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Lee Kum Kee Sauce Group Appoints Ms. Katty Lam as Chief Executive Officer

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HONG KONG SAR – Media OutReach – 1 December 2020 – Lee Kum Kee Sauce Group announces the appointment of Ms. Katty Lam as Chief Executive Officer with effect from today.

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Ms. Katty Lam has over 25 years’ work experience with renowned multinational food companies. Prior to joining Lee Kum Kee, Ms. Lam was Danone’s Regional Vice President, Greater China — Early Life Nutrition Division. Began her career with KPMG as an auditor, Ms. Lam later joined PepsiCo China, with her last position being the Chairman, Greater China Region. During her 22-year tenure with PepsiCo, she served in different management roles in finance, marketing, beverage bottling and foods operations. Ms. Lam holds an MBA from the University of Portland, US, and a bachelor’s degree in Accountancy from the City University of Hong Kong.

Mr. Charlie Lee, Chairman of Lee Kum Kee Sauce Group, welcomed Ms. Lam: “With her extensive experience, Ms. Lam will lead the Group’s overall business strategy and development, strengthen collaboration and drive innovation initiatives to ensure the Group continues to be recognised as a global leader in Asian sauces and condiments. Together, we will work towards our vision of ‘Where there are people there is Lee Kum Kee’.”

ABOUT LEE KUM KEE

Lee Kum Kee was established in 1888 by its founder Mr. Lee Kum Sheung. With its sustainable development in 132 years, Lee Kum Kee has become a household name of sauces and condiments, as well as an international brand and “a symbol of quality and trust”. Spanning over three centuries, Lee Kum Kee is a globally renowned multinational corporation offering over 200 types of sauce and condiment to over 100 countries and regions. Please visit www.LKK.com for further details.

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SHAREHOLDER ALERT: WeissLaw LLP Investigates Kentucky Bancshares, Inc.

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NEW YORK, Jan. 27, 2021 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Kentucky Bancshares, Inc. (“Kentucky Bancshares” or the “Company”) (OTCQX: KTYB) in connection with the proposed merger of the Company with Stock Yards Bancorp, Inc. (“Stock Yards Bancorp”) (NASDAQ: SYBT).  Under the terms of the merger agreement, Stock Yards will acquire Kentucky Bancshares in a mixed cash-and-stock transaction, pursuant to which Kentucky Bancshares shareholders will receive $4.75 in cash and 0.64 shares of Stock Yards Bancorp common stock for each Kentucky Bancshares share that they own, representing implied per-share merger consideration of approximately $32.09 based upon Stock Yards Bancorp's January 26, 2021 closing price of $42.72

If you own Kentucky Bancshares shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

https://www.weisslawllp.com/KTYB/

Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771
[email protected]

WeissLaw LLP is investigating whether Kentucky Bancshares's board acted in the best interest of Kentucky Bancshares's public shareholders in agreeing to the proposed transaction, whether the merger consideration adequately compensates Kentucky Bancshares's shareholders, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to Kentucky Bancshares's public shareholders. 

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]

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SOURCE WeissLaw LLP

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BancorpSouth Bank Declares Quarterly Common & Preferred Dividends

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TUPELO, Miss., Jan. 27, 2021 /PRNewswire/ — At its regular quarterly meeting today, the Board of Directors of BancorpSouth Bank (NYSE: BXS) declared a quarterly cash dividend of $0.19 per share of common stock.  The common stock dividend is payable on April 1, 2021, to shareholders of record at the close of business on March 15, 2021. 

The Board of Directors also declared a quarterly cash dividend of $0.34375 per share of Series A Preferred Stock.  The preferred stock dividend is payable on February 22, 2021, to shareholders of record at the close of business on February 5, 2021.

BancorpSouth earlier reported financial results for the fourth quarter of 2020. Net income available to common shareholders was $66.4 million, or $0.65 per diluted share, and net operating income available to common shareholders – excluding MSR – was $70.8 million, or $0.69 per diluted share.

About BancorpSouth Bank

BancorpSouth Bank (NYSE: BXS) is headquartered in Tupelo, Mississippi, with approximately $24 billion in assets.  BancorpSouth operates approximately 305 full-service branch locations as well as additional mortgage, insurance, and loan production offices in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas, including an insurance location in Illinois.  BancorpSouth is committed to a culture of respect, diversity, and inclusion in both its workplace and communities. To learn more, visit our Community Commitment page at www.bancorpsouth.com; “Like” us on Facebook; follow us on [email protected]; or connect with us through LinkedIn.

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SOURCE BancorpSouth Bank

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FIBRA Prologis Announces Fourth Quarter and Full Year 2020 Earnings Results

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MEXICO CITY, Jan. 27, 2021 /PRNewswire/ — FIBRA Prologis (BMV:FIBRAPL 14), a leading owner and operator of Class-A industrial real estate in Mexico, today reported results for the fourth quarter and full year 2020.

HIGHLIGHTS FROM THE YEAR:

  • Leases commenced were 12.5 million square feet
  • Period-end occupancy was 97.1%
  • Net effective rent on rollovers increased 12.4%
  • Weighted average customer retention was 87.1%
  • Same store cash NOI decreased 4.7%
  • Acquired US$438 million of Class-A properties

Net earnings per CBFI was Ps. 3.2891 (US$0.1576) for the quarter compared with Ps. 0.8332 (US$0.0419) for the same period in 2019. For the full year 2020, net earnings per CBFI was Ps. 4.4111 (US$0.2091).

Funds from operations (FFO) per CBFI as defined by FIBRA Prologis was Ps. 0.8164 (US$0.0380) for the quarter compared with Ps. 0.7465 (US$0.0374) for the same period in 2019. For the full year 2020, FFO per CBFI was Ps.3.5937 (US$0.1663).

STRONG OPERATING RESULTS CONTINUE

“Our 2020 financial and operating performance exceeded our expectations many times over,” said Luis Gutiérrez, CEO, Prologis Property Mexico. “Despite the tragic effects of the global pandemic and its impact on the Mexican economy, we delivered 12.4 percent rent change on rollover and added 5.3 million square feet through accretive acquisitions, enhancing our position in Mexico City, Monterrey Ciudad Juarez and Guadalajara.”

Operating Portfolio

4Q20

4Q19

Notes

Period End Occupancy 

97.1%

97.6%

Four of six markets at or above 97%

Leases Commenced

1.1 MSF

2.7 MSF

78% of leasing activity related to Monterrey and Ciudad Juarez

Customer Retention

72.7%

91.0%

Net Effective Rent Change

10.5%

13.9%

Led by Ciudad Juarez and Mexico City

Same Store Cash NOI

-1.2%

2.5%

Higher concessions, the result of  longer lease terms along with a weaker peso partly offset by higher rents

Same Store NOI

2.5%

3.3%

SOLID FINANCIAL POSITION

At December 31, 2020, FIBRA Prologis' leverage was 29.0 percent and liquidity was Ps. 6.9 billion (US$347.0 million), which included Ps. 6.5 billion (US$325.0 million) of available capacity on its unsecured credit facility and Ps. 434.4 million (US$21.8 million) of unrestricted cash.

“A significant testament to our commitment to ESG, the completion of our $375 million green bond offering bolstered our balance sheet to its strongest level in our history” said Jorge Girault, senior vice president, Finance, Prologis Property Mexico. “With well-laddered maturities, a low debt cost and significant liquidity, we are in solid position to be opportunistic in 2021.”

GUIDANCE ESTABLISHED FOR 2021

(US$ in million, except per CBFI amounts)

FX = Ps$21.5 per US$1.00

Low

High

Notes

FFO per CBFI

US$0.1700

US$0.1750

Excludes the impact of foreign exchange movements and any potential incentive fee

Full Year 2021 Distributions per CBFI

US$0.1075

US$0.1075

Year End Occupancy

95.0%

96.0%

Same Store NOI (Cash)

3.0%

5.0%

Based in U.S. dollars

Annual Capital Expenditures as % of NOI

13.0%

14.0%

Asset Management and Professional Fees

US$23.0

US$25.0

Building Acquisitions

US$100

US$200

Building Dispositions

US$20

US$30

WEBCAST & CONFERENCE CALL INFORMATION

FIBRA Prologis will host a live webcast/conference call to discuss quarterly results, current market conditions and future outlook. Here are the event details:

  • Thursday, January 28, 2021, at 9 a.m. CT/10 a.m. ET.
  • Live webcast at www.fibraprologis.com, in the Investor Relations section, by clicking News & Events.
  • Dial in: +1 833 714-0919 (U.S. and Canada), 01 800 853 0237 (Mexico) or +1 778 560-2663 (all other countries) and enter Passcode 3157918.

A telephonic replay will be available January 28–February 3 at +1 800 585-8367  from the U.S. and Canada or at +1 416 621-4642 from all other countries using conference code 3157918. The replay will be posted in the Investor Relations section of the FIBRA Prologis website.

ABOUT FIBRA PROLOGIS

FIBRA Prologis is a leading owner and operator of Class-A industrial real estate in Mexico. As of December 31, 2020, FIBRA Prologis was comprised of 205 logistics and manufacturing facilities in six industrial markets in Mexico totaling 40.2 million square feet (3.7 million square meters) of gross leasable area.

FORWARD-LOOKING STATEMENTS

The statements in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which FIBRA Prologis operates, management's beliefs and assumptions made by management.  Such statements involve uncertainties that could significantly impact FIBRA Prologis financial results. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature.  All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, acquisition activity, development activity, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust (“FIBRA”) status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments (viii) environmental uncertainties, including risks of natural disasters, (ix) risks related to the coronavirus pandemic, and (x) those additional factors discussed in reports filed with the “Comisión Nacional Bancaria y de Valores” and  the Mexican Stock Exchange by FIBRA Prologis under the heading “Risk Factors.” FIBRA Prologis undertakes no duty to update any forward-looking statements appearing in this release.

Non-Solicitation – Any securities discussed herein or in the accompanying presentations, if any, have not been registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state securities laws. Any such announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein or in the presentations, if and as applicable.

 

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SOURCE FIBRA Prologis

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