Latest news with #exclusivity
Bloomberg
6 days ago
- Business
- Bloomberg
Corning Dodges EU Antitrust Clash With ‘Gorilla Glass' Deal
Corning Inc. has avoided the threat of European Union antitrust fines, after it agreed to end exclusivity terms in its supply contracts for break-resistant smartphone screens that the watchdog deemed to be anticompetitive. The European Commission said in a statement on Friday that the US glass firm had agreed to 'waive all exclusive dealing clauses in all its current agreements' in order to allay EU concerns.
Daily Mail
13-07-2025
- Business
- Daily Mail
EXCLUSIVE Life on 'tyrannical' millionaires' island: Exclusive club where pampered elite are too terrified to speak out... until now
There's a 216-acre artificial paradise off the coast of Miami that markets itself as 'an indulgent retreat for those who appreciate the ultimate in privacy and exclusivity.' Accessible only by helicopter or boat, and with an average price tag of $7.2 million a home, when residents step onto the rarified sands of Fisher Island, they do so safe in the satisfying knowledge that they just entered the wealthiest zip code in America.
Associated Press
01-07-2025
- Business
- Associated Press
Mkango Resources Limited Announces Extension of Exclusivity with Crown PropTech
Mkango Announces Extension of Exclusivity Period to 3rd July 2025 in Relation to the Proposed Business Combination with Crown PropTech Acquisitions LONDON, GB AND VANCOUVER, BC / ACCESS Newswire / July 1, 2025 / Mkango Resources Ltd (AIM/TSX-V:MKA) ('Mkango') announced today that it, its wholly owned subsidiary, Lancaster Exploration Limited ('Lancaster') and certain other wholly-owned subsidiaries of Mkango (together with Lancaster, 'Lancaster Group'), have agreed to extend the exclusivity period associated with a non-binding letter of intent ('LOI') to enter into a definitive business combination agreement (the 'Business Combination Agreement') with Crown PropTech Acquisitions, a Cayman Islands exempted company (OTC: CPTKW) ('CPTK'). The LOI, which was entered into on 7 January 2025 and amended on each of 23 March 2025, 29 April 2025, and 22 May 2025, contained an exclusivity provision through 30 June 2025, during which time Lancaster Group and CPTK agreed they would not engage in discussions or negotiations with any third party regarding alternative transactions to the proposed merger contemplated by the Business Combination Agreement (the 'Proposed Business Combination'). Pursuant to the latest LOI amendment, dated 30 June 2025, Lancaster Group and CPTK extended the exclusivity provision through 3 July 2025 (the 'Exclusivity Expiration Date') in order to provide additional time for the parties to complete negotiation of certain documents ancillary to the Business Combination Agreement. About Mkango Resources Ltd. Mkango is listed on AIM and the TSX Venture Exchange. Mkango's corporate strategy is to become a market leader in the production of recycled rare earth magnets, alloys and oxides, through its interest in Maginito Limited ('Maginito'), which is owned 79.4 per cent by Mkango and 20.6 per cent by CoTec Holdings Corp ('CoTec'), and to develop new sustainable sources of neodymium, praseodymium, dysprosium and terbium to supply accelerating demand from electric vehicles, wind turbines and other clean energy technologies. Maginito holds a 100 per cent interest in HyProMag Limited ('HyProMag') and a 90 per cent direct and indirect interest (assuming conversion of Maginito's convertible loan) in HyProMag GmbH, focused on short loop rare earth magnet recycling and manufacturing in the UK and Germany, respectively, and a 100 per cent interest in Mkango Rare Earths UK Ltd ('Mkango UK'), focused on long loop rare earth magnet recycling in the UK via a chemical route. Commissioning of the short loop rare earth magnet recycling and manufacturing plant at Tyseley Energy Park in Birmingham, UK, is underway. Mkango will provide a further update to the market in due course. Maginito and CoTec are also rolling out HyProMag's recycling technology into the United States via the 50/50 owned HyProMag USA LLC joint venture company. Mkango also owns the advanced stage Songwe Hill Rare Earth project, a rare earths, uranium, tantalum and niobium exploration portfolio in Malawi ('Songwe Hill'), as well as the Pulawy Rare Earth's separation project in Poland ('Pulawy'). These projects are the subject of the Proposed Business Combination. Songwe Hill is one of the few rare earth projects to have advanced to the NI 43-101 compliant DFS. Pulawy, located in a Special Economic Zone in Poland, stands adjacent to the EU's second largest manufacturer of nitrogen fertilisers, and features established infrastructure, access to reagents and utilities on site. For more information, please visit About Crown PropTech Acquisitions (CPTK) CPTK is a Cayman Islands exempted company incorporated in 2021 as a special purpose acquisition company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, with approximately $5.6 million cash in trust. Market Abuse Regulation (MAR) Disclosure The information contained within this news release is deemed by Mkango to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain. Additional Information and Where to Find It If a definitive agreement is entered into in connection with the Proposed Business Combination, Lancaster and CPTK will prepare a registration statement, including a proxy statement/prospectus, to be filed with the SEC. The proxy statement/prospectus will be mailed to CPTK's shareholders. CPTK urges investors and other interested persons to read, when available, the proxy statement/prospectus, as well as other documents filed with the SEC, because these documents will contain important information about the Proposed Business Combination. Such persons can also read CPTK's filings with the SEC for a description of the security holdings of its officers and directors and their respective interests as security holders in the consummation of the transactions described herein. The proxy statement statement/prospectus, once available, can be obtained, without charge, at the SEC's web site at Cautionary Note Regarding Forward-Looking Statements This news release contains forward-looking statements (within the meaning of that term under applicable securities laws) with respect to Mkango, Lancaster Group, CPTK, their businesses and the Proposed Business Combination. Generally, forward looking statements can be identified by the use of words such as 'targeted', 'plans', 'expects' or 'is expected to', 'scheduled', 'estimates' 'intends', 'anticipates', 'believes', or variations of such words and phrases, or statements that certain actions, events or results 'can', 'may', 'could', 'would', 'should', 'might' or 'will', occur or be achieved, or the negative connotations thereof. Forward looking statements in this news release include, but are not limited to, statements with respect to CPTK's successor entity being listed on NASDAQ, and the Proposed Business Combination. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. Such factors and risks include, without limiting the foregoing, whether the Business Combination Agreement will be executed, whether NASDAQ will approve the listing of shares of Lancaster, the availability of (or delays in obtaining) financing to develop Songwe Hill and the recycling plants in the UK, Germany and the United States as well as Pulawy, geological, technical and regulatory matters relating to the development of Songwe Hill, governmental action and other market effects on global demand and pricing for the metals and associated downstream products for which Mkango or Lancaster is exploring, researching and developing, the ability to scale the HPMS and chemical recycling technologies to commercial scale, competitors having greater financial capability and effective competing technologies in the recycling and separation business of Maginito and Mkango, availability of scrap supplies for recycling activities, government regulation (including the impact of environmental and other regulations) on and the economics in relation to recycling and the development of the various recycling and separation plants of Mkango and Maginito and future investments in the United States pursuant to the cooperation agreement between Maginito and CoTec, the outcome and timing of the completion of feasibility studies for Songwe Hill, cost overruns, complexities in building and operating Songwe Hill and the Pulawy, the positive results of feasibility studies on the various proposed aspects of Mkango's and Maginito's activities, and delays in obtaining financing or governmental or stock exchange approvals and other risks that are detailed in the periodic reports filed by CPTK with the SEC. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by applicable law, each of Mkango, CPTK and Lancaster disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, each of Mkango, CPTK and Lancaster undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. Participants in the Solicitation Lancaster and CPTK and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of CPTK's shareholders in connection with the Proposed Business Combination. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of CPTK's directors and officers in CPTK's SEC filings. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to CPTK's shareholders in connection with the Proposed Business Combination will be set forth in the proxy statement/prospectus for the Proposed Business Combination when available. Information concerning the interests of Lancaster's and CPTK's participants in the solicitation, which may, in some cases, be different than those of their respective equityholders generally, will be set forth in the proxy statement/prospectus relating to the Proposed Business Combination when it becomes available. No Offer or Solicitation This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the Proposed Business Combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. For further information on Mkango, please contact: Mkango Resources Limited William Dawes Chief Executive Officer [email protected] Canada: +1 403 444 5979 @MkangoResources Alexander Lemon President [email protected] SP Angel Corporate Finance LLP Nominated Adviser and Joint Broker Jeff Keating, Jen Clarke, Devik Mehta UK: +44 20 3470 0470 Alternative Resource Capital Joint Broker Alex Wood, Keith Dowsing UK: +44 20 7186 9004/5 Cohen Capital Strategic and Financial Adviser Brandon Sun USA: +1 929 432 1254 Welsbach Corporate Solutions LLC-FZ Supply Chain Advisor Daniel Mamadou SG: +65 6879 7107 For further information on CPTK, please contact: Crown PropTech Acquisitions Michael Minnick Chief Executive Officer [email protected] The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, or a recommendation to purchase, any securities in any jurisdiction, or the solicitation of any vote, consent or approval in any jurisdiction in connection with or with respect to the Proposed Business Combination, nor shall there be any sale, issuance or transfer of any securities in any jurisdiction where, or to any person to whom, such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. This press release does not constitute either advice or a recommendation regarding any securities. No offering of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit SOURCE: Mkango Resources Ltd. press release
Associated Press
29-06-2025
- Business
- Associated Press
How Leclerc & Co. Is Redefining Affordable Luxury in the Watch Industry
In a market flooded with mass-produced designs and influencer-driven hype, a new contender is emerging - and doing it differently. WAN CHAI, HONG KONG / ACCESS Newswire / June 28, 2025 / Leclerc & Co, a rising direct-to-consumer watch brand, is setting a new standard for what it means to own a luxury piece without paying five figures - or compromising identity. Founded with a mission to blend timeless watch designs with strategic scarcity, Leclerc & Co has built a loyal fanbase among those who crave refinement without the noise. The brand's limited releases and signature design language echo the presence of old-money elegance - but with accessibility in mind. A spokesperson from the brand shared: 'We create exclusive pieces that people are going to admire on your wrist. We define exclusivity not by inflated price tags, but by intentional scarcity. Our pieces are designed to be affordable - but only a few will ever truly own them.' At the core of Leclerc's rise is a radical shift in how luxury is defined. Leclerc anchors its appeal in authenticity - tight inventory, no excessive branding, and a sharp focus on what actually matters: design, experience, and emotional connection. Each launch is handled like a private release - often selling out within days. Authentic Leclerc & Co pieces are only available through the brand's official website, a move that allows the company to maintain strict control over quality, pricing, and the customer experience - while preserving the brand's air of exclusivity. Discover 'The Date' - Leclerc's Signature Limited Release The latest drop, The Date Collection, represents everything the brand stands for: classic design, everyday elegance, and uncompromising quality. Each dial color is strictly limited to 100 pieces worldwide, reinforcing the idea that true luxury isn't mass-produced - it's quietly owned. Explore the full collection here: Each Leclerc & Co timepiece is hand-polished, meticulously finished, and authenticated with a certificate of provenance. This balance of understated status and affordable pricing is what sets Leclerc apart from the sea of 'affordable luxury' brands. Visit their official website here: Leclerc & Co International 2301, 23/f Bayfield Bldg 99 Hennessy Rd Wan Chai Hong Kong [email protected] Contact Person: Louis Leclerc SOURCE: Leclerc & Co press release
Yahoo
19-06-2025
- Business
- Yahoo
Luxury's $1.7 trillion headache: The sector lost 50 million customers last year and is struggling with selfie-happy Gen Z
Luxury brands are retreating to exclusivity after years of trying to broaden their appeal, but they're now struggling to reconcile that elusiveness with younger consumers' desire to share and express identity online. With the luxury market shrinking—marked by a 3% dip in early 2025 and the loss of around 50 million customers—brands must urgently innovate to maintain relevance, exclusivity, and emotional connection in the social media era. Luxury brands have retreated back to their safe space of exclusivity, having explored new avenues to win customers during COVID. The only problem is, to win and retain the next generation of shoppers they must marry their need to remain elusive with a consumer who wants to share everything online. These companies have no time to waste. According to a spring update on the sector from Bain & Co, the industry is losing speed relatively quickly. The study released Thursday shows the sector's worth was €1.5 trillion ($1.7 trillion) in 2024, though for Q1 of 2025 estimates are shrinkage of 3% compared to last year. Even last year, personal luxury goods was one of the categories which marked the most notable slowdown, knocking from €369 billion in 2023 down to €364 billion in 2024. That marked its first contraction in 15 years—with the notable exception of the pandemic. And the gap between winners and losers in the luxury sector is also growing, added the author's writers Claudia D'Arpizio and Federica Levato. The gap between the top 75th percentile and the bottom 25th percentile performers increased by 1.5 times in Q1 2025 compared to a year earlier, with market leaders continuing to charge ahead while the bottom 20% to 30% of the sector continued to report a reduction in growth. Part of the problem is consumers are wrangling with what Bain & Co describes as the 'value equation'—basically, are they getting enough—be it experience, social and cultural kudos, or workmanship—out of the purchase for the elevated price they are paying? For a 'long period' luxury brands were trying to enlarge their customer base to be more inclusive, D'Arpizio tells Fortune. This was really reinforced in some categories with 'entry items like streetwear, sneakers, and even beauty—all the categories that could have been more relevant for young people, but also with people with less discretionary spending.' That strategy 'overcorrected' she added, with brands overly relying on iconic design or experiences, reducing their pace of innovation and hence, leading consumers to question if their spend is really worth it. 'So last year we had a big loss of customers—around 50 million less customers buying luxury product—in particular in the younger generation, and a big drop on customer advocacy,' D'Arpizio continued. 'What is happening now that the brands are trying to fix that, and trying to reignite this relationship with these customers without losing their exclusivity.' Shifting back to exclusivity is a more difficult ask when younger consumers are known as the social media generation for their propensity to post online. Gone are the days of galas with no cameras, of designer handbag back rooms with no filming allowed: It's all available on a For You Page within moments of ending. 'Luxury has always been about showing off,' D'Arpizio, who is Bain & Co's lead for the global fashion, luxury goods vertical, continued. 'The previous generation was showing off wealth and showing off accomplishments in life, now it's more showing off of your of your personality or your ability to choose your aesthetics, your quality of life. 'There is a big need, in particular in Gen Z, for sharing. This sharing means expressing their personality … but also a desire of conformity. These are two forces that are contradictory but in reality are a big driver for luxury consumption because luxury brands can provide this conformity, but then inside the luxury brand, mixing and matching, choosing your own style, developing your own style, creates your self-expression.' She continued: 'Social media has provided a huge impulse to luxury consumption because the potential of sharing with a larger audience has created both more customers but also in augmentation of their communication strategies and so they have a broader reach. 'So yes, they want to be exclusive, but they know the power of social media.' This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
