Mcdonald's Corp : Mcdonald's announces second quarter strategic charges . Plans to refranchise 4,000 restaurants by end of 2018 . Company expects to incur additional strategic charges in connection with these ongoing initiatives . Mcdonald's announced that for quarter ended June 30, 2016 , company expects to incur approximately $235 million in pretax charges . Plans net G&A savings target of $500 million , vast majority of which is expected to be realized by end of 2017 .To incur about $0.20 per share on an after-tax basis for quarter ended June 30, 2016 , consisting primarily of non-cash impairment charges.
Kotipizza Group Oyj : Kotipizza's Marketing Co-operative changes into Franchisee Co-operative . Change is going to have financial effect on Kotipizza Group . Funds collected for Kotipizza's countrywide marketing, 4 percent of sales of Kotipizza chain, are going to be invoiced to the Kotipizza segment starting July 1, 2016 . This will grow segment's, and thus group's turnover without affecting profit, but will have an effect on relative profitability .In 2015, Marketing Co-operative had a turnover of about 3.2 million euros ($3.6 million).
P99 Holdings Ltd : Entered into a letter of intent with chip eng seng corporation ltd . Entered into a letter of intent with chan tuck cheong and yang yongbo . Loi in respect of proposed issuance by the company of 505 million new ordinary shares to the subscriber . Aggregate subscription consideration for the proposed subscription is s$49.7 million . Loi with chan tuck regarding acquisition of capital of Fujian hubang building materials technology and quanzhou yongbang investment and management . Says "intends to expand its current business to include the proposed acquisition and the property business" . Says plans to restrict the property business to certain geographical markets which include Vietnam, myanmar, and the prc .
ROYAL HOLDINGS Co Ltd:Says its wholly owned Osaka-based subsidiary engaged in preparation of in-flight meal for Kansai International Airport to merge with its wholly owned Fukuoka-based subsidiary engaged in preparation of in-flight meal for Fukuoka Airport and Naha Air Station, effective on July 1.Says the Fukuoka-based subsidiary to be dissolved after the transaction.
Bob Evans Farms:Announces closure of 27 restaurants.Expects proceeds of approximately $20 million from sale of the owned properties.Although restaurants subject to closure generated $30 million of annual revenue, this action is expected to improve annual operating income by approximately $1 million.Company estimates it will incur $7.5 to $8.0 million of expenses related to the closures.Expenses will be classified as non-GAAP items, and will be reflected in fiscal 2016 fourth-quarter results.
Kourakuen Holdings Corp:To dissolve subsidiary KOURAKUEN(THAILAND) CO.,LTD.
OHSHO FOOD SERVICE CORP:Dissolved a China-based subsidiary DALIAN OHSHO FOOD SERVICE CO., LTD., with liquidation completion date March 3.
Toridoll corp:To restructure the company into a holding company.To set up a new preparation subsidiary in late March.To transfer business to the new subsidiary, effective Oct. 1.
Bojangles Inc:Bojangles' appoints Starlette Johnson to board of directors.Bojangles' board of directors now consists of ten members, up from nine members previously.
Ootoya Holdings Co Ltd:To dissolve a wholly owned subsidiary, which has been engaged in operating of stores in Shanghai, China.Liquidation is expected to be completed in March 31.