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SPHERA FRANCHISE GROUP - SFG

Facilities related to restaurant development for Taco Bell Romania

Release Date: 12/28/2020 4:14:19 PM

IRIS Code: 28E5E

 

To:

BURSA DE VALORI BUCURESTI S.A.

AUTORITATEA DE SUPRAVEGHERE FINANCIARA

 

 

CURRENT REPORT 40/2020

According to Law no. 24/2017 regarding issuers of financial instruments and market operations, ASF Regulation no. 5/2018 regarding the issuers of financial instruments and market operations and/or Rulebook of the Bucharest Stock Exchange Market Operator.

Date of report

28.12.2020

Name of the Company

Sphera Franchise Group SA

Registered Office

Bucharest, Romania

Address

Calea Dorobantilor nr. 239, 2nd floor, Bucharest sector 1

Phone / Fax

+40 21 201 17 57 / +40 21 201 17 59

Email

investor.relations@spheragroup.com

Registration nr. with Trade Registry

J40/7126/2017  

Fiscal Code

RO 37586457

Subscribed and paid share capital

581,990,000 RON

Total number of shares

38,799,340          

Symbol

SFG

Market where securities are traded

Bucharest Stock Exchange, Main Segment, Premium Category

Important events to be reported: Facilities related to restaurant development for Taco Bell Romania

The management of Sphera Franchise Group SA (the “Group”) informs the investors about the successful closing of the negotiations between the franchisor, YUM! and California Fresh Flavors SRL (“CFF”), the Group’s subsidiary that holds the franchise rights to operate Taco Bell restaurants in Romania.

Further to the negotiations with the YUM!’s representative, Taco Bell Europe, the parties have agreed that for the period 2020 - 2021, CFF will benefit of progressive financial incentives, depending on the number of net new restaurants being opened. For each new net restaurant that exceeds the number of 5 net new restaurants, CFF will benefit of additional financial incentives. Due to the confidentiality of the agreement with YUM!, the Company cannot disclose the total value of the financial incentives negotiated.

According to the initial restaurant rollout plan, related to the period 2017- 2019, as agreed between YUM! and CFF, CFF had no more obligation to open new restaurants in 2020. Nonetheless, CFF continued the development of the Taco Bell network in Romania in the course of 2020.

The management is currently in ongoing renegotiations regarding the restaurant development plan for American Restaurant System SA, the operator of Pizza Hut and Pizza Hut Delivery brands in Romania. As soon as the agreement is reached, the company will inform the market about the new targets through a separate current report.

 

CHIEF EXECUTIVE OFFICER                                                  

Calin Ionescu                                                              

 



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