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Sunlight Real Estate Investment Trust (“Sunlight REIT”) and Dah Sing Bank jointly announce the naming of Dah Sing Financial Centre

Unveiling of eco-friendly financial service-driven hub in the Wan Chai vicinity

 

HONG KONG SAR – Media OutReach – 8 March 2021 – Henderson Sunlight Asset Management Limited (the “Manager“) and Dah Sing Bank, Limited (the “Bank“) jointly announce that Sunlight Tower, situated at 248 Queen’s Road East, is officially renamed as “Dah Sing Financial Centre” today. This name change marks the transformation of this award winning property into a financial service-driven hub in the Wan Chai vicinity, and represents a significant milestone for both Sunlight REIT and the Bank.

Today is the official naming of Dah Sing Financial Centre, the new corporate headquarters of Dah Sing Bank at 248 Queen’s Road East, Wan Chai. Mr. Harold Wong, Managing Director and Chief Executive of Dah Sing Bank (second from right), Mr. Derek Wong, Managing Director and Chief Executive of Dah Sing Financial Holdings and Dah Sing Banking Group (right), Mr. Keith Wu, Chief Executive Officer of Henderson Sunlight Asset Management Limited (second from left) and Mr. Victor Wong, General Manager — Asset Management of Henderson Sunlight Asset Management Limited (left) officiated at the ribbon-cutting ceremony, signifying a momentous milestone for the two corporations.

The new Dah Sing Bank digital flagship branch in Dah Sing Financial Centre is open for business today.

As the anchor tenant of Dah Sing Financial Centre, the Bank has leased over 89,000 sq. ft. of office and retail spaces. Utilized as the Bank’s new corporate headquarters, the office portion features modern digital technology to promote workplace collaboration, and to enhance working mobility and operational agility. Additionally, it is designed to embrace green and wellness workplace principles, from the implementation of paperless workflows and energy efficient lighting systems, to the use of ergonomic office furniture and fitness amenities. The Bank’s new flagship branch on the ground floor also leverages eco-friendly technology and processes to showcase its new approach and standard for customer experience, striking a balance between digital empowerment and its signature personalized service.

The Manager has, in the meantime, capitalized on this new chapter of collaboration by implementing green and proptech features at Dah Sing Financial Centre, including the installation of green wall panels as well as intelligent and energy efficient lighting systems. With the addition of new eateries and a revamped lobby, the Manager is confident to extend the environmental footprint of this Grade A building for the long-term benefits of stakeholders of Sunlight REIT.

Mr. Harold Wong, Chief Executive and Managing Director of Dah Sing Bank, Limited, said, “We are honoured and delighted to partner with Sunlight REIT and to work closely with its highly capable management team. The relocation of our headquarters and flagship branch to the new Dah Sing Financial Centre represents a key milestone for Dah Sing Financial Group, underscoring our long-term commitment to Hong Kong and the Greater Bay Area. The Group’s core businesses are underpinned by our progressiveness, customer focus, personal service and a solid foundation built on over many years. The move marks the next phase of the Group’s strategy that embraces technology to sharpen its customer focus and improve its customer experience, as well as maximize its competitiveness and operational efficiency.”

Mr. Wu Shiu Kee, Keith, Chief Executive Officer of the Manager, said, “On behalf of Sunlight REIT, I would like to extend a very warm welcome to Dah Sing Bank, Limited as it becomes the anchor tenant of our flagship office property. The change in building name not only symbolizes a long term and mutual commitment, it also portrays our vision to build a sustainable tenant profile for Sunlight REIT, while developing critical aspects of our business through collaboration with strategic partners such as Dah Sing Financial Group.”

About Dah Sing Bank

Dah Sing Bank, Limited is a wholly-owned subsidiary of Dah Sing Banking Group (HKG:2356) which is listed on the Hong Kong Stock Exchange. Founded in Hong Kong over 70 years ago, Dah Sing Bank has been providing quality banking products and services to our customers with a vision to be “The Local Bank with a Personal Touch”. Over the years, the Bank has been rigorous in delivering on our brand promise to grow with our customers in Hong Kong, the Greater Bay Area and beyond — “Together We Progress and Prosper”. Building on our experience and solid foundation in the industry, the Bank’s scope of professional services now spans retail banking, private banking, business and commercial banking. Meanwhile, the Bank is also making significant investments in our digital banking capabilities to stay abreast with smart banking developments in Hong Kong and to support financial inclusion at large.

In addition to its Hong Kong banking operations, Dah Sing Bank also has wholly-owned subsidiaries including Dah Sing Bank (China) Limited, Banco Comercial de Macau, and OK Finance Limited. It is also a strategic shareholder of Bank of Chongqing with a shareholding of about 15%. Dah Sing Bank and its subsidiaries now have around 70 branches operating in Hong Kong, Macau and Mainland China.

About Sunlight REIT

Sunlight REIT (Stock code: 435) is a real estate investment trust authorized by the Securities and Futures Commission and constituted by the trust deed dated 26 May 2006 (as amended and supplemented by six supplemental deeds), and has been listed on The Stock Exchange of Hong Kong Limited on 21 December 2006. Sunlight REIT offers investors the opportunity to invest in a diversified portfolio of 11 office and five retail properties in Hong Kong with a total gross rentable area of approximately 1.2 million sq. ft.. The office properties are primarily located in core business areas, including Wan Chai and Sheung Wan, as well as in decentralized business areas such as Mong Kok and North Point. The key retail properties are situated in regional transportation hubs and new towns including Sheung Shui, Tseung Kwan O and Yuen Long.

Disclaimer: The information contained in this press release does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for units in Sunlight REIT in Hong Kong or any other jurisdiction.

DHL donated IDR2.4 billion to SOS Children’s Villages in six years of partnership in Indonesia

  • With DPDHL Group’s support and contribution of €140,000 (IDR2.4 billion) since inception, program has benefitted more than 2,500 young people in Indonesia
  • GoTeach program aims to improve youth employability, especially now with challenges posed by the COVID-19 pandemic

JAKARTA, INDONESIA – Media OutReach – 8 March 2021 DHL Global Forwarding, the leading international freight specialist arm of Deutsche Post DHL Group (or DPDHL Group), today commemorates six years of partnership with SOS Children’s Villages (SOSCV) at a DHL GoTeach Donation Ceremony. Working together with the non-governmental organization (NGO) focused on supporting children without parental care and families at risk, DPDHL Group has reached out to more than 2,500 beneficiaries in Indonesia through mentorship and educational activities and a contribution of €140,000 (IDR2.4 billion) since 2014.

“As one of the largest employers in the world, the Group is supportive of programs that prepare job seekers for the working world, especially during such challenging times. Today, we are proud to commemorate our six years of partnership with SOS Children’s Villages at the DHL GoTeach Donation Ceremony,” said Thomas Grunau, Global Head of Business Strategy & Digitalization, DHL Global Forwarding.

During the ceremony, Grunau presented a donation of €5,000 to SOSCV Indonesia in support of the Pandemic GoTeach project, which offered an online employability training to more than 1,000 young people all over Indonesia in 2020. With the support of 12 volunteers, the online training sessions, covering employability related topics such as job interview and resume writing skills, will continue in 2021 until social distancing measures ease up. The program is the brainchild of Elok Vinindya Wardhani, Marketing and Corporate Communications, DHL Global Forwarding Indonesia, who was recognized for her initiative and effort with the organization’s CEO award in the category sustainability.

DHL Global Forwarding Indonesia President Director, Vincent Yong said, “In today’s rapidly changing world, education paves the way to a stable, sustainable and prosperous tomorrow. Through the GoTeach program, DHL hopes to help the youth in Indonesia to develop the skills and confidence to enter the professional world. With 509 employees across all business divisions volunteering for more than 3,000 hours in the past six years, GoTeach also delivers opportunities for our employees to actively contribute and play a role in the community.”

GoTeach is a group-wide corporate responsibility program aimed at improving youth employability for those from disadvantaged socio-economic backgrounds. Educational and mentorship activities are regularly organized to better prepare them to enter the working world.

“The sustainability and power of an economy and the society depend on a strong educational system and targeted efforts to develop the next generation of working professionals. During the COVID-19 pandemic, jobs and livelihoods have been impacted, deepening the need for training and mentoring programs, such as GoTeach, for our youth to continue to develop their competencies and capabilities to reach their dreams. SOS Children’s Villages is happy and proud to join hands with DHL Indonesia to deliver on this commitment,” said Gregor Hadiyanto Nitihardjo, National Director SOS Children’s Villages Indonesia.

According to UNICEF, there are approximately 24 million students who have dropped out of school as a result of the pandemic, adding to the 870 million students or half of the world’s student population in 51 countries who have yet to return to school.

In Indonesia, DHL Global Forwarding together with DHL Express and DHL Supply Chain have continuously focused on developing youth’s potential since 2014, sharing knowledge on soft and hard skills as well as supporting career development and employability for young people. The GoTeach program has been conducted in several locations across Indonesia such as Meulaboh, Banda Aceh, Medan, Jakarta, Lembang, Semarang, Bali and Flores. For the past six years, DHL employees have actively become mentors in several GoTeach activities such as skill preparation, job shadowing, DHL facility tours, internships and dream camp activities at SOS Children’s Villages to improve employability. The initiative is also part of DPDHL Group’s effort to contribute to local communities where they operate.

DHL – The logistics company for the world

DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 380,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as “The logistics company for the world”.

About SOS Children’s Villages

SOS Children’s Villages is a non-profit organization that provides alternative care for children who lost or at risk of losing their parental care. Founded in 1949 in Innsbruck, Austria, SOS Children’s Villages now are in 136 countries, including Indonesia. Today, Indonesia SOS Children’s Villages have nurtured and assisted more than 5.500 children in 11 cities in Indonesia: Lembang, Jakarta, Bogor, Semarang, Yogyakarta, Tabanan, Maumere, Banda Aceh, Meulaboh, Medan, and Palu. For further information, visit: www.sos.or.id | @desaanaksos

*Special Notes

SOS Children’s Villages prioritizes family-based care and we form substitute families for children who lost or at risk of losing their parental care. The Mothers and Children establish a family relationship with each other just like any family out there (family-care), so we avoid terms such as an orphanage, foster child, foster mother, and orphans that is replaced with the term a child who lost or at risk of losing their parental care. In SOS Children’s Villages, we also pay close attention to children’s interests and we also protect their privacy, so any information that is related to their background and personal matter will only be shared with particular parties and will not be published to the public.

DHL Global Forwarding and Pelindo 1 Collaborate to Strengthen Logistics in Kuala Tanjung

  • DHL Global Forwarding offers its worldwide network and expertise to accelerate the development of Kuala Tanjung as Indonesia’s Logistics Supply Chain Hub
  • Kuala Tanjung International Hub strategically located in the Strait of Malacca, one of busiest commercial shipping lanes in the world, and strengthened by infrastructure connectivity of Trans-Sumatera toll roads and trains

MEDAN, INDONESIA – Media OutReach – 8 March 2021 Pelindo 1 continually strives to further its contributions toward the country’s economic recovery, and one of their focuses is to strengthen and expand its logistics services. This effort is realized through a partnership between Pelindo 1 and DHL Global Forwarding Indonesia. The world’s leading international freight specialist will be the sole logistics provider to be involved in the discussion to accelerate the development of Kuala Tanjung Port and Industrial Estate (Kuala Tanjung PIE), offering its global network and expertise in end-to-end logistics including ocean freight and value added services such as warehouse management, customs brokerage, domestic distribution and bonded logistics center (Pusat Logistik Berikat, or PLB) solutions.

Dani Rusli Utama, President Director, Pelindo 1 (left) and Vincent Yong, President Director, DHL Global Forwarding Indonesia (right) sign the Memorandum of Understanding for the two organizations to collaborate and work towards the development of Kuala Tanjung.


“Located in the middle of Malacca Strait, which is one of the busiest commercial shipping routes in the world, and supported by hinterlands which are rich in agricultural, plantation and mining natural resources along the island of Sumatera, Kuala Tanjung PIE is strategically positioned as an important node in the global logistics and supply chain network,” said Kelvin Leung, CEO of DHL Global Forwarding in Asia Pacific. “This is a critical project for the country and for DHL as we seek to cement our leading position in the freight forwarding industry in the region.”

The two parties marked the collaboration with the signing of the Memorandum of Understanding (MoU) on 1 March 2021 in Jakarta, with Dani Rusli Utama, President Director and Prasetyo, Director of Transformation and Business Development representing Pelindo 1 and Vincent Yong, President Director representing DHL Global Forwarding Indonesia.

“We need to work together to build an ecosystem and prepare Kuala Tanjung Port and Industrial Estate (Kuala Tanjung PIE) as Indonesia’s main gateway to the global logistics network. Pelindo 1’s collaboration with DHL will provide added value for both parties as well as cheaper, faster and more transparent services,” said Dani.

“It is an honor for us to collaborate with Pelindo 1 and contribute toward the government’s grand plan to accelerate the development of Kuala Tanjung PIE. Turning it into Indonesia’s Logistics Supply Chain Hub will further increase the competitiveness of the economy and enhance the ease of doing business in the country,” said Yong. “We are excited about the growth potential of the country and remain committed to help improve Indonesia’s supply chain efficiencies.”

Kuala Tanjung PIE consists of two integrated parts, namely the Port Area and the Industrial Estate. The development of the Port Area is marked by the operation of the Kuala Tanjung Multipurpose Terminal (KTMT) since 2019. As an international hub, this port is designed to accommodate large ships weighing 50,000 DWT (dead weight tonnage) as well as various types of cargo, from containers, liquid bulk to general cargo.

As for the industrial estate, it will be developed in an area of ​​3,400 hectares, with the potential for various industrial segments, including aluminum, palm oil, iron, steel, rubber, petrochemical, food products, and other industrial segments based on customer needs.

This area will also be strengthened by the availability of various integrated transportation networks in the form of Trans-Sumatera toll roads and trains. Kuala Tanjung PIE is also directly connected to the Sei Mangkei Special Economic Zone (SEZ), which is the main center for palm oil-based industries in northern Sumatera.

“As a future port and industrial complex, Kuala Tanjung PIE will continue to grow, with a vision to become Indonesia’s Global Logistics and Supply Chain. So far, several companies and investors are interested in investing in the area. The more companies and investors who invest, of course, will support the acceleration of the revival of the Indonesian economy,” said Dani.

DHL – The logistics company for the world

DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 380,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as “The logistics company for the world”.

About PT Pelabuhan Indonesia I (Persero)

(BUMN) which manages port services in western Indonesia. Pelindo 1 is headquartered in Medan and has operating areas in 4 provinces covering Aceh, North Sumatra, mainland Riau and Riau Islands Provinces, and manages 15 port branches, 8 port / representative areas and manages 1 (one) business unit, namely UGK (Unit Shipyard Business) and 5 (five) Subsidiaries, namely PT Prima Terminal Container (PTP), PT Prima Multi Terminal (PMT), PT Prima Indonesia Logistik (PIL), PT Prima Pembangunan Kawasan (PPK) and PT Prima Husada Cipta Medan (PHCM).

Pelindo 1 services include ship services, goods services, passenger services and other port services. Pelindo I has a strategic location in the Strait of Malacca, which is the busiest strait in world trade traffic and is currently developing the Kuala Tanjung port as the western port of Hub Port for Indonesia, and has the main gate for CPO exports to the rest of the world, namely through the ports of Belawan and Dumai.

Currently Pelindo 1, in an effort to continuously improve service productivity, has made innovations by adding equipment and extending jetty facilities so as to increase productivity more effectively and efficiently. This continuous development is also to support the success of government programs in accelerating national development and supporting Government policies, especially in the maritime highway program to strengthen national connectivity and create national logistics costs efficiently and effectively and increase national competitiveness.

Pelindo 1, Indonesia Gateway.

European TopSoho S.à r.l.: €250 million 4% secured guaranteed bonds due 2021 exchangeable into shares of SMCP S.A. (ISIN XS1882680645)

LUXEMBOURG – Media OutReach – 8 March 2021 European TopSoho S.à r.l. (the “Company” and, together with its holding companies and subsidiaries, the “Group“) announces today information in relation to its €250 million 4% secured guaranteed bonds due 2021, exchangeable into shares of SMCP S.A. (ISIN XS1882680645) (the “Bonds“).

Reference is made to (1) the trust deed dated 21 September 2018 between the Company, the Guarantor and BNP Paribas Trust Corporation UK Limited relating to the Bonds (the “Trust Deed“); and (2) the announcement of the Company dated 18 January 2021 (the “Announcement“). Unless otherwise defined, capitalised terms in this announcement will have the same meaning as those defined in the Trust Deed and the Announcement, as applicable.

RECENT EVENTS


Discussions with the Ad Hoc Group

Over the past few weeks, the Company and its various stakeholders, together with their respective advisers, have been engaged in constructive dialogue towards an amendment of certain indebtedness and/or other obligations in respect of the Bonds (the “Proposed Transaction“). Progress has been made with a number of major holders of the Bonds who together constitute the Ad Hoc Group (who, as at the date of this announcement, beneficially hold as principal over 75% of the aggregate outstanding principal amount of the Bonds) on the terms of such Proposed Transaction. This has culminated in the Company and the Ad Hoc Group having reached an in-principle agreement on such terms, which includes express waivers of the outstanding alleged defaults, certain contractual protections regarding the approximately 12.1 million unpledged SMCP shares owned by the Company (including agreements not to transfer or encumber such shares, save only for waiver with the consent of the majority bondholders) and the payment of certain fees.

The Company is therefore pleased to announce the terms of the Proposed Transaction (see “Proposed Transaction” below) which, when completed, will provide for the stability of the Group and its business for the benefit of all stakeholders.

Claim against the Guarantor

The Company announces that it has been notified by the Guarantor of a claim made against the Guarantor. For more information, please refer to Appendix 2.

PROPOSED TRANSACTION

The terms of the Proposed Transaction are set out in the term sheet which is attached hereto as Appendix 1 (the “Term Sheet“). This Term Sheet forms the basis for the implementation of the Proposed Transaction.

The Company currently intends to implement the Proposed Transaction by way of a consent process, which will involve the Company soliciting electronic consents from holders of the Bonds in Euroclear and Clearstream, in accordance with the applicable provisions of the Trust Deed. The Proposed Transaction remains subject to agreement on final documentation and satisfaction of certain preliminary steps and the Company cannot assure Bondholders that the Proposed Transaction will be completed.

The Company expects to commence the process of implementing the Proposed Transaction on the terms set forth in the Term Sheet as soon as possible, and will provide timely updates to the market on the progress of these efforts as appropriate, including when the consent process is launched.

The Company encourages holders of the Bonds to participate in the consent process when launched and looks forward to timely creditor support.

Appendix 1

Term Sheet


European TopSoho Exchangeable Bonds — Non-Binding Term Sheet

(Subject to Contract)

This draft term sheet (“Term Sheet”) outlines the principal terms and conditions of a proposed amendment of certain indebtedness and/or other obligations (“Transaction”) in respect of the €250,000,000 4.00 per cent. secured exchangeable bonds due 2021, ISIN: XS1882680645 (the “Bonds“) issued by European TopSoho S.à r.l.

This Term Sheet is not intended to be a comprehensive list of all relevant terms and conditions of the Transaction or any other transaction in relation to the Bonds. Other than the Governing Law and Jurisdiction provisions (as set out in this Term Sheet), this Term Sheet is not binding and the transactions contemplated by this Term Sheet are subject to, amongst other things, the execution of definitive documentation by the parties.

Unless otherwise noted below or to the extent the context otherwise requires or is reasonably necessary to give effect to the Transaction, the terms of the Bonds shall be substantially the same as those set out in the trust deed dated 21 September 2018 between the Issuer, the Guarantor and BNP Paribas Trust Corporation UK Limited relating to the Bonds (the “Trust Deed“). Unless otherwise defined, capitalised terms used in this Term Sheet will have the same meaning as those defined in the Trust Deed.

Bond Feature

Current Position

Retraction of Purported Default Notice and repayment on Original Maturity Date

Issuer

European TopSoho S.à r.l.

As per current position

Guarantor

Forever Winner International Development Limited

The Guarantor shall remain a guarantor under the Bonds, but circumstances affecting and/or relevant to the Guarantor will not result in an Event of Default under the Bonds and other covenants, undertakings and representations under the Trust Deed will not be applicable as regards the Guarantor.

If an insolvency or similar event against the Guarantor as described under Condition 14(a)(iv) or Condition 14(a)(v) of the Trust Deed occurs and a judgment, order or similar is issued against the Guarantor, the Trustee will have a direct claim against the Guarantor for the amounts outstanding under the Bonds and the Trust Deed (as if they had been declared due and payable on the date of such insolvency event) and shall be able to prove in such insolvency or other similar process as a debtor in respect of such amount (and any amounts recovered by the Trustee from the Guarantor will be applied against the amounts outstanding in respect of the Bonds), provided always that an Event of Default will not be deemed to have occurred under the Bonds against the Issuer solely as a result of the occurrence of such insolvency or similar event, and there shall not be any rights of acceleration as against the Issuer, in such circumstances.

Principal amount

EUR 250m

As per current position

Coupon

4% p.a., payable quarterly in arrear

As per current position

Default interest

None

As per current position

Maturity Date

21 September 2021

As per current position

Redemption Price at Maturity Date

100% plus final coupon payment

As per current position, but it will be a condition to any redemption that the exit fee and the work fee, as referenced below, are paid by the Issuer.

Events of Default

List of events as per Condition 14(a).

The “Early Redemption Settlement Amount” is due on acceleration (broadly, the higher of the parity value of the underlying SMCP shares and par, plus all future coupon payments)

As per current position save that circumstances affecting and/or relevant to the Guarantor will not result in an Event of Default under the Bonds (but without prejudice to the direct claim against the Guarantor which shall arise in the circumstances specified under “Guarantor” above).

Following any Event of Default, the Trustee (in addition to the Issuer) will also be able to request a calculation of the Early Redemption Settlement Amount from the Calculation Agent without the Calculation Agent requesting further instruction from the Trustee and without inquiry into the validity of the purported Event of Default.

Security

English law security over 28,028,163 SMCP shares held with BNP Paribas Securities Services, London Branch as custodian

All of the unpledged SMCP shares owned by the Issuer (being 12,106,939 SMCP shares) will be held with a UK-based custodian (such entity to be agreed between the Issuer and the AHG) in an unsecured account. Unanimous approval by the Issuer’s board of managers in respect of such transfer will be obtained prior to the signature of definitive documentation in respect of the Transaction.

Covenants re security

Customary negative covenants, including (i) prohibiting further security over the secured SMCP shares; (ii) prohibiting any disposal of the secured SMCP shares; and (iii) requiring distributions on the secured SMCP shares to be deposited in the secured account

250% overcollateralization obligation.

As per current position, provided that the Custodian will act on the instruction of the Trustee (jointly with the Issuer, prior to any delivery of a Default Notice) at all times whilst any amount is outstanding under the Bonds in respect of any transfer, disposal, withdrawal from, or grant of security over, the SMCP Securities Account.

Upon the delivery of a Default Notice, the Trustee will elect (by specifying in the Default Notice, a copy of which will be delivered to the Custodian, as well as to the Issuer and the Guarantor) whether it will exercise voting rights in respect of (i) 29% of the SMCP shares in issuance or (ii) all of the pledged SMCP shares (representing approximately 34% of the SMCP shares in issuance). Such election shall apply during the period starting from the delivery of the Default Notice to the enforcement of security over the pledged SMCP shares.

Trustee

The parties disagree as to the validity of the appointment of GLAS SAS (London Branch) as Trustee

Issuer/Guarantor to enter into a supplemental trust deed or such other document to be agreed recognising the effectiveness of appointment of GLAS SAS as trustee.

Negative pledge

Applies to the Issuer, Guarantor and their subsidiaries, permitting only those liens allowed under the Prime Bloom bonds

As per the current position, plus covenants in respect of the unpledged SMCP shares as follows:

· not to transfer, sell, encumber or grant any security, declare any trust over, move to another jurisdiction, or otherwise dispose of any interest in the unpledged SMCP shares; and

· maintain the unpledged SMCP shares in the new London custody account until the full redemption of the outstanding bonds.

Tri-partite custody agreement / custody supplemental agreement as regards the unpledged SMCP shares to be entered into between the Issuer, the custodian and the Trustee as a CP to the signing of the amendment to the Trust Deed implementing this Transaction, which shall provide that no transfer, withdrawal, disposal of or grant of security over the unpledged SMCP shares shall be effected (at any time whilst any amount is outstanding under the Bonds) by the UK-based custodian without the prior written
consent of the Trustee.

Restriction on indebtedness

No indebtedness at the Issuer level excluding refinancing indebtedness in the form of exchangeable bonds

Refinancing indebtedness may be in any form, provided that, concurrently with or immediately following the issuance or incurrence of such indebtedness, the Bonds and all amounts due under the Trust Deed shall be redeemed or otherwise repaid in full (and not in part).

Information rights

Annual financial statements (if any) of the Issuer/Guarantor to be delivered to the trustee within 30 days of publication and within 180 days of the relevant year end

Customary trustee information request rights as per the trust deed, including delivery of compliance certificates

As per current position, plus:

Audited consolidated financial statements for the Issuer for the financial year ended 31 December 2020 to be provided to the Trustee and published on the Issuer’s website (www.europeantopsoho.com), in each case by 30 June 2021.

Unaudited management accounts for the Issuer as of 31 December 2020 to be provided to the Trustee for distribution to all Bondholders upon effectiveness of the Transaction.

Monthly updates on progress on the refinancing to be provided to the legal advisers representing Bondholders holding more than 50% of the principal amount of the Bonds outstanding, subject to such advisers having reasonable and appropriate confidentiality obligations directly to the Issuer.

Additional covenants

N/A

Covenant not to deal with the unpledged SMCP shares and to ensure that they remain free of any security interest as per the above.

Additional restrictions on the Issuer to ensure that the Issuer remains a “locked box” as may reasonably be required by the AHG, including:

· Covenant prohibiting restricted payments by the Issuer;

· Covenant to maintain the COMI in Luxembourg; and

· Acknowledgement by the Issuer that England and Wales is the appropriate forum in respect of any insolvency or enforcement process or proceedings (including liquidation, administration, receivership or otherwise) with respect to its assets located in England and Wales, to the extent permitted by law, and covenant not to challenge the jurisdictional basis of any English insolvency proceedings if initiated by the Trustee and/or the Bondholders.

Exchange Rights

Customary exchange rights architecture for exchangeable bonds. Issuer election to satisfy exchange rights in cash, shares or a combination. Future coupons are also payable on any exercise of exchange rights

As per current position

Adjustments to the Exchange Ratio/Dividend Protection

Customary adjustment provisions. Full dividend protection

As per current position

Exchange Ratio Reset

Annual formula-based adjustment to Exchange Ratio (final Reset Date = 21 March 2021)

As per current position

Issuer call rights

Issuer call option following an All-Cash Offer; Issuer “clean up” call (20% threshold)

As per current position, plus an optional call right will be introduced to allow the Issuer to redeem the Bonds (in whole and not in part) at par (plus the Make Whole Amount, being all undiscounted interest accrued to the Maturity Date) on any date prior to the Maturity Date, subject to no less than 10 and no more than 30 days’ notice.

Investor put right

Investor put option following a Change of Control (of SMCP) and/or any Delisting (at 100% plus all future coupon payments)

As per current position

Tax call/gross-up

No gross up and no tax call

As per current position

Governing law

English

As per current position

Listing of the Bonds

Euronext Access (non-regulated market)

As per current position

Ratings

None

None

Clearing

Euroclear/Clearstream

As per current position

Consent Fee

N/A

In consideration of the Bondholders consenting to the terms of the Transaction, the Issuer shall agree to pay an exit fee (i.e. a fee to be paid when the Bonds are (or are required to be) repaid or redeemed, whether at maturity, upon an Event of Default, or as a result of a call or put option exercised by the Issuer or the Bondholders) to each Consenting Bondholder in an amount equal to 2% of the outstanding principal amount of the Bonds held by that Consenting Bondholder as at the date on which the Electronic Consent (as defined below) in respect of the terms of the Transaction is passed.

Consenting Bondholder” means a beneficial holder of the Bonds who has, prior to the applicable deadline specified in the consent solicitation memorandum (in respect of the terms of the Transaction): (a) submitted (or caused its relevant clearing system account holder to submit) a valid electronic voting and blocking instruction, via the relevant clearing system, instructing that all the votes attributable to the Bonds held by that beneficial holder should be cast in favour of the Electronic Consent and that those Bonds should be blocked in the relevant clearing system; and (b) provided the Issuer (or the solicitation agent acting on its behalf) with evidence of such submission to the reasonable satisfaction of the Issuer (or the solicitation agent acting on its behalf).

Work Fee

N/A

In consideration of the work undertaken by the AHG in assisting the Issuer with the formulation and refinement of the terms applicable to the Transaction and provided that the Electronic Consent is passed by the requisite majority of Bondholders, the Issuer shall agree to pay (to the relevant members of the AHG as at the date on which the Electronic Consent in respect of the terms of the Transaction is passed) an exit fee (i.e. a fee to be paid when the Bonds are (or are required to be) repaid or redeemed, whether at maturity, upon an Event of Default, or as a result of a call or put option exercised by the Issuer or the Bondholders) in an amount equal to EUR 5 million.

Contribution to costs of the AHG

N/A

Full cost contribution by the Issuer to the costs of the AHG (being its legal counsel as to English, French and Luxembourg law).

Reimbursement of the costs of GLAS SAS and BNP Paribas Trust Corporation UK Limited and their respective legal counsel.

The above being subject to review of all incurred costs by the Issuer/Guarantor or their advisers on their behalf.

All costs to be funded by way of equity injection into the Issuer or otherwise satisfied directly by another group company on a subordinated basis (such subordinated funding to be permitted indebtedness under the Bonds).

Waivers

N/A

All alleged defaults and all defaults disclosed by the Issuer in the supplemental trust deed would be waived, notices of default withdrawn and the purported acceleration of the Bonds will be rescinded.

The supplemental trust deed will also provide that any future breach of covenant and/or event of default can be waived, and any Default Notice can be rescinded, by holders of Bonds representing a majority of the Bonds then outstanding (in addition to the current architecture for Extraordinary Resolutions).

Implementation

N/A

The terms of the Transaction will be approved by soliciting electronic consents from holders of the Bonds in Euroclear and Clearstream, as contemplated by the Trust Deed (“Electronic Consent“). Members of the AHG will, immediately prior to the launch of such consent solicitation process, irrevocably undertake to provide such consents in respect of all Bonds held by them.

The timing of the execution of the documents (and which documents will be CPs) remains subject to discussion.

Binding Provisions

Governing Law and Jurisdiction

This Term Sheet and any non-contractual obligations arising out of or in connection with it shall be governed by the laws of England and Wales and be subject to the exclusive jurisdiction of the courts of England and Wales.

Appendix 2


The Company announces that it has been notified by the Guarantor (1) of a claim made against the Guarantor as regards the alleged non-payment by the Guarantor of indebtedness in excess of the cross-default threshold set out in Condition 14(a)(iii) of the Bonds, such indebtedness incurred pursuant to a guarantee provided by the Guarantor in respect of certain bonds; and (2) that the Guarantor is disputing its liability for such indebtedness and has taken steps to defend its position including by filing an affidavit with the High Court of the Hong Kong Special Administrative Region, taking the position that such claim is not valid.

Having considered the aforesaid developments with its advisers, the Company’s view is that no Event of Default is continuing as of the date of this announcement.

About European TopSoho S.à r.l.

European TopSoho S.à r.l. is an investment holding company established in Luxembourg. The Company is the controlling shareholder of SMCP S.A. which is a leading accessible luxury fashion company listed on the regulated market of Euronext Paris.

European TopSoho S.àr.l. is a subsidiary of Shandong Ruyi Technology Group Company Limited, the leading apparel manufacturer and fashion brands operator headquartered in Shandong, China.

This press release contains inside information released by the Company under Regulation (EU) 596/2014 (16 April 2014).

Legal Entity Identifier (LEI): 222100WPZ89Z7MJRFX19.

Dash Living Collaborates With Ovolo Hotels To Launch Two New Generation of Serviced Rental Solutions In Hong Kong

HONG KONG SAR – Media OutReach – 8 March 2021 – Dash Living, Asia’s pre-eminent serviced living community in Hong Kong and Singapore, today announced the launch of two major new Hong Kong projects in Aberdeen and Sheung Wan in collaboration with designer hotel group Ovolo. The two additions to the portfolio demonstrate how Dash Living is developing new multi-property partnerships in the region and how Ovolo Group is adapting to new market conditions.

A total of 135 rooms and suites that form part of a new generation of serviced rental solutions for hyper-mobile millennials will be available for booking. The Aberdeen by Dash Living, soon-to-be converted from Mojo Nomad By Ovolo, offers 79 rooms ranging from studios to executive suites. The 56-room The Sheung Wan By Ovolo, only remaining under Ovolo’s management for stays under 7 days, will offer units from studio, one bedroom, to family room options.

Dash Living, founded by serial entrepreneur Aaron Lee in 2014, has now grown to manage and operate over 1,300 units across serviced apartments, co-living homes and hotel rooms across Asia. It has more than 250,000 square feet under its management. As one of the leading regional hospitality groups, it provides more flexibility and a better living experience to people living in or visiting expensive cities in the region, including Hong Kong and Singapore, and more to come.

The Ovolo Group was founded by entrepreneur Girish Jhunjhnuwala and first entered the real estate market in 2002; then further expanded into the hotel industry in 2010. Ovolo Hotels quickly became one of Hong Kong and Australia’s most dynamic independent owner operated hospitality firms by providing guests with the best in effortless living across hotels and food and beverage outlets. It owns and operates twelve hotels across Hong Kong, Australia and Bali.

“These two new properties are in superb locations in Hong Kong and means Dash Living is now providing its unique solutions with an even wider coverage in the city,” said Aaron Lee, founder of Dash Living. “We are now in eight locations in Hong Kong, creating an accommodation community with tech, co-working, lifestyle and other benefits.”

Dash Living offers a collection of apartments, co-living homes and hotel rooms across prime areas of Hong Kong, including Causeway Bay, Wan Chai, Central, Tsim Sha Tsui, Jordan and Mongkok. With this collaboration, that list can now be updated to include Aberdeen and Sheung Wan. Dash also has numerous units in multiple prime locations across Singapore.

The Aberdeen by Dash Living will include communal areas spanning across three floors including a lounge, a living area, a movie-viewing space, a common kitchen, a laundry, a gym and an entertainment terrace perfect for barbecues. The management will be similar to that for a hotel, but for co-living long stays. The Sheung Wan by Ovolo includes a gym and laundry room for residents as well as a thriving authentic Mexican restaurant, Te Quiero Mucho.

“Partnering with Dash living was a no-brainer, it’s great to work alongside another great entrepreneur who pioneers effortless rental living solutions in the Hong Kong region. Our aim is to work closely with Dash Living to ensure all touchpoint of the guests experience is harmonious and too attractive to think about going anywhere else.”, said Girish Jhunjhnuwala, Founder and CEO of Ovolo Hotels, CEO of Ovolo.

Tenants in Aberdeen and Sheung Wan can enjoy an exciting variety of lifestyle benefits, or “perks”. For example, Dash Living provides free access to a variety of co-working spaces, free professional fitness center membership, a multitude of wellness, dining and shopping options with discounts, and more. As well, Dash Living offers regular tenant events to bring the “serviced living community” to life, including collaborations with local partners for activities such as yoga, bakery and fitness.

Customers can reserve long stay rooms and suites at The Aberdeen by Dash Living and The Sheung Wan by Ovolo via the Dash Living website, while also enjoying a host of value-added benefits as a Dash member.

About Dash Living

Dash Living is Asia’s new generation of rental solution in Hong Kong & Singapore for urban professionals. Venture capital backed by MindWorks Ventures, and founded by serial entrepreneur Aaron Lee, Dash Living’s mission is to create a global accommodation community through sharing economies, tech, and AI, empowering today’s hyper-mobile, tech-savvy millennials to live in the most expensive cities in the world.

Website: www.dash.co

About Ovolo Group

The Ovolo Group was founded by entrepreneur Girish Jhunjhnuwala and first entered the real estate market in 2002; then further expanded into the hotel industry in 2010. Ovolo Hotels quickly became one of Hong Kong and Australia’s most dynamic independent owner operated hospitality firms by providing guests with the best in effortless living across hotels and food and beverage outlets.

The Ovolo Group is a collection of contemporary hotels that keep you connected to the little luxuries you love, all effortlessly included. The company prides itself on being in touch with the modern traveller through award-winning interior designs, detail-driven comforts, complimentary value-added services like the mini bar and breakfast, with cutting-edge technology. Ovolo Hotels have been acknowledged for Hotel and Accommodation Excellence, receiving the accolade “Hotel Brand of the Year”, at the 2019 and 2020 HM Awards.

A proud Hong Kong brand, Ovolo Group remains a family-owned and privately-operated business operating four hotels and three restaurants in Hong Kong, and seven hotels and five restaurants across Australia in Sydney, Melbourne, Canberra and Brisbane. A new hotel is being developed in Melbourne, Australia, Ovolo South Yarra.

Ovolo also has the By Ovolo Collective within its portfolio of hotels, a distinctive collection of four hotels each one unique, each one special, the more guests explore, the more they’ll find. These include Nishi Apartments in Canberra Australia, Mojo Nomad Aberdeen Harbour in Hong Kong, The Sheung Wan Hong Kong, and Mamaka Kuta Beach Bali Indonesia launching Q1 2021.

Website: www.ovolohotels.com

Vetter establishes office in China to better serve the needs of its growing customer base worldwide

Additional company office in the Asia Pacific region will showcase Vetter’s expertise and help build and strengthen its business network in China

 

  • New office underscores importance of Chinese market
  • Physical presence promotes development of new business in China
  • Comprehensive service portfolio supports domestic companies in accessing the global market place

SHANGHAI, CHINA AND RAVENSBURG, GERMANY – Media OutReach – 8 March 2021 Vetter, one of the global leaders in prefilled drug-delivery systems, today announced the opening of a new business entity in Shanghai, China. The new office, now its fourth in the Asia Pacific (APAC) region, will help increase the visibility of Vetter’s presence in China and underlines its importance as an important strategic market to Vetter. Thus, the office will support customer relations and aid in the development of new business. As the second largest pharmaceutical market and one of the largest in sales growth rate worldwide, China offers a promising injectable pipeline and allows the Contract Development and Manufacturing Organization (CDMO) to offer support to domestic companies that plan on bringing their molecules to the global market. As a strategic partner, Vetter supports its worldwide customer base through every phase of their injectable drug product’s lifecycle, from early development activities to commercial supply up to lifecycle initiatives.

Vetter’s new office underscores the importance of the Chinese market for the pharmaceutical service provider. Oskar Gold, Chervee Ho, and Jason Zhong (from left to right) act as key contacts.

Source: Vetter Pharma International GmbH

“We are convinced that our continued investment in the Asia Pacific region will significantly contribute to our future global growth,” explained Vetter Managing Director Peter Soelkner. “With an increased share of Asian firms among the Top 50 Pharma companies worldwide over the last several years, our mission is to service the needs of our global customer base, of course including Asia, in the best-possible way.” Oskar Gold, Vetter’s Senior Vice President for Asia Pacific/Emerging Global Markets outlined the initiative: “Our presence in China demonstrates our dedication in one of the most important markets of the APAC region and will help to increase the awareness of Vetter’s services by presenting our expertise and market position onsite.” The office is staffed by Mr. Jason Zhong, who assumes the position of Business Development Manager China. As the first member of the new team in China,
Mr. Zhong will lead Vetter’s business activities reporting to Ms. Chervee Ho, who is Vetter’s Director Key Account Management Asia Pacific, based in Singapore.

The new office, located in Puxi, Shanghai, is strategically positioned on Nanjing Road West in the heart of the city’s Central Business District. Its creation follows Vetter’s business development activities in its APAC regional office in Singapore, as well as in its sales offices in Japan and South Korea, further strengthening its footprint in the Asia Pacific region.

Find the Vetter press kit and more background information here.

About Vetter

Headquartered in Ravensburg, Germany, Vetter is a family-owned, global leading contract development and manufacturing organization (CDMO) with production facilities in Germany, Austria and the United States. Currently employing 5,500 individuals worldwide, the company has long-term experience in supporting biotechnology and pharmaceutical customers both large and small. Vetter services range from early stage development support including clinical manufacturing, to commercial supply and numerous packaging solutions for vials, syringes and cartridges. As a leading solution provider, Vetter appreciates its responsibility to support the needs of its customers by developing devices that contribute to increased patient safety, convenience, and enhanced compliance. Great importance is also given to social responsibility including environmental protection and sustainability. Learn more about Vetter at www.vetter-pharma.com.

China Tower (788.HK) Continued to Consolidate Core Advantages; Strengthened Profitability with Payout Ratio Further Increased to 68%

HONG KONG SAR – Media OutReach – 8 March 2021 – The world’s largest telecommunications infrastructure service provider China Tower Corporation Limited (“China Tower”, or the “Company”) (Stock Code: 0788.HK) is pleased to announce its annual results for the year ended 31 December 2020.

Performance Highlights

RMB Million

2020

2019

Change

Operating revenue

81,099

76,428

6.1%

EBITDA

59,527

56,696

5.0%

Profit attributable to owners of the Company

6,428

5,222

23.1%

Basic earnings per share (RMB yuan)

0.0368

0.0297

23.9%

Key operating data

Number of tower sites (thousand)

2,023

1,994

1.5%

Number of tower tenants (thousand)

3,361

3,239

3.8%

Tower tenancy ratio (tower tenants / tower sites)

1.66

1.62

2.5%

The Company’s revenue maintained stable and healthy growth in 2020 while profitability continued to improve. Our operating revenue for 2020 recorded a 6.1% year-on-year increase to reach RMB81,099 million; our EBITDA1 amounted to RMB59,527 million, with a 73.4% EBITDA margin2. Profit attributable to owners of the Company totaled RMB6,428 million, up by 23.1% over the previous year, with a net profit margin of 7.9%.

Our cash flow remained strong while the debt leveraging level was stable and healthy. Net cash generated from operating activities amounted to RMB57,548 million in 2020. Capital expenditures amounted at RMB37,122 million, while our free cash flow3 reached RMB20,426 million. As of 31 December 2020, our total assets reached RMB337,380 million and interest-bearing liabilities amounted to RMB112,871 million, with a gearing ratio4 of 36.7%.

Aligned with our commitment to providing good returns to our shareholders, the Board of Directors recommends to pay a final dividend of RMB0.02235 (pre-tax) per share for the year ended 31 December 2020, equivalent to a payout ratio of 68% of our annual distributable net profit.

Supporting 5G network construction efficiently and maintaining stable growth in TSP business

In 2020, in view of the accelerated 5G network deployment and the scaling of 5G construction, we strengthened the market-oriented approach with customer demands and 5G new features in mind. We continued to drive resource sharing by making full use of both existing resources and social resources and stepping up technological and product innovation to drive construction and service model transformation. By accelerating the implementation of our integrated wireless communications coverage solutions, we were able to meet customer demands with cost-effective, intensive and high-performing network coverage solutions. Our competitive advantages in low cost, high efficiency and quality services were further reinforced, supporting the stable growth of our TSP business.

As of the end of 2020, we managed a total of 2.023 million tower sites, representing an increase of 29,000 compared to the end of 2019. The number of TSP tenants reached 3.175 million, representing an increase of 112,000 compared to the end of 2019. Our TSP tenancy ratio reached 1.57. With regard to our DAS business, we had covered buildings with a cumulative area of 4,060 million square meters, while high-speed railway tunnels and subway coverage totaled a cumulative length of 12,702 kilometers.

In 2020, our TSP business revenue reached RMB76,899 million, or a 3.8% increase year-on-year, among which tower business revenue increased by 2.8% to RMB73,371 million, while DAS business revenue increased by 32.7% to RMB3,528 million.

Fostering competitive advantages to accelerate the growth of Two Wings business

Developing through sharing and collaboration is our founding principle, which has enabled us to fully leverage our resources and strengths to promote product innovation and better platform operation in key sectors. The Two Wings business maintained a good development momentum and has become important driver for revenue growth and value enhancement. In 2020, the Two Wings business recorded revenue of RMB3,939 million, or a year-on-year increase of 89.4%.

The TSSAI business sustained rapid growth. Along with the accelerated pace of informatization across society, we captured timely opportunities to develop two types of services around resource sharing and data information. Targeting key clients in important sectors relating to national economy and peoples’ livelihoods, such as environmental protection, forestry, lands, water resources, we enhanced our integrated information service abilities and continued to deliver rapid growth in our TSSAI business. In 2020, revenue generated from our TSSAI business reached RMB3,004 million, or a year-on-year growth of 59.2%.

The energy operation business achieved considerable breakthrough in scale. Leveraging the advantage of our site resources and expertise in securing power supply and operation, we have taken proactive steps to expand socialized energy applications and services. In 2020, aligned to our core business segments of battery exchange and power backup, we enhanced our product platform, expanded our customer base and built our brand advantages. While building up our market competitiveness, we achieved initial breakthrough in scale. As of 31 December 2020, we have cumulatively developed 301,000 paid users for our battery exchange services. In 2020, our energy operation business generated revenue of RMB935 million.

Mr Tong Jilu, Chairman of China Tower said, “Looking forward, we will seize the opportunities to achieve the goal of building an enterprise with the best potential for growth and value creation. We will continue to uphold our resource sharing to promote stable revenue growth and enhance the value of our Company, and to achieve high-quality development featured ‘One Core and Two Wings’ strategy.”


1 EBITDA is calculated by operating profit plus depreciation and amortization.

2 EBITDA margin is calculated by dividing EBITDA by operating revenue, and multiplying the resulting value by 100%.

3 Free cash flow is the net cash generated from operating activities minus the capital expenditures.

4 Gearing ratio is calculated as net debt divided by the sum of total equity and net debt, then multiplied by 100%. Net debt is calculated as the amount of interest-bearing liabilities minus the amount of cash and cash equivalents.

About China Tower

Since its incorporation on 15 July 2014, China Tower Corporation Limited (“China Tower”) has developed into the world’s largest telecommunications tower infrastructure service provider with compelling market advantage under the national strategy of Cyberpower. China Tower was listed on the Main Board of Hong Kong Stock Exchange on 8 August 2018 (Stock Code: 0788.HK), raising approximately HK$58.8 billion. The Company implements the strategy of “One Core and Two Wings”. “One core” refers to the traditional tower business and indoor Distributed Antenna System (DAS) business, which provide services to the TSPs based on site resources; while “Two Wings” refers to the Trans-sector Site Application and Information (TSSAI) business which mainly provides tower site resources and data information services to different industries, as well as energy operation business to satisfy the growing demands on energy services in the society, such as power backup and generation, charging, battery exchange and echelon use of batteries. China Tower adheres to the “sharing” philosophy for business development. It promotes site co-location and provides a wide range of services to fulfill the specific needs of its customers. As of the end of December 2020, the Company’s total assets amounted to RMB337,380 million. China Tower operated and managed 2.023 million tower sites across 31 provinces, municipalities and autonomous regions in the PRC, and served over 3.361 million tenants with the tenancy ratio of 1.66.

NERODILAMBRUSCO BY OTELLO CECI 1813: Explore the Essence of the Italian Winery’s Lifestyle Through Its Best Seller

#LAMBRUSCOTASTEOFITALY #LAMBRUSCOCECIPEOPLE

 

TORRILE, ITALY – EQS Newswire – 8 March 2021 – The famous OTELLO CECI 1813 Lambrusco, the feather in the cap of the CECI 1938 Italian winery — a company with an 80-year history — has been confirmed as the best-seller in China for 2020.

CECI 1938 exports the culture of Italian excellence and the typical flavours of the Bel Paese, of which Lambrusco is an outstanding example. With OTELLO CECI 1813, the company has gone further, combining the quality of the product with particular attention to the bottle design, the only one in the world with a square base.

An expression of contemporary lifestyle, with CECI 1938 Lambrusco becomes the manifesto for a young, carefree lifestyle, a true ode to the conviviality and joy that this wine expresses through the charm of its red bubbles. Lambrusco is also one of the few red wines that should be served and tasted cold.

With the hashtags #LambruscoTasteOfItaly and #LambruscoCeciPeople CECI 1938 invites wine enthusiasts and the curious to share their affinity with this lifestyle and join the global community.

“We’re proud of our Lambrusco, which has been a speciality of ours for over 80 years. Over time, we’ve carefully developed it to make it ever more appealing and, above all, suited to different food pairings. Today, OTELLO CECI is unique and unmistakable. We’ve been exporting it to China for around a decade, and since 2018 in partnership with ROYI Fine Wine — BUTTIS IF&B. It’s enjoyed by a young public, who recognise its inimitable lightness and flavour, a real Italian product, capable of taking centre stage in unforgettable moments”, says Maria Paola Ceci, President of CECI 1938.

“A glass of Ceci Lambrusco is more than just a glass of wine. Lambrusco is perfect for entertaining company because it encourages a smile, fuels happiness, and generates optimism. It makes you see the world in red and live the days with the typical lightness of its bubbles”, adds Maria Teresa Ceci, CEO of Ceci 1938.

Among friends, with the family, for an “Italian Style” aperitif, over lunch or dinner, OTELLO CECI captivates with its fruity notes such as cherry and berries like blackberry and strawberry. Hints of floral violet notes accompany the pleasantly spicy, mineral finish.

The ultimate Lambrusco with a multifaceted personality, OTELLO CECI has a rich palette of colours, from the intense ruby red of the nectar to the lighter crimson of the froth that forms when pouring and lights up the glass brilliantly. A lively, full-bodied wine with a sparkling, social character and a smooth flavour, to be enjoyed cold.

A wine of contrasts, whose exuberant personality blends perfectly with the minimalist contours of a stylish bottle. The latter is given a bold touch by the unusual square base, a regular, discreet shape that is adopted on the labels, where the words toy with one another in an exchange between positive and negative, black and gold with a vintage effect that celebrates Otello Ceci, the creative visionary who founded the winery.

Images available at this link: https://we.tl/t-Zp9J0s24so

OTELLO CECI NERODILAMBRUSCO — 1813 EDITION

TECHNICAL DATA

Appellation: Emilia IGT

Category: medium-dry semi-sparkling red wine

Grape variety: Lambrusco

Harvest: end of September

Soil: clay-calcareous of medium texture

Process: red vinification

Winemaking: Charmat method

Alcohol level: 11% vol.

Residual sugar: 30 g/l

Total acidity: 6.7 g/l

Serving temperature: 8/10°C

Size: 0,75 l (Sizes available 0,75 l — 1,5 l — 0,375 l)

Code: N-35

— The data are intended as standard of product

TASTING NOTES

Appearance: Intense ruby red colour, with lively, rich and persistent foam.

Nose: Intense, satisfying, sinuous. The fruity notes are reminiscent of cherry and wild berries such as blackberry and strawberry. Floral hints of violet accompany the delightful, spicy and mineral finish.

Palate: Surprising and rewarding. Delightful balance between softness, freshness, tanginess and good tannic texture. The intense nature of the aromas is confirmed to the taste, which are enhanced in the long and deep closure. A promise kept.

Suggested pairings: Otello Ceci is a wine capable of playing with countless pairings by varying the serving temperature. It is ideal for pairing with dishes which express a prevalent richness such as traditional Italian cured meats. It pairs well with well-structured pasta and risottos as well as with medium-aged cheeses or grilled meats. It is also able to express itself perfectly as a meditation wine.

CECI 1938

Cantine CECI 1938, an international winery for over 80 years, brings the passion of Italian tradition to the world, together with a forward-looking vision and a relentless desire for innovation. CECI 1938 produces one of the world’s best-loved Lambrusco wines — the famous red bubbles — a wine that the company has transformed over time into a unique nectar, setting new standards of recognisability. It’s a smooth wine, an ode to conviviality that lends itself beautifully to pairing; a true icon of the winery’s modernity.

Online, the company tells its story through the www.lambrusco.it website, a domain registered with pride and foresight in the early 1990s.

CECI’s Lambrusco wines include the OTELLO CECI 1813 Edition NerodiLambrusco and Lambrusco, BRUNO CECI Lambrusco Spumante Brut, TERRE VERDIANE 1813 Lambrusco, 27 OPERE Lambrusco, and ON’I OTELLON’ICE Lambrusco Spumante Demi-Sec.

Design plays an essential role in CECI 1938’s style, fuelling its research into the shapes and colours used to create the unusual bottles and labels, truly stylish creations with a touch of cool.

The Ceci winery, established in 1938 by Otello Ceci, experienced an initial period of growth in the 1960s under Otello’s sons Bruno and Giovanni, who made their mark on the company for the next twenty years.

Today the grandchildren of Otello, Alessandro, Maria Paola and Maria Teresa, and the great-grandchildren Elisa and Chiara, continue the family’s story with their bold, distinctive choices, challenging the market by bringing inspirations and influences from other sectors such as fashion, design and art to traditional winemaking.

The aim is to stand out, offering an unconventional approach to one of the most traditional Italian industries, in order to speak to young people in a contemporary language.

CECI 1938 creations also include OTELLO CECI 1813 Edition Spumante Rosè, OTELLO CECI Color Therapy Spumante Brut, BRUNO E LE ROSE Spumante Rosè, NANI OTELLO CECI Spumante Brut and Extra Dry, Spumante CECI 1938 Brut and Extra Dry, Lambrusco TO YOU, and DECANTA. CECI 1938 products are distributed to 38 countries.