K-Swiss to Be Acquired by E.Land World for $4.75 Per Share in Cash

K•Swiss Inc. (KSWS) and E.Land World Ltd. announced today entry into a definitive agreement pursuant to which E.Land World will acquire all of the outstanding common stock of K•Swiss for $4.75 per share in cash, or a total equity value of approximately $170 million.

Under the terms of the agreement, which was unanimously approved by K•Swiss’ Board of Directors, K•Swiss stockholders will receive $4.75 in cash for each outstanding Class A and Class B share of K•Swiss common stock they own, representing a 49% premium over the closing price for a share of Class A common stock on the NASDAQ Stock Market on January 16, 2013, and a 62% premium over the three-month, volume-weighted average trading price for a share of Class A common stock on the NASDAQ Stock Market as of January 16, 2013.

Kingold Jewelry Announces Sale of Common Stock to China-based Investors for $12.6 Million

Kingold Jewelry, Inc. (KGJI), ("Kingold" or the "Company"), one of China's leading manufacturers and designers of high quality 24-karat gold jewelry, ornaments and investment-oriented products, today announced that the Company has entered into a Subscription Agreement ("Agreement") with three individuals providing for the sale of 7,000,000 shares of its common stock at a price of $1.80 per share for gross proceeds of $12,600,000.  

The Company also issued to the investors, on a pro rata basis, warrants to purchase up to an additional 2,800,000 shares of its common stock at an exercise price of $1.80, which warrant is not cashless exercise but is exercisable at any time in whole or in part for twelve months following the date of the Agreement. 

K-Swiss Reports Third Quarter Results

K•Swiss Inc. (KSWS) today announced results for the third quarter ended September 30, 2012. The operations of FORM Athletics are accounted for as a discontinued operation in the Company’s financial results and are excluded from futures orders data for the prior-year periods.

Financial Results

Net loss for the third quarter of 2012 was $1,926,000, or $0.05 per diluted share, compared with a net loss of $15,418,000, or $0.43 per diluted share, for the prior-year period. Net loss for the nine months ended September 30, 2012, was $20,263,000, or $0.57 per diluted share, compared with a net loss of $45,286,000, or $1.28 per diluted share, for the nine months ended September 30, 2011.

True Religion Apparel Announces Exploration of Strategic Alternatives

True Religion Apparel, Inc. (TRLG) today announced that after receiving indications of interest from third parties regarding a potential transaction with the Company, the Board of Directors has formed a Special Committee comprised of its non-management directors to explore and evaluate potential strategic alternatives available to the Company, including a possible sale, in order to maximize shareholder value.

No decision has been made to engage in a transaction or transactions, and there can be no assurance that any transaction or any other strategic alternative will occur or, if undertaken, the terms or timing thereof.