WATKINS WELLNESS EXPANDS INTO SAUNA CATEGORY THROUGH THE ACQUISITION OF SAUNA360

Vista, California, July 31, 2023 (GLOBE NEWSWIRE) — Watkins Wellness, a leader in hot tubs and aquatic fitness systems, today announced the expansion of its portfolio of personal well-being products and entry into the sauna category as a result of the pending acquisition of Sauna360 Group Oy (“Sauna360”) by Watkins Wellness’ parent company, Masco Corporation. Sauna360 is a leading global manufacturer of sauna solutions, and its portfolio of products includes traditional, infrared, and wood-burning saunas as well as steam showers, rooms and generators. These products are sold primarily in the United States, Europe and throughout the rest of the world under the Tylö, Helo, Kastor, Finnleo, and Amerec brands. The transaction is expected to close in the third quarter, subject to regulatory approval.

“We are thrilled to welcome Sauna360 to our organization and to expand our portfolio of industry-leading products aimed at promoting wellness and helping our customers feel good and live well!” said Vijaikrishna (VJ) Teenarsipur, President of Watkins Wellness. “Sauna360 brings a wealth of industry knowledge and expertise to our business. We look forward to leveraging the synergies between our businesses, which will allow us to better serve our dealer partners, consumers and, ultimately, the growing wellness market.”

“I am very pleased for Sauna360 to become part of Watkins Wellness. Sauna360’s business has grown in recent years, and becoming part of Watkins Wellness will further strengthen our capability and ambition to be a leading sauna player. The dealer distribution strategy, common focus on wellness and similar company cultures make this a true strategic fit,” said Pekka Lettijeff, President & CEO of Sauna360 Group.

Founded in 2008 as a merger between two leading sauna companies, Helo and Tylö, Sauna360 brings decades of industry knowledge and experience resulting from a strong history, with Helo’s origin dating back to 1919 and Tylö’s to 1949. The company is headquartered in Finland and has approximately 180 employees located in Finland, Sweden, the United States, and England.

About Watkins Wellness

Watkins Wellness, established in 1977 in Vista, California, is dedicated to promoting wellness to consumers to help them feel good and live well. The company’s growing portfolio of well-being products for at-home use provides multiple pathways to wellness. Our portfolio of brands includes Hot Spring® SpasCaldera® SpasFreeflow® SpasFantasy® Spas, and Endless Pools® Fitness Systems, sold predominantly through a specialty dealer network of more than 1,000 dealer partners located in 70+ countries. Watkins Wellness is a wholly owned subsidiary of Masco Corporation (NYSE: MAS).

About Masco Corporation

Headquartered in Livonia, Michigan, Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Our portfolio of industry-leading brands includes BEHR® paint; Delta® and Hansgrohe® faucets, bath and shower fixtures; and Hot Spring® Spas. We leverage our powerful brands across product categories, sales channels, and geographies to create value for our customers and shareholders. For more information about Masco Corporation, visit www.masco.com.

Safe Harbor Statement

Watkins Wellness is a subsidiary of Masco Corporation. As such, this press release contains statements that reflect views about Masco Corporation’s future performance and constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “outlook,” “believe,” “anticipate,” “appear,” “may,” “will,” “should,” “intend,” “plan,” “estimate,” “assume,” “seek,” “forecast,” and similar references to future periods. These views about future performance involve risks and uncertainties that are difficult to predict and, accordingly, Masco Corporation’s actual results may differ materially from the results discussed in these forward-looking statements. We caution you against relying on any of these forward-looking statements.

Risks and uncertainties include, among other things, the expected closing of the Sauna360 transaction and the expected benefits and synergies of the acquisition, including the expected impact on future financial and operating results and post-acquisition plans and intentions. Masco Corporation’s future performance may also be affected by the levels of residential repair and remodel activity, and to a lesser extent, new home construction, the ability to maintain strong brands and to develop innovative products, the ability to maintain its public reputation, the ability to maintain its competitive position in its industries, reliance on key customers, the cost and availability of materials, dependence on suppliers and service providers, extreme weather events and changes in climate, risks associated with international operations and global strategies, the ability to achieve the anticipated benefits of its strategic initiatives, the ability to successfully execute its acquisition strategy and integrate businesses that it has acquired and may in the future acquire, the ability to attract, develop and retain a talented and diverse workforce, risks associated with cybersecurity vulnerabilities, threats and attacks, risks associated with reliance on information systems and technology and the impact of the ongoing COVID-19 pandemic on its business and operations. These and other factors are discussed in detail in Item 1A. “Risk Factors” in Masco Corporation’s most recent Annual Report on Form 10-K, as well as in Masco Corporation’s Quarterly Reports on Form 10-Q and in other filings it makes with the Securities and Exchange Commission. The forward-looking statement in this press release speaks only as of the date of this press release. Factors or events that could cause Masco Corporation’s actual results to differ may emerge from time to time, and it is not possible to predict all of them. Unless required by law, Masco Corporation undertakes no obligation to update publicly any forward-looking statements as a result of new information, future events or otherwise.

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  • Watkins Wellness, a leader in hot tubs and aquatic fitness systems.
Krista Hydar
Watkins Wellness
760-814-0630
Krista.Hydar@watkinsmfg.com

GlobeNewswire Distribution ID 8883225

International Dialogue Centre – KAICIID Facilitates Dialogue Encounters at World Youth Day Lisbon 2023

Lisbon, Portugal., July 31, 2023 (GLOBE NEWSWIRE) — The International Dialogue Centre – KAICIID is delighted to announce its participation in World Youth Day Lisbon 2023, a significant international gathering of young people aimed at fostering unity, faith, and cultural exchange. From 1st to 6th August 2023, the enchanting city of Lisbon will play host to this momentous event, and KAICIID will be at the forefront, organizing Dialogue Encounters that promote understanding and cooperation among followers of different religious traditions, religious leaders, and policymakers.

As a unique intergovernmental organization with a dual governance structure consisting of a Council of Parties comprising States and a Board of Directors made up of religious leaders, KAICIID is committed to bridging the gaps between diverse faiths, nationalities, and generations. The Dialogue Encounters, part of the Youth Festival strand, will encompass a series of activities designed to facilitate meaningful dialogues and genuine acceptance, in line with the message of His Holiness Pope Francis, who calls for “concrete encounters” and understanding of those different from ourselves.

At the heart of KAICIID’s involvement in World Youth Day are three key activities: a panel debate with representatives from five different religions, the launch of the innovative Dialogo board game, and a screening of the poignant documentary, “Justine: A KAICIID Fellow’s Journey.”

Dr. Zuhair Alharthi, Secretary General of the International Dialogue Centre (KAICIID), expressed his enthusiasm for the forthcoming Dialogue Encounters, stating, “At KAICIID, we believe that dialogue is the key to fostering peace and harmony in our interconnected world. World Youth Day Lisbon 2023 presents an unparalleled opportunity for us to engage with young people from diverse backgrounds, nurturing a culture of dialogue and acceptance. We are excited to be hosting several activities, including a panel discussion with leaders from five different religions, the launch of the Dialogo board game in Portugal, and the screening of our latest documentary, all culminating in an audience with His Holiness Pope Francis.”

The KAICIID Dialogo! board game, designed to encourage dialogue, teamwork, and social emotional learning, will be a highlight of the Dialogue Encounters. This game has already made a significant impact worldwide, being embraced by schools, teams, and learning environments as a tool to promote skills in dialogue and peacebuilding. Dr. Alharthi emphasized, “Dialogo! is for youth and adults alike, for all those who seek to develop their skills in dialogue and inspire others to join the conversation.”

Dr. Alharthi further added, “The Dialogue Encounters we have prepared for World Youth Day will empower young people with the necessary tools to facilitate meaningful conversations and embrace diversity. We believe that by promoting dialogue and empathy, we can build bridges that connect cultures and foster global harmony.”

In a moment of exceptional significance, eight KAICIID Fellows will have the privilege of participating in an audience with His Holiness Pope Francis. During this intimate gathering, the Fellows will share their reflections on how interreligious dialogue can serve as a powerful means to create links between cultures and religions, providing a unique and enriching personal experience for all involved.

As an intergovernmental organization based in Lisbon, KAICIID is uniquely positioned to facilitate meaningful encounters between people of different faiths and cultures. By strengthening capacity at the local, national, and regional level through education on dialogue practices, increasing understanding of religious and cultural diversity through leadership for dialogue training, and promoting dialogue and social cohesion through conflict prevention, peacebuilding, and development policies, KAICIID continues to play a vital role in fostering a more inclusive and peaceful world.

To learn more about the International Dialogue Centre – KAICIID and their efforts to promote interreligious and intercultural dialogue, please visit www.kaiciid.org.

About International Dialogue Centre – KAICIID:

The International Dialogue Centre – KAICIID is an intergovernmental organization dedicated to promoting peace and understanding through interreligious and intercultural dialogue. By strengthening capacity at the local, national, and regional level through education on dialogue practices, leadership for dialogue training, and promoting dialogue and social cohesion through conflict prevention, peacebuilding, and development policies, KAICIID aims to create a more harmonious and cooperative global community.

For media inquiries, please contact: press@kaiciid.org

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Sandra Coyle
International Dialogue Centre - KAICIID
+351 211 453 501
sandra.coyle@kaiciid.org

GlobeNewswire Distribution ID 8883716

Tandlianwala Sugar Mills Limited Reports Impressive Financial Results for Nine Months Ended June 30, 2023

Karachi, Tandlianwala Sugar Mills Limited has revealed its financial results for the nine months ended June 30, 2023, showcasing a commendable performance and strong growth trajectory.

Despite economic challenges, the company achieved a net sales figure of Rs. 35,288,243,665 during the nine-month period, compared to Rs. 26,591,223,620 in the same period last year. This significant increase reflects the company's strategic approach and resilience in the face of market fluctuations.

The company's gross profit surged to Rs. 4,444,574,401 during the nine months, compared to Rs. 3,254,419,352 in the previous year, indicating efficient cost management and effective utilization of resources.

Tandlianwala Sugar Mills Limited's profit from operations soared to Rs. 3,683,071,027, demonstrating a remarkable increase compared to Rs. 2,368,078,205 in the corresponding period last year.

While no cash dividend or bonus issue was recommended by the Board of Directors, the company's profit after taxation reached an impressive Rs. 1,253,103,896, compared to Rs. 779,137,431 in the previous year.

Earnings per share (basic and diluted) stood at Rs. 10.65 for the nine months, highlighting the company's commitment to delivering value to its shareholders.

The exceptional financial results reflect Tandlianwala Sugar Mills Limited's strategic vision, robust operational performance, and prudent financial management, positioning the company as a prominent player in the sugar industry. Investors and stakeholders can confidently look forward to the company's future prospects as it continues to steer ahead with strength and resilience in a dynamic market environment.

First Punjab Modaraba Reports Encouraging Financial Results for the Three Months Ended March 31, 2023

Lahore, First Punjab Modaraba, a reputable financial institution, announced its financial results for the three months ended March 31, 2023. The Board of Directors, in a meeting held on July 30, 2023, approved the accounts for the said period.

Despite the challenging economic climate, the Modaraba demonstrated resilience and recorded encouraging financial performance during the three-month period. The Unconsolidated Profit and Loss Account (Un-Audited) revealed a profit of Rs. 1,104,830,000, with earnings per certificate (basic and diluted) of Rs. 0.03. This signified a positive trend for the Modaraba and showcased its efficient management and strategic decision-making.

Furthermore, the Consolidated Profit and Loss Account (Un-Audited) displayed an operating loss of Rs. 8,710,742, and after accounting for provisions and impairment adjustments, the Modaraba reported a profit of Rs. 673,300,000. The earnings per certificate (basic and diluted) for the consolidated account stood at Rs. 0.02.

During the Board meeting, it was decided that no interim cash dividend or bonus issue would be granted to the shareholders for the specified period. However, the Modaraba's management remains committed to pursuing opportunities for growth and delivering value to its investors.

In light of these financial results, the Share Transfer Books of the Company will remain closed from - N/A - to - N/A - (both days inclusive). Investors who have transferred their units before the closing date will be entitled to the specified benefits during this period.

First Punjab Modaraba's dedication to transparency and accountability has earned it the trust and confidence of its investors. The management looks forward to continuing this positive trajectory and aims to strengthen its position in the market, offering attractive returns and opportunities for its valued investors.

Ibrahim Holdings Purchases Significant Number of Shares in Ibrahim Fibres Limited

Karachi, Ibrahim Holdings (Pvt.) Limited, a substantial shareholder of Ibrahim Fibres Limited, has executed significant share purchases on two separate occasions.

According to the details provided by Ibrahim Fibres Limited, Ibrahim Holdings (Pvt.) Limited carried out the following transactions:

1. On July 26, 2023, Ibrahim Holdings (Pvt.) Limited acquired 200 shares at a rate of 250.00 per share through CDC (Central Depository Company).

2. On July 27, 2023, another substantial purchase was made by Ibrahim Holdings (Pvt.) Limited, wherein they bought 2000 shares at a rate of 250.00 per share through CDC (Central Depository Company).

These transactions indicate a notable increase in Ibrahim Holdings' stake in Ibrahim Fibres Limited. Such substantial investments made by the shareholder may indicate their confidence in the company's prospects and future growth potential.

As per regulations, transactions by directors, CEOs, executives, their spouses, and substantial shareholders are required to be disclosed to ensure transparency and fair market practices. The execution of these transactions has been duly reported to the relevant authorities and stock exchanges in compliance with the applicable regulations.

Investors and stakeholders will likely keep a close watch on the developments at Ibrahim Fibres Limited and its financial performance, given the substantial investment by Ibrahim Holdings (Pvt.) Limited.

Lucky Cement Limited Executes Buy-Back Plan, Repurchases 224,000 Shares at PKR 584.73 per Share

Karachi, In a significant move, Lucky Cement Limited has successfully implemented its buy-back plan, repurchasing 224,000 of its own shares at a weighted average price of PKR 584.73 per share during the PSX Trading Session on July 27, 2023. This action was taken in accordance with the Special Resolution passed in the Extraordinary General Meeting held on May 24, 2023, and is in compliance with Regulation 6(e) of Listed Companies (Buy-Back of Shares) Regulations, 2019. The company's proactive approach reflects its commitment to optimizing shareholder value and capitalizing on growth opportunities in the market.

ALHAMRA ISLAMIC MONEY MARKET FUND Announces Daily Dividend of Re. 0.0535 per unit for July 27, 2023

Karachi, MCB-Arif Habib Savings and Investments Limited, the management company of ALHAMRA ISLAMIC MONEY MARKET FUND (ALHIMMF), has announced the approval of a daily distribution on behalf of its Board of Directors.

A dividend of Re. 0.0535 per unit will be disbursed to the unit holders whose names appeared in the unit holder register at the close of business on July 27, 2023. This daily dividend payout reflects the fund's commitment to providing investors with regular income and attractive returns on their investments.

ALHAMRA ISLAMIC MONEY MARKET FUND has established itself as a reliable and Shariah-compliant investment option, offering investors the potential for stable and consistent income. The fund's expert management and adherence to Islamic principles have positioned it as a preferred choice for investors seeking liquidity, security, and ethical investment solutions in the financial markets.

UBL Fund Managers Approves Interim Cash Dividend of Re.0.7705 per Unit for UBL LIQUIDITY PLUS FUND

Karachi, In a recent development, UBL Fund Managers Limited has announced the approval of an interim cash dividend for UBL LIQUIDITY PLUS FUND. The Chief Executive Officer, acting under the authority granted by the Board of Directors, has given the green light to distribute Re.0.7705 per unit, which represents a dividend of 0.77% for the period ending July 30, 2023. This interim distribution will be credited to unit holders whose names were registered in the unit holders' list at the close of business on July 28, 2023. The move reflects the company's commitment to delivering value to its investors and enhancing their investment experience.

ALHAMRA DAILY DIVIDEND FUND Declares Daily Dividend of Re. 0.048 per unit for July 28, 2023

Karachi, MCB-Arif Habib Savings and Investments Limited, the management company of ALHAMRA DAILY DIVIDEND FUND (ALHDDF), has announced the approval of a daily distribution on behalf of its Board of Directors.

A dividend of Re. 0.048 per unit will be disbursed to the unit holders whose names appeared in the unit holder register at the close of business on July 28, 2023. This daily dividend payout reflects the fund's commitment to providing investors with regular income and attractive returns on their investments.

ALHAMRA DAILY DIVIDEND FUND continues to offer investors a reliable investment option that provides daily dividends, ensuring regular income for its unit holders. The fund's prudent management and strategic approach have positioned it as a preferred choice for investors seeking stable returns in the financial markets.

JDW Sugar Mills Limited Releases Quarterly Report for the Period Ended June 30, 2023

Karachi, JDW Sugar Mills Limited has taken a significant step in ensuring transparency and timely disclosure by announcing the transmission of its Quarterly Report for the period ended June 30, 2023, through PUCARS. Investors and stakeholders can now access the comprehensive report, containing crucial financial and operational insights, on the company's official website. By sharing this information promptly, JDW Sugar Mills showcases its commitment to keeping shareholders and the financial community well-informed about its performance and strategic direction during the specified quarter.

PAKISTAN CASH MANAGEMENT FUND Announces Daily Dividend of Re. 0.0281 per unit for July 28, 2023

Karachi, MCB-Arif Habib Savings and Investments Limited, the management company of PAKISTAN CASH MANAGEMENT FUND (PCF), has announced the approval of a daily distribution on behalf of its Board of Directors.

A dividend of Re. 0.0281 per unit will be disbursed to the unit holders whose names appeared in the unit holder register at the close of business on July 28, 2023. This daily dividend payout reflects the fund's commitment to providing investors with regular income and attractive returns on their investments.

PAKISTAN CASH MANAGEMENT FUND has established itself as a reliable and secure investment option, offering investors the potential for stable and consistent income. The fund's prudent cash management strategies and expert management have positioned it as a preferred choice for investors seeking liquidity and security in the financial markets.

PSO Leads Consortium to Establish Greenfield Refinery Project in Pakistan, Signs Strategic MoUs with Foreign and Local Investors

Karachi, Pakistan State Oil Company Limited (PSO) has taken a significant step towards strengthening the country's energy infrastructure by leading a consortium of foreign and local investors to set up a Greenfield Refinery Project in Pakistan.

In a momentous ceremony, PSO signed separate Memorandums of Understanding (MoUs) with esteemed partners to foster cooperation and collaboration in forming a joint investment strategy for the Greenfield Oil Refinery Project. The foreign parties involved are China Road and Bridge Corporation and Monarch Mena, while the local consortium includes Oil and Gas Development Company Limited, Pakistan Petroleum Limited, and Government Holdings (Private) Limited.

The strategic nature of this project holds promising prospects for Pakistan's petroleum products supply chain optimization and substantial savings in foreign exchange by reducing the import bill. By establishing a state-of-the-art refinery, the nation will enhance its refining capacity and reduce its reliance on imports, promoting self-sufficiency in the energy sector.

This milestone collaboration highlights the commitment of all parties involved in leveraging their expertise and resources for the country's sustainable economic growth and energy security. The Greenfield Refinery Project is expected to play a pivotal role in fueling Pakistan's progress and meeting the rising demand for petroleum products in the region.