Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
CHICAGO--(BUSINESS WIRE)-- LSC Communications, Inc. (OTCQX: LKSD) (“LSC” or the “Company”) today announced that the U.S. Bankruptcy Court for the Southern District of New York (the “Court”) has approved its previously announced stock and asset purchase agreement, under which an affiliate of Atlas Holdings LLC (“Atlas””) with the support of certain of LSC’s secured creditors (the “Creditor Group”), will acquire substantially all of the Company’s assets. “With the Court’s approval of the sale, we are able to move forward with this value-maximizing transaction that represents the best path forwa...
CHICAGO--(BUSINESS WIRE)-- LSC Communications, Inc. (OTCQX: LKSD) (“LSC” or the “Company”) today announced that the Company has entered into a stock and asset purchase agreement (the “Purchase Agreement”) with an affiliate of Atlas Holdings LLC (“Atlas” or the “Purchaser”) with the support of certain of LSC’s secured creditors (the “Creditor Group”). Under the terms of the Purchase Agreement, the Purchaser will acquire substantially all of the Company’s assets through a combination of cash and a credit bid of obligations under the Company’s secured term loan facility and senior secured notes ...
CHICAGO--(BUSINESS WIRE)-- LSC Communications, Inc. (OTC: LKSDQ) today reported financial results for the second quarter of 2020. Financial Highlights: Net sales of $532 million compared to $869 million in the second quarter of 2019 Organic net sales decrease of 29.1% from the second quarter of 2019 GAAP net loss of $63 million, or $1.86 per diluted share, compared to net loss of $25 million, or $0.72 per diluted share, in the second quarter of 2019 Non-GAAP net loss of $16 million, or $0.46 per diluted share, compared to non-GAAP net income of $3 million, or $0.09 per diluted share...
CHICAGO--(BUSINESS WIRE)-- LSC Communications, Inc. (OTC: LKSDQ) today reported financial results for the first quarter of 2020. Financial Highlights: Net sales of $701 million compared to $845 million in the first quarter of 2019 Organic net sales decrease of 11.2% from the first quarter of 2019 GAAP net loss of $52 million, or $1.56 per diluted share, compared to net loss of $125 million, or $3.77 per diluted share, in the first quarter of 2019 Non-GAAP net loss of $25 million, or $0.75 per diluted share, compared to non-GAAP net loss of $5 million, or $0.14 per diluted share, in ...
CHICAGO--(BUSINESS WIRE)-- LSC Communications, Inc. (OTCQX: LKSD) (“LSC” or the “Company”) today announced that the Company, along with most of its U.S. subsidiaries, has voluntarily filed for business reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. The Company’s decision follows a comprehensive evaluation of opportunities to reduce its debt and better position LSC to compete and deliver exceptional products and services to its clients. LSC has sufficient liquidity to continue operating its business safely and effi...
CHICAGO--(BUSINESS WIRE)-- LSC Communications, Inc. (OTCQX: LKSD) (“LSC” or the “Company”) today announced that on February 27, 2020, its Board of Directors adopted a Stockholder Protection Rights Agreement (the “Rights Agreement”) and declared a dividend of one Right on each outstanding share of Common Stock. The record date to determine stockholders entitled to receive the Rights is March 9, 2020. The Rights Agreement will expire on February 27, 2021. The Rights Agreement is designed to ensure that all LSC stockholders receive fair and equal treatment in the event of any proposed takeover ...
CHICAGO--(BUSINESS WIRE)-- LSC Communications, Inc. (OTCQX: LKSD) today reported financial results for the fourth quarter of 2019. Financial Highlights: Net sales of $778 million compared to $939 million in the fourth quarter of 2018 Organic net sales decrease of 14.1% from the fourth quarter of 2018 GAAP net loss of $169 million, or $5.02 per diluted share, compared to net loss of $16 million, or $0.47 per diluted share, in the fourth quarter of 2018 Non-GAAP net loss of $34 million, or $1.03 per diluted share, compared to non-GAAP net income of $4 million, or $0.12 per diluted sha...
CHICAGO--(BUSINESS WIRE)-- LSC Communications, Inc. (OTCQX: LKSD) (“LSC or the “Company”) today announced that Sententia Group, LP has nominated 6 individuals to stand for election as directors at LSC’s 2020 Annual Meeting of Shareholders. LSC shareholders are not required to take any action at this time. LSC issued the following statement: “Since the termination of its merger with Quad Graphics last year, LSC has acted quickly to take decisive action to manage LSC’s operational and financial position. We have narrowed the Company’s strategic focus and are aligning our manufacturing platfo...
CHICAGO--(BUSINESS WIRE)-- LSC Communications, Inc. (OTCQX: LKSD) (“LSC” or the “Company”) today announced that it will close its manufacturing facilities in Strasburg, VA, Glasgow, KY and Mattoon, IL as the Company continues to focus on manufacturing footprint optimization to align with industry trends. These actions will strengthen the Company’s manufacturing platform by significantly reducing costs and improving utilization across LSC’s production facilities. The streamlined platform will enable the Company to continue providing the industry’s highest levels of quality and service to publis...
CHICAGO--(BUSINESS WIRE)-- LSC Communications, Inc. (NYSE: LKSD) (“LSC” or the “Company”) today announced that it received notification from the New York Stock Exchange (the “NYSE”) that the NYSE has determined to commence proceedings to delist the Company’s common stock (the “Common Stock”) from the NYSE and that trading in the Common Stock on the NYSE has been suspended, effective immediately. The NYSE reached its decision pursuant to Rule 802.01B of the NYSE Listed Company Manual because the Company did not meet the NYSE’s continued listing standard that requires listed companies to maint...
CHICAGO--(BUSINESS WIRE)-- LSC Communications, Inc. (NYSE: LKSD) (“LSC”) announced today that it received notification from the New York Stock Exchange (NYSE) on November 20, 2019, that the Company is no longer in compliance with NYSE continued listing criteria, which require listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading-day period. In accordance with NYSE rules, the Company has a period of six months from receipt of the notice to regain compliance with the NYSE’s minimum share price requirement, or until the Company’s next annual...
CHICAGO--(BUSINESS WIRE)-- LSC Communications, Inc. (NYSE: LKSD) today reported financial results for the third quarter of 2019. Financial Highlights: Net cash provided by operating activities of $86 million in the third quarter of 2019, compared to net cash from operating activities of $0 million in the third quarter of 2018 Non-GAAP free cash flow of $75 million, compared to ($15) million in the third quarter of 2018 Net sales of $834 million compared to $1,015 million in the third quarter of 2018 Organic net sales decrease of 9.3% from the third quarter of 2018 GAAP net income ...
CHICAGO--(BUSINESS WIRE)-- LSC Communications (NYSE: LKSD), a leader in print and digital media solutions, announced today that the company was honored with 12 awards during the 2019 Gold Ink Awards ceremony. Presented by Printing Impressions, the Gold Ink Awards is one of the industry’s most prestigious print competitions. LSC’s 12 awards were for printed pieces across nine different categories within the main categories of Commercial Printing, Magazines and Books. “High quality and consistency that support our clients’ brand strategies is a core value for LSC,” said Stefanie Cortes, Direct...
CHICAGO--(BUSINESS WIRE)-- LSC Communications (NYSE: LKSD) announced today that the company was honored with six awards in the 2019 ‘Golden Cylinder’ Awards, an annual competition designed to identify the “Best of Gravure” in each segment of the printing industry and to distinguish technical innovations. Three different LSC Communications facilities produced the six print pieces that were recognized with awards, with four awards for magazines and two for catalogs. Winning pieces were selected based on various factors including image quality, overall visual impact, and technical difficulty an...
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of LSC Communications, Inc.. Global Credit Research- 09 Oct 2019. Toronto, October 09, 2019-- Moody's Investors Service has completed a periodic review of the ratings of LSC Communications, Inc. and other ratings that are associated with the same analytical unit.
CHICAGO--(BUSINESS WIRE)-- LSC Communications, Inc. (NYSE: LKSD) (“LSC”) announced today that it will report third-quarter 2019 results and host a conference call on Thursday, November 7, 2019. The conference call and live webcast will begin at 8:30 am Eastern Time. The live webcast will be accessible on LSC’s web site: , or through this . Individuals wishing to dial in to the call or access the live webcast must register in advance at this . After registering, participants will receive dial-in numbers, a passcode, and a link to access the live event. A webcast replay will be archived on L...
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