Category: Business

MIL-OSI: PennantPark Floating Rate Capital Ltd. Announces Financial Results for the First Quarter Ended December 31, 2024

Source: GlobeNewswire (MIL-OSI)

MIAMI, Feb. 10, 2025 (GLOBE NEWSWIRE) — PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) announced today its financial results for the first quarter ended December 31, 2024.

HIGHLIGHTS
Quarter ended December 31, 2024 (Unaudited)
($ in millions, except per share amounts)

Assets and Liabilities:
Investment portfolio ⁽¹⁾	$	2,193.9
Net assets	$	962.7
GAAP net asset value per share	$	11.34
Quarterly increase in GAAP net asset value per share		0.3	%
Adjusted net asset value per share ⁽²⁾	$	11.34
Quarterly increase in adjusted net asset value per share ⁽²⁾		0.3	%

Credit Facility	$	608.8
2036 Asset-Backed Debt	$	284.2
2036-R Asset Backed Debt	$	265.3
2026 Notes	$	184.0
Regulatory debt to equity	1.40x
Weighted average yield on debt investments at quarter-end		10.6	%

Operating Results:
Net investment income	$	30.0
Net investment income per share (GAAP)	$	0.37
Core net investment income per share ⁽³⁾	$	0.33
Distributions declared per share	$	0.31

Portfolio Activity:
Purchases of investments	$	606.9
Sales and repayments of investments	$	401.3

PSSL Portfolio data:
PSSL investment portfolio	$	1,046.2
Purchases of investments	$	224.9
Sales and repayments of investments	$	86.6

Includes investments in PennantPark Senior Secured Loan Fund I LLC, or PSSL, an unconsolidated joint venture, totaling $286.6 million, at fair value.
This is a non-GAAP financial measure. The Company believes that this number provides useful information to investors and management because it reflects the Company’s financial performance excluding the impact of the unrealized amounts on the Credit Facility. The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP.
Core net investment income (“Core NII”) is a non-GAAP financial measure. The Company believes that Core NII provides useful information to investors and management because it reflects the Company’s financial performance excluding one-time or non-recurring investment income and expenses. The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP. For the quarter ended December 31, 2024, Core NII excluded: i) $3.8m of accelerated amortization income from the early repayment of a loan and ii) $0.8m of incentive fee expense.

CONFERENCE CALL AT 9:00 A.M. ET ON FEBRUARY 11, 2025

The Company will also host a conference call at 9:00 a.m. (Eastern Time) on Tuesday February 11, 2025 to discuss its financial results. All interested parties are welcome to participate. You can access the conference call by dialing toll-free (888) 394-8218 approximately 5-10 minutes prior to the call. International callers should dial (929) 477-0402. All callers should reference conference ID #1777320 or PennantPark Floating Rate Capital Ltd. An archived replay will also be available on a webcast link located on the Quarterly Earnings page in the Investor section of PennantPark’s website.

PORTFOLIO AND INVESTMENT ACTIVITY

“We are pleased to have another quarter of solid performance from both an NAV and net investment income perspective. We are actively investing in this excellent vintage of new core middle market loans,” said Art Penn, Chairman and CEO. “Through the growing balance sheets of PFLT and our PSSL joint venture, we are driving meaningfully increased income.”

As of December 31, 2024, our portfolio totaled $2,193.9 million, and consisted of $1,963.8 million of first lien secured debt (including $237.7 million in PSSL), $3.4 million of subordinated debt and $226.7 million of preferred and common equity (including $48.9 million in PSSL). Our debt portfolio consisted of approximately 100% variable-rate investments. As of December 31, 2024, we had two portfolio companies on non-accrual, representing 0.4% and 0.1% of our overall portfolio on a cost and fair value basis, respectively. As of December 31, 2024, the portfolio had net unrealized depreciation of $40.4 million. Our overall portfolio consisted of 159 companies with an average investment size of $13.8 million and had a weighted average yield on debt investments of 10.6%.

As of September 30, 2024, our portfolio totaled $1,983.5 million and consisted of $1,746.7 million of first lien secured debt (including $237.7 million in PSSL), $2.7 million of second lien secured debt and subordinated debt and $234.1 million of preferred and common equity (including $56.5 million in PSSL). Our debt portfolio consisted of approximately 100% variable-rate investments. As of September 30, 2024, we had two portfolio companies on non-accrual, representing 0.4% and 0.2% of our overall portfolio on a cost and fair value basis, respectively. As of September 30, 2024, the portfolio had net unrealized depreciation of $11.4 million. Our overall portfolio consisted of 158 companies with an average investment size of $12.6 million, and a weighted average yield on debt investments of 11.5%.

For the three months ended December 31, 2024, we invested $606.9 million in 11 new and 58 existing portfolio companies at a weighted average yield on debt investments of 10.3%. Sales and repayments of investments for the same period totaled $401.3 million including $187.7 million of sales to PSSL. For the three months ended December 31, 2023, we invested $302.6 million in 13 new and 34 existing portfolio companies with a weighted average yield on debt investments of 11.9%. Sales and repayments of investments for the same period totaled $103.8 million, including $62.7 million of sales to PSSL.

PennantPark Senior Secured Loan Fund I LLC

The Company and its joint venture partner jointly agreed to invest an additional $100 million of capital in PSSL. In conjunction with increased leverage capacity at PSSL, the $100 million investment will expand the joint venture’s total investment capacity to $1.5 billion, representing a nearly $500 million increase.

As of December 31, 2024, PSSL’s portfolio totaled $1,046.2 million, consisted of 118 companies with an average investment size of $8.9 million and had a weighted average yield on debt investments of 10.8%. As of September 30, 2024, PSSL’s portfolio totaled $913.3 million, consisted of 109 companies with an average investment size of $8.4 million and had a weighted average yield on debt investments of 11.4%.

For the three months ended December 31, 2024, PSSL invested $224.9 million (including $187.7 million purchase from the Company) in 17 new and eight existing portfolio companies with a weighted average yield on debt investments of 10.3%. PSSL’s sales and repayments of investments for the same period totaled $86.6 million. For the three months ended December 31, 2023, PSSL invested $75.7 million (including $62.7 million purchased from the Company) in four new and nine existing portfolio companies with a weighted average yield on debt investments of 12.3%. PSSL’s sales and repayments of investments for the same period totaled $27.7 million.

RESULTS OF OPERATIONS

Set forth below are the results of operations for the three months ended December 31, 2024 and 2023.

Investment Income

For the three months ended December 31, 2024 investment income was $67.0 million, which was attributable to $61.0 million from first lien secured debt and $6.0 million from other investments. For the three months ended December 31, 2023, investment income was $38.0 million, which was attributable to $33.2 million from first lien secured debt and $4.8 million from other investments. The increase in investment income was primarily due to the increase in the size of the debt portfolio.

Expenses

For the three months ended December 31, 2024, expenses totaled $37.0 million and were comprised of: $22.4 million of debt related interest and expenses, $5.3 million of base management fees, $7.5 million of performance-based incentive fees, $1.7 million of general and administrative expenses and $0.2 million of taxes. For the three months ended December 31, 2023, expenses totaled $18.5 million and were comprised of: $8.9 million of debt related interest and expenses, $3.0 million of base management fees, $4.9 million of performance-based incentive fees, $1.6 million of general and administrative expenses and $0.2 million of taxes. The increase in expenses was primarily due to the increase in interest expense from increased borrowings and an increase in base management fees and incentive fee as a result of the increase in our investment portfolio.

Net Investment Income

For the three months ended December 31, 2024 and 2023, net investment income totaled $30.0 million or $0.37 per share, and $19.4 million or $0.33 per share, respectively. The increase in net investment income was primarily due to an increase in investment income partially offset by an increase in expenses.

Net Realized Gains or Losses

For the three months ended December 31, 2024 and 2023, net realized gains (losses) totaled $26.7 million and $(3.1) million, respectively. The change in net realized gains (losses) was primarily due to changes in the market conditions of our investments and the values at which they were realized.

Unrealized Appreciation or Depreciation on Investments and Debt

For the three months ended December 31, 2024 and 2023, we reported net change in unrealized appreciation (depreciation) on investments of $(29.0) million and $6.2 million, respectively. As of December 31, 2024 and September 30, 2024, our net unrealized appreciation (depreciation) on investments totaled $(40.4) million and $(11.4) million, respectively. The net change in unrealized appreciation (depreciation) on our investments was primarily due to the operating performance of the portfolio companies within our portfolio and changes in the capital market conditions of our investments and realization of investments.

For the three months ended December 31, 2024 and 2023, our Credit Facility had a net change in unrealized appreciation (depreciation) of $0.1 million and of less than ($0.1) million, respectively. As of December 31, 2024 and September 30, 2024, the net unrealized appreciation (depreciation) on the Credit Facility totaled approximately $0.1 million and zero, respectively. The net change in net unrealized (appreciation) or depreciation was primarily due to changes in the capital markets.

Net Change in Net Assets Resulting from Operations

For the three months ended December 31, 2024 and 2023, net increase (decrease) in net assets resulting from operations totaled $28.3 million or $0.35 per share and $22.5 million, or $0.38 per share, respectively. The net increase or (decrease) from operations was primarily due to operating performance of our portfolio and changes in capital market conditions of our investments along with change in size and cost yield of our debt portfolio and costs of financing.

LIQUIDITY AND CAPITAL RESOURCES

Our liquidity and capital resources are derived primarily from cash flows from operations, including income earned, proceeds from investment sales and repayments, and proceeds of securities offerings and debt financings. Our primary use of funds from operations includes investments in portfolio companies and payments of fees and other operating expenses we incur. We have used, and expect to continue to use, our debt capital, proceeds from our portfolio and proceeds from public and private offerings of securities to finance our investment objectives and operations.

The multi-currency Credit Facility with affiliates of Truist Bank, or the Lenders, was upsized during the quarter to $736 million (increased from $636 million in December 2024).

For the three months ended December 31, 2024 and 2023, the annualized weighted average cost of debt, inclusive of the fee on the undrawn commitment on the Credit Facility, amendment costs and debt issuance costs, was 7.0% and 6.8%, respectively. As of December 31, 2024 and September 30, 2024, we had $127.1 million and $192.1 million of unused borrowing capacity under the Credit Facility, respectively, subject to leverage and borrowing base restrictions.

As of December 31, 2024 and September 30, 2024, we had cash equivalents of $102.3 million and $112.1 million, respectively, available for investing and general corporate purposes. We believe our liquidity and capital resources are sufficient to take advantage of market opportunities.

For the three months ended December 31, 2024, our operating activities used cash of $232.7 million and our financing activities provided cash of $222.9 million. Our operating activities used cash primarily due to our investment activities and our financing activities provided cash primarily from proceeds from the ATM program and borrowings under the Credit Facility.

For the three months ended December 31, 2023, our operating activities used cash of $181.9 million and our financing activities provided cash of $157.2 million. Our operating activities used cash primarily due to our investment activities and our financing activities provided cash primarily due to borrowings under the Credit Facility partially offset by the repayment of the 2023 Notes.

DISTRIBUTIONS

During the three months ended December 31, 2024 we declared distributions of $0.3075 per share for total distributions of $25.2 million. During the three months ended December 31, 2023, we declared distributions of $0.3075 per share for total distributions of $18.1 million. We monitor available net investment income to determine if a return of capital for tax purposes may occur for the fiscal year. To the extent our taxable earnings fall below the total amount of our distributions for any given fiscal year, stockholders will be notified of the portion of those distributions deemed to be a tax return of capital. Tax characteristics of all distributions will be reported to stockholders subject to information reporting on Form 1099-DIV after the end of each calendar year and in our periodic reports filed with the SEC.

RECENT DEVELOPMENTS

In February 2025, the Company priced a new securitization financing that is expected to close by early March. The new financing is a $361 million term debt securitization transaction with a weighted average spread of 1.59%, a four-year reinvestment period and a 12-year final maturity. The weighted average spread of 1.59% is a decrease of 30 basis points from an existing securitization financing that we refinanced in July 2024.

Securitization financing continues to be a good match for our lower risk first lien assets. We believe securitizations are attractive financing structures as they have a 12 year stated maturity and generally have 4 to 5 year reinvestment periods. The securitization financings are governed by an indenture similar to other bond instruments which prescribes how the securitization deals with credit deterioration, which means there is no risk of unpredictable behavior from the counterparties. In addition, securitizations are non mark to market financings regardless of broader market volatility. The only time an asset gets marked to market would be if there are defaults or if we experience CCC downgrades that would cause an excess CCC concentration, whereby only the excess CCC collateral is marked to market. The securitizations provide an attractive cost of capital that is well matched to the portfolio and provide a downside mitigation tool given the stable and consistent long-term nature of the financing.

AVAILABLE INFORMATION

The Company makes available on its website its Quarterly Report on Form 10-Q filed with the SEC, and stockholders may find such report on its website at www.pennantpark.com.

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (in thousands, except per share data)

	December 31, 2024			September 30, 2024
	(unaudited)
Assets
Investments at fair value
Non-controlled, non-affiliated investments (amortized cost— $1,894,793 and $1,622,669, respectively)	$	1,907,349		$	1,632,269
Controlled, affiliated investments (amortized cost— $339,500 and $372,271, respectively)		286,561			351,235
Total investments (amortized cost— $2,234,293 and $1,994,940, respectively)		2,193,910			1,983,504
Cash and cash equivalents (cost— $102,273 and $112,046, respectively)		102,262			112,050
Interest receivable		13,024			12,167
Receivables from investments sold		29,090			—
Distributions receivable		577			635
Due from affiliate		312			291
Prepaid expenses and other assets		5,026			198
Total assets		2,344,201			2,108,845
Liabilities
Credit Facility payable, at fair value (cost— $608,855 and $443,855, respectively)		608,791			443,880
2026 Notes payable, net (par—$185,000)		184,026			183,832
2036 Asset-Backed Debt, net (par—$287,000)		284,222			284,086
2036-R Asset-Backed Debt, net (par-$266,000)		265,268			265,235
Payable for investments purchased		471			20,363
Interest payable on debt		13,318			14,645
Distributions payable		8,698			7,834
Base management fee payable		5,264			4,588
Incentive fee payable		7,492			3,189
Accounts payable and accrued expenses		2,920			2,187
Deferred tax liability		1,080			1,712
Total liabilities		1,381,550			1,231,551
Net assets
Common stock, 84,855,896 and 77,579,896 shares issued and outstanding, respectively Par value $0.001 per share and 200,000,000 shares authorized		85			78
Paid-in capital in excess of par value		1,058,949			976,744
Accumulated deficit		(96,383	)		(99,528	)
Total net assets	$	962,651		$	877,294
Total liabilities and net assets	$	2,344,201		$	2,108,845
Net asset value per share	$	11.34		$	11.31

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (Unaudited)

	Three Months Ended December 31,
	2024			2023
Investment income:
From non-controlled, non-affiliated investments:
Interest	$	47,463		$	23,768
Dividend		577			508
Other income		1,480			1,763
From controlled, affiliated investments:
Interest		12,808			8,434
Dividend		4,375			3,500
Other income		306			—
Total investment income		67,009			37,973
Expenses:
Interest and expenses on debt		22,361			8,942
Performance-based incentive fee		7,492			4,863
Base management fee		5,264			2,951
General and administrative expenses		1,200			988
Administrative services expenses		500			626
Expenses before provision for taxes and financing costs		36,817			18,370
Provision for taxes on net investment income		225			154
Total expenses		37,042			18,524
Net investment income		29,967			19,449
Realized and unrealized gain (loss) on investments and debt:
Net realized gain (loss) on:
Non-controlled, non-affiliated investments		1,181			(3,089	)
Non-controlled and controlled, affiliated investments		25,493			—
Provision for taxes on realized gain on investments		(73	)		—
Net realized gain (loss) on investments		26,601			(3,089	)
Net change in unrealized appreciation (depreciation) on:
Non-controlled, non-affiliated investments		2,943			5,228
Controlled and non-controlled, affiliated investments		(31,904	)		943
Provision for taxes on unrealized appreciation (depreciation) on investments		632			—
Debt appreciation (depreciation)		90			(62	)
Net change in unrealized appreciation (depreciation) on investments and debt		(28,239	)		6,109
Net realized and unrealized gain (loss) from investments and debt		(1,638	)		3,020
Net increase (decrease) in net assets resulting from operations	$	28,329		$	22,469
Net increase (decrease) in net assets resulting from operations per common share	$	0.35		$	0.38
Net investment income per common share	$	0.37		$	0.33

ABOUT PENNANTPARK FLOATING RATE CAPITAL LTD.

PennantPark Floating Rate Capital Ltd. is a business development company which primarily invests in U.S. middle-market companies in the form of floating rate senior secured loans, including first lien secured debt, second lien secured debt and subordinated debt. From time to time, the Company may also invest in equity investments. PennantPark Floating Rate Capital Ltd. is managed by PennantPark Investment Advisers, LLC.

ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC

PennantPark Investment Advisers, LLC is a leading middle-market credit platform, managing $9.4 billion of investable capital, including potential leverage. Since its inception in 2007, PennantPark Investment Advisers, LLC has provided investors access to middle-market credit by offering private equity firms and their portfolio companies as well as other middle-market borrowers a comprehensive range of creative and flexible financing solutions. PennantPark Investment Advisers, LLC is headquartered in Miami and has offices in New York, Chicago, Houston, Los Angeles, and Amsterdam.

FORWARD-LOOKING STATEMENTS AND OTHER

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You should understand that under Section 27A(b)(2)(B) of the Securities Act of 1933, as amended, and Section 21E(b)(2)(B) of the Securities Exchange Act of 1934, as amended, or the Exchange Act, the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 do not apply to forward-looking statements made in periodic reports we file under the Exchange Act. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results, and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. PennantPark Floating Rate Capital Ltd. undertakes no duty to update any forward-looking statement made herein. You should not place undue influence on such forward-looking statements as such statements speak only as of the date on which they are made.

We may use words such as “anticipates,” “believes,” “expects,” “intends,” “seeks,” “plans,” “estimates” and similar expressions to identify forward-looking statements. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations.

The information contained herein is based on current tax laws, which may change in the future. The Company cannot be held responsible for any direct or incidental loss resulting from applying any of the information provided in this publication or from any other source mentioned. The information provided in this material does not constitute any specific legal, tax or accounting advice. Please consult with qualified professionals for this type of advice.

CONTACT:	Richard T. Allorto, Jr.
	PennantPark Floating Rate Capital Ltd.
	(212) 905-1000
	www.pennantpark.com

The MIL Network –

February 11, 2025

MIL-OSI: Cipher Mining Announces Date of Fourth Quarter and Full Year 2024 Business Update Conference Call

Source: GlobeNewswire (MIL-OSI)

NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) — Cipher Mining Inc. (NASDAQ: CIFR) (“Cipher” or the “Company”) today announced it will provide a business update and release its fourth quarter and full year 2024 financial results before U.S. markets open on Tuesday, February 25, 2025. Cipher will host a conference call and webcast that day at 8:00 a.m. Eastern Time.

The live webcast and a webcast replay of the conference call can be accessed from the investor relations section of Cipher’s website at https://investors.ciphermining.com. To access this conference call by telephone, register here to receive dial-in numbers and a unique PIN to join the call.

About Cipher
Cipher is focused on the development and operation of industrial-scale data centers for bitcoin mining and HPC hosting. Cipher aims to be a market leader in innovation, including in bitcoin mining growth, data center construction and as a hosting partner to the world’s largest HPC companies. To learn more about Cipher, please visit https://www.ciphermining.com/.

Contacts:
Investor Contact:
Courtney Knight
Head of Investor Relations at Cipher Mining
Courtney.knight@ciphermining.com

Media Contact:
Ryan Dicovitsky / Kendal Till
Dukas Linden Public Relations
CipherMining@DLPR.com

The MIL Network –

February 11, 2025
MIL-OSI: iBio Reports Fiscal Second Quarter 2025 Financial Results
Source: GlobeNewswire (MIL-OSI)

SAN DIEGO, Feb. 10, 2025 (GLOBE NEWSWIRE) — iBio, Inc. (NYSEA:IBIO), today reported financial results for the second quarter ended Dec. 31, 2024, and provided a corporate update on its progress.

“In our second fiscal quarter we further strengthened our leadership with key Board appointments, reinforcing our commitment to innovation and execution as we work to develop next-generation therapeutics,” said CEO and Chief Scientific Officer Dr. Martin Brenner, Ph.D. “Following more recent developments, we also want to highlight the significant strides we have made in advancing our preclinical pipeline with the in-licensing of potentially best-in-class IBIO-600, the notable discovery of a novel Activin E antibody, and the launch of a bispecific antibody program targeting myostatin/activin A. We are excited by the momentum we have built through these results and remain focused on leveraging our AI-driven platform as we aim to transform the treatment landscape for patients with cardiometabolic diseases and obesity, offering hope for more effective, targeted therapies addressing the underlying causes of these conditions while improving overall metabolic health and quality of life.”

Fiscal Second Quarter 2025 & Recent Corporate Updates:
- Discovered a novel antibody targeting activin E in collaboration with AstralBio, leveraging iBio’s Machine-Learning Antibody Engine to overcome significant technical challenges, demonstrating the platform’s ability to engineer innovative therapeutics potentially for cardiometabolic disease and obesity.
- Expanded iBio’s cardiometabolic and obesity program with IBIO-600, the long-acting anti-myostatin antibody in-licensed from AstralBio in January. IBIO-600 was discovered by AstralBio through the use of iBio’s Machine-Learning Antibody Engine and was designed for subcutaneous administration with the potential for an extended half-life.
- Initiated a bispecific antibody program targeting myostatin/activin A to promote weight loss, muscle preservation, and prevent weight regain with plans for clinical investigation in obesity and cardiometabolic disorders in 2026. The program leverages iBio’s Machine-Learning Antibody Engine as well as the technology of IBIO-600.
- In January we further extended our cash runway with the closing of a private placement offering with members of our Board of Directors and Officers, underscoring their confidence and support in our strategy to advance as a clinical-stage biotech.
Fiscal Second Quarter 2025 Financial Results:
- Revenue of $0.2 million was reported for services provided to a collaborative partner during the quarter ended Dec. 31, 2024.
- R&D and G&A expenses for the second quarter of fiscal 2025 totaled approximately $4.6 million as compared to $4.5 million in the same period of fiscal year 2024, an increase of approximately 3%. This slight increase is a result of additional spending on consumables supplies and research related activities offset by lower G&A personnel related costs, consulting fees and outside services spending. Net loss from continuing operations for the second quarter ended Dec. 31, 2024, was approximately $4.4 million, or $0.48 per share, compared to a net loss of approximately $4.5 million, or $2.42 per share, in the same period of fiscal 2024.
- Cash, cash equivalents and restricted cash as of Dec. 31, 2024, was approximately $7.2 million, inclusive of $0.2 million of restricted cash.
About iBio, Inc.

iBio (NYSEA: IBIO) is a cutting-edge biotech company leveraging AI and advanced computational biology to develop next-generation biopharmaceuticals for cardiometabolic diseases, obesity, cancer and other hard-to-treat diseases. By combining proprietary 3D modeling with innovative drug discovery platforms, iBio is creating a pipeline of breakthrough antibody treatments to address significant unmet medical needs. Our mission is to transform drug discovery, accelerate development timelines, and unlock new possibilities in precision medicine. For more information, visit www.ibioinc.com or follow us on LinkedIn.

Safe Harbor Statement

Any statements contained in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements.” The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements include statements regarding the potential for IBIO-600 to be best-in-class; leveraging iBio’s AI-driven platform to transform the treatment landscape for patients with cardiometabolic diseases and obesity, offering hope for more effective, targeted therapies addressing the underlying causes of these conditions while improving overall metabolic health and quality of life; IBIO-600’s potential for an extended half-life; iBio’s clinical investigation in obesity and cardiometabolic disorders in 2026; advancing as a clinical-stage biotech; the creation of a pipeline of breakthrough antibody treatments to address significant unmet medical needs; and transforming drug discovery, accelerating development timelines, and unlocking new possibilities in precision medicine… Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including iBio’s ability to -leverage its AI-driven platform to transform the treatment landscape for patients with cardiometabolic diseases and obesity with more effective, targeted therapies addressing the underlying causes of these conditions while improving overall metabolic health and quality of life; extend the half-life of IBIO-600; advance as a clinical-stage biotech and commence a clinical investigation in obesity and cardiometabolic disorders in 2026; create a pipeline of breakthrough antibody treatments to address significant unmet medical needs; and transform drug discovery, accelerate development timelines, and unlock new possibilities in precision medicine the ability to advance iBio’s internal pipeline priorities in immuno-oncology and cardiometabolics, and drive partnerships in new therapeutic areas, the ability to finance when needed and the risk factors described in the Company’s Annual Report on Form 10-K for the year ended Juen 30, 2024, and the Company’s subsequent filings with the SEC, including subsequent periodic reports on Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statements contained in this press release speak only as of the date hereof and, except as required by federal securities laws, iBio, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

Corporate Contact:

iBio, Inc.
Investor Relations
ir@ibioinc.com

Media Contacts:

Ignacio Guerrero-Ros, Ph.D., or David Schull
Russo Partners, LLC
Ignacio.guerrero-ros@russopartnersllc.com
David.schull@russopartnersllc.com
(858) 717-2310 or (646) 942-5604

The MIL Network –
February 11, 2025

MIL-OSI: SPS Commerce Reports Fourth Quarter and Fiscal Year 2024 Financial Results

Source: GlobeNewswire (MIL-OSI)

Company delivers 96th consecutive quarter of topline growth

Fourth quarter 2024 revenue grew 18% and recurring revenue grew 19% from the fourth quarter of 2023

MINNEAPOLIS, Feb. 10, 2025 (GLOBE NEWSWIRE) — SPS Commerce, Inc. (NASDAQ: SPSC), a leader in retail supply chain cloud services, today announced financial results for the fourth quarter and year ended December 31, 2024.

Financial Highlights

Fourth Quarter 2024 Financial Highlights

Revenue was $170.9 million in the fourth quarter of 2024, compared to $145.0 million in the fourth quarter of 2023, reflecting 18% growth.
Recurring revenue grew 19% from the fourth quarter of 2023.
Net income was $17.6 million or $0.46 per diluted share, compared to net income of $19.0 million or $0.51 per diluted share in the fourth quarter of 2023.
Non-GAAP income per diluted share was $0.89, compared to non-GAAP income per diluted share of $0.75 in the fourth quarter of 2023.
Adjusted EBITDA for the fourth quarter of 2024 increased 18% to $49.6 million compared to the fourth quarter of 2023.

Fiscal Year 2024 Financial Highlights

Revenue was $637.8 million for the year ended December 31, 2024, compared to $536.9 million for the year ended December 31, 2023, reflecting 19% growth.
Recurring revenue grew 20% from the year ended December 31, 2023.
Net income was $77.1 million or $2.04 per diluted share for the year ended December 31, 2024, compared to net income of $65.8 million or $1.76 per diluted share for the comparable period in 2023, reflecting 17% growth in year-over-year net income.
Non-GAAP income per diluted share was $3.48, compared to non-GAAP income per diluted share of $2.85 in the year ended December 31, 2023.
Adjusted EBITDA for the year ended December 31, 2024 increased 18% to $186.6 million compared to the year ended December 31, 2023.

“We are pleased with what we have accomplished in 2024, and I would like to congratulate SPS Commerce employees for their unwavering commitment to excellence and exceptional understanding of the retail supply chain,” said Chad Collins, CEO of SPS Commerce. “With the depth and breadth of solutions we offer today, we are uniquely positioned to support all trading relationships and continue growing our network to move the world of commerce forward.”

“We believe that SPS’ leading retail network and competitive product portfolio position us well to continue on our profitable growth trajectory,” said Kim Nelson, CFO of SPS Commerce.

Guidance*

First Quarter 2025 Guidance

Revenue is expected to be in the range of $178.5 million to $180.0 million, representing 19% to 20% year-over-year growth.
Net income per diluted share is expected to be in the range of $0.39 to $0.41, with fully diluted weighted average shares outstanding of 38.7 million shares.
Non-GAAP income per diluted share is expected to be in the range of $0.82 to $0.84.
Adjusted EBITDA is expected to be in the range of $49.5 million to $50.5 million.
Non-cash, share-based compensation expense is expected to be $15.0 million, depreciation expense is expected to be $5.4 million, and amortization expense is expected to be $9.2 million.

Fiscal Year 2025 Guidance

Revenue is expected to be in the range of $758.0 million to $763.0 million, representing 19% to 20% growth over 2024.
Net income per diluted share is expected to be in the range of $1.93 to $1.99, with fully diluted weighted average shares outstanding of 38.9 million shares.
Non-GAAP income per diluted share is expected to be in the range of $3.78 to $3.84.
Adjusted EBITDA is expected to be in the range of $227.5 million to $231.0 million, representing 22% to 24% growth over 2024.
Non-cash, share-based compensation expense is expected to be $63.0 million, depreciation expense is expected to be $23.5 million, and amortization expense is expected to be $39.8 million.

*Inclusive of the expected results of the Carbon6 acquisition

The forward-looking measures and the underlying assumptions involve significant known and unknown risks and uncertainties, and actual results may vary materially. The Company does not present a reconciliation of the forward-looking non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA margin, and non-GAAP income per share, to the most directly comparable GAAP financial measures because it is impractical to forecast certain items without unreasonable efforts due to the uncertainty and inherent difficulty of predicting, within a reasonable range, the occurrence and financial impact of and the periods in which such items may be recognized.

Quarterly Conference Call

To access the call, please dial 1-833-816-1382, or outside the U.S. 1-412-317-0475 at least 15 minutes prior to the 3:30 p.m. CT start time. Please ask to join the SPS Commerce Q4 2024 conference call. A live webcast of the call will also be available at http://investors.spscommerce.com under the Events and Presentations menu. The replay will also be available on our website at http://investors.spscommerce.com.

About SPS Commerce

SPS Commerce is the world’s leading retail network, connecting trading partners around the globe to optimize supply chain operations for all retail partners. We support data-driven partnerships with innovative cloud technology, customer-obsessed service, and accessible experts so our customers can focus on what they do best. Over 45,000 recurring revenue customers in retail, grocery, distribution, supply, manufacturing, and logistics are using SPS as their retail network. SPS has achieved 96 consecutive quarters of revenue growth and is headquartered in Minneapolis. For additional information, contact SPS at 866-245-8100 or visit www.spscommerce.com.

SPS COMMERCE, SPS, SPS logo and INFINITE RETAIL POWER are marks of SPS Commerce, Inc. and registered in the U.S. Patent and Trademark Office, along with other SPS marks. Such marks may also be registered or otherwise protected in other countries.

SPS-F

Use of Non-GAAP Financial Measures

To supplement our consolidated financial statements, we provide investors with Adjusted EBITDA, Adjusted EBITDA Margin, and non-GAAP income per share, all of which are non-GAAP financial measures. We believe that these non-GAAP financial measures provide useful information to our management, Board of Directors, and investors regarding certain financial and business trends relating to our financial condition and results of operations.

Our management uses these non-GAAP financial measures to compare our performance to that of prior periods for trend analyses and planning purposes. Adjusted EBITDA is also used for purposes of determining executive and senior management incentive compensation. We believe these non-GAAP financial measures are useful to an investor as they are widely used in evaluating operating performance. Adjusted EBITDA and Adjusted EBITDA Margin are used to measure operating performance without regard to items such as depreciation and amortization, which can vary depending upon accounting methods and the book value of assets, and to present a meaningful measure of corporate performance exclusive of capital structure and the method by which assets were acquired.

These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP. These non-GAAP financial measures exclude significant expenses and income that are required by GAAP to be recorded in our consolidated financial statements and are subject to inherent limitations. Investors should review the reconciliations of non-GAAP financial measures to the comparable GAAP financial measures that are included in this press release.

Adjusted EBITDA Measures:

Adjusted EBITDA consists of net income adjusted for income tax expense, depreciation and amortization expense, stock-based compensation expense, realized gain or loss from investments held and foreign currency impact on cash and investments, investment income, and other adjustments as necessary for a fair presentation. Other adjustments for the year ended December 31, 2024 included the expense impacts from disposals of certain capitalized internally developed software and one-time acquisition-related insurance costs. Other adjustments for the year ended December 31, 2023 included the expense impacts from disposals of certain capitalized internally developed software and acquisition-related employee severance costs. Net income is the comparable GAAP measure of financial performance.

Adjusted EBITDA Margin consists of Adjusted EBITDA divided by revenue. Margin, the comparable GAAP measure of financial performance, consists of net income divided by revenue.

Non-GAAP Income Per Share Measure:

Non-GAAP income per share consists of net income adjusted for stock-based compensation expense, amortization expense related to intangible assets, realized gain or loss from investments held and foreign currency impact on cash and investments, other adjustments as necessary for a fair presentation, including for the year ended December 31, 2024 the expense impacts from disposals of certain capitalized internally developed software and one-time acquisition-related insurance costs, and for the year ended December 31, 2023 the expense impacts from disposals of certain capitalized internally developed software and acquisition-related employee severance costs, and the corresponding tax impacts of the adjustments to net income, divided by the weighted average number of shares of common and diluted stock outstanding during each period. Net income per share, the comparable GAAP measure of financial performance, consists of net income divided by the weighted average number of shares of common and diluted stock outstanding during each period. To quantify the tax effects, we recalculated income tax expense excluding the direct book and tax effects of the specific items constituting the non-GAAP adjustments. The difference between this recalculated income tax expense and GAAP income tax expense is presented as the income tax effect of the non-GAAP adjustments.

Forward-Looking Statements

This press release may contain forward-looking statements, including information about management’s view of SPS Commerce’s future expectations, plans and prospects, including our views regarding future execution within our business, the opportunity we see in the retail supply chain world and our performance for the first quarter and full year of 2025, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of SPS Commerce to be materially different than those expressed or implied in such statements. Certain of these risk factors and others are included in documents SPS Commerce files with the Securities and Exchange Commission, including but not limited to, SPS Commerce’s Annual Report on Form 10-K for the year ended December 31, 2023, as well as subsequent reports filed with the Securities and Exchange Commission. Other unknown or unpredictable factors also could have material adverse effects on SPS Commerce’s future results. The forward-looking statements included in this press release are made only as of the date hereof. SPS Commerce cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SPS Commerce expressly disclaims any intent or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.



SPS COMMERCE, INC. CONSOLIDATED BALANCE SHEETS (Unaudited; in thousands, except shares)

	December 31, 2024			December 31, 2023
ASSETS
Current assets
Cash and cash equivalents	$	241,017		$	219,081
Short-term investments		—			56,359
Accounts receivable		56,214			50,160
Allowance for credit losses		(4,179	)		(3,320	)
Accounts receivable, net		52,035			46,840
Deferred costs		65,342			62,403
Other assets		23,513			16,758
Total current assets		381,907			401,441
Property and equipment, net		37,547			36,043
Operating lease right-of-use assets		8,192			7,862
Goodwill		399,180			249,176
Intangible assets, net		181,294			107,344
Other assets
Deferred costs, non-current		20,572			20,347
Deferred income tax assets		505			505
Other assets, non-current		2,033			1,126
Total assets	$	1,031,230		$	823,844
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable	$	8,577		$	7,420
Accrued compensation		47,160			41,588
Accrued expenses		12,108			8,014
Deferred revenue		74,256			69,187
Operating lease liabilities		4,583			4,460
Total current liabilities		146,684			130,669
Other liabilities
Deferred revenue, non-current		6,189			6,930
Operating lease liabilities, non-current		7,885			9,569
Deferred income tax liabilities		15,541			8,972
Other liabilities, non-current		241			229
Total liabilities		176,540			156,369
Commitments and contingencies
Stockholders’ equity
Common stock		40			39
Treasury stock		(99,748	)		(128,892	)
Additional paid-in capital		627,982			537,061
Retained earnings		336,099			259,045
Accumulated other comprehensive gain (loss)		(9,683	)		222
Total stockholders’ equity		854,690			667,475
Total liabilities and stockholders’ equity	$	1,031,230		$	823,844


SPS COMMERCE, INC. CONSOLIDATED STATEMENTS OF INCOME (Unaudited; in thousands, except per share amounts)

	Three Months Ended December 31,					Twelve Months Ended December 31,
		2024			2023		2024		2023
Revenues	$	170,907		$	144,965	$	637,765	$	536,910
Cost of revenues		55,585			49,040		210,714		182,069
Gross profit		115,322			95,925		427,051		354,841
Operating expenses
Sales and marketing		39,220			33,214		148,920		122,936
Research and development		17,142			14,216		62,809		53,654
General and administrative		26,354			20,612		102,929		84,887
Amortization of intangible assets		7,862			4,998		23,510		16,116
Total operating expenses		90,578			73,040		338,168		277,593
Income from operations		24,744			22,885		88,883		77,248
Other income (expense), net		(373	)		3,456		10,593		8,315
Income before income taxes		24,371			26,341		99,476		85,563
Income tax expense		6,812			7,330		22,422		19,739
Net income	$	17,559		$	19,011	$	77,054	$	65,824

Net income per share
Basic	$	0.47		$	0.52	$	2.07	$	1.80
Diluted	$	0.46		$	0.51	$	2.04	$	1.76

Weighted average common shares used to compute net income per share
Basic		37,646			36,831		37,306		36,646
Diluted		38,133			37,640		37,856		37,475


SPS COMMERCE, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited; in thousands)

	Twelve Months Ended December 31,
		2024			2023
Cash flows from operating activities
Net income	$	77,054		$	65,824
Reconciliation of net income to net cash provided by operating activities
Deferred income taxes		(9,786	)		(10,079	)
Depreciation and amortization of property and equipment		18,721			18,631
Amortization of intangible assets		23,510			16,116
Provision for credit losses		7,683			5,707
Stock-based compensation		54,557			45,508
Other, net		577			2,415
Changes in assets and liabilities, net of effects of acquisitions
Accounts receivable		(9,653	)		(11,949	)
Deferred costs		(3,120	)		(10,724	)
Other assets and liabilities		(7,313	)		1,834
Accounts payable		796			(3,947	)
Accrued compensation		1,434			7,143
Accrued expenses		4,115			1,302
Deferred revenue		728			6,464
Operating leases		(1,905	)		(1,947	)
Net cash provided by operating activities		157,398			132,298
Cash flows from investing activities
Purchases of property and equipment		(20,046	)		(19,761	)
Purchases of investments		(85,759	)		(133,994	)
Maturities of investments		143,275			131,331
Acquisition of businesses, net		(147,924	)		(70,218	)
Net cash used in investing activities		(110,454	)		(92,642	)
Cash flows from financing activities
Repurchases of common stock		(37,567	)		—
Net proceeds from exercise of options to purchase common stock		4,714			9,856
Net proceeds from employee stock purchase plan activity		9,827			8,114
Payments for contingent consideration		—			(2,000	)
Net cash provided by (used in) financing activities		(23,026	)		15,970
Effect of foreign currency exchange rate changes		(1,982	)		562
Net increase in cash and cash equivalents		21,936			56,188
Cash and cash equivalents at beginning of period		219,081			162,893
Cash and cash equivalents at end of period	$	241,017		$	219,081



SPS COMMERCE, INC. NON-GAAP RECONCILIATIONS (Unaudited; in thousands, except Margin, Adjusted EBITDA Margin, and per share amounts)

Adjusted EBITDA
	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
		2024			2023			2024			2023
Net income	$	17,559		$	19,011		$	77,054		$	65,824
Income tax expense		6,812			7,330			22,422			19,739
Depreciation and amortization of property and equipment		4,711			4,667			18,721			18,631
Amortization of intangible assets		7,862			4,998			23,510			16,116
Stock-based compensation expense		12,293			9,411			54,557			45,508
Realized (gain) loss from investments held and foreign currency impact on cash and investments		2,521			(1,201	)		(115	)		(1,726	)
Investment income		(2,205	)		(2,287	)		(10,582	)		(7,660	)
Other		86			28			1,064			1,198
Adjusted EBITDA	$	49,639		$	41,957		$	186,631		$	157,630

Adjusted EBITDA Margin
	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
	2024			2023			2024			2023
Revenue	$	170,907		$	144,965		$	637,765		$	536,910

Net income		17,559			19,011			77,054			65,824
Margin		10	%		13	%		12	%		12	%

Adjusted EBITDA		49,639			41,957			186,631			157,630
Adjusted EBITDA Margin		29	%		29	%		29	%		29	%

Non-GAAP Income per Share
	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
		2024			2023			2024			2023
Net income	$	17,559		$	19,011		$	77,054		$	65,824
Stock-based compensation expense		12,293			9,411			54,557			45,508
Amortization of intangible assets		7,862			4,998			23,510			16,116
Realized (gain) loss from investments held and foreign currency impact on cash and investments		2,521			(1,201	)		(115	)		(1,726	)
Other		86			28			1,064			1,198
Income tax effects of adjustments		(6,371	)		(3,906	)		(24,505	)		(19,983	)
Non-GAAP income	$	33,950		$	28,341		$	131,565		$	106,937

Shares used to compute net income and non-GAAP income per share
Basic		37,646			36,831			37,306			36,646
Diluted		38,133			37,640			37,856			37,475

Net income per share, basic	$	0.47		$	0.52		$	2.07		$	1.80
Non-GAAP adjustments to net income per share, basic		0.43			0.25			1.46			1.12
Non-GAAP income per share, basic	$	0.90		$	0.77		$	3.53		$	2.92

Net income per share, diluted	$	0.46		$	0.51		$	2.04		$	1.76
Non-GAAP adjustments to net income per share, diluted		0.43			0.24			1.44			1.09
Non-GAAP income per share, diluted	$	0.89		$	0.75		$	3.48		$	2.85

The annual per share amounts may not cross-sum due to rounding.

Contact:
Investor Relations
The Blueshirt Group
Irmina Blaszczyk & Lisa Laukkanen
SPSC@blueshirtgroup.com
415-217-4962

The MIL Network –

February 11, 2025

MIL-OSI: PennantPark Investment Corporation Announces Financial Results for the Quarter Ended December 31, 2024

Source: GlobeNewswire (MIL-OSI)

MIAMI, Feb. 10, 2025 (GLOBE NEWSWIRE) — PennantPark Investment Corporation (NYSE: PNNT) announced today its financial results for the first quarter ended December 31, 2024.

HIGHLIGHTS
Quarter ended December 31, 2024 (unaudited)
($ in millions, except per share amounts)

Assets and Liabilities:
Investment portfolio ⁽¹⁾	$	1,298.1
Net assets	$	494.3
GAAP net asset value per share	$	7.57
Quarterly increase in GAAP net asset value per share		0.1	%
Adjusted net asset value per share ⁽²⁾	$	7.57
Quarterly increase in adjusted net asset value per share ⁽²⁾		0.1	%

Credit Facility	$	460.0
2026 Notes	$	148.8
2026-2 Notes	$	163.3
Regulatory debt to equity	1.58x
Weighted average yield on debt investments		12.0	%

Operating Results:
Net investment income	$	13.0
Net investment income per share	$	0.20
Core net investment income per share ⁽³⁾	$	0.20
Distributions declared per share	$	0.24

Portfolio Activity:
Purchases of investments*	$	295.7
Sales and repayments of investments*	$	353.7

PSLF Portfolio data:
PSLF investment portfolio	$	1,275.1
Purchases of investments	$	353.8
Sales and repayments of investments	$	109.1

________________________
* excludes U.S. Government Securities

Includes investments in PennantPark Senior Loan Fund, LLC (“PSLF”), an unconsolidated joint venture, totaling $208.2 million, at fair value.
This is a non-GAAP financial measure. The Company believes that this number provides useful information to investors and management because it reflects the Company’s financial performance excluding the impact of unrealized gain on the Company’s multi-currency, senior secured revolving credit facility with Truist Bank, as amended, the “Credit Facility.” The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP.
Core net investment income (“Core NII”) is a non-GAAP financial measure. The Company believes that Core NII provides useful information to investors and management because it reflects the Company’s financial performance excluding one-time or non-recurring investment income and expenses. The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP. For the quarter ended December 31, 2024, there were no one-time events, resulting in $0.20 of Core NII..

CONFERENCE CALL AT 12:00 P.M. EST ON FEBRUARY 11, 2025

PennantPark Investment Corporation (“we,” “our,” “us” or the “Company”) will also host a conference call at 12:00 p.m. (Eastern Time) on Tuesday, February 11, 2025 to discuss its financial results. All interested parties are welcome to participate. You can access the conference call by dialing toll-free (888) 394-8218 approximately 5-10 minutes prior to the call. International callers should dial (646) 828-8193. All callers should reference conference ID #9452525 or PennantPark Investment Corporation. An archived replay will also be available on a webcast link located on the Quarterly Earnings page in the Investor section of PennantPark’s website.

PORTFOLIO AND INVESTMENT ACTIVITY

“We are pleased to announce another quarter of solid NAV and credit performance,” said Arthur Penn, Chairman and CEO. “Our earnings stream continues to be strong and is driven in part by the excellent returns generated by our PSLF Joint Venture. Additionally, our dividend stream is supported by substantial spillover income.”

As of December 31, 2024, our portfolio totaled $1,298.1 million and consisted of $575.0 million or 44% of first lien secured debt, $124.8 million or 10% of U.S. Government Securities, $50.0 million or 4% of second lien secured debt, $206.1 million or 16% of subordinated debt (including $132.2 million or 10% in PSLF) and $342.2 million or 26% of preferred and common equity (including $76.0 million or 6% in PSLF). Our interest bearing debt portfolio consisted of 92% variable-rate investments and 8% fixed-rate investments. As of December 31, 2024, we had two portfolio companies on non-accrual, representing 4.3% and 1.5% percent of our overall portfolio on a cost and fair value basis, respectively. Overall, the portfolio had net unrealized appreciation of $13.6 million as of December 31, 2024. Our overall portfolio consisted of 158 companies with an average investment size of $7.4 million (excluding U.S. Government Securities), had a weighted average yield on interest bearing debt investments of 12.0%.

As of September 30, 2024, our portfolio totaled $1,328.1 million and consisted of $667.9 million or 50% of first lien secured debt, $99.6 million or 8% of U.S. Government Securities, $67.2 million or 5% of second lien secured debt, $181.7 million or 14% of subordinated debt (including $115.9 million or 9% in PSLF) and $311.7 million or 23% of preferred and common equity (including $67.9 million or 5% in PSLF). Our interest bearing debt portfolio consisted of 94% variable-rate investments and 6% fixed-rate investments. As of September 30, 2024, we had two portfolio companies on non-accrual, representing 4.1% and 2.3% percent of our overall portfolio on a cost and fair value basis, respectively. Overall, the portfolio had net unrealized appreciation of $11.2 million as of September 30, 2024. Our overall portfolio consisted of 152 companies with an average investment size of $8.1 million (excluding U.S. Government Securities), had a weighted average yield on interest bearing debt investments of 12.3%.

For the three months ended December 31, 2024, we invested $295.7 million in 12 new and 61 existing portfolio companies with a weighted average yield on debt investments of 10.6% (excluding U.S. Government Securities). For the three months ended December 31, 2024, sales and repayments of investments totaled $353.7 million (excluding U.S. Government Securities).

For the three months ended December 31, 2023, we invested $231.1 million in 12 new and 32 existing portfolio companies with a weighted average yield on debt investments of 11.9%. For the three months ended December 31, 2023, sales and repayments of investments totaled $71.0 million (excluding U.S. Government Securities).

PennantPark Senior Loan Fund, LLC

As of December 31, 2024, PSLF’s portfolio totaled $1,275.1 million, consisted of 112 companies with an average investment size of $11.4 million and had a weighted average yield interest bearing debt investments of 10.7%.

As of September 30, 2024, PSLF’s portfolio totaled $1,031.2 million, consisted of 102 companies with an average investment size of $10.1 million and had a weighted average yield interest bearing debt investments of 11.3%.

For the three months ended December 31, 2024, PSLF invested $353.8 million (including $286.6 million was purchased from the Company) in 15 new and 43 existing portfolio companies at weighted average yield interest bearing debt investments of 10.5%. PSLF’s sales and repayments of investments for the same period totaled $109.1 million.

For the three months ended December 31, 2023, PSLF invested $81.0 million (including $50.8 million were purchased from the Company) in five new and seven existing portfolio companies at weighted average yield on interest bearing debt investments of 12.7%. PSLF’s sales and repayments of investments for the same period totaled $29.1 million.

RESULTS OF OPERATIONS

Set forth below are the results of operations during the three months ended December 31, 2024 and 2023.

Investment Income

For the three months ended December 31, 2024, investment income was $34.2 million, which was attributable to $25.2 million from first lien secured debt, $2.0 million from second lien secured debt, $1.1 million from subordinated debt and $5.9 million from other investments, respectively. For the three months ended December 31, 2023, investment income was $34.3 million, which was attributable to $25.1 million from first lien secured debt, $2.6 million from second lien secured debt, $1.3 million from subordinated debt and $5.3 million from preferred and common equity, respectively. The decrease in investment income for the three months ended December 31, 2024 was primarily due to the changes in our portfolio and investment yields.

Expenses

For the three months ended December 31, 2024, expenses totaled $21.2 million and were comprised of $11.7 million of debt related interest and expenses, $4.3 million of base management fees, $2.8 million of incentive fees, $1.7 million of general and administrative expenses and $0.7 million of provision for excise taxes. For the three months ended December 31, 2023, expenses totaled $18.7 million, and were comprised of; $9.6 million of debt-related interest and expenses, $4.0 million of base management fees, $3.3 million of incentive fees, $1.4 million of general and administrative expenses and $0.4 million of provision for excise taxes. The increase in expenses for the three months ended December 31, 2024 was primarily due an increase in debt related interest and expenses.

Net Investment Income

For the three months ended December 31, 2024 and 2023, net investment income totaled $13.0 million, or $0.20 per share and $15.7 million, or $0.24 per share. The decrease in net investment income for the three months ended December 31, 2024 was primarily due to increase in interest expense.

Net Realized Gains or Losses

For the three months ended December 31, 2024 and 2023, net realized gains (losses) totaled $(2.6) million and $1.8 million, respectively. The change in realized gains (losses) was primarily due to changes in the market conditions of our investments and the values at which they were realized.

Unrealized Appreciation or Depreciation on Investments and Debt

For the three months ended December 31, 2024 and 2023, we reported net change in unrealized appreciation (depreciation) on investments of $2.4 million and $(5.0) million, respectively. As of December 31, 2024 and September 30, 2024, our net unrealized appreciation (depreciation) on investments totaled $13.6 million and $11.2 million, respectively. The net change in unrealized depreciation on our investments was primarily due to changes in the capital market conditions of our investments and the values at which they were realized.

For the three months ended December 31, 2024 and 2023, the Truist Credit Facility had a net change in unrealized appreciation (depreciation) of $3.3 million and $(2.0) million, respectively. As of December 31, 2024 and September 30, 2024, the net unrealized appreciation (depreciation) on the Truist Credit Facility totaled $4.4 million and $1.1 million, respectively. The net change in unrealized depreciation was primarily due to changes in the capital markets.

Net Change in Net Assets Resulting from Operations

For the three months ended December 31, 2024 and 2023, net increase (decrease) in net assets resulting from operations totaled $16.1 million or $0.25 per share and $10.7 million or $0.16 per share, respectively. The increase in net assets from operations for the three months ended December 31, 2024 was primarily due to a decrease in the net realized and unrealized depreciation in the portfolio primarily driven by changes in market conditions.

LIQUIDITY AND CAPITAL RESOURCES

Our liquidity and capital resources are derived primarily from cash flows from operations, including investment sales and repayments, income earned, proceeds of securities offerings and debt financings. Our primary use of funds from operations includes investments in portfolio companies and payments of interest expense, fees and other operating expenses we incur. We have used, and expect to continue to use, our debt capital, proceeds from the rotation of our portfolio and proceeds from public and private offerings of securities to finance our investment objectives and operations.

As of December 31, 2024 and September 30, 2024, we had $464.5 million and $461.5 million, respectively, in outstanding borrowings under the Truist Credit Facility. The Truist Credit Facility had a weighted average interest rate of 6.8% and 7.2%, respectively, exclusive of the fee on undrawn commitments. As of December 31, 2024 and September 30, 2024, we had $10.5 million and $13.5 million of unused borrowing capacity under the Truist Credit Facility, respectively, subject to leverage and borrowing base restrictions.

As of December 31, 2024 and September 30, 2024, we had cash and cash equivalents of $55.9 million and $49.9 million, respectively, available for investing and general corporate purposes. We believe our liquidity and capital resources are sufficient to allows us to effectively operate our business.

For the three months ended December 31, 2024, our operating activities provided cash of $18.7 million and our financing activities used cash of $12.7 million. Our operating activities provided cash primarily due to our investment activities and our financing activities used cash primarily for distributions paid to stockholders.

For the three months ended December 31, 2023, our operating activities used cash of $155.1 million and our financing activities provided cash of $153.2 million. Our operating activities used cash primarily due to our investment activities and our financing activities provided cash primarily from borrowings under the Truist Credit Facility.

DISTRIBUTIONS

During the three months ended December 31, 2024, we declared distributions of $0.24 per share, for total distributions of $15.7 million. During the three months ended December 31, 2023, we declared distributions of $0.21 per share, for total distributions of $13.7 million. We monitor available net investment income to determine if a return of capital for tax purposes may occur for the fiscal year. To the extent our taxable earnings fall below the total amount of our distributions for any given fiscal year, stockholders will be notified of the portion of those distributions deemed to be a tax return of capital. Tax characteristics of all distributions will be reported to stockholders subject to information reporting on Form 1099-DIV after the end of each calendar year and in our periodic reports filed with the SEC.

RECENT DEVELOPMENTS

The multi-currency Truist Credit Facility was upsized to $500.0 million (increased from $475 million in February 2025).

AVAILABLE INFORMATION

The Company makes available on its website its Quarterly Report on Form 10-Q filed with the SEC and stockholders may find the report on our website at www.pennantpark.com.


PENNANTPARK INVESTMENT CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (In thousands, except share data)

	December 31, 2024			September 30, 2024
	(unaudited)
Assets
Investments at fair value
Non-controlled, non-affiliated investments (amortized cost—$856,406 and $916,168, respectively)	$	845,829		$	910,323
Non-controlled, affiliated investments (amortized cost—$57,109 and $56,734, respectively)		11,032			33,423
Controlled, affiliated investments (amortized cost—$370,967 and $343,970, respectively)		441,205			384,304
Total investments (amortized cost—$1,284,482 and $1,316,872, respectively)		1,298,066			1,328,050
Cash and cash equivalents (cost—$55,868 and $49,833, respectively)		55,851			49,861
Interest receivable		5,227			5,261
Receivable for investments sold		47,230			—
Distribution receivable		5,359			5,417
Due from affiliates		144			228
Prepaid expenses and other assets		214			269
Total assets		1,412,091			1,389,086
Liabilities
Truist Credit Facility payable, at fair value (cost—$464,456 and $461,456, respectively)		460,033			460,361
2026 Notes payable, net (par— $150,000)		148,796			148,571
2026 Notes-2 payable, net (par— $165,000)		163,293			163,080
Payable for investment purchased		125,050			100,096
Distributions payable		5,224			5,224
Base management fee payable		4,268			4,297
Incentive fee payable		2,756			3,057
Accounts payable and accrued expenses		5,500			4,053
Interest payable on debt		2,850			6,406
Due to affiliates		—			33
Total liabilities		917,770			895,178
Net assets
Common stock, 65,296,094 and 65,296,094 shares issued and outstanding, respectively Par value $0.001 per share and 200,000,000 shares authorized		65			65
Paid-in capital in excess of par value		743,968			743,968
Accumulated deficit		(249,712	)		(250,125	)
Total net assets	$	494,321		$	493,908
Total liabilities and net assets	$	1,412,091		$	1,389,086
Net asset value per share	$	7.57		$	7.56


PENNANTPARK INVESTMENT CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share data) (Unaudited)

	Three Months Ended December 31,
	2024			2023
Investment income:
From non-controlled, non-affiliated investments:
Interest	$	18,767		$	21,068
Payment-in-kind		1,421			2
Dividend income		508			692
Other income		582			1,425
From non-controlled, affiliated investments:
Payment-in-kind		—			347
From controlled, affiliated investments:
Interest		7,255			5,481
Payment-in-kind		823			632
Dividend income		4,851			4,689
Total investment income		34,207			34,336
Expenses:
Interest and expenses on debt		11,741			9,557
Base management fee		4,268			4,004
Incentive fee		2,756			3,321
General and administrative expenses		1,250			1,214
Administrative services expenses		500			189
Expenses before provision for taxes		20,515			18,285
Provision for taxes on net investment income		700			393
Net expenses		21,215			18,678
Net investment income		12,992			15,658
Realized and unrealized gain (loss) on investments and debt:
Net realized gain (loss) on investments and debt:
Non-controlled, non-affiliated investments		(2,560	)		2,581
Non-controlled and controlled, affiliated investments		—			(750	)
Net realized gain (loss) on investments and debt		(2,560	)		1,831
Net change in unrealized appreciation (depreciation) on:
Non-controlled, non-affiliated investments		(4,777	)		(12,270	)
Non-controlled and controlled, affiliated investments		7,138			7,324
Provision for taxes on unrealized appreciation (depreciation) on investments		(37	)		150
Debt appreciation (depreciation)		3,328			(2,040	)
Net change in unrealized appreciation (depreciation) on investments and debt		5,652			(6,836	)
Net realized and unrealized gain (loss) from investments and debt		3,092			(5,005	)
Net increase (decrease) in net assets resulting from operations	$	16,084		$	10,653
Net increase (decrease) in net assets resulting from operations per common share	$	0.25		$	0.16
Net investment income per common share	$	0.20		$	0.24

ABOUT PENNANTPARK INVESTMENT CORPORATION

PennantPark Investment Corporation, or the Company, is a business development company that invests primarily in U.S. middle-market companies in the form of first lien secured debt, second lien secured debt, subordinated debt and equity investments. PennantPark Investment Corporation is managed by PennantPark Investment Advisers, LLC.

ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC

PennantPark Investment Advisers, LLC is a leading middle market credit platform, managing $9.4 billion of investable capital, including available leverage. Since its inception in 2007, PennantPark Investment Advisers, LLC has provided investors access to middle market credit by offering private equity firms and their portfolio companies as well as other middle-market borrowers a comprehensive range of creative and flexible financing solutions. PennantPark Investment Advisers, LLC is headquartered in Miami and has offices in New York, Chicago, Houston, Los Angeles, and Amsterdam.

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You should understand that under Section 27A(b)(2)(B) of the Securities Act of 1933, as amended, and Section 21E(b)(2)(B) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 do not apply to forward-looking statements made in periodic reports PennantPark Investment Corporation files under the Exchange Act. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the SEC. PennantPark Investment Corporation undertakes no duty to update any forward-looking statement made herein. You should not place undue influence on such forward-looking statements as such statements speak only as of the date on which they are made.

Contact:	Richard T. Allorto, Jr.
	PennantPark Investment Corporation
	(212) 905-1000
	www.pennantpark.com

The MIL Network –

February 11, 2025

MIL-OSI Canada: Prime Minister Justin Trudeau speaks with artificial intelligence business leaders

Source: Government of Canada – Prime Minister

Today, Prime Minister Justin Trudeau had meetings with artificial intelligence (AI) business leaders, including the Chief Executive Officer (CEO) of Anthropic, Dario Amodei, the CEO of Advanced Micro Devices, Lisa Su, the founder and Chairman of OVHCloud, Octave Klaba, the co-founder and CEO of Hugging Face, Clément Delangue, and the CEO of Arm, Rene Haas.

During these meetings, Prime Minister Trudeau positioned Canada as an ideal partner for AI innovation. He highlighted Canada’s world-class research institutions, vibrant AI ecosystem, top talent, diverse startups, and strong government support through initiatives like the Pan-Canadian Artificial Intelligence Strategy. He also emphasized Canada’s commitment to developing AI through an ethical and responsible approach.

The Prime Minister noted how Canada is well placed to lead and power AI innovation, thanks to its abundant supply of critical minerals, clean and reliable energy, and growing semiconductor industry. He also emphasized that, as G7 President, Canada would continue to demonstrate leadership in advancing security, prosperity, and partnerships, including through AI adoption, energy, and inclusion.

These meetings were an opportunity for the Prime Minister to hear directly from the world’s leading companies in the AI ecosystem. They also helped deepen commercial relations between Canada and our partners across the United States and the European Union.

Associated Links

MIL OSI Canada News –

February 11, 2025
MIL-OSI USA: Cassidy, Hassan Reintroduce Bill to Connect Individuals to The Workforce

US Senate News:

Source: United States Senator for Louisiana Bill Cassidy

WASHINGTON – U.S. Senators Bill Cassidy, M.D. (R-LA) and Maggie Hassan (D-NH) reintroduced the Improve and Enhance the Work Opportunity Tax Credit Act to build the U.S. workforce and help connect individuals to good jobs. The bill will strengthen the Work Opportunity Tax Credit (WOTC), which has a proven track record of helping disadvantaged individuals secure employment. Companion legislation was introduced in the U.S. House of Representatives by U.S. Representative Lloyd Smucker (R-PA-11).
“It’s not always easy to rejoin the workforce,” said Dr. Cassidy. “By helping employers connect with prospective employees struggling to find work, we boost the American economy and reduce the reliance on government assistance. It’s a win-win.”
“Ensuring that every American has access to a good-paying job is critical to the success of our country and our local communities,” said Senator Hassan. “This commonsense, bipartisan legislation will help connect more Granite Staters to good-paying jobs, while also lowering costs for businesses that invest in hiring veterans, people with disabilities, and others who may face barriers to employment.”
“The best anti-poverty program is a good job. The Work Opportunity Tax Credit (WOTC) is a program that supports employers and employees as they reenter the workforce. I am committed to helping disadvantaged Americans get back to work by advancing legislation to improve this proven tool. WOTC is a bipartisan solution that every Member of Congress should support,” said Representative Smucker.
The WOTC provides a federal tax credit to employers who invest in American workers who have consistently faced barriers to employment, including eligible veterans, SNAP recipients, individuals with disabilities, and long-term unemployed individuals. Employers incur higher recruitment and training costs to reach WOTC eligible populations and support their successful transition back into employment. WOTC has not been updated since its enactment twenty-seven years ago, and its value has been eroded significantly due to inflation. The National Employment Opportunity Network reports that the WOTC has saved federal governments an estimated $202 billion over ten years.
The Improve and Enhance the Work Opportunity Tax Credit Act would:

Update the WOTC, which has not been changed since its enactment twenty-seven years ago and encourage longer-service employment.
Increase the current credit percentage from 40% to 50% of qualified wages.
Add a second level of credit for employees who work 400 or more hours.
Eliminate the arbitrary age cap at which SNAP recipients are eligible for WOTC. This change will provide an incentive to hire older workers and better align the credit with previously adopted work reforms.

The bill is supported by the Louisiana Retailers Association, Albertsons, American Health Care Association, American Hotel & Lodging Association, American Seniors Housing Association, American Staffing Association, American Trucking Associations, Argentum, Asian American Hotel Owners Association, Associated Builders and Contractors, Associated General Contractors of America, Associated Wholesale Grocers, Inc., Brookshire’s, Brookshire Grocery Company, Coalition of Franchisee Associations, Critical Labor Coalition, Due Process Institute, Dunkin Donuts Independent Franchisee Organization, FMI – The Food Industry Association, Franchise Business Services, Fresh By Brookshire’s, Giant Eagle and GetGo Café + Market, H-E-B. Honest Jobs, ICSC, International Franchise Association, The Worldwide Cleaning Industry Association, The Kroger Co., NAACP, NAPEO, National Association of Convenience Stores, National Association for Home Care and Hospice, National Association of Wholesaler-Distributors, National Beer Wholesalers Association, National Employment Opportunity Network (NEON), National Franchisee Association, National Grocers Association, National Restaurant Association, National Urban League, NATSO, Pete & Gerry’s Organics, LLC, Reasor’s, Retail Industry Leaders Association, Retail Grocers Association MO&KS, Retail Merchants Association, SIGMA: America’s Leading Fuel Marketers, Small Business & Entrepreneurship Council, Society for Human Resource Management, Spring Market, Super 1 Foods, UPS, and Wakefern Food Corp.
“The restaurant industry has hundreds of thousands of jobs that it needs to fill every month, many of which can be filled by individuals who have traditionally faced barriers to employment. Getting these people back to work is valuable to the individual, the restaurant operator and the community. We appreciate Sens. Cassidy and Hassan’s efforts to improve on WOTC as a tool for restaurant operators to hire needed staff and increase their business viability,” said Sean Kennedy, Executive Vice President of Public Affairs, National Restaurant Association.
“The Louisiana Restaurant Association applauds Sen. Cassidy for his leadership in introducing the Improve and Enhance the Work Opportunity Tax Credit (WOTC) Act. Restaurants in Louisiana are not just places to enjoy great food; they are training grounds for skill development and second chances for many individuals facing employment barriers. The WOTC program is essential for fostering opportunities, strengthening our workforce, and contributing to the economic vitality of our communities,” said Stan Harris, President and CEO, Louisiana Restaurant Association.
“America’s workforce is facing a perfect storm. The labor shortage, exacerbated by demographic shifts, aging population, declining participation, mismatch of skills and the lingering effects of the pandemic, has left employers struggling to fill jobs in critical industries. The Critical Labor Coalition strongly supports the Improve and Enhance the Work Opportunity Tax Credit Act, which will modernize WOTC to reflect today’s labor market realities and ensure that businesses—especially those hit hardest by workforce shortages—are incentivized to hire individuals from historically underemployed groups who may otherwise face barriers to entering the workforce,” said Misty Chally, Executive Director, Critical Labor Coalition.
“FMI – The Food Industry Association applauds Senators Bill Cassidy (R-LA) and Maggie Hassan (D-NH) for introducing this legislation to improve the Work Opportunity Tax Credit (WOTC). WOTC is an important workforce-building tool, utilized by our grocery, wholesaler, and product supplier members, to hire individuals facing barriers to employment. FMI is excited to work with Senators Cassidy and Hassan and House companion bill sponsors Representatives Lloyd Smucker (R-PA) and Terri Sewell (D-AL) on strengthening the path for veterans, SNAP participants, justice-involved individuals, and others to obtain meaningful employment in the food industry through enactment of this measure,” said Christine Pollack, FMI Vice President, Government Relations.
“The Work Opportunity Tax Credit has been a vital resource for franchise business owners that provide job opportunities to workers who have faced barriers to employment. IFA applauds Sens. Cassidy and Hassan for taking this important step to help franchised businesses hire workers from underserved communities and provide additional relief, especially since finding labor remains the most significant challenge for local franchises,” said Mike Layman, Chief Advocacy Officer, International Franchise Association.

MIL OSI USA News –

February 11, 2025
MIL-OSI USA: Relief Remains Available to Mississippi Businesses Impacted by April Storms:

Source: United States Small Business Administration

ATLANTA – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Mississippi of the March 10 deadline to apply for low interest federal disaster loans to offset economic losses caused by severe storms, straight-line winds, tornadoes, and flooding that occurred April 8-11, 2024.

The disaster declaration covers the counties of Attala, Claiborne, Copiah, Hancock, Harrison, Hinds, Holmes, Humphreys, Jasper, Kemper, Lauderdale, Leake, Leflore, Madison, Neshoba, Newton, Pearl River, Rankin, Scott, Sharkey, Simpson, Smith, Stone, Sunflower, Warren, Washington, and Winston in Mississippi, as well as St. Tammany Parish in Louisiana.

Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that would have been paid had the disaster not occurred.

The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

For more information and to apply online visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

The deadline to return economic injury applications is March 10, 2025.

###

About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

MIL OSI USA News –

February 11, 2025
MIL-OSI USA: One Month Left to Apply for Federal Disaster Assistance

Source: US Federal Emergency Management Agency

Headline: One Month Left to Apply for Federal Disaster Assistance

One Month Left to Apply for Federal Disaster Assistance

LOS ANGELES – Homeowners and renters who have incurred damage or losses from the Los Angeles County wildfires that began Jan. 7 have until Monday,March 10, 2025, to apply for FEMA Individual Assistance. The program provides financial and other assistance to eligible individuals and households to help meet their basic needs and supplement their wildfire recovery efforts. FEMA may reimburse eligible applicants for temporary housing, home repairs to their primary home, personal property losses, medical and dental expenses related to the disaster, childcare and other serious disaster-related needs not covered by insurance.Residents who have insurance need to file insurance claims for damage to their homes, personal property and vehicles before applying. FEMA assistance is not taxed and will not affect Social Security, Medicaid or other federal benefits. FEMA grants do not have to be repaid. Apply for FEMA Individual Assistance:Online at DisasterAssistance.gov (fastest option).On the FEMA App (available at the Apple App Store or Google Play).By phone on the FEMA Helpline at 800-621-3362. If you use a relay service, give FEMA your number for that service. Helpline operators speak many languages: press 2 for Spanish or press 3 for an interpreter who speaks your language. Lines are open from 7 a.m. to 10 p.m. 7 days a week. Visit a Disaster Recovery Center (DRC). To locate a DRC near you, visit the DRC Locator.For an American Sign Language video on how to apply, visit FEMA Accessible: Three Ways to Register for FEMA Disaster Assistance. After You ApplyIf you had damage and applied for FEMA assistance, you can expect a call, text or email from FEMA to schedule a home inspection to assess disaster damage. Please note phone calls from FEMA may come from an unfamiliar number. Inspectors will try to reach you multiple times but eventually will stop calling if you do not respond. You will learn FEMA’s decision on what benefits you may receive in a Determination Letter sent by email or U.S. Mail.FEMA may refer you to the U.S. Small Business Administration for a SBA low-interest disaster loan to help offset damage and losses caused by the wildfires. Disaster loans are available to renters, homeowners and businesses and are the largest source of federal disaster funding for people impacted by disasters. The deadline to apply with the SBA is also March 10, 2025. Do not wait for your FEMA Determination Letter to apply for a SBA loan. To apply visit sba.gov/disaster; call SBA’s Customer Service Center at 800-659-2955 or email DisasterCustomerService@sba.gov for more information or to have a loan application mailed to you. For people who are deaf, hard of hearing or have a speech disability, dial 711 to access telecommunications relay services. You may also apply with the help of a SBA representative or submit your loan application at a Business Recovery Center. To find one, go to Appointment.sba.gov. Completed paper loan applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
barbara.murien…
Mon, 02/10/2025 – 17:44

MIL OSI USA News –

February 11, 2025
MIL-OSI USA: Mercer County, W.Va., Disaster Recovery Center extending operations additional week

Source: US Federal Emergency Management Agency 2

strong>CHARLESTON, W.Va. – While the deadline to apply for disaster assistance ended Friday, Feb. 7, 2025, the Mercer County FEMA Disaster Recovery Center in Princeton, W.Va., is extending its operations an additional week. The recovery center will remain open through Friday, Feb. 14, 2025, to allow applicants more time to speak face-to-face with staff about their applications.
The Mercer County recovery center location and hours are as follows:

Princeton Disaster Recovery Center

Lifeline Princeton Church of God
250 Oakvale Road
Princeton, WV 24740

Hours of operation:
Monday to Thursday: 9 a.m. to 5 p.m.
Friday: 9 a.m. to 12 noon

DRCs are accessible to all, including survivors with mobility issues, impaired vision, and those who are who are Deaf or Hard of Hearing.
Another way for applicants to discuss their FEMA assistance is by phone at 800-621-3362. The toll-free telephone line operates from 7 a.m. to 11 p.m., seven days a week. If you use a relay service, such as video relay service (VRS), captioned telephone service or others, give FEMA your number for that service.
Staff from the U.S. Small Business Administration (SBA) will also be available at the recovery center for homeowners, renters and business owners to answer questions about their physical disaster loans, and for business owners to inquire about their Economic Injury Disaster Loans (EIDLs).
Applicants can also call SBA’s Customer Service Center at (800) 659-2955, or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay service.
For more information on West Virginia’s disaster recovery, visit emd.wv.gov, West Virginia Emergency Management Division Facebook page, www.fema.gov/disaster/4851 and www.facebook.com/FEMA.
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FEMA’s mission is helping people before, during and after disasters. FEMA Region 3’s jurisdiction includes Delaware, the District of Columbia, Maryland, Pennsylvania, Virginia and West Virginia.
Follow us on X at x.com/FEMAregion3 and on LinkedIn at linkedin.com/company/femaregion3.
Disaster recovery assistance is available without regard to race, color, religion, nationality, sex, age, disability, English proficiency or economic status. If you or someone you know has been discriminated against, call FEMA toll-free at 833-285-7448. If you use a relay service, such as video relay service (VRS), captioned telephone service or others, give FEMA your number for that service. Multilingual operators are available (press 2 for Spanish and 3 for other languages).

MIL OSI USA News –

February 11, 2025
MIL-OSI USA: FEMA to Host Housing Resource Fair Feb. 15 in Augusta

Source: US Federal Emergency Management Agency 2

EMA is hosting a Housing Resource Fair from 9 a.m. to 5 p.m., Saturday, Feb. 15, in Augusta at the following location:
Henry Brigham Community Center
2463 Golden Camp Rd. C,
Augusta, GA 30906
The Housing Resource Fair will bring together federal, state and local agencies in one place to offer services and resources to families recovering from Hurricane Helene.
The goal of this collaborative effort is to help connect eligible disaster survivors with affordable housing along with valuable information and resources on their road to recovery.
Survivors will meet with local housing organizations, property owners and landlords, as well as gain information on the HEARTS Georgia Sheltering Program, and U.S. Small Business Administration (SBA) loans.
The Housing Resource Fair is an opportunity for survivors to:

Explore affordable housing options and rental assistance programs.
Meet with representatives from local housing organizations, landlords and property managers.
Gain access to resources for displaced individuals and families.
Learn about community partners that will provide educational funding resources to attendees.

For FEMA Federal Coordinating Officer Kevin Wallace, the Housing Resource Fair will give survivors that needed one-on-one experience: “We want survivors to know we are here for them and want to see the best outcome, which is moving into safe, sanitary and functioning housing,” he said. “We will walk them through their options to ensure they are aware of the resources that are available to fit their need.”
Anyone who was affected by Tropical Storm Debby or Hurricane Helene, whether they have applied for FEMA assistance or not, is welcome to attend.

MIL OSI USA News –

February 11, 2025
MIL-OSI Security: Two convicted in Eastern District of Texas COVID fraud scheme

Source: Office of United States Attorneys

SHERMAN, Texas – A Collin County man and a Floridian have been convicted of federal violations related to a COVID fraud scheme in the Eastern District of Texas, announced Acting U.S. Attorney Abe McGlothin, Jr.

Cord Dean Newman, 47, of Homosassa, Florida, and Eric “Phoenix” Marascio, 53, of Allen, were found guilty of conspiracy to commit wire fraud and conspiracy to commit money laundering following a four-day trial before U.S. District Judge Jeremy D. Kernodle on February 6, 2025.

According to information presented in court, Newman, a Hollywood stuntman, and Marascio, an author and baker, were convicted for their involvement in a multimillion-dollar loan fraud and money laundering conspiracy. The evidence at trial showed they were involved in a scheme to defraud lenders and the Small Business Administration’s (SBA’s) Paycheck Protection Program (PPP) by applying for and obtaining fraudulent PPP loans during the COVID-19 pandemic. Once Newman and Marascio obtained the loans, they used the funds in a manner inconsistent with the program, including to invest in foreign exchange currency markets, to purchase vehicles, and for various other non-business-related expenditures.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was a federal law enacted in March 2020 and designed to provide emergency financial assistance to the millions of Americans who were suffering the economic effects caused by the COVID-19 pandemic. One source of relief provided by the CARES Act was the authorization of forgivable loans to small businesses for job retention and certain other expenses, through a program referred to as the Paycheck Protection Program (PPP). The Economic Injury Disaster Loan (EIDL) Program was an SBA program that provided low-interest financing to small businesses, renters, and homeowners in regions affected by declared disasters.

The defendants each face up to 20 years in federal prison at sentencing. The maximum statutory sentence prescribed by Congress is provided here for information purposes, as the sentencing will be determined by the court based on the advisory sentencing guidelines and other statutory factors. A sentencing hearing will be scheduled after the completion of a presentence investigation by the U.S. Probation Office.

This case is being investigated by the Federal Bureau of Investigation and the Internal Revenue Service – Criminal Investigations. This case is being prosecuted by Assistant U.S. Attorneys in the Eastern District of Texas.

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MIL Security OSI –

February 11, 2025

MIL-OSI: F&M Bank Welcomes Peter Schork as Market President for Toledo, OH & Birmingham, MI

Source: GlobeNewswire (MIL-OSI)

ARCHBOLD, Ohio, Feb. 10, 2025 (GLOBE NEWSWIRE) — F&M Bank (“F&M”), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) announced that Peter Schork has joined F&M as Market President of the Toledo, Ohio and Birmingham, Michigan markets.

Lars Eller, President and CEO of F&M stated, “As a proven community banker, Peter brings a wealth of experience to F&M. His leadership, deep market knowledge, and commitment to building strong relationships will be an invaluable resource to F&M as we continue to grow and serve our communities. We look forward to the impact he will make in driving success for our customers, employees, and stakeholders.”

In his new role, Peter will oversee F&M’s presence in the Toledo, Ohio, and Birmingham, Michigan markets, including offices in Waterville, Swanton, Perrysburg, Sylvania, and Downtown Toledo, as well as F&M’s Loan Production Office in Troy and its Birmingham, Michigan location.

Peter brings over 25 years of banking and financial experience to F&M. Prior to joining the Company, he served as the Ann Arbor President for Oxford Bank and co-founded the Ann Arbor State Bank serving as its President and CEO. In addition to his community bank experience, Peter was the CFO at Catalyst Commercial Real Estate, and the President of a Michigan based title, mortgage, and real estate company. In addition to his business experience, Peter is a proud supporter of various community organizations. Currently he serves on the Michigan Theater Board of Trustees, is a member of the Ray and Eleanor Cross Foundation and the Kiwanis Club of Ann Arbor and is a Board Member and Treasurer for the Homeless/Unhoused Mission. Peter holds a Master of Business Administration (M.B.A.) with a specialization in Finance from Eastern Michigan University.

About F&M Bank:
F&M Bank is a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other financial services. Our locations are in Butler, Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Shelby, Williams, and Wood counties in Ohio. In Northeast Indiana, we have offices located in Adams, Allen, DeKalb, Jay, Steuben and Wells counties. The Michigan footprint includes Oakland County, and we have Loan Production Offices in Troy, Michigan; Muncie, Indiana; and Perrysburg and Bryan, Ohio.

Safe harbor statement
Private Securities Litigation Reform Act of 1995. Statements by F&M, including management’s expectations and comments, may not be based on historical facts and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Actual results could vary materially depending on risks and uncertainties inherent in general and local banking conditions, competitive factors specific to markets in which F&M and its subsidiaries operate, future interest rate levels, legislative and regulatory decisions, capital market conditions, or the effects of the COVID-19 pandemic, and its impacts on our credit quality and business operations, as well as its impact on general economic and financial market conditions. F&M assumes no responsibility to update this information. For more details, please refer to F&M’s SEC filing, including its most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Such filings can be viewed at the SEC’s website, www.sec.gov or through F&M’s website www.fm.bank.

Company Contact: Lars B. Eller President and Chief Executive Officer Farmers & Merchants Bancorp, Inc. (419) 446-2501 leller@fm.bank	Investor and Media Contact: Andrew M. Berger Managing Director SM Berger & Company, Inc. (216) 464-6400 andrew@smberger.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e11179be-cf20-449e-9416-ca1e8ff1fd2f

The MIL Network –

February 11, 2025

MIL-OSI: Nokia Corporation: Repurchase of own shares on 10.02.2025
Source: GlobeNewswire (MIL-OSI)

Nokia Corporation
Stock Exchange Release
10 February 2025 at 22:30 EET

Nokia Corporation: Repurchase of own shares on 10.02.2025

Espoo, Finland – On 10 February 2025 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows:

Trading venue (MIC Code) Number of shares Weighted average price / share, EUR*

XHEL 1,400,000 4.72

CEUX – –

BATE – –

AQEU – –

TQEX – –

Total 1,400,000 4.72

* Rounded to two decimals

On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.

Total cost of transactions executed on 10 February 2025 was EUR 6,611,080. After the disclosed transactions, Nokia Corporation holds 243,703,874 treasury shares.

Details of transactions are included as an appendix to this announcement.

On behalf of Nokia Corporation

BofA Securities Europe SA

About Nokia
At Nokia, we create technology that helps the world act together.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs which is celebrating 100 years of innovation.

With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

Inquiries:

Nokia Communications
Phone: +358 10 448 4900
Email: press.services@nokia.com
Maria Vaismaa, Global Head of External Communications

Nokia Investor Relations
Phone: +358 931 580 507
Email: investor.relations@nokia.com

Attachment
- Daily Report 2025-02-10
The MIL Network –
February 11, 2025
MIL-OSI USA: Governor Newsom sponsors legislation to provide interest for disaster-affected homeowners
Source: US State of California 2
Feb 10, 2025
What you need to know: Governor Newsom is sponsoring new legislation to allow homeowners who receive insurance payments for lost or damaged property to receive the interest accrued rather than lenders.

LOS ANGELES — As part of the state’s ongoing efforts to support survivors of the LA-area firestorm, Governor Newsom today announced sponsoring new legislation to ensure homeowners, not lenders, benefit from the interest earned on insurance payouts, particularly those impacted by California’s most destructive wildfires.

The legislation, authored by Assemblymember John Haradebian (D – Pasadena), seeks to correct an inequity in current law that allows lenders to collect interest on insurance funds held in escrow after a disaster.

“Homeowners rebuilding after a disaster need all the support they can get, including the interest earned on their insurance funds. This is a commonsense solution that ensures that they receive every resource available to help them recover and rebuild.”

Governor Gavin Newsom

The legislation, authored by Assemblymember John Haradebian (D-Pasadena), seeks to correct an inequity in current law that allows lenders to collect interest on insurance funds held in escrow after a disaster.

“Homeowners, not insurance companies, should receive the interest earned on their insurance payouts. Many Angelenos devastated by these wildfires have lost nearly everything; they are struggling and need every bit of financial support. This bill puts people over profits, ensuring that rightful insurance payments go to those who need them most,” said Assemblymember John Harabedian (D-Pasadena).

After a disaster, insurance payouts are held in escrow until rebuilding is complete, which can take months or even years. During this time, these funds can accrue significant interest.

While California law requires lenders to pay homeowners interest on escrowed funds for property taxes and insurance, it does not extend this requirement to insurance payouts held in escrow. This legislation would amend state law to explicitly require lenders to pay homeowners the interest earned on post-loss insurance payouts, just as they do for other escrowed property expenses

Why this matters

✅ Fairness: Homeowners should receive the interest their insurance funds generate—not lenders.

✅ Disaster recovery: Provides much-needed financial support for wildfire victims rebuilding their homes and communities.
✅ No new burdens on lenders: Simply aligns insurance payout escrow rules with existing California escrow interest law.
✅ Protecting homeowners’ rights: Ensures insurance funds are treated the same as other escrowed property expenses.

This legislation ensures that homeowners benefit from the interest earned on insurance funds, particularly those impacted by California’s most destructive wildfires.

Speeding recovery, helping survivors

Today’s announcement adds to the Governor’s work to cut red tape, remove onerous permitting requirements, and help speed rebuilding and recovery from the Los Angeles firestorms. On January 12, Governor Newsom issued an executive order to streamline the rebuilding of homes and businesses destroyed — suspending the California Environmental Quality Act (CEQA) and the California Coastal Act permitting requirements and review.

Cutting red tape to help rebuild Los Angeles faster and stronger. Governor Newsom issued an executive order to streamline the rebuilding of homes and businesses destroyed — suspending permitting and review requirements under the California Environmental Quality Act (CEQA) and the California Coastal Act. The Governor also issued an executive order further cutting red tape by reiterating that permitting requirements under the California Coastal Act are suspended for rebuilding efforts and directing the Coastal Commission not to issue guidance or take any action that interferes with or conflicts with the Governor’s executive orders. The Governor also issued an executive order removing bureaucratic barriers, extending deadlines, and providing critical regulatory relief to help fire survivors rebuild, access essential services, and recover more quickly.

Providing tax and mortgage relief to those impacted by the fires. California postponed the individual tax filing deadline to October 15 for Los Angeles County taxpayers. Additionally, the state extended the January 31, 2025, sales and use tax filing deadline for Los Angeles County taxpayers until April 30 — providing critical tax relief for businesses. Governor Newsom suspended penalties and interest on late property tax payments for a year, effectively extending the state property tax deadline. The Governor also worked with state– and federally-chartered banks that have committed to providing mortgage relief for survivors in certain zip codes.

Fast-tracking temporary housing and protecting tenants. To help provide necessary shelter for those immediately impacted by the firestorms, the Governor issued an executive order to make it easier to streamline construction of accessory dwelling units, allow for more temporary trailers and other housing, and suspend fees for mobile home parks. Governor Newsom also issued an executive order that prohibits landlords in Los Angeles County from evicting tenants for sharing their rental with survivors displaced by the Los Angeles-area firestorms.

Mobilizing debris removal and cleanup. With an eye toward recovery, the Governor directed fast action on debris removal work and mitigating the potential for mudslides and flooding in areas burned. He also signed an executive order to allow expert federal hazmat crews to start cleaning up properties as a key step in getting people back to their properties safely. The Governor also issued an executive order to help mitigate risk of mudslides and flooding and protect communities by hastening efforts to remove debris, bolster flood defenses, and stabilize hillsides in affected areas.

Safeguarding survivors from price gouging. Governor Newsom expanded restrictions to protect survivors from illegal price hikes on rent, hotel and motel costs, and building materials or construction. Report violations to the Office of the Attorney General here.

Directing immediate state relief. The Governor signed legislation providing over $2.5 billion to immediately support ongoing emergency response efforts and to jumpstart recovery efforts for Los Angeles. California quickly launched CA.gov/LAfires as a single hub of information and resources to support those impacted and bolsters in-person Disaster Recovery Centers. The Governor also launched LA Rises, a unified recovery initiative that brings together private sector leaders to support rebuilding efforts. Governor Newsom announced that individuals and families directly impacted by the recent fires living in certain zip codes may be eligible to receive Disaster CalFresh food benefits.

Getting kids back in the classroom. Governor Newsom signed an executive order to quickly assist displaced students in the Los Angeles area and bolster schools affected by the firestorms.

Protecting victims from real estate speculators. The Governor issued an executive order to protect firestorm victims from predatory land speculators making aggressive and unsolicited cash offers to purchase their property.

Helping businesses and workers get back on their feet. The Governor issued an executive order to support small businesses and workers, by providing relief to help businesses recover quickly by deferring annual licensing fees and waiving other requirements that may impose barriers to recovery.

Get help today

For those Californians impacted by the firestorms in Los Angeles, there are resources available.Californians can go to CA.gov/LAfires – a hub for information and resources from state, local and federal government.

Individuals and business owners who sustained losses from wildfires in Los Angeles County can apply for disaster assistance:

Online at DisasterAssistance.gov

By calling 800-621-3362

By using the FEMA smart phone application

Assistance is available in over 40 languages

If you use a relay service, such as video relay service (VRS), captioned telephone service or others, give FEMA the number for that service
Press Releases, Recent News
Recent news

Feb 7, 2025

News SACRAMENTO – Governor Gavin Newsom today announced the following appointments:Khalil “KC” Mohseni, of Sacramento, has been appointed Commissioner of the California Department of Financial Protection and Innovation, where he has been the Chief Deputy Director…

Feb 7, 2025

News SACRAMENTO – Governor Gavin Newsom today announced that he has signed the following bills: SBX1-1 by Senator Scott Wiener (D-San Francisco) – Budget Act of 2024.SBX1-2 by Senator Scott Wiener (D-San Francisco) – Budget Act of 2024. A signing message can be found…

Feb 7, 2025

News LOS ANGELES — Governor Gavin Newsom, LA28 Chairperson and President Casey Wasserman, Dodgers Chairman Mark Walter, and NBA legend Earvin “Magic” Johnson have teamed up through LA Rises to release a new PSA warning fire victims about predatory real estate…

MIL OSI USA News –
February 11, 2025
MIL-OSI USA: Growing Colorado’s Leading Aerospace Industry: Gov. Polis Announces Digantara Expansion in Colorado Springs

Source: US State of Colorado

COLORADO SPRINGS – Today, Governor Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) announced that Digantara, a leading space surveillance and intelligence company specializing in space domain awareness, has selected Colorado Springs, Colorado, for expansion.

“I’m thrilled to welcome Digantara to Colorado, the best place to live, work, and do business. Digantara will bring 61 new, good-paying jobs while supporting safer space operations,” said Governor Polis.

Based in India, Digantara develops space surveillance systems designed to manage increasing orbital traffic and enhance space operations by delivering accurate and real-time orbital insights. The company’s systems pair constellations of cost-efficient nanosatellites in low earth orbit with precise modeling to enable the space industry to secure long-term spaceflight safety and build maps for space.

“Colorado is a leader in aerospace innovation, and we’re thrilled to welcome Digantara to our growing Aerospace community,” said Lt. Governor Dianne Primavera and co-chair of the Colorado Space Coalition. “With top research institutions, a skilled workforce, and strong industry partnerships, our state is the ideal place for companies shaping the future of space. We look forward to seeing Digantara’s impact on space sustainability and security.”

Digantara specializes in patented space-to-space tracking Optical and LiDAR systems. The company plans to establish a Satellite Assembly, Integration and Testing (AIT) facility in Colorado Springs to develop these payloads locally, catering to the Intelligence, Surveillance and Reconnaissance (ISR) needs of U.S. Government and Department of Defense agencies.

“Colorado stands at the heart of the US aerospace-defense ecosystem, making it the perfect base for Digantara. Here, we aim to collaborate with the US aerospace and defense community locally, advancing global space security through innovation and partnership. Our mission is clear: contribute to U.S. and its allies’ defense efforts and help ensure a safe, sustainable space for a secure future,” said Anirudh Sharma, CEO of Digantara.

Digantara champions space sustainability, with active advocacy in the Paris Peace Forum’s Net Zero Space Initiative and the UN Space Bridge Dialogue on Global Space Traffic Coordination. In Colorado Springs, the company plans to establish a U.S. base to pursue opportunities to collaborate with U.S. defense agencies on surveillance and defense initiatives. This includes a capital investment of $35 million. Proximity to talent and the opportunity to locate in a leading aerospace market were key considerations.

“Colorado is now home to 2,000 aerospace companies, an increase of 26% over the last five years. When companies like Digantara expand in our state, they continue to strengthen this key sector of our economy while advancing innovative new technologies that will be critical to space and space missions,” said OEDIT Executive Director Eve Lieberman.

Digantara expects to create 61 net new jobs at an average annual wage of $82,645, which is 130% of the average annual wage in El Paso County. The positions will include software engineers, systems engineers, business developers, human resources, and finance roles.

The Colorado Economic Development Commission approved up to $759,034 in a performance-based Job Growth Incentive Tax Credit for the company over an eight-year period. These incentives are contingent upon Digantara, referred to as Project Diamond throughout the OEDIT review process, meeting net new job creation and salary requirements. The Colorado Springs City Council approved $198,225 over a four-year period in performance-based incentives. The sales and use tax rebates apply to the purchases of construction materials, equipment, machinery, furniture, and fixtures. The City’s Economic Development Department also offered to support the company through its Rapid Response Program, as well as talent and workforce development support. Additionally, El Paso County approved $812,030 in incentives.

“We are thrilled to welcome Digantara as they open their first U.S. office right here in our Colorado Springs, Olympic City USA,” said Mayor Yemi Mobolade. “As a key player in space surveillance and intelligence, specializing in space domain awareness, they are a perfect fit for our growing ecosystem of tech, aerospace, space, and cybersecurity companies. This is yet another example of the exciting expansion we’re seeing in this critical sector, further solidifying Colorado Springs’ position at the forefront of space innovation.”

“El Paso County is proud to support Digantara, which enhances our region’s leadership in the aerospace and defense industries—sectors that drive our local economy and safeguard our national security. We are committed to supporting businesses that create jobs, invest in our workforce, and strengthen our local economy. This investment goes beyond a single project; it represents a commitment to the future of our region, reinforcing our position as a place where businesses can innovate, expand, and thrive,” said El Paso County Commissioner and Chair Carrie Geitner.

“Digantara’s expansion is a big win for Colorado Springs and the Pikes Peak region, boosting our space talent and reinforcing our reputation as a prominent force in national security and a top location for aerospace and defense investments,” said Johnna Reeder Kleymeyer, President & CEO of Colorado Springs Chamber & EDC. “With our strong and diverse economy, highly skilled workforce, and cutting-edge technologies, it’s clear that Colorado Springs is the ideal place for space companies to innovate and thrive.”

In addition to Colorado, Digantara considered North Carolina, Texas and California for expansion. The company currently has 70 employees, none of whom are in Colorado.

About Colorado Office of Economic Development and International Trade

The Colorado Office of Economic Development and International Trade (OEDIT) works to empower all to thrive in Colorado’s economy. Under the leadership of the Governor and in collaboration with economic development partners across the state, we foster a thriving business environment through funding and financial programs, training, consulting and informational resources across industries and regions. We promote economic growth and long-term job creation by recruiting, retaining, and expanding Colorado businesses and providing programs that support entrepreneurs and businesses of all sizes at every stage of growth. Our goal is to protect what makes our state a great place to live, work, start a business, raise a family, visit and retire—and make it accessible to everyone. Learn more about OEDIT.

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MIL OSI USA News –

February 11, 2025
MIL-OSI Europe: Answer to a written question – Billionaires’ companies benefiting from Common Agricultural Policy subsidies – E-002644/2024(ASW)

Source: European Parliament

A decades-long farm consolidation is part of a deeper trend observed in major market-based economies, including the EU, driven by a combination of factors, such as economies of scale, technological advancements, access to capital, as well as demographic trends.

The Guardian article grossly overestimates the amounts received by the largest Common Agricultural Policy (CAP) recipients. The Eurostat Farm Structure Survey shows that the average physical farm size of Portuguese farms increased from 12.6 ha in 2007 to 13.7 ha in 2020 (+8.2%), while the EU-27 average farm size increased from 11.6 ha to 17.1 ha over the same period (+ 47.5%).

Regarding distribution of direct payments in Portugal, in 2022, the 20% largest beneficiaries (by the amount of payment) received 80% of direct payments.

However, these 20% largest beneficiaries were farming 87% of the land. Yet in 2015, the 20% largest beneficiaries received 84% of direct payments and farmed 86% of land.

Thus, the concentration of direct payments slightly decreased between 2015 and 2022, despite the fact that the concentration of land has increased.

This shows the first results of the current redistribution mechanisms, including a redistributive payment (CRISS) and an increase of the payment under the Small Farmers Scheme (SFS). Under the current CAP, Portugal allocated a total of EUR 348.6 million to CRISS. A total of EUR 319.5 million was allocated to SFS.

Lastly, the Commission recently proposed to strengthen the position of farmers in the food supply chain, both via the common market Organisation and the new Unfair Trading Practices cross border enforcement regulations.

The CAP post-2027 will further consider how to better target the distribution of the CAP funds.

MIL OSI Europe News –

February 11, 2025
MIL-OSI Europe: Answer to a written question – Consequences of the digital euro for financial stability and individual freedoms – E-002634/2024(ASW)
Source: European Parliament
The Commission proposal on a digital euro[1] takes the possible impact on financial stability and individual freedoms very seriously and proposes effective safeguards.

The proposal aims to preserve financial stability in normal and crisis times. The digital euro is envisaged primarily as a means of payment rather than a store of value.

Accordingly, the European Central Bank (ECB) would be required to develop tools to limit the digital euro’s store of value function, i.e. via limits on individual digital euro holdings, which the ECB could adapt over time to evolving circumstances.

These holding limits together with the zero interest rates and the payment function without actual holdings in digital euro (so called reverse waterfall mechanism) would limit the shift of commercial bank deposits to digital euro and thus mitigate the risk of bank disintermediation, protecting financial stability and the provision of credit by commercial banks.

The proposal also clearly and transparently limits and frames the processing of personal data related to the digital euro. This ensures full respect of the General Data Protection Regulation (GDPR)[2], including the principles of data minimisation and purpose limitation[3]. A user would be identified in line with EU anti-money laundering and counter terrorist financing rules[4].

The ECB would not have access to a user’s identity. The pseudonymisation foreseen in the proposal aims to ensure that users cannot be identifiable based on data patterns.

The proposal ensures that neither the ECB nor payment service providers would have access to data related to offline transactions as these would be settled directly between users. Offline transactions would therefore give users a level of privacy comparable to cash.

[1] COM/2023/369 final.

[2] OJ L 119, 4.5.2016, p. 1-88.

[3] Member State data protection authorities established under the GDPR will be responsible for the supervision of processing of personal data related to the digital euro as well as under the European Union Data Protection Regulation (OJ L 295, 21.11.2018, p. 39-98).

[4] https://finance.ec.europa.eu/financial-crime/anti-money-laundering-and-countering-financing-terrorism-eu-level_en
Last updated: 10 February 2025
MIL OSI Europe News –
February 11, 2025
MIL-OSI Europe: Answer to a written question – Competition among protein-based COVID-19 vaccines – E-002695/2024(ASW)
Source: European Parliament

The availability of COVID-19 protein-based vaccines is primarily determined by clinical development priorities of vaccine developers. Neither the Commission nor the European Medicines Agency (EMA) have control over this aspect.

EU regulators, including EMA, assess the scientific evidence submitted by developers in the context of a marketing authorisation application.

While they can provide guidance on vaccines development, the actual production of such products ultimately depends on the companies developing them.

As regards COVID-19 vaccines, Comirnaty and Spikevax (mRNA-based) and Nuvaxovid and Bimervax (protein-based) are authorised in the EU.

For the autumn 2024 COVID-19 vaccination campaigns, EMA issued a statement[1] and the Commission authorised adapted mRNA vaccines (Comirnaty JN.1, Comirnaty KP.2 and Spikevax JN.1) and an adapted protein-based vaccine (Nuvaxovid JN.1).

EMA is currently assessing an adapted Bimervax vaccine (JN.1). Overall, these vaccines are expected to also cover the emerging XEC variant.

In principle, the Commission supports the availability of any type of COVID-19 vaccine following EMA’s recommendation on approval[2]. Vaccination policy is a national competence, and the Commission supports EU countries in coordinating their policies and programmes.

In July 2024, the Commission and 15 countries launched a call for tender for the supply of protein-based COVID-19 vaccines under the Joint Procurement Agreement[3], offering an alternative option to citizens who cannot or do not want to receive a mRNA COVID-19 vaccine.

This call for tender targets producers of protein-based COVID-19 vaccines authorised for use in the EU. More information will be available after the closure of the procedure.
- [1] https://www.ema.europa.eu/en/documents/other/ema-confirms-its-recommendation-update-antigenic-composition-authorised-covid-19-vaccines-2024-2025_en.pdf
- [2] https://www.ema.europa.eu/en/human-regulatory-overview/public-health-threats/coronavirus-disease-covid-19/covid-19-medicines
- [3] https://health.ec.europa.eu/health-security-and-infectious-diseases/preparedness-and-response-planning_en#joint-procurement-of-medical-countermeasures-ensuring-proper-preparedness
MIL OSI Europe News –
February 11, 2025
MIL-OSI United Nations: Non-Governmental Organizations Brief the Committee on the Elimination of Discrimination against Women on the Situation of Women in Sri Lanka

Source: United Nations – Geneva

The Committee on the Elimination of Discrimination against Women was this afternoon briefed by representatives of non-governmental organizations on the situation of women’s rights in Sri Lanka, the report of which the Committee will review this week.

The Committee will also review the reports of Belize, Congo and Liechtenstein this week, but there were no non-governmental organizations speaking on those countries.

Non-governmental organizations speaking on Sri Lanka raised concerns relating to discriminatory legislation, gender-based violence, and the treatment of sex workers, among other issues.

The following non-governmental organizations spoke on Sri Lanka: Women and Media Collective and Social Scientists Association; Women and Media Collective;

Suriya Women’s Development Centre; Centre for Equality and Justice; Sex Workers and Allies South Asia; Women’s Action Network; and Global Campaign for Equality in Family Law, Equality Now.

The Committee on the Elimination of Discrimination against Women’s ninetieth session is being held from 3 to 21 February. All documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage. Meeting summary releases can be found here. The webcast of the Committee’s public meetings can be accessed via the UN Web TV webpage.

The Committee will next meet in public at 10 a.m. on Tuesday, 11 February to consider the fifth to ninth periodic report of Belize (CEDAW/C/BLZ/5-9).

Statement by Committee Chair

NAHLA HAIDAR, Committee Chair, said this was the second opportunity during the present session for non-governmental organizations to provide information on States parties whose reports were being considered during the second week of the session, namely Belize, Congo, Sri Lanka and Liechtenstein. It was regretful that non-governmental organizations from Belize, Congo and Liechtenstein were not present, but the presence of representatives from Sri Lanka was greatly appreciated. The Committee greatly appreciated that they had travelled all the way to Geneva, as the information they provided was crucial.

Statements by Non-Governmental Organizations from Sri Lanka

Sri Lanka

Speakers on Sri Lanka said the economic crisis which had engulfed the country since 2020 had exacerbated the economic rights of women there, compounding labour market inequalities, unpaid care work, the lack of comprehensive and inclusive social protection, and rural economic challenges. Women’s labour force participation remained low at 32.1 per cent, with many employed in low-wage, insecure jobs in the informal sector as well as in the formal sector. The gender pay gap remained high, with women earning 27 per cent less than men on average. Proposed labour law reforms promoting part-time and ‘flexible’ work risked further job insecurity for women. In the plantation sector, Malaiyaha Tamil women continued to experience intense labour exploitation and wage discrimination

A speaker said that Sri Lanka must urgently abolish the centralised power in the office of the Executive President and enable a judicial review of legislation. Despite international treaty obligations, several discriminatory laws persisted. The Penal Code continued to criminalise consensual same sex relations and abortion. Statutory rape of married girls between the ages of 12 and 16 by their husbands was exempt. Urgent legal reforms were therefore a priority.

The Economic Transformation Act and the policy to create new economic zones without adequate protections for labour, land and local economic development was a serious concern. The weak national action plan on women peace and security 2023-2027 needed to be revised. The independent National Commission on Women needed to be established without delay. Increasing women in decision making required urgent attention and the low representation of women in the new Cabinet was concerning.

Gender based violence continued with impunity. Protections, support services and judicial sensitivities under the Prevention of Domestic Violence Act needed to be strengthened. Technology-facilitated sexual and gender-based violence, a continuum of offline violence, was a fast-evolving form of violence against women. It was imperative that specific laws on technology-facilitated sexual and gender-based violence were included. Women sentenced to death faced intersectional discrimination. As of 2024, 23 women were on death row. It was vital that Sri Lanka regularly published disaggregated data regarding people charged with capital crimes.

While sex work was not criminalised, sex workers were arbitrarily arrested and subjected to violence under the vagrants and brothels ordinances. Police violence and systemic discrimination against sex workers persisted, including through the vagrants ordinance. In custody, sex workers were subjected to sexual bribery, forced sexually transmitted disease testing, physical violence, and prolonged detention. The practice of sexual bribery against sex workers continued with no consequence for the perpetrators. A speaker urged the State to fulfil the Committee’s recommendation to repeal the vagrants ordinance and other provisions criminalising sex workers.

In 2024, exam results of 70 advanced level Muslim students were withheld by the Department of Examinations because the girls’ hijabs covered their ears in violation of examination rules. Muslim women and girls were deprived of State protection under the Muslim Marriage and Divorce Act which had no minimum age of marriage, prevented women from signing marriage contracts, excluded Muslim women from becoming judges, prohibited two Muslims marrying under the general marriage registration ordinance, and allowed unconditional polygamy and non-registration of marriage. It also contained unequal divorce provisions. The bill which addressed these concerns needed to be enacted without delay. In 2024, a study conducted across nine districts indicated that almost 50 per cent of Muslim women reported being victims of female genital mutilation, or knowing someone who was. Victims of female genital mutilation in Sri Lanka were newborn girls after seven days, nine days, 15 days, 40 days and some at six to eight years.

A speaker said the Penal Code only criminalised marital rape in the context of a married woman raped by her husband if she was judicially separated from him. The Code needed to be amended to include marital rape in all circumstances. Several provisions in the personal laws discriminated against women, for example, the Thesawalamai law restricted Tamil women from disposing of separate property. Women faced severe obstacles in accessing justice in family law: litigation costs were high; legal aid was limited; and there was a lack of gender-sensitivity among personnel in the justice sector.

Comprehensive reform towards an effective and efficient family court system was imperative. In the plantation communities, there was a lack of Tamil-speaking personnel in law enforcement. Lesbian, bisexual, transgender and intersex persons were unable to access police as same-sex conduct was criminalised. The State must ensure prompt, effective and adequate measures for access to justice for women, including from minorities and vulnerable groups.

Questions by Committee Experts

A Committee Expert asked about the national action plan on women, peace and security which needed to be revised; what kind of revision was required? What was the status of the Truth, Reconciliation and Non-Repetition Commission? How was conflict-related sexual violence being addressed in this context? What was the status of abortion, including data and access to safe abortion?

Another Expert asked for the main factors which hindered women’s access to justice? Could more information be provided on how to improve the impact of the National Women’s Council, the Human Rights Ministry, and other bodies? How could they improve their relationship with civil society organizations?

A Committee Expert asked about the economic reform, in view of women’s participation in the labour market?

An Expert asked about women’s representation in political institutions. Had quotas and their enforcement been successful? Was technology-facilitated abuse prevalent for women in decision-making positions and did it act as a deterrence for their participation?

Another Committee Expert asked about difficulties women experienced in transferring their citizenship to their children? What measures were in place to ensure migrant women could regularise their position, and obtain identification documents?

An Expert asked if there was information available about the changes in the Penal Code concerning the explicit clarification of marital rape? Were positive changes implemented concerning the law on domestic violence?

Responses by Non-Governmental Organizations

Sri Lanka

Responding to questions on Sri Lanka, a speaker said access to justice was a difficult and lengthy process for victims of gender-based violence, particularly those in the Tamil area. This was due to stigma around reporting, and the lack of police officers near the plantation sector who could speak in the Tamil language. Typically, the average court procedure took 17 years to complete one case, while the victims faced repeated victimisation.

The reforms suggested aimed to increase women’s workforce participation through part-time and flexible work. However, there were concerns that the current leave provisions and other benefits would not be included.

Abortion was considered illegal in Sri Lanka unless the life of the mother was at risk. However, despite rules that any woman could seek post-abortion care, stigma prevented many women from accessing this option, and many women instead accessed abortion in unsafe and back-alley settings.

There was no family court system in Sri Lanka and privacy of proceedings was not always guaranteed, nor was the best interest of the child.

Obtaining identification documents remained challenging for sex workers. Many sex workers did not possess identity documents or birth certificates, and were reluctant to seek assistance due to police harassment. Not having these documents meant these women could not obtain legal documents which impacted their access to education.

Women in politics were among the primary victim survivors of technology-assisted gender-based violence, in the form of hate speech and degrading memes and images shared online. This was seen in the most recent election, with female candidates’ being targeted for their education, the way they dressed, and the way they spoke. Women politicians who supported family law reforms faced social media attacks, and this included Sri Lanka’s female Prime Minister who was recently elected. Social media companies such as Meta had not taken down harmful content.

A private members bill had been raised in the previous government regarding the amendment for allowing same sex marriage. However, after a second reading the bill was not passed. The Government was then dissolved, and a new Government was elected. There had been no updates to the amendment to the Penal Code regarding marital rape since March 2024.

The last parliamentary elections in 2024 doubled the number of women in parliament without a quota. However, a quota came into effect in 2018 for local authority elections. Political parties were legally mandated now to ensure 25 per cent of women were represented in politics; however, no political party had nominated more than 10 per cent of women in seats. It was hoped the State would move to parity and not stop at a limit of 35 per cent in relation to quotas.

Produced by the United Nations Information Service in Geneva for use of the media;
not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

CEDAW25.006E

MIL OSI United Nations News –

February 11, 2025
MIL-OSI Asia-Pac: Fourth India-UK Energy Dialogue- Advancing India’s energy transition held in New Delhi today

Source: Government of India

Fourth India-UK Energy Dialogue- Advancing India’s energy transition held in New Delhi today

Phase-2 of the India-UK bilateral Accelerating Smart Power & Renewable Energy in India (ASPIRE) programme announced

Posted On: 10 FEB 2025 8:44PM by PIB Delhi

The Fourth India-UK Energy Dialogue, co-chaired by Shri Manohar Lal, Union Minister of Power and Housing and Urban Affairs of India, and Mr. Ed Miliband, Secretary for Energy Security and Net Zero for United Kingdom, was held today in New Delhi.

The dialogue focused on reviewing progress made in the energy sectors of both nations, including power and renewable energy, and reaffirming the commitment to a sustainable, resilient, and inclusive energy future. The Ministers underscored the importance of ensuring that the energy transition and economic growth proceed together, while maintaining affordable and clean energy access for all.

The Ministers underscored the importance of ensuring energy security and sustainable development and emphasized expanding the cooperation in the areas of power distribution, sector reforms, industrial energy efficiency and de-carbonization, and electric mobility while exploring new opportunities in the emerging fields such as energy storage, green data centers, and offshore wind, with an increased focus on MSMEs.

The Ministers were pleased to announce the launch of Phase-2 of the India-UK bilateral Accelerating Smart Power & Renewable Energy in India (ASPIRE) programme. This phase will aim to provide technical support for ensuring round-the-clock power supply, expanding renewable energy initiatives, and accelerating industrial energy efficiency and de-carbonization, in collaboration with the Ministry of Power (MOP) and Ministry of New and Renewable Energy (MNRE).

The Ministers were pleased to observe the bilateral collaboration between the two sides to promote growth and jobs, through technical assistance cooperation and investment. They also discussed the progress of trade missions focusing on offshore wind and green hydrogen, as well as the cooperation between the UK’s Energy Systems Catapult and India’s Power Trading Corporation.

Recognizing the shared ambition for advancing offshore wind development, the Ministers announced the establishment of a UK-India Offshore Wind Taskforce, which will focus on advancing offshore wind ecosystem development, supply chains, and financing models in both countries. Mr. Miliband commended India’s ambitious initiatives in the renewable energy sector and shown a strong interest in gaining insights from India’s experience in implementing the Solar Rooftop Programme (PM – Surya Ghar Muft Bijli Yojna).

The Ministers agreed on the importance of power market regulations in driving the energy transition and ensuring greater energy security and access. To support this, they announced the continuation of the Power Sector Reforms programme under the UK Partnering for Accelerating Climate Change (UKPACT). Additionally, a new taskforce has been proposed between the UK’s Office of Gas and Electricity Markets (OFGEM) and India’s Central Electricity Regulatory Commission (CERC) to support renewable energy integration and grid transformation in India.

Both Ministers emphasized the ongoing value of the India-UK Energy Dialogue in advancing mutual energy transition goals, ensuring energy access, and building secure and sustainable clean energy supply chains while aligning these efforts with economic growth.

The Ministers expressed their intention to further strengthen their collaboration through the Comprehensive Strategic Partnership and looked forward to the fifth UK-India Energy Dialogue in 2026. The dialogue concluded with the launch of the ‘Best Practices Compendium of Industrial Energy Efficiency/Decarbonisation’ and a ‘Pathways for Energy Efficiency and Decarbonisation in the Indian Aluminium Sector’.

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JN/ SK

(Release ID: 2101542) Visitor Counter : 44

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Asia-Pac: PRIME MINISTER’S 15 POINT PROGRAMME FOR MINORITIES
Source: Government of India

Posted On: 10 FEB 2025 8:19PM by PIB Delhi

The Prime Minister’s New 15 Point Programme for welfare of Minorities is a programme which covers various schemes/initiatives of the participating Ministries/Departments with an aim to ensure that the underprivileged and weaker sections of six centrally notified minority communities have equal opportunities for availing the various Government welfare Schemes and contribute to the overall socio-economic development of the Country.

The programme has the following broad objectives: (i) Enhancing opportunities for education; (ii) Ensuring an equitable share for minorities in economic activities and employment, through existing and new schemes, enhanced credit support for self-employment, and recruitment to State and Central Government jobs; (iii) Improving the conditions of living of minorities by ensuring an appropriate share for them in infrastructure development schemes; and (iv) Prevention and control of communal disharmony and violence.

The schemes of the Ministry of Minority Affairs covered under the Prime Minister’s 15 Point Programme are exclusively meant for notified minorities. However, 15% of the outlays and targets, to the extent possible, of schemes/initiatives implemented by other participating Ministries/Departments are earmarked for notified minorities.

The welfare schemes, including initiatives for education and skill development of minorities, being implemented by Ministry of Minority Affairs and other participating ministries under the programme, are as under:
1. Pre-Matric Scholarship Scheme
2. Post-Matric Scholarship Scheme
3. Merit-cum- Means based Scholarship Scheme
4. National Minorities Development Finance Corporation (NMDFC) Loan Schemes
5. Samagra Shiksha Abhiyaan (M/o Education)
6. Deen Dayal Antyodaya Yojana (DAY-NRLM)- (M/o Rural Development)
7. Deen Dayal Upadhyay – Gramin Kaushalya Yojana (M/o Rural Development)
- viii. Pradhan Mantri Awaas Yojana (M/o Rural Development)
1. Deen Dayal Antyodaya Yojana – National Urban Livelihoods Mission (M/o Housing & Urban Affairs)
2. Priority Sector Lending by Banks (Department of Financial Services)
3. Pradhan Mantri Mudra Yojana (Department of Financial Services)
4. POSHAN Abhiyaan (Ministry of Women & Child Development)
- xiii. National Health Mission (Department of Health & Family Welfare)
1. Ayushman Bharat (Department of Health & Family Welfare)
2. National Rural Drinking Water Programme (Jal Jeevan Mission), (Department of Drinking Water & Sanitation)
The Schemes are being implemented by the respective Ministries/Departments under the saturation approach of Government. Under the saturation approach of the Government many of the components have achieved mainstreaming.

This information was given by the Union Minister of Minority & Parliamentary Affairs, Shri Kiren Rijiju in a written reply in the Rajya Sabha today

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SS/ISA

(Release ID: 2101517) Visitor Counter : 61

MIL OSI Asia Pacific News –
February 11, 2025
MIL-OSI Asia-Pac: PM-VIKAS SCHEME

Source: Government of India

Posted On: 10 FEB 2025 8:18PM by PIB Delhi

The Pradhan Mantri Virasat Ka Samvardhan (PM VIKAS) is a flagship Scheme of the Ministry of Minority Affairs which converges five erstwhile schemes viz. ‘Seekho Aur Kamao’, ‘Nai Manzil’, ‘Nai Roshni’, ‘Hamari Dharohar’ and ‘USTTAD’; and focuses on upliftment of six notified minority communities through skill development; entrepreneurship and leadership of minority women; and education support for school dropouts.

Additionally, the scheme provision to facilitate credit linkages by connecting beneficiaries with loan programs offered by the National Minorities Development & Finance Corporation (NMDFC). Beneficiaries would also be supported for market linkages through EPCH (Export Promotion Council for Handicrafts) to enhance their livelihood. The PM VIKAS scheme is yet to be implemented.

This information was given by the Union Minister of Minority & Parliamentary Affairs, Shri Kiren Rijiju in a written reply in the Rajya Sabha today

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SS/ISA

(Release ID: 2101513) Visitor Counter : 61

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Asia-Pac: Ministry of Minority Affairs specifically implements various schemes across the country for socio-economic and educational empowerment of the six centrally notified minority communities

Source: Government of India

Posted On: 10 FEB 2025 8:18PM by PIB Delhi

The Government implements various schemes for the welfare and upliftment of every strata, including minorities, specially the economically weaker and lesser privileged sections of the society. Ministry of Minority Affairs specifically implements various schemes across the country for socio-economic and educational empowerment of the six (6) centrally notified minority communities. The Udasi/Udasin Sect falls under one of these notified communities i.e. Sikh Community. These schemes are meant for the weaker segments of minority. The schemes/programmes implemented by Minority Affairs for the welfare of minority communities are as under:

1. Educational Empowerment Schemes

(i) Pre-Matric, (ii) Post-Matric and (iii) Merit-cum-Means based scholarships

2. Employment and Economic Empowerment Schemes

     (i) Pradhan Mantri Virasat Ka Samvardhan (PM VIKAS)

     (ii) Equity to National Minorities Development and Finance Corporation (NMDFC) for

           providing concessional loans to minorities.

3. Infrastructural Development Scheme

(i) Pradham Mantri Jan Vikas Karyakaram (PMJVK)

All the schemes together have contributed in the acquisition of high-level skills, greater opportunities in livelihood, high employability potential, improved access to better infrastructure, improved health and in the overall welfare of the Minority Communities.

This information was given by the Union Minister of Minority & Parliamentary Affairs, Shri Kiren Rijiju in a written reply in the Rajya Sabha today

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SS/ISA

(Release ID: 2101515) Visitor Counter : 57

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Asia-Pac: India-Israel Business & CEO Forums to Strengthen Bilateral Economic Ties

Source: Government of India (2)

India-Israel Business & CEO Forums to Strengthen Bilateral Economic Ties

India-Israel Business & CEO Forums to Strengthen Economic Cooperation High-Level Business Delegation Led by Israel’s Minister of Economy to Visit India

Posted On: 10 FEB 2025 8:10PM by PIB Delhi

India and Israel are set to deepen their economic and trade engagement with the India-Israel Business Forum and the India-Israel CEO Forum, both scheduled for February 11, 2025, in New Delhi. These forums will bring together top business leaders, policymakers, and industry stakeholders from both countries to explore new avenues of economic cooperation, technological collaboration, and investment opportunities.

Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India, and the Embassy of Israel, in partnership with the Confederation of Indian Industry (CII), is organizing the India-Israel Business Forum. The forum will focus on expanding trade relationships, fostering cross-sector collaborations, and identifying investment opportunities between Indian and Israeli businesses.

A high-level Israeli business delegation, led by H.E. Nir M. Barkat, Minister of Economy and Industry, State of Israel, will participate in the forum. The delegation includes leading Israeli enterprises and representatives from sectors such as technology, manufacturing, healthcare, agri-tech, food processing, defense, homeland security, water management, logistics, and retail.

The event will feature a ceremonial inaugural session, followed by panel discussions and B2B meetings, allowing Indian and Israeli business leaders to explore new opportunities for joint ventures, investments, and knowledge sharing. Representatives from the Government of India, the Government of Israel, and leading business organizations will participate in these discussions, focusing on sectoral growth and innovation-driven partnerships.

India and Israel’s shared commitment to technological advancement, innovation, and entrepreneurship makes them natural economic allies. With India’s rise as a global manufacturing and technology hub, the forum will provide a strategic platform to strengthen business-to-business (B2B) and government-to-business (G2B) ties.

Alongside the Business Forum, the Federation of Indian Chambers of Commerce & Industry (FICCI) will host the India-Israel CEO Forum, an exclusive gathering of top CEOs, senior executives, and policymakers from both nations.

The CEO Forum will serve as a high-level platform for industry leaders to discuss investment opportunities, policy frameworks, and emerging business trends. The discussions will revolve around technology collaboration, research & development, innovation-driven growth, and trade diversification.

Key focus areas for engagement between India and Israel include strengthening cooperation in technology and innovation, particularly in AI, digital transformation, and smart manufacturing. Defense and security partnerships will expand in areas like defense technology, cybersecurity, and homeland security solutions. Joint projects in clean energy and sustainability will promote renewable energy, water conservation, and green technologies. In healthcare and life sciences, collaborations will be enhanced in medical research, pharmaceutical trade, and biotech investments. Additionally, agriculture and food security will benefit from Israeli expertise in precision agriculture, drip irrigation, and sustainable farming solutions.

India and Israel have witnessed steady growth in bilateral trade, which has diversified significantly beyond traditional sectors like diamonds and precious metals to include engineering goods, chemicals, electronics, defense, and agricultural products.

Israeli investments in India have been expanding, with various Israeli companies operating in various sectors, including renewable energy, water technology, defense, and manufacturing. Similarly, Indian companies have made significant inroads into Israel, particularly in pharmaceuticals, IT, and infrastructure.

The CEO Forum will provide a unique opportunity for business leaders to develop new partnerships, exchange insights, and explore pathways for expanding bilateral trade and investment flows.

Both forums are in line with India and Israel’s long-term vision for economic growth and cooperation, highlighting the importance of strengthening business connections, policy discussions, and strategic partnerships. They will promote deeper engagement between Indian and Israeli industries, encourage foreign direct investment (FDI) and joint ventures, foster technology transfer and innovation partnerships, and boost trade by implementing policy reforms and establishing new agreements.

As India moves towards its goal of Viksit Bharat (Developed India) by 2047, and Israel continues to strengthen its global economic partnerships, these forums will play a crucial role in shaping the future of India-Israel economic ties.

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Abhishek Dayal/Abhijith Narayanan/Asmitabha Manna

(Release ID: 2101505) Visitor Counter : 58

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Asia-Pac: Union Minister of Agriculture and Farmers’ Welfare Shri Shivraj Singh Chouhan approves extension of Groundnut procurement in Gujarat by 6 days & in Karnataka by 25 days

Source: Government of India

Union Minister of Agriculture and Farmers’ Welfare Shri Shivraj Singh Chouhan approves extension of Groundnut procurement in Gujarat by 6 days & in Karnataka by 25 days

Soyabean procurement extended in Maharashtra by 24 days & in Telangana by 15 days as per instructions of Shri Shivraj Singh Chouhan

Government of India approves continuation of PM-AASHA

PM-AASHA to be continued during 15th Finance Commission Cycle up to 2025-26

Government has allowed the procurement of Tur, Urad and Masur under PSS equivalent to 100% of the production of the State for the procurement year 2024-25.

Posted On: 10 FEB 2025 6:37PM by PIB Delhi

The Government of India approved the continuation of the integrated Pradhan Mantri Annadata Aay SanraksHan Abhiyan (PM-AASHA) Scheme during the 15th Finance Commission Cycle up to 2025-26. Integrated Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA) Scheme comprises Price Support Scheme (PSS), Price Deficiency Payment Scheme (PDPS), Market Intervention Scheme (MIS) and Price Stabilisation Funds (PSF). Department of Agriculture & Farmers’ Welfare (DA&FW) administers PSS, PDPS and MIS whereas Department of Consumer Affairs administers PSF. The integrated PM-AASHA Scheme is administered to bring-in more effectiveness in the implementation of procurement operations that would not only help in providing remunerative prices to the farmers for their produce but also control the price volatility of essential commodities by ensuring their availability at affordable prices to consumers.

Under the Price Support Scheme, the procurement of the notified Pulses, Oilseeds and Copra conforming to the prescribed Fair Average Quality (FAQ) is undertaken by the Central Nodal Agencies (CNAs) at the MSP directly from the pre-registered farmers through the State level agencies.

The Government approved the procurement of Soyabean under the Price Support Scheme (PSS) in the States of Chhattisgarh, Gujarat, Karnataka, Madhya Pradesh, Maharashtra Rajasthan and Telangana for Kharif 2024-25. A quantity of 19.99 LMT of Soyabean has been procured till 9th February, 2025 benefitting 8,46,251 farmers. Further Minister of Agriculture and farmers’ welfare Shri Shivraj Singh Chouhan has approved the proposal to extend the period of procurement in Maharashtra by 24 days and in Telangana by 15 days beyond the normal procurement period of 90 days keeping the interest of farmers of the state.

Similarly, the Government approved the procurement of Groundnut under the Price Support Scheme (PSS) in the States of Andhra Pradesh, Chhattisgarh, Gujarat, Haryana Karnataka, Rajasthan and Uttar Pradesh for Kharif 2024-25. A quantity of 15.73 LMT of Groundnut has been procured till 9th February, 2025 benefitting 4,75,183 farmers. Further, Minister of Agriculture and farmers’ welfare Shri Shivraj Singh Chouhan has approved the proposal to extend the period of procurement of Groundnut in Gujarat by 6 days and in Karnataka by 25 days beyond the normal procurement period of 90 days in the interest of farmers of the state.

Further, to incentivize the farmers contributing to enhancement of domestic production of pulses and to reduce the dependence on imports, the Government has allowed the procurement of Tur, Urad and Masur under PSS equivalent to 100% of the production of the State for the procurement year 2024-25. The Government has also made an announcement in Budget 2025 that procurement of Tur, Urad and Masur up to 100% of the production of the State will be continued for another four years through Central Nodal Agencies to achieve self- sufficiency in pulses in the country.

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MG/ KSR

(Release ID: 2101441) Visitor Counter : 81

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Asia-Pac: Director of Hong Kong and Macao Work Office of CPC Central Committee and Hong Kong and Macao Affairs Office of State Council Mr Xia Baolong inspects Hong Kong Park of Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone and Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone

Source: Hong Kong Government special administrative region

     The Director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee and the Hong Kong and Macao Affairs Office (HKMAO) of the State Council, Mr Xia Baolong, visited the Hong Kong Park (the Park) of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone and the Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone yesterday (February 9). During his inspection, Mr Xia hosted a discussion session in Qianhai and was briefed by the Hong Kong Special Administrative Region (HKSAR) Government on its work plans on the economy and financial services.

     In the morning, Mr Xia, accompanied by the Acting Chief Executive, Mr Chan Kwok-ki, and the Financial Secretary, Mr Paul Chan, paid an on-site visit to the Park. Mr Xia listened to presentations by the Secretary for Development, Ms Bernadette Linn, on the overall planning and development overview of the Northern Metropolis, as well as by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, on the the latest development progress and the key foci of work for the Park.

     Thereafter, Mr Xia inspected the Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone, and hosted a discussion session in which Mr Paul Chan introduced work and focus by the HKSAR Government in 2025 to advance the economy. The session lasted for nearly four hours, with in-depth discussions about how Hong Kong could further understand, respond to and embrace changes under the new circumstances, accelerate reforms to foster progress, enhance cooperation between Guangdong and Hong Kong, and better integrate into the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). The Secretary for Constitutional and Mainland Affairs, Mr Erick Tsang Kwok-wai; the Secretary for Financial Services and the Treasury, Mr Christopher Hui; the Secretary for Commerce and Economic Development, Mr Algernon Yau; Ms Linn; Professor Sun; the Secretary for Transport and Logistics, Ms Mable Chan; and the Acting Secretary for Culture, Sports and Tourism, Mr Raistlin Lau, attended the session.

     At the discussion session, Mr Xia recognised the work of the HKSAR Government under the leadership of the Chief Executive. He hoped that the HKSAR Government would thoroughly implement the spirit of the important speeches by President Xi in Macao and the Third Plenary Session of the 20th Central Committee of the Communist Party of China, and continue to be bold in reform, dare to break new ground, and to innovate continuously; and that there would be more reciprocal co-operation and collaborative development within the GBA.

     Mr Paul Chan stated that under the leadership of the Chief Executive, the HKSAR Government team will firmly uphold the principle of “one country” while leveraging the advantages of “two systems”. The Government team is determined to undertake reforms, dare to be innovative, and actively integrate into the national development and align with national development strategies. In face of a complex external environment, Hong Kong will co-ordinate development and security, maintain financial and economic security, whilst promoting the acceleration of economic progress. As the country further deepens reforms, promotes high-quality development and advances high-level opening up, Hong Kong will leverage its unique advantages and functions of connecting with both the Mainland and the world, as well as its strong international character. Hong Kong will reinforce traditional advantageous industries such as financial services, trade and shipping, while also exploring new development areas. At the same time, Hong Kong will focus on nurturing new quality productive forces and new economic growth points, and continue to make systematic investments in innovation and technology. Hong Kong will harness platforms such as the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone and the Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone, and strengthen collaboration with sister cities in the Guangdong-Hong Kong-Macao Greater Bay Area, seeking to play to the comparative strengths of the cities and elevate their economic development.

     The Governor of Guangdong Province and Deputy Head of the Office of the Leading Group on Construction of the GBA of Guangdong Province, Mr Wang Weizhong; Executive Deputy Director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee and the HKMAO of the State Council, Mr Zhou Ji; Deputy Director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee and Director of the Liaison Office of the Central People’s Government in the HKSAR (LOCPG), Mr Zheng Yanxiong; Deputy Director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee and the HKMAO of the State Council, Mr Nong Rong, Deputy Director of LOCPG, Mr Qi Bin, joined the inspection and discussion session.

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Asia-Pac: India and EFTA Strengthen Economic Ties with the Inauguration of the India-EFTA Desk

Source: Government of India

India and EFTA Strengthen Economic Ties with the Inauguration of the India-EFTA Desk

India-EFTA Desk will function as a single-window mechanism to provide support to EFTA businesses looking to invest, expand, or establish operations in India

Business Roundtable Witnessed Participation from Over 100 Companies from India and EFTA Nations

Posted On: 10 FEB 2025 6:27PM by PIB Delhi

India and the European Free Trade Association (EFTA) – comprising Switzerland, Norway, Iceland, and Liechtenstein – have taken a significant step towards deeper economic collaboration with the inauguration of the India-EFTA Desk. This initiative follows the recently concluded India-EFTA Trade and Economic Partnership Agreement (TEPA), which positions EFTA as the first European bloc to formalize a trade pact with India. Union Minister for Commerce and Industry, Shri Piyush Goyal hailed TEPA as a landmark agreement, emphasizing India’s growing role in global trade. “This desk will serve as the bridge between businesses on both sides, ensuring transparency, trust, and ease of doing business,” he stated. He underscored India’s ambition to surpass $100 billion in EFTA investments, highlighting the country’s commitment to fostering equitable and mutually beneficial trade relationships.

The India-EFTA Desk will provide structured support to EFTA businesses looking to invest, expand, or establish operations in India. High-ranking dignitaries from all four EFTA nations attended the launch, reaffirming their commitment to strengthening economic ties.

Switzerland’s State Secretary for Economic Affairs, Ms. Helene Budliger Artieda, described TEPA as a “new chapter for investment promotion and cooperation,” citing over CHF 10 billion in Swiss FDI that has created 146,000+ jobs in India, particularly in manufacturing. She projected a surge in investments across precision industries, chemicals, food processing, and pharmaceuticals, suggesting that an Invest India office in Switzerland could further drive investment flows.

Norway’s State Secretary of Trade and Industry, Mr. Tomas Norvoll, likened TEPA to an airport, with the EFTA Desk serving as the landing strip for businesses. He noted that Norwegian companies in India have doubled in the last decade, with sovereign wealth fund assets reaching $31.4 billion.

Iceland’s Permanent Secretary for Foreign Affairs, Mr. Martin Eyjolfsson, called TEPA “the most significant trade agreement EFTA has signed in decades,” reinforcing India’s role as a key economic partner for Europe. He highlighted growing cooperation in renewable energy, seafood, and pharmaceuticals, positioning TEPA as a stabilizing force amid global economic uncertainty.

Liechtenstein’s Minister of External Affairs, Education, and Sport, Ms. Dominique Hasler, emphasized the Desk’s role in facilitating high-value manufacturing and innovation-driven industries. She pointed to Hilti’s success in India and expressed optimism that TEPA would encourage more Liechtenstein-based firms to expand.

The India-EFTA Desk will drive investment in renewable energy, life sciences, engineering, and digital transformation. Secretary, DPIIT, Shri Amardeep Singh Bhatia, noted that TEPA will spur joint ventures, SME collaborations, and technology partnerships, with the Desk streamlining regulatory navigation for EFTA businesses.

Union Minister of State, Shri Jitin Prasada, highlighted EFTA’s strategic importance to India’s development goals, citing Norway’s expertise in green shipping, Switzerland’s advancements in rail networks, Iceland’s leadership in geothermal energy, and Liechtenstein’s high-value manufacturing. He also pointed to research collaborations between IITs and the Arctic University of Norway, demonstrating TEPA’s broader scope beyond trade.

Following the Desk’s inauguration, a high-level Business Roundtable chaired by Shri Piyush Goyal convened to explore opportunities and address trade challenges. Discussions identified key sectors, including seafood & maritime, energy, financial services, pharmaceuticals, engineering, and food processing.

Looking ahead, the India-EFTA Desk will serve as the primary channel for fostering continuous business-government dialogue. The Indian government has pledged to work closely with EFTA partners to unlock TEPA’s full potential. Concluding the discussions, Shri Piyush Goyal called TEPA a “model agreement” and reaffirmed India’s readiness to build a robust future with EFTA, stating: “India is ready when you are. Let’s build this future together.”

With the official inauguration of the EFTA Desk, India and EFTA have entered a new era of economic cooperation, ensuring that businesses from both regions thrive in an era of sustainable and innovation-driven growth.

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Abhishek Dayal/Abhijith Narayanan/Asmitabha Manna

(Release ID: 2101431) Visitor Counter : 65

MIL OSI Asia Pacific News –

February 11, 2025

MIL-OSI Asia-Pac: Special campaigns have been launched for enrolling individuals under various financial inclusion Schemes

Source: Government of India

Special campaigns have been launched for enrolling individuals under various financial inclusion Schemes

54.58 Crore Jan Dhan Accounts Opened, 55.7% held by women

13 Lakh Banking Correspondents and 107 Digital Banking Units are facilitating credit access along with Jan Samarth Porta and ‘PSB Loans in 59 Minutes’ among others

Posted On: 10 FEB 2025 6:24PM by PIB Delhi

The Government initiated the National Mission for Financial Inclusion (NMFI), namely the Pradhan Mantri Jan Dhan Yojana (PMJDY) in August, 2014 to provide universal banking services for every unbanked household based on the guiding principles of banking the unbanked, securing the unsecured, funding the unfunded and serving unserved and underserved areas, with a strong focus on women. To give further impetus to financial inclusion initiatives of the Government, PMJDY Scheme was extended beyond 14.08.2018 and the focus was shifted to “every unbanked adult” instead of “every household”. A total of 54.58 crore JanDhan accounts have been opened till 15.01.2025, of which 30.37 crore (55.7%) belong to women. NMFI has also facilitated the coverage of women with various social security and credit linked Schemes.

To ensure accessibility of these schemes to women, rural population, marginalised groups and underprivileged communities in the country, various steps are being taken such as:

Allocation of targets to all banks under each scheme;
Organisation of various camps and specialised campaigns to promote awareness;
Periodic review of performance of banks etc;

All Banks, including private banks, participate in these activities to ensure effectiveness of these schemes and make them accessible to all stakeholders.

Several initiatives are being undertaken in an ongoing manner by the Government along with State Authorities to address challenges such as low enrolment, lack of awareness, etc. being faced in financial inclusion schemes in the country. Some of these areas under:

Several special campaigns have been launched, from time to time, at Gram Panchayat level to reach the last mile beneficiaries. These campaigns aim at enrolling individuals under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and other financial inclusion Schemes.
The State Level Bankers’ Committee (SLBC) plays a crucial role by coordinating efforts among Banks, Government agencies, Lead District Managers, Financial Institutions, Insurance companies, and other stakeholders to increase coverage under these Schemes at the state level.
Centre for Financial Literacy (CFL) pilot project on financial literacy was initiated by the Reserve Bank of India in 2017 with an objective to adopt community led innovative and participatory approaches to financial literacy.
A strong network of about 13 lakh Banking Correspondents (BCs), representing the last mile connect in the Banking Services delivery system, is also enrolling eligible people under financial inclusion Schemes.
To make digital financial services more accessible and user-friendly, 107 Digital Banking Units (DBUs) have been set-up by Banks (as on December 2024) with an objective to ensure the benefits of digital banking to every nook and corner of the country. These units offer facilities like opening of saving bank accounts, passbook printing, transfer of funds, loan applications, etc.
Further, various online platforms like Jan Samarth portal, PSB Loans in 59 Minutes, Stand-up Mitra, etc., have been established to provide quick and hassle-free credit to everyone in a user-friendly manner.

Financial Inclusion Schemes and Coverage
Category	Grand Total
Number of PMJDY Accounts (as on 15.01.2025)	545,780,806
Women PMJDY Accounts	303,710,652
PMJJBY Cumulative Enrolments (as on 15.01.2025)	225,220,758
Women PMJJBY Enrolments	100,095,919
PMSBY Cumulative Enrolments (as on 15.01.2025)	491,225,285
Women PMSBY Enrolments	228,437,446
APY Enrolments (as on 31.12.2024)	72,577,540
Women APY Enrolments	34,415,361
Source: Banks, Insurance Companies & PFRDA

This information was given by Union Minister of Finance, Nirmala Sitharaman in a written reply to a question in Lok Sabha today

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MIL OSI Asia Pacific News –

February 11, 2025

MIL-OSI Asia-Pac: Government has launched many initiatives to support women employees and entrepreneurs ensuring safe, secure and non-discriminating environment for women
Source: Government of India

Posted On: 10 FEB 2025 6:22PM by PIB Delhi

The Companies Act, 2013 (18 of 2013), administered by the Ministry of Corporate Affairs, has many provisions intending to nurture a safe, secure and non-discriminating environment for women at workplace.

2^nd Proviso to the Section 149 of the Companies Act read with Rule 3 of Companies (Appointment and Qualification of Directors) Rules, 2014, makes it mandatory for every listed company and every other public company having paid up share capital of Rs. 100 crore or more or having turnover of Rs. 300 crore or more to appoint at least one woman director.

Specified companies in its Board Report, to be attached with the Financial Statement filed annually, has to include a statement that the company has complied with provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 [14 of 2013]

Further, the Government has taken a number of initiatives to support women employees and women owned enterprises, as follows:
- To support women entrepreneurs under Credit Guarantee Scheme for Micro and Small Enterprises, additional benefits has been given to women than to the other entrepreneurs.
- Under Prime Minister Employment Generation Programme (PMEGP), which is a major credit-linked subsidy program in which the substantial beneficiaries are women who are provided higher subsidy viz-a-viz nonspecial category
- Stand-Up India (SUI) Scheme has the objective to facilitate loans from Scheduled Commercial Banks (SCBs) of value between Rs. 10 lakh and Rs. 1 crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and one women borrower per bank branch for setting up greenfield enterprise.
- An initiative namely “Yashasvini”, was launched on 27.06.2024, which aims to campaign for women entrepreneurs and empower women by building their capacity, with a focus in Tier-II/III towns.
● The Code on Social Security, 2020 and the Code on Wages, 2019 have provisions regarding maternity benefits to women workers and non-discrimination on grounds of gender respectively.

● The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 (SH Act) provides a legislative framework for prevention of sexual harassment at workplace. The Act provides for constitution of Internal Committee (IC) where the number of employees is 10 or more and also mandates for constitution of Local Committee (LC) by the District Officer notified under the Act to deal with the cases of workplaces where the number of employees is less than 10 or when the complaint is against the employer itself.
- In order to provide for a centralized platform for details of ICs and LCs available in the country as well as for providing a platform to the aggrieved woman to file her complaint, a revamped version Sexual Harassment electronic–Box (SHe-Box) was launched by Government on 29.08.2024. This is an effort of Government of India to provide a single window access to every woman, irrespective of her work status, whether working in organised or unorganised, private or public sector, to facilitate the registration of complaint related to sexual harassment.
- Under Maternity Benefit (Amendment) Act, 2017, Section 11(a) stipulates that every establishment having fifty or more employees shall have the facility of creche.
● To facilitate working mothers in giving due care and protection to their children, ‘Palna’- a Centrally Sponsored Scheme was introduced w.e.f. 01 April 2022, for providing day care facilities and protection to children.

The Minister of State in the Ministry of Corporate Affairs and Minister of State in the Ministry of Road Transport and Highways, Shri Harsh Malhotra stated this in a written reply in Lok Sabha today.

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MIL OSI Asia Pacific News –
February 11, 2025

Trading venue (MIC Code)	Number of shares	Weighted average price / share, EUR*
XHEL	1,400,000	4.72
CEUX	–	–
BATE	–	–
AQEU	–	–
TQEX	–	–
Total	1,400,000	4.72

Category: Business

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