mostly bounced back to what it had been before the onset of the COVID-19 pandemic, according to Brian Geraghty, head of Restaurant  Finance at Mitsubishi UFJ Financial Group (MUFG).  

A resurgence in rent-adjusted leverage

“In the U.S. we see loan terms and pricing that are as aggressive as they were prior to the full-blown health crisis that came into view in late-March,” Mr. Geraghty says, adding that banks have reverted to accepting a higher leverage profile among borrowers for financing. “We see franchisees’ rent-adjusted leverage ratios back to 5.75 after tightening by roughly three-quarters of a turn—to 5.0—during the spring of 2020.”

Rent adjusted leveraged (RAL), also known as lease-adjusted leverage, is the ratio of debt to EBITDAR (or earnings before interest, taxes, depreciation, amortization and rent costs). Restaurant lenders evaluate the RAL of their borrowers, many of which do not own their properties but rather lease them.

Rise in M&A and franchise purchases

Mr. Geraghty cites recent momentum in merger-and-acquisition (M&A) activity in the quick-service and fast-casual market categories of the restaurant industry, which are defined as establishments offering quick, inexpensive dining with limited preparation and customization, no seating hosts, and no alcoholic beverages.

“Recent restaurant acquisitions in these market categories highlight the substantial amount of readily available capital for deployment,” he says. “Financial buyers, in particular, see investment opportunities in large and mid-sized restaurants that are surviving the pandemic, proving the resilience of their business models, and able to provide portfolio diversification as consumer-facing outfits.”

Mr. Geraghty also points to an upswing in the valuations and frequency at which franchise establishments are changing hands. “In the mid-sized segment, we see a greater number of franchisee purchases at high prices, which indicate to us the desire of owners to enter into this space or expand their foothold,” he says.

Lessons learned from the pandemic

Mr. Geraghty notes that restaurants have emerged from the pandemic with valuable learning experiences that are helping them improve efficiency, enhance customer service and economize.

“The changing economics of quick-service and fast-casual restaurants have led many to shift their focus to drive-through and take-out offerings, and to invest in the technological infrastructure that enables them to field online orders,” he says. “All the same, casual-dining, family-dining and fine-dining establishments, which rely more on table service, are facing greater challenges.”

MUFG is one of the world’s largest financial institutions by assets, with approximately $3.3 trillion.¹

About Mitsubishi UFJ Financial Group, Inc.’s U.S. Operations including MUFG Americas Holdings Corporation

The U.S. operations of Mitsubishi UFJ Financial Group, Inc. (MUFG), one of the world’s leading financial groups, has total assets of $339 billion at September 30, 2020. As part of that total, MUFG Americas Holdings Corporation (MUAH), a financial holding company, bank holding company, and intermediate holding company, has total assets of $164 billion at September 30, 2020. MUAH’s main subsidiaries are MUFG Union Bank, N.A. and MUFG Securities Americas Inc. MUFG Union Bank, N.A. provides a wide range of financial services to consumers, small businesses, middle-market companies, and major corporations. As of September 30, 2020, MUFG Union Bank, N.A. operated 348 branches, consisting primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York, and Georgia. MUFG Securities Americas Inc. is a registered securities broker-dealer which engages in capital markets origination transactions, domestic and foreign debt and equities securities transactions, private placements, collateralized financings, and securities borrowing and lending transactions. MUAH is owned by MUFG Bank, Ltd. and Mitsubishi UFJ Financial Group, Inc. MUFG Bank, Ltd., a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc., has offices in Argentina, Brazil, Chile, Colombia, Peru, Mexico, and Canada. Visit www.unionbank.com or www.mufgamericas.com for more information.

About MUFG

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with more than 360 years of history, MUFG has a global network with over 2,700 locations in more than 50 countries. The Group has over 180,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.  The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges.

Visit https://www.mufg.jp/english for more information.

¹ As of September 30, 2020, at the exchange rate of USD=¥105.8

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SOURCE MUFG