NewzIntel.com

Blog

  • MIL-OSI USA: Market dynamics vary at key natural gas pricing hubs

    Source: US Energy Information Administration

    In-brief analysis

    October 23, 2024

    Data source: U.S. Energy Information Administration
    Note: $/MMBtu=dollars per million British thermal units

    Pricing hubs provide transactional flexibility to buyers and sellers in the natural gas industry. The integrated North American market has close to 200 pricing hubs, which vary by size, location, type, liquidity, and age. Pricing hubs convey market information and make it easier for buyers and sellers to arrange natural gas deals in physical and financial markets across many time periods: intra-day, daily, weekly, balance-of-month, monthly, seasonally, and annually. Changes in prices at natural gas hubs tend to be reflected in movements in prices at nearby power market hubs or zones. A mix of private price reporting agencies and exchanges offer services and platforms to help buyers, sellers, and market observers obtain pricing information. Pricing hubs are dynamic; new ones are established or are retired based on market conditions and consumer preferences.

    Prices can vary substantially at hubs based on many factors: geographic location, unique or seasonal weather conditions, proximity to energy supplies, prevalence of constraints or bottlenecks, access to substitutes, and infrastructure availability.

    We examine several key pricing hubs below to better understand regional natural gas pricing.

    A closer look at key pricing hubs around the United States

    South Central region
    Henry Hub in Erath, Louisiana, has many features that make it an important pricing benchmark: pipeline interconnectivity, proximity to storage and production, access to diverse markets, and lots of buyers and sellers of natural gas, especially with growing export markets for natural gas. Henry Hub is the delivery location for natural gas futures contracts transacted on the New York Mercantile Exchange (NYMEX) that go to physical settlement. Most natural gas at U.S. trading hubs is priced relative to Henry Hub, which is also an increasingly relevant benchmark for global liquefied natural gas (LNG) purchases, as U.S. exports increase and as Henry Hub price indexation is used to price deliveries at U.S. export terminals.

    The Houston Ship Channel (HSC) is in southeastern Texas in the Port of Houston, surrounded by numerous natural gas and processing plants along the Gulf Coast. The HSC market is diverse, providing price transparency and liquidity for exports markets, industrial and process gas uses, and power generation. Production from the nearby Eagle Ford shale formation accounted for about 6% of total marketed natural gas in the United States last year. Growing LNG exports and related facilities that process the hydrocarbon gas liquids present in natural gas in this region have also further increased the significance of this hub, as have increased natural gas exports via pipeline to Mexico.

    The Waha natural gas pricing hub is in West Texas near Permian Basin production activities and helps natural gas market participants get a sense of pricing in West Texas and southeastern New Mexico. The Permian Basin produced 19% of total U.S. natural gas in 2023, with most coming from associated gas from crude oil wells. Because natural gas production in the Permian Basin has increased more rapidly than natural gas pipeline takeaway capacity, Waha prices are typically lower than those at other hubs, sometimes turning negative.

    Pacific region
    SoCal Citygate is the major natural gas pricing hub in Southern California in the Los Angeles Basin, with substantial natural gas consumption by the various local sectors, averaging about 2.5 billion cubic feet per day (Bcf/d) in 2023. SoCal Citygate prices reflect the price of moving natural gas from diverse nearby basins and Mexico into the Los Angeles metro area’s distribution system. Prices also include the cost of transporting natural gas from the California border to the distribution system in the greater Los Angeles Basin. SoCal Citygate traded at prices that were historically low for this hub through the first eight months of 2024, due to milder winter conditions, increased solar generation, more natural gas in storage, and increased hydroelectric power generation.

    Opal is a key natural gas pricing hub in southwestern Wyoming. The Kern River Gas Transmission pipeline, which is connected to the Opal Hub, is the only interstate pipeline that delivers natural gas directly from the Rocky Mountain region to Southern California. This pipeline receives about 25% of the Rocky Mountain’s natural gas supply, and its deliveries account for approximately 25% of California’s natural gas demand, according to pipeline owner BHE. Operations at Opal’s large nearby processing plant often influence price volatility.

    Northwest Sumas is the key pricing hub along the British Columbia-Washington border for natural gas in the Pacific Northwest, providing customers in the Pacific Northwest with natural gas supply diversity. Sumas prices reflect market conditions in the Pacific Northwest, such as the state of the regional hydroelectric market, natural gas storage availability, space heating needs, upstream gas conditions in British Columbia, and increasing power burn.

    Midwest region
    At Chicago Citygate in Illinois, seven major interstate pipelines transporting natural gas from Canada, the Southwest, and the Gulf of Mexico converge. Chicago Citygate, the primary pricing hub for end users in Chicago and parts of the upper Midwest, is linked to three pipelines that transport natural gas from Henry Hub, increasing the linkage of prices between the two hubs. This market is also close to storage, and abundant infrastructure helps to moderate seasonal and daily price volatility at this hub.

    Northeast region (defined as New York, New England, and Pennsylvania)
    Algonquin Citygate is an important pricing hub in the northeastern United States, and prices at this hub reflect natural gas market dynamics in Boston, Massachusetts, and elsewhere in New England. New England relies heavily on natural gas for heating in the winter months, but supplies are constrained by the region’s limited natural gas pipeline capacity and changing fuel mix. Price volatility at Algonquin Citygate is typically related to these periods of peak demand.

    Transco Zone 6 NY is a key pricing hub primarily serving New York City. Named after the Transcontinental Gas Pipe Line Company, Transco is the main pipeline serving the U.S. eastern seaboard. Price volatility at Transco Zone 6 NY tends to be reflected in locational marginal prices in the New York Independent System Operator’s zones in New York City (Zone J) and Long Island (Zone I). Historically, disruptions or constraints along this long-distance pipeline quickly affected prices, but recently, production in the Appalachian Basin has muted those effects. Competing needs for deliveries along the Transco network can contribute to higher prices at Transco Zone 6 NY, especially in the winter.

    Eastern Gas South (formerly Dominion South) serves as a pricing hub in the mid-Atlantic and is one of the most important trading hubs in the United States. In addition to being a key point of liquidity for buyers and sellers of Appalachian natural gas, this benchmark has undergone substantial growth in production over the past decade, accounting for 29%, or 37.7 Bcf/d, of gross natural gas production in the United States last year. Prices in this area tend to be discounted to the Henry Hub price because of regional productivity, supply surpassing local demand, and transportation of natural gas supply out of Appalachia being constrained by takeaway pipeline capacity.

    We provide the locations of major hubs in our U.S. Energy Atlas geospatial application in the Natural Gas Infrastructure and Resources layer.

    Principal contributors: Andrew Iraola, Chris Peterson

    MIL OSI USA News –

  • MIL-OSI USA: A Long, Long Time Ago, in Galaxies Near and Far

    Source: US State of Connecticut

    Until now, space exploration has been dominated by two categories of missions – flagship missions, like the James Webb and Hubble Space Telescopes, and smaller-scale missions – with little in between. 

    Cara Battersby is an associate professor of physics at UConn.

    But a “happy medium” can help fill in the gaps of information gleaned from these two mission types. Recognizing this, NASA’s Probe Explorers program recently selected two probe designs to receive $5 million funding for development over the next 12 months. The two designs will then compete to receive $1 billion funding to get off the ground – literally – and launch in 2032. 

    One of these probe concepts, PRIMA (PRobe far-Infrared Mission for Astrophysics), has been developed by an international team including UConn physics associate professor Cara Battersby, who leads one of the project’s key science objectives.  

    If selected for launch, it will use far-infrared sensing technology to illuminate the secrets of the universe, helping scientists understand our own and surrounding galaxies.

    Uncovering Galactic Secrets in Hidden Wavelengths

    “This observatory is designed to fill this enormous gap in wavelength coverage between the mid-infrared all the way to the submillimeter,” Battersby says.  

    The James Webb telescope can “see” in the mid-infrared range of electromagnetic radiation, while the ALMA telescope in Chile can “see” in the submillimeter range. Everything in between is known as the “far infrared” range. This frequency of radiation isn’t visible to the human eye, or even from Earth itself, Battersby points out. 

    “The Earth’s atmosphere completely absorbs this wavelength of light that comes from interstellar space – distant galaxies, forming planets,” she says. “So there’s really no existing or planned telescope that can cover this wavelength gap. The fact that NASA is supporting the next phase for this mission is really exciting, and the science that it enables it is breathtaking.” 

    In space, PRIMA would use this wavelength range to understand the time period between “cosmic dawn” and “cosmic noon,” which encompasses the first era of galaxy formation and the peak of cosmic star formation in the universe. It would also uncover new data to explain how planets and their atmospheres develop. Battersby herself is leading the star and planet formation group on the PRIMA team. 

    In other words, PRIMA would provide the entire astronomy community with critical insights from this key wavelength range that can help us understand our cosmic origins: from the formation of stars and planets to the buildup of elements and the evolution of galaxies over cosmic time. 

    Battersby compares the current state of astrophysics to looking at a crowd of people and attempting to guess their ages, without knowing much about human development. If you didn’t have background knowledge – that children are generally shorter than adults, for instance – it would be impossible. 

    But if, instead, you understand that people generally get taller as they mature, and that there are exceptions (some people are always very short; some are tall from a young age), you can start to sort people visually and make educated guesses about how old they are. 

    Likewise, if you understand what distinguishes an older galaxy from a younger one, you can start to piece together the story of how space took shape over billions of years. 

    “We see these pictures of populations of galaxies, and we don’t know what they were like when they first formed and how they grew. What controls how big a galaxy can get or how many stars it can form? Does it make a really big black hole or really small black hole?” Battersby says. “In order make sense of the data, you need to uncover pictures of the galaxies when they were young and follow them as they grow. Only then can you put the timeline together.”

    Cara Battersby (right) and graduate student Rachel Lee (left) at the Max Planck Institute for Astronomy, in Heidelberg, Germany. (Courtesy of Cara Battersby)

    Enriching Scientific Community on Earth

    In addition to the sheer scientific advancement potential, Battersby is excited about PRIMA’s ability to enrich the entire astronomy community – and provide UConn students with some truly once-in-a-lifetime research opportunities. 

    “A large percentage of the time the observatory is actually operating will be devoted to the astronomy community,” she says. “They can put in proposals to do their favorite science [with PRIMA]. We actually had a community call for proposals, and we had about 70 people write papers about what they would like to do with the telescope – so there’s a ton of community interest.” 

    And if PRIMA is selected to launch, that means Battersby’s students at UConn will have a chance to get involved with this historic project. In fact, one of her graduate students, Rachel Lee, is already nearing publication on a paper exploring some potential applications for PRIMA. 

    “I’m really excited about what this opportunity will mean for students at UConn moving forward, because there will be a chance to make meaningful impacts on this mission that has a very good likelihood of going into space,” she says. “That’s really unique. I certainly never had that opportunity as a student. Working on this is one of the coolest things I’ve done in my career, and now that’s something that UConn students could have a chance to do – they could be part of this whole team.” 

    PRIMA’s principal investigator is Jason Glenn of the NASA Goddard Space Flight Center. 

    MIL OSI USA News –

  • MIL-OSI USA: Research Assesses Assets and Challenges for North Hartford Food Environment

    Source: US State of Connecticut

    Links between eating a balanced diet and overall health are well-established. But for people living in “food swamps” these healthy options just aren’t readily available.

    A new study in the Journal of Human Behavior in the Social Environment highlights the lived experiences of women of color living in a food swamp in North Hartford, and both the challenges and opportunities for accessing healthy food in their neighborhood.

    The study was a collaboration between the UConn Department of Allied Health Sciences, the Rudd Center for Food Policy and Health, the UConn School of Medicine, and North Hartford community members.

    Food swamps are areas characterized by an oversaturation of fast food and other highly processed food options. They also have a lack of grocery stores with fresh produce.

    “Food swamps are areas where residents don’t have access to fresh, healthy foods,” says Curtis Antrum, lead author of the study and graduate assistant. “Instead, they are surrounded by establishments like fast food or corner stores. People of color in poorer neighborhoods are disproportionately impacted by food swamps.”

    The researchers used a method known as Photovoice for this study. This research method involves study participants taking photos, in this case, of the food environment in their neighborhood, and adding voice notes narrating their experience.

    This method empowers participants to engage in citizen science by sharing more detailed and personal information with the researchers.

    “Photovoice actually prompts a focus on action,” says Kristen Cooksey Stowers, assistant professor in the Department of Allied Health Sciences and senior author on the paper. “Not just engaging lived experience and documenting problems and health inequities, but also keeping the dedication to engage lived experience and community voice when you are carving out and evaluating solutions.”

    From these accounts, the researchers identified some key themes in the challenges participants face, such as a lack of access to grocery stores; advertising and marketing that push “junk” food; lack of transportation to access healthier options; unaffordability of fresh produce; the impact of junk food on their children’s school performance; the prominence of alcoholic beverages over health alternatives; and the quality of fresh food at their local stores.

    “Anyone paying attention knows that North Hartford residents have been impacted by degradation and segregation; however, through the Photovoice approach, our lived experiences within this food swamp are urgent and impossible to ignore,” Mary Holter, a member of the Community Action Task Force (CATF).

    Curtis Antrum and Kristen Cooksey Stowers at the Gallery Walk for the Invest Health Hartford Team. (Jason Sheldon/UConn Photo)

    Participants did identify positive aspects of their food environment as well, such as the availability of culturally relevant foods for the city’s large Caribbean and Hispanic populations, like plantains and yucca. However, participants note that this does not fully meet their needs in the absence of other produce.

    The paper concludes by highlighting the assets the community already has and how these can be bolstered by policy changes and increased funding.

    “The message that we heard from [community members] was that they want more investment in our community assets,” Cooksey Stowers says.

    This paper reflects the overarching aim of Cooksey Stowers’ lab, the Health Equity Lab for the People (HELP), in shifting the field away from a negative framing of problems, but instead places the focus on solutions.

    Cooksey Stowers’ lab hopes to change this by empowering community members to have their voices heard by researchers and policy makers.

    “It’s very important from a personal level that we can reach them where they are, so they can participate actively and see the results,” Antrum says.

    The team plans to replicate this pilot study with a larger sample that includes men and women and will look at the impact of poor nutritional health on students’ educational outcomes. The team has also looked at how policies create food swamps. For example, in Hartford, corner stores and other non-grocery establishments that sell food were coded as grocery stores, giving policy makers an inaccurate picture of food access across the city.

    “The Photovoice Project is being shared in multiple venues, and as the saying goes, a picture is worth a thousand words. But in this case, the voice and lived experience of residents are captured alongside the photos, substantiating a more compelling case for the change that is required to move the needle towards health equity,” says Angela Harris of Phillips Metropolitan CME Church.

    Working with community partners, Cooksey Stowers successfully lobbied to have the definition updated to require “grocery stores” sell a certain percentage of fresh foods and a square footage requirement in 2022.

    “That was a barrier to change,” Cooksey Stowers says. “Because as we were presenting data to folks outside of Hartford trying to recruit a supermarket operator, trying to get state-level support, on paper they were seeing that there were grocery stores there.”

    Other policies can help restrict new fast-food establishments from opening while encouraging community-owned health-promoting businesses like cafes and restaurants with healthy options and fitness establishments. They presented this policy proposal to Hartford policy makers at the end of September.

    “They are envisioning a health-topia, not an area that is filled with dialysis treatments,” Cooksey Stowers says. “They want to focus on prevention, not just treatment.”

    “To make a real impact, we need sustainable investment and policy changes to turn food deserts and swamps into spaces that promote health, equity, and opportunity,” says Denise Holter, CATF chair. “This isn’t just about access to healthy, affordable food—it’s about ensuring dignity, choice, and a brighter future for everyone.”

    This work relates to CAHNR’s Strategic Vision area focused on Promoting Diversity, Equity, Inclusion, and Justice and Enhancing Health and Well-Being Locally, Nationally, and Globally.

    Follow UConn CAHNR on social media

    MIL OSI USA News –

  • MIL-OSI USA: Electric, Hybrid Buses Coming to UConn as Next Generation of Clean Transit

    Source: US State of Connecticut

    For more than 100 years, Storrs students have been able hop on buses of varying kinds – from a 1920s jalopy to today’s sleekly designed “Ice Bus” – on their way to their classes, residence halls, and activities around campus.

    While UConn Storrs has grown and even the school’s name has evolved, one thing has remained the same: The buses have been powered by fossil fuels, which has been the standard technology for decades in mass transit around the world.

    But that’s about to change. As the State of Connecticut pursues more clean energy options, it is providing two new battery electric buses to the Windham Regional Transit District (WRTD), which operates UConn’s bus system, for use on the Storrs campus starting in the spring semester.

    The electric buses produce no tailpipe emissions and provide all the features that today’s students need for a comfortable and productive ride. Those amenities include three-position bicycle racks, phone charging ports, comfortable silica cushion seats, on-board electronic information displays, and other features envisioned in the Customer Experience Action Plan of the Connecticut Department of Transportation (CTDOT).

    The new buses are part of a larger initiative by CTDOT and state Department of Energy & Environmental Protection (DEEP) in partnership with transit providers to transition from diesel to zero-emissions models under an executive order that Gov. Ned Lamont issued in 2021.

    The new 32-seat electric buses fit ideally into UConn’s clean-energy transportation vision, which is part of the broader plan to attain carbon neutrality on campus by 2030. Some of the related initiatives in the works include installing a hydrogen fuel dispenser at Storrs next spring; replacing 24 aging utility fleet vehicles with hydrogen-fueled models; and adding nine hybrid buses, which are currently on order.

    Many more electric vehicle charging stations are also being added at Storrs, UConn Health, and other locations statewide. Like the hydrogen fuel station, they will be accessible for public use.

    “Transportation is a critical piece in the puzzle at UConn as we work toward carbon neutrality by 2030 and the goal of net carbon zero by 2040,” says Stan Nolan, UConn’s interim associate vice president for facilities operations, which include transportation and fleet services.

    “Transitioning our University vehicles to models that operate on more sustainable fuel sources will significantly enhance our progress, along with providing amenities like the charging stations to support and encourage others to adopt green-friendly transportation in our community,” he says.

    All told, the University’s fleet vehicles are driven a combined total of about 2,000 miles per day on and around its campuses. About three-quarters of them run on gasoline or diesel fuel, but that percentage is decreasing as vehicles reach the end of their serviceable lives and many are being replaced with clean-energy vehicles.

    President Radenka Maric, an internationally recognized expert in clean energy technology, says the impact of transitioning UConn’s fleet to green-energy sources will be an important step in the work toward carbon neutrality.

    It also establishes UConn and the State of Connecticut as a partnership model for other states to emulate and underscores ideals of UConn’s Strategic Plan, in which the wellness of people and the planet – starting right on its campuses – are among the six top focus areas.

    The two electric buses are expected to be added to the Storrs routes in the spring semester once the charging infrastructure is installed and ready for use at the WRTD bus garage.

    The electric buses can run for about 150 to 180 miles per charge in winter, and about 200 to 220 miles per charge in summer. That range is ideal for a location like the Storrs campus, where the buses are constantly circulating on a typical day and the per-charge mileage is expected to be on the higher side since they will travel on flat topography at low speeds, officials say.

    They will be around the same size as the current buses, most of which are seven or eight years old. Many of those buses will be taken off the road in coming years as they reach the end of their service life, with more clean-energy vehicles envisioned in their place.

    The two new electric buses will include UConn’s logo and other recognizable branding, along with a white noise sound for safety to ensure pedestrians can hear the bus even if they are wearing headphones, ear buds, or other clothes and gear.

    The new buses also will include the current audio warnings that are broadcast to indicate to people nearby whenever a bus is turning.

    The two new electric buses being deployed at Storrs are part of the State of Connecticut’s initiative to electrify at least 30% of the medium and heavy-duty transit fleet statewide by 2030, and 100% by 2035.

    Of the 50 new buses being delivered this year, 34 have been deployed across the various CTtransit divisions in addition to 11 already operating in the Hamden and Stamford areas from the 2022 Electric Bus Pilot program.

    “Transitioning our fleet from older diesel models to newer zero-emission buses reduces greenhouse gas emissions and harmful air pollution,” says Benjamin Limmer, CTDOT’s Bureau Chief of Public Transportation. “These state-of-the-art buses are quieter, provide a smoother ride, and offer additional amenities that today’s riders deserve. We’re excited to see them running on the Storrs campus this spring.”

    Though UConn is moving into a new generation of clean energy mass transit, bus service at Storrs dates back to the days when it was still the Connecticut Agricultural College.

    A news story from a 1921 version of the Connecticut Campus student paper includes a colorful description of transportation options in previous years, including a 25-passenger Kissel car that often lost its front wheel on Route 195’s Spring Hill and a faster but short-lived Studebaker.

    One of the most famous – or infamous, some would say – was an old Pierce-Arrow they jokingly called the “Black Maria,” a common nickname for police vehicles.

    “Students will remember a good many times when they gave vent to their feelings because of Maria’s mulish behavior,” the newspaper wrote in an April 1921 profile of the driver, who transported students three times daily between Willimantic and the campus.

    The idea of a 32-seat passenger bus would have been inconceivable to students then.

    In fact, electricity had only arrived on campus starting in 1906 – and only in the chapel, library, and dining hall, not the dorms. Now, almost 120 years later, the two new electric buses and nine new hybrid buses represent the next generation of transportation at UConn.

    “UConn has always worked to ensure that its campuses are provided with the most modern, user-friendly, and socially responsible transportation options available. The addition of the new electric buses fits perfectly into that mission,” says Andy Kelly, UConn’s associate director of logistics in its facilities operations division.

    MIL OSI USA News –

  • MIL-OSI Security: EUR 91 million worth of counterfeit and substandard food seized in Europe-wide operation

    Source: Europol

    OPSON XIII results:11 criminal networks dismantled,104 arrest warrants issued,184 search warrants issued,278 persons reported to judicial authorities,5 821 checks and inspections performed.In total, goods valued at over EUR 91 million were taken off the market.Food fraud, the counterfeiting of food and beverages, and the abuse of geographical indications constitutes a significant and serious crime area which needs to be tackled…

    MIL Security OSI –

  • MIL-OSI: Form 8.3 – [KEYWORDS STUDIOS PLC – 22 10 2024] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 KEYWORDS STUDIOS PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 22 OCTOBER 2024
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 1p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 1,339,669 1.5930    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 1,339,669 1.5930    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    1p ORDINARY SALE 1,500 2446.04p
    1p ORDINARY PURCHASE 700 2447.958p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 23 OCTOBER 2024
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at http://www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI: Form 8.3 – [LEARNING TECHNOLOGIES GROUP PLC – 22 10 2024] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 LEARNING TECHNOLOGIES GROUP PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 22 OCTOBER 2024
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 0.375p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 10,077,533 1.2721    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 10,077,533 1.2721    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    0.375p ORDINARY PURCHASE 85 93.155p
    0.375p ORDINARY PURCHASE 19,000 93.7068p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 23 OCTOBER 2024
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at http://www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI: Southern Michigan Bancorp, Inc. Announces Third Quarter 2024 Earnings

    Source: GlobeNewswire (MIL-OSI)

    COLDWATER, Mich., Oct. 23, 2024 (GLOBE NEWSWIRE) — Southern Michigan Bancorp, Inc. (OTC Pink: SOMC) announced third quarter net income of $2,586,000, or $0.57 per share, compared to net income of $2,767,000, or $0.61 per share, for the third quarter of 2023. For the first nine months of 2024, Southern earned $7,751,000 or $1.70 per share, compared with $8,468,000 or $1.86 per share, for the same nine-month period one year ago.  

    John R. Waldron, President and Chief Executive Officer of Southern Michigan Bancorp, Inc., stated, “For the first time, our bank has surpassed $1.5 billion in total assets, a significant milestone that reflects our ongoing growth and expansion across all markets. While our earnings continue to be impacted by the current interest rate environment, we remain encouraged by the strength of our core deposits and our ability to maintain asset quality. Our focus on disciplined growth strategies has positioned us well, even amid challenges. As we navigate the shifting economic landscape, we are confident in our capacity to sustain momentum and further strengthen our balance sheet.”

    As of September 30, 2024, total loans and deposits grew during the first nine months totaling $1.084 billion and $1.266 billion, respectively.

    The allowance for credit losses totaled $12,363,000, or 1.14% of loans on September 30, 2024. Net loan charge-offs totaled $20,000 for the first nine months of 2024, compared to net charge-offs of 7,000 for the first nine months of 2023. Non-performing loans as a percentage of total loans were 0.08% on September 30, 2024 compared to 0.09% on December 31, 2023.

    The annualized return on average assets for the nine-month periods ended September 30, 2024 and September 30, 2023 was 0.70% and 0.84% respectively. The annualized return on average equity was 10.18% for the first nine months of 2024 compared to 12.42% for the first nine months of 2023. The tax equivalent net interest margin for the nine-month periods ending September 30, 2024 and 2023 was 2.94% and 3.18%, respectively.

    Southern Michigan Bancorp, Inc. is a bank holding company and the parent company of Southern Michigan Bank & Trust. It operates 18 offices within Branch, Calhoun, Hillsdale, Jackson, Kalamazoo and St. Joseph Counties providing a broad range of consumer, business and wealth management services throughout the region.

    This press release contains forward-looking statements that are based on management’s beliefs, assumptions, current expectations, estimates and projections about the financial services industry, the economy, and Southern Michigan Bancorp, Inc. Forward-looking statements are identifiable by words or phrases such as “expected,” “begin,” and other similar words or expressions. All statements with reference to a future time period are forward-looking. Management’s determination of the provision and allowance for credit losses and other accounting estimates, such as the carrying value of goodwill, other real estate owned, mortgage servicing rights and the fair value of investment securities, involves judgments that are inherently forward-looking. The future effect of changes in the financial and credit markets and the national and regional economy on the banking industry, generally, and Southern Michigan Bancorp, Inc., specifically, are also inherently uncertain. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions (“risk factors”) that are difficult to predict with regard to timing, extend, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what may be expressed in or implied by such forward-looking statements. Southern Michigan Bancorp, Inc. does not undertake to update forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements.

     
    SOUTHERN MICHIGAN BANCORP, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
    (In thousands, except share data)              
      September 30,
    2024    		   December 31,
    2023    		  
    ASSETS            
    Cash and cash equivalents $ 121,022   $ 71,620  
    Federal funds sold   264     1,468  
    Securities available for sale, at fair value   160,771     169,740  
    Securities held-to-maturity, at amortized cost   60,129     61,600  
    Loans held-for-sale   871     169  
    Loans, net of allowance for credit losses of $12,363 – 2024, $11,697 – 2023   1,071,234     1,024,720  
    Premises and equipment, net   23,406     23,114  
    Net cash surrender value of life insurance   22,970     22,472  
    Goodwill   13,422     13,422  
    Other intangible assets, net   120     147  
    Other assets   36,314     26,323  
    TOTAL ASSETS $ 1,510,523   $ 1,414,795  
                 
    LIABILITIES            
    Deposits:            
    Non-interest bearing $ 219,072   $ 226,178  
    Interest bearing   1,047,024     931,793  
    Total deposits   1,266,096     1,157,971  
                 
    Securities sold under agreements to repurchase and overnight borrowings   1,688     1,738  
    Accrued expenses and other liabilities   17,996     15,703  
    Other borrowings   82,900     106,900  
    Subordinated debentures   34,705     34,653  
    Total liabilities   1,403,385     1,316,965  
                 
    SHAREHOLDERS’ EQUITY            
    Preferred stock, 100,000 shares authorized; none issued or outstanding   –     –  
    Common stock, $2.50 par value:            
    Authorized – 10,000,000 shares            
    Issued and outstanding – 4,563,995 shares in 2024,
    4,533,637 shares in 2023    		   11,406     11,330  
    Additional paid-in capital   13,225     13,126  
    Retained earnings   95,498     89,808  
    Accumulated other comprehensive loss   (12,991 )   (16,434 )
    Total shareholders’ equity   107,138     97,830  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,510,523   $ 1,414,795  
                 
     
    Southern Michigan Bancorp, Inc.
    condensed consolidated statements of income (unaudited)
    (In thousands, except per share data)
      Three Months Ended
    September 30,    		   Nine Months Ended
    September 30,    		  
      2024   2023   2024   2023  
    Interest income:                        
    Loans, including fees $ 16,444   $ 14,563   $ 47,748   $ 39,579  
    Federal funds sold and balances with banks   1,313     786     3,630     2,360  
    Securities:                        
    Taxable   1,465     1,567     4,512     4,655  
    Tax-exempt   309     315     904     961  
    Total interest income   19,531     17,231     56,794     47,555  
                             
    Interest expense:                        
    Deposits   7,567     5,777     21,655     14,516  
    Other   1,571     1,519     4,701     3,389  
    Total interest expense   9,138     7,296     26,356     17,905  
    Net interest income   10,393     9,935     30,438     29,650  
    Provision for credit losses   425     25     661     950  
    Net interest income after provision for credit losses   9,968     9,910     29,777     28,700  
                             
    Non-interest income:                        
    Service charges on deposit accounts   439     422     1,270     1,248  
    Trust fees   741     629     2,041     1,787  
    Net gains on loan sales   181     71     419     186  
    Earnings on life insurance assets   169     157     498     456  
    ATM and debit card fee income   465     452     1,356     1,339  
    Other   177     197     608     644  
    Total non-interest income   2,172     1,928     6,192     5,660  
                             
    Non-interest expense:                        
    Salaries and employee benefits   5,528     5,356     16,154     14,751  
    Occupancy, net   519     429     1,515     1,397  
    Equipment   400     404     1,233     1,063  
    Professional and outside services   530     443     1,575     1,473  
    Software maintenance   626     568     1,817     1,639  
    ATM expenses   229     195     629     602  
    Printing, postage, and supplies   124     97     413     318  
    Telecommunication expenses   75     88     240     268  
    Other   972     869     2,958     2,525  
    Total non-interest expense   9,003     8,449     26,534     24,036  
    INCOME BEFORE INCOME TAXES   3,137     3,389     9,435     10,324  
    Federal income tax provision   551     622     1,684     1,856  
    NET INCOME $ 2,586   $ 2,767   $ 7,751   $ 8,468  
                             
    Basic Earnings Per Common Share $ 0.57   $ 0.61   $ 1.70   $ 1.86  
    Diluted Earnings Per Common Share   0.57     0.61     1.70     1.86  
    Dividends Declared Per Common Share   0.15     0.14     0.45     0.42  
                             

    The MIL Network –

  • MIL-OSI Economics: Galaxy AI to Support 20 Languages by End of 2024

    Source: Samsung

    Samsung Electronics Co., Ltd. today announced the upcoming expansion of four new languages for Galaxy AI1: Turkish, Dutch, Swedish and Romanian. Existing supported languages will also expand to cover additional dialects in traditional Chinese and Portuguese (Europe). This expanded support will begin rolling out from the end of October.
    Galaxy AI currently supports 16 languages2, and by the end of the year that number will go up to 20 with these new additions. This update means even more users will be able to lower language barriers and step into a larger world with the power of Galaxy AI. The new languages and dialects will be available for download as language packs from the Settings app of compatible Galaxy devices.
    For more information about Galaxy AI, please visit: Samsung Newsroom, Samsungmobilepress.com or Samsung.com.

    1 Galaxy AI features by Samsung will be provided for free until the end of 2025 on supported Samsung Galaxy devices.
    2 Supported languages include Arabic, Chinese (China mainland, Hong Kong), English (Australia, India, United Kingdom, United States), French (Canada, France), German, Hindi, Indonesian, Italian, Japanese, Korean, Polish, Portuguese (Brazil), Russian, Spanish (Mexico, Spain, United States), Thai and Vietnamese.

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Traders see almost £10,000 worth of fake Paddington Bear goods seized ahead of half-term film release | Westminster City Council

    Source: City of Westminster

    Almost £10,000 worth of counterfeit Paddington Bear merchandise was seized by Westminster City Council’s Trading Standards during raids along Oxford Street.

    Just days away from the release of the latest film in the Paddington series, officers targeted nine shops along Oxford Street and Central London seizing £9,500 worth of unofficial merchandise. Some of the items seized included t-shirts, tote bags, fridge magnets and even shot glasses – all emblazoned with the image of Westminster’s famous furry character.

    Supporting the council’s officers were representatives from Surelock, acting on behalf of Paddington & Co. They helped to identify products that displayed trademarks and copyrighted material without the permission of the owner. This represented criminal breaches of the Trade Marks Act 1994 and Copyright, Designs and Patents Act 1988.

    When it comes to protecting Westminster’s consumers the council provides more than the bear necessities. This latest sting is part of a wider operation by the council targeting unscrupulous businesses on Europe’s premier shopping destination that continue to sell counterfeit goods or American candy or snacks containing banned ingredients.

    Ron Harrison, Managing Director of Surelock said: 

    We are extremely grateful to the team, carrying out enforcement action at so many premises in one day, it was unprecedented, everyone worked very hard.”

    Leader of Westminster City Council, Cllr Adam Hug said:

    Trying to con shoppers in Westminster with fake Paddington goods is bear-faced cheek we won’t stand for.

    “Our job is to ensure shoppers get what they pay for. Big retail names are making a welcome return to Oxford Street and rogue traders have been a blemish on the area for too long.

    “People trying to fleece Paddington fans have felt the long-arm of the paw, and so will anyone who tries to rip off customers in Westminster.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Play your part in a greener, more resilient Plymouth

    Source: City of Plymouth

    From Monday 4 to Friday 8 November, in celebration of Green Careers Week, the Skills team at Plymouth City Council are inviting local people to take part in activities that will inspire them to get involved in developing the city’s green economy.

    Students, career changers, job seekers, or anyone simply interested in the transition to a more sustainable and green economy can sign up to attend free sessions that aim to inspire local people to contribute to a sustainable future, while also exploring the range of green careers available in Plymouth.

    Councillor Tom Briars-Delve, Cabinet Member for Environment and Climate Change, said: “Whether you’re interested in renewable energy, conservation, or sustainable construction, taking part in these Green Careers Week activities can help you to find out how your skills can play a part in a greener, more resilient Plymouth.

    “There’s a fantastic line-up of activities with organisations including MVV Plymouth, Fugro, Marine Biological Association, Plymouth Sound National Marine Park, Poole Farm, Secure Forests, the University of Plymouth, Plymouth City Bus and Southwest Highways, and it’s a great chance for people to find out more about the career opportunities that are out there.

    “Join us to discover how various sectors in our city are contributing to a sustainable future and explore the range of green careers available!”

    Click here to view the programme and for details on Green Careers Week with Skills Launchpad Plymouth.

    If you are interested in participating in Green Careers Week, please click here to sign up. You can also email skillslaunchpad@plymouth.gov.uk  

    ​​​

    ​

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Esplanade resurfacing during October half term23 October 2024 The Government of Jersey will be carrying out essential highway maintenance on the eastbound carriageway of the Esplanade from 26 October to 3 November 2024. The Esplanade and Victoria Avenue will remain… Read more

    Source: Channel Islands – Jersey

    23 October 2024

    The Government of Jersey will be carrying out essential highway maintenance on the eastbound carriageway of the Esplanade from 26 October to 3 November 2024.

    The Esplanade and Victoria Avenue will remain open in both directions during the work, with a contraflow to ensure there are two lanes for each direction. 

    Signed diversions will also be in place, which will be especially important if you have an appointment at the General Hospital. Drivers approaching from the east will need to use Castle Street to get to Patriotic Street Car Park, while those coming from the west will need to use Cheapside/Gloucester Street to access Kensington Place/Patriotic Street. 

    We are sorry for any inconvenience caused. The work is much needed as some sections were last improved more than 20 years ago. 

    More details on diversions and working times are detailed on gov.je/roadworks​.​

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Rick Witter’s namesake gritter unveiled!

    Source: City of York

    City of York Council is introducing its new fleet of gritters ahead of the winter season, with one named as Rick Gritter (after Rick Witter, Shed Seven).

    The lead singer from the local band Shed Seven has been chosen in recognition of their achievements in the last year.

    Cllr Pete Kilbane, Deputy Leader of City of York Council, said:

    We’ve got a couple of new gritters this year, so this is a fantastic opportunity mark a hometown tribute to Rick and the band in recognition of their achievements.

    “Our gritting season officially starts in November, with some ‘dry runs’ taking place this month. So, you’ll start to see Rick Gritter on the streets of York soon!”

    Here’s how the council is helping residents, visitors and businesses during the winter months:

    Gritting

    The council has stockpiled 3,000 tonnes of road salt (as per national reserves allow), which is stored in its salt barn at Hazel Court depot.

    On average, crews spread around 6,000 tonnes of road salt per season, over 75-80 road treatments (gritter runs). The council has a full crew of staff for its gritters, for the whole season.

    Each season, crews treat eight routes across the highway, covering 226miles (365km) of York’s road network, including 13.6miles (22km) of priority footpaths and off road cycle network, and when resources allow, 36miles (58km) of cycle network.

    Salt bins in wards

    Around 180 salt bins, amounting to approximately 36tonnes of salt in total, are located across the city in prominent places such as near slopes or shopping areas. To locate salt bins, or report them empty visit the council website.

    Cycle/walking network

    Small tractors will be used to grit 11miles (18km) of York’s cycle/walking network to help keep people safer in winter conditions.

    Popular cycle routes, including Scarborough Bridge and other off road bridges too, are included.

    Off road cycle networks are often difficult to grit or salt because cycles don’t have the same weight or action as a vehicle tyre. Effective gritting works by vehicles driving over the grit with their tyres which beds the grit into the snow and ice.

    Whilst cars or heavy vehicles generally follow the same tyre path. Cycle tyres are much thinner and therefore these typical treatments are less effective.

    Snow wardens

    The council runs a snow warden scheme, which supports around 200 volunteers and is encouraging more people to join. Volunteers receive training, equipment and insurance cover. They choose where and when to keep pavements free of ice and snow and make a real difference to their neighbourhoods. Find out more online.

    For more information about gritting in York, visit the winter page on the council website, or follow Facebook, X, Instagram.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Are Londoners’ voices heard in transport planning?

    Source: Mayor of London

    Who is using London’s transport, and what is being done to make sure their needs are taken into account in planning services?

    Tomorrow, the London Assembly Transport Committee looks at demographic trends in people using different services, and examines what is being done to provide accessible and inclusive transport options for Londoners.

    The meeting will focus on the needs of women, children and young adults, and people in low-income households. The Committee has also launched a call for evidence, which is open to transport planners, campaign and advocacy groups with expertise on the needs of Londoners from a broad range of demographics.

    Members will ask what more, or alternative, accessibility and inclusion measures Transport for London (TfL) could consider to improve its services, and ask how TfL engages with different groups as it plans and designs our transport system.

    The Committee will also hear from Members of some of TfL’s advisory groups, to understand whether they are consulted with and listened to in the transport planning process, and on decisions affecting the services they use.

    Guests include:

    Panel 1: 2pm – 3.30pm

    • Dr Emily Barker, Research and Learning Officer, 4in10
    • Gideon Salutin, Senior Researcher, Social Market Foundation
    • Dr Liz Hind, Senior Local Partnerships and Training Officer, Women’s Budget Group
    • Dr Sara Reis, Deputy Director and Head of Research and Policy, Women’s Budget Group

    Panel 2: 3.45pm – 4.45pm

    • James Lee, City Bridge Foundation, TfL’s Independent Disability Advisory Group Board Member
    • Lauren Price, TfL’s Youth Panel Member
    • Callum Shakespeare, Whizz Kidz, TfL’s Inclusive Transport Forum Member

    The meeting will take place on Thursday 24 October from 2pm, in the Chamber at City Hall, Kamal Chunchie Way, E16 1ZE.

    Media and members of the public are invited to attend.

    The meeting can also be viewed LIVE or later via webcast or YouTube.

    Follow us @LondonAssembly.

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Visit of the SPbPU delegation to Minsk: scientific events and prospects for cooperation

    Translation. Region: Russian Federation –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    The Polytechnic delegation visited the capital of Belarus, Minsk. Our university was represented by Acting Director of the PhysMech Institute Alexey Filimonov, Advisor to the Rector’s Office Vadim Korablyov, and Associate Professor of the Higher School of Engineering Physics Vyacheslav Bondarenko. The program of the trip included discussion of cooperation prospects and participation in scientific events.

    The visit began with a working meeting at the Presidium of the National Academy of Sciences of Belarus. It is headed by the Head of the Department of Aerospace Activities of the NAS, Academician Pyotr Vityaz. During the discussion, in which the Director of the Institute of Applied Physics of the NAS, Professor Mikhail Kheifets, also took an active part, the scientists considered a number of promising areas for joint research. In particular, they discussed plans to prepare materials for the Union State program in the areas of “Life Sciences” and “Materials Science”.

    After that, the SPbPU delegation visited the VII International Scientific Conference “Modeling of Synthesis and Destruction of Materials”, where issues of deepening cooperation in this extremely important applied area of research were considered. Colleagues emphasized the seriousness of the publication activity of the Union State countries and agreed to strengthen it. The Belarusian side proposed to conduct an economic analysis and make a decision on expanding the composition of the founders of the highly rated journal “Nonlinear Phenomena in Complex Systems”.

    Polytechnicians took part in the XI International Scientific Conference “Materials and Structures of Modern Electronics”, which is traditionally held at the Physics Department of the Belarusian State University. Specialists present to the scientific community the main results of experimental and theoretical research in the field of semiconductor physics, condensed matter and nanotechnology. More than 50 oral reports were heard at the conference.

    The team of polytechnics presented two reports. The first report “Natural size effect in heterocontacts” is devoted to obtaining information about the nature of the electronic properties of the surface of semiconductors and contact structures. Our scientists showed the results of a study of the natural size effect in semiconductor heterocontacts during the distribution of space charge on point and extended linear defects, which is extremely relevant in debugging the technology of manufacturing modern electronic devices on heterojunctions.

    The second report, written in collaboration with colleagues from the A. A. Baikov Institute of Metallurgy and Materials Science of the Russian Academy of Sciences, was called “Magnetostriction anomalies and magnetocaloric effect of rare-earth Laves phases based on cobalt.” It presented the results of comprehensive studies of the structure and magnetic properties of practically significant rare-earth alloys, as well as the study of anomalies in the area of phase transitions using various techniques.

    On the sidelines of the conference, several working meetings were held with the Director of the B. I. Stepanov Institute of Physics of the National Academy of Sciences of Belarus, Academician S. V. Gaponenko, Deputy Head of the State Center “Belmicroanalysis”, Corresponding Member of the National Academy of Sciences of Belarus V. A. Pilipenko, Foreign Member of the Russian Academy of Sciences, Academician N. A. Poklonsky, Dean of the Instrument-Making Faculty of the Belarusian National Technical University A. I. Svistun and Professors of the Belarusian State University of Informatics and Radioelectronics A. G. Smirnov and G. G. Gorokh.

    The outcome of these meetings was a decision to prepare a large, comprehensive interdisciplinary application within the framework of the Union State research program.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Marat Khusnullin took part in the XXV International Housing Congress

    Translation. Region: Russian Federation –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Marat Khusnullin took part in the plenary session “Strategy for the Development of the Real Estate Market”, which was held within the framework of the XXV International Housing Congress

    October 23, 2024

    Marat Khusnullin took part in the plenary session “Strategy for the Development of the Real Estate Market”, which was held within the framework of the XXV International Housing Congress

    October 23, 2024

    Marat Khusnullin took part in the plenary session “Strategy for the Development of the Real Estate Market”, which was held within the framework of the XXV International Housing Congress

    October 23, 2024

    Previous news Next news

    Marat Khusnullin took part in the plenary session “Strategy for the Development of the Real Estate Market”, which was held within the framework of the XXV International Housing Congress

    Deputy Prime Minister Marat Khusnullin took part in the plenary session “Strategy for the Development of the Real Estate Market”, which was held as part of the XXV International Housing Congress.

    “This year we are completing the national project “Housing and Urban Environment”, and quite successfully, having exceeded all plans. If we take analytics from 1991, the rate of housing commissioning has exceeded – in terms of per capita – the Soviet Union. I consider this our common great achievement. Another achievement is that we have promoted the mortgage market. Today, the mortgage portfolio amounts to 27 trillion rubles. Mortgages today make up 10% of GDP. Considering that the share five years ago was at the level of 2-3%, such a jump in five years is a breakthrough. At present, the mortgage sector remains a serious issue, which we are dealing with in a comprehensive manner. We also have mortgage programs in new and Far Eastern regions, programs for the IT sector and rural mortgages,” said Marat Khusnullin.

    As the Deputy Prime Minister noted, the provision of citizens with housing in the amount of 29 square meters per person has also increased by now. At the same time, according to the President’s instruction, this criterion will be gradually increased to 33 square meters by 2030 and to 36–37 square meters by 2036.

    According to the Deputy Prime Minister, the formation of a new national project, “Infrastructure for Life,” is also nearing completion. According to plans, it will allow for a more comprehensive approach to all issues, linking social, transport, and engineering infrastructure, as well as housing development and job creation.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI New Zealand: Mindful Money – Use your KiwiSaver for climate action

    Source: Mindful Money

    On International Day of Climate Action 2024, New Zealand charity Mindful Money is calling on Kiwis to drive climate action with their investments’. Most of us want to do our bit to help avoid climate chaos. A crucial – and easy – step that Kiwis can take is to reduce the emissions that result from their KiwiSaver and other investments.

    Mindful Money is highlighting three actions that Kiwis can take to reduce the emissions financed by their investments.

    Climate action 1: Avoid funding the fossil fools

    Everyone with a KiwiSaver fund has the power to ensure their money doesn’t fuel climate change. There is over a billion dollars of KiwiSaver funds invested in hard core climate polluters that are still increasing their emissions, instead of transitioning to renewable energy.

    Mindful Money Co-CEO Barry Coates explained: “This year’s Climate Action Day comes at a time when floods, fires, lethal heat and cyclones are devastating the lives of millions of vulnerable people, and wreaking havoc on our oceans, glaciers, forests and species. Kiwis can reduce their own contribution by choosing not to invest in the companies causing the most damage.”

    The highest emissions are from the major coal, oil and gas companies that have made billions of dollars in profits while denying the problem and delaying and obstructing climate policy. A mere 57 oil, gas, coal and cement producers are directly linked to 80% of the world’s global fossil CO2 emissions since the 2015 Paris climate agreement.

    The public companies, Shell, ExxonMobil, Chevron, BP and TotalEnergies were the five largest emitters between 2016 and 2022.

    New Zealanders still invest large amounts in these fossil fools. Analysis by Mindful Money across all 376 KiwiSaver funds shows that $3.75 billion was invested in fossil fuel companies at end March 2024. More than a third of that was invested in the companies that are still expanding their production, instead of transitioning to renewable energy.

    Investors in fossil fuel expanders are also taking financial risks from future declines in demand for fossil fuels and stranded assets – the reserves and production infrastructure that will become worthless as renewable energy replaces fossil fuels.

    Barry Coates commented: “Surveys show that 71% of Kiwis want to avoid fossil fuels companies in their investment funds. But most KiwiSaver funds invest in fossil fuels, including those the companies that are still expanding their production. Everyone with a KiwiSaver or some kind of investment can play their part in cutting off investment into the worst climate polluters.”

    ACTION (estimated 15 minutes): Members of the public can go to Mindful Money’s website to find out if their KiwiSaver fund is invested in these companies. It’s quick, easy and free to check your fund, and then find a fund that is better for the climate. https://mindfulmoney.nz/kiwisaver/checker/

    Climate action 2: Don’t fall for the greenwashing

    Over half of Kiwis surveyed are concerned about greenwashing – misleading claims that companies or funds are ‘climate friendly’ or ‘green’ or ‘sustainable’. There has been growing international pressure on companies and funds that make empty promises in order to boost their profits, but little action in New Zealand.

    The EU, UK and other governments are introducing rules on green claims by companies and funds to prevent greenwashing, and regulators are taking action. The Australian Securities and Investment Commission (ASIC) has taken 47 regulatory actions against greenwashing over the past 15 months. 

    There have been three court cases including a fine of $14 million for global fund manager, Vanguard. New Zealand’s Financial Markets Authority (FMA) has repeatedly warned they will take action against misleading claims but has yet to take action. Meanwhile KiwiSaver and investment funds are still claiming green credentials while investing in the fossil fools.

    Barry Coates commented: “It is not surprising the New Zealand public is concerned about greenwashing. Most funds in New Zealand claim to use some form of Environmental, Social and Governance (ESG) management in their investment. But these ESG claims are not consistent with investment portfolios that contain companies destroying the world’s climate and facing huge financial risks.”

    “The New Zealand government is still failing to tackle greenwashing by the providers of KiwiSaver and other funds whose claims are not backed up by their actual investments. Investors need to take action themselves to ensure that their investments are not adding fuel to the climate fire.”

    Without government action in New Zealand, the responsibility for avoiding greenwash falls on individual investors. It is now easy for members of the public to get free information about the reality of where their money goes. Mindful Money’s website not only shows the fossil fuel investments for all KiwiSaver and investment funds, but identifies those that are still expanding their production.

    ACTION: Those with KiwiSaver and investment funds should call on their fund providers to provide evidence of their ESG or sustainability claims, including specifics about the companies they invest in. Information provided by the fund providers can be checked out with the investment listing on Mindful Money. http://www.mindfulmoney.nz/kiwisaver/checker/  

    Climate Action 3: Add your voice for change

    International cooperation in the form of a Fossil Fuel Treaty is needed to stop the major fossil fuel companies from blocking progress towards investment in renewable energy. International treaties have been developed to phase out other forms of harmful products, including landmines and nuclear weapons. The  Fossil Fuel Non-Proliferation Treaty is being proposed to manage a global transition to a safe and affordable energy future for all.  It has been endorsed by 14 governments (not including New Zealand) and thousands of leaders from across civil society and local government, including Wellington City Council and Kāpiti Coast District Council.

    ACTION: Members of the public are encouraged to work with organisations, networks, faiths, academic institutions and Councils to support the treaty, and to sign the treaty themselves. https://fossilfueltreaty.org/

    Barry Coates concluded: “The Treaty is important to focus government attention on the fossil fuel industry. For the third year in a row, the next climate summit in December 2024 will be held in a country producing oil and gas (Azerbaijan). Fossil fuel lobbyists will again be given privileged access. The Fossil Fuel Treaty is a way to bring the issues of fossil fuel phaseout into the climate negotiations.”

    Notes:

    International Climate Day of Action is on Thursday 24th October. It is a time for citizens around the world to consider the actions they can take to help avoid the worsening climate crisis.

    Mindful Money’s Fund Checker enables members of the public to check the investments in their KiwiSaver and investment funds. It is quick, easy and free.
    https://mindfulmoney.nz/kiwisaver/checker/

    The research report ‘In Transition or in denial’ explains the categorisation of fossil fuel companies into those transitioning to renewable energy and those still expanding their oil and gas production. 

    https://mindfulmoney.nz/learn/fossil-fuel-investment-in-transition-or-in-denial/

    The Mindful Money Fund Finder helps members of the public to find a fund that aligns with their values. https://mindfulmoney.nz/kiwisaver/finder/

    The website provides a list of funds that do not invest in fossil fuel companieshttps://mindfulmoney.nz/invest-climate-action/fossil-free-funds/

    Research on capital expenditure by the major coal, oil and gas companies is published by the international research institute, InfluenceMap. 

    This week, a greenwashing action has been launched against the world’s largest fund manager, BlackRock. 
    The complaint to the French financial regulator shows the US investment giant’s so-called “sustainable” funds have poured over a billion dollars into fossil fuel expanders, including ExxonMobil, Shell, TotalEnergies, Chevron and BP. 

    International research shows the large passive funds that are claiming to invest sustainably are still investing in the oil and gas companies that are expanding their production. 70% of the 430 ‘sustainable’ passive funds analysed by international researcher Reclaim Finance were exposed to companies expanding their fossil fuels. These included big oil and gas developers (e.g. ExxonMobil, TotalEnergies, Shell) and big coal developers (e.g. Adani, Mitsubishi, Glencore). 
    Greenwash can take different forms. Some funds claim to be green by investing in the fossil fuel companies and then influencing them towards sustainability. 
    But the latest progress report from the umbrella engagement forum, Climate Action 100+, shows continued empty promises and little action. Only one of 37 major oil and gas companies subject to engagement is making adequate progress towards net zero. Seven years after Climate Action 100+ was formed, most of the coal, oil and gas companies are still expanding their oil and gas production instead of transitioning to renewable energy. 
    The only New Zealand case on greenwashing has been a civil case. Consumer NZ, the Environmental Law Initiative (ELI) and Lawyers for Climate Action New Zealand Inc (LCANZI) are seeking declarations from the High Court that Z Energy has breached the Fair Trading Act by misleading New Zealanders with its public messaging that it is“getting out of the petrol business” and it is “well on track to achieving [its] carbon reduction targets” when in fact its emissions have been increasing. 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: CoreLogic – Investors take a fresh look at the NZ property market

    Source: CoreLogic

    Mortgaged multiple property owners (MPOs) remain less active than usual, but there are early signs that some are starting to return – a signal that ‘mum and dad’ investors might be starting to see value in the NZ property market again.

    CoreLogic’s October Housing Chart Pack shows that for the month of September, mortgaged MPOs made up 22.6% of all property purchases, up from the record low seen exactly a year ago (20.4%) and the highest seen since around the middle of 2022.
    CoreLogic NZ Chief Property Economist Kelvin Davidson said although the share of purchases going to mortgaged multiple property owners (including investors) remains low by historical standards, there have been hints over the past quarter that this group is showing renewed interest.
    “That’s likely to reflect lower mortgage rates, which are reducing the required cashflow top-ups on a typical rental property purchase, but also the reinstatement of mortgage interest deductibility and reduced deposit requirements under the LVR rules,” said Mr. Davidson, referring to changes that allow investors to claim 80% of their mortgage interest as a deductible expense for tax purposes.
    Data from the October Chart Pack also showed that gross rental yields have been trending higher – albeit slowly – as values have weakened and rents have risen.
    From a floor of 2.8% in late 2021, they now stand at 3.9%, which is the highest level since early 2016.
    Auckland and Wellington City are hovering in the 3-3.5% range, with Hamilton and Tauranga closer to 4%, and Christchurch and Dunedin a bit above 4%.
    “Even though rental yields have trended higher, they’re still quite low compared to mortgage rates, so no doubt some would-be property investors are watching and waiting for interest rates to start falling to an even more favourable level,” added Mr. Davidson. “That said, on individual deals, clearly some savvy investors will already be able to secure yields that exceed the market averages.”
    Investors on the rise again?
    He said investors are going to be a group to watch in 2025 as rates are expected to keep falling.
    “We estimate that a ‘typical’ mortgage rate of around 5.5% could start to entice growing numbers of investors back to the market, but that’s also potentially a rate at which debt-to-income ratio limits might start to have a more noticeable impact.”
    “It remains to be seen what the net impact will be. Of course, whatever trade-offs investors might face in terms of lower funding costs but tougher credit rules, the exemption from the DTIs for new-builds could continue to make them a very strong option for would-be buyers.”
     
    October Housing Chart Pack highlights:

    New Zealand’s residential real estate market is worth a combined $1.61 trillion.

    The CoreLogic Home Value Index (HVI) fell by a further 0.5% in September, the seventh decline in a row, taking the drop from February’s ‘mini peak’ to almost 5%. 
    Auckland fell again in September, and alongside Wellington, it has seen values drop by more than 3% since June. By contrast, Christchurch and Dunedin are proving a little more resilient.
    Values dipped by 1.2% in the year to September, with the small upturn in late 2023 now close to being reversed. Taking the three months to September combined, there was a 2.4% drop in median property values across NZ.
    Falls from the peak are now sitting at nearly 18% nationally, with some areas significantly larger.
    National rental growth has settled into a more subdued phase, and was 1.2% in the year to September, which is comfortably below the long-term average of 3.2%.
    Over the past 2-3 years, gross rental yields have been trending slowly higher, as values have weakened and rents have risen. From a floor of 2.8% in late 2021, they now stand at 3.9%.

    MIL OSI New Zealand News –

  • MIL-OSI USA: Gov. Kemp: New AIG Office Hub to Create 600 Metro Atlanta Jobs

    Source: US State of Georgia

    Atlanta, GA – Governor Brian P. Kemp today announced that American International Group, Inc. (AIG), a leading global insurance company, will establish a new innovation hub in DeKalb County. The facility will triple AIG’s current Atlanta-area office space to accommodate over 1,000 employees, including the creation of more than 600 new roles over the next five years.

    “Again and again, job creators are choosing the No. 1 state for business not just for first-time investment, but for expansion as well,” said Governor Brian Kemp. “AIG’s decision to grow their footprint here in Georgia is just the latest confirmation that we have what businesses want and are leveraging those assets to their fullest so we can bring new opportunity to all parts of the state. I want to thank our local and state partners who made this project possible, and I look forward to it’s long-lasting, positive impacts.”

    With operations and network partners in more than 190 countries and jurisdictions, AIG provides insurance solutions that help businesses and individuals protect their assets and manage risks. AIG’s new Atlanta innovation hub, set to open in 2026, will be designed as a collaborative workspace where teams representing every aspect of AIG’s business will work together to test new processes and incubate digital capabilities to build value for clients and partners.

    “For many years, AIG has been a part of Atlanta’s thriving business community, and we look forward to creating more than 600 high-quality jobs that will provide rewarding opportunities for the talented and skilled local workforce,” said Peter Zaffino, Chairman & Chief Executive Officer, AIG. “This investment is part of our commitment to continue to enhance our expertise to help our clients and partners navigate complex and emerging risks, while building additional capabilities for the future.”

    The company will hire for various roles across underwriting, claims, operations, data engineering, and AI. Interested individuals can learn more about open roles and careers with AIG at http://www.aig.com/careers. For more information about AIG’s new Atlanta hub, visit http://www.aig.com/newsroom.

    “Known for its highly regarded universities, hospitals, and healthcare industry, DeKalb County is renowned for fostering sustainable economic growth and prosperity,” said DeKalb County CEO Michael Thurmond. “Ranked as a top Fortune 100 company and recognized on Forbes’ first-ever list of America’s Best Employers for Tech Workers, we are delighted that AIG will bring additional business investment and employment opportunities to our county.”

    “The quality of a company like AIG and the caliber of the employees that will call it home is a perfect fit for Brookhaven’s Perimeter Summit,” said Brookhaven Mayor John Park. “Job creation is extremely important in any economy, and we appreciate the leadership and collaboration of GDEcD and Decide DeKalb to bring AIG to Brookhaven.”

    “AIG’s expansion is a testament to what we’ve been saying for years: this region was built for business,” said Katie Kirkpatrick, president and CEO of the Metro Atlanta Chamber. “The new Brookhaven location strengthens AIG’s presence in metro Atlanta and creates new jobs for Georgians as the company builds on its continued success.”

    Assistant Director of Statewide Projects John Soper represented the Georgia Department of Economic Development (GDEcD) Global Commerce team on this project in partnership with Decide DeKalb, Georgia Power, the Metro Atlanta Chamber, and the University System of Georgia.

    “For years, we lost some of our best and brightest talent to out-of-state opportunities. That’s no longer the case,” said GDEcD Commissioner Pat Wilson. “AIG’s office hub is a great example of the type of investment that will keep our well-educated, diverse talent engaged here at home after graduation.”

    About American International Group, Inc. (AIG)

    American International Group, Inc. (NYSE: AIG) is a leading global insurance organization. AIG provides insurance solutions that help businesses and individuals in approximately 190 countries and jurisdictions protect their assets and manage risks through AIG operations and network partners. For additional information, visit http://www.aig.com

    MIL OSI USA News –

  • MIL-OSI: Jayud Global Logistics Expands U.S. Operations with Strategic Acquisitions in California and Georgia

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, Oct. 23, 2024 (GLOBE NEWSWIRE) — Jayud Global Logistics Limited (NASDAQ: JYD) (“Jayud” or the “Company”), a leading end-to-end supply chain solution provider based in Shenzhen specializing in cross-border logistics, today announced the acquisition of significant stakes in two key logistics facilities in California and a licensed customs brokerage firm in Georgia. These strategic investments are part of Jayud’s ongoing efforts to expand its operational footprint in the United States and enhance its comprehensive suite of logistics services.

    Jayud has acquired a 20% stake in a 70,000 sq.ft. warehouse located in Rialto, California, and a 49% stake in a 50,000 sq.ft. warehouse located in Chino, California. These facilities are located in major logistics hubs in California, enhancing Jayud’s capacity to manage and streamline supply chains in one of the U.S.’s busiest trade corridors.

    In addition to the warehouse investments, Jayud has secured a 10% stake in LD Global Logistics Inc., a licensed customs broker established in 2016 and certified by U.S. Customs and Border Protection. Based in Georgia, LD Global Logistics Inc. provides critical brokerage services and  operates a fleet of trucks, further supporting Jayud’s logistics operations across the southeastern United States. The inclusion of LD Global Logistics Inc. into Jayud’s portfolio expands its service capabilities and deepens its compliance and customs expertise in a key U.S. region, ensuring smoother and more efficient import and export processes for clients.

    The Company issued a total of 3,365,588 Class A ordinary shares as consideration for the three acquisitions.

    “These acquisitions are a testament to our commitment to strengthen our global logistics network and enhance service offerings to our clients, particularly in the U.S. market,” said Xiaogang Geng, Chairman of the Board and CEO of Jayud. “By integrating these assets into our portfolio, we are better positioned to offer end-to-end logistics solutions and meet the growing demand for efficient, reliable supply chain management in North America.”

    About Jayud Global Logistics Limited

    Jayud Global Logistics Limited is one of the leading Shenzhen-based end-to-end supply chain solution providers in China, focusing on cross-border logistics services. Headquartered in Shenzhen, the Company benefits from the unique geographical advantages of providing a high degree of support for ocean, air, and overland logistics. The Company has established a global operation nexus featuring logistic facilities throughout major transportation hubs in China and globally, with footprints in 12 provinces in Mainland China and 16 countries across six continents. Jayud offers a comprehensive range of cross-border supply chain solution services, including freight forwarding, supply chain management, and other value-added services. With its strong service capabilities and research and development capabilities in proprietary IT systems, the Company provides customized and efficient logistics solutions and develops long-standing customer relationships. For more information, please visit the Company’s website: https://ir.jayud.com.

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “believe”, “is/are likely to”, “potential”, “continue” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

    For more information, please contact:

    Jayud Global Logistics Limited
    Investor Relations Department
    Email: ir@jayud.com 

    Investor Relations Contact:
    Matthew Abenante, IRC
    President
    Strategic Investor Relations, LLC
    Tel: 347-947-2093
    Email: matthew@strategic-ir.com

    The MIL Network –

  • MIL-OSI: FCCI Insurance Group Deploys Duck Creek Policy with Active Delivery to Modernize Operations and Drive Expansion into the Excess & Surplus Market

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, Oct. 23, 2024 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, today announced FCCI Insurance Group (FCCI) is live with its Excess & Surplus (E&S) line of business on Duck Creek Policy with Active Delivery. FCCI’s transition to Duck Creek’s platform enables Active Delivery to drive operational efficiencies, automate manual processes, and enhance speed to market for new products. Duck Creek’s premier delivery partner, Cognizant, led the implementation project to ensure FCCI quickly recognizes reduced expense ratios, improved core operational performance, and enhanced scalability to handle higher volumes seamlessly. 

    “Our expansion into the E&S market is a testament to our dedication to serve the evolving needs of businesses across industries,” said Dave Patel, Executive Vice President – Chief Information Officer (CIO) at FCCI. “Deploying Duck Creek Policy with Active Delivery will enable us to provide exceptional service and customized insurance solutions to businesses that require specialized coverage.” 

    Duck Creek Policy with Active Delivery eliminates the need for upgrades and enables P&C insurers to deliver insurance products at scale. By selecting this platform, FCCI can now support the E&S business processes with the ability to adapt to changes and deliver exceptional service to agents and policyholders. This targeted approach addresses the growing need for flexible and robust insurance solutions in markets that face unique challenges.  

    “In this era of rapid customer-centric innovation and growth, we continue to help insurers streamline their processes to deliver new insurance services that will directly benefit policyholders quickly,” said Chris McCloskey, Chief Operating Officer at Duck Creek Technologies. “With the launch of Policy with Active Delivery, FCCI will never have to upgrade again – eliminating maintenance costs and changing the way they do business.”  

    To learn more about Duck Creek Policy with Active Delivery Platform, visit Duck Creek Policy. To learn more about how FCCI is expanding its E&S capability, read this release. 

    About Duck Creek Technologies 

    Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit http://www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and X. 

    Media Contacts:
    Marianne Dempsey/Tara Stred
    duckcreek@threeringsinc.com

    The MIL Network –

  • MIL-OSI: Nano Labs Announces Results of Annual General Meeting of Shareholders

    Source: GlobeNewswire (MIL-OSI)

    HANGZHOU, China, Oct. 23, 2024 (GLOBE NEWSWIRE) — Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs”), a leading fabless integrated circuit design company and product solution provider in China, today announced the results of the Company’s Annual General Meeting (“AGM”) held at 10 A.M. on October 23, 2024, Beijing time (10 P.M., October 22, 2024, U.S. Eastern time). The proposals submitted for shareholder approval at the AGM have been approved. Specifically, the shareholders have passed the following resolutions:

    (1) to effect a share consolidation of every ten shares with a par value of US$0.0002 each in the Company’s issued and unissued share capital into one share with a par value of US$0.002 (the “Share Consolidation”), so that immediately following the Share Consolidation and the share re-designation, the authorized share capital of the Company shall be US$50,000 divided into 25,000,000 ordinary shares of par value of US$0.002 each, comprising (i) 12,141,093 Class A ordinary shares of par value of US$0.002 each, (ii) 2,858,908 Class B ordinary shares of par value of US$0.002 each, and (iii) 9,999,999 shares of a par value of US$0.002 each of such class or classes (however designated) as the board of directors of the Company may determine in accordance with the Company’s New M&A (as defined below).

    (2) to amend the Company’s memorandum and articles of association currently in effect by the adoption of a new memorandum and articles of association to reflect the Share Consolidation (after the amendment, the “New M&A”); and

    (3) to approve the appointment of MaloneBailey, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024.

    The Share Consolidation will be effective from 5 P.M. on October 29, 2024, Eastern time.

    About Nano Labs Ltd

    Nano Labs Ltd is a leading fabless integrated circuit (“IC”) design company and product solution provider in China. Nano Labs is committed to the development of high throughput computing (“HTC”) chips, high performance computing (“HPC”) chips, distributed computing and storage solutions, smart network interface cards (“NICs”) vision computing chips and distributed rendering. Nano Labs has built a comprehensive flow processing unit (“FPU”) architecture which offers solution that integrates the features of both HTC and HPC. Nano Lab’s Cuckoo series are one of the first near-memory HTC chips available in the market*. For more information, please visit the Company’s website at: ir.nano.cn.

    * According to an industry report prepared by Frost & Sullivan.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s plan to appeal the Staff’s determination, which can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

    For investor inquiries, please contact:

    Nano Labs Ltd
    ir@nano.cn

    Ascent Investor Relations LLC
    Tina Xiao
    Phone: +1-646-932-7242
    Email: investors@ascent-ir.com

    The MIL Network –

  • MIL-OSI: red violet to Announce Third Quarter 2024 Financial Results on November 6, 2024

    Source: GlobeNewswire (MIL-OSI)

    BOCA RATON, Fla., Oct. 23, 2024 (GLOBE NEWSWIRE) — Red Violet, Inc. (NASDAQ: RDVT), a leading analytics and information solutions provider, announced today that it will report its financial results for the third quarter ended September 30, 2024 after the close of the U.S. financial markets on Wednesday, November 6, 2024.

    The Company will host its earnings call on Wednesday, November 6, 2024 at 4:30pm ET to discuss its quarterly results and provide a business update.

    The participant registration and webcast information are listed below. The earnings call will be simultaneously webcast on the Investors section of the red violet website at http://www.redviolet.com. Please login at least 15 minutes prior to the start of the call to ensure adequate time for any downloads that may be required.

    Please note participants must register to receive their unique dial-in number credentials. A general dial-in number will not be provided.

    PARTICIPANT REGISTRATION & WEBCAST INFORMATION
    WHEN: WEDNESDAY, November 6, 2024 at 4:30pm ET
    Participant Registration: Click Here
    Webcast URL: Click Here

    Following the completion of the conference call, an archived webcast of the earnings call will be available on the Investors section of the red violet website at http://www.redviolet.com.

    About red violet®

    At red violet, we build proprietary technologies and apply analytical capabilities to deliver identity intelligence. Our technology powers critical solutions, which empower organizations to operate with confidence. Our solutions enable the real-time identification and location of people, businesses, assets and their interrelationships. These solutions are used for purposes including identity verification, risk mitigation, due diligence, fraud detection and prevention, regulatory compliance, and customer acquisition. Our intelligent platform, CORE™, is purpose-built for the enterprise, yet flexible enough for organizations of all sizes, bringing clarity to massive datasets by transforming data into intelligence. Our solutions are used today to enable frictionless commerce, to ensure safety, and to reduce fraud and the concomitant expense borne by society. For more information, please visit http://www.redviolet.com.

    Company Contact:
    Camilo Ramirez
    Red Violet, Inc.
    561-757-4500
    ir@redviolet.com

    Investor Relations Contact:
    Steven Hooser
    Three Part Advisors
    214-872-2710
    ir@redviolet.com

    The MIL Network –

  • MIL-OSI: The Pet Hazard Decking Your Halls: truInsights into Foreign Body Ingestion & Holiday Decor

    Source: GlobeNewswire (MIL-OSI)

    SEATTLE, Oct. 23, 2024 (GLOBE NEWSWIRE) — Tis the season for holiday decor. But all those haunted Halloween decorations, Thanksgiving centerpieces and Christmas ornaments present a hidden danger pet parents need to watch out for.

    In 2023 alone, pet medical insurance company Trupanion (Nasdaq: TRUP) received more than 24,000 foreign body ingestion claims. Foreign body ingestion (FBI) is a painful, sometimes deadly, and costly condition that happens when a pet eats something they can’t pass through their gastrointestinal system without veterinary help.

    “Keep a close eye on your pets during the holiday season,” says veterinarian and Trupanion General Manager, Dr. Stephen Rose, BVSc (Hons1) M Infotech CVA ACVCHM. “And if you suspect your pet ate something they shouldn’t have, don’t risk it—reach out to your veterinarian to have them examined to be sure. It’s better to be safe than sorry in these instances.”

    Foreign Body Ingestion: By the Numbers

    In 2023, Trupanion paid 24,305 foreign body ingestion claims. The average claim was $878, while the highest claim was $27,403.

    Amongst Trupanion’s current population of insured pets, 7% of dogs and 3% of cats have had an FBI claim. Puppies and kittens have the most FBI claims of any age group by far. Pets under 1 year of age claim 322% more than adults and senior pets. Adult pets claim 34% more than senior pets.

    Top 5 Dog Breeds Claiming

    • Doberman Pinscher
    • Maltese
    • Boston Terrier
    • Shih Tzu
    • German Pointer

    Top 5 Cat Breeds Claiming

    • Persian
    • Bengal
    • Russian Blue
    • Sphynx
    • Siberian

    The Science & Medicine of Foreign Body Ingestion

    When a pet eats a foreign object that they can’t pass through their gastrointestinal system, it can become lodged anywhere along the GI Tract and cause a variety of symptoms from vomiting and diarrhea to obstruction, organ damage, and even death.

    Early signs and symptoms of foreign body ingestion are vomiting, diarrhea, lethargy, refusal of food or loss of appetite, whining, restlessness, pain in the belly, straining to defecate or being unable to fully vacate the bowels.

    If these symptoms are observed, it’s recommended that the pet is seen by a veterinarian as quickly as possible so that they can be evaluated for foreign body ingestion.

    During the examination, the vet may perform diagnostic imaging such as x-rays to see if a foreign object can be seen, or use a substance called Barium which when swallowed, illuminates on the radiographs to show if there is a blockage somewhere along the GI tract, and can help track the foreign material.

    Surgery is often needed to safely remove foreign objects from the GI tract to prevent further damage. The vet may also support with IV fluids, prescribing pain and/or nausea medications, inducing vomiting, performing bloodwork to check organ function, as well as observation while the pet passes the object.

    Prognosis is based on many factors such as what the pet ingested, how long the object has been stuck in the GI tract, where in the tract the object is stuck, and how healthy the pet is otherwise.

    Early intervention is always better. If too much time passes before treatment, the pet’s health may continue to decline, and if the blockage is an intestinal or stomach obstruction, the blood flow to organs can be affected, which can result in permanent damage or necrosis of those tissues. In these cases, just a few hours can mean the difference between life or death.

    Keeping Your Pets Safe During the Holidays

    Common items that pets ingest that result in foreign body ingestion include clothing (often socks and underwear), sticks, bones, corn cobs, champagne corks, food packaging and wrappers, dental floss, hair elastics, and toy stuffing or squeakers.

    During the holidays, the big ones to watch out for are decorations like tinsel, garlands, ribbons, and string. In fact, there is a specific type of very dangerous foreign body ingestion called a Linear Foreign Body, where things like strings or ribbons get lodged anywhere from the tongue down the esophagus and into the stomach and intestines. These linear foreign objects can cause the intestines to bunch and slice through the tissues as the body tries to expel them.

    “Keep a close eye on your pets during the holiday season,” says veterinarian and Trupanion General Manager, Dr. Stephen Rose, BVSc (Hons1) M Infotech CVA ACVCHM. “There’s a lot going on—a lot of distractions for pet parents, and a lot of objects around the house this time of year that look like toys to our pets, so it’s vital to remain vigilant. On special occasions, ensure you’re cleaning up wrapping paper, bows, and ribbons after opening gifts, and when entertaining, keep pets contained and out of the kitchen so they don’t have access to food and bones, and to prevent guests from feeding them things they shouldn’t eat. And if you suspect your pet ate something they shouldn’t have, don’t risk it—reach out to your veterinarian to have them examined to be sure. It’s better to be safe than sorry in these instances.”

    More Foreign Body Ingestion Safety Tips

    • Provide gates and pens to control what areas pet have access to
    • Check toys regularly to ensure they’re still intact
    • Dispose of toys that are coming apart to prevent ingestion of stuffing, strings and squeakers
    • Keep laundry room doors closed to prevent access to laundry baskets and detergent pods
    • Keep bathroom and bedroom doors closed to prevent access to garbage cans and other debris

    About truInsights

    truInsights is a data focused initiative introduced by Trupanion and designed to deliver valuable health-related data and insights to pet parents, veterinarians and pet lovers alike. With over 20 years of pet health data, Trupanion has explored its veterinary invoice data from nearly two million pets and provides details on data trends, as well as prevention tips for keeping our pets safe.

    About Trupanion

    Trupanion is a leader in medical insurance for cats and dogs throughout the United States, Canada, Europe, Puerto Rico and Australia with over 1,000,000 pets currently enrolled. For over two decades, Trupanion has given pet owners peace of mind so they can focus on their pet’s recovery, not financial stress. Trupanion is committed to providing pet parents with the highest value in pet medical insurance with unlimited payouts for the life of their pets. With its patented process, Trupanion is the only North American provider with the technology to pay veterinarians directly in seconds at the time of checkout. Trupanion is listed on NASDAQ under the symbol “TRUP”. The company was founded in 2000 and is headquartered in Seattle, WA. Trupanion policies are issued, in the United States, by its wholly-owned insurance entity American Pet Insurance Company and, in Canada, by Accelerant Insurance Company of Canada. Trupanion Australia is a partnership between Trupanion and Hollard Insurance Company. Policies are sold and administered by Trupanion Managers USA, Inc. (CA license No. 0G22803, NPN 9588590). For more information, please visit trupanion.com.

    Contacts:

    Media: Trupanion Corporate Communications

    Corporate.communications@trupanion.com

    The MIL Network –

  • MIL-OSI: authID Announces Launch of its Biometric Identity Services with Imperial Technologies

    Source: GlobeNewswire (MIL-OSI)

    Expands market presence into telecommunications vertical

    DENVER, Oct. 23, 2024 (GLOBE NEWSWIRE) —  authID® (Nasdaq: AUID), a leading provider of biometric identity verification and authentication solutions, today announced Imperial Technologies Inc., a broadband and wireless high-speed internet provider across all 50 states, has signed a multi-year agreement and launched authID’s biometric identity and document verification services to streamline and secure new customer onboarding.

    With the high frequency of identity fraud, deepfakes, and social engineering account takeover attacks, Imperial wanted to streamline its customer onboarding and reduce the resources required to perform manual and often error-prone identity checks. The company selected authID because of its ability to deliver a fully orchestrated identity verification solution that is fast, accurate, user-friendly, and helped accelerate good customer conversion, while stopping fraud quickly.

    “authID stood out among the various identity providers because of its biometric platform’s ability to securely onboard and seamlessly authenticate our customer base with the highest levels of identity assurance,” said Faiz Chaudhry, CEO of Imperial Technologies. “Together authID and Imperial Technologies are re-shaping the landscape of digital customer acquisition with highly secure identity trust that does not compromise on speed or convenience.”

    Imperial Technologies is now leveraging authID’s document-based biometric identity verification to streamline onboarding with an easy, intuitive user experience delivered in any browser to any device. authID stops identity fraud with PAD Level 2 liveness confirmation, ID anti-spoofing checks, and facial biometric matching of a selfie to the credential photo, all in a market-leading 700 milliseconds. To help users seamlessly authenticate their identities at any time, authID extends the value of that root of trust with biometric authentication that replaces friction-filled one-time passwords and easily compromised knowledge-based answers (KBA).

    “This customer win and our expansion into the telecommunications vertical demonstrates our broad product fit and our strong ability to ensure enterprises ‘Know Who’s Behind the Device’ during onboarding and throughout the user journey to prevent cybercriminals using malicious AI from impersonating users, deploying deepfakes, or performing account takeovers,” said Rhon Daguro, CEO of authID. “authID is committed to helping Imperial Technologies enjoy the highest levels of identity trust delivered with market-leading speed, accuracy, and frictionless identity experiences that deepen customer loyalty.”

    About authID
    authID® (Nasdaq: AUID) ensures enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate, patented, biometric identity platform. authID quickly and accurately verifies a user’s identity and eliminates any assumption of ‘who’ is behind a device to prevent cybercriminals from compromising account openings or taking over accounts. Combining secure digital onboarding, FIDO2 passwordless login, and biometric authentication and account recovery, with a fast, accurate, user-friendly experience, authID delivers biometric identity processing in 700ms. Binding a biometric root of trust for each user to their account, authID stops fraud at onboarding, detects and stops deepfakes, eliminates password risks and costs, and provides the fastest, frictionless, and the more accurate user identity experience demanded by today’s digital ecosystem. Contact us to discover how authID can help your organization secure your workforce or consumer applications against identity fraud, cyberattacks and account takeover.

    About Imperial Technologies Inc.
    Imperial Technologies Inc., headquartered in Atlanta, Georgia, offers wireless & wireline connectivity across North America. Imperial Wireless, Imperial Internet, Imperial Smart Security, Imperial Mobile, Imperial Voice, and Imperial GPS are all part of the same family belonging to Imperial Technologies Inc. Our goal is to simplify your Connectivity experience. Smart Innovation & customer satisfaction are the driving force behind our products. We are committed to ensure that our solutions meet the needs of both households and businesses nationwide. Learn more at http://www.imperialinternet.com

    Media Contacts
     Walter Fowler
    1-631-334-3864
    wfowler@nexttechcomms.com

    Investor Relations Contacts
    Investor-Relations@authid.ai

    Gateway Group, Inc.
    Cody Slach and Alex Thompson
    1-949-574-3860
    AUID@gateway-grp.com

    The MIL Network –

  • MIL-OSI: Morris State Bancshares Announces Quarterly Earnings and Declares Fourth Quarter Dividend

    Source: GlobeNewswire (MIL-OSI)

    DUBLIN, Ga., Oct. 23, 2024 (GLOBE NEWSWIRE) — Morris State Bancshares, Inc. (OTCQX: MBLU) (the “Company”), the parent of Morris Bank, today announced net income of $5.4 million for the quarter ending September 30, 2024, representing an increase of $124 thousand, or 2.34%, compared to net income of $5.3 million for the quarter ended June 30, 2024. Year over year the Company’s net income increased $954 thousand, or 21.23%, compared to net income of $4.5 million for the quarter ended September 30, 2023. The Company’s quarterly net earnings rose due to sustained loan growth, higher loan yields, an increase in noninterest-bearing deposit accounts, and some stabilization in the cost of funds. These factors combined to strengthen the bank’s net interest margin, bringing it to 4.10%.

    “We had a solid third quarter. Our core earnings engine remains strong as reflected by the growth in our net interest income. In the third quarter, we generated net interest income of $14.0 million, which was $428 thousand above the June 30, 2024, level of $13.6 million and $1.1 million above the September 30, 2023 level of $12.9 million,” said Spence Mullis, Chairman and CEO. “The Federal Reserve’s reduction in the Fed funds rate, combined with robust growth in noninterest-bearing balances, has contributed to stabilizing our cost of funds. Despite continued payoffs of larger loans, we continue to fund a good volume of new loans and previously unfunded commitments driving our loan balances slightly higher.”

    The net interest margin was 4.10% for the third quarter of 2024 compared to 4.02% for the second quarter of 2024 and 3.94% for the third quarter of 2023. The average yield on earning assets grew nine basis points from 5.96%, as of June 30, 2024, to 6.05%, while the Company’s cost of funds increased two basis points from 2.16% to 2.18% during the same period.

    Total deposits declined during the quarter by $16.6 million, or 1.37%, which included a $24 million reduction in brokered money market deposits. However, non-interest-bearing deposits increased $21.5 million, or 7.19% during the quarter, helping to bolster the net interest margin. The bank took down $15.0 million in borrowings from the Federal Home Loan Bank during the third quarter of 2024 to help fund new loan demand and offset the reduction in brokered deposits. Loans increased $6.3 million, or an annualized 2.36% during the third quarter, slowing from the second quarter’s annualized growth of 7.24%. Management anticipates steady loan demand in the fourth quarter as political uncertainty eases in November, providing customers with greater clarity to advance their growth strategies.

    The bank’s reserve as a percentage of total loans was 1.30% for September 30, 2024, as compared to 1.30% for June 30, 2024, and 1.32% as of September 30, 2023. The Company’s adversely classified index increased slightly from 6.04% as of June 30, 2024, to 6.15% as of September 30, 2024. The bank’s efficiency ratio increased slightly from 58.36% as of June 30, 2024, to 58.90% as of September 30, 2024.

    The Company’s total shareholders’ equity increased 2.35% to $190.6 million as of September 30, 2024, as compared to $186.2 million as of June 30, 2024. Tangible book value per share increased to $16.97 as of September 30, 2024, a 2.66% increase from $16.53 per share on June 30, 2024.  On October 16, 2024, the board of directors approved its fourth quarter dividend of $0.092 per share payable on or about December 15th to all shareholders of record as of November 15th. 

    Forward-looking Statements

    Certain statements contained in this release may not be based on historical facts and are forward-looking statements. These forward-looking statements may be identified by their reference to a future period or periods or by the use of forward-looking terminology such as “anticipate,” “believe,” “estimate,” “expect,” “may,” “might,” “will,” “would,” “could” or “intend.” We caution you not to place undue reliance on the forward-looking statements contained in this news release, in that actual results could differ materially from those indicated in such forward-looking statements as a result of a variety of factors, including, among others, the business and economic conditions; risks related to the integration of acquired businesses and any future acquisitions; changes in management personnel; interest rate risk; ability to execute on planned expansion and organic growth; credit risk and concentrations associated with the Company’s loan portfolio; asset quality and loan charge-offs; inaccuracy of the assumptions and estimates management of the Company makes in establishing reserves for probable loan losses and other estimates; lack of liquidity; impairment of investment securities, goodwill or other intangible assets; the Company’s risk management strategies; increased competition; system failures or failures to prevent breaches of our network security; changes in federal tax law or policy; the impact of recent and future legislative and regulatory changes; and increases in capital requirements. We undertake no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date of this news release. 

                 
    MORRIS STATE BANCSHARES, INC.
    AND SUBSIDIARIES
                                     
    Consolidating Balance Sheet
                                     
            September 30,   June 30,           September 30,      
              2024       2024     Change   % Change     2023     Change   % Change
            (Unaudited)   (Unaudited)           (Unaudited)        
    ASSETS                                
                                     
    Cash and due from banks       $ 48,180,615     $ 43,688,884     $ 4,491,731     10.28 %   $ 36,373,555     $ 11,807,060     32.46 %
    Federal funds sold         11,932,122       14,624,710       (2,692,588 )   -18.41 %     8,695,149       3,236,973     37.23 %
    Total cash and cash equivalents         60,112,737       58,313,594       1,799,143     3.09 %     45,068,704       15,044,033     33.38 %
                                     
    Interest-bearing time deposits in other banks         100,000       100,000       —     0.00 %     100,000       —     0.00 %
    Securities available for sale, at fair value         6,299,609       7,669,642       (1,370,033 )   -17.86 %     3,879,531       2,420,078     0.00 %
    Securities held to maturity, at cost (net of CECL Reserve)         224,532,603       227,532,821       (3,000,218 )   -1.32 %     244,837,916       (20,305,313 )   -8.29 %
    Federal Home Loan Bank stock, restricted, at cost         1,740,300       1,027,800       712,500     69.32 %     1,727,100       13,200     0.76 %
    Loans, net of unearned income         1,088,132,851       1,081,790,223       6,342,628     0.59 %     1,049,730,890       38,401,961     3.66 %
    Less-allowance for credit losses         (14,179,392 )     (14,109,191 )     (70,201 )   0.50 %     (13,860,420 )     (318,972 )   2.30 %
    Loans, net         1,073,953,459       1,067,681,032       6,272,427     0.59 %     1,035,870,470       38,082,989     3.68 %
                                  –      
    Bank premises and equipment, net         12,912,111       13,051,972       (139,861 )   -1.07 %     13,325,846       (413,735 )   -3.10 %
    ROU assets for operating lease, net         854,808       945,268       (90,460 )   -9.57 %     1,216,601       (361,793 )   -29.74 %
    Goodwill         9,361,704       9,361,704       —     0.00 %     9,361,704       —     0.00 %
    Intangible assets, net         1,422,326       1,508,214       (85,888 )   -5.69 %     1,765,877       (343,551 )   -19.45 %
    Other real estate and foreclosed assets         39,755       43,408       (3,653 )   -8.42 %     3,567,309       (3,527,554 )   -98.89 %
    Accrued interest receivable         6,640,617       6,421,999       218,618     3.40 %     5,585,081       1,055,536     18.90 %
    Cash surrender value of life insurance         15,022,374       14,915,967       106,407     0.71 %     14,613,337       409,037     2.80 %
    Other assets         22,311,520       21,721,225       590,295     2.72 %     25,711,989       (3,400,469 )   -13.23 %
    Total Assets       $ 1,435,303,923     $ 1,430,294,646     $ 5,009,277     0.35 %   $ 1,406,631,465       28,672,458     2.04 %
                                     
                                     
    LIABILITIES AND SHAREHOLDERS’ EQUITY                                
                                     
    Deposits:                                
    Non-interest bearing       $ 320,503,732     $ 298,997,994     $ 21,505,738     7.19 %   $ 316,825,603       3,678,129     1.16 %
    Interest bearing         876,274,737       914,360,430       (38,085,693 )   -4.17 %     862,167,812       14,106,925     1.64 %
              1,196,778,469       1,213,358,424       (16,579,955 )   -1.37 %     1,178,993,415       17,785,054     1.51 %
                                  –      
    Other borrowed funds         34,009,138       18,998,904       15,010,234     79.01 %     42,132,633       (8,123,495 )   -19.28 %
    Lease liability for operating lease         854,808       945,268       (90,460 )   -9.57 %     1,216,601       (361,793 )   -29.74 %
    Accrued interest payable         2,114,956       1,730,280       384,676     22.23 %     979,913       1,135,043     115.83 %
    Accrued expenses and other liabilities         10,938,057       9,038,821       1,899,236     21.01 %     10,056,934       881,123     8.76 %
                                  –      
    Total liabilities         1,244,695,428       1,244,071,697       623,731     0.05 %     1,233,379,496       11,315,932     0.92 %
                                     
    Shareholders’ Equity:                                
    Common stock         10,688,223       10,688,223       —     0.00 %     2,179,210       8,509,013     390.46 %
    Paid in capital surplus         34,867,691       34,729,351       138,340     0.40 %     41,548,417       (6,680,726 )   -16.08 %
    Retained earnings         131,085,914       132,061,494       (975,580 )   -0.74 %     116,705,941       14,379,973     12.32 %
    Current year earnings         15,660,043       10,213,197       5,446,846     53.33 %     13,404,804       2,255,239     16.82 %
    Accumulated other comprehensive income (loss)         1,582,952       1,648,392       (65,440 )   -3.97 %     2,148,509       (565,557 )   -26.32 %
    Treasury Stock, at cost 91,878         (3,276,328 )     (3,117,708 )     (158,620 )   5.09 %     (2,734,912 )     (541,416 )   19.80 %
    Total shareholders’ equity         190,608,495       186,222,949       4,385,546     2.35 %     173,251,969       17,356,526     10.02 %
                                     
    Total Liabilities and Shareholders’ Equity       $ 1,435,303,923     $ 1,430,294,646       5,009,277     0.35 %   $ 1,406,631,465       28,672,458     2.04 %
                                     
    MORRIS STATE BANCSHARES, INC.
    AND SUBSIDIARIES
                                         
    Consolidating Statement of Income
    for the Three Months Ended
                                         
                September 30,   June 30,           September 30,
    		              
                  2024     2024   Change   % Change     2023     Change   % Change
                (Unaudited)   (Unaudited)           (Unaudited)        
    Interest and Dividend Income:                                    
    Interest and fees on loans           $ 18,630,690   $ 17,879,134   $ 751,556     4.20 %   $ 15,803,711     $ 2,826,979     17.89 %
    Interest income on securities             1,825,236     1,837,396     (12,160 )   -0.66 %     2,051,695       (226,459 )   -11.04 %
    Income on federal funds sold             163,624     156,184     7,440     4.76 %     216,377       (52,753 )   -24.38 %
    Income on time deposits held in other banks             338,433     590,205     (251,772 )   -42.66 %     302,545       35,888     11.86 %
    Other interest and dividend income             21,031     64,639     (43,608 )   -67.46 %     43,630       (22,599 )   -51.80 %
    Total interest and dividend income             20,979,014     20,527,558     451,456     2.20 %     18,417,958       2,561,056     13.91 %
                                         
    Interest Expense:                                    
    Deposits             6,671,982     6,568,679     103,303     1.57 %     5,109,712       1,562,270     30.57 %
    Interest on other borrowed funds             309,265     389,629     (80,364 )   -20.63 %     455,105       (145,840 )   -32.05 %
    Interest on federal funds purchased             —     —     —     —       —       —     0.00 %
    Total interest expense             6,981,247     6,958,308     22,939     0.33 %     5,564,817       1,416,430     25.45 %
                                         
    Net interest income before provision for loan losses             13,997,767     13,569,250     428,517     3.16 %     12,853,141       1,144,626     8.91 %
    Less-provision for credit losses             252,021     272,419     (20,398 )   -7.49 %     (33,351 )     285,372     -855.66 %
    Net interest income after provision for credit losses             13,745,746     13,296,831     448,915     3.38 %     12,886,492       859,254     6.67 %
                                         
    Noninterest Income:                                    
    Service charges on deposit accounts             576,751     535,847     40,904     7.63 %     532,598       44,153     8.29 %
    Other service charges, commissions and fees             399,839     397,787     2,052     0.52 %     399,587       252     0.06 %
    Gain on sales of foreclosed assets             —     —     —     0.00 %     —       —     0.00 %
    Gain on sales of premises and equipment             —     141     (141 )   -100.00 %     —       —     0.00 %
    Increase in CSV of life insurance             106,407     102,828     3,579     3.48 %     97,005       9,402     9.69 %
    Other income             23,002     355,155     (332,153 )   -93.52 %     7,681       15,321     199.47 %
    Total noninterest income             1,105,999     1,391,758     (285,759 )   -20.53 %     1,036,871       69,128     6.67 %
                                         
    Noninterest Expense:                                    
    Salaries and employee benefits             4,794,940     4,650,704     144,236     3.10 %     4,374,087       420,853     9.62 %
    Occupancy and equipment expenses, net             592,165     536,330     55,835     10.41 %     599,714       (7,549 )   -1.26 %
    Loss on sales and calls of securities             —     265     (265 )   0.00 %     —       —     0.00 %
    Loss on Sales of premises and equipment             —     —     —     0.00 %     54,269       (54,269.0 )   0.00 %
    Loss on sales of foreclosed assets             2,065     —     2,065     0.00 %     320,110       (318,045 )   0.00 %
    Other expenses             3,752,517     3,860,188     (107,671 )   -2.79 %     3,837,844       (85,327 )   -2.22 %
    Total noninterest expense             9,141,687     9,047,487     94,200     1.04 %     9,186,024       (44,337 )   -0.48 %
                                         
    Income Before Income Taxes             5,710,058     5,641,102     68,956     1.22 %     4,737,339       972,719     20.53 %
    Provision for income taxes             263,212     318,723     (55,511 )   17.42 %     244,258       18,954     7.76 %
                                      –      
    Net Income           $ 5,446,846   $ 5,322,379     124,467     2.34 %   $ 4,493,081       953,765     21.23 %
                                         
                                         
    Earnings per common share:                                    
    Basic           $ 0.51   $ 0.50     0.01     2.43 %   $ 0.42       0.09     21.00 %
    Diluted           $ 0.51   $ 0.50     0.01     2.00 %   $ 0.42       0.09     21.43 %
                                         
    Per share amounts for September 30, 2023 and previous quarters have been adjusted to reflect the April 22, 2024 5-for-1 stock dividend.
                                         
                 Quarter Ending
                     
                September 30, June 30, September 30,
                  2024       2024       2023  
    Dollars in thousand       (Unaudited) (Unaudited) (Unaudited)
                     
    Per Share Data        
    Basic Earnings per Common Share     $ 0.51     $ 0.50     $ 0.42  
    Diluted Earnings per Common Share       0.51       0.50       0.42  
    Dividends per Common Share       0.092       0.092       0.088  
    Book Value per Common Share       17.99       17.56       16.37  
    Tangible Book Value per Common Share     16.97       16.53       15.32  
                     
    Average Diluted Shared Outstanding       10,602,348       10,611,811       10,582,485  
    End of Period Common Shares Outstanding     10,596,345       10,605,080       10,582,494  
                     
                     
    Annualized Performance Ratios (Bank Only)      
    Return on Average Assets         1.65%       1.73%       1.45%  
    Return on Average Equity         12.37%       13.12%       11.37%  
    Equity/Assets           13.23%       13.18%       12.79%  
    Yield on Earning Assets         6.05%       5.96%       5.48%  
    Cost of Funds           2.18%       2.16%       1.69%  
    Net Interest Margin         4.10%       4.02%       3.94%  
    Efficiency Ratio           58.90%       58.36%       62.24%  
                     
    Credit Metrics              
    Allowance for Loan Losses to Total Loans     1.30%       1.30%       1.32%  
    Adversely Classified Assets to Tier 1 Capital        
    plus Allowance for Loan Losses       6.15%       6.04%       7.00%  
                     
    Per share amounts for September 30, 2023 and previous quarters have been adjusted to reflect the April 22, 2024 5-for-1 stock dividend.

    The MIL Network –

  • MIL-OSI: Music Licensing, Inc. (OTC: SONG) Corrects ROI to 110.43% on 30-Year Royalty Stream Deal Involving Works by Miley Cyrus, Elton John, Lil Nas X, and XXXTENTACION, While Retaining Lifetime Ownership Rights

    Source: GlobeNewswire (MIL-OSI)

    Naples, FL, Oct. 23, 2024 (GLOBE NEWSWIRE) — Music Licensing, Inc. (OTC: SONG), a leader in the acquisition and management of music royalties, is issuing a correction regarding the financial performance of its recent sale of a 30-year royalty stream, which includes works by major artists such as Miley Cyrus, Elton John, Lil Nas X, and XXXTENTACION. The company initially reported a return on investment (ROI) of 106.04%. Upon recalculation, the correct ROI is 110.43%, following the receipt of additional royalty payments.

    Music Licensing, Inc. has received royalty payments totaling $36,489 USD since acquiring the rights to these works on November 23, 2023, alongside $140,200 USD generated from the sale of the 30-year royalty stream. With an initial acquisition cost of $160,000 USD, the company’s recalculated ROI demonstrates even stronger financial performance from this strategic investment.

    Works Included in the Transaction:

    • Miley Cyrus: “Unholy”
    • Elton John & Lil Nas X: “ONE OF ME”
    • Halsey: “clementine”
    • Halsey: “Honey”
    • Halsey: “Honey (John Cunningham Demo)”
    • Lauv: “I (Don’t) Have A Problem”
    • XXXTENTACION: “Kill My Vibe”
    • Lil Nas X: “LIFE AFTER SALEM”
    • Lil Wayne & XXXTENTACION: “School Shooters”
    • XXXTENTACION: “THE ONLY TIME I FEEL ALIVE”
    • 347aidan: “what i think about”
    • Halsey: “wipe your tears”
    • Halsey: “Lilith”

    Transaction Highlights:

    • Total Revenue from Sale: $140,200 USD from the sale of the 30-year royalty stream.
    • Royalties Already Received: $36,489 USD in royalty payments since acquisition.
    • Initial Investment: The company acquired the rights to these works for $160,000 USD on November 23, 2023.
    • Total ROI: Including both the royalty stream sale and royalties received, Music Licensing, Inc. has achieved a 110.43% ROI.

    Benefits to Shareholders:

    This transaction continues to demonstrate Music Licensing, Inc.’s ability to generate immediate returns while preserving future revenue potential. By monetizing a portion of future royalties, the company has not only realized significant returns but also retains ownership of these valuable assets for future revenue beyond the 30-year royalty stream. This strategic approach ensures that shareholders benefit from both short-term gains and long-term value creation.

    About Music Licensing, Inc. (OTC: SONG) (ProMusicRights.com)

    Music Licensing, Inc. (OTC: SONG), also known as Pro Music Rights, is a diversified holding company and the fifth public performance rights organization (PRO) formed in the United States. Its licensees include notable companies such as TikTok, iHeart Media, Triller, Napster, 7Digital, Vevo, and many others. Pro Music Rights holds an estimated market share of 7.4% in the United States, representing over 2,500,000 works by notable artists such as A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, Juelz Santana, Lil Yachty, MoneyBagg Yo, Larry June, Trae Pound, Sauce Walka, Trae Tha Truth, Sosamann, Soulja Boy, Lex Luger, Trauma Tone, Lud Foe, SlowBucks, Gunplay, OG Maco, Rich The Kid, Fat Trel, Young Scooter, Nipsey Hussle, Famous Dex, Boosie Badazz, Shy Glizzy, 2 Chainz, Migos, Gucci Mane, Young Dolph, Trinidad James, Chingy, Lil Gnar, 3OhBlack, Curren$y, Fall Out Boy, Money Man, Dej Loaf, Lil Uzi Vert, and countless others, as well as artificial intelligence (A.I.) created music.

    Additionally, Music Licensing, Inc. (OTC: SONG) owns royalty stakes in Listerine “Mouthwash” Antiseptic and musical works by artists such as The Weeknd, Justin Bieber, Kanye West, Elton John, Mike Posner, blackbear, Lil Nas X, Lil Yachty, DaBaby, Stunna 4 Vegas, Miley Cyrus, Lil Wayne, XXXTentacion, Jeremih, Ty Dolla $ign, Eric Bellinger, Ne-Yo, MoneyBagg Yo, Halsey, Desiigner, DaniLeigh, Rihanna, and numerous others.

    Forward-Looking Statements:

    This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Music Licensing, Inc. & Pro Music Rights, Inc. to accomplish its stated plan of business. Music Licensing, Inc. & Pro Music Rights, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Pro Music Rights, Inc., Music Licensing, Inc., or any other person.

    Non-Legal Advice Disclosure:

    This press release does not constitute legal advice, and readers are advised to seek legal counsel for any legal matters or questions related to the content herein.

    Non-Investment Advice Disclosure:

    This communication is intended solely for informational purposes and does not in any way imply or constitute a recommendation or solicitation for the purchase or sale of any securities, commodities, bonds, options, derivatives, or any other investment products. Any decisions related to investments should be made after thorough research and consultation with a qualified financial advisor or professional. We assume no liability for any actions taken or not taken based on the information provided in this communication.

    Contact: investors@ProMusicRights.com / ssmith@smallcapvoice.com

    SOURCE: Music Licensing, Inc.

    The MIL Network –

  • MIL-OSI: Envoy Medical to Present at the LD Micro Main Event XVII

    Source: GlobeNewswire (MIL-OSI)

    WHITE BEAR LAKE, Minnesota, Oct. 23, 2024 (GLOBE NEWSWIRE) — Envoy Medical®, Inc. (“Envoy Medical”) (NASDAQ: “COCH”), a hearing health company focused on fully implanted hearing systems, today announced that David R. Wells, Chief Financial Officer, will present a corporate overview at the LD Micro Main Event XVII. The conference is being held on October 28 – 30, 2024 at the Luxe Sunset Boulevard Hotel in Los Angeles.

    Event:                                                  LD Micro Main Event XVII

    Presentation Date:                            Tuesday, October 29, 2024

    Time:                                                   12:00 PM Pacific Time

    Register to watch presentation:       https://me24.sequireevents.com/

    Mr. Wells will be available for one-on-one meetings with registered investors of the conference.

    About the Esteem® Fully Implanted Active Middle Ear Implant (FI-AMEI)

    The Esteem fully implanted active middle ear implant (FI-AMEI) is the only FDA-approved, fully implanted* hearing device for adults diagnosed with moderate to severe sensorineural hearing loss allowing for 24/7 hearing capability using the ear’s natural anatomy. The Esteem FI-AMEI hearing implant is invisible and requires no externally worn components and nothing is placed in the ear canal for it to function. Unlike hearing aids, you never put it on or take it off. You can’t lose it. You don’t clean it. The Esteem FI-AMEI hearing implant offers true 24/7 hearing.

    *Once activated, the external Esteem FI-AMEI Personal Programmer is not required for daily use.

    Important safety information for the Esteem FI-AMEI can be found at: https://www.envoymedical.com/safety-information.

    About the Fully Implanted Acclaim® Cochlear Implant

    We believe the fully implanted Acclaim Cochlear Implant (“Acclaim CI”) will be a first-of-its-kind fully implanted cochlear implant. Envoy Medical’s fully implanted technology includes a sensor designed to leverage the natural anatomy of the ear instead of a microphone to capture sound.

    The Acclaim CI is designed to address severe to profound sensorineural hearing loss that is not adequately addressed by hearing aids. The Acclaim CI is expected to be indicated for adults who have been deemed adequate candidates by a qualified physician.

    The Acclaim Cochlear Implant received the Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) in 2019. We believe the Acclaim CI was the first hearing-focused device to receive Breakthrough Device Designation.

    CAUTION The fully implanted Acclaim Cochlear Implant is an investigational device. Limited by Federal (or United States) law to investigational use.

    Additional Information and Where to Find It

    Copies of the documents filed by Envoy Medical with the SEC may be obtained free of charge at the SEC’s website at http://www.sec.gov.

    Forward-Looking Statements

    This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-Looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Such statements may include, but are not limited to, statements regarding the expectations of Envoy Medical concerning the outlook for its business, productivity, plans and goals for future operational improvements and capital investments; the future market trading performance of our Class A Common Stock; the future size of the market for our products; the performance and benefits of our products in comparison to competitor products; the benefits of intellectual property developed by Envoy; the potential for passage of legislation related to reimbursement for active middle ear hearing devices; the impact that such proposed legislation might have on the hearing health market, reimbursement for the Esteem FI-AMEI device, and the Envoy Medical business; and future market conditions or economic performance, as well as any information concerning possible or assumed future operations of Envoy Medical. The forward-looking statements contained in this press release reflect Envoy Medical’s current views about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that may cause its actual results to differ significantly from those expressed in any forward-looking statement. Envoy Medical does not guarantee that the events described will happen as described (or that they will happen at all). These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to changes in the market price of shares of Envoy Medical’s Class A Common Stock; changes in or removal of Envoy Medical’s shares inclusion in any index; Envoy Medical’s success in retaining or recruiting, or changes required in, its officers, key employees or directors; unpredictability in the medical device industry, the regulatory process to approve medical devices, and the clinical development process of Envoy Medical products; competition in the medical device industry, and the failure to introduce new products and services in a timely manner or at competitive prices to compete successfully against competitors; disruptions in relationships with Envoy Medical’s suppliers, or disruptions in Envoy Medical’s own production capabilities for some of the key components and materials of its products; changes in the need for capital and the availability of financing and capital to fund these needs; changes in interest rates or rates of inflation; legal, regulatory and other proceedings could be costly and time-consuming to defend; changes in applicable laws or regulations, or the application thereof on Envoy Medical; a loss of any of Envoy Medical’s key intellectual property rights or failure to adequately protect intellectual property rights; the effects of catastrophic events, including war, terrorism and other international conflicts; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward Looking Statements” in the Annual Report on Form 10-K filed by Envoy Medical on April 1, 2024, and in other reports Envoy Medical files, with the SEC. If any of these risks materialize or Envoy Medical’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. While forward-looking statements reflect Envoy Medical’s good faith beliefs, they are not guarantees of future performance. Envoy Medical disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based only on information currently available to Envoy Medical.

    ###

    Investor Contact:

    CORE IR
    516-222-2560
    investorrelations@envoymedical.com

    The MIL Network –

  • MIL-OSI: Westport to Issue Q3 2024 Financial Results on November 12, 2024

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, Oct. 23, 2024 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (TSX: WPRT / Nasdaq: WPRT) (“Westport” or “The Company”) announces that the Company will release financial results for the third quarter of 2024 on Tuesday, November 12, 2024, after market close. A conference call and webcast to discuss the financial results and other corporate developments will be held on Wednesday, November 13, 2024.

    Time: 10:00 a.m. ET (7:00 a.m. PT)
    Call Link: https://register.vevent.com/register/BI0e453d34cd1c4f7da856b4eec14f0d4c
    Webcast: https://investors.wfsinc.com

    Participants may register up to 60 minutes before the event by clicking on the call link and completing the online registration form. Upon registration, the user will receive dial-in info and a unique PIN, along with an email confirming the details.

    The webcast will be archived on Westport’s website and a replay will be available at https://investors.wfsinc.com.

    About Westport Fuel Systems
    At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in more than 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit http://www.wfsinc.com.

    Investor Inquiries:
    Investor Relations
    T: +1 604-718-2046
    E: invest@wfsinc.com

    The MIL Network –

  • MIL-OSI: Clinical ink Announces the Promotion of John Pappadakis to Chief Commercial Officer and Megan Petrylak to Chief Operating Officer

    Source: GlobeNewswire (MIL-OSI)

    Winston Salem, NC, Oct. 23, 2024 (GLOBE NEWSWIRE) — Clinical ink, a global life science technology company, announces the promotion of John Pappadakis from EVP, Global Business Development to Chief Commercial Officer and Megan Petrylak from EVP, Clinical Operations to Chief Operating Officer. Jonathan Goldman MD, CEO of Clinical ink commented: “I am delighted to announce the promotion of two of our most seasoned and experienced executives.  With John Pappadakis as CCO, and Megan Petrylak as COO, Clinical ink has the ideal leadership team to drive us to the next phase of growth.  Our unwavering focus on quality and innovation make us the partner of choice for our biopharmaceutical partners and the patients they serve.”

    John Pappadakis, Chief Commercial Officer

    John Pappadakis has 34 years of experience in sales and marketing leadership roles within the pharma industry. His career includes commercial and R&D positions at Oracle and IMS Health, following positions of increasing seniority at Pfizer and Parke-Davis where he launched over 30 new molecular entities.

    As Clinical ink’s EVP, Global Business Development, John devised an innovative go-to-market strategy centered around the addition of scientific and medical expertise, and the incorporation of new FDA requirements into the Clinical ink technology platform.  His vision inspired the creation of the company’s newest integrated cardiometabolic product, GlucoseReady™.  Under his leadership, the company recruited a world-class commercial team and demonstrated record levels of key BD metrics.

    As Chief Commercial Officer, John will further diversify Clinical ink’s customer base with the addition of new large, medium and small biopharmaceutical companies, whilst solidifying the company’s CRO relationships and other industry alliances.  His plans include the deepening of the therapeutic area focus on cardiometabolic, CNS, immunology and oncology, the introduction of an end-to-end decentralized/digital health platform centered around eCOA and EDCXtra™, as well as new licensing-based business models.  Moving forward, John will be announcing novel and transformative AI-driven clinical trial innovations.

    Megan Petrylak, Chief Operating Officer

    Megan Petrylak has over 14 years of clinical trial experience in senior operational leadership roles. She has particularly focused on driving successful outcomes in phase 1-3 clinical trials for a wide range of global biopharmaceutical and CRO customers. Prior to her 6 year tenure at Clinical ink, Megan served as Director of Project Delivery at Worldwide Clinical Trials. Prior to that role, she headed Bioclinica’s centers for imaging and eClinical project management.

    As EVP, Clinical Operations, Megan oversaw Clinical ink’s entire customer, site, and patient-facing operations function.  She augmented the team with deep expertise in data management and data quality, mandating a quality-first culture. This resulted in impressive increases in customer satisfaction, complemented by significant reductions in all study build and execution metrics and excellent quality outcomes.  In addition, Megan’s team successfully launched new products including GlucoseReady™ and EDCXtra™ and has developed a range of industry partnerships including TransPerfect for translations and eClinical Solutions for complex data solutions.  Her deep subject matter expertise in eCOA and data management has been recognized at numerous industry consortia and she has served as an expert speaker at meetings such as the Society of Clinical Data Management.

    In her new role as Chief Operating Officer, Megan will oversee significant growth in Clinical ink’s revenue, broadening the customer base and expanding the range of integrated solutions. Her plans include upscaling the team to support the planned growth in revenue and margin profile, aided by automation of key operational and data processes. Megan will continue to prioritize quality to drive operational excellence and ensure exceptional delivery to clients.  

    About Clinical ink

    Clinical ink is the global life science company bringing data, technology, and patient-centric research together. Our deep therapeutic-area expertise, coupled with behavioral science, eDC/Direct Data Capture, eCOA, eConsent, telehealth, and digital biomarkers advancement (including the use of Continuous Glucose Monitoring for detection of hypoglycemia), support the next generation of clinical trials and ultimately, the clinical management of patients.

    The MIL Network –