NewzIntel.com

Category: Entertainment

  • MIL-OSI China: 2025 Chongqing Hotpot Carnival celebrates city’s spicy cuisines

    Source: China State Council Information Office 3

    A hotpot extravaganza — the 2025 Chongqing Hotpot Carnival — kicked off at Yangjiaping pedestrian street in Chongqing’s Jiulongpo district on Friday night. The three-day event drew over 10,000 hotpot establishments — representing 7,800 hotpot brands from both online and offline platforms — and a tremendous number of enthusiastic foodies to celebrate the city’s most famous spicy cuisines.

    As the highlight of the festival, a grand outdoor hotpot feast for one thousand diners was held at the bustling hotpot booths after the opening ceremony.

    The event also featured a hotpot-themed music festival and market, organized in partnership with local hotpot brands including Liu’s Hot Pot Chongqing and Hui Hotpot.

    Boasting both the best and largest number of hotpot restaurants in the country, Chongqing was named “China’s hotpot city” by the China Cuisine Association in 2007.

    “As of 2024, searches related to Chongqing on the Douyin platform have surpassed 260 million, with video views exceeding 90 billion,” said Wang Qinglong from video-sharing platform Douyin at the event.

    According to the local commission of commerce, Chongqing boasts approximately 37,000 hotpot restaurants and nearly one million industry-related employees, generating an output value exceeding 300 billion yuan ($41.12 billion). These local hotpot brands have also expanded their businesses to over 80 countries and regions.

    In September, Meituan, an online service platform, released the 2024 Chongqing Hotpot Big Data Observation report. It revealed the robust supply and demand dynamics in Chongqing’s hotpot industry for 2024, projecting that the city’s hotpot market consumption scale this year is expected to surpass 72 billion yuan.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: Red flags lowered at Lido Beach and Casam Beach

    Source: Hong Kong Government special administrative region

    Red flags lowered at Lido Beach and Casam Beach
    Red flags lowered at Lido Beach and Casam Beach
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    Attention TV/radio announcers:Please broadcast the following as soon as possible and repeat it at regular intervals:     Here is an item of interest to swimmers.     The Leisure and Cultural Services Department announced today (December 23) that since the water of Lido Beach and Casam Beach in Tsuen Wan District is now suitable for swimming, the red flags have been lowered.     The red flags were hoisted at the beaches earlier after a red tide was found.

     
    Ends/Monday, December 23, 2024Issued at HKT 12:37

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    MIL OSI Asia Pacific News –

  • MIL-OSI China: Exhibition showcases cultural heritage

    Source: China State Council Information Office 3

    An international exhibition of intangible cultural heritage ran from Friday to Sunday at the Beijing Exhibition Center.

    Co-organized by the Beijing International Art Fair Foundation and the China Youth Care Foundation, the event aimed to provide a platform to showcase the allure of diverse intangible cultural heritage. It had drawn intangible heritage inheritors from nearly 40 countries and regions, as well as art collectors.

    The exhibition units focusing on traditional cuisine and traditional skills had attracted numerous visitors, featuring over 60 traditional skills spanning cuisines, music and dance, traditional Chinese medicine culture, various forms of embroidery, and Chinese martial arts, among other rich categories.

    The event offered different activities, including exhibitions, cultural performances, forums, charitable auctions and sales. These activities raised public awareness of the protection and inheritance of intangible cultural heritage, driving innovation and development within the intangible cultural heritage arts industry.

    Taking this exhibition as a new starting point, the Beijing International Art Fair Foundation plans to regularly host such events to awaken widespread public interest and love for intangible cultural heritage, promote their integration into modern life and showcase their unique charm through cross-cultural exchanges on an international scale.

    MIL OSI China News –

  • MIL-OSI: Periodic announcement on the acquisition of the Bank‘s own shares and its results (week 7)

    Source: GlobeNewswire (MIL-OSI)

    This announcement contains information on transactions of the acquisition of own shares of AB Šiaulių bankas (the Bank) carried during the period specified below under the Bank’s own share buy-back programme announced on 31 October 2024. 

    The period during which the acquisition of the Bank’s own shares under the programme was carried out – 04.11.2024 – 20.12.2024. 

    Period covered by this periodic report – 16.12.2024 – 20.12.2024. 

    Other information: 

    Transaction overview 
    Date  Total number of shares purchased on the day ( units)  Weighted average price (EUR)  Total value of transactions (EUR) 
    2024.12.16 90,000 0.829 74,580.03
    2024.12.17 75,000 0.828 62,115.00
    2024.12.18 80,000 0.828 66,240.00
    2024.12.19 75,000 0.826 61,950.03
    2024.12.20 50,000 0.825 41,250.01
    Total acquired during the current week  370,000 0.827 306,135.07
    Total acquired during the programme period  3,010,461 0.826 2,486,973.54
           
     

    The Bank’s own bought-back shares: 9,890,461 units.  

    Following the above transactions, the Bank will own a total of 10,260,461 units of own shares representing 1.55 % of the Bank’s issued shares. 

    Further detailed information on the transactions is attached. 

    This information is also available at: www.sb.lt   

    Additional information:
    Tomas Varenbergas
    Head of Investment Management Division
    tomas.varenbergas@sb.lt

    Attachment

    The MIL Network –

  • MIL-OSI Global: From pop songs to baby names: How Simeulue Island’s ‘smong’ narrative evolves post-tsunami

    Source: The Conversation – Indonesia – By Alfi Rahman, Lecturer at Faculty of Social and Political Sciences, Universitas Syiah Kuala, Director of Research Center for Social and Cultural Studies (PRISB) Universitas Syiah Kuala, and Researcher at Tsunami and Disaster Mitigation Research Center (TDMRC), Universitas Syiah Kuala

    Simelulue men gather to perform ‘nandong,’ a traditional local song. (Jihad fii Sabilillah/Youtube), CC BY

    20 years have passed since the Aceh tsunami, leaving deep scars on Indonesia, especially for those directly affected. Aceh was also recovering from a three-decade armed conflict between the Free Aceh Movement and the national government

    Throughout December 2024, The Conversation Indonesia, in collaboration with academics, is publishing a special edition honouring the 20 years of efforts to rebuild Aceh. We hope this series of articles preserves our collective memory while inspiring reflection on the journey of recovery and peace in the land of ‘Serambi Makkah.’

    Off the southern coast of Aceh lies Simeulue, a small island with a powerful story of survival. When the devastating Indian Ocean tsunami killed hundreds of thousands across the region in 2004, only five people died on Simeulue — some say just three.

    This remarkable survival was credited to a local wisdom called smong — their term for tsunamis in the Simeulue language — that taught them to read nature’s warning signs and escape to safety.

    Passed down through generations since a previous tsunami struck in 1907, smong describes the signs of an upcoming ghostly wave: a strong earthquake and the receding of seawater. This knowledge becomes a survival guide that directs them to move away from the coast immediately or head to higher ground.

    Two decades after the 2004 disaster, our research shows that this life-saving knowledge is transforming, reflecting broader social shifts and information and communication technology development. It is no longer told only through nafi-nafi (oral storytelling) but adapting to new channels, from traditional songs to pop music and even into children’s names.

    From tradition to transformation

    Our study – spanning from 2016 to 2023 and involving interviews with 18 participants – captures how smong evolves over time. Smong, for instance, finds its way to nandong, Simeulue’s traditional songs that now incorporate lyrics about the life-saving local wisdom. A local artist said:

    After the 2004 tsunami, we adapted the smong story into nandong. This became a new way to convey the ‘smong’ message, ensuring it remains relevant and easy to remember.

    One popular nandong lyric goes:

    Linon uwak-uwakmo (The earthquake rocks you like a cradle)

    Elaik kedang-kedangmo (Thunder beats like a drum)

    Kilek suluh-suluhmo (Lightning flashes like your lamp)

    Smong dumek-dumekmo (The tsunami is your bathing water).

    Video containing song or ‘nandong’ about ‘smong’

    But even as Simeulue’s younger generation embraced modern influences, smong kept up. Local artists began creating pop songs in Devayan, one of the island’s local languages. The catchy tunes brought smong into classrooms, as a 23-year-old local testified:

    I first heard a ‘smong’ song at school. The lyrics were simple but clear. They told me exactly what to do if a tsunami came.

    A children’s tale telling a stort about ‘smong’

    Smong as a symbol of resilience

    Today, smong is more than a safety warning; it symbolises the island’s strength and identity. In some families, smong even lives on in names.

    One grandmother named her grandson “Putra Smong” (smong’s son) as a tribute, saying

    His name reminds us of the wisdom that saved our lives.

    The challenge of preservation

    Despite its transformation, preserving the smong narrative faces challenges that risk eroding this customary knowledge.

    The biggest challenge is the shift in lifestyle and culture among Simeulue’s youth. Today’s younger generation is more familiar with digital technology than oral traditions. A mother said:

    In the past, our elders would tell ‘smong’ stories every evening after Maghrib (dusk) prayers. Now, children are too busy with their gadgets.

    Globalisation also brings external cultural influences, diverting the attention of Simeulue’s youth from the local heritage. Many young people grow up with limited knowledge of traditions like nafi-nafi.

    Another major challenge is the declining use of local languages such as Devayan, Sigulai, and Lekon in daily conversations. Since smong originates from these languages, preserving it relies on their continued use.

    Our observation concludes that the transmission of smong narratives remains sporadic. Its spread often depends on individual or small group initiatives and sometimes awaits external interventions.

    Without concrete efforts, the smong narrative risks fading and being forgotten by future generations. A local activist stated:

    I once proposed building a ‘smong’ monument to remind the younger generation, but the idea has yet to be realised.

    Hope for continuity: Bridging tradition and modernity

    The elders of Simeulue firmly believe that smong is a heritage that must be safeguarded. An 80-year-old community elder expressed his hope for future generations to keep smong alive.

    As long as the ‘smong’ story exists, we will remain safe. But if this story is lost, we will lose our most precious wisdom and treasure.

    To keep smong alive, educators and community leaders are looking to the future. Some propose integrating smong into school curriculum, ensuring every child knows its lessons. A teacher said.

    ‘Smong’ isn’t just a story. It’s a life-saving guide that must be passed on to every generation.

    Technology can also be an important means of preserving the native understa. Digital videos, disaster simulations, and interactive storytelling could bring smong to a tech-savvy audience, making it relevant today.

    As we hope these approaches will bridge the old tradition with modern needs, smong transformation highlights that it is not just a relic from the past. Its narrative must evolve to adapt to the times, ensuring its treasured knowledge remains alive amid social changes.

    In the face of ongoing disaster threats, particularly in Indonesia’s Ring of Fire, smong offers a valuable lesson on how preserving local wisdom can form the foundation for disaster preparedness.

    Alfi Rahman receives funding from the Ministry of Education, Culture, Research and Technology of Indonesia for this research (grant number 0168/E5/PG.02.00.PL/2023 and 094/E5/PG.02.00.PL/2024).

    Muzayin Nazaruddin tidak bekerja, menjadi konsultan, memiliki saham, atau menerima dana dari perusahaan atau organisasi mana pun yang akan mengambil untung dari artikel ini, dan telah mengungkapkan bahwa ia tidak memiliki afiliasi selain yang telah disebut di atas.

    – ref. From pop songs to baby names: How Simeulue Island’s ‘smong’ narrative evolves post-tsunami – https://theconversation.com/from-pop-songs-to-baby-names-how-simeulue-islands-smong-narrative-evolves-post-tsunami-246153

    MIL OSI – Global Reports –

  • MIL-OSI China: Experts analyze China’s economic development potential

    Source: China State Council Information Office

    Attendees take part in the Caijing Annual Dialogue 2024 in Beijing, Dec. 20, 2024. [Photo by Yang Chuanli/China.org.cn]

    The Caijing Annual Dialogue 2024, organized by Caijing Magazine, was held in Beijing on Dec. 20. Themed “The Power of Navigating Changes,” the event focused on topics such as expanding domestic demand and boosting China’s capital markets. 

    In the current international context, the Russia-Ukraine conflict remains unresolved, and geopolitical tensions in the Middle East continue to escalate. Notably, the re-election of Donald Trump has introduced new uncertainties to the global political and economic landscape, as well as to China-U.S. relations.

    Numerous experts gathered at the dialogue to analyze the opportunities present in the current economic climate. 

    Yao Jingyuan, a researcher at the Counsellors’ Office of the State Council, emphasized the critical importance of expanding domestic demand and leveraging China’s vast domestic market for economic development. He elaborated, “China possesses the world’s largest domestic demand market, which lays a solid foundation for sustained economic growth and strong support in addressing external challenges.”

    Zhang Bin, deputy director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, highlighted the importance of comprehensively expanding domestic demand. He noted the enormous potential for investments aimed at improving people’s livelihoods and enhancing their quality of life.

    The current overcapacity in manufacturing reflects a need for quality improvement rather than just surplus quantity, Zhang said, and therefore public investment should be focused more toward public service projects. For instance, there are substantial gaps in infrastructure related to culture, entertainment, health care services and sports facilities, which are critical to people’s quality of life, he said. Meanwhile, although the financial sector holds a significant share of GDP, it still falls short in supporting small- and medium-sized enterprises and high-risk services, which are areas that require improvements in service supply.

    Professor Li Daokui, dean of the Academic Center for Chinese Economic Practice and Thinking at Tsinghua University, made an optimistic forecast of an “economic temperature rise” for China’s economy in 2025. He pointed out three main aspects where China’s economy holds immense potential. First, the country’s demographic advantage brings enormous market potential. Second, the national savings rate at 40% is among the highest globally, providing a stable source of funding for the investments needed for economic growth, making it one of the key drivers of sustained economic development. Third, the research and development capabilities in applied research are robust. 

    Although some countries have advantages in original achievements, Li explained that China, with its substantial number of engineering and technical graduates — 4.4 million annually, more than the total of similar talent in other countries — demonstrates strong competitiveness in the application and transformation of technological innovations, driving high-quality economic development.

    Li also emphasized that China’s economic policy will clearly focus on restoring growth rates and initiating a new growth cycle in 2025. He said, “We scholars should take on the responsibility to collaboratively strive in 2025 to promote stronger, faster and more effective policy adjustments, enabling the economic climate to swiftly shift from cold to warm, with expectations for continuous economic growth in 2026 and 2027.”

    MIL OSI China News –

  • MIL-OSI United Kingdom: Coventry and Warwickshire residents urged to reach out this Christmas

    Source: City of Coventry

    While the festive period is a time of celebration and connection, it can be lonely for some.

    Local organisations are urging residents to reach out to those who may be feeling isolated this Christmas, whilst raising awareness of the support available to help them.

    To encourage the importance of looking after our mental health throughout the winter, Coventry and Warwickshire Partnership NHS Trust (CWPT), local councils and other local organisations are raising awareness of the effects of loneliness and highlighting the support available to those who are struggling.

    Loneliness can impact on both mental and physical health. Research has shown that the longer someone feels lonely or isolated, the worse the impact on health and wellbeing.

    Money struggles, often compounded during the winter months with high fuel bills and other financial pressures, can further increase stress and impact on loneliness as it reduces how often people can see others, and their general wellbeing.  

    Residents can look after their own and their loved one’s mental health and combat loneliness this Christmas, by:

    • Reaching out to friends and family who may feel isolated or find this time difficult due to ill health or bereavement. Call, visit or invite them to join you for events if you are able. Make sure they are aware of events taking place in the area that they could attend
    • Considering joining groups or classes, focusing on things you enjoy doing
    • Visiting places where you can be around others, such as the park, cinema, or café
    • Reaching out to support services such as NHS Coventry, Warwickshire and Solihull Talking Therapies if you or your loved one are struggling with anxiety or depression
    • Reaching out to Citizens Advice for financial support and advice

    There are a number of local organisations who support residents through events and community groups:

    Sonya Gardiner, Chief Operating Officer at CWPT, said: “This Christmas, we are urging residents to check in with those around you and remind them that there is help and support available. We know that people can find it hard to ask for help which is why we are encouraging residents to take the first step to reach out to those who may be feeling alone.

    “If you’re struggling with anxiety or depression, we are on hand to provide help and support. NHS Coventry, Warwickshire and Solihull Talking Therapies offer a self-referral programme. Get started online at talkingtherapies.covwarkpt.nhs.uk or call directly on 024 7667 1090.”

    Cllr Kamran Caan, Cabinet Member for Public Health and Sport, at Coventry City Council, said: “This time of year it’s even more important to look after our own health and the health and wellbeing of others.

    “Just checking in on a neighbour or contacting a friend can make all the difference. There is lots of support available and we want to make sure that people who are struggling know there are always groups, organisations and people that they can turn to.”   

    Councillor Margaret Bell, Portfolio holder for Adult Social Care and Health said: “Christmas can be a wonderful time of year, but the added pressures it puts on people means it can be a challenging and lonely time for many.

    “There is a wide range of support services accessible to anyone who is feeling low, stressed, overwhelmed or struggling with their mental health. Please open up to other people, go online, pick up the phone or meet with support workers who are there to help those in need during the festive season. Please do reach out for help and support within Warwickshire.”

    There are many resources available and support on offer across Coventry and Warwickshire for anyone who is struggling throughout the winter months:

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Government completes review of investigation findings submitted by Airport Authority Hong Kong on incident regarding Automated People Mover system at Hong Kong International Airport

    Source: Hong Kong Government special administrative region

    Government completes review of investigation findings submitted by Airport Authority Hong Kong on incident regarding Automated People Mover system at Hong Kong International Airport
    Government completes review of investigation findings submitted by Airport Authority Hong Kong on incident regarding Automated People Mover system at Hong Kong International Airport
    ******************************************************************************************

         With regard to an incident on November 21 last year in which a young passenger was suspected to have stepped into a gap between a platform and the train of the Automated People Mover (APM) system at Hong Kong International Airport, the Government is highly concerned about the incident and has completed the review of the investigation report and relevant supplementary information submitted by the Airport Authority Hong Kong (AAHK) as requested by the Government.     On system safety, the AAHK’s investigation did not find any systematic safety issues with the APM system. Infrared devices are installed at the platform screen doors (PSDs) and train doors such that when it detects that a passenger or obstacle has been trapped between the PSD and the train door, the system will instruct the PSDs and the train doors to remain open. Meanwhile, when the PSDs or train doors cannot close properly due to an obstruction, the system will instruct the train not to depart and an alert will be issued to the controllers in the Integrated Airport Centre simultaneously. Furthermore, the AAHK commenced a project to narrow the gap between the platform and the train in mid-2023 and completed it in June this year, which will serve to prevent passengers from stepping into the platform gap. The Electrical and Mechanical Services Department (EMSD) has confirmed that the APM system is safe in its design and operation.     On notification of incidents, according to the Airport Authority (Automated People Mover) (Safety) Regulation (Cap. 483C), the AAHK shall give notice to the Government of every accident and occurrence on the APM of a type described in the Schedule to Cap. 483C, which includes an incident in which a person falls between a train and a platform.     The AAHK conducted a thorough and in-depth investigation into the incident and found no evidence of a cover-up of the incident by any staff. It admitted that the scope of the first investigation, conducted by the AAHK’s relevant department early this year, was not thorough enough to identify the incident early. According to the investigation of the AAHK, after the young passenger stepped into the gap between the platform and the train, other passengers immediately pulled her out of the gap. Since train doors were closed as scheduled, the system alert was not triggered. The AAHK did not receive any complaint or injury report filed by the passenger concerned or her family at that time. That said, the AAHK admitted that there was lack of clarity in the APM Operation and Emergency Procedure Manual, and a lack of alertness in reporting and communication among the frontline staff concerned, resulting in the incident not being properly recorded at that time. Therefore, the relevant staff of the AAHK failed to identify the incident in time and report it to the Government.     The Government notes that the AAHK has already taken disciplinary actions against the relevant staff, and has seriously requested the AAHK to implement the following improvement measures to prevent a recurrence of similar incidents:(i) Strengthening of the incident notification mechanism: updating the APM Operation and Emergency Procedure Manual and arranging relevant training for frontline staff to enhance staff awareness in handling and recording incidents, which will enable the relevant departments of the AAHK to notify the Government according to the records;(ii) Enhancement of the incident investigation mechanism: arranging a dedicated department to co-ordinate investigations and follow-up actions in relation to incidents or potential incidents related to APM passenger safety in order to ensure all future incidents or potential incidents would be investigated in a thorough and comprehensive manner; and(iii) Enhancement of the CCTV system at the platform: adjusting and enhancing the CCTV set-up at the platform to cover more viewing angles, with a view to facilitating the detection and investigation of APM incidents by staff.      ???The Government notes that the AAHK enhanced the incident investigation mechanism immediately and has been actively implementing the other two improvement measures, which include finishing the updating of the APM Operation and Emergency Procedure Manual and arranging relevant training next month to strengthen the incident notification mechanism, and completing the enhancement of the CCTV system at the platform by March next year. The Government will closely monitor the AAHK’s progress of implementation. The EMSD has also confirmed that the APM system is safe in its design and operation, and that the aforementioned narrowing of the platform gap and enhancement of the CCTV system will help prevent the recurrence of similar incidents.

     
    Ends/Monday, December 23, 2024Issued at HKT 17:53

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    MIL OSI Asia Pacific News –

  • MIL-OSI: Himax to Unveil State-of-the-Art WiseEye Module Solutions at CES 2025 Empowering Seamless AIoT Integration

    Source: GlobeNewswire (MIL-OSI)

    TAINAN, Taiwan, Dec. 23, 2024 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (“Himax” or “Company”) (Nasdaq: HIMX), an industry leader in fabless display driver ICs and other semiconductors, today announced that the Company and its AI ecosystem partners will unveil a suite of innovative, production-ready AIoT applications at CES 2025, powered by Himax’s groundbreaking ultralow power WiseEye Module solutions. These designs will showcase intuitive, user-friendly AI capabilities set to transform multiple industries by improving productivity, scalability, automation, and efficiency, all while delivering better performance and lower power consumption. Himax’s ultralow power WiseEye Module solutions are leading the AIoT revolution with their advanced, efficient, and scalable AI-driven technologies.

    The Himax WiseEye Module seamlessly integrates ultralow power WiseEye AI processors and proprietary always-on CMOS sensors, designed with compact form factors, high integration, and plug-and-play functionality. Characterized by remarkably low power consumption at just single-digit milliwatts, it is ideal for battery-powered endpoint devices that cater to everyday life. The WiseEye Module incorporates versatile AI models from in-house or third-party partners, enabling no-code/low-code AI development for use cases like people counting, gesture recognition, human detection, face recognition, and audio command classification. This simplifies the AI development process, reducing cost and time, allowing AI developers, even those with limited AI expertise, to easily integrate advanced AI features into their systems and applications. Given their versatility, WiseEye Modules are poised to become foundational technology for a wide range of IoT applications.

    At the event, a visionary and innovative lineup of ultralow power WiseEye Module solutions will be on display, showcasing their potential to revolutionize AI-powered applications across industries.

    • WiseEye PalmVein Module: Offers secure, reliable contactless biometric authentication by utilizing unique vein patterns, ensuring robust security and privacy through on-device inferencing
    • AI Baby Cry Detection Module: Accurately detects infant and child crying even in noisy environments, enhancing child safety and enabling timely, automated caregiving
    • Dynamic Gesture Module: Enables intuitive human-machine interaction, supporting a wide range of static and dynamic gestures for seamless control, enhancing accessibility and convenience without the need for traditional input methods
    • Human Sensing Module: Provides precise and energy-efficient human presence detection, creating more responsive and convenient environments in smart homes and offices
    • People Flow Management Solution: Improves space optimization and operational efficiency by analyzing human movement patterns, enabling better resource planning and allocation

    More compelling joint demonstrations with ecosystem partners will also be showcased at the event, including the world-first AI agent SenseCAP Watcher developed with Seeed Studio, mixed reality eye-tracking solutions with Ganzin, and AI-enabled thermal sensing modules in collaboration with leading thermal sensor partners, among others.

    “Our WiseEye™ Modules are designed to drive innovation and enhance lives through advanced, seamless AI integration, all while consuming ultralow power,” said Mark Chen, Vice President of Smart Sensing Business at Himax. “At Himax, we are dedicated to advancing the future of AI vision with innovative, ultralow power, easy-to-adopt AI solutions, enabling seamless integration of advanced vision AI into diverse IoT applications that power the next generation of intelligent, connected devices, enhancing everyday life,” concluded Mark.

    Himax invites all interested parties to stop by our exhibition booth at The Venetian Las Vegas Hotel (3355 Las Vegas Boulevard S, Las Vegas, Nevada, U.S.A.) Venetian Tower Suite 34-208 to experience the Company and partners’ cutting-edge WiseEye Module solutions. To schedule a meeting or booth tour, please contact Himax at: Himax_CES2025@himax.com.tw.

    About Himax Technologies, Inc.

    Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEyeTM Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,683 patents granted and 390 patents pending approval worldwide as of September 30, 2024.

    http://www.himax.com.tw

    Forward Looking Statements

    Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2023 filed with the SEC, as may be amended.

    Company Contacts:

    Eric Li, Chief IR/PR Officer
    Himax Technologies, Inc.
    Tel: +886-6-505-0880
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

    Karen Tiao, Investor Relations
    Himax Technologies, Inc.
    Tel: +886-2-2370-3999
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

    Mark Schwalenberg, Director
    Investor Relations – US Representative
    MZ North America
    Tel: +1-312-261-6430
    Email: HIMX@mzgroup.us
    www.mzgroup.us

    The MIL Network –

  • MIL-OSI Global: House of the Dragon and families fighting for power – it can happen in business too

    Source: The Conversation – UK – By Bingbing Ge, Lecturer in the Department of Entrepreneurship and Strategy, Lancaster University

    While most agree that HBO’s hit fantasy show House of the Dragon (HotD) might be an interesting dive into the chaos of the Middle Ages, less has been said about its lessons for the contemporary business world.

    Though modern laws make sibling rivalries much more civilised (siblings don’t usually kill each other, nor do they have dragons), there are still many similarities between throne-claiming and today’s family battles over business leadership – especially when multiple siblings are involved.

    As a lecturer in entrepreneurship and strategy, I use the show – a prequel to Game of Thrones that sees siblings fighting to inherit their father’s throne – to illustrate the complications in family business succession.

    When succession of leadership in a business becomes an issue, it is important for the family to be clear about their direction. Important, and often difficult, conversations around which legacy, as well as the methods to achieve it, need to be agreed by all family members.

    The issue of succession is known to contribute to tension in famous family businesses, as seen with the Murdoch family. As one of the most prevalent forms of business worldwide, family businesses could certainly try to avoid conflict – and, in HotD’s case, a kingdom dispute – if successions were handled more carefully.

    In the show, King Viserys I Targaryen, played by Paddy Considine, is not a bad ruler, but when it came to succession planning there was so much more he could have done. By the time he had announced his daughter Rhaenyra (played by Emma D’Arcy) as heir, it was perceived that this decision was taken out of desperation, due to there being no male heir.

    Succession planning.

    Family business leaders typically have a stronger sense of ownership of the firm than non-family employees, which sometimes leads them to keep hold of leadership. While this is human nature, it is important for family business leaders, like kings are to their kingdoms, to remember their responsibility to the businesses’ prosperity and stability and to have a clear Plan B.

    The accession of an heir in a family business often sparks wide discussions, like in the case of Alexandre Arnault of luxury goods conglomerate LVMH. He was recently appointed at just 32 years old as deputy CEO of the group’s wines and spirits business Moët Hennessy. In the case of the heir Rhaenyra in HotD, her half-brother challenged her legitimacy to the throne, with strong support from stakeholders, (that is to say, the lords in the show) who believed that a son would make a more legitimate heir.

    In a family business, successors often need to legitimise their position and get the senior managers (like the lords in HotD), employees, and other stakeholders like customers (the “smallfolk” in the show), to accept the transition.

    While there are different stages of succession, research has shown that it extends far beyond the business arena to affect the lives of family members, with conflict spilling into other areas.

    In a family where everyone gets on, a succession can bind the next generations together – to the point where they might even quit jobs with other companies to carry on the family dream. But HotD portrays a dysfunctional family and intense sibling rivalry, as is also the case in another TV show, Succession.

    In HotD, the king’s first son Aegon (played by Tom Glynn-Carney) was groomed to be fearful and even hateful of his half-sister Rhaenyra and her children. The dysfunctional family life went on to haunt the children when succession discussions arose.

    The Targaryen family in HotD was divided by goals – with Viserys’ and Rheanyra’s side aiming to continue the Targaryen reign, and the king’s second wife Alicent (played by Olivia Cooke) and Aegon’s side trying to maintain primogeniture (where succession goes to the first-born child) and purity in the bloodline. Competing goals are often paradoxical and can be unsettling for stakeholders in family businesses.

    The role of women

    In the show, there are instances where the roles and desires of female characters are marginalised. The role of women in family businesses has also traditionally been overlooked.

    But female family business members are often more important than their titles in the business suggest, where their role in the family in maintaining traditions, values and harmony are sometimes more central.

    HotD demonstrates how the sometimes quieter female voices can influence the succession through the use of a variety of strong female characters. This is a helpful resource to illustrate how females might influence strategic decisions in family businesses.

    Women’s influence in the family and its business can sometimes go unrecognised. This could be particularly tricky in situations where multiple siblings (and even wives) are in competition, like the Majid Al Futtaim (MAF) retail and leisure empire, where ten family members had claims on the estate.

    Sibling rivalries and the challenge of female legitimacy in family business succession take centre-stage in HotD. The complex dynamics between heirs vying for power and the struggles faced by women in leadership roles echo the real-world tensions that often unfold in family-owned businesses.

    Viewers may be immersed in the sweeping political dramas of Westeros, but at the same time the series offers important contemporary lessons in managing family legacies, power struggles and succession planning.

    Bingbing Ge does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. House of the Dragon and families fighting for power – it can happen in business too – https://theconversation.com/house-of-the-dragon-and-families-fighting-for-power-it-can-happen-in-business-too-237377

    MIL OSI – Global Reports –

  • MIL-OSI Security: Renewed appeal in connection with murder of Fiona Holm

    Source: United Kingdom London Metropolitan Police

    The Met is renewing its reward of up to £20,000 for help finding the remains of a murdered woman, as her family face their second Christmas without her.

    The reward is on offer for information leading to the recovery of the remains of 48-year-old Fiona Holm.

    Fiona was last seen alive leaving a residential address in Verdant Lane, Catford, on 20 June, 2023. She was reported missing nine days later.

    Her partner, Carl Cooper, was jailed for life in July for her murder which took place in the living room of his flat in Broadfield Road, Catford. Cooper lied to Fiona’s family and police, and took extensive steps to cover up the killing. Fiona’s body has never been recovered.

    Cooper was also convicted of murdering another girlfriend, 41-year-old Naomi Hunte, who was found dead at her home in Woolwich in 2022.

    Detective Chief Inspector Kate Blackburn, who leads the investigation, said: “My team has carried out a huge amount of work to try to find Fiona, using specialist teams to search areas she was known to frequent, open spaces, bodies of water, houses, cars and lockups. Thousands of hours of CCTV has been seized and viewed, substantial mobile phone enquiries have been reviewed and hundreds of witness statements have been taken, including interviews with Fiona’s family and friends. Those efforts have continued since Cooper’s conviction.

    “This Christmas, our thoughts are with Fiona’s family, who are still waiting for answers almost two years after her tragic murder. Our thoughts are also with Naomi’s family at this difficult time.

    “I am appealing to anybody who may be able to assist the ongoing search for Fiona’s remains to come forward, no matter how insignificant you think your information could be. Perhaps now Cooper has been convicted, you feel able to come forward and tell us what you know or have heard.”

    Fiona’s family have described her as a kind and loving person, and say they are tormented by the lack of closure.

    Fiona’s daughter Savannah said: “This year is the second Christmas without my beloved mother. As the heartache still continues, the restless nights go on knowing that she has been out there this long, and no-one has come forward with any information, which I find disturbing.

    “The thought of us finding her remains is sickening to think about, but this would also bring my whole family peace.

    “My Nan has not been the same since. The only thing she worries about is where her daughter is, as she wants her to be found. Nan misses her daughter’s big heart and kind ways the most.”

    If you have any information, please contact the incident room on 020 8721 4005, or 999 if you need urgent police attendance. If you want to give your information anonymously, you can contact Crimestoppers on 0800 555 111.

    MIL Security OSI –

  • MIL-OSI Global: In the age of AI, Wallace and Gromit’s claymation style remains a festive favourite

    Source: The Conversation – UK – By Christopher Holliday, Senior Lecturer in Liberal Arts and Visual Cultures Education, Department of Interdisciplinary Humanities, King’s College London

    A new Wallace and Gromit adventure, Vengeance Most Fowl (2024), premieres on BBC One and Netflix this Christmas Day. It’s been nearly 20 years since the last feature film about Yorkshire’s favourite eccentric inventor and his above-intelligent pet dog, The Curse of the Were-Rabbit (2005).

    Aardman’s latest Christmas instalment marks the reappearance of Feathers McGraw, the mysterious and silent penguin villain from The Wrong Trousers (1993). It also represents the latest outing for the Bristol-based company’s signature stop-motion “claymation” style – which is both a symbol of the studio’s enduring relationship to craft, and a vital element of Aardman’s international identity as an animation powerhouse.

    A new era of artificial intelligence is threatening to transform the boundaries of what we understand as art. So it is significant that one of this year’s most highly anticipated festive films celebrates the skill and spirit of handmade animation.

    Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here.

    Aardman was founded in 1972. Over the last 50 years, the studio has cultivated a durable and worldwide reputation as a pioneer of animation as a handmade, craft-based art form.

    Both before and after its feature-film debut, Chicken Run (2000), the studio’s stop-motion approach was refined across an extensive range of animated projects and commissions. These included short films like Creature Comforts (1990), the first Aardman production to win an Academy Award, as well as an array of television idents, music videos and advertising campaigns.

    Such has been Aardman’s longstanding connection to claymation that when the Newplast company shut down in March 2023, sparking rumours of a shortage of its famous modelling clay, the studio issued a statement denying it was running out of materials, while assuring fans it would find a new supplier for future projects.

    The trailer for Wallace and Gromit: Vengeance Most Fowl.

    Aardman’s animated productions have been a staple of Christmas film and television since Wallace and Gromit creator Nick Park’s 30-minute short The Wrong Trousers debuted on Boxing Day 1993.

    So much so, in fact, that Aardman proclaims that it is “proud to be synonymous with Christmas”. The many television specials featuring old and new Aardman characters include the 30-minute Netflix Christmas shorts Shaun The Sheep: A Flight Before Christmas (2021) and Robin Robin (2021), as well as multiple “cracking” Christmas advertising campaigns.

    This Christmas season, that’s included the decorating of London’s Battersea power station with Aardman characters, and a collection of specially commissioned Christmas idents exclusively for the BBC.

    Aardman goes digital

    Despite a defining investment in the creative potential of claymation, the studio has occasionally dipped a toe into the the world of digital technology. A brief foray into computer-animated filmmaking in the early 2000s with Flushed Away (2006) and Arthur Christmas (2011) marked an ultimately short-lived creative partnership with DreamWorks Animation and Sony Pictures.

    While Aardman’s involvement with these renowned Hollywood companies pushed the studio away from its house style and ushered in a new kind of big-screen humour, in design at least, these films retained their quintessential Aardman “look”. But though these characters appeared firmly from the Aardman stable (particularly in their recognisably exaggerated smiles), their animated perfection demonstrated the pristine visuals increasingly afforded by sophisticated computer graphics.

    Clearly, much like Wallace, Aardman animators aren’t immune to the thrill of technological innovation. But they have still largely maintained their claymation methods of production, to instil in audiences the many pleasures of doing things by hand.

    The glimpse of fingerprints accidentally pressed into the modelling clay, coupled with the jerky movements of their plasticine characters, emphasises that Aardman methods remain far removed from modern technology. Craft and the handmade are therefore as much business strategies as they are aesthetic choices, deployed to sell the Aardman brand around the world.

    After a hiatus of almost 20 years, the imminent return of Wallace and Gromit to British screens seems a pointed reflection on the virtues of the handmade, against the acceleration of AI within the film industry.

    With Vengeance Most Fowl telling the story of a rogue automatic garden gnome, Aardman is seemingly questioning a future built from computerised (and potentially dangerous) automation. By preserving the artisanal and anchoring its very British charm once again to the hand-crafted, slightly imperfect models that populate these stop-motion animated worlds, it seems that, for Aardman at least, computers are not always what they are cracked up to be.

    Christopher Holliday does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. In the age of AI, Wallace and Gromit’s claymation style remains a festive favourite – https://theconversation.com/in-the-age-of-ai-wallace-and-gromits-claymation-style-remains-a-festive-favourite-246070

    MIL OSI – Global Reports –

  • MIL-OSI: BTCC Exchange Celebrates OG Week 2 with Exclusive FLOKI AMA on X Spaces

    Source: GlobeNewswire (MIL-OSI)

    VILNIUS, Lithuania, Dec. 23, 2024 (GLOBE NEWSWIRE) — BTCC, one of the longest-standing cryptocurrency exchanges, recently hosted an engaging AMA (Ask Me Anything) session on X Spaces featuring FLOKI, one of the original meme coins in crypto.

    The AMA was part of BTCC’s “OG Week” campaign, where iconic long-term meme coins are spotlighted and celebrated. Pedro Vidal, Community Relations Officer for Floki and TokenFi Blockchain, joined the session to discuss FLOKI’s vision for 2024 and beyond.

    The AMA was a resounding success, with over 1,500 crypto enthusiasts tuning in to explore FLOKI’s journey, and check out some big developments landing this coming year. Anyone interested in listening back can check out the AMA here

    Highlights of the Discussion

    The AMA covered many points, and gave a deep insight into FLOKI’s history, position in the crypto market, and some exciting points for 2025:

    Topic 1 – FLOKI’s Inception

    Topic 1 covered FLOKI’s inception, and discussed how FLOKI was born from a tweet from Elon Musk in 2021. Though the coin initially suffered rug pulls from the team who initially launched the project, it has now become a community-led project.

    FLOKI is now governed by a DAO, leaving the ownership and direction of the token in the hands of the community. The DAO is important as it aligns closely with the current team’s focus on community feedback, utility and transparency, and dedication to the success of the project – and also to avoid the pitfalls from the initial launch of the coin.

    Topic 2 – FLOKIs Blockchain Gaming Platform

    Topic 2 focused on the big ticket success on FLOKI – Valhalla. The crypto household name game took the market by storm and features all the hallmarks of a global superstar – from an easy-to access, browser-based design, and global accessibility, everyone inside the FLOKI community is excited about the future of Valhalla.

    “The idea is to continue to improve and leave blockchain forever changed.”

    – Pedro Vidal, on Floki’s Valhalla Metaverse game

    Topic 3 – FLOKI Debit Card and Trading Bot

    Another hot topic on the agenda was the FLOKI debit card, which now offers crypto enthusiasts a way to spend their crypto across 8 different chains, with 0% transaction fees. The cards are available in both physical and virtual forms, which is another step toward FLOKI’s vision of a more financially enabled world, powered by memecoins.

    FLOKI have also released their Telegram trading bot, aiming to streamline the trading experience, all from inside users’ telegram accounts. The bot supports multiple chains and is live now!

    Topic 4 – 2025 and Beyond

    For 2025, Pedro emphasized the importance of staying true to the project’s values of transparency and utility, and managing and promoting growth were emphasized – however 2025 shapes up for FLOKI, the ecosystem looks set for a rapid expansion.

    FLOKI is available on BTCC for spot and futures trading. Up to 50x leverage is supported, and as one of the hottest meme coins on the platform, interest looks set to build for the coming season.

    BTCC OG Week

    To celebrate the OG meme coins that laid the foundations for the current cycle’s top gainers like DOGE, FLOKI, and PEPE, BTCC Exchange has announced the BTCC OG Week campaign, where meme fanatics can undertake social and trading tasks to win USDT rewards, with a prize pool of 300 USDT and 300 USDT in withdrawable rewards each week.

    Week 1, which saw BTC in the limelight has already concluded, and winners of the trading competition have already been announced on BTCC’s X page.

    BTCC continues its OG Week campaign with the featuring DOGE, and there’s plenty more amazing content to come.

    Going forward, BTCC have scheduled more AMAs and special features on other long-term meme coins. To stay updated on future campaigns and win exclusive rewards, follow BTCC’s X account.

    For additional information, visit BTCC’s website or follow BTCC and Floki on X.

    Media Contact Details
    Contact Name: Aaryn Ling
    Contact Email: press@btcc.com

    About BTCC

    BTCC is a long-standing crypto exchange with over 13 years experience in the crypto space, and 0 security breaches. BTCC makes crypto trading easier with user-centric features that are sure to suit the needs of novice and advanced traders alike, wherever they are in the world.

    Disclaimer: This content is provided by BTCC. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/634ab0fe-7ecb-48c0-bc9d-f8c188a3fb50

    The MIL Network –

  • MIL-OSI Russia: “Best in Law”: prestigious legal award ceremony held in Moscow

    Translation. Region: Russian Federation –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    On December 19, the award ceremony for the winners of the annual HSE Faculty of Law “Best in Law” competition took place. This year, one of the main events of the country’s legal community was held in an unusual format, combining jurisprudence and art.

    Faculty of Law, National Research University Higher School of Economics

    This year’s winners of the competition include Deputy Speaker of the State Duma Boris Chernyshov (nominated for “Best Strategic Partnership”), writer Alexander Tsypkin (nominated for “Law in Art” – for creating a lyrical female image of a lawyer in the TV series “What Should a Woman Do If…”), First Vice President of Gazprombank Ekaterina Salugina-Sorokova (nominated for “Best in the Alumni Community”), retired Chairman of the Supreme Arbitration Court of the Russian Federation Anton Ivanov, as well as representatives of the teaching staff and students.

    “I have warm student memories of HSE University – it is my alma mater. We all remain a big family, so receiving such an award from the faculty is especially valuable. Developing strategic partnerships with educational institutions continues to be one of the key tasks of the state: in this way, we not only attract the best young personnel, but also strengthen the training of lawyers, and the HSE Law Faculty is the undisputed leader in the quality of education,” said Deputy Speaker of Parliament Boris Chernyshov.

    The winners and guests were treated not only to the ceremony itself, but also to excursions into the history of painting. Paintings from the collection of the Pushkin Museum, a partner of the HSE Faculty of Law, emphasized the theme of each nomination.

    The awards were presented by the Dean of the Faculty of the National Research University Higher School of Economics Vadim Vinogradov, Vice-Rectors of the HSE Irina Martusevich and Alexey Koshel, First Deputy Chairman of the Council of the Federation of the Russian Federation Andrey Yatskin, Deputy Chairman of VEB.RF Daniil Algulyan, Deputy Head of the Federal Service for Supervision in Education and Science Sergey Rukavishnikov, Managing Director of the Legal Department of Sberbank PJSC Nadezhda Tretyakova and others.

    “It is always a pleasure to reward the best, especially since the competition for the honorary title of “Best in Law” is high. Over the past few years, we have managed to build strong partnerships with representatives of government institutions, businesses, and cultural institutions at the faculty: this way, we not only enrich our own expertise, but also demonstrate in practice what impressive results can be achieved through joint work,” added Vadim Vinogradov, Dean of the HSE Faculty of Law.

    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: Tower Semiconductor Releases 300mm 65nm 3.3V-Based BCD Power Management Platform

    Source: GlobeNewswire (MIL-OSI)

    Delivering high-efficiency power, high-performance analog, and high-density digital in a single power management platform for mobile, AI, and data center applications 

    MIGDAL HAEMEK, Israel, December 23, 2024 – Tower Semiconductor (NASDAQ/TASE: TSEM), a leading foundry of high-value analog semiconductor solutions, today announced its new 300mm 65nm 3.3V-based BCD Power management platform, PML, in addition to its successful 5V-based offering already in high-volume production in Japan and that which is being qualified in Albuquerque, New Mexico, USA, manufacturing site. This new, cutting-edge platform addresses the stringent low-voltage requirements of mobile devices and meets the growing demands for high power efficiency and power density in AI and data center applications.

    The advanced 300mm BCD PML offering comprises LDMOS devices with ultra-low on-resistance and best-in-class figure-of-merit, achieving highest power conversion efficiency for fast switching converters. In addition, it features power devices with wide voltage range and a nominal 3.3V gate voltage that can be substantially overdriven and underdriven addressing products such as PMIC, Audio IC, and high-power voltage regulators for GPU and CPU. These advantages enable users to achieve outstanding performance in power consumption and extend battery life in battery operated applications.

    “Our new PML platform exemplifies Tower Semiconductor’s continuous success in providing cutting-edge power management technology solutions,” said Shimon Greenberg, General Manager of Power Management Business Unit. “Specifically designed for advanced power management applications, this innovation empowers our customers to develop industry-leading products with a competitive edge that address the evolving demands of the strategic mobile, AI, and data center markets”.

    For additional information on Tower’s PM technology platform, please visit here.

    About Tower Semiconductor         

    Tower Semiconductor Ltd. (NASDAQ/TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, provides technology, development, and process platforms for its customers in growing markets such as consumer, industrial, automotive, mobile, infrastructure, medical and aerospace and defense. Tower Semiconductor focuses on creating a positive and sustainable impact on the world through long-term partnerships and its advanced and innovative analog technology offering, comprised of a broad range of customizable process platforms such as SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, non-imaging sensors, displays, integrated power management (BCD and 700V), photonics, and MEMS. Tower Semiconductor also provides world-class design enablement for a quick and accurate design cycle as well as process transfer services including development, transfer, and optimization, to IDMs and fabless companies. To provide multi-fab sourcing and extended capacity for its customers, Tower Semiconductor owns two facilities in Israel (150mm and 200mm), two in the U.S. (200mm), two in Japan (200mm and 300mm) which it owns through its 51% holdings in TPSCo, shares a 300mm facility in Agrate, Italy, with ST as well as has access to a 300mm capacity corridor in Intel’s New Mexico factory. For more information, please visit: www.towersemi.com.

    Safe Harbor Regarding Forward-Looking Statements

    This press release includes forward-looking statements, which are subject to risks and uncertainties. Actual results may vary from those projected or implied by such forward-looking statements. A complete discussion of risks and uncertainties that may affect the accuracy of forward-looking statements included in this press release or which may otherwise affect Tower’s business is included under the heading “Risk Factors” in Tower’s most recent filings on Forms 20-F and 6-K, as were filed with the Securities and Exchange Commission (the “SEC”) and the Israel Securities Authority. Tower does not intend to update, and expressly disclaim any obligation to update, the information contained in this release.

    Tower Semiconductor Investor Relations Contact: Noit Levy | +972-4-604-7066 | noitle@towersemi.com
    Tower Semiconductor Company Contact: Orit Shahar | +972-74-7377440 | oritsha@towersemi.com

    Attachment

    The MIL Network –

  • MIL-OSI: Bitget Partners with Fiat24 to Advance PayFi Solutions for Crypto

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Dec. 23, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced a strategic partnership with Fiat24, a Swiss-regulated fintech company that develops modern banking solutions powered by blockchain technology. The collaboration focuses on exploring PayFi solutions for major cryptos like Ethereum (ETH) and Bitget Token (BGB), as well as stablecoins such as USD Coin (USDC). This initiative aims to provide seamless, efficient, and secure payment solutions that bridge traditional and decentralized financial ecosystems.

    Bitget has recently made significant progress in the PayFi space with the launch of services such as Bitget Pay and Bitget Card. Bitget Pay enables low-fee, instant crypto payments, while the Bitget Card allows users to seamlessly convert crypto into fiat for real-world transactions using a globally accepted debit card.

    Fiat24, on the other hand, offers a regulated Swiss-based payment system to users across 65 countries and regions, providing access to a crypto-friendly Swiss offshore bank account paired with a Mastercard debit card. This blockchain-driven approach ensures transparency, security, and user ownership.

    The partnership between Bitget and Fiat24 combines Bitget’s comprehensive crypto ecosystem with Fiat24’s innovative infrastructure. Together, they aim to expand the use cases for ETH, BGB, and stablecoins, driving accessibility and adoption of PayFi solutions globally.

    “We are excited to collaborate with Fiat24 to advance crypto payments and simplify access to financial services for users worldwide, especially the unbanked,” said Gracy Chen, CEO at Bitget. “PayFi will be one of Bitget and BGB’s long-term strategies and a key approach to enhancing the real-world impact of crypto assets. Together with our partners, we envision a future where crypto payments become the norm.”

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

    Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e693ef7b-cac1-4f78-9c91-fcb74f563615

    The MIL Network –

  • MIL-OSI Asia-Pac: Airport probe report reviewed

    Source: Hong Kong Information Services

    The Government has reviewed an investigation report by the Airport Authority (AAHK) regarding an incident in November last year involving the Automated People Mover system (APM) at Hong Kong International Airport.

     

    On November 21, 2023, a young passenger using the APM system was suspected to have stepped into a gap between a platform and a train.

     

    With regard to system safety, the authority’s investigation did not find any systematic safety issues with the APM system.

     

    Infrared devices are installed at the platform screen doors (PSDs) and train doors, such that when a device detects that a passenger or obstacle has been trapped between a PSD and a train door, the system will instruct the PSDs and the train doors to remain open.

     

    The AAHK also completed a project in June this year to narrow the gap between platforms and trains, thereby serving to prevent passengers from stepping into the platform gap.

     

    The Electrical & Mechanical Services Department has confirmed that the APM system is safe in its design and operation.

     

    In relation to notification of incidents, the AAHK will give notice to the Government of any incident in which a person falls between a train and a platform, in accordance with the relevant regulations.

     

    The AAHK conducted a thorough and in-depth investigation into the incident and found no evidence of a cover-up by any staff. It admitted that the scope of its first investigation, conducted early this year, was not thorough enough.

     

    The AAHK’s investigation found that after the young passenger stepped into the gap between the platform and the train, other passengers immediately pulled her out of it. As the train doors were closed, as scheduled, no system alert was triggered. The AAHK did not receive any complaint or injury report filed by the passenger or her family at that time.

     

    That said, the AAHK admitted that there was lack of clarity in the APM Operation & Emergency Procedure Manual, and a lack of alertness in reporting and communication among frontline staff, resulting in the incident not being properly recorded at that time.

     

    As a result, AAHK staff failed to identify the incident in time and report it to the Government.

     

    The Government noted that the AAHK has already taken disciplinary actions against the relevant staff. It requested that the authority implement improvement measures to prevent similar incidents from occurring again.

     

    It also noted that the AAHK has enhanced its incident investigation mechanism and has been implementing two other improvement measures.

     

    One of these involves finishing updates to the APM manual and arranging relevant training next month to strengthen the incident notification mechanism. The other involves completing the enhancement of the CCTV system on platforms by March next year.

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Facilities for Family Entertainment Reconstructed with FEMA Funds

    Source: US Federal Emergency Management Agency

    Headline: Facilities for Family Entertainment Reconstructed with FEMA Funds

    Facilities for Family Entertainment Reconstructed with FEMA Funds

    Guaynabo, PUERTO RICO — To have family entertainment spaces where people can enjoy safe places to gather, especially during the holiday season, is part of Puerto Rico’s integral recovery. That’s why the Federal Emergency Management Agency (FEMA) obligated $3.1 million to repair the Southern Coast Boardwalk in Juana Díaz, and the floating dock and gazebos in Ceiba.“These recreational areas provide spaces for families to share. They benefit their residents as well as all local and international visitors who enjoy their cultural and gastronomic offering, in addition to promoting the economy of the municipalities,” said Federal Disaster Recovery Coordinator José Baquero.According to Carimelys Alvarado, the Culture, Arts and Tourism director for the municipality of Juana Díaz, the boardwalk located in the Camboya community has great tourist value, as well as merchants and fisherfolk who contribute directly to economic development. Besides having gastronomic alternatives, they also host musical and family events. The boardwalk was established in 2000 and it welcomes up to 500 people during the weekends.“This is one of our great contributions to the economy, culture and tourism. As natives from Juana Díaz, this project was like a diamond for us. I remember the inauguration, when we got goosebumps because our coast is so important. This project marks an emphasis on our economic development,” Alvarado said.For the merchants, the repairs have meant receiving more customers, encouraged by how beautiful the facilities are now. This was confirmed by business owner Rubén Figueroa Ortiz. “This boardwalk repair has benefited us a lot, especially the businesses. Now we have a higher attendance. I am the oldest merchant here, with many years of service, and I feel very proud to have this opportunity right now,” he added.Some of the already completed repairs with an allocation of nearly $2.9 million include the replacement of aluminum panels, repairs to the asphalt surface, concrete piers and sidewalks, exterior electrical outlets, lighting fixtures and stairs, and the installation of a concrete retaining wall in the waterfront boardwalk area.Mitigation measures were carried out with nearly $937,000 within the same allocation. For example, a geotextile filter fabric was added to prevent internal erosion; the piles were reinforced to make them resistant to strong waves and protect them from corrosion; and the wooden decking was replaced with PVC to increase its durability.The director of the Juana Díaz Recovery Office, José Plata, said that this project is one of the most important that the municipality has been able to complete after the impact of the hurricanes, “especially for the community, as part of its culture and traditions.”On the other hand, in Ceiba, the dock and the gazebos located at the Villa Pesquera on Los Machos Beach offer a sustainable alternative to maximize space for fisherfolk without damaging marine ecosystems, according to the director of the Municipal Office of Emergency Management, Eddie García.“Its innovative design allows it to adapt to the water level, reducing the environmental impact. In addition, it combines aquatic activities with a perfect setting for social and cultural events. You can enjoy a restaurant and kiosks with fresh seafood, typical Puerto Rican food and live music, as well as kayaking, paddleboarding and recreational fishing,” García added.The high-density plastic floating dock built in 2015 extends into the ocean and receives between 75 and 500 visitors per week. Both were severely damaged and dismantled by high winds and storm surge during Hurricane María.With an obligation of nearly $226,000, the municipality has already completed repairs to the pier and the 16 wooden gazebos in front of the beach ―dated from 1995― are in the planning phase. Part of the work included the replacement of the pier, the access and the replacement of the gazebos’ bases and roofs. As part of the hazard mitigation measures, the gazebos will be reinforced with anticyclonic anchoring and additional anchoring for the roofs at a cost of nearly $2,000.One of its regular visitors is Ana López, who uses the dock ramp for her boat. López describes it as “a meeting point for the fishing community and a unique tourist attraction that promotes the responsible enjoyment of natural resources, while strengthening the area’s cultural and economic identity.”Meanwhile, the executive director of the Central Office for Recovery, Reconstruction and Resiliency (COR3), Manuel A. Laboy Rivera, said that “recreational and sports facilities are an important element in the communities, as they promote the training of our athletes and foster the economic development of various sectors. These projects in Juana Díaz and Ceiba are in addition to another 1,236 works with investments totaling $446.6 million that are under construction in the 78 municipalities. Meanwhile, citizens already enjoy 970 completed works around the island representing $187.5 million. We reaffirm our commitment to continue assisting them in the execution of another 832 recreational facilities that are in the design or construction acquisition stage.”FEMA has allocated over $34.5 billion for Puerto Rico’s recovery from Hurricane María. Of this total funding, about $1.4 billion are earmarked for nearly 2,200 park and recreational facility projects throughout the island. For more information about Puerto Rico’s recovery,  visit fema.gov/disaster/4339, fema.gov/disaster/4473 and recovery.pr. Follow us on our social media at Facebook.com/FEMAPuertoRico, Facebook.com/COR3pr and Twitter @COR3pr.
    manuel.deleon
    Mon, 12/23/2024 – 11:33

    MIL OSI USA News –

  • MIL-OSI Russia: Head of the Department of Urban Development Yulia Yankovskaya took part in a discussion on the preservation of architectural monuments in St. Petersburg

    Translation. Region: Russian Federation –

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – Yulia Yankovskaya, TV presenter Lidiya Vielba and Alexey Mikhailov

    Head of the Department of Urban Development at SPbGASU Yulia Yankovskaya took part in the program “Petersburg – City of Solutions” on the TV channel “Saint Petersburg”. The program was dedicated to the preservation of the historical center and architectural monuments of the Northern capital.

    Together with Yulia Sergeevna, Alexey Mikhailov, Chairman of the Committee for State Control, Use and Protection of Historical and Cultural Monuments of St. Petersburg, spoke live on air. He spoke about amendments to the law on cultural heritage protection zones. According to this document, all pre-revolutionary buildings in the historical center of the city are currently under protection, and in other areas – buildings older than 1957.

    Yulia Yankovskaya explained why these dates were chosen. In her opinion, this is due to the fact that the pre-revolutionary building characterizes the center of our city, and in 1957 there was a transition to mass “Khrushchev” construction. But this does not mean that if the building was built later, it cannot be recognized as a monument.

    Alexey Mikhailov noted that sorting by date of construction throws valuable buildings of the Soviet period out of the protection zone. In addition, a large number of errors related to determining the dates of construction have accumulated. Thanks to the amendments, two new categories of buildings will appear – environmental and ordinary. At the same time, the category of historical buildings will also remain – it will include buildings that require study and are not included in either of the two lists.

    Who and by what criteria will form the lists, why the boundaries of protected zones do not coincide with the boundaries of districts, how many Soviet-era buildings will receive protected status – answers to these and other questions can be found in the TV program with the participation of a teacher from our university.

    Link to the program

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

    MIL OSI Russia News –

  • MIL-OSI Security: Met release photo after serious assault near Covent Garden

    Source: United Kingdom London Metropolitan Police

    Officers investigating the assault of two men in Westminster – leaving one with life-changing injuries – have issued an image of a suspect they are keen to trace.

    Police were called at 22.33hrs on Saturday, 12 October, by an off-duty officer, who reported being punched in the back of the head in Covent Garden, close to the Royal Opera House.

    The suspect then approached another man in nearby King Street and asked him for directions, before assaulting him. This man – aged in his 70s – was pushed to the ground, and suffered a bleed on his brain. He temporarily lost consciousness, and required 15 stitches to the back of the head.

    The officer, attached to the Central East Command Unit, was not injured.

    The suspect is described as white, around 5ft 9in tall, of medium build, and wearing a black jacket. He was last seen fleeing towards Bedford Street.

    The two victims are not known to each other, and, at this stage, there is no clear motive.

    Detective Sergeant Glenn Smith – attached to the Central West Command Unit – said: “This was a serious incident which left a man in his 70s with life-altering injuries.

    “The attacks were apparently random. We are appealing for witness accounts, or for any information that may assist the investigation.

    “In addition, we are releasing a CCTV image of a man police wish to speak to in light of the incident. Do you recognise him?”

    Anyone with information about either of the assaults should call 101, quoting CAD reference 7846/12OCT.

    To make an anonymous report, contact the independent charity Crimestoppers on 0800 555 111.

    MIL Security OSI –

  • MIL-OSI USA: 2024 in Review: EROS Celebrates Annual NLCD, Landsat 7’s 25-Year Mission

    Source: US Geological Survey

    This was a landmark year for the definitive land cover resource for the United States that’s produced at EROS: the National Land Cover Database (NLCD). The renamed Annual NLCD data release on October 24, 2024, debuted a new ability to look at land cover and land change year by year further back in time, from 1985 to 2023. 

    Landsat satellites continue to provide the foundational data for Annual NLCD, which includes six products. Work is underway to add 2024 data to Annual NLCD in 2025. Data access has expanded to the commercial cloud and the USGS website EarthExplorer.   

    More about Annual NLCD

    An example of LANDFIRE’s Existing Vegetation Type in Utah.

    The LANDFIRE (Landscape Fire and Resource Management Planning Tools) program celebrated a big milestone in 2024—its 20th anniversary of working to provide valuable national landscape data on vegetation, wildland fuel and fire regimes. 

    But the biggest news for the interagency program hosted at EROS was releasing its first truly annual update, LANDFIRE 2023 Update, and debuting a remarkably early preview of land disturbances, for most of 2023 at the end of January 2024. 

    EROS is always communicating about its latest innovations and improvements in science. Here are some key ways that happened in 2024:

    • Scientists traveled to multiple workshops, including Geo Week, JACIE and the annual meeting of the American Geophysical Union (AGU). In addition to presenting posters and talks, several of them earned awards for their work. See slideshow at left.
    • More than 100 EROS authors published 28 journal articles, 15 technical reports, 25 conference abstracts or posters and 55 data releases. Click below to learn more about a few highlighted topics.
    • Scientists from around the world use EROS data and science in their own research. Read stories spotlighting those studies below. 

    Publications and Data Releases

    Researchers Use EROS Data

    Animation of Landsat 7 images of Las Vegas, 1999-2024.

    Landsat’s claim to fame is its 50-plus-year history of Earth observation—and Landsat 7 was active for half of that time. In 2024 as Landsat 7 reached the end of its mission, EROS remembered the milestones during its lifespan. 

    We also celebrated the outstanding annual value Landsat provides for the United States ($25.6 billion!) and leaned into the satellite mission’s future with Landsat Next.  

    To scroll through our Landsat highlights for 2024, use the < and > arrows below. 

    EROS welcomed visitors from abroad as well as student researchers, interns and schoolkids this year—and even classic Dodge automobiles!

    New for 2024 is a six-screen interactive display in front of Computer Room 2, where our high-performance computers are located. Visitors can take a deep dive into the sophisticated world of data at EROS (but in a user-friendly way).

    Also new: The EROS Media Gallery now can be searched by spinning the globe and picking a location. Readers can find our updated State Mosaics, Image of the Week gallery, Earthshots, Earth as Art and other favorites via keyword, too.

    Read on for a review of what’s new in our imagery and videos, educational Earthshots and insightful podcasts.

    We don’t mind bragging—our Image of the Week videos are beautiful to watch! 

    But our 2024 additions also reveal real benefits of Landsat imagery and data, from new dams being filled to old dams being destroyed, from drought in Mexico to ice routes in Finland. 

    Don’t start clicking on the links below at bedtime—they’re endlessly fascinating! On the other hand, for a beautiful, restful sleep, try our new hourlong video featuring Landsat imagery and peaceful music.

    What happens during a Landsat pass? Listen to Episode 129 to learn more.

    Eyes on Earth is a podcast on remote sensing, Earth observation, land change and science. Our episodes in 2024 looked at Landsat’s past, its future, and how scientists apply the vast archive.

    Scroll across the images above or below to listen to some of our favorites. Here are some highlights:

    127: The Historic Landsat 7 Mission. We talked with some of the people who helped keep Landsat 7 flying during its nearly 25 years of land imaging.

    126: Annual NLCD. This new release includes land cover data of the United States for every year back to 1985.

    117: Preparing for Landsat Next, Part 1. Several people involved with the next Landsat mission talk about the details.

    114: The Color of Water with Landsat. An old data technique in freshwater science—physically sampling lake water—becomes reinvented using satellite technology.

    MIL OSI USA News –

  • MIL-OSI: Bigbank AS Financial Calendar for 2025

    Source: GlobeNewswire (MIL-OSI)

    Bigbank AS has confirmed the bank’s Financial Calendar for the 2025 financial year.

    In 2025, Bigbank plans to disclose information according to the following schedule:

    26.02.2025 Q4 2024 and unaudited full year results
    27.02.2025 January results
    05.03.2025 Audited results for 2024
    13.03.2025 February results
    24.04.2025 Q1 interim results
    08.05.2025 April results
    12.06.2025 May results
    24.07.2025 Q2 interim results
    14.08.2025 July results
    11.09.2025 August results
    23.10.2025 Q3 interim results
    13.11.2025 October results
    11.12.2025 November results

    Bigbank AS (www.bigbank.eu), with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 30 November 2024, the bank’s total assets amounted to 2.7 billion euros, with equity of 271 million euros. Operating in nine countries, the bank serves more than 150,000 active customers and employs over 500 people. The credit rating agency Moody’s has assigned Bigbank a long-term deposit rating of Ba1, as well as a baseline credit assessment (BCA) and adjusted BCA of Ba2.

    Argo Kiltsmann
    Member of the Management Board
    Tel: +372 53 930 833
    Email: Argo.Kiltsmann@bigbank.ee 
    www.bigbank.ee

    The MIL Network –

  • MIL-OSI Video: Breaking news from the #EUsummit !

    Source: Council of the European Union (video statements)

    Watch Spanish reporter Beatriz just before she goes live on TV with a breaking summit scoop.
    #EUsummit #backstage #leaders #EuropeanUnion

    https://www.youtube.com/watch?v=TO_bdcB_2gI

    MIL OSI Video –

  • MIL-OSI Asia-Pac: “Immersive Hong Kong” roving exhibition opens in Dubai (with photos)

    Source: Hong Kong Government special administrative region

    “Immersive Hong Kong” roving exhibition opens in Dubai (with photos)
    “Immersive Hong Kong” roving exhibition opens in Dubai (with photos)
    ******************************************************************************

         The “Immersive Hong Kong” roving exhibition opened in Dubai, the United Arab Emirates, today (December 20). This is the fifth stop of the exhibition, following its successful staging by the Information Services Department (ISD) of the Hong Kong Special Administrative Region Government in Jakarta, Indonesia; Bangkok, Thailand; Kuala Lumpur, Malaysia; and Guangzhou, China between July 2023 and August 2024.      Organised in collaboration with the Hong Kong Economic and Trade Office in Dubai (Dubai ETO), the exhibition is part of the ISD’s promotional campaign to showcase the city’s new attractions, advantages and opportunities. Themed “Hong Kong – Where the World Looks Ahead”, it invites visitors from the Middle East to explore the unique potential for tourism, business and investment in Hong Kong.      The Director of Information Services, Mrs Apollonia Liu, said Hong Kong has been actively expanding and deepening its overseas networks, including closer co-operation and engagement with the Middle East.      “The Chief Executive, Mr John Lee, and a number of Principal Officials have led delegations to visit the Middle East since last year to strengthen Hong Kong’s connections with the region, to tell good stories of Hong Kong, and to explore greater business opportunities.      “Building on the success of the previous runs of the exhibition, we are bringing it to the Middle East for the first time. We hope that the exhibition in Dubai will provide an opportunity for our friends in the region to understand more about our city and its unique potential,” she said.     Through interactive art technology, the “Immersive Hong Kong” exhibition enables visitors to delve into different virtual scenes representing the city with a creative twist. The five thematic zones, namely “Financial Bridgehead”, “I&T Brain Bank”, “Blossoming Creativity”, “Diversity and Greenery” and “Buzzing Sports Action”, feature multiple interactive art projections, light box installations and naked-eye 3D displays, presenting the multifaceted appeal of Hong Kong. There is a special introduction to the Kai Tai Sports Park, Hong Kong’s new state-of-the-art multi-purpose sports venue, which is set to officially open in the first quarter of 2025.      Visitors may also enjoy the city’s vibrant and colourful skyline, illustrated by Hong Kong artist Messy Desk (Jane Lee), at a photo corner in the venue. Promotional videos on Hong Kong and digital panels with information and insights shared by companies and prominent individuals from the Middle East about their experiences in Hong Kong are also on display, explaining why the city is one of the most desirable places to visit, live, work and invest.     To encourage more people to visit Hong Kong, an interactive game, “Snap a cool shot @Immersive Hong Kong”, is also part of the exhibition. Two winners will receive attractive prizes sponsored by Cathay Pacific. The winner of the Grand Prize will receive two round-trip business class air tickets from Dubai to Hong Kong, while the runner-up will receive two round-trip economy class air tickets on the same itinerary.     To give Middle East audiences a taste of Hong Kong’s cultural offerings, a pop music concert by SENZA A Cappella and a street dance performance by Move Beyond will be staged at the exhibition venue from today to December 22.     The exhibition is being held at The Beach, Jumeirah Beach Residence, a buzzing residential, shopping and dining complex in Dubai, until January 5, 2025. Admission is free, and visitors will be offered souvenirs during the event. In addition to Dubai ETO, other supporting organisations of this event include the Belt and Road Office of the Commerce and Economic Development Bureau, Hong Kong Talent Engage, Cathay Pacific, the Hong Kong Trade Development Council, the Hong Kong Tourism Board, and the Kai Tak Sports Park.      More information on the exhibition is available on the dedicated page on the Brand Hong Kong website (www.brandhk.gov.hk/en/campaign/hkpromotion-middle-east) as well as the website of Dubai ETO (www.hketodubai.gov.hk/en/index.html).

     
    Ends/Friday, December 20, 2024Issued at HKT 23:44

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Celebrate the Holidays with BTCC Exchange’s Christmas & New Year Bash: 1,000,000 Gold Coins Up for Grabs

    Source: GlobeNewswire (MIL-OSI)

    VILNIUS, Lithuania, Dec. 20, 2024 (GLOBE NEWSWIRE) — BTCC is spreading holiday cheer with its Christmas & New Year Bash, an exciting trading campaign running from December 19, 2024 to January 12, 2025. Traders can earn gold coins by trading select future pairs or making deposits, and the gold coins can be exchanged for trading fund rewards.

    As Bitcoin’s price recently surpassed the $100,000 milestone and optimism sweeps the market, trading volumes are surging. BTCC Exchange’s holiday campaign comes at the perfect time, allowing users to capitalize on market opportunities while enjoying rewards that help lower trading costs.

    Meme coins like PEPE, SHIB, and FLOKI have been making waves, and BTCC is encouraging users to trade these pairs to earn gold coins. Other popular trading pairs, including ADA/USDT and SAND/USDT, are also available in the campaign. Traders achieving a daily trading volume of at least 1,000 USDT can earn gold coins for consecutive daily trades, with up to 200 coins available for a daily trading streak of 24 days.

    Additionally, deposits of 1,000 USDT or more can earn users 60 coins per deposit, with a maximum of 5,000 coins available per user. The gold coins earned can be exchanged for trading fund rewards which can cover trading losses, trading fees, and funding fees when trading perpetual futures.

    “December has been a record-breaking month for BTCC in trading volume, and this campaign is our way of giving back to our loyal users,” said Alex, Head of Operations at BTCC Exchange. “The Christmas & New Year Bash rewards users while helping them make the most of this exciting period in the crypto market.”

    With Bitcoin approaching its 16th anniversary and BTCC soon celebrating 14 years as one of the longest-running exchanges in 2025, this campaign underscores BTCC’s commitment to providing rewarding experiences for its users.

    About BTCC

    Founded in 2011, BTCC is one of the world’s longest-serving cryptocurrency exchanges. Known for its secure, user-friendly, and innovative trading environment, BTCC remains a trusted platform for millions of crypto traders globally.

    Join the Christmas & New Year Bash campaign: https://www.btcc.com/market-promotion/bonus2/earnXmas/en-us

    Contact: press@btcc.com

    The MIL Network –

  • MIL-OSI United Kingdom: New safety measures installed at bus station to tackle ASB

    Source: City of Stoke-on-Trent

    Published: Friday, 20th December 2024

    Major improvement work is being carried at a Stoke-on-Trent bus station, making it safer, more comfortable and easier for passengers travelling around the city.

    New lighting, seating and CCTV is being installed at Longton Bus Station as part of the project which aims to improve the look of the station and reduce anti-social behaviour in the area.

    Part of the existing canopy which covers all nine stands at the bus station is also being removed to create more open space and improve visibility.

    In addition, information boards displaying real-time passenger information will be installed in the new year, during Stoke-on-Trent’s Centenary year.

    The work has been carried out in partnership with Staffordshire’s Police, Fire and Crime Commissioner. It has been funded by £46,409 of Government funding as part of the Safer Streets 5 programme.

    Councillor Majid Khan, cabinet member for community safety and resilience at Stoke-on-Trent City Council, said: “We are aware of some of the problems which have been reported in this area including dangerous driving, disorder, vandalism and criminal damage and we believe that these improvements will go a long way to combat these issues.

    “We are working with partners all over the city to design out crime in our town centres and this project is just one example of how we working together to make our city safer for all.”

    In addition to the work at Longton Bus Station, a separate package of improvements is being planned in the near future, funded by the Ministry of Housing, Community and Local Government.

    This work will include improved pedestrian links between the bus station and the neighbouring retail park, market and surrounding businesses.

    Ben Adams, Staffordshire Commissioner for Police, Fire & Rescue and Crime, said: “Funding from the Safer Streets project has been used across Staffordshire and Stoke-on-Trent to tackle anti-social behaviour which can blight our communities.

    “I hope that bus station users will feel much safer as a result of this work.”

    Stoke-on-Trent South MP Allison Gardner said: “The work at Longton bus station is just a small part of the work the council are doing to make the city safer for everyone.

    “Additional lights, cameras and the open plan bus station will provide better access and improve visibility to deter people from using the station for anti-social activities.

    “The Safer Streets funding will improve the streets, leading to a safer more accessible city. I hope everyone will feel the benefits of this.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: New Town ambition for Liverpool North

    Source: City of Liverpool

    Plans to redevelop one of Britain’s most deprived areas and to build more than 10,000 new homes have been set out by Liverpool City Council.

    A visionary submission for New Town status has been sent to the Department of Housing, Communities and Local Government for New Town status to expand the regeneration of the northern fringe of the City through to Bootle town centre.

    The new development – to be known as Liverpool North – would span 5km between Bootle and Liverpool and include Everton, Anfield and Kirkdale.

    The bold proposal would see the transformation of a number of brownfield sites, which would also lay the foundations for economic growth and sustainability, encompassing Everton FC’s new £500m stadium at Bramley Moore Dock and the £20m Bootle New Strand development project.

    Liverpool City Council has worked in collaboration with Sefton Council, Liverpool City Region Combined Authority, Homes England, and key landowners in the area to set out a 10-year vision for the area.

    The partnership could see the ambitious proposals revitalise communities blighted by high deprivation, unlocking economic potential for decades to come. The plan will focus on building on unused land, repurposing old buildings while maintaining and supporting communities that already call the area home.

    New Town status is a designation given to certain areas in the UK that are undergoing significant redevelopment. These areas are often characterised by a mix of old and new housing, commercial spaces and infrastructure. The goal of New Town status is to revitalise these areas and to make them more attractive places to live, work and play.

    Liverpool North is strategically located with existing transport links and presents a key opportunity for large-scale urban expansion and regeneration.

    Liverpool City Council is planning to accelerate housing development in the Liverpool North area through several key projects. These include:
    • Goodison Legacy: working with Everton Football Club and Everton in the Community, the Council is developing plans for the area around Goodison Park, including a new strategic walking and cycling route that will unlock key housing sites (“The Toffee Trail”).
    • County Road: proposals for County Road are also being developed, with a focus on linking Goodison to the new Bramley Moore Stadium.
    • Anfield: The Council is working with housing associations, commercial partners and Liverpool Football Club to bring forward housing and mixed-use development in the Anfield area, including a “Red Walk” connection.
    • Greatie Market: a £5 million investment in Great Homer Market is expected to stimulate increased housing development around the market.

    These projects are all linked to other major developments in the area, such as Liverpool Waters, Bramley Moore Dock, Ten Streets Creative District and Pumpfields.

    The Council has developed these transformational plans with the support of Everton Football Club, Everton in the Community and Liverpool Football Club, in addition to key landowners and place shapers in the area – including Torus, Riverside Group, and One Vision.

    The Liverpool North corridor represents a unique opportunity to marry urban development in Liverpool with regeneration plans in Bootle, creating a strategic city fringe location. This area currently faces significant challenges, including high deprivation, economic inactivity, and poor housing quality.

    The vision is to create a sustainable and attractive new community. This will be achieved through the building of high-quality housing with a significant proportion of affordable homes, investing in existing homes to improve quality and significantly improving transport infrastructure.

    Councillor Liam Robinson, Leader of Liverpool City Council, said: “These ambitious plans mark the beginning of an era of change and transformation for the whole Liverpool City Region. If given the go-ahead by the UK Government, Liverpool North will be a dramatic new landmark between the city centre and Bootle and provide a catalytic boost to the area.

    “The revitalisation of communities across a huge area, from Bootle through Kirkdale, to Anfield and Everton, will give the whole region a massive economic boost, provide thousands of affordable homes and create new districts providing employment, leisure and educational opportunities.

    “I can’t wait to see how this plan develops in the coming months and the difference it will make to our great City.”

    Councillor Marion Atkinson, Leader of Sefton Council, said: “We welcome the Government’s commitment to regeneration and this would super-charge our plans to transform Bootle and south Sefton for the benefit of residents and businesses.

    “We’ve already seen the impact that our work has had so far with the creation of the Salt and Tar entertainment venue along with plans to improve the Strand Shopping Centre so it becomes a modern town centre but this would take things on to another level.

    “We all know too well the challenges we have with some of the housing quality in the borough so this would also see huge improvements in the housing stock while improving our links into the city centre and beyond.

    “By working across the city region area there are so many opportunities for us to benefit from the significant investment on our doorstep through projects such as Everton’s new stadium and I’m excited to see how this develops.”

    Steve Rotheram, Mayor of the Liverpool City Region, said: “Our plans for North Liverpool and South Sefton is a perfect example of how the Liverpool City Region’s bold, joined-up thinking can help deliver on the government’s national missions, including the drive to build 1.5 million new homes. We’re not just about hitting targets for the sake of it; but transforming areas that have been left behind for far too long and showing the power of regeneration to improve lives.

    “Our vision aligns perfectly with what the country needs right now—thousands of high-quality, affordable homes that lay the foundations for strong, thriving communities. Working hand in hand with local councils, housing associations, and national partners, we’re proving that the Liverpool City Region is ready to lead the way again.

    “This will be about much more than bricks and mortar; it’s about giving people pride in their place, creating opportunities, and showing how ambition and collaboration can deliver real change. Together, we’re not just building houses—we’re building hope, ambition, and a brighter future for our region.”

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Heat Up This Holiday Streaming Season With New Festive Flicks and TV Picks on Samsung TV Plus

    Source: Samsung

     
    Thursday, December 20, 2024: This Christmas, Samsung welcomes a range of new content to bolster its free, festive line-up on Samsung TV Plus, as families settle in for the holiday streaming season.
     
    With over 200 live TV channels and thousands of movies and shows on demand, all for free, Samsung TV Plus offers a diverse range of premium programming to suit every taste this holiday season. No subscriptions, no downloads—just pure festive fun available across Samsung Smart TVs[1].
     
    Samsung is bringing the heat this Christmas with a wide range of content to suit every home’s festive viewing wishes. From viral YouTube interview show, Hot Ones, iconic Christmas classics on Festive Hub, the latest in trending K-content, festive foodie content from Jamie Oliver, and live sporting coverage on FIFA+ and the Tennis Channel, there really is something for everyone.
     
    Beyond the hundreds of free live TV channels spanning multiple genres like news, entertainment, sports, Samsung is also delivering top gaming action with the Samsung Gaming Hub – your gateway to over 3,000 cloud-enabled games, right from your TV[2].
     
    With leading services like XBOX Game Pass[3], NVIDIA GeForce NOW, and Amazon Luna integrated seamlessly, players can jump into their favourite titles instantly. Whether you’re battling through epic adventures, solving puzzles, or enjoying family-friendly classics, the Samsung Gaming Hub makes gaming more accessible and immersive than ever. It’s, perfect for holiday gatherings or solo play.
     
    Gus Grimaldi, Head of Samsung TV Plus EMEA, said: “At Samsung, we’re creating an all-in-one entertainment hub that offers something for everyone. From festive favourites and globally loved shows on Samsung TV Plus to immersive gaming experiences on the Samsung Gaming Hub, we’re providing families with choice and convenience this Christmas. Our goal is to make it easier than ever for people to come together, enjoy incredible content, and create lasting memories this holiday season.”
     
    Jordan Byers, Brand Marketing Lead at Samsung Electronics UK&I comments: “Our Christmas offering is just one of the many ways we’re committed to delivering more than just a TV. With advanced AI optimisation that provides the perfect picture and sound, to an ever-growing rooster of content to watch and play, we’re offering our customers more ways to enjoy and experience our products than ever before.”
     
    Samsung TV Plus Top Christmas Selects
     
    Festive Hub: the home of heart-warming holiday films
     
    Festive Hub delivers the essential Christmas experience for a range of audiences. With a line-up of many cheerful films such as snowy romances from Hallmark media and Lifetime entertainment, to great comedies, and animated specials. There are seasonal offerings for the whole family, perfect for cosy evenings by the fire.

    Hot Ones: the YouTube series heating up the holidays

    Dive into the globally beloved Hot Ones, where celebrities answer questions while enduring increasingly spicy wings. It’s the ultimate mix of laughs, spice, and surprising revelations to keep you entertained this Christmas, with its latest guests including Paul Mescal, Idris Elba, and Millie Bobbie Brown.
     
    The latest in K-Content: your gateway to global stories
     
    For fans of Korean dramas, movies, and variety shows, Samsung TV Plus brings the freshest K-content to your screen. Celebrate the holidays with gripping stories, high-quality productions, and globally trending series.
     
    Jamie Oliver cooking shows: festive inspiration for your Christmas feast
     
    Jamie Oliver’s beloved cooking shows are here to make your Christmas delicious. From traditional roasts to creative twists on festive favourites, Jamie brings expert guidance and accessible recipes for all.
     
    [1] Samsung Gaming Hub comes already available on Samsung Smart TV models from 2022, 2023 and 2024.
    [2] Internet connection, additional gaming service subscription and compatible controller required. Gaming Hub not available in Republic of Ireland.
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    MIL OSI Economics –

  • MIL-OSI: Unaudited Half-Yearly Financial Report

    Source: GlobeNewswire (MIL-OSI)

    FORESIGHT VENTURES VCT PLC
    (FORMERLY THAMES VENTURES VCT 1 PLC)

    Unaudited Half-Yearly Financial Report
    30 September 2024

    FINANCIAL HIGHLIGHTS

    £72.7m
    Total net assets
    as at 30 September 2024

    1.1p
    Dividend paid
    26 July 2024

    42.1p
    NAV per share
    as at 30 September 2024

    CHAIR’S STATEMENT

    “I present the Company’s unaudited Half-Yearly Financial Report for the six months ended 30 September 2024.”

    Post-period activity
    Before discussing the period to 30 September 2024, I would like to welcome our new Shareholders who have been issued shares in the Company as part of the merger with Thames Ventures VCT 2 plc (“TV2”). The merger completed on 15 November following a General Meeting held on 8 November. As part of the merger, the Company has been renamed Foresight Ventures VCT plc, and TV2 has been placed into members’ voluntary liquidation. I am also pleased to welcome Andrew Mackintosh, previously a director of TV2, who has now been appointed to the Board of the Company following completion of the merger.

    The Company’s Net Asset Value (“NAV”) per share has been reset to 100.0p and the merger has resulted in an enlarged company with net assets of £110 million. The Board believes this will bring a number of benefits to the Company, such as greater scale to raise and deploy capital into new and existing portfolio companies, as well as improved liquidity for dividends and buybacks.

    On 15 November, the Company launched an offer for subscription to raise £5 million (with an over-allotment facility of a further £5 million). The promoter’s fee will be waived for applications made by existing shareholders of any Foresight VCT. New investors, who do not benefit as existing investors but who make an application by 20 December 2024, will, however, benefit from the offer costs being reduced by 1.0% of the amount subscribed.

    Net Asset Value and dividends
    As at 30 September 2024, the Company’s NAV per share stood at 42.1p, a decrease of 4.0p (or 8.7%) over the period. After adding back the dividend paid in the period of 1.1p per share, the decrease was 6.3%.

    The Company’s policy is to seek to pay annual dividends of at least 4% of net assets per annum. During the period, on 26 July 2024, the Company paid an interim dividend of 1.1p, taking total dividends paid in respect of the year ended 31 March 2024 up to 2.1p per share, equivalent to 4.1% of the opening net assets of the previous financial year. This took the total dividends paid since the merger with Downing Absolute Income VCT 1 plc, Downing Absolute Income VCT 2 plc, Downing Income VCT plc, Downing Income VCT 3 plc and Downing Income VCT 4 plc in November 2013 to 47.6p per share.

    The Company offers its Shareholders the opportunity to participate in a Dividend Reinvestment Scheme, whereby they may elect to receive shares, credited as fully paid, instead of receiving dividends in cash. If you wish to participate, please contact the registrar, City Partnership, at the details provided on page 30 of the Unaudited Half-Yearly Financial Report.

    Investment performance and portfolio activity
    A detailed analysis of the investment portfolio performance over the period is given in the Investment Adviser’s Review.

    In brief, during the six months under review, the whole portfolio showed investment valuation losses of £9.4 million. Despite this disappointing overall performance, there were some highlights; a total of £2.9 million of proceeds were received from the sale of Data Centre Response Limited, as well as deferred consideration totalling £0.6 million, producing realised gains of £2.2 million. The Investment Adviser also completed two follow-on investments totalling £1.1 million.

    Responsible investing
    The Board notes the commitment of the Investment Adviser, Foresight Group, to being a “Responsible Investor”. Foresight places environmental, social and governance (“ESG”) criteria at the forefront of its business and investment activities in line with best practice and in order to enhance returns for their investors.

    Further detail can be found on page 17 of the Unaudited Half-Yearly Financial Report.

    Special administration of the Company’s custodian of quoted assets
    As previously reported, since September 2020 the Company has used IBP Capital Markets Limited (“IBP”) as custodian for its quoted investments. Appointing a custodian is a requirement of the FCA, and IBP is an FCA authorised and regulated wholesale broker, providing custody services and access to equity and fixed income securities for non-retail clients (which includes the Company).

    On 13 October 2023, the FCA published a supervisory notice under section 55L(3)(a) of the Financial Services and Markets Act 2000, imposing certain restrictions on IBP. On the same date, IBP applied to the High Court and special administrators were appointed.

    As noted in the Annual Report, on 19 July 2024, around 80% of the quoted investment portfolio was returned to the Company, meaning normal management and trading of these positions was resumed. The remaining 20% will be returned following the conclusion of court proceedings, the timing of which is currently anticipated to take place in the second half of 2025, unless additional claims are submitted or the outcome of the court proceedings in terms of a final distribution is any different. The Company will communicate with Shareholders if there is any new information which materially impacts the numbers presented in this report.

    Share buybacks
    The Company continues to operate a policy of buying in its own shares that become available in the market at a 5% discount to NAV (subject to liquidity and regulatory restrictions). Subsequent to the merger, the Board intends to reduce this target discount to 2.5% in future.

    During the period the Company purchased 5,522,581 shares for cancellation at an average discount of 5.0%, which represented 3.1% of shares in issue at the date of the last Annual Report.

    Share buybacks are timed to avoid the Company’s closed periods. Buybacks will generally take place, subject to demand, during the following times of the year:

    • August, after the Annual Report has been published
    • September, prior to the Half-Yearly reporting date of 30 September
    • January, after the Half-Yearly Report has been published
    • March, prior to the end of the financial year

    The Company retains Panmure Liberum as its corporate broker to assist in operating the share buyback process and ensuring that the quoted spread on the Company’s shares remains at a reasonable level. Contact details for Panmure Liberum are on page 30 of the Unaudited Half-Yearly Financial Report.

    Management charges and performance incentive
    The annual management fee is an amount equal to 2.0% of net assets. There is no change to the management fee or secretarial fee post-merger. From 1 October 2024, the Investment Adviser took over responsibility for management of the Quoted Growth portfolio from Downing LLP. The team at Downing LLP continues to advise the Company on the Yield Focused portfolio under a subcontract agreement with Foresight Group LLP.

    A new performance incentive scheme was formally approved by Shareholders as part of the merger on 15 November 2024. This scheme, in brief, means a performance fee would be payable to the Investment Adviser at the end of each performance period, subject to a total return hurdle. The fee would be equal to the lesser of: (i) 20% of distributions attributable to the relevant performance period; or (ii) 20% of the increase in the total return which is higher than the hurdle. The Board believes this new scheme will provide additional motivation for the Investment Adviser to drive enhanced shareholder value.

    Board composition
    As noted in the Annual Report, Chris Kay resigned as a Director of the Company on 6 June 2024. Post period end, Andrew Mackintosh has joined the Board from TV2 subsequent to the merger. Andrew is chair of UKI2S, a government-backed venture capital fund supporting companies from the UK’s scientific research base. He is a Fellow of the Royal Academy of Engineering and was awarded a CBE in the 2024 New Year Honours for services to Science and Technology, and to Enterprise Development, and we are delighted to have him on board.

    The Board now comprises four Non-Executive Directors, which the Board considers to be an appropriate number for the current size of the VCT. All of the Directors are independent of the Investment Adviser, with the exception of Chris Allner who is considered non-independent by virtue of being a partner at Downing LLP, the previous investment adviser to the Company, which still provides some services to our new Investment Adviser.

    VCT sunset clause
    I am pleased to report that new regulations have been made to extend the UK’s VCT scheme by ten years to April 2035, following the European Commission’s confirmation that they would not oppose the continuation of the scheme. This now removes any recent uncertainty and will help support further investment by the VCT sector in early-stage companies.

    Outlook
    At the date of the merger the Company’s NAV per share had increased to 42.6p, as a result of valuation uplifts in the Quoted Growth portfolio, as well as favourable exchange rates on our US investments. With an offer for subscription now out to raise further funds, in addition to the cash boost on acquiring the assets of TV2, and a refreshed performance incentive scheme to greater motivate the Investment Adviser, we look forward to seeing an increase in deployment to enhance the portfolio and returns to Shareholders. Whilst the macroeconomic environment has been challenging for the last two years, the Investment Adviser is cautiously optimistic that 2025 will provide more positive conditions for our portfolio companies. The downward trajectory of inflation and interest rates should lead to increasing confidence and encourage investors to return to the market.

    Atul Devani
    Chair

    20 December 2024

    INVESTMENT ADVISER’S REVIEW

    “We present our Investment Adviser’s Review for the six‑month period ended 30 September 2024.”

    Unquoted Growth
    Portfolio summary
    At 30 September 2024, the Company held total unquoted investments of £44.4 million, split £34.5 million Unquoted Growth and £9.9 million Unquoted Yield Focused. Details of the Unquoted Yield Focused portfolio performance are set out on page 8 of the Unaudited Half-Yearly Financial Report.

    The Unquoted Growth portfolio comprises 29 companies, across a range of sectors. Following a challenging period for the year ended 31 March 2024, with the portfolio unfavourably impacted by the downturn of the UK economy, the six months ended 30 September 2024 has been similarly disappointing, resulting in an overall unrealised investment valuation loss of £2.2 million in the portfolio.

    Investment activity
    There were no new investments made during the period ended 30 September 2024. The Company made follow-on investments in two Unquoted Growth companies during the period, totalling £1.1 million:

    FundingXchange Limited (£750,000), a fintech platform delivering SME lenders insights into their portfolios. This investment was made concurrently with a £5.0 million investment from Barclays as part of a £6.0 million round. This transformational investment will allow the company to build on early commercial success and deepen the strategic and commercial relationship with Barclays.

    Rated People Limited (£375,000), an online marketplace connecting homeowners and local tradespeople. This investment allows the strengthened management team to implement the necessary product and operational changes to enable a return to growth and a cash-generative business model.

    There was one realisation during the period ended 30 September 2024:

    DSTBTD Limited (trading as Distributed) was sold for £1 to ILX Group. No proceeds were returned to the Company, which was a disappointing result for the team, but a favourable outcome to an administration process, which was a real possibility after a proposed funding failed to come together.

    Key portfolio developments
    There were some material write downs in the Unquoted Growth portfolio during the period, and some companies have continued to struggle in the challenging macroeconomic environment. However, there have also been some positive movements in valuation. This has resulted in a net total realised and unrealised investment valuation loss of £3.0 million in the period, including £0.7 million in unrealised foreign exchange losses.

    Of the total investment loss, total losses of £6.5 million were offset by gains of £3.5 million. The most significant movements are noted below.

    The largest gain in value was in Ayar Labs, Inc, a silicon photonic chiplet developer used in next-generation AI data centers of the major hyperscalers and cloud-service providers. The valuation increased by £1.9 million, including foreign exchange losses, as a result of a new funding round.

    Other unrealised valuation gains included:

    Rated People Limited, an online marketplace connecting homeowners and local tradespeople, increased in value by £596,000. This was due to a follow-on funding round enhancing the Company’s share of proceeds on any liquidity event. It is also worth noting that the company is now trading profitably and under new leadership.

    Carbice Corporation, Inc has developed a suite of products based on its carbon material, used primarily as thermal management solutions to enable greater thermal conductivity. The valuation increased by £401,000, including foreign exchange losses, as a result of the recent closure of a funding round that increases the prospect of growth and, ultimately, a positive realisation for investors.

    Four other companies in the Unquoted Growth portfolio made up investment valuation gains of £603,000.

    There were also a number of valuation losses reported in the period. The greatest loss was in Cambridge Touch Technologies Ltd, a company developing pressure sensitive multi-touch technology, which reduced in value by £1.9 million as a result of a challenging funding environment for deep tech companies. As noted above, DSTBTD Limited (trading as Distributed) was sold for £1 to ILX Group during the period. No proceeds were returned to the Company, resulting in a realised loss of £775,000.

    Other investment valuation losses included:

    Vivacity Labs Limited, a provider of Artificial Intelligence sensors to monitor and control traffic flows, was written down to nil value in the period, a decrease in value of £960,000, following a new funding round. The investment round (that we chose not to participate in) generated penal terms for shareholders not participating in the funding round and resulted in the write down.

    Masters of Pie Limited, developer of “Radical”, a software solution that enables remote sharing and collaboration on large data sets, was reduced by £700,000 as a result of a challenging period for the company from a trading perspective. It is hoped that this situation will improve in Q4 2024, albeit the position remains challenging.

    Virtual Class Ltd (trading as Third Space Learning), a platform offering personalised online lessons from specialist tutors, decreased in carrying value by £466,000, driven by significant budgetary pressure experienced by UK schools, a key customer group. It is hoped that early international sales (in the US) will somewhat offset challenges in the UK market.

    Parsable, Inc., a provider of software to improve operational efficiencies in the industrial and manufacturing sectors, has seen a valuation decrease of £460,000, including foreign exchange losses. During the period, an offer to acquire Parsable was received that, whilst at a valuation lower than we expected, was accepted by the Board, and the valuation has been aligned with anticipated proceeds.

    Bulbshare Limited, a company that enables brands to build communities from their existing customers to gather consumer insights, was exited post period end. The valuation was reduced by £371,000 in line with the exit proceeds received.

    Trinny London Limited, a multi-channel female beauty and skincare brand, was reduced in value by £354,000 due to a decline in comparable market valuation multiples. Despite this, the business increased revenue during the period and remains profitable.

    CommerceIQ, Inc., the pioneer in helping brands win on retail e-commerce channels, decreased by £221,000 in the period, including foreign exchange losses. Whilst CommerceIQ’s revenues increased during the period, market valuations for similar businesses declined and, consequently, the valuation fall is a reflection of wider market conditions.

    Four other companies in the Unquoted Growth portfolio made up valuation losses of £340,000. Aside from Vivacity Labs Limited, no other investments were written down to nil during the period.

    Post period end activity
    After the period end, the Company completed two new investments totalling £1.6 million into Dragonfly Technology Solutions Ltd (£600,000), a predictive analytics business, and Alison Technologies Ltd (£978,000), a developer of an innovative AI marketing insights tool. The Company also completed two follow-on investments totalling £1.1 million into Maestro Media Limited (£750,000) and Virtual Class Ltd (£300,000). The Company received £1.1 million in proceeds from the exit of Bulbshare Limited in October.

    At the date of the merger, the Unquoted Growth portfolio had seen positive foreign exchange movements totalling £421,000.

    Outlook
    Whilst the macroeconomic environment has been challenging for the last two years, we are cautiously optimistic that 2025 will provide more positive conditions for our portfolio companies. The downward trajectory of inflation and interest rates should lead to increasing confidence and encourage investors to return to the market. From an exit perspective, the IPO market is unlikely to open up in the short term, but we are seeing signs that PE and trade buyers will be more active in 2025, offering potential liquidity opportunities for portfolio companies.

    In addition to the anticipated improved macro environment, we believe the merger with Thames Ventures VCT 2 plc has created a company well placed for success, with a very clear investment mandate (exclusively investing in private technology businesses) and benefiting from more streamlined company reporting and administration.

    Foresight Group LLP
    20 December 2024

    Yield Focused portfolio
    Downing LLP continues to advise the Company on the Unquoted Yield Focused portfolio under a subcontract from Foresight Group LLP.

    Downing presents a review of the Yield Focused portfolio for the six months ended 30 September 2024. At the period end, the Yield Focused portfolio consisted of seven active investments, all of which are unquoted, with a total value of £9.9 million.

    Divestment activity
    During the period, the focus was on investment realisations from the Yield Focused portfolio, which resulted in proceeds of £2.9 million from the exit of Data Centre Response Limited, a provider of power solutions and maintenance services to data centres. There were no new or follow-on investments.

    Realisations in the period ended 30 September 2024

        Total Cost at date Exit Total
        invested of disposal proceeds return
    Company Detail (£) (£) (£) (£)
    Data Centre Response Limited Full disposal 557,441 557,441 2,916,694 2,916,694

    Key portfolio developments
    The Yield Focused portfolio reduced in value by £113,000 during the period, with one company, Data Centre Response Limited, recognising a gain of £494,000 on exit, as noted above, and four companies recognising unrealised losses of £607,000:

    Pilgrim Trading Limited, an operator and owner of two children’s nurseries in West London, decreased in value by £437,000 after two periods of unsuccessful marketing proved the last independent valuation of the business to be unachievable in current market conditions. Consequently, the independent valuation has now been heavily discounted.

    Kimbolton Lodge Limited, a nursing and care home in Bedfordshire, decreased in value by £67,000 to bring the valuation in line with the anticipated proceeds from a sale process that is currently underway.

    Doneloans Limited, which holds a portfolio of secured loans, decreased in value by £67,000 driven by the cost of its own funding marginally exceeding interest receivable from its borrowers.

    SF Renewables (Solar) Limited, which built and operates a solar plant in India, was reduced by £36,000 in line with the exit proceeds received post period end.

    Outlook
    With one exit during the period and another shortly after period end, there were six investments remaining in the Yield Focused portfolio at the time of writing. Downing is actively seeking to progress exits from both Kimbolton Lodge and Pilgrim Trading, though the latter is currently looking less likely to materialise. Given current market conditions, sales of the higher value, hotel-related investments, Baron House Developments and Cadbury House Holdings, are expected to take some time to complete. The recovery of value from Doneloans is linked largely to the sale of Pilgrim Trading, which is the lender’s largest loan, but additional recoveries are anticipated from other borrowers over the next 12 months.

    Downing LLP and Foresight Group LLP
    20 December 2024

    Quoted Growth portfolio
    For the six months to 30 September 2024, Downing LLP continued to advise the Company on the Quoted Growth portfolio under a subcontract from Foresight Group LLP. From 1 October 2024, Foresight Group LLP took on full responsibility for management of the Quoted Growth portfolio.

    Investment activity
    Markets continued to be volatile through the reporting period. The impending Budget dominated market behaviours, particularly the FTSE AIM Index, where fears over an abolition of IHT reliefs on AIM shares adversely affected the market. In the end, this fear was overcooked, and the FTSE AIM All Share rallied 4% on the day of the Budget, as it was announced that reliefs on AIM shares would remain, albeit at half the relief previously enjoyed. Since the Budget, the new concern has been focused on the impact of National Insurance increases, which have weighed heavily on UK Small and Mid-Cap companies. There is a general acceptance that inflation will still be a looming threat and hence interest rates will remain higher for longer.

    There were no investments or realisations made during the six months to 30 September 2024.

    Key portfolio developments
    At 30 September 2024, the Quoted Growth portfolio was valued at £13.4 million, comprising 36 active investments. Over the six-month period, the portfolio produced net valuation losses of £4.7 million, offset by £3.8 million received in dividends from the portfolio. Two companies, valued at £78,000 at year end, have been written down to nil during the period.

    The most significant loss was incurred in Tracsis plc, a provider of transport technology, which saw valuation losses of £2.4 million during the period due to a profit warning, citing delays on rail infrastructure spend incurred due to the early election. This was exacerbated by contract delays in their US business.

    This was offset by valuation gains elsewhere in the portfolio, where Anpario plc, a specialist manufacturer and distributor of natural sustainable feed additives for animal health, nutrition and biosecurity, increased by £680,000 net of £46,000 dividends received, reflecting an improvement in trading post supply chain issues experienced during the inflationary period post covid.

    A net gain of £615,000 was made in Downing Strategic Micro‑Cap Investment Trust plc, where special dividends of £3.7 million were made during the period, as part of the managed wind-down of the Trust. Since the period end, a further special dividend of 2.2p, equating to £133,000, has been received by the Company.

    Meanwhile Cohort plc, the parent company of six businesses providing a wide range of services and products for British, Portuguese and other international customers in defence and security markets, booked an unrealised gain of £558,000. This mirrored profit upgrades, contract renewals and strong financial results. This momentum has continued post period end.

    As at 17 December 2024, the valuation of the Quoted Growth portfolio had decreased by £226,000 (-1.7%).

    IBP Capital Markets Limited
    As noted in the Annual Report, the Company recovered c.80% of its total Quoted Growth portfolio on 19 July 2024, with the remaining c.20% to be recovered following court proceedings, currently anticipated to take place in the second half of 2025. Up until July, the ability to trade the portfolio continued to be restricted and hence there has been limited ability to manage exposures within the portfolio. The Company is now able to trade its positions, having been unable to do so since October 2023.

    Post-period end activity
    Post period end, ahead of the Budget, shares were sold in 14 of the Company’s Quoted Growth portfolio holdings. Notably, holdings in Anpario plc and Craneware plc were reduced, as well as in Impact Healthcare REIT plc, a non-qualifying holding. As previously communicated to Shareholders, the strategy going forward is to realise the Quoted Growth portfolio over time, which will free up funds to be redeployed into Unquoted Growth holdings.

    Outlook
    A number of the Quoted Growth companies in the portfolio have been consistently overoptimistic about hitting milestones for product development, revenues and ultimately profits. Given competition for capital amongst the wider portfolio of venture capital holdings, Foresight took the difficult decision to reduce a number of these positions. Achieving a total sale of individual holdings has not been possible, given that 20% of the Company’s Quoted Growth assets are still tied up in the custodian IBP Capital Markets Limited (“IBP”), which remains in special measures. While this is frustrating, as it does not allow portfolio management to be conducted across the entire portfolio should changes need to be made, we are able to make them to substantially all of the holdings.

    The Quoted Growth holdings have reduced as a percentage of the Company’s total assets, but we firmly believe that by making these changes we have increased the overall quality and see an encouraging future, despite an uncertain macroeconomic background.

    Downing LLP and Foresight Group LLP
    20 December 2024

    UNAUDITED HALF-YEARLY RESULTS AND RESPONSIBILITIES STATEMENTS

    Principal risks and uncertainties
    The principal risks faced by the Company are as follows:

    • Investment performance
    • Regulatory
    • Operational
    • Economic, political and other external factors

    The Board reported on the principal and emerging risks and uncertainties faced by the Company in the Annual Report and Accounts for the year ended 31 March 2024. A detailed explanation can be found on pages 26 to 28 of the Annual Report and Accounts, which is available on the Investment Adviser’s website www.foresightgroup.eu/products/foresight-ventures-vct-plc or by writing to Foresight Group at The Shard, 32 London Bridge Street, London SE1 9SG.

    In the view of the Board, there have been no changes to the fundamental nature of these risks since the previous report and these principal risks and uncertainties are equally applicable to the remaining six months of the financial year as they were to the six months under review.

    Directors’ responsibility statement
    The Disclosure and Transparency Rules (“DTR”) of the UK Listing Authority require the Directors to confirm their responsibilities in relation to the preparation and publication of the Half-Yearly Financial Report.

    The Directors confirm to the best of their knowledge that:

       a)   The summarised set of financial statements has been prepared in accordance with FRS 104
       b)   The interim management report includes a fair review of the information required by DTR 4.2.7R (indication of important events during the first six months and description of principal risks and uncertainties for the remaining six months of the year)
       c)   The summarised set of financial statements gives a true and fair view of the assets, liabilities, financial position and profit or loss of the Company as required by DTR 4.2.4R
       d)   The interim management report includes a fair review of the information required by DTR 4.2.8R (disclosure of related parties’ transactions and changes therein)

    Going concern
    The Company’s business activities, together with the factors likely to affect its future development, performance and position, are set out in the Strategic Report of the Annual Report. The financial position of the Company, its cash flows, liquidity position and borrowing facilities are described in the Chair’s Statement, Strategic Report and Notes to the Accounts of the 31 March 2024 Annual Report. In addition, the Annual Report includes the Company’s objectives, policies and processes for managing its capital; its financial risk management objectives; details of its financial instruments; and its exposures to credit risk and liquidity risk.

    The Company has adequate financial resources at the period end and holds a diversified portfolio of investments. As a consequence, the Directors believe that the Company is well placed to manage its business risks successfully.

    The Directors have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the half-yearly financial statements.

    The Half-Yearly Financial Report has not been audited nor reviewed by the auditors.

    On behalf of the Board

    Atul Devani
    Chair

    20 December 2024

    UNAUDITED INCOME STATEMENT
    For the six months ended 30 September 2024

      Six months ended
    30 September 2024
    (Unaudited)    		 Six months ended
    30 September 2023
    (Unaudited)    		 Year ended
    31 March 2024
    (Audited)
     
     
      Revenue Capital Total Revenue Capital Total Revenue Capital Total
      £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000
    Realised gains/(losses) on investments — 2,202 2,202 — (5,203) (5,203) — (8,015) (8,015)
    Investment holding (losses)/gains — (10,311) (10,311) — 1,028 1,028 — 3,465 3,465
    Income 4,187 — 4,187 1,065 — 1,065 906 — 906
    Investment management fees (404) (404) (808) (449) (449) (898) (863) (863) (1,726)
    Other expenses (482) — (482) (376) — (376) (1,346) — (1,346)
    Return/(loss) on ordinary activities before taxation 3,301 (8,513) (5,212) 240 (4,624) (4,384) (1,303) (5,413) (6,716)
    Taxation — — — (24) 24 — — — —
    Return/(loss) on ordinary activities after taxation 3,301 (8,513) (5,212) 216 (4,600) (4,384) (1,303) (5,413) (6,716)
    Return/(loss) per share 1.9p (4.8)p (2.9)p 0.1p (2.5)p (2.4)p (0.7)p (3.1)p (3.8)p

    The total columns of this statement are the profit and loss account of the Company and the revenue and capital columns represent supplementary information.

    All revenue and capital items in the above Income Statement are derived from continuing operations. No operations were acquired or discontinued in the period.

    The Company has no recognised gains or losses other than those shown above, therefore no separate statement of total recognised gains and losses has been presented.

    The Company has only one class of business and one reportable segment, the results of which are set out in the Income Statement and Balance Sheet.

    There are no potentially dilutive capital instruments in issue and, therefore, no diluted earnings per share figures are relevant. The basic and diluted earnings per share are, therefore, identical.

    UNAUDITED RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS’ FUNDS
    For the six months ended 30 September 2024

      Called-up Share
    premium    		 Capital redemption Special Capital Revaluation Revenue  
      share capital account reserve reserve reserve reserve reserve Total
      £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000
    As at 1 April 2024 1,775 2,522 71 86,901 (10,791) 6,057 (4,619) 81,916
    Share issues in the period 7 301 — — — — — 308
    Expenses in relation to share issues — (46) — — — — — (46)
    Repurchase of shares (55) — 55 (2,340) — — — (2,340)
    Realised gains on disposal of investments — — — — 2,202 — — 2,202
    Investment holding losses — — — — — (10,311) — (10,311)
    Dividends paid — — — — (1,953) — — (1,953)
    Management fees charged to capital — — — — (404) — — (404)
    Revenue return before taxation for the period — — — — — — 3,301 3,301
    Taxation for the period — — — — — — — —
    As at 30 September 2024 1,727 2,777 126 84,561 (10,946) (4,254) (1,318) 72,673

    Distributable reserves at 30 September 2024 total £51,490,000 (31 March 2024: £58,151,000).

    UNAUDITED BALANCE SHEET
    As at 30 September 2024

    Registered number: 03150868

      As at As at As at
      30 September 30 September 31 March
      2024 2023 2024
      (Unaudited) (Unaudited) (Audited)
      £’000 £’000 £’000
    Fixed assets      
    Investments held at fair value through profit or loss 57,746 65,871 67,393
    Current assets      
    Debtors 8,467 7,393 7,570
    Cash and cash equivalents 7,097 13,580 7,559
    Total current assets 15,564 20,973 15,129
    Creditors      
    Amounts falling due within one year (637) (1,077) (606)
    Net current assets 14,927 19,896 14,523
    Net assets 72,673 85,767 81,916
    Capital and reserves      
    Called-up share capital 1,727 1,770 1,775
    Share premium account 2,777 2,252 2,522
    Capital redemption reserve 126 71 71
    Special reserve 84,561 85,122 86,901
    Capital reserve (10,946) (5,627) (10,791)
    Revaluation reserve (4,254) 3,619 6,057
    Revenue reserve (1,318) (1,440) (4,619)
    Equity shareholders’ funds 72,673 85,767 81,916
    Net Asset Value per share 42.1p 48.5p 46.1p

    UNAUDITED CASH FLOW STATEMENT
    For the six months ended 30 September 2024

      Six months ended Six months ended Year ended
      30 September 30 September 31 March
      2024 2023 2024
      (Unaudited) (Unaudited) (Audited)
      £’000 £’000 £’000
    Cash flow from operating activities      
    Loss on ordinary activities after taxation (5,212) (4,384) (6,716)
    Loss on investments 8,109 4,175 4,550
    Increase in debtors (1,768) (891) (1,134)
    Increase in creditors 59 82 304
    Net cash inflow/(outflow) from operating activities 1,188 (1,018)  (2,996)
    Cash flow from investing activities      
    Purchase of investments (1,125) (2,209) (4,394)
    Net proceeds on sale of investments 2,917 3,295 3,433
    Net proceeds on deferred consideration 543 419 637
    Net cash inflow/(outflow) from investing activities 2,335 1,505 (324)
    Cash flows from financing activities      
    Proceeds of fundraising — 1,586 1,585
    Expenses of fundraising — (7) (7)
    Repurchase of own shares (2,340) (2,270) (2,964)
    Equity dividends paid (1,645) (1,498) (3,017)
    Net cash outflow from financing activities (3,985) (2,189) (4,403)
    Net outflow of cash in the period (462) (1,702) (7,723)
    Reconciliation of net cash flow to movement in net funds      
    Decrease in cash and cash equivalents for the period (462) (1,702) (7,723)
    Net cash and cash equivalents at start of period 7,559 15,282 15,282
    Net cash and cash equivalents at end of period 7,097 13,580 7,559

    Analysis of changes in net debt

      As at
    1 April 2024
    £’000    		 Cash flow
    £’000    		 At 30 September
    2024
    £’000
     
     
    Cash and cash equivalents 7,559 (462) 7,097

    NOTES TO THE UNAUDITED HALF-YEARLY RESULTS
    For the six months ended 30 September 2024

    1
    The Unaudited Half-Yearly Financial Report has been prepared on the basis of the accounting policies set out in the statutory accounts of the Company for the year ended 31 March 2024. Unquoted investments have been valued in accordance with IPEV Valuation Guidelines.

    2
    These are not statutory accounts in accordance with s436 of the Companies Act 2006 and the financial information for the six months ended 30 September 2024 and 30 September 2023 has been neither audited nor formally reviewed. Statutory accounts in respect of the year ended 31 March 2024 have been audited and reported on by the Company’s auditor and delivered to the Registrar of Companies and included the report of the auditor which was unqualified and did not contain a statement under s498(2) or s498(3) of the Companies Act 2006. No statutory accounts in respect of any period after 31 March 2024 have been reported on by the Company’s auditor or delivered to the Registrar of Companies.

    3
    Copies of the Unaudited Half-Yearly Financial Report will be sent to Shareholders via their chosen method and will be available for inspection at the Registered Office of the Company at The Shard, 32 London Bridge Street, London SE1 9SG.

    4 Net Asset Value per share
    The Net Asset Value per share is based on net assets at the end of the period and on the number of shares in issue at the date.

        Number of shares
      Net assets in issue
    30 September 2024 £72,673,000 172,715,260
    30 September 2023 £85,767,000 176,968,887
    31 March 2024 £81,916,000 177,546,529

    5 Return per share
    The weighted average number of shares used to calculate the respective returns are shown in the table below.

      Number of shares
    Six months ended 30 September 2024 176,320,908
    Six months ended 30 September 2023 179,310,912
    Year ended 31 March 2024 178,234,061

    Earnings for the period should not be taken as a guide to the results for the full year.

    6 Income

      Six months ended Six months ended Year ended
      30 September 30 September 31 March
      2024 2023 2024
      £’000 £’000 £’000
    Income from investments      
    Loan stock interest 240 920 424
    Dividend income 3,827 145 415
      4,067 1,065 839
    Other income 120 — 67
      4,187 1,065 906

    7 Investments held at fair value through profit or loss

      Unquoted Growth
    investments
    £’000    		 Unquoted
    Yield Focused
    investments
    £’000    		 Quoted Growth
    investments
    £’000    		 Total
    £’000
     
     
     
    Book cost at 1 April 2024 39,760 13,651 23,241 76,652
    Investment holding losses at 1 April 2024 (3,374) (751) (5,134) (9,259)
    Valuation at 1 April 2024 36,386 12,900 18,107 67,393
    Movements in the period:        
    Purchases 1,125 — — 1,125
    Disposal proceeds — (2,917) — (2,917)
    Realised (losses)/gains on disposals1 (775) 2,360 — 1,585
    Foreign exchange losses (669) — — (669)
    Investment holding losses2 (1,554) (2,473) (4,744) (8,771)
    Valuation at 30 September 2024 34,513 9,870 13,363 57,746
    Book cost at 30 September 2024 40,110 13,094 23,241 76,445
    Investment holding losses at 30 September 2024 (5,597) (3,224) (9,878) (18,699)
    Valuation at 30 September 2024 34,513 9,870 13,363 57,746
    1. Realised gains on investments in the Income Statement include realised gains relating to deferred consideration receipts totalling £617,000 from StorageOS Inc (£419,000), Efundamentals Group Limited (£96,000), Firefly Learning Limited (£74,000), DIA Imaging Analysis Limited (£14,000) and Imagen Limited (£14,000).
    2. Investment holding losses in the Income Statement include unrealised losses which are a result of the deferred consideration debtor decrease of £871,000. The debtor movement reflects the recognition of amounts receivable in respect of DIA Imaging Analysis Limited (£45,000) and Firefly Learning Limited (£8,000), offset by receipts in respect of StorageOS Inc (£419,000), Efundamentals Group Limited (£96,000), Firefly Learning Limited (£74,000), Imagen Limited (£14,000) and DIA Imaging Analysis Limited (£14,000). Amounts were previously recognised as receivable but written down at 30 September 2024 in respect of Efundamentals Group Limited (£295,000), JRNI Limited (£8,000) and Imagen Limited (£4,000).

    8 Contingencies, guarantees and financial commitments
    As outlined in note 17 to the Annual Report and Accounts for the year ended 31 March 2024, the Company has used IBP Capital Markets Limited (“IBP”) as custodian for its quoted investments since September 2020. Appointing a custodian is a requirement of the FCA; IBP is an FCA authorised and regulated wholesale broker, providing custody services and access to equity and fixed income securities for non-retail clients (which includes the Company). On 13 October 2023, the FCA published a supervisory notice under section 55L(3)(a) of the Financial Services and Markets Act 2000, imposing certain restrictions on IBP. On the same date, IBP applied to the High Court and special administrators were appointed.

    During the period since, the Investment Adviser has been actively collaborating with the special administrators to reach a resolution, which has involved reconciling quoted stocks held with IBP (“Custody Assets”) and cash held with IBP (“Client Money”). As at 13 October 2023, the Company held Client Money of £1.1 million (1.2% of indicative NAV on the same date), and Custody Assets of £16.9 million (19.5% of indicative NAV on the same date).

    With regard to Custody Assets, whilst the final outcome remains subject to change, particularly as additional claims may be made, there have so far been two differences of value identified, together totalling a variance of £0.28 million, which was provided for at 31 March 2024. It was announced on 17 May 2024 that the special administrators would be making an interim distribution of 80% of eligible Custody Assets, and the transfer of these to the new custodian completed on 19 July 2024. The Company is now able to trade these assets on the quoted market. The remaining 20% withheld will be distributed as part of a Final Court Approved Distribution Plan, unless additional claims are made resulting in a break.

    With regard to Client Money, a progress report was released on 12 April 2024 which identified a potential 44% cash shortfall equating to £0.46 million of Client Money held by the Company which was provided for at 31 March 2024. Any further deduction for fees relating to the special administration process is unknown at this point, but from the information available these are anticipated to be in the region of £0.14 million payable by the Company. These fees were accrued for as at 31 March 2024 and there has been no further adjustment to this estimate. The total potential exposure based on information available to date is therefore currently estimated to be £0.88 million, representing 1.2% of NAV at 30 September 2024.

    As noted, the outcome remains subject to change with the final distribution plan being shared following the court proceedings. Timing of this is currently anticipated to take place in the second half of 2025. The Company will communicate with Shareholders if there is any new information which materially impacts the numbers presented in this report.

    9 Related party transactions
    No Director has an interest in any contract to which the Company is a party other than their appointment and payment as Directors.

    10 Transactions with the Investment Adviser
    Details of arrangements with Foresight Group LLP are given in the Annual Report and Accounts for the year ended 31 March 2024, in the Directors’ Report and notes 4 and 5. All arrangements and transactions were on an arm’s length basis.

    Foresight Group LLP was appointed as Investment Adviser on 4 July 2022 and earned fees of £808,000 during the period to 30 September 2024 (30 September 2023: £898,000; 31 March 2024: £1,726,000).

    Foresight Group LLP is the Company Secretary (appointed on 1 September 2023) and received, for accounting and company secretarial services, fees of £75,000 during the period to 30 September 2024 (30 September 2023: £80,000; 31 March 2024: £156,000).

    At the balance sheet date there was £nil due to Foresight Group LLP (30 September 2023: £nil; 31 March 2024: £nil).

    11 Post-balance sheet events
    On 5 November 2024, the Company purchased for cancellation 2,197,967 ordinary shares of 1p at a gross price of 42.37p per share.

    On 15 November 2024, the Company merged with Thames Ventures VCT 2 plc (“TV2”). A total of 86,637,164 shares in the Company were issued to TV2 shareholders at the price of 42.629237024071200p per share. Following this allotment, the Company redesignated 147,531,473 of its issued ordinary shares as deferred shares, which were immediately repurchased and cancelled in order to re-base the NAV per share of each of ordinary share to 100.0p.

    A copy of the Unaudited Half-Yearly Financial Report will be submitted to the National Storage Mechanism in accordance with UK Listing Rules (“UKLR”)11.4.1 / UKLR 6.4.1 and UKLR 6.4.3.

    END

    For further information, please contact:

    Company Secretary
    Foresight Group LLP
    Contact: Stephen Thayer Tel: 0203 667 8100

    Investor Relations
    Foresight Group LLP
    Contact: Andrew James Tel: 0203 667 8181

    The MIL Network –

  • MIL-OSI Security: Russian National Assisted Sanctioned Oligarch in Schemes to Employ an American Citizen to Launch and Operate Russian Television Network

    Source: Federal Bureau of Investigation (FBI) State Crime News

    Defendant Also Helped Oligarch Illegally Transfer a $10 Million U.S. Investment to Business Associate

    Damian Williams, the United States Attorney for the Southern District of New York, Menno Goedman, the Co-Director of Task Force KleptoCapture, and James E. Dennehy, the Assistant Director in Charge of the New York Office of the Federal Bureau of Investigation (“FBI”), announced today the unsealing of a Superseding Indictment charging ALEXEY KOMOV with conspiracy and violations of U.S. sanctions arising from his assistance to sanctioned Russian oligarch KONSTANTIN MALOFEYEV, who was previously charged in April 2022.  As alleged, KOMOV conspired with MALOFEYEV to recruit and employ an American citizen, Jack Hanick, who worked for MALOFEYEV in launching and operating a television network in Russia.  KOMOV also conspired with MALOFEYEV, Hanick, and others to illegally transfer a $10 million investment that MALOFEYEV had made in a U.S. bank to a business associate in Greece, in violation of the sanctions blocking MALOFEYEV’s assets from being transferred. 

    U.S. Attorney Damian Williams said: “As alleged, Alexey Komov facilitated the efforts of Konstantin Malofeyev – an oligarch closely tied to Russian aggression in Ukraine who has been determined by OFAC to have been one of the main sources of financing for the promotion of Russia-aligned separatist groups operating in the sovereign nation of Ukraine – to flout U.S. sanctions.  The unsealing today of the Indictment against Komov is yet another reminder that this Office will continue to hold those accountable that seek to undermine the United States’ national security goals.”

    KleptoCapture Co-Director Menno Goedman said: “The indictment alleges Alexey Komov played an essential role in a multi-faceted scheme to violate and evade U.S. sanctions imposed on a significant financier of Russian aggression in Ukraine.  Task Force KleptoCapture will continue to disrupt schemes perpetrated by Komov and other sanction evaders, whenever and wherever they may hide.”

    FBI Assistant Director in Charge James E. Dennehy said: “Alexey Komov, a Russian national, allegedly conspired with an American citizen and a sanctioned Russian oligarch to develop a Russian cable network to promote anti-Western propaganda. This alleged conspiracy violated laws designed to protect the national security of the United States and our allies. The FBI remains committed to apprehending foreign nationals who employ our citizens to satisfy their odious agenda.”

    According to the Indictment unsealed today in Manhattan federal court:[1]

    In 2014, the President issued Executive Order 13660, which declared a national emergency with respect to the situation in Ukraine.  To address this national emergency, the President blocked all property and interest in property that came within the U.S. or the possession or control of any U.S. person, of individuals determined by the Secretary of the Treasury to be responsible for or complicit in, or who engaged in, actions or policies that threatened the peace, security, stability, sovereignty, or territorial integrity of Ukraine, or who materially assist, sponsor, or provide financial, material, or technological support for, or goods and services to, individuals or entities engaging in such activities.  Executive Order 13660, along with certain regulations issued pursuant to it (the “Ukraine-Related Sanctions Regulations”) prohibits, among other things, making or receiving any funds, goods, or services by, to, from, or for the benefit of any person whose property and interests in property are blocked.

    On December 19, 2014, the Department of Treasury’s Office of Foreign Assets Control (“OFAC”) designated MALOFEYEV as a Specially Designated National (“SDN”) pursuant to Executive Order 13660.  OFAC’s designation of MALOFEYEV explained that he was one of the main sources of financing for Russians promoting separatism in Crimea, and has materially assisted, sponsored, and provided financial, material, or technological support for, or goods and services to or in support of the so-called Donetsk People’s Republic, a separatist organization in the Ukrainian region of Donetsk.

    As alleged in the Indictment, beginning in at least 2012, KOMOV assisted MALOFEYEV in recruiting and hiring a U.S. citizen named Jack Hanick to work on a new Russian cable television news network (the “Russian TV Network”) that MALOFEYEV was creating.  As part of KOMOV’s recruitment of Hanick, KOMOV travelled to Manhattan to meet with Hanick and subsequently introduced Hanick to MALOFEYEV in Russia.  With KOMOV’s knowledge, MALOFEYEV negotiated directly with Hanick regarding Hanick’s salary, payment for Hanick’s housing in Moscow, and Hanick’s Russian work visa.  MALOFEYEV paid Hanick through two separate Russian entities through the end of 2018.

    After OFAC designated MALOFEYEV as a SDN in December 2014, MALOFEYEV continued to employ Hanick on the Russian TV Network, with KOMOV’s assistance and input, and in violation of the Ukraine-Related Sanctions Regulations.  For example, prior to the launch of the Russian TV Network on the air in Russia in April 2015, KOMOV wrote an e-mail to MALOFEYEV, Hanick, and another employee, referencing their prior discussion with MALOFEYEV earlier that day and instructing Hanick to create two types of programs and allocate staff. KOMOV further wrote, “Hopefully Konstantin will be providing general direction and guidance for both projects. Looking forward to our long-term co-operation on those exciting endeavors!”  In turn, Hanick requested KOMOV to serve as a moderator for the first broadcast, writing “KM [i.e. MALOFEYEV] and I agree that we need you on this the first show on [the Russian TV Network]!!!”

    With KOMOV’s participation, MALOFEYEV also employed Hanick to assist MALOFEYEV in transferring a shell company that MALOFEYEV owned to a Greek associate of MALOFEYEV (the “Greek Business Associate”).  In 2014, MALOFEYEV, assisted by KOMOV, had used the shell company to make a $10 million investment in a Texas-based bank holding company (the “Texas Bank”).  KOMOV helped set up the deal, emailing a Texas-based attorney (“Individiual-1”), “I plan to come to the US with two of my close friends Konstantin Malofeev [sic] and [another individual] on Feb 4-9, 2014 . . . I’d like the three of us to meet with you to discuss our cooperation, and also joint investment projects (please propose attractive investment opportunities with reliable partners for $50-100 mln participation from our side)”. On or about March 25, 2014, KOMOV wrote to Individual-I, “Konstantin has confirmed today that he goes ahead with the 10 mln investment in the bank project.”

    Beginning in or about March 2015, with KOMOV’s assistance, MALOFEYEV began making plans to transfer ownership of the shell company to the Greek Business Associate, in violation of the Ukraine-Related Sanctions Regulations.  On or about March 4, 2015, KOMOV wrote to Individual-1, “I need to discuss with you several things: previous investment in the bank project (we want to consider selling it)”.  On or about March 17, 2015, KOMOV wrote to Individual-I about the Texas Bank interest, in part, “We want to keep it where it is now, only the owner from our side changes.”  Consistent with that plan, in or about May 2015, MALOFEYEV’s attorney drafted a Sale and Purchase Agreement that purported to transfer the shell company to the Greek Business Associate in exchange for one U.S. dollar.  In June 2015 MALOFEYEV had Hanick physically transport a copy of MALOFEYEV’s certificate of shares in the Texas Bank from Moscow to Athens to be given to the Greek Business Associate.  MALOFEYEV signed the Sale and Purchase Agreement in June 2015, but the agreement was fraudulently backdated to July 2014 to make it appear that the transfer had taken place prior to the imposition of U.S. sanctions.  MALOFEYEV’s attorney then falsely represented to the Texas Bank that the transfer had taken place in July 2014, even though MALOFEYEV and his attorney well knew that the transfer of the shell company was executed in June 2015.

    The U.S. seized and forfeited approximately $5.4 million in the property traceable to MALOFEYEV’s Texas Bank investment, which had been converted by the Texas Bank in 2016 to cash held in a blocked U.S. bank account.  In February 2023, the U.S. Attorney General authorized a transfer of these forfeited funds to the State Department to support Ukrainian veterans.

    MALOFEYEV, of Russia, is believed to be in Russia and remains at large.

    *                *                *

    KOMOV, 53, a Russian national, is charged with conspiracy to violate and substantive violation of International Emergency Economic Powers Act, each of which carry a maximum potential sentence of 20 years in prison.

    The maximum potential sentences in this case are prescribed by Congress and provided here for informational purposes only, as any sentencing of the defendant will be determined by the judge.

    Mr. Williams praised the outstanding investigative work of the FBI and thanked the support and expertise of the Department of Justice’s National Security Division and Office of International Affairs in the conduct of this matter.

    The prosecution is being handled by the Office’s Illicit Finance and Money Laundering Unit.  Assistant U.S. Attorneys Vladislav Vainberg, Thane Rehn, Jessica Greenwood, and Trial Attorney Scott Claffee of the National Security Division’s Counterintelligence and Export Section are in charge of the prosecution. 
     

    [1] The entirety of the text of the Indictment, and the description of the Indictment set forth herein, constitute only allegations, and every fact described should be treated as an allegation.

    MIL Security OSI –