DOCSLIB.ORG

Annual Report 2013

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2013 black earthblack ltd. farming a nnual r epor t t 2013 Naʦutilus House Laʦ Cour des Caʦsernes, St. Helier ANNUAL REPORT Jersey JE1 3NH Chaʦnnel Islaʦnds Regʦ No. 89973 2013 www . blaʦckeaʦrthfaʦrmingʦ . com Generaʦl Shaʦreholder Informaʦtion Caʦlendaʦr of events in 2014 – 2014 Annual General Meeting: 14 May Annuaʦl Generaʦl Meetingʦ – 1Q Interim Report, 1 January–31 March: 16 May Black Earth Farming Ltd (“Black Earth Farming”) hereby – 2Q Interim Report, 1 January–30 June: 15 August invites shareholders to participate in the Annual General – 3Q Interim Report, 1 January–30 September: 14 November Meeting at 12.00 CET on 14 May 2014 at Summit, Grev Ture- gatan 30, Stockholm 114 38, Sweden. Investor Relaʦtions Avto Makharoblishvili Paʦrticipaʦtion + 7 916 598 16 19 Holders of Swedish Depository Receipts (“SDRs”) wishing [email protected] to attend the Annual General Meeting shall be recorded in the register of shareholders maintained by Euroclear (for- Internet website mer VPC AB) on Thursday 8 May 2014, and must notify the www.blackearthfarming.com Company of their intention to attend the Meeting no later than 13.00 CET on 8 May 2014. The holder of the Swedish SDR tickers Depository Receipts shall state his name, personal or com- – NASDAQ OMX Stockholm: BEF SDB pany identifi cation number, address as well as telephone – Reuters: BEFsdb.ST number. – Bloomberg: BEFSDB SS Notice of paʦrticipaʦtion Holders of Swedish Depository Receipts can give their notice of participation: – by mail at the address: Annual General Meeting, Black Earth Farming Ltd, c/o Computershare, Box 610, 182 16 Danderyd Sweden – by telephone +46 (0)8 518 01 551 – by e-mail to [email protected] Nominee-regʦistered shaʦres Holders of Swedish Depository Receipts which hold their receipts through nominees (Sw. förvaltare) must request a temporary registration of the voting rights in order to be able to participate at the General Meeting. Holders of Swedish Depository Receipts that want to obtain such reg- istration must contact the nominee regarding this well in Disclaimer advance of 8 May. Voting forms (Sw. röstkort) will be dis- This report contains “forward-looking statements”. All state- tributed to the holders that have complied with the above ments other than statements of historical facts included in this requirements and the voting form must be brought to the report, including without limitation, those regarding the Com- Annual General Meeting. pany’s fi nancial position, business strategy, the Company’s man- agement’s, or as appropriate the Directors’, plans, objectives, Proxies, etc. goals, strategies and future operations and performance and the If a holder of Swedish Depository Receipts intends to assumptions underlying these statements are forward-looking be represented by proxy, the name of the proxy holder statements. Such forward-looking statements involve known and shall be stated. For holders of Swedish Depository Re- unknown risks and uncertainties and other factors which are or ceipts who will be represented by a proxy at the Meet- may be beyond our control, which may cause the actual results, ing, a proxy form is available at the Company’s website on performance or achievements of the Company, or industry results, www.blackearthfarming.com. The signed proxy form to be materially diff erent from any future results, performance or should be sent or mailed to the company at the above stated achievements expressed or implied by such forward-looking state- valid addresses. ments. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment, in which the Company will oper- ate in the future. Supplementary USD* equivalent fi gures found in this report in relation to company fi nancial information are provided solely for the convenience of users as described in Note 2 (d) to the Consoli- dated Financial Statements and do not form part of the audited con- solidated fi nancial statements. Some numerical fi gures included in this Presentation have been subject to rounding adjustments. Accordingly, numerical fi gures shown as totals in certain graphs or tables may not be an exact arithmetic aggregation of the fi gures that preceded them. Blaʦck Eaʦrth Faʦrmingʦ aʦt aʦ Glaʦnce . 2 2013 in Brief . 4 CEO Staʦtement . 6 This is Blaʦck Eaʦrth Faʦrmingʦ . 9 Maʦrket/Industry Overview. 14 Operaʦtionaʦl Review . 20 2013 Finaʦnciaʦl Review . 28 Risks aʦnd Sensitivity Anaʦlysis . .. 35 Five Yeaʦr Summaʦry . 39 The Blaʦck Eaʦrth Faʦrmingʦ shaʦre. 40 Consolidaʦted Finaʦnciaʦl Staʦtements . 42 Staʦtement of maʦnaʦgʦement responsibilities . 43 Independent Auditors’ Reports. 44 Consolidaʦted Staʦtement of Comprehensive Income/(Loss) . 46 Consolidaʦted Staʦtement of Finaʦnciaʦl Position . 47 Consolidaʦted Staʦtement of Chaʦngʦes in Equity . 48 Consolidaʦted Staʦtement of Caʦsh Flows. 49 Notes to the Consolidaʦted Finaʦnciaʦl Staʦtements. 50 Boaʦrd, Maʦnaʦgʦement aʦnd Auditors . 74 Corporaʦte Governaʦnce Report . 76 Boaʦrd of Directors’ report on internaʦl control . 81 Sustaʦinaʦbility. 83 Terms aʦnd Defi nitions . 84 1 Blaʦck Eaʦrth Faʦrmingʦ aʦt aʦ Glaʦnce • Business Concept Laʦnd Ownership Productivity Enhaʦncement Best Praʦctice Faʦrmingʦ Operaʦtions – A maʦjor producer of cereaʦls aʦnd oilseeds with 789 thousaʦnd tons production in 2013 – A focus on increaʦsingʦ productivity to become aʦ best in claʦss aʦgʦro industriaʦl compaʦny in terms of cost aʦnd operaʦtingʦ efficiency • As aʦt 31 December 20131, 254,000 Hectaʦres of World Claʦss Faʦrm Laʦnd in Full Ownership – Totaʦl laʦnd baʦnk of 308,000 hectaʦres with 82% in full ownership – Non depreciaʦtingʦ aʦsset recorded aʦt aʦcquisition cost of USD* 54.7 million in staʦtement of fi naʦnciaʦl position aʦs of 31 December 2013 • Operaʦtingʦ in Russiaʦ’s Centraʦl “Blaʦck Eaʦrth” Regʦion – Agʦriculturaʦl regʦion endowed with some of the most fertile soils in the world BEF: ONE OF THE LARGEST OWNERS OF PRIME RUSSIAN FARM LAND D1: BEF 2013 Laʦnd holdingʦs1 Compaʦrison of Blaʦck Eaʦrth Faʦrmingʦ’s fully owned hectaʦraʦgʦe aʦsof 31 December 2013 with Centraʦl Paʦrk (New York), Hyde Paʦrk (London), Totaʦl laʦnd: 308,000 hectaʦres Hongʦ Kongʦ aʦnd Luxembourgʦ1 Longʦ term leaʦses14% Laʦnd in owner- Centraʦl Paʦrk (New York) 253 haʦ ship regʦistraʦ- tion 4% Hyde Paʦrk (London) 341 haʦ Hongʦ Kongʦ 110,400 haʦ Luxembourgʦ 258,600 haʦ Laʦnd in regʦistered ownership 82% Blaʦck Eaʦrth Faʦrmingʦ 254,000 haʦ 1. On 4 April 2014, the Compaʦny aʦnnounced plaʦns to sell 27,754 hectaʦres of controlled laʦnd aʦnd relaʦted reaʦl estaʦte aʦssets in the Voronezh regʦion. Refer aʦlso tonote36 to the fi naʦnciaʦl staʦtements on Subsequent events * The USD equivaʦlent fi gʦures aʦre provided for informaʦtion purposes only aʦnd do not form paʦrt of the consolidaʦted fi naʦnciaʦl staʦtements – refer to note 2(d). 2 Kursk Lipetsk Voronezh1 Taʦmbov2 Controlled laʦnd: 82,900 haʦ Controlled laʦnd: 64,100 haʦ Controlled laʦnd: 73,300 haʦ Controlled laʦnd: 71,600 haʦ Owned laʦnd: 75,700 haʦ Owned laʦnd: 53,500 haʦ Owned laʦnd: 56,800 haʦ Owned laʦnd: 55,200 haʦ Laʦnd in production: 72,700 haʦ Laʦnd in production: 64,000 haʦ Laʦnd in production: 52,000 haʦ Laʦnd in production: 42,200 haʦ Storaʦgʦe caʦpaʦcity: 149,000 tons Storaʦgʦe caʦpaʦcity: 139,200 tons Storaʦgʦe caʦpaʦcity: 122,100 tons Storaʦgʦe caʦpaʦcity: 83,600 tons 1. On 4 April 2014, the Compaʦny aʦnnounced plaʦns to sell 27,754 hectaʦres of controlled laʦnd aʦnd relaʦted reaʦl estaʦte aʦssets inthe Voronezh regʦion. 2. 12,800 haʦ in Saʦmaʦraʦ is recorded aʦs investment property held for saʦle aʦs of 31 December 2013. Baʦltic Seaʦ Export Route Moscow RUSSIA Lipetsk Taʦmbov Kursk Voronezh Blaʦck Seaʦ Export Route D2: 2013 Revenue by Crop • Maʦjor Producer of Graʦins aʦnd Oilseeds – 230,000 hectaʦres in production Other 4% Soyaʦ5% Wheaʦt33% • Sigʦnifi caʦnt Investments into Baʦrley7% Maʦchinery Fleet aʦnd Storaʦgʦe Sugʦaʦr beet8% Infraʦstructure Undertaʦken – Laʦrgʦe staʦte of the aʦrt maʦchinery fleet Oilseed raʦpe9% – 500,000 tons of totaʦl storaʦgʦe caʦpaʦcity1 Corn 12% Sunflower 22% D3: Haʦrvest Areaʦ, thousaʦnd hectaʦres D4: Commerciaʦl Haʦrvest, thousaʦnd tons 250 900 231 224 222 800 790 200 700 183 180 600 618 150 500 506 499 400 100 300 223 50 200 100 0 0 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 * The USD equivaʦlent fi gʦures aʦre provided for informaʦtion purposes only aʦnd do not form paʦrt of the consolidaʦted fi naʦnciaʦl staʦtements – refer to note 2(d). 3 2013 in Brief • Agʦriculturaʦl Commodity Prices drop in 2013 from 2012 higʦhs – Globaʦl aʦnd Russiaʦn production aʦbundaʦnce depress gʦraʦin prices – BEF’s aʦveraʦgʦe blended 2013 crop price decreaʦsed 23% y-o-y D1: Averaʦgʦe BEF Crop Price (Haʦrvest Yeaʦr), USD*/ton D2: Jaʦnuaʦry 2009–December 2013 Wheaʦt Price Development, USD per ton 350 Averaʦgʦe Crop Price 400 Internaʦtionaʦl (MATIF) Russiaʦn Export (FOB) Ex. Sugʦaʦr Beets Russiaʦn 300 350 Domestic (CBE) 250 300 200 250 150 200 100 150 50 100 0 50 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 • Improvements to Crop Yields, Logʦistics aʦnd Saʦles aʦnd Maʦrketingʦ – Blended aʦveraʦgʦe crop yield excludingʦ sugʦaʦr beets increaʦsed 14% yeaʦr-on-yeaʦr – Record haʦrvest aʦnd saʦles volumes of 789 aʦnd 715 thousaʦnd tons respectively – Chaʦllengʦingʦ haʦrvestingʦ conditions aʦdversely impaʦcted laʦte crop yields aʦnd quaʦlity – Totaʦl costs per ton down –11% y-o-y D3: Historic Crop Yield Development, tons per hectaʦre D4: 2009–2013 Production, Saʦles aʦnd Inventory, thousaʦnd tons 4.0 Averaʦgʦe Blended Crop Yield 900 Commerciaʦl Haʦrvest End of Period Inventory Ex. Sugʦaʦr Beet & Potaʦto Volumes sold 3.5 800 700 3.0 600 2.5 500 2.0 400 1.5 300 1.0 200 0.5 100 0 0 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 * The USD equivaʦlent fi gʦures aʦre provided for informaʦtion purposes only aʦnd do not form paʦrt of the consolidaʦted fi naʦnciaʦl staʦtements – refer to note 2(d). 4 • Full Yeaʦr Net Loss of USD* –44.7 million for 2013 – Operaʦtingʦ loss of USD* –29.8 million vs.
Load more

Recommended publications
  • Complete Proposal
    Documentation to be presented at the Annual General Meeting of TELE2 AB (publ) Wednesday 10 May 2006 Agenda for the Annual General Meeting of Tele2 AB (publ) Wednesday 10 May 2006 at 1.30 p.m. CET at the Skandia cinema, Drottninggatan 82, in Stockholm. Proposed agenda 1. Election of Chairman of the Meeting. 2. Preparation and approval of the voting list. 3. Approval of the agenda. 4. Election of one or two persons to check and verify the minutes. 5. Determination of whether the Meeting has been duly convened. 6. Presentation of the annual report and auditors’ report and of the consolidated financial statements and the auditors’ report on the consolidated financial statements. 7. Resolution on the adoption of the income statement and balance sheet and of the consolidated income statement and the consolidated balance sheet. 8. Resolution on the proposed treatment of the company’s unappropriated earnings or accumulated loss as stated in the adopted balance sheet. 9. Resolution on the discharge of liability of the directors of the Board and the Chief Executive Officer. 10. Determination of the number of directors of the Board. 11. Determination of the remuneration to the Board of Directors and the auditor. 12. Election of the directors of the Board. 13. Approval of the procedure of the Nomination Committee. 14. Resolution on a policy on remuneration and other terms of employment for senior executives. 15. Resolution on an offer on reclassification of Class A shares into Class B shares. 16. Resolution to authorise the Board of Directors to resolve on the purchase and transfer of the company’s own shares.
    [Show full text]
  • Purchase and Sales by Report Date Composite
    Purchase and Sales by Report Date Composite July 1, 2013 to July 31, 2013 View Date: August 8, 2013 Funds Included in Composite NJBD COMMON D EMERGING NJBU COMMON D DEVELOPED NJDE COMMON D DEVELOPED PASSIVE NJDO COMMON D DEVELOPED ETFS NJDU COMMON D HEALTHCARE NJDV COMMON D TECHNOLOGY NJDZ COMMON D OAC NJEA COMMON D EMERGING MORGAN STNLY NJEB COMMON D EMERGING LAZARD NJED COMMON D EMERGING PICTET NJEM COMMON D EMERGING WELLINGTON Page 1 Prepared by State Street Purchase Report by Report Date Composite July 1, 2013 to July 31, 2013 View Date: August 8, 2013 Base Currency: USD - US DOLLAR Asset ID Security Name/Description Trd Date Stl Date Fail Days Broker Name Stl Cur/Loc Comm Per Shr Shares/Par/Contracts Exchange Rate Fund Price Interest Commissions Taxes/Fees/Other Net Cost Units/Original Face CASH EQUIVALENTS US DOLLAR 85749P9B9 STATE STR INSTL LIQUID RESVS 0.093% 31 Dec 2099 01 Jul 2013 01 Jul 2013 STATE STREET BANK AND TRUST USD/CSW 744,135.040 1.000000 NJEM Local 100.000000 0.00 0.00 0.00 744,135.04 Base 100.000000 0.00 0.00 0.00 744,135.04 85749P9B9 STATE STR INSTL LIQUID RESVS 0.093% 31 Dec 2099 01 Jul 2013 01 Jul 2013 STATE STREET BANK AND TRUST USD/CSW 592,948.130 1.000000 NJEA Local 100.000000 0.00 0.00 0.00 592,948.13 Base 100.000000 0.00 0.00 0.00 592,948.13 85749P9B9 STATE STR INSTL LIQUID RESVS 0.093% 31 Dec 2099 01 Jul 2013 01 Jul 2013 STATE STREET BANK AND TRUST USD/CSW 478,031.100 1.000000 NJEB Local 100.000000 0.00 0.00 0.00 478,031.10 Base 100.000000 0.00 0.00 0.00 478,031.10 85749P9B9 STATE STR INSTL LIQUID RESVS
    [Show full text]
  • Law Enforcement Disclosure Report
    Law Enforcement Disclosure Report Millicom Law Enforcement Disclosure Report 2017 Millicom Law Enforcement Disclosure Report 2017 1. Introduction 02 2. Reporting at Millicom 04 What’s inside 3. Our internal policies, guidelines, and governance 06 4. Our engagement 08 this report... 5. South America: 10 a. Overview b. Legal frameworks c. Requests from law enforcement in 2017 6. Central America: 12 a. Overview b. Legal frameworks c. Requests from law enforcement in 2017 7. Africa: 14 a. Overview b. Legal frameworks c. Requests from law enforcement in 2017 8. Case Study 16 9. Major Events in 2017 17 a. Shutdowns b. Proposals for significant changes in operational procedures or local laws c. Other events 10. Trends and priorities for 2018 21 Millicom Law Enforcement Disclosure Report 2017 1 1. Introduction This is Millicom’s third Law Enforcement Disclosure (LED) report, covering the year 2017. It serves to provide information about the extent and context of our interaction with law enforcement agencies and governments relating to issues that affect the privacy or freedom of expression of our customers in Latin America and Africa. Since the advent of WikiLeaks and the Edward In March 2017 Millicom, together with six other Snowden information leaks, there has been telecommunications companies, announced its ever increasing scrutiny in the public domain on membership of the Global Network Initiative the topics of privacy and freedom of expression (GNI). This organization, which now has over in the digital age. Indeed, ongoing dialogue 50 members, brings together technology with our stakeholders informs us that these companies, ethical investors, academics and topics are among the most material corporate human rights organizations to work jointly on responsibility issues for stakeholders.
    [Show full text]
  • Biography of Jan Stenbeck - Google Search
    biography of jan stenbeck - Google Search Sign in All Images News Videos Maps More Settings Tools About 24 700 results (0,52 seconds) Career. Stenbeck was born in Stockholm, Sweden, the youngest son of business lawyer Hugo Stenbeck (1890–1977) and his wife Märtha (née Odelfelt; 1906–1992). ... Control of the group was passed to his daughter Cristina Stenbeck after his death of a heart attack. Jan Stenbeck - Wikipedia https://en.wikipedia.org/wiki/Jan_Stenbeck Biography About Featured Snippets Feedback Jan Hugo Robert Arne Stenbeck was a Swedish business leader, media Jan Stenbeck - Wikipedia pioneer, sailor and financier. He was https://en.wikipedia.org/wiki/Jan_Stenbeck head of Kinnevik Group from 1976 and Career. Stenbeck was born in Stockholm, Sweden, the youngest son of business lawyer Hugo founded among other things the Stenbeck (1890–1977) and his wife Märtha (née Odelfelt; 1906–1992). ... Control of the group companies Comviq, Invik & Co AB, was passed to his daughter Cristina Stenbeck after his death of a heart attack. Tele2, Banque Invik, Millicom, Modern Born: Jan Hugo Robert Arne Stenbeck; 14 Died: 19 August 2002 (aged 59); Paris, Times Group and NetCom Systems. Nov... France Wikipedia Born: November 14, 1942, Stockholm Jan Stenbeck – Wikipedia Died: August 19, 2002, American https://sv.wikipedia.org/wiki/Jan_Stenbeck Translate this page Hospital of Paris, Neuilly-sur-Seine, Jan Stenbeck var yngste son till affärsadvokaten Hugo Stenbeck (1890–1977) och dennes France hustru Märta, född Odelfelt (1906–1992). Efter studentexamen vid ... Spouse: Merrill McLeod (m. Föräldrar: Hugo Stenbeck; Märta Odelfelt Styrelse- ledamot i: Investment AB Kinnevik, In..
    [Show full text]
  • Millicom International Cellular S.A
    PRESS RELEASE New York and Stockholm – 25 May, 2010 MILLICOM INTERNATIONAL CELLULAR S.A. ANNUAL GENERAL MEETING OF SHAREHOLDERS New York and Stockholm, 25 May 2010 – Millicom International Cellular S.A. (“Millicom”) (Nasdaq Stock Market: MICC and Stockholmsbörsen: MIC) today held its Annual General Meeting ("AGM") of shareholders in Luxembourg. The AGM resolved to allocate USD 52,643 of the USD 620,581,503 profit generated in 2009 to the legal reserves in accordance with the requirements of Luxembourg Law, and to distribute approximately USD 652 million as a dividend, corresponding to a gross dividend amount of US $6 per share. The AGM also resolved to re-elect Ms Maria Brunell Livfors, Ms Donna Cordner, Mr Daniel Johannesson, Mr Michel Massart, Mr Allen Sangines-Krause and Mr Paul Donovan as Non-Executive Directors and to elect Mr Omari Issa and Mr Hans Holger Albrecht as new Non-Executive Directors of the Company. Mr Omari Issa, born 1947, is the CEO of Investment Climate Facility for Africa. He is a Tanzanian citizen who is responsible for managing the ICF's seven year program to improve Africa's investment climate and remove barriers to growth. Mr Issa has extensive business experience in the public and private sectors, having worked in both Africa and abroad. He has first hand experience of the realities of doing business in Africa, having previously worked as Executive Director and Chief Operating Officer of Celtel International, where he played an instrumental role in managing the company's growth and expansion across the continent. Prior to working at Celtel, Mr Issa spent fourteen years with the IFC and six years with the World Bank.
    [Show full text]
  • Empowering Societies Innovation Moments Millicom Annual Report 2014 1 1 Millicom Annual Report 2014 Millicom Annual Report 2014 1 Overview
    Millicom International Cellular S.A. Annual Report 2014 Annual Report 2014 Empowering Societies Innovation Moments Millicom Annual Report 2014 1 1 Millicom Annual Report 2014 Millicom Annual Report 2014 1 Overview About us Overview About us MillicomMillicom is is a a leading leading international international telecommunicationstelecommunications and and media media companycompany dedicated dedicated to to emerging emerging marketsmarkets in in Latin Latin America America and and Africa.Africa. We We empower empower a a digital digital lifestylelifestyle by by offering offering communication, communication, information and entertainment Strategy information and entertainment Strategy whichwhich connect connect people people to to their their world. world. Operating under the Tigo brand in 14 countries,Operating Millicom under the offers Tigo innovative brand in 14and customer-centriccountries, Millicom products. offers innovativeMillicom employs and 23,297customer-centric people and products.provides mobile, Millicom cable, employs satellite,23,297 peoplebroadband and providesand mobile mobile, financial cable, servicessatellite, to broadband over 56 million and customersmobile financial in mobileservices and to five over million 56 million revenue-generating customers in mobile and five million revenue-generating Performance units in cable, with 5.6 million HFC Performance homesunits inpassed. cable, with 5.6 million HFC homes passed. Financial highlights Revenue (US$m) EBITDA (US$m) (reported figures) 6,386 5,159 4,814 2,092 2,065 2,093
    [Show full text]
  • College Retirement Equities Fund
    SECURITIES AND EXCHANGE COMMISSION FORM N-Q Quarterly schedule of portfolio holdings of registered management investment company filed on Form N-Q Filing Date: 2010-05-27 | Period of Report: 2010-03-31 SEC Accession No. 0000930413-10-003160 (HTML Version on secdatabase.com) FILER COLLEGE RETIREMENT EQUITIES FUND Mailing Address Business Address 730 THIRD AVE 730 THIRD AVE CIK:777535| IRS No.: 136022042 | State of Incorp.:NY | Fiscal Year End: 1231 NEW YORK NY 10017 NEW YORK NY 10017 Type: N-Q | Act: 40 | File No.: 811-04415 | Film No.: 10861628 2129164905 Copyright © 2012 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number File No. 811-4415 COLLEGE RETIREMENT EQUITIES FUND (Exact name of Registrant as specified in charter) 730 Third Avenue, New York, New York 10017-3206 (Address of principal executive offices) (Zip code) Stewart P. Greene, Esq. c/o TIAA-CREF 730 Third Avenue New York, New York 10017-3206 (Name and address of agent for service) Registrants telephone number, including area code: 212-490-9000 Date of fiscal year end: December 31 Date of reporting period: March 31, 2010 Copyright © 2012 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Item 1. Schedule of Investments. COLLEGE RETIREMENT EQUITIES FUND - Stock Account COLLEGE RETIREMENT EQUITIES FUND STOCK ACCOUNT SCHEDULE OF INVESTMENTS (unaudited) March 31, 2010 MATURITY VALUE PRINCIPAL ISSUER RATE RATING DATE (000) BONDS - 0.0% CORPORATE BONDS - 0.0% HOLDING AND OTHER INVESTMENT OFFICES - 0.0% $ 100,000,000 j Japan Asia Investment Co Ltd 0.000% 09/26/11 NR $ 535 22,970 Kiwi Income Property Trust 8.950 12/20/14 NR 17 TOTAL HOLDING AND OTHER INVESTMENT OFFICES 552 Copyright © 2012 www.secdatabase.com.
    [Show full text]
  • COMCEL TRUST (A Cayman Islands Trust) 6.875% Senior Notes Due 2024 Guaranteed by Comunicaciones Celulares, S.A
    OFFERING MEMORANDUM CONFIDENTIAL US$800,000,000 COMCEL TRUST (a Cayman Islands Trust) 6.875% Senior Notes due 2024 guaranteed by Comunicaciones Celulares, S.A. and the other Note Guarantors named herein The 6.875% senior notes due 2024 offered hereby (the “Notes”) are being issued by Intertrust SPV (Cayman) Limited (the “Cayman Trustee”) acting as trustee of Comcel Trust (the “Trust”) established pursuant to a Declaration of Trust dated January 8, 2014 (the “Declaration of Trust”). The net proceeds obtained from the sale of the Notes will be used by the Cayman Trustee to acquire as an asset of the Trust, pursuant to a Participation Agreement (the “Participation Agreement”) between the Cayman Trustee and Credit Suisse AG, Cayman Islands Branch (the “Lender”), a 100% participation interest (the “Participation”) in a US$800,000,000 senior unsecured loan (the “Loan”) made by the Lender to Comunicaciones Celulares, S.A. (“Comcel” or the “Borrower”), a stock corporation (sociedad anónima) organized under the laws of the Republic of Guatemala, pursuant to a Credit and Guaranty Agreement (the “Credit and Guaranty Agreement”) among the Lender, the Borrower, and Comunicaciones Corporativas, S.A., Distribuidora Central de Comunicaciones, S.A., Distribuidora de Comunicaciones de Occidente, S.A., Distribuidora de Comunicaciones de Oriente, S.A., Distribuidora Internacional de Comunicaciones, S.A., Navega.com, S.A., Servicios Especializados en Telecomunicaciones, S.A. and Servicios Innovadores de Comunicación y Entretenimiento, S.A., affiliates of Comcel, as guarantors (together, the “Loan Guarantors”) (such guarantees, the “Loan Guarantees”). The principal asset of the Trust is the Participation and certain related rights described herein.
    [Show full text]
  • Millicom International Cellular S.A. Tele2 Ab
    MILLICOM INTERNATIONAL CELLULAR S.A. TELE2 AB FOR IMMEDIATE RELEASE October 31, 2001 MILLICOM INTERNATIONAL CELLULAR AND TELE2 AB CONFIRM DISCUSSIONS REGARDING THE POSSIBLE SALE OF MILLICOM’S RUSSIAN ASSETS TO TELE2 New York, Stockholm and Luxembourg – October 31, 2001 – Millicom International Cellular S.A (“MIC”) (Nasdaq Stock Market: MICC) and Tele2 AB (“Tele2”) (Nasdaq Stock Market: TLTOA and TLTOB and Stockhomsbörsen: TEL2A and TEL2B) today confirm, in response to questions raised by investors, that discussions between Tele2 AB and MIC are ongoing regarding the possible sale of MIC’s Russian cellular telephony assets to Tele2. MIC sold its cellular telephony business in Estonia to Tele2 in 1998. During these negotiations the two parties discussed the sale of MIC’s Russian assets but, at that time, decided not to proceed as Tele2 wished first to focus on building its Baltic operations. Tele2’s investment in the Baltics has been very successful and now the possible expansion into Russia is a logical step, which would bring a total of 124,000 proportional subscribers. Lars-Johan Jarnheimer, CEO of Tele2 AB said: “It is no secret that our Scandinavian competitors have made clear their intentions to develop mobile businesses in Russia to leverage on the increasing opportunities in this market, Telia combining with Sonera and Telenor through Vimpelcom. We believe that the opportunity to purchase MIC’s Russian assets is a natural step in order to establish our position in this growth market following on from our successes in the Baltics.” MIC and Tele2 have appointed Bank of America and Carnegie respectively as advisors.
    [Show full text]
  • Annual Report 2017 Digital Connectivity for Tomorrow’S World…
    Digital connectivity for tomorrow’s world… Millicom Annual Report 2017 Digital connectivity for tomorrow’s world… We are a leading provider of cable and mobile services dedicated to emerging markets. We operate under the Tigo® brand in eight countries across Latin America and three in Africa. We set the pace when it comes to providing high-speed broadband, innovative services and our trademark The Digital Lifestyle® to more than 50 million customers. Our purpose is to build the digital highways that connect people, improve lives and develop our communities. Our mission is to provide the best, most secure digital highways to be the first choice for customers in all our markets. For further information on Millicom’s results, please refer to our Reporting Center: www.millicom.com/investors/ Millicom Annual Report 2017 Overview Overview Millicom at a glance 02 What’s inside Our year in numbers 03 Chairman’s statement 04 Market overview 08 this report… Our business model 10 Strategy Chief Executive Officer’s statement 12 Integrated reporting Our strategy 14 Strategy Measuring progress against strategy 15 This is our second integrated Annual Report that combines our corporate responsibility and financial reports to provide all our stakeholders Performance with a clear and comprehensive overview of Chief Financial Officer’s review 17 our business. It reflects both the strong social Risk management 25 and economic impact of our products and How we are doing in Latin America 30 services on the communities we serve, and our How we are doing in Africa 38 responsible business practices throughout our Growing responsibly and with purpose 44 operations.
    [Show full text]
  • Information to Shareholders in Investment AB Kinnevik (Publ) Prior to the Extraordinary General Meeting to Be Held on 11 May 2009
    Information to shareholders in Investment AB Kinnevik (publ) prior to the Extraordinary General Meeting to be held on 11 May 2009 Acquisition of Emesco AB Table of Contents Background and Reasons for the Transaction............................................................................... 3 Emesco................................................................................................................................................ 4 The Transaction ................................................................................................................................. 5 Effects of the Transaction on Kinnevik ........................................................................................... 7 Summary of the Transaction Agreement......................................................................................... 9 Fairness Opinions............................................................................................................................ 13 Extraordinary General Meeting, 11 May 2009 The Board of Directors of Investment AB Kinnevik (publ) (“Kinnevik”) proposes that the shareholders in Kinnevik at the Extraordinary General Meeting (“EGM”) to be held on Monday 11 May 2009 at 11.00 am CET after the Annual General Meeting (“AGM”), approves the acquisition of all shares in Emesco AB (“Emesco”). For information regarding participation at the EGM, see the notice to the EGM available at www.kinnevik.se. This information brochure has been prepared to provide information for the shareholders in Kinnevik
    [Show full text]
  • Investment AB Kinnevik
    Investment AB Kinnevik Skeppsbron 18 (Publ) Reg no 556047-9742 P.O. Box 2094 Phone +46 8 562 000 00 SE-103 13 Stockholm Sweden Fax +46 8 20 37 74 www.kinnevik.se BOKSLUTSKOMMUNIKÉ 2007 Finansiell utveckling under fjärde kvartalet • Marknadsvärdet på koncernens aktier i Noterade Kärninnehav steg med 6.241 Mkr och uppgick per 31 december till 50.761 Mkr. • Korsnäs intäkter uppgick till 1.821 (1.722) Mkr. • Rörelseresultatet för Korsnäs var 7 (78) Mkr (jämförelsetal exklusive omstruktureringskostnader). • Koncernens totala intäkter uppgick till 1.873 (1.767) Mkr och rörelseresultatet var -5 (-124) Mkr. • Resultat efter skatt, inklusive förändring i verkligt värde av finansiella tillgångar, uppgick till 6.647 (9.192) Mkr. • Resultat per aktie uppgick till 25,18 (34,82) kronor. Händelser under fjärde kvartalet • Koncernen deltog i Black Earth Farmings nyemission. Kinnevik ägde vid årets utgång 20% av bolaget. Finansiell utveckling under 2007 • Marknadsvärdet på koncernens aktier i Noterade Kärninnehav ökade med 14.606 Mkr, motsvarande 40%, till 50.761 Mkr den 31 december. • Korsnäs intäkter ökade med 5% till 7.519 (7.134) Mkr (jämförelsetal proforma inklusive Frövi). • Rörelseresultatet för Korsnäs var 836 (865) Mkr (jämförelsetal proforma inklusive Frövi, exklusive omstruktureringskostnader). • Koncernens totala intäkter uppgick till 7.673 (6.305) Mkr och rörelseresultatet var 885 (478) Mkr. • Resultat efter skatt, inklusive förändring i verkligt värde av finansiella tillgångar, uppgick till 16.179 (11.549) Mkr. • Resultat per aktie uppgick till 61,29 (43,74) kronor. • Styrelsen föreslår att årsstämman beslutar om en kontantutdelning om 2,00 (1,70) kronor per aktie. Därutöver avser styrelsen att rekommendera till Kinneviks årsstämma som hålls den 15 maj att besluta om ett förnyat mandat att återköpa maximalt 10% av bolagets egna aktier.
    [Show full text]