NewzIntel.com

Category: Business

  • MIL-OSI USA: Malliotakis Leads Bipartisan Legislation to Strengthen U.S. Medical & Pharmaceutical Supply Chains

    Source: United States House of Representatives – Congresswoman Nicole Malliotakis (NY-11)

    (WASHINGTON, D.C.) – Congresswoman Nicole Malliotakis introduced the Medical Supply Chain Resiliency Act alongside Rep. Brad Schneider (D-IL) and Senators  Chris Coons (D-DE), Thom Tillis (R-NC), John Cornyn (R-TX), and Michael Bennet (D-CO). This bicameral and bipartisan legislation would authorize the United States to negotiate Trusted Trade Partner Agreements, aimed at reducing barriers that discourage manufacturing in the U.S. and partner countries. These agreements would also promote regulatory cooperation and other key trade provisions.

     

    To qualify as a Trusted Trade Partner, countries must demonstrate a commitment to global health security, uphold trade agreement compliance, protect U.S. intellectual property, and take steps to reduce trade barriers while promoting sound regulatory practices. Some potential candidates include Singapore, Indonesia, Ireland, Poland, and Switzerland.

     

    The legislation aims to strengthen global medical supply chains, enhancing U.S. national security and public health while ensuring preparedness for future pandemics. It empowers the U.S. Trade Representative to negotiate Trusted Trade Partner Agreements, reducing barriers like tariffs and quotas that discourage manufacturing in the U.S. and allied nations. Additionally, it promotes regulatory cooperation and expands access to government procurement opportunities.

     

    “If COVID taught us anything it is that it’s crucial that we reduce our reliance on foreign nations, especially adversaries like Communist China, for essential lifesaving supplies such as pharmaceuticals and medical devices. Strengthening domestic production will enhance national security, ensure a stable supply of critical medications and medical equipment, and protect Americans from future disruptions,” said Rep. Nicole Malliotakis.

    “The Medical Supply Chain Resiliency Act is a critical step toward ensuring that America’s healthcare providers have reliable access to the essential supplies they need, by strengthening trade partnerships with our allies and expanding domestic manufacturing, we can enhance our nation’s preparedness for future health challenges. I’m proud to support this bipartisan effort to reinforce our medical supply chains and protect public health,” said Senator Thom Tillis.

    “During the pandemic, the U.S. faced severe shortages of medical supplies due to overreliance on foreign adversaries like China, this legislation would allow the U.S. to engage in trade negotiations with trusted allies for medical goods and services, helping ensure we’re better prepared to respond to future global health crises,” said Senator John Cornyn.

    “Life-threatening shortages of testing kits, drugs, and masks during the COVID-19 pandemic showed us just how fragile our medical supply chains are. If we are caught off-guard like we were during COVID once again, more Americans will die, working with our most trusted trading partners to make our supply chains more resilient will strengthen our response to future public health emergencies while ensuring health care providers have access to essential medical products and patients have access to life-saving care,” said Senator Chris Coons.

     

    “The Chamber strongly supports the Medical Supply Chain Resilience Act, which will strengthen supply chains for medical goods and services while bolstering manufacturing in the U.S. and among our close allies and partners. Enhancing the resilience of medical supply chains is important to both our public health and our national security,” said the U.S. Chamber of Commerce Senior Vice President for International Policy John Murphy.

     

    “The Medical Supply Chain Resiliency Act is the type of positive approach to trade America must embrace to deepen its economic partnerships with key allies. By empowering the United States Trade Representative to negotiate new agreements with trusted trade partners, the United States has the opportunity to strengthen supply chain security, support U.S. innovation and jobs, and, ultimately, improve health outcomes. It is critically important that the United States collaborate with its allies to support the public health demands of our populations and prepare to meet the challenges of the next global health emergency. NFTC applauds Senators Tillis, Coons, Cornyn, and Bennet for championing this legislation, and urges Congress to support its swift passage,” said National Foreign Trade Council (NFTC).

     

    Earlier this year, Malliotakis reintroduced the Supply Chain Security and Growth Act of 2025, bipartisan legislation that would leverage Investment Tax Credits (ITCs) to facilitate a rapid movement of critical U.S. supply chains to Puerto Rico from less desirable and unreliable locations such as China with Reps. Jimmy Panetta (CA-19), Vern Buchanan (FL-16), Nydia Velazquez (NY-07), Mike Kelly (PA-16), Mike Lawler (NY-17) and Resident Commissioner Pablo Hernandez (PR-AL).

    MIL OSI USA News –

  • MIL-OSI USA: Malliotakis Leads Bipartisan Legislation to Strengthen U.S. Medical & Pharmaceutical Supply Chains

    Source: United States House of Representatives – Congresswoman Nicole Malliotakis (NY-11)

    (WASHINGTON, D.C.) – Congresswoman Nicole Malliotakis introduced the Medical Supply Chain Resiliency Act alongside Rep. Brad Schneider (D-IL) and Senators  Chris Coons (D-DE), Thom Tillis (R-NC), John Cornyn (R-TX), and Michael Bennet (D-CO). This bicameral and bipartisan legislation would authorize the United States to negotiate Trusted Trade Partner Agreements, aimed at reducing barriers that discourage manufacturing in the U.S. and partner countries. These agreements would also promote regulatory cooperation and other key trade provisions.

     

    To qualify as a Trusted Trade Partner, countries must demonstrate a commitment to global health security, uphold trade agreement compliance, protect U.S. intellectual property, and take steps to reduce trade barriers while promoting sound regulatory practices. Some potential candidates include Singapore, Indonesia, Ireland, Poland, and Switzerland.

     

    The legislation aims to strengthen global medical supply chains, enhancing U.S. national security and public health while ensuring preparedness for future pandemics. It empowers the U.S. Trade Representative to negotiate Trusted Trade Partner Agreements, reducing barriers like tariffs and quotas that discourage manufacturing in the U.S. and allied nations. Additionally, it promotes regulatory cooperation and expands access to government procurement opportunities.

     

    “If COVID taught us anything it is that it’s crucial that we reduce our reliance on foreign nations, especially adversaries like Communist China, for essential lifesaving supplies such as pharmaceuticals and medical devices. Strengthening domestic production will enhance national security, ensure a stable supply of critical medications and medical equipment, and protect Americans from future disruptions,” said Rep. Nicole Malliotakis.

    “The Medical Supply Chain Resiliency Act is a critical step toward ensuring that America’s healthcare providers have reliable access to the essential supplies they need, by strengthening trade partnerships with our allies and expanding domestic manufacturing, we can enhance our nation’s preparedness for future health challenges. I’m proud to support this bipartisan effort to reinforce our medical supply chains and protect public health,” said Senator Thom Tillis.

    “During the pandemic, the U.S. faced severe shortages of medical supplies due to overreliance on foreign adversaries like China, this legislation would allow the U.S. to engage in trade negotiations with trusted allies for medical goods and services, helping ensure we’re better prepared to respond to future global health crises,” said Senator John Cornyn.

    “Life-threatening shortages of testing kits, drugs, and masks during the COVID-19 pandemic showed us just how fragile our medical supply chains are. If we are caught off-guard like we were during COVID once again, more Americans will die, working with our most trusted trading partners to make our supply chains more resilient will strengthen our response to future public health emergencies while ensuring health care providers have access to essential medical products and patients have access to life-saving care,” said Senator Chris Coons.

     

    “The Chamber strongly supports the Medical Supply Chain Resilience Act, which will strengthen supply chains for medical goods and services while bolstering manufacturing in the U.S. and among our close allies and partners. Enhancing the resilience of medical supply chains is important to both our public health and our national security,” said the U.S. Chamber of Commerce Senior Vice President for International Policy John Murphy.

     

    “The Medical Supply Chain Resiliency Act is the type of positive approach to trade America must embrace to deepen its economic partnerships with key allies. By empowering the United States Trade Representative to negotiate new agreements with trusted trade partners, the United States has the opportunity to strengthen supply chain security, support U.S. innovation and jobs, and, ultimately, improve health outcomes. It is critically important that the United States collaborate with its allies to support the public health demands of our populations and prepare to meet the challenges of the next global health emergency. NFTC applauds Senators Tillis, Coons, Cornyn, and Bennet for championing this legislation, and urges Congress to support its swift passage,” said National Foreign Trade Council (NFTC).

     

    Earlier this year, Malliotakis reintroduced the Supply Chain Security and Growth Act of 2025, bipartisan legislation that would leverage Investment Tax Credits (ITCs) to facilitate a rapid movement of critical U.S. supply chains to Puerto Rico from less desirable and unreliable locations such as China with Reps. Jimmy Panetta (CA-19), Vern Buchanan (FL-16), Nydia Velazquez (NY-07), Mike Kelly (PA-16), Mike Lawler (NY-17) and Resident Commissioner Pablo Hernandez (PR-AL).

    MIL OSI USA News –

  • MIL-OSI USA: Malliotakis Leads Bipartisan Legislation to Strengthen U.S. Medical & Pharmaceutical Supply Chains

    Source: United States House of Representatives – Congresswoman Nicole Malliotakis (NY-11)

    (WASHINGTON, D.C.) – Congresswoman Nicole Malliotakis introduced the Medical Supply Chain Resiliency Act alongside Rep. Brad Schneider (D-IL) and Senators  Chris Coons (D-DE), Thom Tillis (R-NC), John Cornyn (R-TX), and Michael Bennet (D-CO). This bicameral and bipartisan legislation would authorize the United States to negotiate Trusted Trade Partner Agreements, aimed at reducing barriers that discourage manufacturing in the U.S. and partner countries. These agreements would also promote regulatory cooperation and other key trade provisions.

     

    To qualify as a Trusted Trade Partner, countries must demonstrate a commitment to global health security, uphold trade agreement compliance, protect U.S. intellectual property, and take steps to reduce trade barriers while promoting sound regulatory practices. Some potential candidates include Singapore, Indonesia, Ireland, Poland, and Switzerland.

     

    The legislation aims to strengthen global medical supply chains, enhancing U.S. national security and public health while ensuring preparedness for future pandemics. It empowers the U.S. Trade Representative to negotiate Trusted Trade Partner Agreements, reducing barriers like tariffs and quotas that discourage manufacturing in the U.S. and allied nations. Additionally, it promotes regulatory cooperation and expands access to government procurement opportunities.

     

    “If COVID taught us anything it is that it’s crucial that we reduce our reliance on foreign nations, especially adversaries like Communist China, for essential lifesaving supplies such as pharmaceuticals and medical devices. Strengthening domestic production will enhance national security, ensure a stable supply of critical medications and medical equipment, and protect Americans from future disruptions,” said Rep. Nicole Malliotakis.

    “The Medical Supply Chain Resiliency Act is a critical step toward ensuring that America’s healthcare providers have reliable access to the essential supplies they need, by strengthening trade partnerships with our allies and expanding domestic manufacturing, we can enhance our nation’s preparedness for future health challenges. I’m proud to support this bipartisan effort to reinforce our medical supply chains and protect public health,” said Senator Thom Tillis.

    “During the pandemic, the U.S. faced severe shortages of medical supplies due to overreliance on foreign adversaries like China, this legislation would allow the U.S. to engage in trade negotiations with trusted allies for medical goods and services, helping ensure we’re better prepared to respond to future global health crises,” said Senator John Cornyn.

    “Life-threatening shortages of testing kits, drugs, and masks during the COVID-19 pandemic showed us just how fragile our medical supply chains are. If we are caught off-guard like we were during COVID once again, more Americans will die, working with our most trusted trading partners to make our supply chains more resilient will strengthen our response to future public health emergencies while ensuring health care providers have access to essential medical products and patients have access to life-saving care,” said Senator Chris Coons.

     

    “The Chamber strongly supports the Medical Supply Chain Resilience Act, which will strengthen supply chains for medical goods and services while bolstering manufacturing in the U.S. and among our close allies and partners. Enhancing the resilience of medical supply chains is important to both our public health and our national security,” said the U.S. Chamber of Commerce Senior Vice President for International Policy John Murphy.

     

    “The Medical Supply Chain Resiliency Act is the type of positive approach to trade America must embrace to deepen its economic partnerships with key allies. By empowering the United States Trade Representative to negotiate new agreements with trusted trade partners, the United States has the opportunity to strengthen supply chain security, support U.S. innovation and jobs, and, ultimately, improve health outcomes. It is critically important that the United States collaborate with its allies to support the public health demands of our populations and prepare to meet the challenges of the next global health emergency. NFTC applauds Senators Tillis, Coons, Cornyn, and Bennet for championing this legislation, and urges Congress to support its swift passage,” said National Foreign Trade Council (NFTC).

     

    Earlier this year, Malliotakis reintroduced the Supply Chain Security and Growth Act of 2025, bipartisan legislation that would leverage Investment Tax Credits (ITCs) to facilitate a rapid movement of critical U.S. supply chains to Puerto Rico from less desirable and unreliable locations such as China with Reps. Jimmy Panetta (CA-19), Vern Buchanan (FL-16), Nydia Velazquez (NY-07), Mike Kelly (PA-16), Mike Lawler (NY-17) and Resident Commissioner Pablo Hernandez (PR-AL).

    MIL OSI USA News –

  • MIL-OSI Canada: Speech by FCAC Commissioner Shereen Benzvy Miller for the Open Banking Expo Canada 2025

    Source: Government of Canada News

    Check against delivery. This speech has been translated in accordance with the Government of Canada’s official languages policy and edited for posting and distribution in accordance with its communications policy.

    Delivered June 17, 2025, in Toronto, Ontario

    Thank you for the invitation to speak at Open Banking Expo. It is a pleasure to be here.

    I’ll be speaking in English today, but if any of our francophone colleagues have questions or would like me to clarify anything, please don’t hesitate to come chat with me afterwards. / Je vais m’exprimer en anglais aujourd’hui, mais si les participants francophones ont des questions ou souhaitent des précisions, n’hésitez surtout pas à venir me voir par la suite.

    As you have heard, I am Commissioner of the Financial Consumer Agency of Canada, the organization responsible for implementing Canada’s Consumer-Driven Banking Framework.

    This is a new role for us. In taking it on, we build on a foundation of: 

    • deep knowledge of how the banking industry in Canada functios
    • long-lasting and ongoing partnerships and collaboration with stakeholders in the financial ecosystem
    • and our research and data-driven insights on consumers’ needs, behaviours, and expectations.

    I want to update you on progress we and our partners have made in developing a secure framework for consumer-driven banking, which will protect Canadians, foster innovation, and build consumer trust.

    I will also highlight how our approach is grounded in research and data. I want to emphasize that evidence is shaping every step we take.

    Consumer-driven banking — or “open banking” — is already part of the lives of Canadians.

    A growing number of us share our financial data online with various service providers, including the many fintechs here today.

    Canadians appreciate the growing array of products and services offered by fintechs. Thanks to these, the financial industry is more inclusive and efficient than ever.

    But …. in this generally positive picture, there is an important blemish.

    It won’t surprise you to hear that I am referring to screen-scraping. I know that for many of you, screen-scraping only touches a subset of your business.

    But we can all agree that there is a better way to share data, given the host of security, liability, and privacy risks posed by screen-scraping—both for consumers and for the financial system.

    FCAC’s research on public awareness and understanding of open banking indicates a significant preference against the use of screen-scraping.

    When Canadians were introduced to the concept of screen-scraping and given an explanation of how it works—because most were unfamiliar with it—86% stated they would rather not use it.

    This finding highlights the public’s preference for trustworthy, transparent, well-regulated methods for participating in financial transactions online, that ensure privacy, security, and control over their financial data.

    Consumer trust

    Our international research tells us that trust not only strongly influences consumers’ willingness to engage with open banking products and services, but that it’s also key to increasing financial inclusion—because consumers are more willing to share financial data when they trust the system.

    We also know from the open banking experience in the UK and Australia that good design—which emphasizes transparency, control, and ease of use—significantly increases consumers’ comfort with data sharing.

    And consumer trust is not just essential for individuals—it’s a driving force for business growth and innovation.

    A Bank of England study found that even a modest increase in consumer trust made fintechs nearly 4 times more likely to invest and participate in open banking.

    This shows that when consumers feel secure about financial innovations, businesses are more willing to invest, expand, and develop solutions that drive the future of finance.

    As for consumer protection, our research confirms that most Canadians would not trust sharing their financial data without the safeguards they are used to when dealing with regulated entities like banks, such as:

    • protection from identify theft and financial losses due to data breaches or fraud
    • and clear complaints-handling and redress mechanisms to make things right if something goes wrong.
    • It follows that success will be measured by our ability to develop a financial experience that is both seamlessly integrated and highly trusted, so it becomes part of daily life.

    The same way we no longer think twice about tapping a screen to connect with loved ones, navigate a city, or take a photo.

    We envision a future—not too far off—where consumers can securely share their financial data with trusted providers at the tap of a button, receive personalized insights in real time, and switch between services with the same ease as switching between apps.

    So, how do we build consumer trust?

    We do it by getting the foundation right.

    Foundational elements

    The foundational elements are set out in the Consumer-Driven Banking Act that came into force last year. It was an important step in reshaping the financial landscape.

    Among other things:

    • The Act authorizes FCAC to implement and oversee the Consumer-Driven Banking Framework with a focus on safeguarding consumer interests.
    • The Act also grants the Minister of Finance the authority to designate a technical standards body that will be responsible for developing secure application programming interface standards to be used by participants when sharing consumers’ financial data.
    • And the Act clarifies some of the requirements—including what is the in-scope data that can be shared between Framework participants—as creates a public registry of participants by FCAC (which are requirements that are not yet in force).

    Since the Act was adopted, my team has been working closely with the Department of Finance, with industry, and with other stakeholders.

    Along the way, we have drawn important lessons from the experience of other jurisdictions, which we aim to capitalize on.

    Technical standards and common rules

    Under the new Act, FCAC will be responsible for supervising the technical standards body, the external complaints body, and the financial service providers participating in open banking, to ensure they meet their respective obligations.

    We are also developing common rules with the Department of Finance. These will address consumer protection interests, as well as privacy, liability, security, national security, and integrity obligations.

    The common rules will ensure a consistent application of safeguards and uniformity of practice by financial service providers.

    Accreditation

    We are also working on developing an accreditation process to ensure only trusted entities can access financial data when requested by a consumer.

    Accredited entities will display a common visual identifier. Upon seeing this logo, consumers will be able to trust that they are dealing with a provider that has been authorized to participate in the open-banking ecosystem.

    We want to design a process that allows for as many participants as possible, to foster innovation, encourage competition, and promote a more inclusive financial system.

    Key desired elements of the eventual accreditation scheme have already been outlined in public policy statements.

    They include the need for participants to:

    • meet national security safeguards that align with existing financial sector frameworks such as the Retail Payment Activities Act
    • provide mandatory reporting of key information to FCAC on a regular basis
    • and demonstrate robust cybersecurity and data-protection practices, and an ability to meet common rules on consumer protection.

    Together, these elements form the foundation of a robust accreditation framework that prioritizes national security, regulatory transparency, and consumer trust.

    Consumer awareness

    FCAC is also developing a consumer awareness strategy.

    To inform the strategy, we are conducting public opinion research and collaborating with international jurisdictions that have implemented open banking, to learn from their experiences.

    One lesson we have already learned is that timely communications—about how open banking works and how it will add value—are vital.

    By timely, I mean that wide-spread promotion should ideally take place as soon as there are concrete and compelling applications by participants in the Framework.

    The awareness strategy will also be driven by the reality that most consumers have never heard of open banking.

    Our research shows that only 9% of Canadians know what it is, and awareness is especially low among seniors, lower income respondents, and women.

    Moreover, of the Canadians who have heard of open banking, few understand how it works or how it can benefit them.

    We’ll have to demystify open banking and demonstrate through real-life examples how open banking can give them more control, more choice, and more confidence in their financial lives.

    Next steps

    Today, I have discussed how the Financial Consumer Agency of Canada is moving with partners to establish the necessary foundational elements of Canada’s Consumer-Driven Banking Framework—all based on best practices and evidence-based research.

    As for the next steps, we look forward to the next round of legislative amendments being tabled in Parliament by the Minister of Finance. These will be followed by regulations.

    And to make sure that industry players understand what’s expected of them, our Agency will issue supervisory guidance.

    This guidance will reflect the Agency’s commitment to promoting understanding and compliance within the consumer-driven banking ecosystem.

    And to facilitate collaboration, we will establish an advisory committee including members from Federal, provincial, and territorial governments.

    Our goal is to deliver a modern financial ecosystem that fosters innovation, enhances Canada’s global competitiveness, protects consumers, and maintains their trust.

    Specifically, consumers must trust that they can control, edit, manage, and delete their financial information, and that they can decide when, how, and to what extent their data are shared with others.

    Together, we can develop a framework that doesn’t just open doors to innovation but opens possibilities for every Canadian to take control of their financial journey.

    My team at the Agency and I are committed and excited about what the future will bring.

    We look forward to continuing our collaboration with all of you on developing a framework that will benefit both Canadians and Canada’s financial system

    Thank you

    MIL OSI Canada News –

  • MIL-OSI: Anthem and BGO to develop purpose-built rental community in Coquitlam centre

    Source: GlobeNewswire (MIL-OSI)

    COQUITLAM, British Columbia, June 17, 2025 (GLOBE NEWSWIRE) — Anthem Properties and BGO announced today the formation of a partnership to develop a purpose-built rental, low-rise multi-family residential development on a 2-acre site located at 1184 Inlet Street, Coquitlam, BC. This marks the first joint venture between Anthem and BGO.

    The redevelopment plan for the site consists of two six-storey woodframe buildings that will include 197 homes ranging from studios to spacious three-bedroom apartments. Located adjacent to Lafarge Lake, the project will offer residents excellent access to numerous parks, Douglas College, SkyTrain and West Coast Express, along with ample retail, dining, and services at Coquitlam Centre. The Property will provide tenants with an attractive amenity offering, including dog wash stations, bike storage, parcel storage, a fitness facility, party room, outdoor playground, urban agriculture plots, and BBQ areas. The tenant package will include 3,025 SF of amenity space, 173 parking stalls and 196 storage lockers.

    “We look forward to a productive new partnership between Anthem and BGO to deliver a project that is well-positioned to meet the current market demands for well-located, low-rise rental housing in one of Metro Vancouver’s fastest growing cities,” said Jordan Carlson, Senior Vice President, Investment Group, Anthem Properties.

    “We’re excited to add to our portfolio with the launch of this new development project for our Canadian Value-Add strategy in partnership with Anthem—a highly capable and experienced developer with deep local roots,” said Chetan Baweja, Managing Director, Head of Canadian Value-Add & Separate Accounts, BGO. “1184 Inlet Street is a compelling, amenity-rich, low-rise development that aligns perfectly with our strategy—well-located, community-focused, and built for high quality sustainable living. It reflects our strong conviction in the need for low-rise purpose-built rental housing and the enduring fundamentals driving demand in Coquitlam and the Tri-Cities region.”

    The Property is designed and is expected to be 50% more energy-efficient than the 2018 BC Building Code standards, achieved through enhanced insulation, upgraded glazing, advanced air barriers, and high-performance energy-recovery ventilators.

    Construction financing and municipal approvals have been secured, and the co-owners, with Anthem acting as the Development, Construction and Property Manager, are planning to commence construction immediately. Completion is anticipated for late 2027.

    About Anthem Properties

    Founded in 1991, Anthem is a real estate development, investment and management company of 850+ people driven by creativity, passion, and direct communication. Anthem has invested in, developed or managed – alone or in partnership – more than 400 residential and commercial projects across North America. Our growing residential portfolio includes 44,000 homes that are complete, in design or under construction, from mixed-use residential to townhome, rental and single-family homes. We own, co-own, manage or have previously owned 12 million square feet of retail, industrial and office space, and our land portfolio includes more than 60 communities, spanning 9,100 acres across Canada and the United States. We are Growing Places.

    About BGO

    BGO is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BGO serves the interests of more than 750 institutional clients with approximately $86 billion USD of assets under management (as of March 31, 2025) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BGO has offices in 27 cities across thirteen countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets.

    BGO is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.

    The assets under management shown above includes real estate equity and mortgage investments managed by the BGO group of companies and their affiliates, and as of 1Q21, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment.

    For more information, please visit www.bgo.com

    MEDIA CONTACTS

    Elisha McCallum
    Vice President, Communications, Anthem Properties
    Phone: 604.488.3612 Mobile: 778.668.0185
    Email: emccallum@anthemproperties.com

    Rahim Ladha Global Head of Communications, BGO
    Email: media@bgo.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/af12d0e9-d7a1-4043-a6ef-04c55c519c45

    The MIL Network –

  • MIL-OSI: Standard Premium Finance Holdings Increases Line of Credit with First Horizon Bank to Support Ongoing Growth

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, June 17, 2025 (GLOBE NEWSWIRE) — Standard Premium Finance Holdings, Inc. (OTCQX: SPFX) (Standard Premium), a leading specialty finance company, today announced an increase to its revolving line of credit with First Horizon Bank (NYSE:FHN), a leading regional bank operating in 12 states across the southern U.S. The amendment raises Standard Premium’s borrowing capacity from $45 million to $50 million, supporting the Company’s strategic growth trajectory.

    “Standard Premium has consistently demonstrated strong performance and thoughtful leadership in a dynamic market,” said Jake McCrary, managing director, First Horizon Bank. “First Horizon has maintained a strong relationship with Standard Premium since it became a client in 2021.”

    The amended line of credit, effective since May 21, 2025, marks the fourth modification to the loan agreement since its inception in 2021. The increased commitment comes at a pivotal time for the Company, which continues to see rising demand for flexible premium financing solutions amid record breaking growth, including a 24.9% year-over-year revenue increase. Additionally, net income surged 84.1% in FY 2024, while loan originations rose 14%. In Q1 2025, earnings per share increased 230% as the Company improved profitability and reduced operating expenses by 7.8% year-over-year.

    “This expanded line of credit positions us to meet growing demand, invest in innovation and better serve our customers across the country,” says William Koppelmann, CEO, Standard Premium. “We appreciate the continued support of First Horizon Bank, who understands our commitment to meaningful growth objectives.”

    About Standard Premium Finance Holdings, Inc.
    Standard Premium Finance Holdings, Inc. (OTCQX: SPFX), is a specialty finance company which has financed premiums on over $2 Billion of property and casualty insurance policies since 1991. We currently operate in 38 states and are seeking M&A opportunities of synergistic businesses to leverage economies of scale. https://www.standardpremium.com/ 

    Cautionary Statement Regarding Forward-Looking Statements
    This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended with regard to our anticipated future growth and outlook. Our actual results may differ from expectations presented or implied herein and, consequently, you should not rely on these forward-looking statements as predictions of future events. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in our expectations or any change in events, conditions or results.

    Additional information concerning risk factors relating to our business is contained in Item 1A Risk Factors of our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 10, 2025 which is available on the SEC’s website at www.sec.gov or on the Investor Relations section of our website, standardpremium.com.

    Media:
    Nicholas Turchiano
    CPR Marketing
    nturchiano@cpronline.com
    201-641-1911×35

    The MIL Network –

  • MIL-OSI: BitLyft Founder and CEO Named 2025 Security Business Innovator

    Source: GlobeNewswire (MIL-OSI)

    ST. JOHNS, Mich., June 17, 2025 (GLOBE NEWSWIRE) — BitLyft, a leading managed detection and response provider (MDR) offering a holistic defense approach, announces that Jason Miller, Founder & CEO, has been named to the Security Business Innovator Awards from Security Business, Security Technology Executive, and SecurityInfoWatch media outlets. These awards honor visionary individuals, as chosen by peers, across the spectrum of the security industry, including integrators, consultants, end-users, and manufacturers. Jason was selected for his vision, technical acumen, and relentless commitment to protecting organizations from cyber threats.

    “This award is definitely an honor not just for me, but for the entire BitLyft team who are committed to helping clients combat sophisticated cyberattacks through cutting edge technology and services,” says Jason Miller, CEO, BitLyft.

    “Innovation and advancements in technology are crucial for ensuring that new products, solutions and services can be developed, implemented and managed,” explains SecurityInfoWatch Editorial Director Steve Lasky. “The Security Innovator Awards emphasize applauding innovation and reward those individuals who demonstrate an outstanding level of excellence within our vital and constantly evolving industry.”

    Under Jason’s leadership, BitLyft remains at the cutting edge of security technology. The company consistently refines its platform to incorporate leading edge technologies like artificial intelligence, predictive analytics, geo-blocking, and others. BitLyft’s solutions, designed to help secure small to mid-sized enterprises, are scalable, cost-effective, and easily deployed.

    Jason’s expertise in cybersecurity extends to incident response and threat intelligence. He has played a pivotal role in helping organizations navigate complex cyber incidents, minimizing damage, and ensuring swift recovery. BitLyft’s advanced threat intelligence capabilities have provided businesses with actionable insights to stay ahead of cyber adversaries.

    Beyond technology, Jason Miller has dedicated himself to raising cybersecurity awareness and fostering a culture of security consciousness. He actively engages with industry professionals, business leaders, and government agencies to promote best practices and cybersecurity literacy. Through thought leadership, webinars, podcasts, and educational initiatives, Jason has significantly strengthened the overall cybersecurity posture of organizations across various sectors.

    About BitLyft

    BitLyft enables utilities and corporations to meet regulatory and audit mandates for SOC2 Compliance. The venture’s managed detection and response (MDR) services with an Automated Incident Response (AIR) platform can be implemented cost-effectively and quickly. Prioritizing tech-powered yet high-touch cybersecurity solutions creates a holistic defense, giving clients unwavering confidence; BitLyft staff pledge to prioritize and protect every client. For more information, visit www.bitlyft.com.

    For More Information, Contact:
    Becky Boyd
    MediaFirst
    Cell: (404) 421-8497
    Becky@MediaFirst.Net

    The MIL Network –

  • MIL-OSI: Kajeet Announces Leadership Transition to Drive Future Growth

    Source: GlobeNewswire (MIL-OSI)

    MCLEAN, Va., June 17, 2025 (GLOBE NEWSWIRE) — Kajeet®, a leading provider of secure, reliable, and flexible IoT connectivity solutions, today announced a strategic leadership transition to propel the company into its next phase of innovation and growth. Ben Weintraub, who has served as CEO, will step down from his role and continue to contribute as a member of the Board of Directors. Rob Adams, current Chairman, will assume the role of CEO, and Landon Garner, Chief Marketing Officer, will take on the newly created role of President, overseeing all go-to-market strategy and efforts.

    Under Weintraub’s distinguished leadership, Kajeet has grown into a trusted partner for thousands of organizations across education, healthcare, transportation, CSPs, government, and IoT, delivering reliable connectivity, advanced security, and the Sentinel® platform for real-time management. This transition aligns with Kajeet’s recently showcased brand refresh, signaling a dynamic approach to connecting critical applications in an increasingly AI-driven world.

    “Leading Kajeet for the past 22 years has been an extraordinary privilege,” said Ben Weintraub. “I am incredibly proud of the company we’ve built and the impact we’ve made. The time is right for this evolution, and I have complete confidence that Rob and Landon are the ideal leaders to guide Kajeet to even greater heights. I eagerly anticipate supporting their vision and the company’s continued success as a board member.”

    Rob Adams, who brings a wealth of experience from executive leadership roles at innovative technology companies such as RacoWireless and TruSense, steps into the CEO role poised to drive significant market expansion. “Ben’s legacy is a powerful springboard for Kajeet’s future,” said Adams. “I am thrilled to lead this talented team as we build upon that strong foundation. We will intensify our investment in our people and harness emerging technologies, especially AI, to redefine what’s possible and deliver exceptional value to our customers.”

    As President, Landon Garner will lead Kajeet’s commercial strategy, sales, marketing, and customer success, using his 15 years of IoT expertise to fuel the company’s growth. With a proven track record of building high-growth organizations, Landon has held executive roles at industry leaders such as KORE, Ingenu, Taoglas, and Integron, where he played a key role in multiple successful exits and fundraisers. Notably, as CMO of KORE, he was instrumental in guiding the company to a public listing on the NYSE. His strategic vision and deep industry knowledge will be pivotal in expanding Kajeet’s market presence.

    “I am honored to take on the role of President at such a pivotal moment for Kajeet,” said Landon Garner. “With our refreshed brand, cutting-edge AI initiatives, and a clear go-to-market strategy, we are exceptionally well-positioned to empower our customers and partners. I look forward to working closely with Rob and the entire Kajeet team to execute our vision.”

    This leadership evolution underscores Kajeet’s commitment to agility, a people-first culture, and an AI-forward strategy. The company is dedicated to bridging the digital divide and transforming connectivity into inspired, intelligent solutions that power the future.

    For more information visit https://www.kajeet.com/leadership

    About Kajeet

    Kajeet provides optimized IoT connectivity, software, and hardware solutions that deliver safe, reliable, and controlled internet access to nearly 3,000 organizations worldwide. With 20+ years of experience, Kajeet’s Sentinel platform, multi-network flexibility, and advanced security empower education, healthcare, transportation, and IoT sectors to thrive. Learn more at kajeet.com.

    Media & Analyst Contact:

    Linda Jennings, Director of Corporate Communications

    ljennings@kajeet.com

    248-521-3606

    The MIL Network –

  • MIL-OSI: Double Deposit Bonus. 100x Leverage. No KYC. Crypto Futures Trading for Everyone on BexBack.

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, June 17, 2025 (GLOBE NEWSWIRE) — As Bitcoin returns to around $105K, the cryptocurrency market is once again in high volatility. Experienced traders know that the real opportunity lies not in holding, but in leveraged futures trading.

    In high-volatility conditions like these, spot traders often struggle to generate short-term profits. That’s why more and more investors are turning to 100x leverage crypto futures to amplify gains and capitalize on market swings.

    BexBack Exchange is at the forefront of this shift, offering powerful tools and unmatched promotions to help users seize the moment. The platform now features:

    Why Trade with 100x Leverage?

    1. Amplified Profits – Control large positions with a small capital base, turning small moves into major wins.
    2. Low Entry Barrier – Enter high-value trades without locking up massive funds.
    3. Trade Volatility with Precision – Profit in both bullish and bearish markets.
    4. Maximize Capital Efficiency – Free up your assets for multiple strategies.
    5. Profit in Any Direction – Long or short, leveraged futures let you adapt instantly.

    What Is 100x Leverage — and Why It Works

    Imagine BTC is at $100,000.
    You go long with 1 BTC using 100x leverage — meaning you’re trading as if you had 100 BTC.
    If BTC rises just 5%, to $105,000, you gain 5 BTC in profit — a 500% ROI.

    And with BexBack’s 100% deposit bonus, if you started with 2 BTC, your margin becomes 4 BTC. That 5% move would now return up to 10 BTC — a 1000% ROI.
    (Note: While leverage multiplies gains, it also increases risk. Manage carefully.)

    How the 100% Deposit Bonus Works

    • Bonus is automatically credited after your qualifying deposit.
    • It can’t be withdrawn directly — but can be used to increase position size or reduce liquidation risk.
    • Works as “extra margin” in volatile markets — helping you stay in the trade longer.

    Why More Traders Are Switching to BexBack

    BexBack is licensed as a U.S. MSB (Money Services Business) and serves over 500,000 users across North America, Europe, and Asia. Unlike many competitors, BexBack removes friction — with no identity checks and instant onboarding.

    Platform Highlights:

    • No KYC Required – Start trading instantly with just an email
    • 100% Deposit Bonus – Double your capital instantly
    • 100x Leverage – Maximize your trading power
    • Zero Slippage & No Spread – What you see is what you get
    • 10 BTC Demo Account – Practice risk-free before going live
    • Web + Mobile Support – Trade anywhere, anytime
    • 24/7 Global Support – Professional customer service at your side
    • Affiliate Program – Earn up to 50% commission as a BexBack partner

    Are you ready to make money?

    Missed the last crypto wave? Don’t miss this one.

    With 100x leverage, up to $50 welcome bonus, and no KYC, BexBack lets you trade faster, smarter, and with full control.

    The next bull run doesn’t wait — why should you?

    Sign Up Now on BexBack — Break the 100x Leverage and KYC Barriers, Get Double Deposit Bonus and $50 Welcome Bonus Instantly.

    Website: www.bexback.com

    Contact: business@bexback.com

    Contact:
    Amanda
    business@bexback.com

    Disclaimer: This content is provided by BexBack. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/c4b520d3-e7a6-4d16-9830-6a16a53ba7f7

    https://www.globenewswire.com/NewsRoom/AttachmentNg/e74a667b-491f-4a37-a559-d2305b0a5b42

    https://www.globenewswire.com/NewsRoom/AttachmentNg/2276ba74-58f3-42ec-892b-86f18f7511e5

    https://www.globenewswire.com/NewsRoom/AttachmentNg/e0f4d47b-304c-44f7-a8d7-73403c1de0d8

    The MIL Network –

  • MIL-OSI: Kommunitas Announces Strategic Migration of $KOM Token to BNB Chain, Positioning Platform for Next Phase of Growth

    Source: GlobeNewswire (MIL-OSI)

    Leading tier-less launchpad makes strategic move to enhance user experience and expand ecosystem opportunities

    JAKARTA, Indonesia, June 17, 2025 (GLOBE NEWSWIRE) — Kommunitas, the pioneering decentralized launchpad revolutionizing Web3 fundraising, today announced the strategic migration of its native $KOM token from Polygon and Arbitrum networks to BNB Chain. This calculated move represents a significant milestone in the company’s evolution, designed to deliver enhanced performance, reduced costs, and expanded opportunities for its global community.

    Strategic Migration Addresses Market Demands

    The decision to migrate to BNB Chain comes as Kommunitas experiences unprecedented growth in user adoption and project launches. BNB Chain’s proven infrastructure offers the scalability and efficiency required to support Kommunitas’ expanding ecosystem while providing users with substantially lower transaction fees and faster processing times.

    “This migration represents a pivotal moment in Kommunitas’ journey,” said Robby Jeo, CEO of Kommunitas. “BNB Chain provides the robust infrastructure we need to scale our operations while delivering the seamless user experience our community deserves. This strategic alignment positions us to better serve both project founders and investors in the rapidly evolving Web3 landscape.”

    Enhanced User Benefits and Market Access

    The migration to BNB Chain will deliver immediate benefits to $KOM token holders and platform users, including:

    • Significantly reduced transaction costs through BNB Chain’s efficient fee structure
    • Faster transaction confirmations and improved network performance
    • Access to BNB Chain’s extensive DeFi ecosystem, including integration with major decentralized exchanges
    • Enhanced liquidity opportunities through connection to one of crypto’s most active trading environments
    • Continued participation in Kommunitas’ IDO launches and governance mechanisms

    Industry-Leading Infrastructure Partnership

    BNB Chain’s selection as Kommunitas’ new home network reflects the platform’s commitment to partnering with industry leaders. As one of the blockchain sector’s most established and well-supported ecosystems, BNB Chain provides Kommunitas with access to advanced technical resources, strategic partnership opportunities, and visibility within Binance’s extensive network.

    The migration also aligns with Kommunitas’ mission to democratize access to early-stage investment opportunities by reducing barriers and improving accessibility for users worldwide.

    Seamless Transition Process

    Kommunitas will provide comprehensive migration support to ensure a smooth transition for all token holders. Detailed migration guides and step-by-step instructions will be released in the coming weeks, with the technical team available to assist users throughout the process.

    The company emphasizes its commitment to maintaining continuity of service during the migration period, ensuring uninterrupted access to platform features and ongoing IDO opportunities.

    About Kommunitas

    Founded as the world’s first tier-less launchpad, Kommunitas is transforming how blockchain projects raise capital and engage with investors. By eliminating traditional tier-based systems that favor large investors, Kommunitas creates equal opportunities for all participants to access early-stage crypto investments. The platform supports multi-chain project launches and emphasizes transparency, innovation, and community empowerment in all operations.

    Kommunitas has successfully launched numerous high-potential blockchain projects, establishing itself as a trusted bridge between innovative startups and global investment communities. The platform’s commitment to democratizing decentralized fundraising continues to drive its product development and strategic partnerships.

    Forward-Looking Statements

    This press release contains forward-looking statements regarding Kommunitas’ strategic plans, expected benefits of the BNB Chain migration, and anticipated market developments. These statements are based on current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially.

    Contact Information:
    Robbie Jeo, CEO
    Email: bizdev@kommunitas.net

    Disclaimer: This content is provided by Kommunitas. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/171158ea-076f-4e4a-8887-c2c35ace974c

    The MIL Network –

  • MIL-OSI: ReconAfrica Announces Closing of C$19 Million Underwritten Offering, Including the Full Exercise of the Over-Allotment Option

    Source: GlobeNewswire (MIL-OSI)

    **NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES**

    CALGARY, Alberta, June 17, 2025 (GLOBE NEWSWIRE) — Reconnaissance Energy Africa Ltd. (the “Company” or “ReconAfrica”) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC) is pleased to announce that it has completed its previously announced and upsized underwritten public offering (the “Offering”) of units of the Company (the “Units”) at a price of C$0.50 per Unit, including the full exercise of the over-allotment option, for aggregate gross proceeds of approximately C$19 million.

    The Offering was led by Research Capital Corporation as the lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters, including Canaccord Genuity Corp. and Haywood Securities Inc. (collectively, the “Underwriters”).

    BW Energy Limited (“BW Energy”) (OSE: BWE), directors and management of ReconAfrica and certain other investors, participated in the Offering for approximately C$4.7 million. The Units purchased by BW Energy are subject to a six-month lock-up agreement.

    Each Unit is comprised of one common share of the Company (“Common Share”) and one Common Share purchase warrant of the Company (“Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of C$0.60‎ until June 17, 2027. The Warrants will commence trading on the TSX Venture Exchange (“TSXV”) under the symbol “RECO.WT.A” on or about June 24, 2025, subject to final TSXV acceptance.

    The net proceeds from the Offering will be used for exploration activities, working capital and general corporate purposes. The primary exploration activity to be funded with net proceeds from the Offering will be the drilling of Prospect I, which has been named the Kavango West 1X well. Work on the access road and drill site is currently being completed while the Company awaits receipt of the remaining requisite permits. The rig mobilization to the Kavango West 1X location is scheduled in late June, with drilling to begin thereafter.

    Kavango West 1X – High Potential Exploration Well

    The Kavango West 1X exploration well will be the second test in the expansive Damara Fold Belt play. The prospect is a large fold identified on modern 2D seismic data which extends over 20 kilometers long by 5 kilometers wide and is expected to penetrate a thick Otavi carbonate reservoir section, which is the primary target in the play. The Kavango West 1X well will be drilled to a planned total depth of approximately 3,800 metres (12,500 feet) and is targeting 346 million barrels of gross unrisked (30 million barrels of gross risked) prospective light/medium crude oil resources on a 100% working interest basis, 312 million barrels(1,2) net unrisked (27 million barrels net risked) to ReconAfrica’s 90% working interest as at the date of the NSAI report or 1,839 billion cubic feet of gross unrisked (133 Bcf risked) prospective natural gas resources on 100% working interest basis, 1,655 billion cubic feet(1,2) unrisked net (120 Bcf net risked) to ReconAfrica’s 90% working interest as at the date of the NSAI report), based on the most recent prospective resources report prepared by Netherland, Sewell & Associates, Inc. (“NSAI”) as at December 31, 2024, filed on SEDAR+ at www.sedarplus.ca (the “NSAI Report”)(1)(2).

    Damara Fold Belt Play Across 11.5 Million Acres in Namibia and Angola

    The Damara fold belt trend is identified in the subsurface by a grid of 2D seismic data, and the Company has mapped 19 prospects and 4 leads on the Namibia side of the play. The Namibia area is estimated to hold 2.6 billion barrels(1,2) of unrisked prospective light/medium crude oil resources and 157 million barrels(1,2) of risked prospective light/medium crude oil resources from the Damara Fold Belt play prospects on PEL 73.

    1. There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources. Prospective resources are those quantities of oil estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery and a chance of development. Prospective resources are the arithmetic sum of multiple probability distributions. Unrisked prospective resources are estimates of the volumes that could reasonably be expected to be recovered in the event of the discovery and development of these prospects.
    2. Not reflective of ReconAfrica’s current working interest of 70% of PEL 73.

    Recently, the Company has entered a Memorandum of Understanding (MOU) with National Agency for Petroleum, Gas and Biofuels of Angola (ANPG) ‎for a joint exploration project in the Etosha-Okavango basin, located onshore in southeastern Angola. This agreement is a strategic addition to the Company’s asset portfolio, which creates an opportunity for early entry into onshore Angola at a low cost, with minimal work commitments. It complements ReconAfrica’s activities in Namibia and highlights the potential of the Damara Fold Belt and Rift Basin by adding 5.2 million contiguous acres in Angola to the existing 6.3 million acres in Namibia in the Damara Fold Belt and Rift Basin exploration plays.

     
    Damara Fold Belt (Namibia)
    Best Estimate (2U) Prospective Light & Medium Crude Oil Resources (MMbbl)‎(1)(2)(3)
     
        Unrisked
    		   Risked
                             
                             
    Play Area/Subclass   Gross
    (100%)    		   Company
    Gross    (1)(2)(3)    		   Net(1)(2)(3)   Gross
    (100%)    		   Company
    Gross    (1)(2)(3)    		   Net(1)(2)(3)
    Damara                        
    Prospects   2,566.1   2,309.5   2,194.0   156.5   140.9   133.8
    Leads   123.2   110.9   105.3   4.1   3.7   3.5
                             

    Notes:

    1. The “Company Gross” and “Net” figures in the table above are as set out in the Resource Report (as defined below) and have not been adjusted for the 20% working interest acquired by BW Energy from ReconAfrica pursuant to the strategic farm down that closed January 29, 2025. As of December 31, 2024 (and the effective date of the Resource Report, ReconAfrica owned a 90% working interest in PEL 73. ‎As of the date hereof, ReconAfrica holds a 70% working interest in PEL 73 (with BW Energy Limited holding a 20% working interest and the National Petroleum Corporation of Namibia ‎‎holding a ‎‎10% carried participating interest). “Net” includes a 5% deduction for royalties.
    2. ReconAfrica engaged Netherland, Sewell & Associates, Inc. (“NSAI”), an independent qualified reserves ‎evaluator, to provide an updated prospective resource report ‎dated March 26, 2025 (with an effective ‎date of December 31, 2024) relating to the Company’s prospective resources (the “Resource Report”). ‎The ‎Resource Report focused solely on the Company’s interest in certain prospects and leads located in ‎the Damara Fold and Thrust Belt (Damara) play area and the Karoo Rift play area of PEL 73‎. ‎The preparation date of the Updated Report is ‎January 1‎, 2025. Prospective resources are the arithmetic sum of multiple probability distributions‎. See “Disclosure of Oil and Gas Information” for further information.
    3. There is no certainty that any portion of the prospective resources will be discovered. If they are ‎discovered, there is no certainty that it will be commercially viable to develop and produce any portion of ‎the prospective resources.‎

    Additional Details on the Offering

    The Offering was completed by way of a prospectus supplement to the Company’s short form base shelf prospectus dated February 29, 2024, filed in all of the provinces and territories of Canada, and the Units were sold outside of Canada on a private placement basis. Copies of the prospectus supplement and the base shelf prospectus are available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

    Directors and officers of the Company participated in the Offering and were issued an aggregate of 687,400 Units. Such participation in the Offering constitutes a “related party transaction” as defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“61-101”). The Offering is exempt from the formal valuation and minority shareholder approval requirements of 61-101 as neither the fair market value of the securities issued to related parties nor the consideration for such securities exceed 25% of the Company’s market capitalization. The Company did not file a material change report 21 days prior to closing of the Offering as the participation of insiders of the Company in the Offering had not been confirmed at that time and the shorter time period was necessary in order to permit the Company to close the Offering in a timeframe consistent with usual market practice for transactions of this nature.

    The Underwriters received a cash commission equal to 7.0% of the gross proceeds of the Offering (other than from the sale of Units to BW Energy and purchasers on the president’s list, for which a 3.0% cash commission was paid), for an aggregate of C$1,124,936. In addition, the Underwriters were issued an aggregate of 2,124,472 broker warrants (the “Broker Warrants”), equal to 7.0% of the number of Units sold under the Offering (other than with respect to those sold to BW Energy and purchasers on the president’s list, for which no Broker Warrants were issued). In addition, the Underwriters received an advisory fee of C$95,000 (plus GST) and 121,380 advisory broker warrants on the same terms as the Broker Warrants. Each Broker Warrant entitles the holder to acquire one Common Share at a price of C$0.50 until June 17, 2027.

    This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the U.S. Securities Act and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

    TSXV Final Approval of Certain Warrant Extensions

    The TSXV has approved the application for extension of certain previously issued unlisted warrants announced by the Company in a news release on May 21, 2025. The warrants with an original expiry date of September 1, 2025, and an exercise price of C$1.40 per Common Share will be extended to March 1, 2027. The warrants with an original expiry date of July 18, 2025, and an exercise price of C$1.35 per Common Share will be extended to January 18, 2027. Warrant holders will not have to take any action in connection with the extensions. The exercise prices remain unchanged.

    About BW Energy

    BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block in, a 95% interest in the Maromba field in Brazil and a 95% interest in the Kudu field in Namibia, all operated by BW Energy.

    BW Energy, 74% owned by BW Group Ltd., was created as the E&P arm of Oslo listed BW Offshore, a company with more than four decades of experience in operating advanced offshore production solutions and executing complex projects. Since its origin, BW Offshore has executed 40 FPSO and FSO projects.

    About ReconAfrica

    ReconAfrica is a Canadian oil and gas company engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeastern Namibia, southeastern Angola and northwestern Botswana, where the Company holds petroleum licences comprising ~13 million contiguous acres. In all aspects of its operations, ReconAfrica is committed to minimal disturbance of habitat in line with international standards and implementing environmental and social best practices in its project areas.

    Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

    For further information contact:
    Brian Reinsborough, President and Chief Executive Officer
    Mark Friesen, Managing Director, Investor Relations & Capital Markets

    Email: admin@reconafrica.com
    IR Inquiries Email: investors@reconafrica.com
    Media Inquiries Email: media@reconafrica.com

    Tel: +1-877-631-1160

    Cautionary Note Regarding Forward-Looking Statements:

    Certain statements contained in this press release constitute forward-looking information under applicable Canadian, United States and other applicable securities laws, rules and regulations, including, without limitation, statements with respect to the expected use of proceeds from the Offering, the anticipated listing of the Warrants on the TSXV, spudding of the Kavango West 1X well following final completion of the access road and drill site preparation, receipt of all required permits and the rig being moved to the drilling location, which has been scheduled for late June 2025, the well being drilled to a planned total depth of approximately 3,800 metres (12,500 feet) and targeting 255 million barrels of unrisked prospective oil resources or 1,350 billion cubic feet of unrisked prospective natural gas resources, and the Company’s commitment to minimal disturbance of habitat, in line with best international standards and its implementation of environmental and social best practices in its project areas. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on ReconAfrica’s current belief or assumptions as to the outcome and timing of such future events. There can be no assurance that such statements will prove to be accurate, as the Company’s actual results and future events could differ materially from those anticipated in these forward-looking statements as a result of the factors discussed in the “Risk Factors” section in the Company’s annual information form (“AIF”) dated April 29, 2025 for the financial period ended December 31, 2024, available under the Company’s profile at www.sedarplus.ca. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to ReconAfrica. The forward-looking information contained in this release is made as of the date hereof and ReconAfrica undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

    Disclosure of Oil and Gas Information:

    The Resource Report and the prospective resource estimates contained therein and in this press release were prepared by NSAI, an independent qualified reserves evaluator. The Resource Report was prepared in accordance with the definitions and guidelines of the Canadian Oil and Gas Evaluation Handbook maintained by the Society of Petroleum Evaluation Engineers (Calgary Chapter)‎ and National Instrument 51-101 — Standards of Disclosure for Oil and Gas Activities.

    Prospective resources are those quantities of petroleum estimated, as of a given date, to be potentially ‎recoverable from undiscovered accumulations by applying future development projects. Prospective ‎resources have both an associated chance of discovery and a chance of development. Prospective ‎resources are further categorized according to the level of certainty associated with recoverable ‎estimates assuming their discovery and development and may be subclassified based on project ‎maturity. The prospective resources included in Resource Report and in this press release should not be construed as reserves or ‎contingent resources; they represent exploration opportunities and quantify the development potential in ‎the event a petroleum discovery is made. A geologic risk assessment was performed for these ‎prospects and leads, as discussed in the Form 51-101F1 — Statement of Reserves Data and Other Oil and Gas Information (“Form 51-101F1”) dated April 29, 2025 and effective as of December 31, 2024‎, available under the Company’s profile at www.sedarplus.ca. The Resource Report is also available under the Company’s profile at www.sedarplus.ca

    The Resource Report does not include ‎economic analysis for these prospects and leads. Based on analogous field developments, it appears ‎that, assuming a discovery is made, the unrisked best estimate prospective resources in the Resource ‎Report have a reasonable chance of being economically viable. There is no certainty that any portion of ‎the prospective resources will be discovered. If they are discovered, there is no certainty that it will be ‎commercially viable to develop and produce any portion of the prospective resources.‎

    For additional information concerning the risks and the level of uncertainty associated with recovery of the prospective resources detailed herein and in the Resource Report, the significant positive and negative factors relevant to the prospective resources estimates detailed herein and in the Resource Report and a description of the project to which the prospective resources estimates detailed herein and in the Resource Report applies are contained within the Form 51-101F1.

    The prospective resources shown herein and in the Resource Report have been estimated using probabilistic methods and are dependent on a petroleum discovery being made. If a discovery is made and development is undertaken, the probability that the recoverable volumes will equal or exceed the unrisked estimated amounts is 90 percent for the low estimate, 50 percent for the best estimate, and 10 percent for the high estimate. Low estimate and high estimate prospective resources have not been included in the Resource Report. For the purposes of the Resource Report, the volumes and parameters associated with the best estimate scenario of prospective resources are referred to as 2U. The 2U prospective resources have been aggregated beyond the prospect and lead level by arithmetic summation; therefore, these totals do not include the portfolio effect that might result from statistical aggregation. Statistical principles indicate that the arithmetic sums of multiple estimates may be misleading as to the volumes that may actually be recovered.

    The MIL Network –

  • MIL-OSI NGOs: South Asia celebrates World Ocean Day in solidarity with impacted communities from the Kerala shipwreck disaster

    Source: Greenpeace Statement –

    8th June, 2025. Greenpeace India marked World Oceans Day 2025 with a powerful celebration at Chandrabhaga Beach in Konark, Odisha, where stunning sand art featuring a majestic turtle took centre stage to highlight the critical role the ocean plays in sustaining biodiversity, regulating the climate, and supporting coastal communities. The action also comes in solidarity with the Kerala population and the urgent need for transparency, cleanup and accountability in response to the late shipwreck accident and its ongoing consequences.

    This year, World Ocean Day precedes the opening of the United Ocean Conference, from 9th to 13th June in France, where world leaders will convene to discuss their commitments for the protection of the global ocean. In the meantime, the dramatic impacts of the recent MSC ELSA 3 shipwreck offshore Kerala (on May 25th) keep unfolding with fuel and hazardous cargo threats looming at sea, while broken containers of unknown cargo and insane amounts of plastic pellets have been washing ashore in Kerala and Tamil Nadu, India — amid monsoon weather conditions impeding initial environmental assessment and clean-up initiatives. Just 4 years after the X-Press Pearl disaster in Sri Lanka, the region’s marine life, unique coastal ecosystems, and fisher communities are facing yet another shipping disaster with lasting consequences, of which the scale remains to be fully understood.

    “What exactly was in the containers, and who will be held accountable for the damage to marine biodiversity and fragile ocean ecosystems, as well as the loss of coastal livelihoods and the harm to the local economy ?” said ocean conservationist and founder of Friends of Marine Life, Robert Panipilla. “We are calling on local authorities and the MSC company to release the full cargo manifest of the MSC ELSA 3. The people in South India have the right to know and expect a detailed statement on the circumstances of the accident, as well as a comprehensive clean-up and compensation plan from MSC, who have not yet communicated two weeks after the shipwreck. When the decarbonization of the shipping industry and global plastics pollution are discussed at the UN Ocean Conference, major profitable shipping companies such as MSC can no longer shy away from their responsibility in such disasters, whereas marine life is choking on plastic pellets and fishing communities are being starved out,” added Amruta S. N., Campaigner at Greenpeace India.

    In Solidarity, Greenpeace deployed a documentation team in Kerala straight after the disaster — and this past week the organisation has run several activities with ocean stakeholders, youth groups, and fisherfolks to convey the same message across the region: “One Ocean, Many Lives” in Khulna, Bangladesh; Galle and Colombo, in Sri Lanka; and Odisha and Chennai, in India.

    “With these events to celebrate World Ocean Day, we also want to deliver a joint message of hope together with our partners across the region. We demand our leaders quickly ratify the global High Seas Treaty to protect 30% of our oceans [1], as well as listen to the voice of small-scale fishers and the wisdom of coastal communities for the sustainable management of coastal resources and bottom-up profits to the local economies,” says Anita Perera, Campaigner at Greenpeace South Asia.

    Media Contacts:

    Nibedita Saha
    Media Officer at Greenpeace India
    Phone: +91 7045066118
    Email: [email protected]

    Amruta S. N., Campaigner at Greenpeace India
    Phone: +918304010458
    Email: [email protected]

    Anita Perera, Campaigner at Greenpeace South Asia – Sri Lanka
    Phone: +94773925597
    Email: [email protected]

    Greenpeace media statement following the Kerala shipwreck disaster:
    https://www.greenpeace.org/india/en/story/18544/greenpeace-india-statement-on-hazardous-cargo-ship-sinking-off-kerala-coast/

    [1] In 2022, during the UN Biodiversity COP15, states agreed on a target of protecting at least 30% of the ocean by 2030, a figure supported by scientists for several years. 2.7% of the global ocean is currently fully or highly protected from human activities, and the figure is just 0.9% for areas of the high seas, which are beyond national jurisdiction. 

    MIL OSI NGO –

  • MIL-OSI Russia: The Moscow Transport Advanced Development Center has turned 1 year old.

    Translation. Region: Russian Federal

    During this time, the technological and comfortable space has become a place where the transport of the future is created.

    The Center’s specialists successfully:

    The first unmanned tram in Russia has been launched. This fall, it will begin to operate regularly on a route with passengers.

    We have begun preparations for the launch of an unmanned metro train. At the first stage, which is planned for 2025, we will study the process of movement, stops, as well as opening and closing doors.

    We have developed technology for an unmanned police boat that will be able to automatically record violations on Moscow rivers.

    The first ticket systems laboratory in Russia tested automatic activation of online replenishment of the Troika and Muscovite cards, as well as the virtual Troika.

    “In May 2024, Moscow Mayor Sergei Sobyanin opened the Center for Advanced Development in the Kuntsevo district. Here, professionals with experience in leading Russian and international companies are implementing the most modern innovations in urban transport. The center has become not only an IT cluster for breakthrough projects, but also an adornment of the district, a place where you can gain new knowledge and exchange experiences. Since its opening, more than 30 lectures have been held here, attended by over 1.2 thousand people. Most of the listeners were interested in the topics of creating navigation, developing passenger services, as well as the history of the capital’s transport,” added Maxim Liksutov.

    MIL OSI Russia News –

  • MIL-OSI Russia: The Moscow Transport Advanced Development Center has turned one year old!

    In just a year, this innovative and comfortable space has become a hub for creating the transport of the future.

    The Center’s specialists have successfully:

    Launched Russia’s first autonomous tram. This fall, it will begin regular passenger service on its route.

    Started preparations for the launch of a driverless metro train. The first phase, scheduled for 2025, will study the process of movement, stops, and the opening and closing of doors.

    Developed technology for a driverless police boat capable of automatically detecting violations on Moscow’s rivers.

    Tested automatic activation of online top-ups for the Troika card and the Moscow resident card, as well as the virtual Troika in Russia’s first ticketing system laboratory.

    In May 2024, Moscow Mayor Sergey Sobyanin opened the Advanced Development Center in the Kuntsevo district. Here, professionals with experience in leading Russian and international companies are introducing the latest innovations to the city’s transport system. The Center has become not only an IT cluster for breakthrough projects, but also an asset to the district — a place to gain new knowledge and exchange experience. Since its opening, more than 30 lectures have been held here, with over 1,200 participants. The most popular topics included the creation of navigation systems, the development of passenger services, and the history of the capital’s transport, — added Maksim Liksutov.

    The Center for Advanced Development is truly shaping the future of Moscow’s urban mobility!

    MIL OSI Russia News –

  • MIL-OSI: BluSky AI Inc. OTCID Designation

    Source: GlobeNewswire (MIL-OSI)

    Salt Lake City, Utah , June 17, 2025 (GLOBE NEWSWIRE) — – BluSky AI Inc. (OTC: BSAI), a next-generation developer of modular AI data center infrastructure, is pleased to announce that effective July 1, 2025, the company will be transitioning from the OTC Pink Sheets to the OTCID, a designation within the OTC Markets platform designed for entrepreneurial and growth-stage companies that meet higher reporting and compliance standards.

    This transition represents a significant milestone in BluSky AI’s commitment to transparency, regulatory compliance, and broader market visibility.

    “This upgrade is an important step forward as we strengthen investor confidence and signal our commitment to long-term growth,” said Trent D’Ambrosio, CEO of BluSky AI. “Over the past six months, we’ve made exceptional progress in scaling our operations, securing strategic partnerships, and advancing our financial and governance standards—all key drivers for enhanced market positioning.”

    The past months have marked a period of rapid advancement for BluSky AI, including:

    • Expansion of planned modular AI data center deployments
    • Strategic infrastructure partnerships
    • Launch of GPU-as-a-Service offerings for enterprise and research sectors
    • Strengthened balance sheet and financial reporting procedures

    With its new OTCID status, BluSky AI will hopefully benefit from increased credibility with investors, greater access to capital markets, and improved trading transparency, positioning the company for continued momentum and growth.

    Trent D’Ambrosio
    CEO, BluSky AI Inc.
    trentdambrosio@bluskyaidatacenters.com
    www.bluskyaidatacenters.com

    About BluSky AI Inc.
    Headquartered in Salt Lake City, Utah, BluSky AI Inc. delivers modular, rapidly deployable data center infrastructure purpose-built for artificial intelligence. These next generation scalable AI Factories provide speed-to-market, and energy optimization for entities requiring high-performance infrastructure to support machine learning workloads. BluSky AI empowers small, mid-sized, enterprise, and academic partners from start-up to scale-up to drive innovation without compromise.

    Forward-Looking Statements:

    This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties.  Forward-looking statements in this news release include statements with respect to the potential impact for the Company. There can be no assurance statements will prove to be accurate and actual results and future events could differ materially from anticipated in such statements.

    BluSky AI Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events except as required by applicable securities legislation.

    The MIL Network –

  • MIL-OSI Russia: Financial news: Parameters of REPO auctions in rubles

    Translation. Region: Russian Federal

    Source: Central Bank of Russia (2) –

    Date of the auction Type of tool Term Date of execution of the first part of the transactions Date of execution of the second part of the transactions Maximum amount of funds provided* (billion rubles) Minimum possible rate in the application (% per annum)
    06/17/2025 Basic 7 d. 06/18/2025 06/25/2025 1 020 20.00
    06/10/2025 Basic 7 d. 06/11/2025 06/18/2025 920 20.00
    03.06.2025 Basic 7 d. 06.06.2025 06/11/2025 620 21.00

    Data available from 24.06.2009 to 17.06.2025.

    * A dash (—) in the column means that the repo auction is carried out without setting a limit, all received applications, subject to compliance with other requirements established for the specified operations, are satisfied in full.

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Interview with Alexander Novak for Vedomosti newspaper

    Translation. Region: Russian Federal

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

    Alexander Novak: The main factors of economic development are within our country.

    Question: One of the key tracks of the upcoming SPIEF is: “The World Economy – a New Platform for Global Growth”. Over the past few months, the world economy has experienced not just a series of shocks, but real tectonic shifts. In your opinion, is global growth, in the context of a general movement, possible or is the world steadily moving towards regionalization?

    A. Novak: Global economic growth will continue to some extent until 2030. However, the dynamics of its growth will depend on new challenges and threats that primarily affect global trade flows. This primarily concerns the increasing economic fragmentation of global markets – when trade, investment, exchange of services and technologies are subject to the logic of “mine” and “others”. As a result, investment activity and the well-being of the world’s population are declining.

    These processes did not begin yesterday. Since the early 2000s, the economic center of the world has been shifting from the West to the East. Developing countries, primarily China, are gaining a much greater role in the global economy. Of course, this situation does not suit those who are used to dictating their terms. And we increasingly see how, in order to counteract the growing influence of developing countries on the world economy, Western countries are making active attempts to maintain the status quo on the world stage and preserve their leadership.

    As a consequence, the strengthening of protectionism in the national economy and the revision of the existing results of globalization come to the fore. The main steps in this direction were the actual destruction of the multilateral mechanisms of the WTO, unilateral tariff and non-tariff restrictions on developing countries under the pretext of “threats to national interests”, and the introduction of various sanctions against competitors.

    The current escalation of tariff restrictions is also, of course, another consequence of the confrontation between the West and the rest of the world. The desire to maintain dominant positions in the global economy is happening by “pushing” bilateral agreements instead of multilateral ones. And such steps obviously lead to a new round of regionalization, observed since 2022, and the consolidation of countries within “blocs”.

    In the current conditions, the priority for us is to ensure the implementation of the national development agenda and the construction of sustainable partnerships with friendly countries with their own infrastructure to ensure the interests of these partnerships. This concerns the economic, financial and technological sovereignty of the Russian Federation, which, in the context of involvement in global value chains, requires, first of all, a reconfiguration of foreign economic relations with trading partners.

    I would like to remind you that we took into account the trends of regionalization of the global economy when preparing the Strategy for Foreign Economic Activity adopted by the government at the beginning of last year, therefore, relations with trading partners are built and developed taking into account the influence of geo-economic fragmentation and the opportunities opening up for Russia.

    Question: One of the undisputed leaders of destabilization has become the new US tariffs, which with a high degree of probability will lead to a redrawing of trade flows. What is this primarily for Russia – a risk or an opportunity? How many percent or percentage points of Russia’s GDP can a global trade war take away?

    A. Novak: Subtract or add? No, seriously, from the point of view of forecasting, the situation in world trade is currently the largest zone of uncertainty. There are a great many development options, their implementation depends on a large number of external and internal factors.

    The world is wider than individual Western countries and their circle of partners. Most likely, the situation with trade wars will not be universal. Some commodity flows will be redirected, as usually happens in trade wars.

    At the same time, there will be no repetition of the pandemic situation, when global trade stopped and trade flows collapsed. Therefore, the baseline forecast scenario approved by the government assumes that the growth rate of global trade will slow down, but will not go into recession.

    You are right, for us there are really two sides to the coin: risks and opportunities. The risks are related to the overall slowdown of the global economy, as well as demand and prices for traditional Russian export goods. On the other hand, this is a possible reduction in logistics costs, the opening of new niches, the substitution of Russian products for goods that will leave certain markets. From the point of view of imports, risks arise for our domestic market and domestic producers.

    And yet, no matter how the situation in the world develops, the main factors of the development of the Russian economy are not outside, but inside our country. The main one, with all the importance of the proactive work of the government and the Bank of Russia, is private entrepreneurial initiative. The flexibility and adaptive capacity of national business is the key to the stability of our economy in recent years. The main task of the authorities is to develop and support these qualities in every possible way.

    However, when you think about all the changes that you said were caused by “destabilizing US tariffs,” it is important to understand that tariffs are just a tool, and the goal is not to redirect trade flows. The goal, apparently, is to return key production chains to the native territory of the United States, to return production, competencies, infrastructure. Localization of value chains is what the Trump administration wants to achieve. What level of tariffs is needed to deploy investment? This is an interesting question. I think 10-15% of the final tariff, given how many times goods cross customs borders in the modern world, will be quite enough to create incentives to redirect investment flows. And the current 50% or 100% tariffs are nothing more than a negotiating position from which negotiating tactics have begun to form.

    Question: Is the government considering measures to stimulate investment activity of Russians? Can more active attraction of citizens’ funds to the stock market help businesses solve the problem of lack of financing?

    A. Novak: Yes, of course, measures to stimulate investment activity are being taken, including, as you know, within the framework of the national project “Efficient and Competitive Economy” and the federal project “Development of the Financial Market” included in it. Also, separate support measures of the federal projects “SME” and “Technology” are aimed at the development of SMEs and small technology companies by attracting funds from the financial market, respectively.

    In the context of achieving the “May decree” indicators, our citizens have the opportunity to invest in long-term instruments. For example, one of them is the Long-Term Savings Program, LTS. It involves the state creating conditions for the formation of long-term savings, which are formed both from personal funds and from the pension savings of citizens.

    This program is a new universal savings product that will allow everyone, with the stimulating support of the state, to form capital for their priority goals. PDS is especially relevant for families seeking to provide for the future of their children, create a financial safety net, purchase housing or pay for education. Together with banks, we are trying to actively inform citizens about the availability of such programs and the opportunities they provide.

    Another tool for stimulating investment is more active attraction of citizens’ funds to the stock market, which can have a significant impact on solving the problem of lack of financing for businesses. Firstly, attracting citizens’ funds will help diversify sources of financing for businesses. This will reduce companies’ dependence on bank loans and allow them to more easily adapt to changing economic conditions.

    In addition, active participation of citizens in the stock market can contribute to increasing the financial literacy of the population. Educated investors better understand the risks and opportunities, and accordingly, they make more informed investment decisions. This, in turn, creates a healthier investment environment and promotes economic growth.

    Of course, we understand that the designated incentives will work much better with a reduction in deposit rates. This applies to interest rates on both deposits and loans. According to our estimates, a gradual, correct cooling of the economy is already underway. Citizens will eventually withdraw from deposits and consider the possibility of diversifying their savings.

    Question: What drivers do you think the capital market might have in the current geopolitical and economic conditions?

    A. Novak: There are several such incentives or drivers now. The main “driver” is macroeconomic stability. Reducing inflation expectations, consistent and predictable economic policy contribute to the growth of investor confidence in the stock and bond market.

    Controlling inflation helps reduce investment risks and increases the attractiveness of assets in the capital market.

    In the context of sanctions pressure and limited access to international financial markets, Russian companies are seeking to find new sources of financing within the country. As a result, there is demand for financial instruments such as bonds and shares, and this can contribute to the growth of the stock market. An increase in the number of issuers and an expansion of the range of financial products offered also contribute to the development of the capital market.

    The development of infrastructure for attracting investment can also be an important driver. Authorities and financial institutions can introduce new mechanisms to support business, such as tax incentives for investors, programs to improve the financial literacy of the population, and the creation of more convenient conditions for entering the stock market. This will not only increase the number of investors, but also increase their confidence in financial instruments.

    In addition, in my opinion, digitalization and the development of financial technologies, digital platforms give a significant boost to the capital market. Another plus in this regard is that digital technologies contribute to the growth of liquidity and the reduction of transaction costs.

    Question: At the recent government strategy session on the National Model of Target Conditions for Doing Business, you specifically emphasized that by 2030, Russia should be among the top 20 countries in terms of the investment climate, as assessed by the World Bank B-READY rating. This rating will be discussed at the SPIEF. What do you see as the key priorities for improving the business climate in Russia? In what aspects are there the largest “development zones” today?

    A. Novak: First of all, I would like to clarify that the World Bank’s international rating of the business and investment climate is one of the bases for the formation of the National Model of Target Conditions for Doing Business, along with Russia’s national development goals and the rating of the state of the investment climate.

    When analyzing the data of the pilot study of the business climate in Russia, conducted by the Agency for Strategic Initiatives, “development zones” were identified. Within the areas of engineering infrastructure, labor standards, taxation, dispute resolution, businesses have the most difficulties with the effectiveness of law enforcement of public services, even taking into account the well-developed regulatory framework in the country. We have formed working groups that are currently developing initiatives to improve indicators, such as reducing the number of hours for preparing and submitting tax reports. We are talking about reporting, which currently amounts to about 160 hours per year. Another example: the implementation of initiatives to develop alternative forms of dispute resolution, primarily through arbitration courts and mediation.

    The opposite situation has developed in the areas of business registration, financial services, and bankruptcy procedures. The assessment shows the need to improve regulatory and legal acts in Russian legislation. For example, such initiatives as the development and adoption of norms on restructuring, on pre-trial debt restructuring in order to reduce the period of bankruptcy of companies. In addition, norms are being discussed that change the process of asset sales and asset replacement in bankruptcy proceedings.

    Focusing, among other things, on the international rating, we plan to present the key priorities and results of the formation of the National Model at the St. Petersburg Forum; we are open and will be glad to have as many interested parties as possible participate in the discussion.

    Question: Does the government have a scenario for economic development in which sanctions against Russia are relaxed? If so, which restrictions do you think would be the most realistic to lift?

    A. Novak: Such a scenario is among many forecasts developed by the Ministry of Economic Development, but it is not the main one. The basic forecast scenario approved by the government does not include any drastic changes in terms of sanctions pressure.

    Question: Oil prices are now also under the control of geopolitics. In your opinion, can we say that we are once again entering an “era of low prices”? Is OPEC’s decision to accelerate production growth relevant in this context? Is its adjustment being discussed?

    A. Novak: Global oil prices have historically been under pressure from both political factors and the balance of supply and demand. The key factor of volatility in recent years has been the situation in the Middle East and the risks of supply restrictions through the Strait of Hormuz, as well as the ongoing recovery of the global economy and the risks associated with trade wars unleashed by the United States.

    Historically, affordable prices provoke additional demand for oil while global fuel competition continues. And in general, the world is experiencing a need for additional volumes of raw materials. We believe that OPEC objectively assesses the situation regarding the prospects for global oil demand, and we highly appreciate the competence of OPEC experts.

    As for the issue of adjustment, OPEC countries are in constant contact, monitor the market situation and are ready to respond flexibly and promptly to any changes in the market situation. If necessary, the parameters of the deal can be adjusted in the future to ensure an optimal balance between supply and demand.

    And in the short term, oil prices are always under the power of geopolitics. For example, the current aggravation of the Israeli-Iranian conflict. The key questions that good economists ask in such cases of external shocks are whether the shock is temporary (short-term) or permanent (permanent) and from which side is it – demand or supply? And from these options, the scenario and development of optimal policy occurs.

    Question: The SPIEF is planning to discuss the balance of interests of producers and consumers in the global fuel and energy market. You personally participated in the formation of the current architecture of balance, which allowed the markets to be stabilized. Today, do you see risks of disruption of the balance of supply and demand in the oil market in the medium term?

    A. Novak: The data show that in April, the demand for oil in the world was about 103.1 mbps with supply at 103.7 mbps. Given the current state of the oil market and its overall balance, as well as the traditionally high demand season in the summer, it is extremely important for each country to fulfill its obligations.

    The radical change in the external economic environment (I mean the growing sanctions pressure, the unstable geopolitical situation in the Middle East, as well as the high volatility in the global oil market) confirms that the current mechanism for implementing the agreement is the most effective tool. It ensures maximum efficiency of oil production and state revenues. Thus, OPEC plays and will continue to play a coordinating role in the market, as it has been for the past five years.

    Question: SPIEF is traditionally a platform for international dialogue. In your opinion, what are the most important factors that will determine future relations between energy producing and consuming countries, and how can Russia contribute to strengthening cooperation and stability in this dynamic environment?

    A. Novak: We are witnessing a transformation of the energy market, where, against the backdrop of accelerating energy consumption, accelerated growth is observed in all types of energy resources, both traditional ones – oil, gas, coal, and renewable energy sources. A renaissance in demand for the development of nuclear power plants is observed.

    The key drivers have already become the growth of the population in developing countries and the extensive development of data processing systems. And all this against the backdrop of the introduction of artificial intelligence.

    The recent major power outages in Spain and Portugal show that it is important to provide the population with electricity at economically feasible prices. Also, in addition to domestic generation and the choice of the optimal source in the conditions of inter-fuel competition, it is very important to ensure the possibility of delivering primary resources at acceptable prices.

    In this regard, I cannot help but state the obvious. Russia is a key supplier of energy resources around the world. And not only oil, gas and LNG, but also coal, which in the context of growing demand is an important competitive advantage. Russia is also a reliable partner in the supply of its energy resources, all contract terms are observed, and, given the current realities in the world, only long-term contracts and responsible relationships can become guarantors of a stable supply of energy resources.

    Question: In your opinion, in connection with recent geopolitical events, does the recently approved Energy Strategy need to be adjusted, or does it already take into account all possible risks?

    A. Novak: When developing the Energy Strategy until 2050, a pool of scenarios was considered that assumed various internal and external prerequisites and results of the development of Russian energy. In particular, the Energy Strategy until 2050 takes into account the stress scenario, which assumes a significant decrease in the production indicators of the fuel and energy complex industries against the background of a reduction in export opportunities and a general deterioration in external operating conditions.

    The calculation of quantitative indicators within the framework of the strategy’s stress scenario made it possible to identify the main challenges for the Russian energy sector in each of its sectors and to develop special measures to mitigate the consequences if such a scenario is implemented.

    But, of course, in case of significant changes not taken into account in the wide range of strategy scenarios, adjustments can be made to it. However, the main areas of work will remain the same.

    Question: Is the Power of Siberia 2 project still relevant in the current conditions? Have you managed to reach an agreement with your colleagues from China on the cost of gas? If so, when can a contract be signed for the project and what volume of supplies is currently being discussed?

    A. Novak: China is one of the largest energy consumers in the world, and its rapid economic development, industrial growth and urbanization contribute to a constant increase in energy demand. Particularly noticeable is the growing role of natural gas, which is used as a cleaner alternative to coal. In 2024, gas demand in China amounted to about 430 billion cubic meters, compared to 373 billion cubic meters in 2021, that is, an increase of 15%.

    In recent years, the role of renewable energy sources has also increased significantly in China’s energy sector – the country is the undisputed leader in terms of installed solar and wind generation capacity. If in 2021 the figure was 636 GW, then by 2024 it reached about 1400 GW. However, the growth in the use of renewable energy sources does not mean abandoning natural gas. Gas is expected to be used as a “balancing” fuel in cases of insufficient electricity generation from renewable energy sources and will remain the guarantor of China’s energy security. According to the forecast of the International Energy Agency, in the scenario of current policies, China will increase gas consumption throughout the forecast period, until 2050. By this time, gas demand in China is expected to increase by more than 30% compared to 2023.

    Russia, which is the leader in natural gas reserves (currently 63.4 trillion cubic meters), remains one of the main suppliers of this fuel to China. In this regard, the Power of Siberia 2 project undoubtedly remains relevant. As for the rest, more detailed information directly on the project itself is the subject of commercial negotiations.

    Question: Are there plans to build an oil pipeline to China parallel to Power of Siberia 2? You spoke about the possibility of delivering up to 30 million tons of oil per year through it. Has China confirmed its interest in this project? In what time frame could such a pipeline be built? Is there a preliminary estimate of its cost?

    A. Novak: I repeat: since the implementation of the project is the responsibility of the specialized companies, the details of the agreements are classified as a commercial secret and were not made public. However, I will add that, according to OPEC forecasts, China’s demand for oil in 2023-2050 will grow by an average of 2.5% per year. Against this background, the implementation of new infrastructure projects appears to be an important part of the sphere of interests of China’s fuel and energy sector.

    Question: Are there any risks for the National Welfare Fund due to the reduction in oil and gas budget revenues? The Ministry of Finance is already considering the possibility of adjusting the cutoff price under the budget rule. In this case, what are the prospects for the Russian “piggy bank”? Do you think it is important to continue accumulating the National Welfare Fund?

    A. Novak: Today, the cutoff price according to the budget rule is $60/bbl, and the average Urals FOB in January–April 2025 fluctuates in the range of $59–60/bbl.

    But current world oil prices are a short-term consequence of the current market situation, taking into account the growing factor of trade wars and geopolitical tensions, and do not suit most key oil producers. Therefore, oil prices will be adjusted as the effect of “market shocks” is leveled out and will take on an upward trend.

    As for the National Welfare Fund, it is certainly important to continue to accumulate it. The fund not only allows for the implementation of social projects and the maintenance of the well-being of citizens, but also promotes the development of industry and infrastructure in Russia.

    Question: Is there a need to replace the export of raw materials and first-stage products with new high-tech goods? Are new mechanisms of support from the state needed for this?

    A. Novak: In the context of increased sanctions pressure on the Russian fuel and energy complex, active import substitution is taking place. In parallel, work is actively underway to complete the modernization of oil refineries to improve the quality of manufactured products. The volume of oil and gas engineering currently exceeds 500 billion rubles, and by 2030 it is planned to import-substitute critical equipment by 100%.

    If we look at it from the point of view of petrochemistry, then by 2030 it is planned to increase the volume of production of large-tonnage plastics several times – up to 14 million tons. The development of oil refining will allow to fully provide the domestic market at reasonable prices. In implementing all import substitution projects, Russia is ready to start exporting services and supplying energy on a turnkey basis, that is, from raw materials to the construction of processing complexes in other countries.

    Thus, key measures to support both mechanical engineering and secondary product manufacturing are already being implemented in our country. New measures and mechanisms of support from the state require working out the effects and assessing the impact on the industry.

    Question: The key topic of SPIEF: common values are the basis for growth in a multipolar world. At the beginning of our conversation, we already discussed economic regionalization, but no less important is the division by value orientations. Until recently, carbon neutrality seemed to be a common goal for all countries: programs were adopted, significant budgets were allocated to solve these problems. But Trump’s rise to the presidency of the United States violated the status quo. He said that too much emphasis on renewable energy sources threatens the security of the United States. Do you see in this a general reversal and a paradigm shift in public and political consciousness? In your opinion, how can we maintain a balance between the world of the present and the world of the future, taking into account the priorities of all generations?

    A. Novak: Look what we see today? The aggressive policy of achieving carbon neutrality to the detriment of economic efficiency and the trend towards global replacement of traditional energy sources with renewable energy sources is gradually shifting to a more pragmatic direction. Many countries are adapting their energy policies towards an economically balanced approach to choosing energy sources.

    According to BloombergNEF’s annual report, global energy transition investment in 2024 grew by 11%, exceeding $2 trillion for the first time. However, the growth rate was lower than in the previous three years, when investment grew by 24-29% per year. Thus, to achieve carbon neutrality and net-zero emissions goals by mid-century, global energy transition investment in 2025-2030 will need to average $5.6 trillion per year.

    But investors pulled more than $30 billion out of climate-focused funds last year, ending a four-year boom that saw the value of assets increase sevenfold to $541 billion. Despite a six-fold increase in energy transition investment over the past 10 years, it is still only 37% of what is needed to achieve carbon neutrality. China was the largest such market, with $818 billion in investment.

    Factors that significantly limit the possibilities for large-scale implementation of renewable energy sources include insufficient transmission capacity of electrical networks, the expansion of which significantly reduces the economic efficiency of such generation. There are also limitations associated with the dependence of production on weather conditions. And all this against the background of a low level of maturity of energy storage technologies.

    The recent energy crisis in Spain and Portugal further confirms that today it is the grid complex that is the least prepared element of the energy system to operate in the conditions of the energy transition. Therefore, in the conditions of the current level of development of energy systems and the risks caused by this, it is necessary, first of all, to ensure a balance between economic efficiency, reliability of energy supply and the level of greenhouse gas emissions.

    Source – Vedomosti newspaper

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

    MIL OSI Russia News –

  • MIL-OSI Europe: ASIA/VIETNAM – Eucharistic Youth Movement: A breeding ground for vocations

    Source: Agenzia Fides – MIL OSI

    Movement of Eucharistic Youth

    Ho Chi Minh City (Agenzia Fides) – “The Movement of the Eucharistic Youth in Vietnam is the hope and the future of the Vietnamese Catholic Church since it has wonderful educational methods and no any other Catholic association with the Vietnam Church is as good and lively as the Vietnamese Eucharistic Youth,” said Archbishop Joseph Nguyen Nang at the 6th National Conference of Vietnamese Eucharistic Youth. The Archbishop noted: “the animators, catechists and children are very enthusiastic people working actively in the apostolic mission in the Church of Vietnam. This is an excellent breeding ground for vocations to the priesthood, the consecrated life, and for enthusiastic religious and lay apostles.”The conference was held at Hanh Thong Tay Church in the Archdiocese of Ho Chi Minh City, South Vietnam, from June 12 to 14, 2025, in the presence of many priests and members of the Executive Board of the Diocesan Movement of Eucharistic Youth from the 27 Vietnamese dioceses.Thanks to the shining examples of virtue of the Vietnamese martyrs, the Church of Vietnam always produces Catholic families who live a devout faith, and the Catholic associations that operate positively and enthusiastically in many parishes across the country, among those is “the Movement of Eucharistic Youth”, a movement which boasts a solid organizational structure and strong operational vitality. Today, in the context of the society changing rapidly, the practice of faith in the religious life of the youth worldwide is showing sign of decline. Therefore, cultivating faith for young people in the Vietnamese Church is urgent and must be carried out strategically to educate the young generation with a solid foundation in their faith.During the conference in Ho Chi Minh City, which addressed the theme of hope, particularly in the context of the Holy Year 2025, Bishop Peter Nguyen Van Vien, Chairman of the Vietnamese Commission for Youth and Eucharistic Children, said: “Hope does not only stop at the meaning of fulcrum spiritually but ‘Hope’ here also means a guiding light to the mission of educating and accompanying the youth today.”The general Secretary of the Vietnamese Eucharistic Youth Movement, Father John Le Quang Viet summarized the results and fruits, as well as difficulties and concerns during the past years and expressed his wish for more attention and support from Bishops and parish priests from each diocese and parish so that it can really become a “nursery” for the future of the Vietnamese Church. A very good sign in the Vietnamese Church today is that many Minor Seminaries and Major Seminaries, and Religious Orders for men and women have officially listed the training of animators in their training program of the congregation. Hopefully this work will spread throughout the country, and that the bishops of the diocese will encourage seminarians and young priests to actively learn about the Youth and Eucharistic Movement to accompany the young generation of Vietnam where the proportion of young people is very high, especially for those between the ages of 10 and 24 account for more than 20% of the population.The children who participate in the Eucharistic Youth Movement are usually teenagers who attend weekly catechism classes and mass at parishes on Sundays across the country. Besides, they also participate in monthly activities such as charity work and recreational activities.The Vietnamese Eucharistic Youth is a movement founded on the model of the World Eucharistic Youth Movement, which originated in France. This movement began in 1929 in Vietnam and gradually found a positive response among Vietnamese clergy and laity in many regions. So far, this movement is developing strongly throughout the dioceses all over Vietnam. This is a Catholic Youth organization that gathers the children around Jesus the Lord with the aim of educating them in two aspects: training them to become both good citizens and Christians. The educational foundation of the movement are the Word of God and the teachings of the Catholic Church. The movement invites children to live according to the following principles: – To live following the Word of God and uniting with the Eucharistic by praying, receiving communion, and doing apostolic activity under the guidance of the Holy Spirit. – To promote humanism, preserving and promoting the cultural traditions of the Vietnamese people. (AD/PA) (Agenzia Fides, 17/6/2025)
    Share:

    MIL OSI Europe News –

  • MIL-OSI Europe: ASIA/VIETNAM – Eucharistic Youth Movement: A breeding ground for vocations

    Source: Agenzia Fides – MIL OSI

    Movement of Eucharistic Youth

    Ho Chi Minh City (Agenzia Fides) – “The Movement of the Eucharistic Youth in Vietnam is the hope and the future of the Vietnamese Catholic Church since it has wonderful educational methods and no any other Catholic association with the Vietnam Church is as good and lively as the Vietnamese Eucharistic Youth,” said Archbishop Joseph Nguyen Nang at the 6th National Conference of Vietnamese Eucharistic Youth. The Archbishop noted: “the animators, catechists and children are very enthusiastic people working actively in the apostolic mission in the Church of Vietnam. This is an excellent breeding ground for vocations to the priesthood, the consecrated life, and for enthusiastic religious and lay apostles.”The conference was held at Hanh Thong Tay Church in the Archdiocese of Ho Chi Minh City, South Vietnam, from June 12 to 14, 2025, in the presence of many priests and members of the Executive Board of the Diocesan Movement of Eucharistic Youth from the 27 Vietnamese dioceses.Thanks to the shining examples of virtue of the Vietnamese martyrs, the Church of Vietnam always produces Catholic families who live a devout faith, and the Catholic associations that operate positively and enthusiastically in many parishes across the country, among those is “the Movement of Eucharistic Youth”, a movement which boasts a solid organizational structure and strong operational vitality. Today, in the context of the society changing rapidly, the practice of faith in the religious life of the youth worldwide is showing sign of decline. Therefore, cultivating faith for young people in the Vietnamese Church is urgent and must be carried out strategically to educate the young generation with a solid foundation in their faith.During the conference in Ho Chi Minh City, which addressed the theme of hope, particularly in the context of the Holy Year 2025, Bishop Peter Nguyen Van Vien, Chairman of the Vietnamese Commission for Youth and Eucharistic Children, said: “Hope does not only stop at the meaning of fulcrum spiritually but ‘Hope’ here also means a guiding light to the mission of educating and accompanying the youth today.”The general Secretary of the Vietnamese Eucharistic Youth Movement, Father John Le Quang Viet summarized the results and fruits, as well as difficulties and concerns during the past years and expressed his wish for more attention and support from Bishops and parish priests from each diocese and parish so that it can really become a “nursery” for the future of the Vietnamese Church. A very good sign in the Vietnamese Church today is that many Minor Seminaries and Major Seminaries, and Religious Orders for men and women have officially listed the training of animators in their training program of the congregation. Hopefully this work will spread throughout the country, and that the bishops of the diocese will encourage seminarians and young priests to actively learn about the Youth and Eucharistic Movement to accompany the young generation of Vietnam where the proportion of young people is very high, especially for those between the ages of 10 and 24 account for more than 20% of the population.The children who participate in the Eucharistic Youth Movement are usually teenagers who attend weekly catechism classes and mass at parishes on Sundays across the country. Besides, they also participate in monthly activities such as charity work and recreational activities.The Vietnamese Eucharistic Youth is a movement founded on the model of the World Eucharistic Youth Movement, which originated in France. This movement began in 1929 in Vietnam and gradually found a positive response among Vietnamese clergy and laity in many regions. So far, this movement is developing strongly throughout the dioceses all over Vietnam. This is a Catholic Youth organization that gathers the children around Jesus the Lord with the aim of educating them in two aspects: training them to become both good citizens and Christians. The educational foundation of the movement are the Word of God and the teachings of the Catholic Church. The movement invites children to live according to the following principles: – To live following the Word of God and uniting with the Eucharistic by praying, receiving communion, and doing apostolic activity under the guidance of the Holy Spirit. – To promote humanism, preserving and promoting the cultural traditions of the Vietnamese people. (AD/PA) (Agenzia Fides, 17/6/2025)
    Share:

    MIL OSI Europe News –

  • MIL-OSI Europe: Schengen area turns 40

    Source: European Union 2

    Freedom and security

    What do Prague, Lisbon, Geneva and Schengen have in common? 

    They all speak the same language

    They are all cities of countries in the Schengen area

    They all share borders

    All the previous answers are correct

    Correct!

    They are all cities of countries in the Schengen area.

    Incorrect.

    The correct answer is: They are all cities of countries in the Schengen area.

    On 14 June 1985, Belgium, France, Germany, Luxembourg and the Netherlands came together in the town of Schengen and agreed to gradually abolish checks at their internal borders.

    They signed the Schengen Agreement, allowing for the free movement of people, goods, and services amongst themselves.

    Where is Schengen? 

    With a population of over 5 200 the village of Schengen in Luxembourg has been on everyone’s lips for 40 years.

    ©Getty Images | © Allard Schager

    ©Getty Images | © Allard Schager

    Did you know?

    Schengen is bordered by the Moselle, a river that is a shared territory between

    Luxembourg, France, and Germany.

    There is no better symbol of EU integration than this one.

    What does Schengen mean today?

    The Schengen area has blossomed into the world’s largest area of freedom and security.

    The widening of the Schengen area

    A beacon of freedom and opportunity

    People can travel freely between Schengen countries. 

    Shifting border controls to our common external borders has reduced paperwork, waiting times and costs.

    It has fundamentally transformed how people live, work and travel for the better.

    ©Getty Images | Thierry Monasse

    ©Getty Images | Thierry Monasse

    Did you know?

    Every year Europeans make an estimated

    1.25 billion journeys

    within the Schengen area.

    Working together: greater security

    We are safer too, thanks to Schengen.

    Reducing barriers internally was accompanied by increased cooperation between police forces, customs authorities and external border control authorities, helping to make Europe more secure and reinforcing our external borders and managing migration more effectively. 

    This is essential to fight terrorism, organised crime and hybrid threats.

    Schengen Information System (SIS) is the most widely used and largest information sharing system for security and border management in Europe and allows authorities to share and access security alerts in real time across Schengen.

    ©Getty Images | Hristo Rusev

    ©Getty Images | Hristo Rusev

    Did you know?

    Almost

    2 million

    police officers, border guards, immigration officers, and consular staff work and cooperate every day to ensure our freedom and security.

    A place where businesses and citizens can thrive

    Schengen is a major driver of competitiveness and a true enabler of the single market. Since workers and goods can move freely, companies are able to reduce administrative costs and access larger markets at the same time.

    The same goes for the tourism and cultural sectors. Schengen simplifies travel, making Europe an even more attractive tourist destination. For example, visitors coming from non-Schengen countries can access all Schengen 29 countries with just one Schengen visa. This in turn directly benefits revenues for local businesses and economies.

    ©Getty Images | Bloomberg

    ©Getty Images | Bloomberg

    Did you know?

    In 2024,

    nearly 1.5 billion nights

    were spent at tourism establishments across the Schengen countries by tourists from other Schengen states or outside Schengen.

    Freedom. Opportunity. Security. Unity.

    Thanks to Schengen, we have more of all of them.

    40 years of expanding our horizons, while bringing us closer together.

    Now that’s truly something to celebrate.

    MIL OSI Europe News –

  • MIL-OSI: Billion Dollar Sports Entertainment Facility Market Witnessing Significantly High Revenue Share

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., June 17, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Sports facilities are not just earning revenues from sports but are also creating additional revenues from entertainment and other events. A recent report from Market.us said that the Global Sports Facilities Market size is expected to be worth around USD 1,084.0 Billion by 2034, from USD 132.4 Billion in 2024, growing at a CAGR of 23.4% during the forecast period from 2025 to 2034. The report said: “Sports facilities are dedicated spaces for athletic activities, training, and competitions. They include stadiums, arenas, gymnasiums, and community sports complexes. Some focus on professional events, while others serve schools and local leagues. These facilities support various sports, offering equipment, seating, and amenities for players and spectators. The sports facilities market includes businesses that develop, operate, and manage venues for sports activities. It covers public and private stadiums, fitness centers, and training complexes. The market depends on sports popularity, event hosting, and investments in infrastructure. Revenue comes from ticket sales, sponsorships, memberships, and government funding. Sports facilities are evolving to meet rising demand. Governments and private investors are upgrading stadiums, gyms, and training centers to attract more visitors.” Active Entertainment companies active in the markets include: Venu Holding Corporation (NYSE American: VENU), Live Nation Entertainment (NYSE: LYV), TKO Group Holdings, Inc. (NYSE: TKO), Madison Square Garden Sports Corp. (NYSE: MSGS), DraftKings Inc. (NASDAQ: DKNG).

    “Major sports events significantly impact local economies. According to Wikipedia, every $1 spent on operating costs and venues generates $2 for the host city. Additionally, these events create over 18,000 jobs on average. For this reason, cities continue to bid for global tournaments despite the high cost of construction and maintenance. Growth in this market is driven by increased sports participation and tourism. New multi-purpose venues host concerts, exhibitions, and esports events alongside traditional sports. However, competition is intense, with regions vying for sponsorships and government funding. As a result, operators focus on technology, sustainability, and unique fan experiences to stay competitive. The impact of sports facilities extends beyond entertainment. Locally, they create jobs, boost tourism, and promote community engagement. On a larger scale, they strengthen the global sports economy. Well-maintained venues attract international events, driving revenue from ticket sales, sponsorships, and broadcasting rights. Consequently, sports infrastructure plays a key role in economic growth.”

    Venu Holding Corporation (NYSE: VENU) Closes $10.125 Million Strategic Investment from Institutional Investor, Issues Convertible Preferred Stock – Venu Holding Corp. ($VENU) has closed a $10.125 million equity investment from a leading institutional investor through the issuance of 675 shares of Series B 4% Convertible Preferred Stock, priced at a Stated Value of $15,000 per share.

    Each share of Series B Preferred Stock is convertible into 1,000 shares of common stock, reflecting a conversion price of $15.00 per share, with a 4% annual cumulative dividend, payable in cash or registered common stock.

    Proceeds from the investment will support the continued development of the Company’s amphitheater buildout, including high-profile venues underway in McKinney, Texas and Tulsa, Oklahoma.

    Key terms of the Series B Preferred Stock include:

    • $15.00/share conversion price
    • Senior priority to common stock
    • Optional redemption rights for the investor if key venues are not operational by August 14, 2027
    • Company call option for conversion if common stock trades above $20.00 for 20 out of 30 consecutive trading days
    • Mandatory redemption if key long-term service agreements are terminated without replacement

    Additionally, the Company has entered into a Registration Rights Agreement and will file a registration statement with the SEC to cover the resale of any common shares issued under the preferred terms. This strategic capital infusion strengthens the Company’s balance sheet and further positions it to capitalize on demand for premium live entertainment infrastructure nationwide.   Read more about Venu Holding at:   https://venu.live/invest/

    In other developments and happenings in the sports/entertainment industry recently include:

    Live Nation Entertainment (NYSE: LYV), the global leader in live events, recently announced the election of Richard Grenell to its Board of Directors. Mr. Grenell brings decades of experience in diplomacy and negotiations, having served as U.S. Ambassador to Germany, Acting Director of National Intelligence, Presidential Envoy for Kosovo-Serbia Negotiations and Presidential Envoy for Special Missions. Mr. Grenell also currently serves as the President of the John F. Kennedy Center for the Performing Arts, where he oversees operations and programming at one of the nation’s premier cultural institutions.

    His career experience will help support Live Nation’s mission to bring more live music to the world, while also advocating for industry reforms that protect both fans and artists. “We are pleased to welcome Ric to our Board,” said Randall Mays, Chairman of the Board of Live Nation Entertainment. “His background will bring a valuable perspective as Live Nation continues to contribute to a growing live music industry around the globe.”

    TKO Group Holdings, Inc. (NYSE: TKO), a premium sports and entertainment company, recently announced that its board of directors has declared a quarterly cash dividend pursuant to which TKO’s Class A common stockholders will receive their pro rata share of an aggregate distribution of approximately $75 million from TKO Operating Company, LLC to its equityholders. The per share dividend to the holders of TKO’s Class A common stockholders will be $0.38 per share. The dividend will be paid on June 30, 2025 to Class A common stockholders of record as of the close of business on June 13, 2025.

    Future declarations of quarterly dividends are subject to the determination and discretion of TKO based on its consideration of various factors, such as its results of operations, financial condition, market conditions, earnings, cash flow requirements, restrictions in its debt agreements and legal requirements and other factors that TKO deems relevant.

    Madison Square Garden Sports Corp. (NYSE: MSGS) recently reported financial results for the fiscal third quarter ended March 31, 2025. Fiscal 2025 third quarter operating results reflected growth in average per-game revenues, including for tickets, sponsorship and premium hospitality offerings, across a combined two fewer New York Knicks (“Knicks”) and New York Rangers (“Rangers”) games played at the Madison Square Garden Arena (“The Garden”) as compared to the prior year quarter. In addition, fiscal 2025 third quarter operating results reflected the impact of expected reductions in local media rights fees as a result of proposed amendments to the Knicks’ and Rangers’ local media rights agreements with MSG Networks Inc. (“MSG Networks”) (as announced on April 25, 2025 and discussed in further detail in the Other Matters section of this earnings release), as well as the impact of the Knicks’ and Rangers’ rosters for the 2024-25 seasons.

    In March, the Company launched its 2025-26 Knicks and Rangers season ticket renewal initiative, which has seen strong demand to date. Subsequent to the end of the fiscal 2025 third quarter, both teams concluded their regular seasons, with the Knicks currently competing in the NBA playoffs.

    For the fiscal 2025 third quarter, the Company generated revenues of $424.2 million, a decrease of $5.8 million, or 1%, as compared to the prior year period. In addition, the Company reported operating income of $32.3 million, a decrease of $47.4 million, or 59%, and adjusted operating income of $36.9 million, a decrease of $51.8 million, or 58%, both as compared to the prior year period.

    In response to the recent and prior sports wagering tax increases passed by the Illinois state legislature on all mobile and online sports wagers placed with licensed operators, DraftKings Inc. (NASDAQ: DKNG) recently announced that it will implement a 50-cent transaction fee on all mobile and online bets placed in Illinois through DraftKings Sportsbook, effective September 1, 2025.

    “Illinois has been an important part of our growth, and we’re proud to have contributed meaningfully to the state through tax revenue, job creation, and a sustained investment in responsible gaming tools and resources,” said Jason Robins, Chief Executive Officer and Co-Founder of DraftKings. “We are disappointed that Illinois policymakers have chosen to more than triple our tax rate over the past two years, and we are very concerned about what this will do to the legal, regulated industry. Meanwhile, Illinois continues to fuel the rapidly growing illegal industry, which pays no taxes or fees and provides none of the consumer protections that regulated operators offer.”

    DraftKings continues to support collaborative policymaking that works for the state and allows for the long-term sustainability of the industry. Should the legislation be repealed, the company will immediately remove the Illinois-specific per wager transaction fee.

    About FN Media Group:

    At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases

    Follow us on Facebook to receive the latest news updates: https://www.facebook.com/financialnewsmedia

    Follow us on Twitter for real time Market News: https://twitter.com/FNMgroup

    Follow us on Linkedin: https://www.linkedin.com/in/financialnewsmedia/

    DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM expects to be compensated twenty two hundred dollars for news coverage of the current press releases issued by Venu Holding Corporation by a non-affiliated third party.  FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

    Contact Information:

    Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757 

    SOURCE: FN Media Group

    The MIL Network –

  • MIL-OSI: Form 8.3 – [ALPHA GROUP INTERNATIONAL PLC – 16 06 2025] – (CGAML)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

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

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY ASSET MANAGEMENT LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 ALPHA GROUP INTERNATIONAL PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 16 JUNE 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

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

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

    Class of relevant security: 0.2p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 1,400,542 3.3106    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 1,400,542 3.3106    

    All interests and all short positions should be disclosed.

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

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

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

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

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

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

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    0.2p ORDINARY SALE 2,000 3025p

    (b)        Cash-settled derivative transactions

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

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

    (i)        Writing, selling, purchasing or varying

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

    (ii)        Exercise

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

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

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

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

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

    NONE

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

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

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 17 JUNE 2025
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

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

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

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

    The MIL Network –

  • MIL-OSI: AGCO Slashes Total Case Injury Rates by Over 50% Across South America Using VelocityEHS Industrial Ergonomics

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, June 17, 2025 (GLOBE NEWSWIRE) — VelocityEHS, the global leader in EHS & ESG software solutions, today announced that AGCO, the world’s largest pure-play agricultural equipment manufacturer, has achieved a dramatic improvement in workplace safety through its implementation of VelocityEHS Industrial Ergonomics.

    “Ergonomics improvement is about enhancing productivity, reducing cost and boosting morale by reducing employee injuries and ultimately delivering the best products for our farmers,” said Tim Millwood, AGCO’s Senior Vice President and Chief Supply Chain Officer.

    In 2024 alone, AGCO conducted nearly 400 Kaizen events across six South American facilities—with more than half of those focused specifically on ergonomics and safety. The results speak volumes: Total Case Incident Rate (TCIR) dropped by more than 50% in sites where the ergonomics initiative was deployed.

    These improvements were achieved primarily through low-cost, high impact solutions and were driven by a structured, bottom-up approach that empowered local teams to easily identify, assess, and reduce musculoskeletal disorder (MSD) injuries using the VelocityEHS AI-driven Industrial Ergonomics solution.

    “Our people were trained to ‘see with ergo eyes’—giving them the ability to recognize risks and spot improvement opportunities in their everyday work,” said Walid El-Sayed, Global Director of Lean Academy and Global Director of Materials Management at AGCO.

    From Training to Transformation

    The partnership between AGCO and VelocityEHS began with a bold vision: to build an internal culture of ergonomics expertise and embed safety into every layer of production. As a result, AGCO delivered a structured, scalable program—an approach that served as a practical model for implementation across facilities.

    Their program included:

    • 2 days of software training
    • 2 days of hands-on Kaizen workshops with cross-functional teams
    • Seamless integration into AGCO’s APS (AGCO Production System) using the Plan-Do-Check-Act (PDCA) methodology

    Leadership That Walks the Talk

    AGCO credits its success to more than technology. The company’s leadership—guided by its core cultural beliefs: “Farmer First, Speak Up!, Team Up!”—has made a visible commitment to employee well-being.

    “I’m blessed to have leaders who don’t just talk the talk, but walk the talk,” said El-Sayed.

    Looking ahead, AGCO is now embedding ergonomics into New Product Introduction (NPI) processes—ensuring safety is designed in from the start, not added as an afterthought.

    A Shared Commitment to Safety and Innovation

    “AGCO exemplifies how operational excellence and worker well-being can go hand in hand,” said Matt Airhart, CEO of VelocityEHS. “This partnership reflects our shared commitment to making ergonomics accessible, effective, and embedded in the fabric of everyday operations. Their results prove that when you empower people with the right tools and training, safety becomes a driver of performance.”

    Read the full case study on the VelocityEHS website.

    About VelocityEHS

    Relied on by more than 10 million users worldwide to drive operational excellence and achieve outstanding outcomes, VelocityEHS is the global leader in true SaaS enterprise EHS & ESG technology. The VelocityEHS Accelerate® Platform is the definitive gold standard, delivering best-in-class software solutions for managing Safety, Ergonomics, Chemical Management, and Operational Risk. In addition, Velocity offers world-class applications for Contractor Safety & Permit to Work, Environmental Compliance, and ESG.

    The VelocityEHS team includes unparalleled industry expertise, with more certified experts in health, safety, industrial hygiene, ergonomics, sustainability, the environment, AI, and machine learning than any other EHS software provider. Recognized by the EHS industry’s top independent analysts as a Leader in the Verdantix 2025 Green Quadrant Analysis, VelocityEHS is committed to industry thought leadership and to accelerating the pace of innovation through its software solutions and vision. Its privacy and security protocols, which include SOC2 Type II attestation, are among the most stringent in the industry.

    VelocityEHS is headquartered in Chicago, Illinois, with locations in Ann Arbor, Michigan; Tampa, Florida; Oakville, Ontario; London, England; Perth, Western Australia; and Cork, Ireland. For more information, visit www.EHS.com.

    To learn more, visit www.EHS.com.

    Media Contact

    Jennifer Sinkwitts

    jsinkwitts@ehs.com

    The MIL Network –

  • MIL-OSI: Form 8.3 – [MARLOWE PLC – 16 06 2025] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

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

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 MARLOWE PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 16 JUNE 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 NO

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

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

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

    Class of relevant security: 50p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 3,105,841 3.9553    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 3,105,841 3.9553    

    All interests and all short positions should be disclosed.

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

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

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

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

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

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

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    50p ORDINARY SALE 1,375 441.8p

    (b)        Cash-settled derivative transactions

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

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

    (i)        Writing, selling, purchasing or varying

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

    (ii)        Exercise

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

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

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

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

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

    NONE

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

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

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 17 JUNE 2025
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

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

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

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

    The MIL Network –

  • MIL-OSI Africa: Global travel made simple with Kaspersky eSIM Store

    Kaspersky (www.Kaspersky.co.za) eSIM Store is a new connectivity solution for international travel. Designed to make it easier for leisure and business travellers to stay online globally, it empowers users with easy Internet access across 150+ countries and regions, with a choice of over 2,000 affordable data plans.

    The production of eSIM-compatible devices has increased tenfold in the last five years according to the GSMA (http://apo-opa.co/4lamZ8D). By 2028, it is expected that half of all mobile connections worldwide will use eSIM technology. This rise in popularity is driven by eSIM’s convenience and ease of use – eliminating the need for physical SIM cards and enabling a hassle-free experience wherever you go.

    To meet this growing trend, Kaspersky eSIM Store provides access to eSIM plans from local telecom operators all over the world – with an easy interface and simple management.

    A new way to always stay connected

    Kaspersky eSIM Store lets users to enjoy affordable and easily accessible Internet connections around the globe without the hassle of physical SIM cards. Users can seamlessly access eSIM plans from local telecom providers in 150+ countries and regions worldwide, providing favourable rates and transparent conditions without any roaming fees.

    While travelling, an eSIM can help users avoid high roaming costs on a primary SIM, remove the need to search for a local SIM kiosk and share personal data with them, as well as avoiding the use of unsecured public Wi-Fi networks. Instead, eSIM ensures that leisure travellers can focus on the joyful moments of their trip and instantly share them with friends and relatives, while business travellers have continuous access to important messages, working documents and video calls.

    Seamless connection in a few taps

    Kaspersky eSIM Store features a user-friendly interface for plan selection, purchase, top-ups, and data usage management. Travellers can choose their preferred activation date, allowing them to set up their eSIM in advance and be connected the moment their trip begins — all in just a few taps.

    To match the needs of any traveller, there are many flexible ways to choose and manage data plans.

    Options are available based on destination, including plans for specific countries, global plan 122 destinations, or mini-global plans tailored to specific regions. For trip duration, travellers can select between expiring plans valid for a fixed period or non-expiring plans that remain active until the data is fully used. This ensures convenience whether the trip is short or long.

    Additionally, users have control over when their plan starts. They can either schedule activation for a specific date or begin using the data immediately, providing flexibility to align with their travel schedule.

    To ensure users never run out of GB unexpectedly, Kaspersky eSIM Store provides real-time data usage monitoring and alerts when a balance is near zero. The user profile (on the webpage or in the app) allows quick top-ups and supports multiple countries on a single eSIM – install once and use for a lifetime.

    Kaspersky eSIM Store is launched in partnership with award-winning provider BNESIM Limited, which has been delivering global eSIM services since 2017.

    “At Kaspersky we are constantly keeping up with latest trends shaping our digital habits, and eSIM is definitely one of them. eSIM technology greatly simplifies travelling abroad, allowing people to stay connected and not worry about issues like roaming charges. We know from our own experience how important it is to stay in touch with your family or colleagues when you are on a trip, so we designed Kaspersky eSIM Store for all types of travellers to ensure instant access to eSIM data plans wherever they go, as well as to provide a safe and positive digital experience,” – Mikhail Gerber, Executive Vice President, Consumer Business, Kaspersky.

    Kaspersky eSIM Store is now available on the official website www.Kasperskyesimstore.com, and as a mobile app in App Store and Google Play.

    Kaspersky eSIM Store complements Kaspersky’s wide range of industry-recognised solutions, such as Kaspersky VPN Secure Connection and Kaspersky Premium. Together they cover all modern connectivity needs and enhance digital freedom – ensuring safe, worry-free connectivity across the world.

    *You can check your device’s eSIM-capability on the www.Kasperskyesimstore.com or in the app.

    Distributed by APO Group on behalf of Kaspersky.

    For further information please contact:
    Nicole Allman
    nicole@inkandco.co.za

    Social Media:
    Facebook: https://apo-opa.co/4kVoJ5G
    X: https://apo-opa.co/4jX5cAx
    YouTube: https://apo-opa.co/3ZzIlnD
    Instagram: https://apo-opa.co/4e2SCyu
    Blog: https://apo-opa.co/4jZCUpf

    About Kaspersky:
    Kaspersky is a global cybersecurity and digital privacy company founded in 1997. With over a billion devices protected to date from emerging cyberthreats and targeted attacks, Kaspersky’s deep threat intelligence and security expertise is constantly transforming into innovative solutions and services to protect individuals, businesses, critical infrastructure, and governments around the globe. The company’s comprehensive security portfolio includes leading digital life protection for personal devices, specialized security products and services for companies, as well as Cyber Immune solutions to fight sophisticated and evolving digital threats. We help millions of individuals and over 200,000 corporate clients protect what matters most to them. Learn more at www.Kaspersky.co.za.

    MIL OSI Africa –

  • MIL-OSI Africa: Mauritania roundtable raises US$2 billion pledge from the Arab Coordination Group in development funding

    Mauritania’s national development program will see a strong boost with a US$2 billion pledge made by the Arab Coordination Group (ACG) (www.TheACG.org) at a high-level roundtable held in Vienna, Austria. The event was chaired by the President of Mauritania, Mohamed Ould Cheikh El Ghazouani, and was hosted by the OPEC Fund for International Development in the framework of the Annual Meeting of the ACG Heads of Institutions.

    OPEC Fund President Abdulhamid Alkhalifa said: “We are strongly committed to play an active role in the implementation and success of Mauritania’s ambitious development program. With our pledge we are mobilizing our collective capabilities to translate ambition into action and bring about positive change in the lives of the people of our partner country Mauritania.”

    Speaking on behalf of the Arab Coordination Group, the President of the Islamic Development Bank (IsDB), H.E Dr. Muhammed Al Jasser, said: “Our funding will be directed to vital priority sectors, including energy, water, transportation and digital infrastructure, in order to stimulate economic growth and achieve comprehensive and sustainable development in the country.”

    The pledge followed an opening address by President El Ghazouani who reaffirmed Mauritania’s commitment to institutional reform, enhanced transparency and improved governance. He noted that these efforts, combined with macroeconomic stability and modernized public administration, are laying the foundation for long-term, inclusive growth. The President also underscored the country’s ambition to become a competitive investment destination through streamlined investment procedures and strengthened national security.

    During the roundtable, the government of Mauritania presented a portfolio of priority investment projects. Among them was an initiative to hybridize thermal power plants and enhance existing hybrid facilities with advanced energy storage solutions. Two strategic water infrastructure projects were also featured: one at the Taraf Al-Mahroud site and another in the Karakoro Basin. In the transport sector, the rehabilitation of the Nouakchott–Nouadhibou and Rosso–Boghé corridors was highlighted as vital to improving trade and connectivity.

    The ACG pledge will cover the period 2025-2030. Delivery will be “closely coordinated with the government and international partners,” IsDB President Al Jasser announced. The roundtable preceded the OPEC Fund Development Forum on June 17, where Mauritania’s President El Ghazouani will deliver an opening address as guest of honor.

    OPEC Fund President Alkhalifa underscored the institution’s commitment to supporting Mauritania. During a visit to the country in January he signed a Country Partnership Framework Agreement for the period 2025-2027. Under this strategic cooperation, the OPEC Fund will focus on key sectors such as renewable energy, water, food security, transport and clean cooking. The President said: “To be successful, development needs to attract investment. To be sustainable, however, development also needs to generate tangible results for the people. The government’s strategy prudently links both.”

    The Arab Coordination Group is the world’s second-largest development finance group, united around shared values of South-South cooperation and solidarity. Last year, the ACG extended US$19.6 billion collectively to fund nearly 650 operations in more than 90 countries.

    Distributed by APO Group on behalf of Arab Coordination Group (ACG).

    About the Arab Coordination Group (ACG):
    The Arab Coordination Group (ACG) is a strategic alliance that provides a coordinated response to development finance. Since its establishment in 1975, ACG has been instrumental in developing economies and communities for a better future, providing more than 13,000 development loans to over 160 countries around the globe. Comprising ten development funds, ACG is the second-largest group of development finance institutions in the world and works across the globe to support developing nations and create a lasting, positive impact.

    The Group comprises the Abu Dhabi Fund for Development, the Arab Bank for Economic Development in Africa, the Arab Fund for Economic and Social Development, the Arab Gulf Programme for Development, the Arab Monetary Fund, the Islamic Development Bank, the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Development, the Qatar Fund for Development and the Saudi Fund for Development.

    MIL OSI Africa –

  • MIL-OSI Africa: RelyEZ to Showcase Full-Lifecycle Energy Solutions at Africa Energy Forum (AEF) 2025, Following Commissioning of 1.5GWh in China

    Fresh off the successful commissioning of four landmark energy storage projects totalling 1.5 GWh in Yunnan Province, China, RelyEZ (www.RelyEZ.com) is bringing its global expertise and proprietary technology to Africa. At Africa Energy Forum (AEF) 2025, the Tier 1 energy storage leader will showcase its advanced battery energy storage systems (BESS) and AI-powered energy management platforms, underscoring its commitment to powering Africa’s clean energy transition.

    The Yunnan projects—located in Yao’an, Yongde, Nanhua, and Xundian—mark a significant engineering feat. Completed by the end of May 2025, these four large-scale BESS installations were delivered fully in-house, from early-stage development and investment structuring, to engineering design, manufacturing, installation, and commissioning. RelyEZ’s vertically integrated execution model gave the company full control over quality, cost, and schedule, even in some of China’s most complex terrains and grid environments.

    At the heart of these projects are RelyEZ’s flagship products: the GridUltra5016 liquid-cooled BESS cabins and the EnergyHub Energy Management System (EMS). These technologies enabled enhanced system efficiency, safety, and grid adaptability—demonstrating RelyEZ’s unique ability to deliver high-impact, bankable energy storage solutions at scale.

    “These projects prove that full-lifecycle execution isn’t just a vision—it’s how we operate,” said Ms. Naomi Zhang, CEO of RelyEZ. “We believe that Africa is the next frontier where this proven project approach, powered by our proprietary technologies, can deliver real impact.”

    Proven Impact in Africa

    RelyEZ’s presence in Africa already includes key installations such as a 2 MW/6.4 MWh solar-diesel-storage microgrid in Chad and a 5 MW/10 MWh national green energy project in Côte d’Ivoire—each engineered for weak-grid or off-grid scenarios where reliability and adaptability are essential.

    At AEF 2025, RelyEZ will present its full-spectrum capabilities, including:

    • Proven Hardware: The GridUltra5016 BESS with advanced liquid cooling for thermal safety and performance in harsh environments.
    • AI-Powered Optimization: The EnergyHub EMS and cloud-based EnergyCloud platform, enabling predictive maintenance, intelligent dispatch, and lifecycle extension.
    • Turnkey Execution: All-in-house project delivery—from design to commissioning—with a proven track record in both emerging and mature markets.

    Visit RelyEZ at Booth E20

    AEF attendees are invited to Booth E20 to connect with RelyEZ’s commercial and technical teams, discuss regional project opportunities, and explore how RelyEZ’s integrated product and project approach can support Africa’s clean energy goals. CEO Ms. Naomi Zhang will also speak during the forum to share lessons learned from global deployments and insights into future trends in energy asset management.

    Distributed by APO Group on behalf of RelyEZ.

    About RelyEZ:
    Founded in 2019, RelyEZ is a global leader in integrated energy storage solutions with over 13 GWh of capacity delivered across 200+ projects worldwide. Recognized by BloombergNEF as a Tier 1 global energy storage provider and named an S&P Global Top 10 Original BESS Manufacturer, RelyEZ designs and develops all critical system components in-house, including its PCS, BMS, EMS, and EnergyCloud platform. The company is committed to “making reliable clean energy accessible to everyone,” delivering safe, intelligent, and efficient solutions to power a sustainable world. For more information, please visit: www.RelyEZ.com

    MIL OSI Africa –

  • MIL-OSI Africa: Rolls-Royce Expands African Footprint with New Regional Headquarters and Training Facility for its Power Systems division

    • New facility in Johannesburg will meet the growing demand for local service solutions
    • Training up to 150 engineers per year

    Rolls-Royce (www.Rolls-Royce.com) has officially opened a new headquarters and training facility in Johannesburg, South Africa, to support its Power Systems division. The new facility is further evidence of the company’s long-term commitment to Africa and will support the growing fleet of Power Systems’ mtu mobile and stationary power solutions across critical sectors such as energy, technology, mining, transportation, and oil & gas.

    Located in a specially adapted facility spanning approximately 6,000m², the new site consolidates core customer-facing functions into a central hub, including service coordination, spare parts storage, logistics, and technical training. It complements Rolls-Royce’s existing footprint in South Africa, with mtu engine rebuild capability, and finance and logistics functions located in Cape Town.

    The training centre is designed to support between 100 and 150 trainees annually with a wide range of training engines, including mtu 2000 and 4000 series, used for power generation, mining and rail applications. Trainees will benefit from access to advanced tooling and use simulation equipment for electronic training. The centre will deliver certified practical and theoretical training, equipping customers and partners from across Africa with the knowledge and hands-on experience required to support a wide range of applications and industries. 

    The new facility, operated by Rolls-Royce Solutions Africa, features dedicated capacity for the engineering and assembly of repower modules, enabling the replacement of engines in mining haul trucks and excavators with more suitable mtu power solutions. This allows customers to select upgrade options tailored to their specific operational needs. Fitting mtu engines delivers clear commercial benefits, including lower Total Cost of Ownership through improved fuel efficiency, increased equipment availability, and reduced maintenance costs. With a strong focus on system resilience, the regional subsidiary Rolls-Royce Solutions Africa is committed to delivering robust, fit-for-purpose solutions designed to perform in the demanding and often harsh operating environments across the continent.

    Cobus Van Schalkwyk, Director Global Mining and Managing Director, Rolls-Royce Solutions Africa:

    “As we approach our 25th year in South Africa, this new facility is a clear signal of our confidence in Africa’s growth and our commitment to being closer to our customers.

    “By bringing support services, technical training, and parts availability together under one roof, we’re building the capabilities that matter most to our partners across the continent. This investment also supports our strategy to further localise operations, reduce lead times, and strengthen supply chain resilience — critical advantages for customers operating in remote or fast-paced environments.”

    Press photos for download can be found at Media Centre (https://apo-opa.co/3G5yjnr)

    Distributed by APO Group on behalf of Rolls-Royce.

    For further information, contact:
    Media
    Lydia-Claire Halliday
    Corporate Communications Africa
    LCH Consultancy
    Tel +254 708000510
    lydia@lchconsultancy.com

    About Rolls-Royce Holdings plc:
    1.    Rolls-Royce is a force for progress, powering, protecting and connecting people everywhere. Our products and service packages help our customers meet the growing need for power across multiple industries; enable governments to equip their armed forces with the power required to protect their citizens; and connect people, societies, cultures and economies together.

    2.  Rolls-Royce has a local presence in 48 countries and customers in over a hundred more, including airlines and aircraft leasing companies, armed forces and navies, and marine and industrial customers.

    3.  Through our multi-year transformation programme, we are building a high-performing, competitive, resilient and growing Rolls-Royce. We are building the financial capacity and agility to allow us to successfully develop and deliver the products that will support our customers through the energy transition.

    4.  Annual underlying revenue was £17.8 billion in 2024, and underlying operating profit was £2.46 billion.

    5.  Rolls-Royce Holdings plc is a publicly traded company (LSE: RR., ADR: RYCEY, LEI: 213800EC7997ZBLZJH69)5.     

    6.   Rolls-Royce Power Systems is headquartered in Friedrichshafen in southern Germany and employs more than 10,350 people. The product portfolio includes mtu-brand high-speed engines and propulsion systems for ships, heavy land, rail and defence vehicles and for the oil and gas industry. The portfolio also includes diesel and gas systems and battery containers for mission critical, standby and continuous power, combined generation of heat and power, and microgrids. With its climate friendly technologies, Rolls-Royce Power Systems is helping to drive the energy transition.

    www.Rolls-Royce.com
    www.mtu-Solutions.com

    MIL OSI Africa –

  • MIL-OSI USA: Justice Department Requires Safran to Divest Assets to Proceed with Acquisition of Raytheon Assets

    Source: US State of North Dakota

    The Proposed Settlement Requires a Substantial Divestiture Package That Will Preserve Competition for Critical Flight Control Components

    The Justice Department’s Antitrust Division announced today that it will require Safran, S.A. and Safran USA Inc. (Safran) to divest its North American actuation business and related assets to resolve antitrust concerns arising from its proposed $1.8 billion acquisition of Collins Aerospace’s actuation and flight control business from RTX Corporation (RTX) (formerly Raytheon Technologies). The divestiture resolves concerns that the transaction would recombine assets that were divested as part of the Division’s settlement of United Technologies Corporation’s (UTC) acquisition of Rockwell Collins in 2018. UTC merged with Raytheon Company in 2020, forming Raytheon Technologies.

    The Antitrust Division filed a civil antitrust lawsuit in the U.S. District Court for the District of Columbia to block the proposed transaction. At the same time, the Division filed a proposed settlement that, if approved by the court, would resolve the Division’s competitive concerns.

    “Today’s settlement is a structural solution to an acquisition that would have harmed competition for important aircraft components that are critical to passenger safety. The proposed divestiture to Woodward, an established provider in the aerospace industry, ensures that American customers will continue to benefit from competition, and the incentives of Woodward, the merging parties, and their customer base are aligned with the remedy’s success,” said Assistant Attorney General Abigail Slater of the Justice Department’s Antitrust Division. “This settlement is another example of our commitment to transparency and relief that secures robust and enforceable commitments from the merging parties that account for industry dynamics. The Antitrust Division will apply heightened scrutiny to transactions that propose to recombine assets divested in response to the Division’s prior enforcement actions, taking appropriate consideration for changes in competitive conditions.”

    As detailed in the complaint, Safran and RTX are two of the leading suppliers in the market for trimmable horizontal stabilizer actuators (THSAs) for large aircraft. A THSA helps an aircraft maintain the proper altitude during flight and is critical to the safety and performance of the aircraft. Safran and RTX compete head-to-head to develop and sell this critical component. Without the proposed divestiture, Safran’s acquisition of RTX’s actuation and flight control business would likely result in higher prices, lower quality, and reduced innovation to the detriment of customers and American consumers. The proposed divestiture of Safran’s North American actuation business includes the assets Safran had acquired under the Division’s 2018 settlement with UTC and Rockwell Collins. Safran has since operated these assets as a viable competitor in the market for THSAs.

    The proposed settlement requires Safran to divest its North American actuation business, including THSAs and secondary flight control actuators, and its Canada-based electronic control unit, to Woodward Inc., an American company with significant experience in the aerospace industry, including serving large aircraft manufacturers. The divestiture assets also include the tangible and intangible assets necessary to produce and sell THSAs, secondary flight control actuators, and electronic control units. Woodward is expected to hire certain key Safran employees that today support the divested business lines.

    The Antitrust Division, the European Commission, and the Competition and Markets Authority cooperated closely throughout the course of their respective investigations.

    Safran is a French multinational company with its headquarters in Paris, France. Safran produces a wide range of products for the aviation, space, and defense sectors. In 2024, Safran had revenues of approximately €27 billion. 

    RTX is an American multinational company, incorporated in Delaware and is headquartered in Arlington, Virginia. RTX is a major provider of aerospace and defense products and systems. In 2024, RTX had revenues of approximately $80 billion.

    As required by the Tunney Act, the proposed settlement, along with the Department’s competitive impact statement, will be published in the Federal Register. Any person may submit written comments concerning the proposed settlement within 60 days of its publication to Soyoung Choe, Acting Chief, Defense, Industrials, and Aerospace Section, Antitrust Division, U.S. Department of Justice, 450 Fifth Street, NW, Suite 8700, Washington, D.C. 20530 or via email at ATR.DIA.Information@usdoj.gov. At the conclusion of the public comment period, the court may enter the final judgment upon finding that it is in the public interest.

    MIL OSI USA News –

  • MIL-OSI Security: Justice Department Requires Safran to Divest Assets to Proceed with Acquisition of Raytheon Assets

    Source: United States Attorneys General

    The Proposed Settlement Requires a Substantial Divestiture Package That Will Preserve Competition for Critical Flight Control Components

    The Justice Department’s Antitrust Division announced today that it will require Safran, S.A. and Safran USA Inc. (Safran) to divest its North American actuation business and related assets to resolve antitrust concerns arising from its proposed $1.8 billion acquisition of Collins Aerospace’s actuation and flight control business from RTX Corporation (RTX) (formerly Raytheon Technologies). The divestiture resolves concerns that the transaction would recombine assets that were divested as part of the Division’s settlement of United Technologies Corporation’s (UTC) acquisition of Rockwell Collins in 2018. UTC merged with Raytheon Company in 2020, forming Raytheon Technologies.

    The Antitrust Division filed a civil antitrust lawsuit in the U.S. District Court for the District of Columbia to block the proposed transaction. At the same time, the Division filed a proposed settlement that, if approved by the court, would resolve the Division’s competitive concerns.

    “Today’s settlement is a structural solution to an acquisition that would have harmed competition for important aircraft components that are critical to passenger safety. The proposed divestiture to Woodward, an established provider in the aerospace industry, ensures that American customers will continue to benefit from competition, and the incentives of Woodward, the merging parties, and their customer base are aligned with the remedy’s success,” said Assistant Attorney General Abigail Slater of the Justice Department’s Antitrust Division. “This settlement is another example of our commitment to transparency and relief that secures robust and enforceable commitments from the merging parties that account for industry dynamics. The Antitrust Division will apply heightened scrutiny to transactions that propose to recombine assets divested in response to the Division’s prior enforcement actions, taking appropriate consideration for changes in competitive conditions.”

    As detailed in the complaint, Safran and RTX are two of the leading suppliers in the market for trimmable horizontal stabilizer actuators (THSAs) for large aircraft. A THSA helps an aircraft maintain the proper altitude during flight and is critical to the safety and performance of the aircraft. Safran and RTX compete head-to-head to develop and sell this critical component. Without the proposed divestiture, Safran’s acquisition of RTX’s actuation and flight control business would likely result in higher prices, lower quality, and reduced innovation to the detriment of customers and American consumers. The proposed divestiture of Safran’s North American actuation business includes the assets Safran had acquired under the Division’s 2018 settlement with UTC and Rockwell Collins. Safran has since operated these assets as a viable competitor in the market for THSAs.

    The proposed settlement requires Safran to divest its North American actuation business, including THSAs and secondary flight control actuators, and its Canada-based electronic control unit, to Woodward Inc., an American company with significant experience in the aerospace industry, including serving large aircraft manufacturers. The divestiture assets also include the tangible and intangible assets necessary to produce and sell THSAs, secondary flight control actuators, and electronic control units. Woodward is expected to hire certain key Safran employees that today support the divested business lines.

    The Antitrust Division, the European Commission, and the Competition and Markets Authority cooperated closely throughout the course of their respective investigations.

    Safran is a French multinational company with its headquarters in Paris, France. Safran produces a wide range of products for the aviation, space, and defense sectors. In 2024, Safran had revenues of approximately €27 billion. 

    RTX is an American multinational company, incorporated in Delaware and is headquartered in Arlington, Virginia. RTX is a major provider of aerospace and defense products and systems. In 2024, RTX had revenues of approximately $80 billion.

    As required by the Tunney Act, the proposed settlement, along with the Department’s competitive impact statement, will be published in the Federal Register. Any person may submit written comments concerning the proposed settlement within 60 days of its publication to Soyoung Choe, Acting Chief, Defense, Industrials, and Aerospace Section, Antitrust Division, U.S. Department of Justice, 450 Fifth Street, NW, Suite 8700, Washington, D.C. 20530 or via email at ATR.DIA.Information@usdoj.gov. At the conclusion of the public comment period, the court may enter the final judgment upon finding that it is in the public interest.

    MIL Security OSI –