NewzIntel.com

Category: Europe

  • MIL-OSI United Kingdom: Pupils and Sunnymead residents celebrate Global Intergenerational Week

    Source: Northern Ireland City of Armagh

    The Global Intergenerational Week celebration at Sunnymead Residential Home.

    Pupils of Killylea Primary School joined forces with the residents of Sunnymead Residential Home in Armagh to celebrate Global Intergenerational Week in style.

    Music, crafts, some treats and plenty of laughs were had during the event which was organised with funding from the ‘All Ages April’ grant scheme run by Linking Generations NI (LGNI) with support from Public Health Agency NI.

    In total, ten events were held across the ABC Borough, for the All Ages April programme which was designed to create connections across generations and links between groups, settings and organisations that wouldn’t normally work together. LGNI’s vision is that these connections and relationships will continue into the future.

    ABC Age Friendly Officer Stephanie Rock also lent her support and visited Sunnymead Residential Home for the celebratory event.

    For more information on Age Friendly activities in the ABC Borough or to receive the ABC Seniors Newsletter you can call Stephanie on 07825 010630 or email

    *protected email*

    . Alternatively you can visit the Age Friendly webpage on the council website – www.armaghbanbridgecraigavon.gov.uk/agefriendly

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Ebrington to mark 80th anniversary of Battle of the Atlantic surrender

    Source: Northern Ireland – City of Derry

    Ebrington to mark 80th anniversary of Battle of the Atlantic surrender

    30 April 2025

    One of the most significant moments in world history will be commemorated in Derry next month with a special event to mark 80 years since the surrender of the Battle of the Atlantic, and the end of a fierce struggle to protect vital shipping lines that claimed over 100,000 lives during World War II.

    While the world reflects on the 80th anniversary of VE Day, the occasion will be marked locally by looking back on the city’s role, and the moment when Derry made the headlines across the globe. On May 14th 1945, the world looked on as the first eight German U-boats surrendered to Admiral Sir Max Horton at Lisahally and the German crew were marched through Ebrington Square, where there was relief and jubilation that the prolonged conflict had come to an end.

    On May 17th  BOA80 in Ebrington Square will recreate scenes from the bustling international base of the 1940’s, as living history characters bring the historic surrender of the Nazi U-Boat fleet and the conclusion of World War II to life. There will also be live music and entertainment reflecting the huge cultural transformation of the time.

    The event is organised by Derry City and Strabane District Council, looking back at a historic era when Derry was a major strategic command centre in the fight for control of the Atlantic Sea Routes. Lisahally was used for repairing and refuelling the Allied warships and served as one of the main escort bases for the northwest approaches. The collections on display and themes on the day will form part of a major gallery in the upcoming DNA Museum, and the event will be held just outside the buildings where DNA will be located. 

    Looking ahead to the BOA25 event, Mayor of Derry and Strabane, Councillor Lilian Seenoi Barr said it was an opportunity to reflect on what was a pivotal moment in history. “Derry is a city steeped in history and often we forget its strategic importance during World War II, although in terms of global significance it played a huge role. The billeting of Allied servicemen here during that time also had a major cultural influence here in the city, where people mingled with the US and Canadian forces.

    “There was much celebration when eventually the surrender was announced. At a time when we’re sadly all too aware of the devastating impacts of war, it’s important that we take lessons from the past and reflect on the importance of following alternative pathways towards peaceful resolution and diplomacy.”

    Council’s Head of Culture, Aeidin McCarter, said the programme would recreate a sense of the historic significance of the occasion. “We want to give people a snapshot of the era by reenacting some of the events of the day, and the atmosphere of celebration as the city was freed from the shadow of the war. Through our living history characters we will retell the story and give people a glimpse of 1945 Derry through the music and fashion from the day.

    “In the days before the event the Tower Museum team will also deliver a series of WII workshops for schools to raise awareness of the historic events and also the city’s vital role in bringing the conflict to an end. It will be an opportunity for people to view some of the Museum Service’s WWII collections and to step back in time to 1945 Derry as local people prepared to embrace peace after the turmoil of life during the war. Our team are excited to share the progress for the new DNA Museum on the day also.”

    In advance of the event, on May 13th from 10.30am – 12.30pm, Strathfoyle Library will host a special talk by local historians Pearse Henderson and David Jenkins to help set the scene, focusing on the impact of the surrender on the people living in the local area. People are encouraged to bring along artefacts from the time to help capture personal stories and memories of the historic time.

    On the day itself, enjoy live performances of the music of the roaring 40’s and see how the fashion of the time began to reflect the international influence of the troops. Military vehicles including a replica spitfire will set the scene for the historic reenactments throughout he afternoon.

    May 17th is also National Drawing Day, and local artist Chris Walker will be on site at Ebrington to help visitors capture the day in a series of live sketching sessions.  Chris will focus on some of the historic buildings, bridges and sculptures across Ebrington Square, helping budding artists learn to sketch, understand composition and pick up some tips. Bookings are not required and all materials will be provided.

    BOA80 will begin at 12noon – entry is free and all are welcome

    MIL OSI United Kingdom –

  • MIL-OSI Russia: SPbPU at the exhibition in Tashkent: how to choose the profession of the future and enter a leading technical university

    Translation. Region: Russian Federal

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

    The 27th international exhibition “Education and Profession 2025” was held in Uzbekistan. The largest international educational event of the republic was organized by the Agency for Youth Affairs, the Ministry of Preschool and School Education of Uzbekistan and the company “My Fair” with the support of Rossotrudnichestvo and the National Bank of Uzbekistan. The event, which covered 12 cities of the country, brought together a record 100 universities from 15 countries for Central Asia. Our university was also represented at the exhibition.

    The Education and Profession 2025 exhibition is a unique opportunity for applicants, students and young professionals to take a look into the future of their careers. Here you can learn about the requirements for admission to universities and colleges, scholarships and grants that make education more accessible, as well as about the professions that will determine the labor market in a few years – from IT development and bioengineering to sustainable development and digital art. Experts from leading universities reveal right at the exhibition which skills are critically important today. For example, the ability to work with data, adapt to change, manage a team or solve interdisciplinary problems.

    Deputy Head of the Agency for Youth Affairs Dilnozahon Kattakhanova emphasized the significance of the event: More than 100 universities are more than 100 opportunities for self-realization, discovering potential and choosing a decent education. Young people will be able to contribute to the development of science, technology and all spheres of life in the country.

    Head of Rossotrudnichestvo in Uzbekistan Irina Staroselskaya emphasized the importance of choice: Young people can choose not only a university, but also a country, a direction. The main thing is that education brings pleasure – after all, we spend most of our lives at work. Let the choice be conscious!

    Over the course of two days of the exhibition, the stand of the St. Petersburg Polytechnic University was visited by more than 1,700 high school students from Uzbekistan considering the possibility of studying in Russia. The main audience was senior students who studied in detail the prospects of entering Russian universities.

    Leading Advertising Manager of the SPbPU Center for International Recruitment and Communications Zhanna Trunkova and specialist of the Department for Work with Foreign Students Evgeniya Borodina held individual consultations for the guests. They explained in detail the conditions of enrollment, the range of available educational programs, as well as scholarship and financial support options for foreign students of the university.

    Uzbek schoolchildren received information about scholarships, admission requirements and promising professions. The speakers thanked the partners for their contribution to the organization of the largest educational project in the region.

    International educational exhibitions help not only to obtain information, but also to immerse yourself in a dialogue with universities. Personal consultations, career guidance tests and live communication with representatives allow you to compare your interests with the real demands of the economy. This is a chance to rethink career goals, choose an educational trajectory that corresponds to both personal ambitions and global trends, and also to begin building a professional path without gaps in knowledge, – emphasized the head of the International Education Department of SPbPU Evgeniya Satalkina.

    You can find out more about the admission procedure at Polytechnic University atSPbPU website, and fill out the form inin the applicant’s personal account.

    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 Asia-Pac: MOFA extends sincere condolences to French overseas department Mayotte in aftermath of Cyclone Chido

    Source: Republic of China Taiwan

    MOFA extends sincere condolences to French overseas department Mayotte in aftermath of Cyclone Chido

    Date：2024-12-16
    Data Source：Department of European Affairs

    December 16, 2024  
    No. 462  

    Cyclone Chido struck the French overseas department of Mayotte on December 14, with gusts exceeding 200 kilometers per hour. It was the strongest cyclone to hit the area in over 90 years. The local government stated that casualties likely numbered in the hundreds and that the storm had caused severe property damage. 
     
    Upon receiving news of the disaster, Foreign Minister Lin Chia-lung immediately instructed the Taipei Representative Office in France to convey President Lai Ching-te’s sincere sympathies and condolences on behalf of the government and people of Taiwan to French President Emmanuel Macron. Minister Lin emphasized that, if necessary, the Taiwan government would gladly provide disaster assistance. He also indicated that Taiwan would donate €250,000 through its representative office to assist with local disaster relief and postdisaster reconstruction efforts. 
    According to information available to the representative office in France, no Taiwanese nationals have been injured or stranded. The Ministry of Foreign Affairs and the representative office in France will continue to closely follow developments in Mayotte, maintain contact with the relevant French authorities, and provide any assistance necessary. (E)

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Taiwan donates €4 million to EBRD’s Ukraine Recovery and Reconstruction Guarantee Facility to help revitalize Ukrainian insurance market

    Source: Republic of China Taiwan

    Taiwan donates €4 million to EBRD’s Ukraine Recovery and Reconstruction Guarantee Facility to help revitalize Ukrainian insurance market

    Date：2024-12-14
    Data Source：Department of European Affairs

    December 14, 2024  
    No. 461  

    To assist Ukraine in revitalizing its domestic insurance market and to boost international investment interest in Ukraine, Taiwan has agreed to allocate €4 million from the TaiwanBusiness-EBRD Technical Cooperation Fund for the Ukraine Recovery and Reconstruction Guarantee Facility (URGF) initiative led by the European Bank for Reconstruction and Development (EBRD). The donation agreement was signed in Taipei on December 2 at a ceremony witnessed by Deputy Minister of Foreign Affairs Tien Chung-kwang. It was signed on behalf of Taiwan by Jonathan C. Y. Sun, Director General of the Department of International Organizations at the Ministry of Foreign Affairs, and by Director for Donor Partnerships Camilla Otto on behalf of the EBRD. 
     
    The EBRD held a ceremony to launch the URGF in its London headquarters on December 12, which was attended by Taiwan Representative to the United Kingdom Vincent C. H. Yao. In his remarks at the event, Representative Yao said that Taiwan staunchly supported Ukraine and looked forward to working with like-minded democratic allies to assist in Ukraine’s reconstruction through the URGF mechanism.
     
    Due to the Russia-Ukraine war, international reinsurance companies have had reservations about providing coverage for businesses operating in Ukraine. The EBRD thus aims to raise €110 million via the URGF mechanism so as to provide additional guarantees for potential losses incurred by war-related risks. This will increase international investor confidence and, in turn, accelerate economic recovery and improve the lives of the Ukrainian people. France, the United Kingdom, Norway, the European Union, and Switzerland have also pledged to donate to the URGF. (E)

    MIL OSI Asia Pacific News –

  • MIL-OSI: UAB„Orkela“ Publishes Audited Financial Statements for the Year, Ended 31 December 2024.

    Source: GlobeNewswire (MIL-OSI)

    UAB „Orkela“ (hereinafter – the Company) publishes audited financial statements for the year. Ended 31 December 2024.

    The main activity of the Company is real estate development and construction. The Company

    owns a land plot and a building complex located on Vasario 16-osios st. 1, Vilnius.

    Key events in 2024

    • During 2024, the Company issued 15,156 units of secured non-convertible bonds, each with a nominal value of EUR 1,000.As of 31 December 2024, the Company issued 38,658 units of secured non-convertible bonds.
    • During 2024, the Company leased 4,333 sq m of administrative space in an object under development located on Vasario16-osios st. 1, Vilnius.

    Key events after the end of the financial year

    • As of 31 December 2024, the bonds were due to be redeemed in January 2025. The Company, having received the approval of the bondholders, extended the term until 19 July 2025.
    • Q I 2025 The Company leased an additional 922 sq m of space, thus increasing the occupancy of the object to 92%.
    • On 10 April 2025, the State Territorial Planning and Construction Inspectorate under the Ministry of Environment approved the completion of the construction of the administrative part of the project.

    The decision of the sole shareholder

    According to the Law on Companies of Republic of Lithuania, the annual financial statements prepared by the management must be approved by the General Shareholders’ meeting. The shareholders of the Company have the right to approve or not to approve the financial statements and to demand the preparation of new annual financial statements.

    On 30 April 2025 the Company’s shareholder made a decision regarding the approval of the Company’s financial statements for the year 2024 and the distribution of profit (loss) as indicated below:

    Article Sum, EUR
    Retained earnings (losses) – at the beginning of the financial year (10,921,587)
    Comprehensive income for the reporting period – net profit (loss) of the reporting year 1 412 324
    Profit transfer to the legal reserve –
    Payment of dividends from undistributed profit –
    Retained earnings (losses) – at the end of financial year (9 509 263)
    Profit distribution:  
    To be paid out as dividends –
    Transfer to the legal reserve –
    Retained earnings (losses) for 2024 and prior financial years (9 509 263)

    More information:

    Director of UAB „Orkela“

    Anastasija Pocienė

    Anastasija.Pociene@lordslb.lt

    +370 671 16 232

    Attachment

    The MIL Network –

  • MIL-OSI Economics: CBB Governor meets Senior Deputy Governor of Banca d’Italia

    Source: Central Bank of Bahrain

    Published on 30 April 2025

    Manama, Bahrain, 30 April 2025– HE Khalid Humaidan, Governor of the Central Bank of Bahrain, met with Mr. Luigi Federico Signorini, Senior Deputy Governor of Banca d’Italia, as part of the Bahrain’s delegation’s visit to Italy which aims to strengthen economic and trade ties between both countries. HE Mr. Osama Abdullah Al-Absi, Ambassador of the Kingdom of Bahrain to the Italian Republic and other officials were also in attendance.

    During the meeting, HE the Governor emphasized the importance of further development of the financial services sector, through the adaptation and implementation of numerous policies and strategic initiatives in line with the latest innovative financial technologies. HE the Governor also highlighted the importance of sharing views on best practices and experiences with regional and global financial institutions to promote economic development and support sustainable growth.

    The meeting also discussed means of enhancing cooperation in financial services and other topics of mutual interest.

    Share this

    MIL OSI Economics –

  • MIL-OSI Economics: FdCoin and FdBank: BaFin warns consumers about websites and identity fraud

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    fdcoin.de
    fondsdebotbank.de
    fonddepobank.de
    fondsdepotsbank.de
    fondsdepodbank.de
    fonddepotbank.eu
    fondsdepodbank.de
    fondsdepotbank.eu and
    fd-bank.de

    are offering cryproasset services without the required authorisation. These offers are in no way connected to the Fondsdepot Bank – a brand of FNZ Bank SE, which has its registered office in Aschheim, Germany. This is a case of identity fraud.

    BaFin is issuing this information on the basis of section 10 (7) of the German Cryptomarkets Supervision Act (Kryptomärkteaufsichtsgesetz – KMAG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics –

  • MIL-OSI United Kingdom: European-first semiconductor facility launches in Southampton

    Source: United Kingdom – Executive Government & Departments

    Press release

    European-first semiconductor facility launches in Southampton

    A new facility to build the next generation of semiconductor chips, and the first of its kind in Europe, was opened at the University of Southampton.

    • Science Minister Lord Vallance unveils new electron beam facility for creating incredibly small patterns onto chips to enable breakthroughs in AI and medical tech
    • Comes alongside nearly £5 million in new government support to boost talent pipeline and address skills gap in growing semiconductor industry
    • Support will fund new bursaries, chip design courses and outreach in schools – helping deliver growth as part of our Plan for Change by strengthening our sector and creating high-skilled jobs

    A new facility using cutting edge electron beam technology to build the next generation of semiconductor chips, and the first of its kind in Europe, was opened at the University of Southampton by Science Minister Lord Vallance today (Wednesday 30 April).

    The new E-beam lithography facility is just the second in the world, and first outside Japan, and provides incredible accuracy that is critical to designing the tiny components that power technologies of the future, from medical diagnostics to defence systems.

    Semiconductors – the small chips that power devices from smartphones to satellites – already contribute an estimated £10 billion to our economy each year, with the sector projected to grow to an estimated £17 billion by 2030.

    Strengthening the sector offers a major opportunity to drive the growth at the heart of our Plan for Change, through boosting innovation and jobs. It also supports the UK’s wider Industrial Strategy to grow key advanced manufacturing sectors and secure global competitiveness.

    E-beam lithography uses a focused beam of tiny particles called electrons to create patterns in materials with unrivalled resolution – allowing researchers to create features thousands of times smaller than a human hair.

    Science Minister, Lord Vallance, said:

    Britain is home to some of the most exciting semiconductor research anywhere in the world – and Southampton’s new E-beam facility is a major boost to our national capabilities.

    By investing in both infrastructure and talent, we’re giving our researchers and innovators the support they need to develop next-generation chips right here in the UK.

    Our £4.75 million skills package will support our Plan for Change by helping more young people into high-value semiconductors careers, closing skills gaps and backing growth in this critical sector.

    The Science Minister’s visit to Southampton comes alongside new research being published today, which shows that one of the biggest barriers to achieving growth in the UK’s burgeoning semiconductor industry is a lack of emerging talent. With a single semiconductor worker contributing an average of £460,000 to the economy annually, the sector’s economic potential is huge.

    In response, the government has launched a new £4.75 million semiconductor skills package to help build the talent base needed to fuel this high-growth industry. The package will also help strengthen R&D capacity at leading universities, such as Southampton, which are central to UK semiconductor innovation and talent development. 

    By supporting local talent pipelines and university–industry collaboration, the programme will contribute to both regional and national economic growth, fuelling our Plan for Change, and reinforcing the role the semiconductors industry is set to play in the Industrial Strategy.

    The package includes:

    • £3 million for undergraduate bursaries, offering £5,000 each to 300 students starting Electronics and Electrical Engineering degrees this year, alongside specialist semiconductor content to raise awareness of the field, with a focus on courses that include semiconductor design and manufacturing.
    • £1.2 million for chip design training, with new chip design courses to teach practical chip design skills to undergraduates, postgraduates, and lecturers, as well as a feasibility study for new postgraduate conversion courses.
    • Almost £550,000 for school outreach, giving 7,000 students aged 15–18 and 450 teachers hands-on semiconductor experience in partnership with local employers, helping raise awareness and diversify the future workforce. This programme will be focused on existing UK semiconductor clusters – such as Newport, Cambridge, and Glasgow – helping to strengthen these ecosystems and create long-term career opportunities.

    This targeted skills support will underpin the long-term success of the UK semiconductor sector – helping to attract more students into high-value careers, fill key vacancies and support UK leadership in critical and emerging technologies that will be instrumental to our mission to grow the economy.

    University of Southampton’s Professor Graham Reed, who leads its Optoelectronics Research Centre (ORC), said:

    The introduction of the new E-Beam facility will reinforce our position of hosting the most advanced cleanroom in UK academia.

    It facilitates a vast array of innovative and industrially relevant research, and much needed semiconductor skills training.

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 3000

    Updates to this page

    Published 30 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI Europe: ECB study shows money market turnover rose from 2022 to 2024

    Source: European Central Bank

    30 April 2025

    • Money market rates efficiently reflected changes in the ECB’s deposit facility rate, used by Governing Council to steer monetary policy stance
    • Increased daily money market activity, dominated by secured and foreign exchange swap segments
    • High concentration in short-term tenors, with non-banks being most active counterparties

    The European Central Bank (ECB) today published its Euro money market study 2024. The study shows that daily turnover in the euro money market grew by 38% to €1.8 trillion in the two years to the end of 2024, up from €1.3 trillion at the end of 2022. The reasons for this growth are mainly twofold: banks adapting to declining excess liquidity by trading more in money markets and changes to monetary policy rates that influenced the shape of the yield curve.

    Secured and foreign exchange swap transactions accounted for more than half of total market turnover and outstanding amounts, with the overnight index swap segment showing the most significant growth.

    The study also highlights that activity in both the secured and unsecured segments was particularly concentrated in very short-term tenors such as overnight, spot/next and tomorrow/next transactions.

    As at the end of 2024, bilateral trading activity among euro area banks as a share of the total in each segment was modest with 17% for unsecured and 26% for foreign exchange swaps. Compared with the period from 2021 to 2022, secured trading with public institutions increased significantly to almost €70bn from €10bn following the reduction in the remuneration of non-monetary policy deposits that took effect as of 1 May 2023.

    The study finds that the continuation of interest rate hikes by the ECB until September 2023 and the subsequent cuts starting in June 2024 were immediately and fully reflected in money market rates and that policy rate expectations triggered significant activity in the overnight index swap segment.

    Money market rates converged towards the deposit facility rate – the interest rate through which the Governing Council of the ECB steers its monetary policy stance – albeit to different degrees. As a result, a persistent positive spread emerged between secured and unsecured overnight rates, as €STR showed low sensitivity to reductions in excess liquidity (see details in box 1).

    The next euro money market study, set for publication in the second quarter of 2027, will broaden the scope of analysis to include trades from 69 banks compared with 45 banks in the 2024 study. This reflects the increase in the number of money market statistical reporting agents as announced in April 2023.

    For media queries, please contact Lena-Sophie Demuth, tel.: +49 162 295 2316.

    Notes

    • The ECB’s euro money market study is published every second year. The 2024 study provides a detailed overview of the euro money market in the period between January 2023 to December 2024. It focuses on key developments and dynamics in five euro money market segments: secured, unsecured, short-term securities, foreign exchange swaps and overnight index swaps.
    • The study is based on daily transactions in the euro money market collected from the largest euro area banks under Regulation (EU) No 1333/2014 of the European Central Bank of 26 November 2014 concerning statistics on the money markets (ECB/2014/48) (OJ L 359, 16.12.2014, p. 97) – the Money Market Statistical Reporting (MMSR) Regulation.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Cutting the cost of transport crucial to reducing car numbers

    Source: Scottish Greens

    30 Apr 2025 Transport

    It’s time to lower transport prices to protect people and planet.

    More in Transport

    If we are to reduce the number of cars on our road we must ensure that transport is affordable and accessible for all, says Scottish Green MSP Mark Ruskell.

    Mr Ruskell was speaking ahead of a Tory debate on Ending the “War” Against Scotland’s Motorists.

    Mr Ruskell said:

    “Scotland is on the road to climate chaos. We’ve known for decades that to tackle the climate emergency, we need to cut car use, but SNP and Labour governments have failed to act.

    “Transport emissions remain the largest source of pollution in Scotland, and private car use makes up a huge share of that, but action has been lacking. Just last week, the Scottish Government scrapped their target to reduce car journeys by 2030.

    “We need to ensure that public transport is always affordable and accessible. That means cheaper trains and buses, better connections for rural communities, and an end to spending on new unnecessary road building schemes.

    “Scottish Greens have been working to make your commute cheaper by scrapping peak rail fares whilst in government, securing a bus fare cap and introducing free bus travel for young people.

    “We all benefit from having less cars on the road. It means cleaner and safer streets and communities and less congestion misery for commuters.

    “There are many who want to play their part in reducing our carbon emissions, but the cost is simply too high for them.

    “We need to deliver even more radical change to make public transport more accessible for all, and that can only be delivered with more Scottish Greens in Holyrood.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Universal Periodic Review 49: UK Statement on Spain

    Source: United Kingdom – Executive Government & Departments

    Speech

    Universal Periodic Review 49: UK Statement on Spain

    Statement by the UK’s Permanent Representative to the WTO and UN, Simon Manley, at Spain’s Universal Periodic Review at the Human Rights Council in Geneva.

    Thank you Mr President,

    Welcome to the Secretary of State.

    The United Kingdom welcomes Spain’s strong commitment to of human rights.

    We commend the the passing of the new Cross-Party Pact against gender-based violence. We urge Spain to continue to develop and implement a comprehensive national action plan to address human trafficking.

    We also recognise  efforts to address its housing crisis with the Law on Housing Rights. However, we are concerned about the barriers hindering its effective implementation

    We recommend that Spain:

    1. Develops a strategic housing plan with sufficient funding for social housing to meet the objectives of Spanish recent legislation.

    2. Enhances support services for migrant children by integrating their specific needs into the national framework to protect and promote their rights.

    3. Develops and implements a National Action Plan that adequately addresses all forms of human trafficking, including that of women and girls.

    Thank you.

    Updates to this page

    Published 30 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI Europe: Italy-Türkiye Business Forum

    Source: Government of Italy (English)

    29 Aprile 2025

    The President of the Council of Ministers, Giorgia Meloni, and the President of the Republic of Türkiye, Recep Tayyip Erdoğan, both delivered an address at the Italy-Türkiye Business Forum in Rome today.

    MIL OSI Europe News –

  • MIL-OSI: Municipality Finance issues a EUR 100 million tap under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    30 April 2025 at 10:00 am (EEST)

    Municipality Finance issues a EUR 100 million tap under its MTN programme

    On 2 May 2025 Municipality Finance Plc issues a new tranche in an amount of EUR 100 million to an existing benchmark issued on 28 January 2025. With the new tranche, the aggregate nominal amount of the benchmark is EUR 1.350 billion. The maturity date of the benchmark is 14 December 2029. The benchmark bears interest at a fixed rate of 2.625 % per annum.

    The new tranche is issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

    MuniFin has applied for the new tranche to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 2 May 2025. The existing notes in the series are admitted to trading on the Helsinki Stock Exchange.

    Danske Bank A/S acts as the Dealer for the issue of the new tranche.

    MUNICIPALITY FINANCE PLC

    Further information:

    Joakim Holmström
    Executive Vice President, Capital Markets and Sustainability
    tel. +358 50 444 3638

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the State of Finland.
    The Group’s balance sheet is over EUR 53 billion.

    MuniFin builds a better and more sustainable future with its customers. MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, corporate entities under their control, and non-profit organisations nominated by the Housing Finance and Development Centre of Finland (ARA). Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.
    .

    MuniFin’s customers are domestic but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

    Read more: https://www.kuntarahoitus.fi/en/

    Important Information

    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

    This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

    The MIL Network –

  • MIL-OSI: Combined General Shareholders’ Meeting of May 22, 2025: availability of preliminary documents

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    VELIZY-VILLACOUBLAY, France — April 30, 2025

    COMBINED GENERAL SHAREHOLDERS’ MEETING
    OF MAY 22, 2025

    Availability of preliminary documents

    Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) informs its shareholders that its Combined Shareholders’ Meeting will be held on Thursday, May 22, 2025 at 3:00 pm at Dassault Systèmes’ headquarters, 10 rue Marcel Dassault – 78140 Vélizy-Villacoublay.

    The preliminary notification stating the agenda and the draft resolutions was published in the Bulletin des Annonces Légales Obligatoires (BALO) on April 14, 2025, and is available on Dassault Systèmes’ website at the following address: https://investor.3ds.com/shareholders-meeting/home.

    The convening notice stating the agenda will be published on May 2, 2025 in the BALO and will be made available at the foregoing address.

    Documents and information relating to this meeting and especially information provided by the article R.22-10-23 of the French Commercial code, are available to the shareholders at the foregoing internet address. They will also be available at Dassault Systèmes’ headquarters.

    Shareholders are invited to consult the Dassault Systèmes’ 2024 Universal Registration Document, filed on March 18, 2025 with the Autorité des marchés financiers (AMF) and available on Dassault Systèmes’ website at the forgoing internet address. It provides a major part of information mentioned in the article R.225-83 of the French Commercial code.

    ###

    ABOUT DASSAULT SYSTÈMES

    Dassault Systèmes is a catalyst for human progress. Since 1981, the company has pioneered virtual worlds to improve real life for consumers, patients and citizens. With Dassault Systèmes’ 3DEXPERIENCE platform, 370 000 customers of all sizes, in all industries, can collaborate, imagine and create sustainable innovations that drive meaningful impact. For more information, visit www.3ds.com

    Dassault Systèmes Investor Relations Team                FTI Consulting
    Béatrix Martinez :                                        Arnaud de Cheffontaines: +33 1 47 03 69 48
    +33 1 61 62 40 73                                        Jamie Ricketts : +44 20 3727 1600
    investors@3ds.com                                        

    Dassault Systèmes Press Contacts
    Corporate / France        
    Arnaud Malherbe: +33 1 61 62 87 73
    arnaud.malherbe@3ds.com        

    © Dassault Systèmes. All rights reserved. 3DEXPERIENCE, the 3DS logo, the Compass icon, IFWE, 3DEXCITE, 3DVIA, BIOVIA, CATIA, CENTRIC PLM, DELMIA, ENOVIA, GEOVIA, MEDIDATA, NETVIBES, OUTSCALE, SIMULIA and SOLIDWORKS are commercial trademarks or registered trademarks of Dassault Systèmes, a European company (Societas Europaea) incorporated under French law, and registered with the Versailles trade and companies registry under number 322 306 440, or its subsidiaries in the United States and/or other countries. All other trademarks are owned by their respective owners. Use of any Dassault Systèmes or its subsidiaries trademarks is subject to their express written approval.

    Attachment

    The MIL Network –

  • MIL-OSI Economics: Deputy Secretary-General of ASEAN for Community and Corporate Affairs meets Director General of Asia and the Pacific, German Foreign Office

    Source: ASEAN

    Deputy Secretary-General of ASEAN for Community and Corporate Affairs, H.E. Nararya Sanggramawijaya Soeprapto, receives Director General of Asia and the Pacific, German Foreign Office, H.E. Frank Hartmann, at the ASEAN Headquarters today. They discussed ASEAN-Germany development cooperation partnership, as well as potential future development cooperation.
     

    MIL OSI Economics –

  • MIL-OSI: On Natural Gas Transmission System Operator’s Revenue Cap of Regulated Activities for 2026

    Source: GlobeNewswire (MIL-OSI)

    AB Amber Grid, legal entity code: 303090867. Address: Laisvės pr. 10, LT-04215 Vilnius, Lithuania.

    On 30 April 2025, the National Energy Regulatory Council (hereinafter referred to as “Council”) adopted a decision on the revenue cap of AB Amber Grid’s regulated activities, providing natural gas transportation via the natural gas transmission network services, effective from 1st of January 2026.

    The revenue cap of regulated activities for year 2026 is set at 82.95 million EUR per year. This is 30.0 % more than the approved revenue cap for year 2025, which is 63.83 million EUR.

    Compared to 2025, due to inflation and implemented investments, the regulated costs of all categories increases by ~10% in 2026. Additionally, the final compensation to the Polish natural gas transmission operator (for the implementation of the Lithuania–Poland interconnection project of common interest) is included, contributing to a further ~3% increase in costs. Another significant reason for the increase (~17%) in the revenue cap is the adjustment for deviations in revenues, costs, and return on investment rate for previous periods.

    The anticipated further price-related decisions:

    • The Board of Amber Grid will approve prices on using natural gas transmission network infrastructure, effective from 1st of January 2026, not exceeding revenue cap.

    • After the decision of the Board of Amber Grid the prices will be presented to the Council for approbation.

    More information:

    Laura Šebekienė, Head of Communications of Amber Grid,

    ph. +370 699 61 246, e-mail: l.sebekiene@ambergrid.lt

    The MIL Network –

  • MIL-OSI: Resolutions of the General Ordinary Shareholders Meeting of INVL Technology

    Source: GlobeNewswire (MIL-OSI)

    The resolutions of the General Ordinary Shareholders Meeting (hereinafter – “the Meeting“) of special closed-ended type private equity investment company INVL Technology (hereinafter – “the Company”) that was held on 30 April 2025:

    1. Presentation of the Company‘s annual management report for 2024.

    1.1. Shareholders of the Company were presented with the annual management report of the Company for 2024 (attached) (there is no voting on this issue of agenda).

    2. Presentation of the independent auditor’s report on the financial statements and annual management report of the Company.

    2.1. Shareholders of the Company were presented with the independent auditor’s report on the financial statements and annual management report of the Company (attached) (there is no voting on this issue of agenda).

    3. Presentation of the Company‘s investment committee‘s recommendation on the draft of the profit (loss) distribution (including the formation of the reserve) and the draft of the information about   remuneration report.

    3.1. Shareholders of the Company were presented with the Company‘s investment committee‘s recommendation on the draft of the profit (loss) distribution (including the formation of the reserve), and the draft of the remuneration report (attached) (there is no voting on this issue of agenda).

    4. Regarding the assent to the remuneration report of the Company, as a part of the annual management report of the Company for the year 2024.

    4.1. To assent to the information about remuneration of the Company, as a part of the annual management report of the Company for the year 2024 (attached).

    5. Approval of the stand-alone financial statements for 2024 of the Company.

    5.1. To approve the stand-alone financial statements for 2024 of the Company.

    6. Deciding on profit distribution of the Company.

    6.1. To distribute the profit of the Company as follows:

    Article (thousand EUR)
    Retained earnings (loss) at the beginning of the financial year of the reporting period 21,673
    Net profit (loss) for the financial year 8,089
    Profit (loss) not recognized in the income statement of the reporting financial year –
    Shareholders’ contributions to cover loss –
    Distributable profit (loss) at the end of the financial year of the reporting period        29,762
    Transfers from reserves –
    Distributable profit (loss) in total 29,762
    Profit distribution:  
    – Profit transfers to the legal reserves –
    -Profit transfers to the reserves for own shares acquisition* –
    – Profit transfers to other reserves –
    – Profit to be paid as dividends –
    – Profit to be paid as annual payments (bonus) and for other purposes –
    Retained earnings (loss) at the end of the financial year 29,762

    7. Presentation of the Company‘s Management Company‘s statement on the share purchase price.

    7.1. Shareholders of the Company were presented with the Company‘s Management Company‘s statement on the share purchase price (attached) (there is no voting on this issue of agenda).

    8. Regarding the purchase of own shares of the Company.

    8.1. To authorise the Management Company to use the formed reserve (or the part of it) for the purchase of its own shares and after evaluation of the economic viability to purchase shares in INVL Technology by the rules mentioned below:

    1. The goal for the purchase of own shares – to meet obligations arising from share option programs, or other allocations of shares, to employees of subsidiary companies and/or to reduce the authorized capital of the Company by cancelling the shares purchased by the Company;
    2. The maximum number of shares to be acquired could not exceed 1/10 of the authorised capital INVL Technology.
    3. The period during which INVL Technology may purchase its own shares is 18 months from the day of this resolution.
    4. The maximum and minimal shares acquisition price of INVL Technology:  the maximum one-share acquisition price – is the last announced net asset value per share, and the minimal one-share acquisition price – is EUR 0.29.
    5. the conditions of the selling of the purchased shares and minimal selling price – the purchased shares are not planned to be sold and therefore the minimum selling price and the selling procedure for the shares are not determined. Own shares purchased by INVL Technology can be granted (given the right to purchase them) to the employees of the subsidiary companies by the decision of the Management Company, in accordance with the Rules on granting the shares. The shares acquired by the Company may be cancelled by decision of the General Meeting of Shareholders.
    6. the Management Company is delegated on the basis of this resolution, the Law on Companies of the Republic of Lithuania and other legal acts, to make specific decisions regarding the purchase of the Company’s own shares, to organize procedure of purchase of own shares, determine the method and procedure for purchase of own shares (including the right to buy back shares in accordance with the provisions of Article 5, paragraph 1 of the European Parliament and Council Regulation (EU) No. 596/2014 on market abuse), timing as well as the amount of shares and shares’ price, and to complete all other actions related with purchase procedure of own shares.

    8.2. To initiate the reduction of the Company’s authorized capital by canceling the shares purchased by the Company, only if the amount of own shares purchased will exceed the amount of shares required to grant shares to the employees of the Company’s subsidiaries, by 100,000 units or more of the Company’s shares.

    8.3.To establish that after adopting this resolution the resolution of the General Meeting of Shareholders of 30 April 2024 regarding acquisition of the Company’s own shares shall expire.

    9. Presentation of the Report of the Audit Committee of the Company

    9.1. In accordance with the rules of procedure of the Audit Committee of the Company (approved on 28 April 2023 by decision of the General Meeting of Shareholders), the shareholders are hereby briefed on the activity report of the Audit Committee of the Company (attached) (there is no voting on this issue of agenda).

    10. Regarding the election of the Audit Committee members of the Company.

    10.1. Given that in 2025, the term of office of the members of the Audit Committee of the Company expires, to elect three members: Dangutė Pranckėnienė, Andrius Lenickas and Tomas Bubinas to the Audit Committee of the Company for new 4 (four) years term of office.

    11. Regarding the determination of the remuneration of the Audit Committee members of the Company.

    11.1. To set the hourly remuneration for each member of the Audit Committee of the Company at EUR 200 per hour (before taxes) for the service on the Audit Committee of the Company. The remuneration is paid for actual hours spent while performing the activities of the Audit Committee member.

    12. Regarding the approval of new version of Regulations of Audit Committee of the Company

    12.1. Considering the changes in the Law of the Republic of Lithuania on the Audit of Financial Statements and Other Assurance Services regarding the obligations of the Audit Committee as well as the election of three Audit Committee members for the new term of office, the Regulations of the Audit Committee are updated accordingly. It is proposed to the shareholders of the Company to approve the new version of the Regulations of Audit Committee.

    Additional information:

    The shareholders of INVL Technology, a company investing in IT businesses, approved the company’s operating results for 2024, procedures for the acquisition of own shares, and a new Audit Committee composition. 

    INVL Technology had an audited net profit of EUR 8.09 million in 2024, 56.6% more than in 2023. The company’s equity and net asset value were EUR 51.43 million at the end of December 2024, which is 18.2% more than a year earlier. The value per share of its equity and NAV was EUR 4.2896 and grew 19%. 

    A meeting of the company’s shareholders on 30 April authorized the acquisition of up to 10% of the company’s authorized capital. It set a time limit for such acquisitions of 18 months from the date of the shareholders’ decision.  

    The maximum purchase price per share would be INVL Technology’s last published net asset value per share, while the minimum would be EUR 0.29. Since the acquired shares will not be sold, no minimum selling price or sale procedure are stipulated.  

    The aim of acquiring shares is to fulfil obligations related to stock option programmes and other share allocations to employees of subsidiaries, and/or to reduce the company’s authorized capital, annulling acquired own shares.  

    Given that in 2025 the term of office of the members of INVL Technology’s Audit Committee expires, Dangutė Pranckėnienė, Andrius Lenickas and Tomas Bubinas were elected as members for a new four-year term of office. 

    INVL Technology owns the cybersecurity company NRD Cyber Security, the GovTech and FinTech company NRD Companies, and the Baltic IT company Novian. 

    In mid-March last year, the company announced that it had signed an agreement with the Zurich branch of M&A intermediation service provider Corum Group’s Luxembourg-based unit Corum Group International, to advise and serve as M&A intermediary on the sale of the company’s portfolio of businesses. 

    INVL Technology, which is managed by INVL Asset Management, the leading alternative asset manager in the Baltics, is a closed-end investment company which must exit its investments no later than mid-July 2026 and distribute the money to shareholders. 

    The person authorized to provide additional information:
    Kazimieras Tonkūnas
    INVL Technology Managing Partner
    E-mail k.tonkunas@invltechnology.lt

    Attachments

    The MIL Network –

  • MIL-OSI Asia-Pac: Foreign Minister Lin hosts welcome luncheon for Ukrainian delegation led by Lviv Mayor Sadovyy

    Source: Republic of China Taiwan

    Foreign Minister Lin hosts welcome luncheon for Ukrainian delegation led by Lviv Mayor Sadovyy

    Date：2024-12-28
    Data Source：Department of European Affairs

    December 28, 2024  
    No. 468  

    Minister of Foreign Affairs Lin Chia-lung on December 27 hosted a luncheon to welcome a Ukrainian delegation led by Lviv Mayor Andriy Sadovyy. During the event, the two sides exchanged views on the ongoing Russia-Ukraine war, the peaceful development of Ukraine, the strengthening of local municipal exchanges, the building of resilient cities, and other initiatives. In addition to sharing with the guests Taiwan’s experience and insights regarding economic transformation and high-tech industrial development, Minister Lin stressed that cities in Taiwan and Ukraine could engage in exchanges at the annual Smart City Summit and Expo held in Taiwan.
     
    The visiting delegation thanked the Taiwan government for its humanitarian assistance and support to Ukraine, adding that the Ukrainian people were deeply moved by Taiwan’s goodwill. They expressed the wish that the two countries could further engage in reciprocal support and cooperation on the basis of friendship and mutual trust. 
     
    Lviv is the largest city in western Ukraine. Following the outbreak of the Russia-Ukraine war, it has become an important hub for other countries to deliver humanitarian aid to Ukraine as well as a major medical base to which wounded soldiers and patients are transferred for follow-up treatment. On December 27, the Taipei Representative Office (TRO) in Poland, the Lviv city government, and the Multidisciplinary Clinical Hospital of Emergency and Intensive Care signed a memorandum on cooperation and partnership for the reconstruction of the UNBROKEN National Rehabilitation Center in Lviv. The virtual signing ceremony was witnessed by Deputy Minister of Foreign Affairs François Chihchung Wu. The government of Taiwan will fund the renovation of a rehabilitation facility, which will be named the Taiwan Friendship Building to accentuate Taiwan’s donation and friendship. 
     
    Speaking as Taiwan’s representative at the MOU signing ceremony, Deputy Minister Wu stated that postsurgery rehabilitation would be available to military personnel and civilians at the Taiwan Friendship Building in the UNBROKEN center and that the Taiwan government would continue to work with Lviv on the basis of mutual trust and support so as to help Ukraine work toward a brighter future amidst current adversity. Mayor Sadovyy presented a briefing on UNBROKEN’s operations and the recovery of those injured. Noting that the rehabilitation facility to be renovated with Taiwan government funding would benefit more Ukrainian patients, he expressed heartfelt appreciation to the government and people of Taiwan. 
     
    UNBROKEN is a national rehabilitation center supported by Ukraine’s Ministry of Health and overseen by the Lviv city government. The center includes a general hospital, a children’s hospital, a rehabilitation center, a surgery facility, a prosthetics manufacturing facility, and temporary housing. To date, more than 940,000 Ukrainian patients have received medical treatment at this nationally renowned center. The facility to be renovated with Taiwan’s assistance is a seven-story building located in the western part of the center. Once the project is completed, it will be home to specialized departments and provide such diverse medical and rehabilitation services as physical therapy, psychological consultations, and prosthetic fittings. It is expected to have the capacity to serve 13,000 patients simultaneously. (E)

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: 2024 diplomacy review: building a new Taiwan of democracy, peace, and prosperity through integrated diplomacy

    Source: Republic of China Taiwan

    December 30, 2024  
    No. 471  

    In 2024, the global landscape underwent rapid changes; geopolitical turmoil continued unabated; democracy and authoritarianism remained starkly divided; the Russia-Ukraine war deadlocked; and instability prevailed in the Middle East, the South China Sea, the Korean Peninsula, and even in the first island chain. All of these events highlighted the increasingly formidable challenges that the world faces from the axis of upheaval. 
     
    Meanwhile, the Republic of China (Taiwan) successfully completed its eighth presidential election on January 13, another milestone in its democratic advancement. The situation across the Taiwan Strait continued to elicit a high level of international concern, while the Indo-Pacific became pivotal to global strategy. All of these developments were closely intertwined with Taiwan’s national security and interests.
     
    Diplomats at the Ministry of Foreign Affairs (MOFA) and its overseas missions showed resilience and self-confidence. They did their utmost to safeguard Taiwan’s sovereignty, dignity, and interests, as well as the Taiwanese people’s rights and interests. Building on the excellent foundation laid by steadfast diplomacy over the past eight years, MOFA implemented integrated diplomacy, which aims at realizing values-based diplomacy and transforming Taiwan into a thriving global economic powerhouse as envisioned by President Lai Ching-te. Based on the three pillars of democracy, peace, and prosperity, MOFA fostered cooperation and deepened partnerships. MOFA pursued mutual benefits and coprosperity with diplomatic allies and like-minded nations, demonstrating that Taiwan was a pivotal force for stability and prosperity in the Indo-Pacific and underscoring its value as a global model of freedom and democracy. 
     
    Democratic Taiwan neither yielded nor provoked, remaining calm and confident. It worked with the global democratic community to respond to threats posed by authoritarian regimes. Taiwan stood firm and resilient against authoritarian expansionism, actively provided international humanitarian assistance during times of crisis, and leveraged its strengths to share prosperity with diplomatic allies and like-minded countries. For its contributions, Taiwan gained worldwide acclaim and recognition from all sectors. 
     
    With the support of Taiwan’s people, MOFA and its overseas missions spared no effort to promote head-of-state diplomacy. In December, President Lai led a delegation to Pacific diplomatic allies the Marshall Islands, Tuvalu, and Palau under the theme “Smart and Sustainable Development for a Prosperous Austronesian Region.” He achieved the three main objectives of smart sustainability, sustainable democracy, and sustainable diplomatic ties while also making successful US transit stops in Hawaii and Guam. The tour was immensely productive and successfully consolidated international support for Taiwan. It both deepened Taiwan’s friendships with allies and launched a new era of values-based diplomacy. 
     
    In October, Minister of Foreign Affairs Lin Chia-lung, serving as special presidential envoy, attended celebrations marking the 45th anniversary of the independence of Saint Vincent and the Grenadines. He also visited Guatemala, Saint Lucia, Belize, and Saint Christopher and Nevis, where he witnessed the achievements of values-based diplomacy and economic and trade diplomacy. In addition, he deepened partnerships on the foundations already laid for bilateral cooperation. In November, Minister Lin visited Belgium, where the European Parliament is headquartered, as well as Lithuania and Poland, further enhancing democratic alliances and cooperation as well as economic and trade linkages between Taiwan and Europe. 
     
    International friendship and support for Taiwan reached new heights this year. Following the successful completion of Taiwan’s presidential and legislative elections in January, more than 1,600 prominent political figures from over 100 countries offered congratulations. Taiwan’s significant success in diplomacy was substantively reflected through its solid formal alliances, rock-solid partnership with the United States, growing ties with Europe, and steadfast friendship with Japan. Diplomatic allies and like-minded nations spoke in support of Taiwan’s international participation and reaffirmed the global consensus on maintaining peace and stability across the Taiwan Strait. They lauded Taiwan as a force for good that safeguarded democratic values, provided humanitarian assistance, and made concrete contributions. 
     
    Meanwhile, Taiwan has continued to deploy soft power, pursue public diplomacy, and seek international support. It has integrated resources across ministries, agencies, and departments to bolster its overall diplomatic strength. Furthermore, it has sought to have other countries implement consular measures addressing visas and digital governance to afford greater convenience to Taiwan’s people while also promoting closer people-to-people exchanges with other nations. 
     
    MOFA has devoted a maximum effort to the planning and implementation of the Diplomatic Allies Prosperity Project to deepen substantive relations with allies and like-minded countries. MOFA has formulated eight flagship projects concerning the Five Trusted Industry Sectors, covering semiconductor supply chain resilience, reliable networks and digital governance, new energy and carbon credit cooperation, smart demonstration parks overseas, smart medicine and healthcare, smart agriculture, sovereign AI, and sustainable tourism. Taiwan has brought its industrial strengths to play while integrating the resources of all ministries and agencies. Through the export of smart solutions, Taiwan has stimulated the prosperous development of allies and bolstered democratic supply chains. This has consolidated diplomatic ties and is helping allies enjoy greater prosperity. 
     
    Taiwan is greeting a new world and the world is greeting a new Taiwan. Not only is this MOFA’s mission in its diplomatic work, it is also the stellar outcome of coordinated efforts by the Taiwanese people and related agencies. MOFA has helped to promote the Executive Yuan’s economic diplomacy task force and has a strategic team conducting research and administrative work for the task force. This task force facilitates the efficient integration of resources from across ministries, enabling every citizen to be a diplomat and every ministry to serve as a foreign ministry. 
     
    MOFA will continue to improve the efficiency and quality of its public-facing services so that they have a tangible and positive impact on people’s lives. It will work diligently for the dignity, rights, interests, continuity, and development of the nation and people. MOFA will utilize Taiwan’s strengths as it connects to the world and work steadily to promote technology diplomacy, human rights diplomacy, cultural diplomacy, urban diplomacy, parliamentary diplomacy, medical and public health diplomacy, environmental diplomacy, sports diplomacy, indigenous diplomacy, religious diplomacy, and gender equality diplomacy. MOFA will help the international community better understand the important role that Taiwan plays. It will live up to the expectations of all sectors as concerns diplomatic efforts.
     
    In 2025, the world will usher in a new chapter in geopolitics. With confidence, resilience, and a professional and flexible approach, MOFA will maintain its footing in the new environment. It will leverage Taiwan’s strengths; overcome challenges; and amplify the values of democracy, peace, and prosperity. By integrating diplomatic momentum from all sectors, MOFA will continue to contribute to the international community and realize President Lai’s policy of values-based diplomacy and vision of Taiwan as a thriving global economic powerhouse. MOFA will demonstrate that Taiwan can help and that Taiwan can lead so that Taiwan continues to serve as a beacon shining far and wide across the globe. (E)

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Foreign Minister Lin hosts welcome banquet for former Lithuanian Foreign Minister Landsbergis

    Source: Republic of China Taiwan

    Foreign Minister Lin hosts welcome banquet for former Lithuanian Foreign Minister Landsbergis

    Date：2025-01-14
    Data Source：Department of European Affairs

    January 14, 2025  
    No. 012  

    Minister of Foreign Affairs Lin Chia-lung on January 14 hosted a welcome luncheon for former Lithuanian Minister of Foreign Affairs Gabrielius Landsbergis and his wife. During the event, the two sides exchanged views on how democracies can counter authoritarian nations, furthering bilateral collaboration on drone development, and exploring other areas of cooperation. 
     
    Minister Lin thanked Mr. Landsbergis for his staunch support of Taiwan and for his proactive efforts to bolster bilateral relations between Taiwan and Lithuania during his tenure as foreign minister, adding that this was an excellent model of democratic solidarity. He stated that he had led 20 drone-related Taiwanese companies to the Drone Industry Business Forum in Lithuania last November, demonstrating Taiwan’s determination to build democratic supply chains together with Lithuania and substantively implementing integrated diplomacy. 
     
    Minister Lin also noted that authoritarian expansionism posed a significant challenge to the democratic community. Pointing to the recent incidents of underwater cable sabotage in the Baltic Sea and the waters around Taiwan, he underscored the urgent need for democracies to collaborate and adopt joint strategic responses and prevention measures.
     
    Mr. Landsbergis said that Taiwan and Lithuania had done their utmost to protect freedom and democracy since transitioning away from authoritarian rule in the 1980s. Observing that the two nations had long faced geopolitical security threats from authoritarian countries, he stressed that it was important for democratic partners to work in concert and that the peoples of Taiwan and Lithuania had forged a friendship based on mutual understanding and appreciation. With the two countries having achieved considerable success in various joint projects, he expressed the hope that bilateral cooperation would continue to deepen.
     
    During his tenure as foreign minister, Mr. Landsbergis arranged for Lithuania to donate COVID-19 vaccines to Taiwan, making it the first European country to do so. He further showed a firm commitment to safeguarding the values of democracy and freedom and backed the establishment of a Taiwanese representative office in Lithuania including the name Taiwan. A staunch friend of Taiwan, he spared no effort to strengthen relations between the two countries. During his visit, Mr. Landsbergis will deliver a speech at an event organized by the Prospect Foundation and will engage with Taiwanese students at National Taiwan University. (E)

    MIL OSI Asia Pacific News –

  • MIL-OSI: Crédit Agricole Assurances: Outstanding activity with record net inflows

    Source: GlobeNewswire (MIL-OSI)

    Press release                                                                             Paris, April 30, 2025

    Outstanding activity with record net inflows

    Q1 2025 KEY FIGURES:

    • Total premium income1at a record high of €14.8 billion, up +20.7%2
    • Record net inflows of +€4,0 billion, including +€1.9 billion on the General Account

    “In the first quarter of 2025, Crédit Agricole Assurances had continued dynamic activity across all business lines, both in France and abroad, and once again proved the usefulness and efficiency of our universal banking and insurance model. In particular, net inflows reached a record high of nearly €4 billion, including €1.9 billion on the General Account. These successes demonstrate the commitment of all our employees who work day after day to satisfy our customers and enable us to consolidate our leading positions in savings and property and casualty. In this year of our 40thanniversary, we will continue to build our new company project and will put conquest at the heart of the strategy with all our partner banks”.
    Nicolas Denis, Chief Executive Officer of Crédit Agricole Assurances

    DOUBLE-DIGIT ACTIVITY GROWTH, DRIVEN BY SAVINGS AND RETIREMENT BUSINESS

    In the first quarter of 2025, Crédit Agricole Assurances generated record total premium income1 of €14.8 billion, up +20.7%2 compared to the end of March 2024 driven by France (+23.5%) and international markets (+5.7%2). Life insurance business is particularly dynamic in France (+28.3%) thanks to the success of inflow collection by our partner banks.

    In savings and retirement, premium income1 reached €10.8 billion at the end of March 2025, up +26.8% year-on-year. The first three months of 2025 benefited from the full effect of the preferential profit sharing (PAB) offers on euro payments, launched at the end of the first quarter of 2024; these have boosted gross inflows3 on the General Account to €7.1 billion (+36.6%). Unit-Linked gross inflows3 totalled €3.7 billion, up +11.4% compared to the first quarter of 2024. As a result, the share of Unit-Linked within gross inflows3 fell to 34.3% (-4.7 points year on-year).

    Net inflows3 set quarterly record of nearly +€4.0 billion, up +€2.9 billion compared to the first quarter of 2024. By product, net inflows3 amounted to +€2.0 billion on unit-linked and +€1.9 billion on the General Account.

    Life insurance outstandings4 reached €352.4 billion at the end of March 2025 thanks to very strong net inflows and a positive market effect. They included €246.7 billion on the General Account (+1.4% over three months) and €105.7 billion on Unit-Linked (+1.5% over three months). Unit-Linked reserves represented 30.0% of total life insurance outstandings at the end of March 2025, stable compared to December 31, 2024.

    In property and casualty5, the business continued its momentum with gross written premiums1 up +8.0% compared to the end of March 2024, reaching €2.6 billion. Including CATU, a Polish non-life insurance subsidiary, the portfolio grew by +5.1% and exceeded 16.8 million contracts, representing a net contribution of 512,000 contracts over one year; in addition to the price increases induced by climate change and inflation of repair costs, the average premium benefited from changes in the product mix.

    Equipment rates within the Crédit Agricole Group’s banking networks kept growing year-on-year, at the Regional Banks (44.2%6, up +0,8 point), LCL (28.0%6, up +0.2 point) and CA Italia (20.3%7, up +1.0 points).

    In personal protection (death and disability / creditor / group insurance8), gross written premiums1 increased by +4.3% compared to the end of March 2024, to €1.4 billion. Group insurance recorded an excellent first quarter of 2025 (+23.8%) in connection with the entry into force of a significant group health contract. Creditor insurance (+1.8%) and individual death and disability (+2.7%) are resilient.

    A SOLID CONTRIBUTION TO CREDIT AGRICOLE S.A.’S PRE-TAX INCOME

    Crédit Agricole Assurances contribution to Crédit Agricole S.A.’s pre-tax income was €631 million, stable2 year on year, supported by savings and retirement business (linked to the increase of life insurance outstandings) and property and casualty insurance, offsetting a tightening of technical margins in creditor insurance combined with methodological effects.

    The combined ratio9 stood at 93.2%, an improvement by -0.6 point year-on-year thanks to contained claims.
    The net undiscounted combined ratio decreased by -0.4 point over one year to stand at 95.9%, with a broadly neutral effect of discount.

    The Contractual Service Margin10 amounted to €25.8 billion at the end of March 2025, up +2.2% since December 31, 2024, benefiting from a new business contribution which is higher than the release through P&L.

    RATINGS

    Rating agency Date of last decision Main operating subsidiaries Crédit Agricole Assurances Outlook Subordinated debt
    S&P Global Ratings October 3, 2024 A+ A Stable BBB+

    HIGHLIGHTS SINCE THE LAST PUBLICATION

    About Crédit Agricole Assurances
    Crédit Agricole Assurances, France’s leading insurer, is Crédit Agricole group’s subsidiary, which brings together all the insurance businesses of Crédit Agricole S.A. Crédit Agricole Assurances offers a range of products and services in savings, retirement, health, personal protection and property insurance. They are distributed by Crédit Agricole’s banks in France and in 9 countries worldwide, and are aimed at individual, professional, agricultural and business customers. At the end of 2024, Crédit Agricole Assurances had more than 6,700 employees. Its 2024 premium income (non-GAAP) amounted to 43.6 billion euros.
    www.ca-assurances.com

    Press contacts
    Géraldine Bailacq +33 (0)6 81 75 87 59
    Nicolas Leviaux +33 (0)6 19 60 48 53
    Julien Badé +33 (0)7 85 18 68 05
    service.presse@ca-assurances.fr    		 Investor relations contacts
    Yael Beer-Gabel +33 (0)1 57 72 66 84
    Gaël Hoyer +33 (0)1 57 72 62 22
    Sophie Santourian +33 (0)1 57 72 43 42
    Cécile Roy +33 (0)1 57 72 61 86
    relations.investisseurs@ca-assurances.fr

    1« Non-GAAP » revenues
    2Excluding the 1stconsolidation of CATU (Crédit Agricole Towaraystow Ubezpieczeń, property and casualty insurance subsidiary in Poland) on 30 June 2024 with retroactive effect from 1 January 2024, changes are: +20.7% for total premium income, +5.4% for international premium income and +0.1% for Crédit Agricole Assurances contribution to Crédit Agricole S.A.’s pre-tax income
    3In local GAAP
    4Savings, Retirement and Protection (funeral)
    5At constant scope: +7.7% growth in non-life gross written premiums, +2.9% increase in the portfolio, net addition of more than 467,000 policies; at March 31, 2025, CATU’s portfolio comprised nearly 348,000 policies, including net addition of more than 45,000 policies over one year
    6Percentage of Regional banks and LCL customers with at least one motor, home, health, legal, mobile/portable or personal accident insurance policy marketed by Pacifica, French Crédit Agricole Assurances’ non-life insurance subsidiary
    7Percentage of CA Italia network customers with at least one policy marketed by CA Assicurazioni, Italian Crédit Agricole Assurances’ non-life insurance subsidiary
    8Excluding savings and retirement
    9P&C combined ratio in France (Pacifica scope) including discounting and excluding undiscounting, net of reinsurance: (claims + operating expenses + commissions) to gross earned premiums
    10CSM or Contractual Service Margin: corresponds to the expected profits by the insurer on the insurance activity, over the duration of the contract, for profitable contracts, for Savings, Retirement, Death and Disability and Creditor products

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  • MIL-OSI: Subsea 7 S.A. Announces First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    Luxembourg – 30 April 2025 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, ISIN: LU0075646355, the Company) announced today results of Subsea7 Group (the Group, Subsea7) for the first quarter which ended 31 March 2025.

    Highlights 

    • First quarter Adjusted EBITDA of $236 million, up 46% on the prior year, equating to a margin of 15%
    • Strong operational and financial performance from both Subsea and Conventional and Renewables, with Adjusted EBITDA margins of 18% and 10% respectively
    • Guidance for full year 2025 reaffirmed
    • A high-quality backlog of $10.8 billion gives over 80% visibility on 2025 revenue guidance and supports the outlook for Adjusted EBITDA margin expansion to 18 to 20%
    • Balance sheet remains strong with net debt including lease liabilities of $632 million, equating to 0.5 times the Adjusted EBITDA generated in the last four quarters
        Three Months Ended
    For the period (in $ millions, except Adjusted EBITDA margin and per share data)     31 Mar 2025
    Unaudited    		 31 Mar 2024
    Unaudited
    Revenue     1,529 1,395
    Adjusted EBITDA(a)     236 162
    Adjusted EBITDA margin(a)     15% 12%
    Net operating income     77 20
    Net income     17 29
             
    Earnings per share – in $ per share        
    Basic     0.06 0.09
    Diluted(b)     0.06 0.09
             
    At (in $ millions)      

    31 Mar 2025
    Unaudited

    		  

     31 Dec 2024
    Unaudited
    Backlog(a)     10,819 11,175
    Book-to-bill ratio(a)     0.6x 1.2x
    Cash and cash equivalents     459 575
    Borrowings     (691) (722)
    Net debt excluding lease liabilities(a)     (232) (147)
    Net debt including lease liabilities(a)     (632) (602)

    (a) For explanations and reconciliations of Adjusted EBITDA, Adjusted EBITDA margin, Backlog, Book-to-bill ratio and Net debt refer to the ‘Alternative Performance Measures’ section of the Condensed Consolidated Financial Statements.

    (b) For the explanation and a reconciliation of diluted earnings per share refer to Note 7 ‘Earnings per share’ to the Condensed Consolidated Financial Statements.

    John Evans, Chief Executive Officer, said:

    Subsea7 had a good start to 2025 with solid financial performance underpinned by strong project execution, which offset a heavy vessel maintenance schedule. The Group reported 10% revenue growth year-on-year and Adjusted EBITDA margin expansion of 380bps, putting us on track to meet full year expectations. With backlog of $10.8 billion including $4.8 billion for execution in the remainder of the year, we have a high level of visibility for 2025.

    Although uncertainty in the global economy has increased in recent months, the outlook for long-term energy demand growth remains positive. Subsea7’s strategy to focus on long-duration developments in cost-advantaged sectors of the deepwater adds resilience to our subsea business, and our exposure to strategic gas developments, such as the Sakarya field in Türkiye, and new oil provinces such as Namibia, gives us further confidence. In offshore wind, we are positive about the opportunities presented by this year’s CFD allocation round in the UK, where it is expected that the volume of projects sanctioned will nearly double year-on-year. We are well-positioned in this market, with a strong track record and collaborative client relationships.  

    Overall, while volatility in commodity prices and global tariffs create headwinds for investor sentiment in the sector, the fundamentals of our industry remain robust and our focused strategy leaves the Group well-positioned to deliver strong growth in profitability and cash generation in 2025.

    First quarter project review
    During the first quarter, we undertook significant planned vessel maintenance. This maintenance ensures that our vessels are optimised ahead of a busy year. Nevertheless we made good progress on our subsea, conventional and renewables projects. In Africa, Seven Arctic was active installing flexibles and umbilicals at Agogo in Angola, where it was joined by Seven Borealis, after it completed Zuluf in Saudi Arabia. Seven Pacific was busy at the Raven field in Egypt before mobilising for early flexlay work at Sakarya in Türkiye. In the Americas, Seven Oceans undertook work on a range of projects including Sunspear, Salamanca and Shenandoah in the US, while Seven Seas worked mainly on Cypre in Trinidad and Tobago and Seven Vega continued rigid pipelay at Mero 3 in Brazil.   

    In Renewables, Seaway Strashnov and Seaway Alfa Lift underwent maintenance before preparing to restart work at Dogger Bank in the UK. We also took advantage of the winter off-season to install a monopile gripper on Seaway Ventus before starting the East Anglia THREE project in the UK, where we will install 95 monopiles. In Taiwan we were active on Hai Long.

    First quarter financial review
    Revenue was $1.5 billion an increase of 10% compared to the prior year period. Adjusted EBITDA of $236 million equated to a margin of 15%, up from 12% in Q1 2024. A strong operational performance in Subsea and Conventional, and high activity in Taiwan in Renewables helped offset seasonal weakness and vessel maintenance.

    Depreciation and amortisation charges were $160 million, resulting in net operating income of $77 million compared to $20 million in the prior year period. Net finance costs of $17 million and a net foreign exchange loss of $28 million, resulted in net income for the quarter of $17 million compared to $29 million in the prior year period.

    Net cash generated from operating activities in the first quarter was $51 million, including a $163 million adverse movement in net working capital. Net cash used in investing activities was $68 million mainly related to purchases of property, plant and equipment. Net cash used in financing activities was $106 million including lease payments of $59 million. Overall, cash and cash equivalents decreased by $116 million in the quarter to $459 million at 31 March 2025 and net debt was $632 million, including lease liabilities of $400 million.

    First quarter order intake was $0.9 billion comprising new awards of $0.4 billion and escalations of $0.5 billion resulting in a book-to-bill ratio of 0.6 times. Backlog at the end of March was $10.8 billion, of which $4.8 billion is expected to be executed in 2025, $3.5 billion in 2026 and $2.5 billion in 2027 and beyond.

    Guidance

    Our financial guidance for 2025 is unchanged. We continue to anticipate that revenue in 2025 will be between $6.8 billion and $7.2 billion, while the Adjusted EBITDA margin is expected to be within a range from 18% to 20%. Based on our firm backlog of contracts and the prospects in our tendering pipeline, we expect margins to exceed 20% in 2026.

    Conference Call Information
    Date: 30 April 2025
    Time: 12:00 UK Time, 13:00 CET
    Access the webcast at subsea7.com or https://edge.media-server.com/mmc/p/3v6564ut/
    Register for the conference call https://register-conf.media-server.com/register/BI419d51592b6f40e8823c7efe91ab9dab

    For further information, please contact:
    Katherine Tonks
    Head of Investor Relations
    Tel: +44-20-8210-5568
    Email: ir@subsea7.com

    Special Note Regarding Forward-Looking Statements

    This document may contain ‘forward-looking statements’ (within the meaning of the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995). These statements relate to our current expectations, beliefs, intentions, assumptions or strategies regarding the future and are subject to known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements may be identified by the use of words such as ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘future’, ‘goal’, ‘intend’, ‘likely’, ‘may’, ‘plan’, ‘project’, ‘seek’, ‘should’, ‘strategy’, ‘will’, and similar expressions. The principal risks which could affect future operations of the Group are described in the ‘Risk Management’ section of the Group’s Annual Report. Factors that may cause actual and future results and trends to differ materially from our forward-looking statements include (but are not limited to): (i) our ability to deliver fixed-price projects in accordance with client expectations and within the parameters of our bids, and to avoid cost overruns; (ii) our ability to collect receivables, negotiate variation orders and collect the related revenue; (iii) our ability to recover costs on significant projects; (iv) capital expenditure by oil and gas companies, which is affected by fluctuations in the price of, and demand for, crude oil and natural gas; (v) unanticipated delays or cancellation of projects included in our backlog; (vi) competition and price fluctuations in the markets and businesses in which we operate; (vii) the loss of, or deterioration in our relationship with, any significant clients; (viii) the outcome of legal proceedings or governmental inquiries; (ix) uncertainties inherent in operating internationally, including economic, political and social instability, boycotts or embargoes, labour unrest, changes in foreign governmental regulations, corruption and currency fluctuations; (x) the effects of a pandemic or epidemic or a natural disaster; (xi) liability to third parties for the failure of our joint venture partners to fulfil their obligations; (xii) changes in, or our failure to comply with, applicable laws and regulations (including regulatory measures addressing climate change); (xiii) operating hazards, including spills, environmental damage, personal or property damage and business interruptions caused by adverse weather; (xiv) equipment or mechanical failures, which could increase costs, impair revenue and result in penalties for failure to meet project completion requirements; (xv) the timely delivery of vessels on order and the timely completion of ship conversion programmes; (xvi) our ability to keep pace with technological changes and the impact of potential information technology, cyber security or data security breaches; (xvii) global availability at scale and commercial viability of suitable alternative vessel fuels; and, (xviii) the effectiveness of our disclosure controls and procedures and internal control over financial reporting. Many of these factors are beyond our ability to control or predict. Given these uncertainties, you should not place undue reliance on the forward-looking statements. Each forward-looking statement speaks only as of the date of this document. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 30 April 2025 08:00 CET.

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  • MIL-OSI: Quadient: 11% Increase in Software Sales to Mail Clients in 2024 Reflects Rising Demand for Smarter, Multichannel Communications

    Source: GlobeNewswire (MIL-OSI)

    Quadient (Euronext Paris: QDT), a global automation platform powering secure and sustainable business connections, shared today that businesses are increasingly turning to digital solutions to meet rising customer expectations for modern, multichannel communication. This shift is driving tangible growth: in fiscal year 2024, Quadient recorded a record 11% increase in cross-sales of its Digital automation solutions within its Mail customer base.

    This growth highlights a broader shift in customer engagement strategies, driven by evolving consumer expectations. Independent research commissioned by Quadient in fall 2024, which surveyed 6,000 consumers across the United States, United Kingdom, and France, revealed a clear demand for more modern, multichannel communication experiences. While physical mail remains relevant, a majority of respondents in each country want companies to communicate through multiple channels, including email, mail, text, mobile apps, and social media. This includes 73 percent in the USA, 66 percent in France, and 62 percent in the UK. The findings send a critical message to businesses: organizations that align their strategies with these changing preferences are better positioned to improve customer satisfaction, foster loyalty, and remain competitive in an increasingly digital marketplace.

    “We’re meeting our customers where they are and helping them go further,” said Alain Fairise, Chief Solution Officer, Mail Automation at Quadient. “This isn’t just about adopting new technology, it’s about enabling smarter, more agile ways to connect. Consumers are not only ready for smarter digital communications, they now expect it. To stay competitive, businesses need trusted partners who can guide them through digital transformation with confidence and minimal disruption. Our growth in Digital cross-sales reflects that trust. By combining intelligent automation with proven expertise in physical communications, we’re helping organizations reduce complexity, unlock growth opportunities, and build more resilient, future-ready customer relationships.”

    With more than 350,000 business customers worldwide, Quadient is helping organizations across industries modernize how they communicate. Through its intelligent automation platform, including Quadient Impress and Quadient Inspire, companies are leveraging both physical and digital channels to improve efficiency, consistency, and responsiveness. In 2024, Quadient recorded its highest level of Digital solution sales into its Mail customer base, while its Mail business continued to outperform the market. Looking ahead, Quadient will continue investing in intelligent hybrid communication solutions to support businesses in delivering meaningful, future-ready customer communications. To know more about Quadient’s smart mail solutions, go to https://mail.quadient.com/en/mailroom-software.

    About Quadient
    Quadient is a global automation platform powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing. For more information about Quadient, visit www.quadient.com.

    Contacts

    Joe Scolaro, Quadient            Sandy Armstrong, Sterling Kilgore
    Global Press Relations Manager   VP of Media & Communications
    +1 203-301-3673   +1-630-699-8979
    j.scolaro@quadient.com     sarmstrong@sterlingkilgore.com

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  • MIL-OSI: Annual Report 2024 published

    Source: GlobeNewswire (MIL-OSI)

    Malmö – ZetaDisplay AB (publ) announces that the Annual Report for 2024 (in Swedish), provided by the board of directors, is now published and available in electronic format on the Group’s Investor Relations website https://ir.zetadisplay.com/financial-reports. A shorter translated English version Yearbook is also available.

    Malmö, 30 April 2025

    This information is information that ZetaDisplay AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of Anders Olin, at 08:00 CET on 30 April 2025

    For further questions, please contact:

    Anders Olin, President & CEO
    Mobile: +46 076-101 14 88
    E-Mail: anders.olin@zetadisplay.com

    Claes Pedersen, CFO
    Mobile: +45 23-68 86 58
    E-Mail: claes.pedersen@zetadisplay.com

     

    ABOUT ZETADISPLAY
    More than 20 years of leadership and innovation in digital signage.
    ZetaDisplay was founded 2003 in Sweden as one of the early pioneers of digital signage. We are one of the leading European corporations in the digital signage market and a leading force in the European digital signage industry. Our proprietary software platform, digital business development and consulting services, innovative digital signage solutions, and creative concepts regularly inspire- influence and guide millions of people every day in retail environments, in restaurants, on advertising screens, in factories, on trains, on cruise ships, in stadiums, in workplaces and in all types of public spaces indoor and outdoor. ZetaDisplay is one of the largest leading European full service digital signage companies with direct operations in eight European countries and the US with +125,000 active installations in more than 50 countries globally. We are the digital signage business partner of choice for many of the worlds most respected blue-chip brands and companies.

    ZetaDisplay is based in Malmö-Sweden, has a turnover of SEK +630 million and employs approx. 240 co-workers. ZetaDisplay is owned by the investment company Hanover Investors. More information at www.ir.zetadisplay.com and www.hanoverinvestors.com.

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  • MIL-OSI: Interim Report – January-March 2025

    Source: GlobeNewswire (MIL-OSI)

    STOCKHOLM – 30 April 2025. Karolinska Development AB (Nasdaq Stockholm: KDEV) today publishes its Interim Report January-March 2025. The full report is available on the Company’s website.

    “Developmental intensity levels remain high in our portfolio companies, many of which have progressed their positions during the first quarter of the year”, says Viktor Drvota, CEO, Karolinska Development.

    Significant events during the first quarter

    • The portfolio company AnaCardio secured SEK 205 million in a series A extension financing round and reported positive results from the first part of a phase 1b/2a study of AC01 in patients with heart failure and reduced ejection fraction. The final part of the study (phase 2a) is expected to start during the first quarter of 2025 (January 2025).
    • The portfolio company Dilafor announced that it successfully completed regulatory meetings with the U.S. Food and Drug Administration, FDA, and European Health Agencies, regarding the continued development of the company’s drug candidate tafoxiparin. The completed meetings marked the end of a comprehensive dialogue with regulatory authorities in the US and EU to reach an alignment between the authorities on designing pivotal clinical Phase 3 studies in Europe and the US to evaluate tafoxiparin as a new potential treatment for priming of labor (January 2025).
    • The portfolio company Promimic published positive results showing a reduction of bacterial growth on the company’s implant surface HAnano Surface. The results are published in the Journal of Functional Biomaterials (February 2025).
    • The portfolio company AnaCardio dosed the first patient in the phase 2a part of the GOAL-HF1 clinical study. The study will evaluate AnaCardio’s drug candidate AC01 in patients with heart failure and reduced ejection fraction. Study results from GOAL-HF1 are expected by the end of the year (February 2025).
    • The portfolio company PharmNovo received positive feedback regarding its most advanced drug candidate, PN6047, in a pre-IND meeting with the U.S. Food and Drug Administration (FDA). The meeting aimed to provide guidance on the design of the company’s planned phase 2a clinical trial for the treatment of peripheral neuropathy and allodynia (March 2025).
    • The portfolio company AnaCardio was granted patent for its drug candidate AC01 in patients with heart failure and reduced ejection fraction in the EU (March 2025).
    • The portfolio company Umecrine Cognition provided an update regarding the ongoing clinical phase 1b/2a trial evaluating the drug candidate golexanolone in patients with Primary biliary cholangitis, PBC. Due to technical issues in the production of capsules used in the study, the clinical trial has been delayed. No patient safety concerns have been noted, and Umecrine Cognition is working intensively together with its supplier to resolve the issue (March 2025).

    Significant post-period events

    • The portfolio company Umecrine Cognition presented recent preclinical data showing that golexanolone reverses dopamine loss and sustains improvements of Parkinsonian symptoms at the 19th International Conference on Alzheimer’s and Parkinson’s Diseases (AD/PD) 2025, in Vienna, Austria (April 2025).
    • Karolinska Development announced that Viktor Drvota took over as CEO of the portfolio company Umecrine Cognition. Viktor Drvota remains the CEO of Karolinska Development (April 2025).

    Financial update first quarter

    • The net profit/loss for the first quarter was SEK -14.2 million (SEK 0.2 million in the first quarter of 2024). Earnings per share totaled SEK -0.05 (SEK 0.00 in the first quarter of 2024).
    • The result of the Change in fair value of shares in portfolio companies for the first quarter amounted to SEK -3.5 million (SEK 1.9 million in the first quarter of 2024). The result is mainly the effect of the downturn in share price in the listed holding Modus Therapeutics. The downturn was partly offset by an upturn in the share price in the listed holdings OssDsign and Promimic.
    • The total fair value of the portfolio was SEK 1,434.2 million at the end of March 2025, corresponding to a decrease of SEK 17.3 million from SEK 1,451.5 million at the end of the previous quarter. The net portfolio fair value at the end of March 2025 was SEK 1,103.1 million, corresponding to a decrease of SEK 17.7 million from SEK 1,120.8 million at the end of the previous quarter. The main reason for the net decrease in fair value was the partial divestment of OssDsign and the divestment of Karolinska Development’s shares in Promimic and also the downturn in the share price of the listed holding Modus Therapeutics. The decrease was partially offset by the increase in the price of the listed holdings OssDsign and Promimic. The quarter’s investments also contributed to the increase in fair value.
    • Net asset value amounted to SEK 1,230.4 million, per share SEK 4.6, at the end of March 2025 (SEK 1,254.3 million, per share SEK 4.6 at the end of March 2024).
    • Net sales totaled SEK 0.5 million during the first quarter of 2025 (SEK 0.5 million during the first quarter of 2024).
    • Karolinska Development invested a total of SEK 15.5 million in portfolio companies during the first quarter of 2025 (SEK 12.0 million in the first quarter of 2024). First quarter 2025 investments in portfolio companies by Karolinska Development and other specialized life sciences investors totaled SEK 25.6 million (SEK 242.8 million in the first quarter of 2024).
    • Cash and cash equivalents increased by SEK 9.0 million during the first quarter, totaling SEK 51.1 million on 31 March 2025 (SEK 67.5 million on 31 March 2024).

    The Interim Report for Karolinska Development AB for the period January-March 2025 is available as a PDF at www.karolinskadevelopment.com.

    For further information, please contact:

    Viktor Drvota, CEO, Karolinska Development AB
    Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com

    Hans Christopher “HC” Toll, CFO, Karolinska Development AB        
    Phone: +46 70 717 00 41, e-mail: hc.toll@karolinskadevelopment.com

    TO THE EDITORS

    About Karolinska Development AB

    Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying breakthrough medical innovations in the Nordic region that are developed by entrepreneurs and leadership teams. The Company invests in the creation and growth of companies that advance these assets into commercial products that are designed to make a difference to patients’ lives while providing an attractive return on investment to shareholders.

    Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The Company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success.

    Karolinska Development has established a portfolio of eleven companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.

    The Company is led by an entrepreneurial team of investment professionals with a proven track record as company builders and with access to a strong global network.

    For more information, please visit www.karolinskadevelopment.com

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  • MIL-OSI: CREDIT AGRICOLE S.A. ANNOUNCES FULL REDEMPTION OF the outstanding principal amount of its GBP Undated Deeply Subordinated Additional Tier 1 Fixed Rate Resettable Notes issued on April 8, 2014 (ISIN: XS1055037920)

    Source: GlobeNewswire (MIL-OSI)

                                                Montrouge, 30 April 2025

    CREDIT AGRICOLE S.A. ANNOUNCES FULL REDEMPTION OF
    the outstanding principal amount of its
    GBP Undated Deeply Subordinated Additional Tier 1
    Fixed Rate Resettable Notes issued on April 8, 2014
    (ISIN: XS1055037920)*

    Crédit Agricole S.A. (the “Issuer”) announces today the full redemption (the “Redemption”) with effect on June 30, 2025 (the “Redemption Date”) of the outstanding principal amount of its GBP Undated Deeply Subordinated Additional Tier 1 Fixed Rate Resettable Notes (the “Notes”) which amount as of today to GBP103,316,000 (ISIN: XS1055037920).

    The Notes were issued on April 8, 2014 with a principal amount of GBP500,000,000 on the basis of the terms and conditions (the “Terms and Conditions”) included in the prospectus dated April 2, 2014 which was granted the visa n° 14-123 by the Autorité des marchés financiers on April 2, 2014 (the “Prospectus”). The Notes are governed by English law, which, following the United Kingdom’s withdrawal from the European Union, has become a third country law. The Terms and Conditions do not include a contractual recognition of bail-in clause and, as a result, the Notes will cease to qualify as Additional Tier 1 capital on June 28, 2025, upon expiry of the grandfathering applicable to the Notes in accordance with Article 494b(1) of the Regulation (EU) No 575/2013 of the European Parliament and of the Council of June 26, 2013 on prudential requirements for credit institutions and investment firms (as amended) (the “CRR Regulation”).

    On May 20, 2021, the Issuer launched an exchange offer inviting the eligible holders of the Notes to exchange their Notes for an equivalent principal amount of its new Undated Deeply Subordinated Additional Tier 1 Fixed Rate Resettable GBP Notes (the “New Notes”) (the “Exchange Offer”). The Exchange Offer was intended to offer eligible holders of the Notes the opportunity to receive New Notes for which the economic terms were substantially similar to those of the Notes, with the exception of, in addition to certain technical modifications aimed at aligning the Terms and Conditions with market practice (i) the replacement of the LIBOR linked mid-swap rate by a SONIA linked mid-swap rate in the context of the discontinuation of the LIBOR rate used for securities denominated in pounds sterling, and (ii) modifications aimed at enabling the New Notes to qualify as Additional Tier 1 capital under banking regulations in force at that date, notably through the introduction of a contractual bail-in recognition clause. As a result of the Exchange Offer, the Notes were exchanged up to an aggregate principal amount of GBP 396,684,000 against New Notes.

    The Notes that were not exchanged in the context of the Exchange Offer and that are still outstanding as of today,  i.e a principal amount of GBP103,316,000, will cease to qualify as Additional Tier 1 capital on June 28, 2025, upon expiry of the grandfathering applicable to the Notes in accordance with article 494(b)(1) of the CRR Regulation. Therefore a Capital Event will occur on June 28, 2025 enabling the Issuer, pursuant to Condition 7.3 (Redemption Upon the Occurrence of a Capital Event) of the Terms and Conditions, to redeem the outstanding principal amount of such Notes (i.e. GBP103,316,000).

    In accordance with Condition 7.3 (Redemption Upon the Occurrence of a Capital Event) of the Terms and Conditions, the Notes will be redeemed at their par value, together with any accrued interest thereon (the “Redemption Amount”) and such Redemption Amount shall become due and payable on the Redemption Date. As of such date, in accordance with Condition 5.2 (Accrual of Interest) of the Terms and Conditions, each Note shall cease to bear interest unless the Redemption Amount is improperly withheld or refused.

    The holders of the Notes will receive formal notice of the Redemption in accordance with the Terms and Conditions.

    The Issuer has requested and obtained the prior permission of the European Central bank to redeem the Notes early.

    For further information on Crédit Agricole S.A., please see Crédit Agricole S.A.’s website: https://www.credit-agricole.com/en/finance.   

    DISCLAIMER

    This press release does not constitute an offer to buy or the solicitation of an offer to sell the Notes in the United States of America, Canada, Australia or Japan or in any other jurisdiction. The distribution of this press release in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required to inform themselves about, and to observe, any such restrictions.

    No communication or information relating to the redemption of the Notes may be distributed to the public in a country where a registration obligation or an approval is required. No action has been or will be taken in any country where such action would be required. The redemption of the Notes may be subject to specific legal and regulatory restrictions in certain jurisdictions; Crédit Agricole S.A. accepts no liability in connection with a breach by any person of such restrictions.

    This press release is an advertisement; and none of this press release, any notice or any other document or material made public and/or delivered, or which may be made public and/or delivered to the holders of the Notes in connection with the redemption of the Notes is or is intended to be a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council dated 14 June 2017 (as amended, the “Prospectus Regulation”). No prospectus will be published in connection with the redemption of the Notes for the purposes of the Prospectus Regulation.

    This press release does not, and shall not, in any circumstances, constitute an offer to the public of Notes by Crédit Agricole S.A. nor an invitation to the public in connection with any offer in any jurisdiction, including France.

    * The ISIN number is included solely for the convenience of the holders of the Notes. No representation is being made as to the correctness or accuracy of the ISIN number as contained herein.

    CRÉDIT AGRICOLE S.A. PRESS CONTACT

    Alexandre Barat                             + 33 1 57 72 12 19                                      alexandre.barat@credit-agricole-sa.fr
    Olivier Tassain                               + 33 1 43 23 25 41                                      olivier.tassain@credit-agricole-sa.fr

    Find our press release on: www.credit-agricole.com – www.creditagricole.info

      Crédit_Agricole   Groupe Crédit Agricole   créditagricole_sa

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  • MIL-OSI: High Arctic Overseas Announces 2024 Fourth Quarter Results

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW

    CALGARY, Alberta, April 30, 2025 (GLOBE NEWSWIRE) — High Arctic ‎Overseas Holdings Corp. (TSXV: HOH) (“High Arctic Overseas” or the “Corporation”) has released its financial and operating results for the quarter and year ended December 31, 2024. The Corporation’s audited consolidated financial statements (the “Financial Statements”) and management’s discussion & analysis (“MD&A”) for the three months and year ended December 31, 2024, will be available on SEDAR+ at www.sedarplus.ca. All amounts are denominated in United States dollars (“USD”), unless otherwise indicated.

    The common shares of the Corporation began trading on the TSXV on August 16, 2024 under the trading symbol HOH.

    Mike Maguire, Chief Executive Officer commented on the Corporation’s fourth quarter 2024 financial and operating results:

    “We have finished the spin-out transaction and have established High Arctic Overseas Holdings Corp. with dedicated Management and have trimmed our recurring G&A on a go forward basis. We have maintained the Corporation’s cash balance thanks to solid contribution from our manpower services & equipment rentals.

    The Corporation is now well placed to participate meaningfully in anticipated future drilling activity, with a resilient core business. Our experience combined with ideal drilling equipment for the challenging PNG environment positions us well.

    We are heartened by announced LNG developments including key environmental approvals for Papua LNG and positive public statements by the PNG Prime Minister following meetings with senior executives from the major project participants in January.

    I remain excited about our prospects to play a strategic role servicing the major projects anticipated in PNG over the second half of the decade.”

    HIGHLIGHTS

    • Adjusted EBITDA for the Quarter and full year of ($482) and $4,290 as a result of low drilling activity and costs associated with the close out of the spin-out.
    • Significant adjustments to inventory carrying value as a result of confirmation of the terms of contracts which resulted in a one-time positive non-cash impact to earnings of $3.4 million;
    • Post the spin-out we have established independent management team and expect to see General and Administrative costs normalise moving forward; and
    • Exited the quarter with a strong liquidity position with a working capital balance of $20.6 million which includes a cash balance of $14.9 million and no debt.

    2024 FOURTH QUARTER RESULTS

    • Drilling rig 103 remained suspended and drilling rigs 115 and 116 remained cold-stacked. Manpower services and rental services continued with other customers. Operating margins decreased from 32.2% in Q4 2023 to 28.6% in Q4 2024. The net result was a substantial reduction to revenue and the generation of a significantly lower EBITDA in the quarter:
      • Revenue for the quarter of $2,421, a decrease of $10,112 or 81% compared to Q4 2023 at $12,533, and
      • Adjusted negative EBITDA of $482, decrease of $3,418 or 116% compared to Q4 2023 at $2,936.
    • The reduced revenue generating activities in Q4 2024 were offset by the significant adjustments to inventory and reported obligations that were the result of renegotiated terms of contracts related to spares inventory, this resulted in:
      • Net income of $1,806 in Q4 2024 compared to net income of $1,907 realized in Q4 2023.

    2024 YEAR TO DATE RESULTS

    • Drilling Rig 103 operated through into Q2 2024 when drilling was suspended at which point it was cold stacked. Manpower services and rentals with other customers continued at similar run rates through the remainder of 2024. Operating margins improved from 2023 of 33.2% to 37.7% in 2024 as a result of reduced material and supply costs and higher proportional contribution from higher margin rentals.
      • Revenue for 2024 was $24,075, a reduction of $19,305 or 45% compared to 2023,
      • Adjusted EBITDA for 2024 was $4,290, a 60% reduction compared to 2023 as a result of general and administrative costs not reducing proportionally to revenue, and
      • General and administrative costs were impacted by additional expenses related to the Arrangement.
    • The reduced operating activities combined with the Q4 2024 significant adjustments to inventory and reported obligations drove the following results for the Corporation:
      • Net income of $2,857 for 2024 compared to a net loss of $8,623 for the same period 2023 which included an impairment charge of $15,200.
    • Improved liquidity with a working capital balance of $20.6 million, which includes a cash balance of $14.9 million.

    Since the Corporation and HAES-Cyprus were both wholly-owned by HWO, the transfer of all of the outstanding ordinary shares of HAES-Cyprus to the Corporation was deemed a common control transaction. The Corporation’s Financial Statements are presented under the continuity of interests basis. Financial and operational results contained within this Press Release present the historic financial position, results of operations and cash flows of HAES-Cyprus for all prior periods up to August 12, 2024, under HWO’s control. The financial position, results of operations and cash flows from April 1, 2024 (the date of incorporation of the Corporation) to August 12, 2024, include both HAES-Cyprus and the Corporation on a combined basis and from August 12, 2024, forward include the results of the Corporation on a consolidated basis upon completion of the Arrangement.

    For reporting purposes in the Financial Statements, the MD&A and this Press Release, it is assumed that the Corporation held the PNG business prior to August 12, 2024, and as such, information provided includes the financial and operating results for the three and twelve months ended December 31, 2024, including all comparative periods.

    In the above results discussion, the three months ended December 31, 2024 may be referred to as the “quarter” or “Q4 2024” and the comparative three months ended December 31, 2023 may be referred to as “Q4 2023”. References to other quarters may be presented as “QX 20XX” with X/XX being the quarter/year to which the commentary relates. Additionally, the twelve months ended December 31, 2024 may be referred to as “YTD” or “YTD 2024”. References to other twelve-month periods ended December 31 may be presented as “YTD 20XX” with XX being the year to which the twelve-month period ended December 31 commentary relates.

    FOURTH QUARTER 2024 SELECT FINANCIAL AND OPERATIONAL RESULTS OVERVIEW

       Three months ended Dec 31,   Year ended Dec 31,  
    (thousands of USD except per share amounts) 2024   2023   2024   2023  
    Operating results        
    Revenue 2,421   12,533   24,075   43,380  
    Net income (loss) 1,806   1,907   2,857   (8,623 )
    Per share (basic and diluted) (1) $0.14 $0.16 $0.23   ($0.69 )
    Operating margin (2) 693   4,037   9,069   14,416  
    Operating margin as a % of revenue (2) 28.6%   32.2%   37.7%   33.2%  
    EBITDA (2) 2,887   2,975   7,733   11,211  
    Adjusted EBITDA (2) (482)   2,936   4,290   10,797  
    Adjusted EBITDA as a % of revenue (2) (19.9%)   23.4%   17.8%   24.9%  
    Operating income (loss) (2) (1,264)   2,240   455   4,575  
    Per share (basic and diluted) (1) ($0.10 $0.18 $0.04   $0.37  
    Cash flow from operations:        
    Cash flow from operating activities 248   6,131   10,112   8,906  
    Per share (basic & diluted) (1) $0.02 $0.49 $0.81   $0.71  
    Funds flow from operating activities (2) 2,667   2,929   6,770   10,273  
    Per share (basic & diluted) (1) $0.21 $0.24 $0.54   $0.83  
    Capital expenditures 62   93   652   1,080  
         
    (thousands of USD)       As at Dec 31, 2024   As at Dec 31, 2023  
    Financial position:        
    Working capital (2)       20,602   20,335  
    Cash and cash equivalents       14,930   10,958  
    Total assets       35,287   43,374  
    Shareholder’s equity       30,953   33,112  
    Per share (basic) (1)     $2.48   $2.66  
    Per share (fully diluted) (1)     $2.47   $2.66  
    Weighted average common shares outstanding (000’s) (1)       12,448   12,448  
    Weighted average diluted shares outstanding (000’s) (1)       12,539   12,448  

    (1) For the purposes of computing per share amounts, the number of common shares outstanding for the periods prior to the Arrangement is deemed to be the number of shares issued by the Corporation to the shareholders of HWO upon completion of the Arrangement. For the period after the Arrangement, the number of shares outstanding in the computation of per share amounts is the total issued shares of the Corporation on August 12, 2024, and any common shares issued subsequent to August 12, 2024. See the “Overview” section of this MD&A and the Corporation’s Financial Statements as at and for the years ended December 31, 2024 and 2023 for additional details.
    (2) Operating margin, EBITDA (Earnings before interest, tax, depreciation, and amortization), Adjusted EBITDA, Operating income (loss), Funds flow from operating activities and Working capital do not have a standardized meanings prescribed by IFRS. See “Non IFRS Measures” in this MD&A for calculations of these measures.

    Operating Results

      Three months ended Dec 31,   Year ended Dec 31,  
    (thousands of USD, unless otherwise noted) 2024   2023   2024   2023  
    Revenue 2,421   12,533   24,075   43,380  
    Operating expense (1,728)   (8,496)   (15,006)   (28,964)  
    Operating margin(1) 693   4,037   9,069   14,416  
    Operating margin (%) 28.6%   32.2%   37.7%   33.2%  

     (1)   See “Non-IFRS Measures”

    Revenues totaled $2,421 and $24,075 for the three months and year ended December 31, 2024, respectively, compared to $12,533 and $43,880 for the comparative periods in 2023. Revenues for the year ended 2024 and Q4 2024, as compared to the prior year comparative periods, were negatively impacted as a result of reduced overall utilization of Rig 103. Customer-owned Rig 103 was utilized for 8 months during 2023 versus the first 5.5 months in 2024. Despite reduced drilling activity in 2024 compared to 2023, the Corporation was able to maintain a consistent level of activity related to the provision of skilled personnel for key customers in PNG. Operating margin as a percentage of revenues increased from 2023 to 2024, largely as a result of reduced material and supply costs associated with the recommencement of Rig 103 during fiscal 2023 and a higher proportional contribution by higher margin rentals in 2024.

    The Corporation owns two heli-portable drilling rigs (Rigs 115 and 116) which remain preserved and maintained ready for deployment.

      Three months ended Dec 31,   Year ended Dec 31,  
    (thousands of USD except per share amounts) 2024   2023   2024   2023  
    Operating results        
    Revenue 2,421   12,533   24,075   43,380  
    Net income (loss) 1,806   1,907   2,857   (8,623)  
    Per share (basic and diluted) (1) $0.14 $0.16 $0.23 ($0.69)  
    Operating margin (2) 693   4,037   9,069   14,416  
    Operating margin as a % of revenue (2) 28.6%   32.2%   37.7%   33.2%  
    EBITDA (2) 2,887   2,975   7,733   11,211  
    Adjusted EBITDA (2) (482)   2,936   4,290   10,797  
    Adjusted EBITDA as a % of revenue (2) (19.9%)   23.4%   17.8%   24.9%  
    Operating income (loss) (2) (1,264)   2,240   455   4,575  
    Per share (basic and diluted) (1) ($0.10 $0.18 $0.04 $0.37  
    Cash flow from operations:        
    Cash flow from operating activities 248   6,131   10,112   8,906  
    Per share (basic & diluted) (1) $0.02 $0.49 $0.81 $0.71  
    Funds flow from operating activities (2) 2,667   2,929   6,770   10,273  
    Per share (basic & diluted) (1) $0.21 $0.24 $0.54 $0.83  
    Capital expenditures 62   93   652   1,080  
         
    (thousands of USD)       As at Dec 31, 2024   As at Dec 31, 2023  
    Financial position:        
    Working capital (2)       20,602   20,335  
    Cash and cash equivalents       14,930   10,958  
    Total assets       35,287   43,374  
    Shareholder’s equity       30,953   33,112  
    Per share (basic) (1)     $2.48 $2.66  
    Per share (fully diluted) (1)     $2.47 $2.66  
    Weighted average common shares outstanding (000’s) (1)       12,448   12,448  
    Weighted average diluted shares outstanding (000’s) (1)       12,539   12,448  

    (1) For the purposes of computing per share amounts, the number of common shares outstanding for the periods prior to the Arrangement is deemed to be the number of shares issued by the Corporation to the shareholders of HWO upon completion of the Arrangement. For the period after the Arrangement, the number of shares outstanding in the computation of per share amounts is the total issued shares of the Corporation on August 12, 2024, and any common shares issued subsequent to August 12, 2024. See the “Overview” section of this Press Release and the Corporation’s Financial Statements as at and for the years ended December 31, 2024 and 2023 for additional details.
    (2) Operating margin, EBITDA (Earnings before interest, tax, depreciation, and amortization), Adjusted EBITDA, Operating income (loss), Funds flow from operating activities and Working capital do not have a standardized meanings prescribed by IFRS. See “Non IFRS Measures” in this Press Release for calculations of these measures.

    Operating Results

      Three months ended Dec 31,   Year ended Dec 31,  
    (thousands of USD, unless otherwise noted) 2024   2023   2024   2023  
    Revenue 2,421   12,533   24,075   43,380  
    Operating expense (1,728)   (8,496)   (15,006)   (28,964)  
    Operating margin(1) 693   4,037   9,069   14,416  
    Operating margin (%) 28.6%   32.2%   37.7%   33.2%  

     (1)   See “Non-IFRS Measures”

    Revenues totaled $2,421 and $24,075 for the three months and year ended December 31, 2024, respectively, compared to $12,533 and $43,880 for the comparative periods in 2023. Revenues for the year ended 2024 and Q4 2024, as compared to the prior year comparative periods, were negatively impacted as a result of reduced overall utilization of Rig 103. Customer-owned Rig 103 was utilized for 8 months during 2023 versus the first 5.5 months in 2024. Despite reduced drilling activity in 2024 compared to 2023, the Corporation was able to maintain a consistent level of activity related to the provision of skilled personnel for key customers in PNG. Operating margin as a percentage of revenues increased from 2023 to 2024, largely as a result of reduced material and supply costs associated with the recommencement of Rig 103 during fiscal 2023 and a higher proportional contribution by higher margin rentals in 2024.

    The Corporation owns two heli-portable drilling rigs (Rigs 115 and 116) which remain preserved and maintained ready for deployment.

    Liquidity and Capital Resources

      Three months ended Dec 31,   Year ended Dec 31,  
    (thousands of USD) 2024   2023   2024   2023  
    Cash provided by (used in) operations:        
    Operating activities 248   6,131   10,112   8,906  
    Investing activities (62)   (93)   (652)   (1,080)  
    Financing activities (113)   (179)   (5,487)   (714)  
    Effect of exchange rate changes (1)   –   (1)   –  
    Increase (decrease) in cash 72   5,859   3,972   7,112  

    (thousands of USD, unless otherwise noted)  

    		 As at
    Dec 31, 2024    		   As at
    Dec 31, 2023    		  
    Current assets   24,706   30,090  
    Working capital(1)   20,602   20,335  
    Working capital ratio(1)   6.0:1   3.1:1  
    Cash and cash equivalents   14,930   10,958  

     (1)   See “Non-IFRS Measures”

    Liquidity and Capital Resources
    Cashflows from Operating Activities
    For the three months and year ended December 31, 2024, cash generated from operating activities was $248 (Q4 2023 $6,131) and $10,112 (YTD-2023 $8,906), respectively. The change in operating cash flow was largely driven by changes in working capital related to the timing of drilling activity in the respective years with a cash drawdown in 2023 as operations ramped up and a cash harvesting in 2024 as operations were ceased.

    Cashflows from Investing Activities
    For the three months and year ended December 31, 2024, the Corporation’s cash used in investing activities was $62 (Q4 2023 $93) and $652 (YTD-2023 $1,080), respectively. Cash outflows associated with investing activities were directed towards capital expenditures on rental assets. The reduction in capital expenditures in 2024 is due to reduced customer activity. The Corporation will continue to seek opportunities to invest in additional capital assets, in particular where it can do so under take-or-pay agreements.

    Cash flows from Financing Activities
    For the three months and year ended December 31, 2024, the Corporation’s cash used in financing activities was $113 (Q4 2023 $179) and $5,487 (YTD-2023 $714) respectively. Excluding the impact of a $5,000 dividend paid by HAES-Cyprus to HWO prior to the completion of the Arrangement transaction, cash outflows associated with finance activities were directed towards lease obligation payments.

    Outlook
    Consistent with the outlook provided by the Corporation in the third quarter of 2024, the outlook for the Corporation’s core business in PNG for 2025 remains subdued. The Corporation’s 2024 fourth quarter and annual results were impacted by the completion of customer drilling activity during the second quarter of 2024, with Rig 103 being relocated to the customer’s forward base location and cold-stacked. With no near-term drilling activity currently anticipated, the Corporation expects equipment rental and manpower to be the primary revenue generating activity for 2025. Quarterly revenues for 2025 are anticipated to be consistent with third and fourth quarters of 2024.

    The Corporation remains engaged with its principal customer on planning for future drilling activity and continues to focus on enhancing and optimizing its existing rental fleet deployment and manpower solutions offerings.

    The Corporation also continues to pursue business expansion opportunities in PNG, actively engaging with potential customers for its services in PNG and the wider region while also taking actions to protect its capability to realize the future potential of the business.

    Our rationale for a business strategy focussed on PNG is unchanged. Papua New Guinea possesses substantial deposits of natural resources including significant reserves of oil and natural gas and has emerged as a reliable low-cost energy exporter to Asian markets, particularly for liquefied natural gas (“LNG”). A significant investment in the country’s oil and gas industry was evidenced by the successful construction of the PNG-LNG project in 2014, with the primary partners in the venture being customers of the Corporation. In the period following, the Corporation’s predecessor company committed to the purchase and upgrade of drilling rigs 115 and 116 and expansion of the Corporation’s fleet of rentable equipment including camps, material handling equipment and worksite matting. These investments contributed to a substantive lift in revenues and earnings as PNG enjoyed its highest period of exploration and development activity.

    Since the onset of COVID-19 in early 2020, there has been a substantive reduction in drilling services in PNG. This follows some consolidation among the active exploration and production companies and evolving political and economic influences. In the longer term, High Arctic believes PNG is on the precipice of a new round of large-scale projects in the natural resources sector. ‎The next significant ‎LNG project currently being planned is Papua-LNG a project lead by the French oil and gas super-major TotalEnergies, with a final investment decision anticipated in late 2025. There is an expectation for increased drilling activity through the latter half of this decade, ‎not only to develop wells for the supply of gas to the Papua-LNG export facility, but also to explore for and ‎appraise other discoveries. The signing of a fiscal stability agreement between the P’nyang gas field joint venture and the government of PNG is another positive signal for that expansionary project to follow Papua-LNG.

    The Corporation is strategically positioned to support these developments, given its dominant position for drilling and associated services in PNG, existing work relationships with the operating companies, and proximity to the proposed sites of operation. The Corporation’s drilling rigs 115 and 116 are portable by helicopter and have been maintained and preserved for future use.

    There are a number of other petroleum projects and substantive nation-building projects including infrastructure, ‎electrification, telecommunications and defence projects planned for the development of PNG. ‎These ‎projects will require access to transport and material handling machinery, quality worksite and temporary ‎road mats and a substantive amount of labour including skilled equipment operators, qualified tradespeople and engineers, ‎geoscientists and other professionals. ‎High Arctic’s business continues to position itself to be a meaningful supplier of services, equipment and manpower for this market.

    NON-IFRS MEASURES
    This Press Release contains references to certain financial measures that do not have a standardized meaning prescribed by International Financial Reporting Standards (“IFRS”) and may not be comparable to the same or similar measures used by other companies. High Arctic Overseas uses these financial measures to assess performance and believes these measures provide useful supplemental information to shareholders and investors. These financial measures are computed on a consistent basis for each reporting period and include Oilfield services operating margin, EBITDA (Earnings before interest, tax, depreciation and amortization), Adjusted EBITDA, Operating loss, Funds flow from operating activities, Working capital and Net cash. These do not have standardized meanings.

    These financial measures should not be considered as an alternative to, or more meaningful than, net income (loss), cash from operating activities, current assets or current liabilities, cash and/or other measures of financial performance as determined in accordance with IFRS.

    For additional information regarding non-IFRS measures, including their use to management and investors and reconciliations to measures recognized by IFRS, please refer to the Corporation’s Q3 2024 MD&A, which is available online at www.sedarplus.ca.

    About High Arctic ‎Overseas Holdings Corp.

    High Arctic Overseas is a market leader in Papua New Guinea providing drilling ‎and specialized well completion services, manpower solutions and supplies rental equipment including rig matting, camps, material ‎handling and drilling support equipment.

    For further information, please contact:

    Mike Maguire                                                
    Chief Executive Officer                                 
    1.587.320.1301                                        
                            
    High Arctic Overseas Holdings Corp.                        
    Suite 2350, 330–5th Avenue SW                        
    Calgary, Alberta, Canada T2P 0L4                                                           
    www.higharctic.com
    Email: info@higharctic.com                         

    Forward-Looking Statements

    This Press Release contains forward-looking statements. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “seek”, “propose”, “estimate”, “expect”, and similar expressions are intended to identify forward-looking statements. Such statements reflect the Corporation’s current views with respect to future events and are subject to certain risks, uncertainties, and assumptions. Many factors could cause the Corporation’s actual results, performance, or achievements to vary from those described in this Press Release.

    Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this Press Release as intended, planned, anticipated, believed, estimated or expected. Specific forward-looking statements in this Press Release include, among others, statements pertaining to the following: future energy projects including drilling activity and LNG projects in PNG; the Corporation’s ability to participate in the energy industry in PNG; potential future contracts with existing or new customers of the Corporation; future infrastructure and defence projects in PNG and the ability of the Corporation to participate in same; the Corporation’s expectations related to financial and operational results in 2025, including the expectation that the equipment rental and manpower services portion of the Corporation’s business will be the primary revenue generating activity for fiscal 2025; the timing and ability of the Corporation to put its own administrative infrastructure in place; the ability of the Corporation to expand its geographic customer base outside of PNG; and the deploying idle heli-portable drilling rigs 115 and 116 and securing future work with other exploration companies in PNG.

    With respect to forward-looking statements contained in this Press Release, the Corporation has made assumptions regarding, among other things: general economic and business conditions; the role of the energy services industry in future phases of the energy industry; the outlook for energy services both globally and within PNG; the impact of conflict in the Middle East and Ukraine; the timing and impact on the Corporation’s business related to potential new large-scale natural resources projects and increased drilling activity in PNG; the impact, if any, related to existing or future changes to government regulations by the government of PNG; the impact, if any, on the Corporation’s future financial and operational results related to non-resource development opportunities in PNG; market fluctuations in commodity prices, and foreign currency exchange rates; restrictions on repatriation of funds held in PNG; expectations regarding the Corporation’s ability to manage its liquidity risk, raise capital and manage its debt finance agreements; projections of market prices and costs; factors upon which the Corporation will decide whether or not to undertake a specific course of operational action or expansion; the Corporation’s ongoing relationship with its major customers; customers’ drilling intentions; the Corporation’s ability to position itself to be a significant supplier of services, equipment and manpower for other resource and non-resources based projects in PNG; the Corporation’s ability to invest in additional capital assets, including the impact on the Corporation’s future financial and operational results; the impact, if any, of geo-political events, changes in government, changes to tariff’s or related trade policies and the potential impact on the Corporation’s ability to execute on its 2025 business plan and strategic objectives; the Corporation’s ability to: maintain its ongoing relationship with major customers; successfully market its services to current and new customers; devise methods for, and achieve its primary objectives; source and obtain equipment from suppliers; successfully manage, operate, and thrive in an environment which is facing much uncertainty; remain competitive in all its operations; attract and retain skilled employees; and obtain equity and debt financing on satisfactory terms and manage liquidity related risks. While the Corporation considers these assumptions to be reasonable, the assumptions are inherently subject to significant uncertainties and contingencies.

    A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation’s disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although the Corporation has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Although the Corporation has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information.

    The forward-looking statements contained in this Press Release are expressly qualified in their entirety by this cautionary statement. These statements are given only as of the date of this Press Release. The Corporation does not assume any obligation to update these forward-looking statements to reflect new information, subsequent events or otherwise, except as required by law.

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

    The MIL Network –

  • MIL-OSI: Resolutions of the shareholders’ meeting of Invalda INVL held on 30/04/2025

    Source: GlobeNewswire (MIL-OSI)

    The resolutions of the General Shareholders Meeting of the public joint stock company Invalda INVL held on 30 April 2025:

    1. Presentation of the public joint stock company Invalda INVL consolidated annual management report for 2024.
    Shareholders of the public joint stock company Invalda INVL were presented with the Consolidated Annual Management Report of the Company for 2024 (attached). There is no voting on this issue of agenda.

    2. Presentation of the independent auditor’s report on the financial statements and consolidated annual management report of the public joint stock company Invalda INVL.
    Shareholders of the public joint stock company Invalda INVL were presented with the independent auditor’s report on the financial statements and consolidated annual management report of the Company (attached). There is no voting on this issue of agenda.

    3. Approval of the consolidated and stand-alone financial statements for 2024 of the public joint stock company Invalda INVL.
    To approve the consolidated and stand-alone financial statements for 2024 of the public joint stock company Invalda INVL (attached).

    4. Resolution regarding profit distribution of the public joint stock company Invalda INVL.
    To approve the profit distribution of the joint-stock company Invalda INVL in accordance with the draft profit distribution proposed by the Board (attached).

    5. Decision on approval of the Remuneration Report of the public joint stock company Invalda INVL.
    To approve the Remuneration Report of the public joint stock company Invalda INVL for 2024 (included into the Consolidated Annual Report as Annex 4).

    6. Resolution regarding purchase of own shares of the public joint-stock company Invalda INVL.
    Until the day of the General Shareholders meeting the reserve for the purchase of own shares which is equal to EUR 9,100 thousand is not used.
    To use the reserve (a part of it) for the purchase of own shares and to purchase shares of Invalda INVL under these conditions:
    1) The goal for the purchase of own shares is to reduce the share capital of Invalda INVL by cancelling own shares acquired by the company and/or to fulfil the obligations related to the share option schemes (options) if it is decided to choose this method of granting shares.
    2) The maximum number of shares to be acquired – the nominal value of own shares may not exceed 1/10 of the share capital.
    3) The period during which the company may purchase its own shares – 18 months from the day of this resolution.
    4) The maximum and minimal one share acquisition price: the maximum one share acquisition price – value of consolidated equity per one share calculated according to the last publicly announced data of the consolidated equity of Invalda INVL before the decision of the Board is taken; minimum one share acquisition price is EUR 1.
    5) The conditions of the selling of the purchased shares and minimal sale price: Purchased own shares (including the shares acquired before the adoption of this decision) may be cancelled by the decision of the General Shareholders Meeting or by the decision of the Board granted the right to acquire the shares for the employees upon conditions of the Rules for Granting Equity Incentives. The acquired shares will not be sold and therefore no minimum selling price and no procedure for the sale of the shares are set.
    The Board of Invalda INVL is hereby mandated to:
    (i) To initiate a reduction of the Company’s share capital within the time limits specified by law if the nominal value of the own shares acquired and held exceeds 1/10 of the share capital.
    (ii) Subject to the conditions set out in this decision and the requirements of the Law on Companies of the Republic of Lithuania, take decisions regarding purchase of own shares of Invalda INVL, organise the purchase of own shares, determine the method, procedure and timing of the purchase of the shares, the number of shares and the price of the shares, and carry out any other actions relating to the purchase of own shares.
    As of the date of this resolution, the resolution of the Annual General Meeting of 30 April 2024 regarding the acquisition of own shares will expire.

    7. Resolution regarding the exercise of stock options granted to Invalda INVL Group employees in 2022.
    Pursuant to the decision of the General Meetings of Shareholders of 30 April 2022, on the basis of which stock option agreements on the acquisition of shares of Invalda INVL in 2025 were concluded with the employees of Invalda INVL and companies in which more than 50% of the shares are owned by Invalda INVL, to establish that the right of the employees to acquire the said shares is exercised by transferring to the employees own shares acquired by the company.
    To establish that, for the exercise of the stock options granted in 2022, the transfer price and the maximum number of own shares of the Company to be transferred shall be:
    A) If the shareholders’ meeting of 30 April 2025 does not approve the proposed distribution of profit and no dividends are allocated, up to a maximum of 40,862 units shall be transferred to the employees at a price per share of EUR 0.90, i.e. the purchase price of EUR 1 (one) set by the shareholders’ meeting of 30 April 2022 shall be reduced by the amount of the dividends paid prior to the signing of the share purchase agreement.
    B) If the shareholders’ meeting of 30 April 2025 approves the proposed distribution of profit and a dividend of EUR 1.25 per share is allocated, taking into account that the amount of dividends per share allocated from the date of conclusion of the option agreement to the date of signing the share purchase agreement exceeds the fixed acquisition price of EUR 1 (one), the shares shall be granted to the employees free of charge and the amount of the granted shares shall be converted in accordance with the following formula in order to preserve the economic rationale of the agreement for concluding the share purchase agreement: (0.35 (difference resulting from the payment of dividends since the conclusion of the option agreement) * number of shares allotted in 2022)/(EUR 18.80 (the higher of the closing price at the end of 2024 between the share market price and the NAV per share) – EUR 1.25 (dividends allocated)). The calculated number of shares is rounded according to mathematical rules. The number of shares to be transferred to the employees is recalculated in this way to 41,678 units.

    8. Resolution regarding the number of ordinary registered shares of Invalda INVL for which employees shall be offered stock options contracts during the year 2025 and regarding the price of the shares.
    It is offered for the employees of Invalda INVL and of the companies, in which Invalda INVL owns 50% or more  shares, during the year 2025 to sign stock options contracts, on the basis of which, according to the procedures and terms established in stock options contracts, in year 2028 employees will be able to exercise the right to acquire up to 100,000 ordinary registered shares of Invalda INVL of EUR 0.29 nominal value.
    To provide that the shares will be granted free of charge. If the company has declared dividends or paid out free funds per share prior to the grant of the shares, the number of shares to be granted will be recalculated in accordance with the following formula in order to preserve the economic logic of the share purchase agreement: (dividends granted per share at the General Shareholders Meetings in 2026, 2027 and 2028 and/or free funds disbursed per share in the period 2025 – 2028 prior to the grant of the shares) * number of shares allotted in 2025)/(the higher of the price at the end of 2027 between the share market price and the NAV per share – dividends declared at the General Shareholders Meeting in 2028 and/or free funds disbursed per share in the period 2028 prior to the grant of shares). If the shares are granted before the record date for the 2028 dividend, such dividends per share shall not be included in the conversion formula. The number of shares recalculated in accordance with this formula shall be deemed to be approved by the shareholders in accordance with the Rules for Granting Equity Incentives. If in 2028 newly issued shares are granted, the issue price per share will be equal to the nominal value of the share and it will be paid in full by Invalda INVL from the company’s reserve for granting shares.

    The person authorized to provide additional information is:
    Darius Sulnis, CEO of Invalda INVL
    Darius.Sulnis@invl.com

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    The MIL Network –

  • MIL-OSI Russia: Symbol of the Unconquered Spirit: 80 Years Since the Raising of the Victory Banner over the Reichstag

    Translation. Region: Russian Federal

    Source: State University of Management – Official website of the State –

    On April 30, 1945, several banners and flags of various units of the Red Army were installed over the Reichstag building in Berlin. But the Banner of Victory is considered to be a specially made cloth of the 150th Rifle Order of Kutuzov, 2nd degree, Idritskaya Division of the 79th Rifle Corps of the 3rd Shock Army of the 1st Belorussian Front. In accordance with Russian law, this banner is a symbol of Victory in the Great Patriotic War and a state relic.

    The Reichstag had also long had a more symbolic meaning in 1945. After the National Socialist German Workers’ Party came to power in Germany in 1933 and the building was set on fire, government meetings were no longer held there, and the plenary hall was not even repaired. In 1941, the windows were walled up, the basements became a bomb shelter, and anti-aircraft guns were installed in the corner towers. Nevertheless, for the Germans, the building remained one of the symbols of statehood. And the Soviet troops needed the final goal of their victorious campaign in the form of a real object. With the approval of Joseph Stalin, the Reichstag building was chosen as such a goal.

    Given the circumstances, the Reichstag was defended by elite SS units, not only Germans, but also Swedes, Norwegians, and Latvians. And the building was stormed by the most experienced Red Army guards. Due to the ferocity of the battles and the contradictory reports, it is difficult to reliably determine who was the first to raise the flag over the Reichstag. In addition to the nine flags specially made for this purpose, many went into battle with homemade flags. According to various sources, there were from 20 to 40 of them. Recently, it has been accepted that on the afternoon of April 30, the fighters of the 150th Rifle Division, Lieutenant Rakhimzhan Koshkarbayev and Private Grigory Bulatov, were in the lead. Later, two more flags were raised. Noticing this, the Germans began shelling the building and, having broken the glass dome, managed to destroy all three flags.

    Late in the evening of April 30 (already May 1 Moscow time), Junior Lieutenant Meliton Kantaria and Private Mikhail Egorov from the same 150th Rifle Division managed to install the banner on the eastern facade of the building, where it could not be reached by enemy artillery. It was this flag that became the Victory Banner. On May 2, after the capitulation of the Berlin garrison, the same soldiers were ordered to move the banner to the dome of the Reichstag. A few days later, for the sake of safety, the banner was removed, and on June 20 it was transported by plane to Moscow, where it was transferred for permanent storage to the Central Museum of the Armed Forces.

    Thus, both the actual and symbolic victory over Germany was achieved at the very beginning of May. All that remained was to confirm it legally.

    #Scientific regiment

    Subscribe to the TG channel “Our GUU” Date of publication: 04/30/2025

    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 –