NewzIntel.com

Category: Europe

  • MIL-OSI: Moody’s left LHV Group’s ratings unchanged

    Source: GlobeNewswire (MIL-OSI)

    The rating agency Moody’s Investors Service affirmed AS LHV Pank’s and AS LHV Group’s raitings, leaving LHV Pank’s long-term deposit rating to A3 level (with positive outlook) and LHV Group’s long-term issuer rating to Baa3 (with a positiive outlook). These ratings indicate LHV’s strong financial position and capitalization as well as express the expectation of further strengthening of solidity.

    Moody’s has assigned AS LHV Group long-term issuer ratings:

    • Long-term issuer rating Baa3
    • Senior unsecured rating Baa3
    • Outlook of the ratings is positive

    Moody’s affirmed the raitings assigned to AS LHV Pank:

    • Long- and short-term counterparty risk assessment of A3(cr)/Prime-2(cr)
    • Long- and short-term counterparty risk rating of A3/Prime-2
    • Long-term bank deposit rating A3
    • Short-term bank deposit rating Prime-2
    • The long-term deposit rating carries a positive outlook

    Additional information: www.moodys.com

    LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,160 people. As at the end of March, LHV’s banking services are being used by 465,000 clients, the pension funds managed by LHV have 113,000 active customers, and LHV Kindlustus is protecting a total of 174,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized enterprises.

    Priit Rum
    Communications Manager
    Phone: +372 502 0786
    Email: priit.rum@lhv.ee

    The MIL Network –

  • MIL-OSI United Kingdom: Latest statement on electrical substation fire | Westminster City Council

    Source: City of Westminster

    A Westminster City Council spokesperson said:

    “We have been supporting around 40 residents since they were evacuated from their homes early this morning. Two rest centres were immediately set up to provide residents with refreshments and support from housing and welfare officers. We will continue to offer support until those affected can return to their homes.”

     Information about road closures and available support can be found here.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: New cryptoasset rules to drive growth and protect consumers

    Source: United Kingdom – Government Statements

    Press release

    New cryptoasset rules to drive growth and protect consumers

    Changes support innovation while cracking down on fraudsters

    • Clear new rules to give investors confidence and protect consumers
    • Chancellor also reveals discussions with US about supporting the use and responsible growth of digital assets, as Government works in national interest to drive growth through Plan for Change

    Firms offering services for cryptoassets like Bitcoin and Ethereum will be subject to new, clear rules, boosting investor confidence and driving growth through the Plan for Change.  

    At a major summit in London to mark UK Fintech Week, the Chancellor revealed that the UK has published draft legislation for regulating cryptoassets – better protecting millions of people across Britain. 

    Around 12% of UK adults now own or have owned crypto, up from just 4% in 2021. But too often, consumers have been left exposed to risky firms and scams. 

    Under the new rules, crypto exchanges, dealers and agents will be brought into the regulatory perimeter — cracking down on bad actors while supporting legitimate innovation.  Crypto firms with UK customers will also have to meet clear standards on transparency, consumer protection, and operational resilience — just like firms in traditional finance. 

    The Chancellor also revealed that the UK and US will use the upcoming UK – U.S. Financial Regulatory Working Group to continue engagement to support the use and responsible growth of digital assets.  

    This follows discussions in Washington between the Chancellor and the US Treasury Secretary, Scott Bessent, where they also discussed opportunities to support businesses to innovate on both sides of the Atlantic. This includes looking at ideas for how we could allow for greater collaboration on digital securities between the UK and US, including the proposals put forward by SEC Commissioner Hester Peirce for a transatlantic sandbox for digital securities. 

    Rachel Reeves, Chancellor of the Exchequer, said:

    Through our Plan for Change, we are making Britain the best place in the world to innovate — and the safest place for consumers. Robust rules around crypto will boost investor confidence, support the growth of Fintech and protect people across the UK.

    Today’s announcement sends a clear signal: Britain is open for business — but closed to fraud, abuse, and instability.  

    The Chancellor also announced that the government will publish the first-ever Financial Services Growth and Competitiveness Strategy on 15 July, alongside her Mansion House speech. This will support the financial services sector’s long term growth, with Fintech identified as a priority sector, and help it finance investment and growth across the UK. 

    The government will bring forward final cryptoasset legislation at the earliest opportunity, following engagement on the draft provisions with industry. 

    More information

    • The UK’s Financial Conduct Authority (FCA) consumer research found that around 12% of UK adults owned crypto in 2024, up from 4% in 2021.
    • The 2023 Treasury consultation proposed bringing a wide range of cryptoasset activities — including exchanges and custody services — within the UK’s financial services regulatory perimeter.
    • The government remains committed to making the UK a global hub for digital asset technologies, aligned with the Plan for Change to drive growth, innovation and security.
    • Read the draft legislation and accompanying policy explainer.

    Updates to this page

    Published 29 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI Security: Foreign National Pleads Guilty To Conspiring To Submit Over 100 Fraudulent Voter Registrations

    Source: Office of United States Attorneys

    Tampa, Florida – United States Attorney Gregory W. Kehoe announces that Sanjar Jamilov (32, Uzbekistan) has pleaded guilty to conspiring to submit fraudulent voter registrations. Jamilov faces a maximum penalty of 5 years in federal prison. A sentencing date has not yet been set.

    According to the plea agreement, Dmitry Shushlebin (45, Russia) hired Jamilov and others to submit more than 100 fraudulent voter registration applications to the Pinellas County Supervisor of Elections in February and March 2023. These applications were submitted in names other than their own, in envelopes with return and address labels that were identically formatted, including containing the same typographical error, and bore various indicia of fraud including, among other things, repeating dates of birth and addresses and nearly sequential Social Security numbers. Change of address forms were also submitted to the U.S. Postal Service to route mail to the names and addresses on the fraudulent applications to three locations that Shushlebin and Jamilov allegedly controlled. The Pinellas County Supervisor of Elections was able to detect the fraud and rejected the fraudulent applications.

    Dmitry Shushlebin has been charged for his alleged role in this case. The case is currently pending.

    This case was investigated by the United States Postal Inspection Service, the Federal Bureau of Investigation, and the Florida Department of Law Enforcement. It is being prosecuted by Assistant United States Attorney Daniel J. Marcet and Trial Attorney Leo Wise from the Justice Department’s Public Integrity Section.

    MIL Security OSI –

  • MIL-OSI: Nokia Corporation’s Board of Directors’ Assembly Meeting Decisions and Dividend

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    29 April 2025 at 16.15 EEST

    Nokia Corporation’s Board of Directors’ Assembly Meeting Decisions and Dividend 

    Composition of the Board and Committees
    In its assembly meeting, the Board of Directors of Nokia Corporation elected Sari Baldauf as Chair and Timo Ihamuotila as Vice Chair of the Board.
    The following Board members were elected to the Board’s Committees:

    • Thomas Dannenfeldt was elected as Chair and Pernille Erenbjerg, Lisa Hook and Mike McNamara as members of the Audit Committee.
    • Timo Ihamuotila was elected as Chair and Sari Baldauf, Pernille Erenbjerg and Thomas Saueressig as members of the Corporate Governance and Nomination Committee.
    • Thomas Dannenfeldt was elected as Chair and Timo Ahopelto, Sari Baldauf and Elizabeth Crain as members of the Personnel Committee.
    • Kai Öistämö was elected as Chair and Timo Ahopelto, Mike McNamara and Thomas Saueressig as members of the Technology Committee.
    • Elizabeth Crain was elected as Chair and Sari Baldauf, Lisa Hook, Timo Ihamuotila and Kai Öistämö as members of the Strategy Committee.

    Dividend
    The Board of Directors has resolved, on the basis of the authorization by the Annual General Meeting 2025, on a dividend of EUR 0.04 per share. The dividend will be paid to a shareholder registered in the Company’s shareholders’ register maintained by Euroclear Finland Oy. on the record date of the payment, on 5 May 2025. The dividend will be paid on 12 May 2025. The actual dividend payment date outside Finland will be determined by the practices of the intermediary banks transferring the dividend payments. Following this announced dividend, the Board’s remaining asset distribution authorization is a maximum of EUR 0.10 per share.

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

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

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

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

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

    The MIL Network –

  • MIL-OSI: cBrain aims to create and lead two new global solution niches

    Source: GlobeNewswire (MIL-OSI)

    Company Announcement no. 05/2025

    cBrain aims to create and lead two new global solution niches

    Copenhagen, April 29, 2025

    The faster-than-anticipated shift in the government IT market toward COTS government software presents new strategic opportunities for cBrain. As a result, cBrain (NASDAQ: CBRAIN) has announced to adjust its growth strategy during the first half of 2025 to capitalize on these market changes.

    Consequently, the growth strategy is extended by adding a focus on two market niches with global potential. Utilizing a strong financial position, cBrain is now building two new units, dedicated to achieving global leadership in two global solution areas, referred to as Paperless Ministry and Environmental Permitting.

    Solid development in Denmark and internationally

    cBrain has entered the year as planned with continued development in Denmark and international markets.

    In January, cBrain announced an agreement to deliver the F2 Digital platform for the new Danish Ministry of Resilience and Preparedness. The F2 solution was configured for the ministerial work, ready-to-go-live, in 3 weeks.

    In March cBrain announced the successful delivery of the F2 Digital platform for the Danish Energy Agency. F2 has been configured as a grant management solution to support the heat pump subsidy program. At launch the agency said the new solution exceeded all expectations, with almost 70% of all applications being processed fully automatically, and the first 930 citizen applications approved within only minutes of launching the subsidy program.

    In Germany, cBrain continues deploying F2 with the agency that administrates public pensions. Several thousand users have gone live during the first months of the year, and cBrain has won a new tender extending the scope of work.

    In Romania, cBrain’s partner has won a public tender to deliver a new national platform for administrating citizen pensions. F2 is now being configured as the case management and processing kernel, supporting close to 100 different administrative processes and integrating with multiple other systems. cBrain sees the project as a milestone both technically and strategically, demonstrating the power of the F2 Service Builder and the early success of the F2-for-Partner strategy.

    Taking leadership within Paperless Ministry and Environmental Permitting

    The long-term cBrain growth strategy is founded on a vision and a business case to provide standard software for government. Working in close collaboration with Danish government for 15 years, cBrain has invested more than 450,000 hours in developing the F2 platform.

    Today, almost all Danish ministries, and more than 75 Danish authorities in total, use F2 as their digital platform. Internationally, cBrain has delivered F2 to government organizations across five continents. With Denmark ranked number one in the United Nations E-Government Survey for the past eight years, this offers cBrain a strong first-mover advantage and a solid reference position.

    Leveraging the F2 software platform, cBrain is executing an ambitious international growth plan with the aim of becoming a global leader in the fast emerging market for Commercial Off-The-Shelf (COTS) software built for government.

    With the 2024 Annual Report, cBrain stated that the transition from custom-built IT solutions to standardized platforms seems to emerge faster than anticipated. This assumption seems to be continuously validated throughout the spring. An increasing number of competitors are repositioning themselves as COTS suppliers, and the White House issued an executive order in April directing the administration to prioritize the procurement of commercial off-the-shelf solutions rather than procuring custom products and developing systems.

    The faster-than-anticipated shift in the government IT market toward COTS government software presents new strategic opportunities for cBrain. As a result, cBrain has announced an adjustment to its growth strategy during the first half of 2025 to capitalize on these market changes.

    The core of cBrain’s growth strategy is built on serving large government clients, securing steady, sustainable growth through long-term software subscriptions, and accelerating international growth through the F2-for-Partners concept.

    The growth strategy is now being extended by adding a focus on two market niches with global potential. Utilizing a strong financial position, cBrain is now building two new units, dedicated to achieving global leadership in two global solution areas, referred to as Paperless Ministry and Environmental Permitting.

    The F2 Paperless Ministry Solution

    cBrain has built a strong home market position in Denmark. This position has been achieved by taking leadership as the supplier of the F2 Paperless Ministry solution, which today is the digital platform for almost all Danish ministries.

    In the autumn 2024 the Danish government announced 3 new ministries, and in January cBrain announced that all 3 new ministries have now chosen F2 as their digital platform. The F2 ministry solution was installed and configured, ready to go live within only 3 weeks. The new ministerial projects demonstrate the power of Commercial Off-The-Shelf (COTS) for government solutions and consolidate cBrains unique position in the Danish market.

    Building from the paperless ministry leadership position, cBrain has successfully been able to expand outside the ministerial solution niche into the broad Danish government market. Today serving more than 75 Danish government organizations with a large catalog of citizen-facing solutions, from tax solutions and auditing to grants management, inspections, licensing, and family affairs.

    A key pillar of the expanded growth strategy is to replicate the Danish success by establishing bridgeheads in new international markets, based on a focused, vertical go-to-market approach centered around the Paperless Ministry offering. The ultimate goal is to achieve global niche leadership, thereby securing a strong foundation for future growth.

    cBrain is currently testing and validating the new strategic Paperless Ministry initiative, with market initiatives in Europe and Africa.

    In Europe, cBrain is still working to establish contacts with ministries in selected countries. In Africa, the initial market activities have led to a pilot project, where the Danish Paperless Ministry solution was configured and made ready to go live for a Kenyan ministry in just 10 weeks.

    cBrain is now developing a go-to-market plan for the African region, working closely with Danish embassies in Africa and aligning with the UNDP Digital Offer for Africa strategy. This builds on the partnership with UNDP announced in November 2024. cBrain sees the African Paperless Ministry solution, leveraging Danish government experience, as a unique tool to help African governments achieve fast digital transformation.

    Environmental Permitting

    As a second pillar of its expanded growth strategy, and in parallel with the Paperless Ministry initiative, cBrain has launched an ambitious initiative to position the F2 Environmental Permitting solution as a strategic niche offering, aiming to take a leading international market position.

    The importance of environmental assessment and permitting is growing worldwide. Government review and permitting processes are required for many infrastructure projects, including roads, bridges, mines, factories, and power plants. In April 2025, the White House issued an executive order stating that executive departments and agencies shall make maximum use of technology in environmental review and permitting processes for infrastructure projects of all kinds.

    In close collaboration with the Danish Environmental Protection Agency (EPA), cBrain has developed an F2 based Environmental Permitting solution that eliminates the use of paper-based applications and accelerates case processing time and quality.

    In July 2024, the White House Council on Environmental Quality (CEQ) issued a report to Congress that assesses and recommends technologies to improve environmental reviews and permitting processes. In this report, the cBrain F2 Platform is highlighted as a successful process and AI tool for environmental permitting.

    cBrain therefore views environmental permitting as a potential niche entry point into the U.S. market, at both the federal and state levels, supporting its decision to invest in this area as the second pillar of its expanded growth strategy.

    cBrain maintains its financial guidance for 2025

    cBrain has provided financial guidance for the year, with an expected revenue growth of 10-15% and EBT (Earnings Before Tax) of 18-23%. cBrain maintains its financial guidance for 2025.

    The allocation of leadership and delivery resources to support the new niche initiatives may temporarily slow current activities. However, the expanded growth strategy is expected to drive new business and accelerate overall growth over time. Depending on the pace of success, executing the expanded growth strategy therefore introduces uncertainty to the 2025 revenue outlook, both on the upside and downside.

    In the 2025 budget cBrain has allocated extra one-time costs to market expansion of approximately 4 million Euro to support the revised strategy. These costs are fully included in the financial outlook for 2025 but are conditional on the validation to ensure disciplined growth.

    Best regards

    Per Tejs Knudsen, CEO

    Inquiries regarding this Company Announcement may be directed to

    Ejvind Jørgensen, CFO & Head of Investor Relations, cBrain A/S, ir@cbrain.com, +45 2594 4973

    Attachment

    The MIL Network –

  • MIL-OSI Europe: Georgia: EUAA publishes overview of the health landscape and accessibility to oncological and psychiatric care

    Source: European Asylum Support Office

    The Agency has just published two topical reports that provide an overview of the access to oncology and psychiatry in Georgia. These two reports complement another: Georgia: Provision of Healthcare, which outlines the organisation and structure of the healthcare system in Georgia. The reports come as EU+ countries received just over 15 000 asylum applications from Georgian citizens in 2024.

    The European Union Agency for Asylum (EUAA) has recently published three Medical Country of Origin Information (“MedCOI”) reports on the state of healthcare provision in Georgia. The reports cover the general situation of healthcare provision in the country and, separately, access to oncological and psychiatric care.

    These reports are the first to be published by the EUAA, following a recently developed and agreed MedCOI methodology, the first one to be published by any public body in the world. The new methodology establishes the guiding principles for MedCOI and includes guidance on how to research and draft the reports, as well as the different quality control mechanisms integrated into the production process.

    Provision of healthcare

    In its report Georgia: Provision of Healthcare, the EUAA provides updates on the organisation of the health system, the public and private healthcare sectors, the pharmaceutical sector, as well as an overview of health insurance schemes and healthcare expenditure.

    The report outlines key developments in Georgia’s healthcare system, highlighting major reforms since the shift from the Soviet system to a decentralised model. The MedCOI report serves as a resource for understanding the evolving landscape and addressing ongoing gaps in the delivery of healthcare services. The launch of the Universal Health Care Programme (UHCP) in 2013 expanded access, but high out-of-pocket costs persist due to the dominance of private facilities. While public insurance now better supports vulnerable groups, low-income households often face significant costs. 

    New topical reports on Oncology and Psychiatry in Georgia

    Separately, the Agency has also published two topical reports on the healthcare situation in Georgia as it relates to oncology and psychiatry.

    With cancer remaining a leading cause of mortality in Georgia; in its report on Oncology, the EUAA highlights both the significant progress and ongoing challenges in cancer care, with a particular focus on insurance and access to treatment and medication.

    Under the UHCP, national authorities have increased funding for oncological treatments, now fully covering chemotherapy, radiotherapy, and surgery for all citizens, including those with private insurance. However, private insurance policies often exclude full oncological treatment, leaving many patients covering the costs of diagnostics and essential medications out-of-pocket. Despite State efforts to procure medications directly and support vulnerable groups, disparities persist, particularly in rural areas and among those needing services beyond annual public coverage limits.

    In its report on Psychiatry, the EUAA highlights both the progress and persistent challenges in Georgia’s mental healthcare system. Georgia has seen a rising prevalence of mental and behavioural disorders, especially among young adults, though underreporting remains an issue, due to the stigma often associated with mental health disorders.

    Mental healthcare services are mainly funded by public schemes, such as the state’s Mental Health Programme and the Drug Addiction Programme. Services are delivered through a mix of public and private providers, but access remains uneven across regions, and community-based care is underdeveloped. Despite increased funding in recent years, the system still falls short of international standards, and integrated care for dual diagnoses.

    Background

    The EUAA regularly publishes Medical Country-of-Origin Information reports, which aim to provide accurate and reliable up-to-date information on third countries to support EU+ national asylum and migration authorities involved in migration and international protection procedures. Medical Country of Origin information is used within international protection procedures or in the context of family reunification. Member States’ national authorities also make use of the information within migration and return procedures, to comply with their obligations under the EU Charter of Fundamental Rights.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: The treasure of trusteeship

    Source: United Kingdom – Executive Government & Departments

    Speech

    The treasure of trusteeship

    David Holdsworth delivers speech at Trustee Exchange 2025.

    Good afternoon. 

    I’m delighted to join so many of you here today at the annual Trustee Exchange.  

    This is the event in the calendar dedicated to promoting and developing trustees, and I’d like to extend my thanks to Civil Society for once again bringing us all together.  

    Because, put simply, without you, there would be no charity sector.  

    What you achieve – individually and collectively – for society, is nothing short of staggering. 

    A figure used a lot is £94 billion.

    That’s the annual turnover of the charity sector in England and Wales.

    It’s a huge figure – so huge that it’s hard to really imagine what that means, on the ground, in people’s lives. 

    Well – it means game-changing medical trials – like the one recently funded by the charity Spinal Research – a paralysed woman regaining the use of her hands so that she can now brush her young daughter’s hair.

    It means that the osprey – that magnificent bird of prey – which was once driven to near extinction in the UK – is now thriving, with over 250 nesting pairs living in Britain today. 

    It means that 30 million more people across the world now have access to a safe, working toilet. 

    It means that families with seriously ill children in hospital can stay close by in free, purpose-built accommodation. 

    And it means that, on average, two lives are saved at sea every single day by RNLI volunteers.   

    These a just a few examples of what has been made possible by the charity sector, and the steadfast custodianship of its trustees.  

    So please, take a moment to reflect on your own contribution to the countless and varied achievements of charities across the years.  

    I can assure you, your work does not go unnoticed by us or the public. 

    So ensuring the Commission supports you as trustees in maximising your charities’ impact is vital – and that’s what I want to discuss today. 

    It won’t come as news to you that the entire charitable sector is scaffolded by the enthusiasm, generosity, and capability of its trustees. 

    So making trusteeship an attractive prospect – both for current trustees, and for new recruits – is absolutely vital for us. 

    I’ve been in post at the Charity Commission now for nine months, and in this time have had the pleasure of visiting a great range of charities in England and Wales.  

    I don’t need to tell anyone here today that times remain challenging for the sector as a whole. 

    Charities are on the front line, dealing with the fall out from unpredictable global politics and shifting world orders. 

    From providing aid in warzones such as Ukraine and the Middle East, to running vital services here in the UK, the sector consistently steps in to meet need – wherever it finds it. 

    All the while, charities continue to grapple with higher running costs, a challenging environment for fundraising and increasing demand for their services. 

    In the face of these challenges, many trustees are being forced to make difficult decisions about the future of their charity.  

    Against this backdrop, you might assume morale among the charities I’ve visited would be low.   

    But I’ve found the opposite to be true.  

    The trustees I’ve spoken to are realistic about the challenges they face, but overwhelmingly optimistic about the resilience of their charity to weather them.  

    They are the embodiment of public spirit.  

    Trustee research 

    Just today we have published the results our new research with ProBono Economics into the experience of trustees in England and Wales.  

    It found that the vast majority of trustees are immensely positive about their experience. Something that you and most of us who are or have been trustees of course already knew. 

    They reported multiple benefits from their role, ranging from professional benefits to a greater sense of personal connection, purpose and fulfilment.  

    Eight in ten trustees would be likely to recommend the role to others.

    Most trustees feel positive about board dynamics, and their relationships with staff. 

    Most report feeling that they are having a positive impact on the world, and that they’re more connected to their community as a result. 

    One in three said that their role expanded their social circle.  

    And the benefits don’t stop there. 

    Trustees who are still of working age found that the role supported their career development, while two thirds of trustees said they enjoyed the opportunity to use their skills in a new context. 

    More than half have served on their boards for four years or more, underlining the loyalty and dedication of many trustees.   

    The full report – which I’d encourage you to read on our website – gives us a detailed snapshot of the sector and includes useful information about the demographics of trusteeship. 

    We are seeing positive movement towards gender parity, with 43% of trustees now being female. 

    This represents a welcome shift from our last research in 2017, when just 36% were women. So more to do, but progress.  

    Over half of all trustees are retired, with the average age being 65.  

    Although there are proportionately fewer younger people involved in trusteeship, for those who do, there seem to be multiple benefits.

    Over half of trustees under 30 said that their role supported their career development.  

    White people are overrepresented on charity boards compared to their proportion of the overall population, and by that same measure, there are fewer trustees from ethnic minorities as compared with the national average.  

    This is a challenge we need to collectively address, but again, as with the gender breakdown, there are some positives to take away from the new research.  

    For example, there are proportionally more Black trustees aged under 60 than in the general under age 60 population (7% compared to 5%), indicating that we are seeing the green shoots of a move towards greater ethnic parity among trustees.  

    Which is not to say there isn’t active work the sector needs to undertake to address the challenge! 

    Reassuringly, of the trustees we spoke to, the vast majority reported feeling confident in their role. 

    More than nine in ten reported understanding their roles and responsibilities (95%) and feeling qualified to fulfil them (93%).    

    However, the findings suggest some boards could benefit from more people with certain skills or expertise.  

    A quarter of respondents reported accessing legal expertise externally, suggesting a possible lack of relevant skills at board level.   

    While most trustees report their board had significant finance skills and experience, this was also the skillset with the second greatest reliance on external sources.    

    Elsewhere, only a quarter of boards reported any significant experience in marketing, campaigning and anti-fraud skills. 

    Collectively, these findings demonstrate the importance of helping charities to recruit people with a broader range of skills, backgrounds and experience – ultimately strengthening their charity’s governance. 

    While we must always work collectively on ensuring the pipeline of trustees remains flowing, I don’t accept there is any kind of ‘crisis’ in trusteeship.  

    Of the 60 million people in England and Wales, more than 800,000 are trustees. 

    And this figure has remained broadly stable over time.   

    So, as the old saying goes, you really are never more than 6 feet away from a charity trustee.  

    And, casting the Commission as Pied Piper – in this analogy that I’m beginning to regret – we want to lead trustees on the path to good governance. 

    Because, although trustees are plentiful, our work at the Commission does indicate that there are charities on the register with a smaller number of trustees on their board – around 11% of charities have fewer than three trustees, according to our 2023 Annual Returns.  

    Although this does not necessarily mean they are inquorate, very small trustee boards can have the potential to increase risk factors relating to dominance, lack of independence and conflicts of interest.     

    This, along with the skills gaps within existing boards, demonstrates the continued need for widening the base of trustees.  

    Along with the sector, it’s vital that we respond to these findings and help inspire a pipeline of people willing to serve as volunteer trustees into the future. 

    The big question, then, is how? 

    Widening access to trusteeship 

    In this space, it would be remiss of me not to mention the sad demise of Getting on Board last year.  

    For twenty years, the organisation played a vital role in encouraging new talent into trusteeship and its contribution will be sorely missed in the sector. 

    We must all take up this mantle, and work proactively to encourage others to become trustees. 

    Because, in fact, the very best advert for trusteeship is you.  

    Most of you tend to be quite shy about the amazing work you do – after all, it’s simply not very British to shout our achievements from the rooftops is it? 

    But one of the best ways to encourage trusteeship is by being a walking, talking advert for the role.  

    By being more open – talking more – and celebrating the amazing work you do, you can publicly demonstrate the opportunities trusteeship presents. 

    Don’t underestimate the power of your own story. 

    We also know that there is work to be done on improving trustee recruitment practices, so that new wells of talent can be tapped. 

    The new data from PBE suggests that most charities rely strongly on their existing networks to recruit trustees.  

    One in three charity trustees was asked to join the board directly by the Chair, while only 6% of trustee recruitment came from advertising. 

    Of course, informal networking and personal recommendations can be invaluable, especially when charities are stretched for time. 

    But this may come at the expense of casting the net wider, to recruit trustees who could bring different skills and perspectives to the board. 

    Looking beyond existing supporter bases, with fair and open recruitment practices, will help the sector engage a broader pool of trustee talent. 

    To help charities with this endeavour, we’ll be publishing refreshed guidance on finding new trustees – CC30 – in the coming months.  

    We’ll be providing updated advice around the recruitment process and how to recruit further afield. Reach Volunteering’s digital platform being a great tool, for example, especially as its services are offered free of charge for smaller charities.  

    Please, do take five minutes to read it and think about the ways in which you can apply the guidance in your own charity. 

    The Voluntary Principle 

    I know that for some, one solution to recruitment difficulties would be to pay trustees for their service, thereby attracting a wider range of candidates to roles. 

    In fact, our director of policy and communications, Paul Latham, took part in a panel discussion on the matter here at Trustee Exchange this morning. 

    One argument for paying for trustees is that it would broaden the role’s appeal, particularly amongst currently underrepresented groups. 

    But, according to research from the volunteer recruitment charity Reach, the data shows that for age, ethnicity, gender and sexuality this does not hold true.  

    Voluntary service has proven to be no barrier to diversity when it comes to trustee recruitment. 

    At this point, I would like to be clear, however, that no one should feel as though they can’t afford to participate in trusteeship.  

    And that is one reason we’ve also published a new, separate guide on trustee expenses. 

    The Commission is clear that expenses do not constitute trustee ‘payments’ and that trustees are entitled to have their reasonable expenses reimbursed by the charity. 

    This can include childcare, travel costs and meals when acting on behalf of their charity. 

    In this way, trustees can undertake their voluntary duties without worrying that that it will put them out of pocket.    

    But while we heard some cogent arguments in favour of paying trustees at the panel today, to my mind, none can truly stand up to what’s at stake here.  

    Which is why I want to be very clear – it’s the Commission’s belief that voluntary trusteeship underpins the public’s trust in charity. 

    And public trust is particularly important when you consider the fact that charities in England and Wales rely on public donations of almost 60 billion every year.

    The research consistently backs this up.  

    Charity trust is currently at a 10-year high – and time and again we are told that what matters most to people is knowing how their donation is spent. 

    Rightly or wrongly, the public’s positive perception of charity is intrinsically linked with the concept of voluntary service, of doing good for others, not to gain financially, but in return for the personal rewards I mentioned earlier. 

    In our research into public trust in charities in 2023, most people said they were more inclined to trust a charity run by volunteers, than one run by paid professionals.  

    Put simply, voluntary trusteeship is the lynchpin of the public’s trust in charity – and we must guard it fiercely.  

    We already know that the vast majority of trustees undertake their duties voluntarily.  

    There are an incredible 800,000 trustees on our register, filling almost a million trustee positions. Of those, only a very small proportion receive any kind of payment. 

    Last year, fewer than one in ten charities declared they were paying trustees, and in most of these cases, it was for providing goods or services. 

    But some charities will be faced with decisions about whether to pay one or more trustee, whether for the role itself or as payment for goods and services. It is vital that charities get these decisions right, and boards fulfil legal duties and responsibilities carefully. 

    We’ve recently refreshed and revised our guidance on the topic – CC11 – with the aim of making it easier for trustees to know what is expected of them when making this decision. 

    Conclusion  

    But as I draw to a close, I want to return my focus to the present – and to the three quarters of a million-strong community of trustees that we currently have on our register.   

    As our research released today has shown, it’s a role like no other – one that asks a lot of its incumbent – but also one that repays this effort with interest. 

    What you all have built, in your individual organisations, and as civic society – is truly remarkable. 

    It must be nurtured, cherished and defended. 

    And with your dedication, commitment and public spirit, I can’t think of a better group to do so.  

    Thank you.

    Updates to this page

    Published 29 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Recyclability Assessment Methodology (RAM) v1.1

    Source: United Kingdom – Government Statements

    News story

    Recyclability Assessment Methodology (RAM) v1.1

    An updated version of the Extended Producer Responsibility for Packaging (pEPR) Recyclability Assessment Methodology (RAM) is available.

    An updated version of the Extended Producer Responsibility for Packaging (pEPR) Recyclability Assessment Methodology (RAM), referred to as v1.1, has been published on GOV.UK.

    RAM v1.1 has been created following feedback from industry on RAM v1, which was published on 23 December 2024.  

    Simplifications informed by the value chain  

    PackUK carried out a RAM simplification sprint in February 2025. The aim of the sprint was to reduce complexity of the RAM and increase the viability of producers being able to fully complete RAM assessments in 2025.   

    The sprint involved gathering feedback on the first iteration of the RAM and offering up simplifications, which have been incorporated into the newly released v1.1.  

    The sprint was positively received by industry. A broad range of stakeholders contributed a variety of comments and content suggestions for v1.1, including targeted feedback from retailers and brands with large and complex product portfolios.      

    The suggestions were cross-referenced against industry standards and technical feedback was sought from industry material associations to ensure accuracy and consistency.     

    On 8 April 2025, PackUK sent a final technical draft of RAM v1.1 out to packaging producers. The technical draft aimed to provide stakeholders with as much lead in time as possible, ensuring they can apply the guidance in 2025.     

    What this means

    The RAM methodology will enable large packaging producers to assess the recyclability of their household packaging and produce a red/amber/green output which will inform the level of fee modulation payable for that material from year 2 of pEPR.  

    Producers are required to apply the methodology for household packaging placed on the market from 1 January 2025, with the first reporting deadline being 1 October 2025.   

    Only large producers (also known as ‘large organisations’) must report their recyclability assessment data. Find out about small and large producers.  

    You only need to collect and report recyclability assessment data if you are responsible for household packaging.  

    Join the Circular Economy stakeholder forum   

    At the May stakeholder forum, we will deliver a presentation on RAM v1.1. There will also be an opportunity for stakeholders to ask in-depth questions and relay feedback.   

    • date: Tuesday 6 May 2025  

    • time: 2:30pm to 4pm  

    • registration: Please register for the forum on Microsoft Teams Live  

    Please direct any questions about RAM v1.1 to the EPRCustomerService@defra.gov.uk

    Updates to this page

    Published 29 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: The Academic Council discussed youth policy issues

    Translation. Region: Russian Federal

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

    The meeting of the Academic Council began, as per tradition, with a pleasant ceremony of honoring the Polytechnicians and the university’s partners.

    For her significant contribution to the development of the university, the rector of SPbPU Andrey Rudskoy awarded the commemorative badge “For Merit” to the federal inspector for St. Petersburg of the Office of the Plenipotentiary Representative of the President of the Russian Federation in the Northwestern Federal District Tatyana Kubrakova.

    Then Andrey Ivanovich congratulated the graduate and postgraduate student of the Polytechnic University, assistant of the Higher School of Sports Pedagogy of the Institute of Physical Culture, Sports and Tourism, Honored Master of Sports of the Russian Federation, World and European Champion in short water Kirill Prigoda with a recent victory at the Russian Swimming Championship. The Polytechnician was the best in five distances: 50, 100, 200 meters breaststroke, in the 4×100 relay medley swimming and broke the Russian record. Kirill is the pride of the Polytechnic University, and given his great contribution to strengthening the positive image of the university, the Rector of SPbPU presented him with the main award of the university – the “For Merit” badge with special feeling.

    Candidate of Pedagogical Sciences diplomas were awarded to Igor Rovnin, a graduate of the Institute of Physical Culture, Sports and Tourism, deputy director of the private general education institution Gazprom School Saint Petersburg (academic supervisor – professor of the Higher School of Sports Pedagogy of SPbPU Alexander Bolotin) and senior lecturer of the Department of Foreign Languages Galina Borshchenko (academic supervisor – doctor of pedagogical sciences, professor Anna Rubtsova).

    Milana Zhavner received an associate professor’s certificate in the scientific specialty “Mechanical Science”.

    It’s time to honor the winners and prize winners of various competitions and contests. Winner of the Gazprom Neft League of Universities Award The SPbPU team won in the “Big Prospects” nomination, presenting an additional professional development program “Reverse Engineering of Oil Industry Enterprises”: Vice-Rector for Continuing and Pre-University Education Dmitry Tikhonov, Director of the Information Technology and Business Analysis Research Center “Gazprom Neft” Irina Rudskaya, Head of the Directorate of Continuing Education and Industry Partnership, Head of the Program Ivan Kurta, and Leading Analyst of the Directorate of Continuing Education and Industry Partnership Natalia Ivanova.

    The team of the Higher School of Media Communications and Public Relations of the Humanitarian Institute, consisting of Adelina Borodina, Aya Klimacheva, Vladislava Smelova, and Taisiya Temirova (project mentor – Director of the Higher School of Media Communications and Public Relations Marina Arkannikova), won in two nominations of the All-Russian competition of student works “Archer of the Future”.

    And the volunteer project “Polytech Gives Good” by students of the Higher School of Microbiology and Social Sciences Sofia Ryabinina and Elina Avakova took 1st place in the All-Russian competition “School of Volunteers”.

    L. N. Gumilyov Eurasian National University (Kazakhstan) sent letters of gratitude to Polytechnic University teachers Natalia Chicherina, Maya Bernavskaya, Evgenia Tuchkevich and Evgenia Vorontsova for promoting fruitful educational and scientific cooperation, supporting scientific events and active participation in the international seminar “New paradigms of scientific research in the era of AI: opportunities and transformation of research practices”.

    The SPbPU Certificate of Honor for many years of conscientious work and high professionalism was awarded to the Head of the Quality Control Department, Maxim Dyuldin.

    For the first time in the history of the Polytechnic Military Training Center, for excellent academic performance, active civic position, initiative and diligence demonstrated in volunteer work and assistance to participants of the SVO, students of the communications department Grigory Aleksandrov (IMMiT) and Artem Tikhonravov (IEIT) received departmental awards of the Ministry of Defense of the Russian Federation – the medal “Marshal of the Signal Troops Peresypkin”.

    Lecturer at the Institute of Secondary Vocational Education Tatiana Tsvetkova received two awards – gratitude from the Committee on Science and Higher Education “For conscientious work, great personal contribution to the development of the professional education system of St. Petersburg” and gratitude from the rector of SPbPU A. I. Rudskoy “For the successful organization and holding of the opening Museum of the History of the Development of Public Catering in St. Petersburg as part of the St. Petersburg government project “St. Petersburg cuisine”.

    At the international robot fighting championship RoboWars, which took place in the Indian city of Surat during the largest technology festival Mindbend and brought together more than 80 teams from different countries, the CML-team of the Student Design Bureau of the Advanced Engineering School “Digital Engineering” won – engineer of the Experimental Design Bureau of the SPbPU PISh Vsevolod Bolshakov and laboratory assistant of the Experimental Design Bureau of the SPbPU PISh Daria Kuatkhina. The guys also became winners in the individual competition “Battle of Robots – KRASHILOVO”, in which more than 40 teams from different regions of Russia participated.

    As always, the athletes pleased us with their success. The Polytechnicians became the first in the St. Petersburg student cheerleading competitions (thanks to students Marat Gainutdinov, Victoria Nechaeva, Arina Rakhmatulina and Margarita Senina)

    According to the results of the student karate competitions (VKF) within the framework of the St. Petersburg Student Sports Games 2025, Polytech won 1st place in the overall team standings. This is the merit of the coach of the Student Sports Club “Black Bears-Polytech” Elizaveta Orlova, as well as students Anastasia Vasilenko, Maria Luganskaya and Valery Kazantsev.

    The SPbPU hockey team also won the All-Russian final of the Student Hockey League championship and earned special congratulations from the SPbPU Academic Council.

    After the official ceremony, the Academic Council moved on to the agenda. Vice-Rector for Youth Policy and Communication Technologies Maxim Pasholikov spoke about the implementation of youth policy at the university.

    “It is important that students from their first year begin to understand the values our university lives by, accept these values and leave the Polytechnic as spiritually mature people with the right life guidelines,” emphasized Maxim Pasholikov. “Our communities have always been the main actor in our youth policy. It is impossible to reach all 30 thousand students given the limited resources. That is why trade union organizations, the headquarters of student teams, the adapter movement, patriotic and sports clubs, creative associations that attract a large number of young people are important to us, and, accordingly, through them, through their leaders, we work with young people.”

    Maxim Aleksandrovich noted that the leaders of student associations in many cases become mentors for their younger comrades, and even after graduating from university, they return here as members of the alumni association and ambassadors of the Polytechnic University.

    The Vice-Rector noted that the SPbPU History Museum, creative semesters and last year’s innovation – musical changes on the White Staircase of the Main Academic Building – play an important role in the education and formation of students’ personalities.

    The number of visitors, projects and grants is also growing in the Polytechnic Tower. Work continues within the framework of the “We are together” campaign – for this the vice-rector separately thanked the Humanitarian Institute and the “Harmony” Center.

    Maxim Aleksandrovich drew the attention of the institute directors to the fact that the relevance of social and psychological assistance at the university has grown significantly.

    This year we managed to expand the staff of the Psychological Support Center; people are asking for help, and these are not just people who want to talk, but those who are really experiencing difficulties and problems, emphasized Maxim Pasholikov.

    Maxim Aleksandrovich spoke in detail about the events dedicated to the 80th anniversary of the Victory in the Great Patriotic War, talking about the festive decoration of the campus, exhibitions, the ongoing project “Scientific Regiment” and the new video project “Memory of Glory Lives”, the play “Engineers of Victory” and the upcoming press conference at TASS about the new book “Polytech. Fortitude. 1941-1945”. As always, the inter-university military-patriotic rally “Syandeba” and “Family Victory Day” will be held in the Polytech Park on May 17, including the traditional run named after Hero of the Soviet Union Viktor Lyagin.

    The second issue on the agenda was the presentation of academic titles. By a majority of votes, the members of the SC voted to award the academic title of “professor” to Vladimir Sergeev (PhysMekh) and Alexey Flimonov (IEIT); the title of “associate professor” to Alexey Lukin (PhysMekh), Roman Burkovsky (IEIT), Alexey Grachev and Dmitry Masailo from IMMIT, Alexander Moskvichev (IBSS) and Elena Ladik (ISI).

    On the third issue, “On monitoring the implementation of decisions of the Academic Council,” the scientific secretary of SPbPU, Dmitry Karpov, made a report.

    Also, the members of the Academic Council unanimously supported the nomination of the assistant of the Rais of the Republic of Tatarstan Albert Gilmutdinov for the award of the title of “Honorary Professor of SPbPU”.

    Photo archive

    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 Canada: Canadian delegation traveling to Europe to commemorate the 80th anniversary of the liberation of the Netherlands

    Source: Government of Canada News (2)

    Remembering those who fought for peace and freedom.

    29 April 2025 – Ottawa, ON – Veterans Affairs Canada

    In the fall of 1944 and through the spring of 1945, Canadian soldiers served in Western Europe helping to liberate the Netherlands from German occupiers. Town by town, canal by canal, their perseverance paved the road to liberation and the eventual surrender of the remaining German forces. The friendship between the Netherlands and Canada has been shaped by our shared history and has only grown stronger over the years. 

    To mark the 80th anniversary of the liberation of the Netherlands, an official Government of Canada delegation will leave Canada in late April and return on 7 May 2025 following commemorative events and ceremonies.

    The delegation will include more than 20 Second World War Veterans and their families, some of them returning to the country they helped free 80 years ago, along with representatives of Veterans’ organizations and department officials. Members of the Canadian Armed Forces will also participate in events and ceremonies in the Netherlands.

    On 2 May 2025, the Government of Canada will co-host a ceremony at Groesbeek Canadian War Cemetery that will be live streamed on Veterans Affairs Canada’s “Canada Remembers” Facebook page .

    From 2-5 May 2025, visitors to Orange Park in Apeldoorn will be invited to stop by the Canada House Pavilion for an opportunity to learn about Canada’s military service around the world and enjoy some Canadian hospitality.

    All Canadians share a responsibility to keep Veterans’ stories alive, recognize the cost of war and honour their sacrifices that led to the privileges and peace we know today. 

    Join the conversation on social media by using the hashtags #CanadaRemembers  or visit veterans.gc.ca/CanadaRemembers.

    MIL OSI Canada News –

  • MIL-OSI: Vitus Marine, Greatland Fuel Sales, and Vitus Terminals Secure Combined $37M in USDA Funding to Expand Fuel Infrastructure and Strengthen Rural Alaskan Communities

    Source: GlobeNewswire (MIL-OSI)

    LAGRANGE, Ga., April 29, 2025 (GLOBE NEWSWIRE) — Vitus Marine LLC, Greatland Fuel Sales LLC (GFS), and Vitus Terminals LLC (VT), collectively (Vitus), announced today the group secured $37M in USDA Business & Industry (B&I) Loan Program funding to enhance fuel infrastructure and drive economic growth in rural Alaska. Phoenix Lender Services (Phoenix) facilitated the loan fundings with Community Bank & Trust. Phoenix is a subsidiary of Community Bankshares Inc., which originated, underwrote, and closed the loans, while Community Bank & Trust funded the loans. This second series of loans follows a total of $25M in three B&I loans funded in June of 2024 for Vitus.

    These strategic investments support existing jobs, improve access to essential energy resources and bolster local economies in some of Alaska’s most remote regions.

    On a combined basis for the three companies, these two loan tranches secured over $62 million in total funding and made a significant positive impact to strengthen vital energy infrastructure in Alaska. The Vitus family of companies runs bulk fuel, freight lighterage and energy products to consumers in remote Alaskan communities and provides vital heat, electricity and logistics support to its customers.

    “These partnerships represent the impact we strive to achieve—empowering rural businesses to grow and continuing to serve communities with critical services,” said Chris Hurn, President/CEO of Phoenix Lender Services. “Vitus Marine, Greatland Fuel Sales, and Vitus Terminals are vital to Alaska’s energy infrastructure, and we’re proud to support them through the USDA B&I Program.”

    These loans offer favorable terms with lower interest rates and longer repayment terms, reducing financial burdens and demonstrating a commitment to the sustainability and growth of rural businesses. These investments highlight a powerful public-private partnership focused on preserving access, affordability, and economic opportunity for some of America’s most underserved regions.

    “Fuel and energy access is an essential service for all people. Energy access is not a luxury for the people we serve,” said Justin Charon, Owner and CEO of Vitus. “This collaboration ensures that our customers can continue to depend on us, no matter how remote their community or harsh the delivery season.”

    For more information on Phoenix and its lending solutions, visit https://phoenixlenderservices.com.

    About Phoenix Lender Services
    Based in Georgia and serving clients nationwide, Phoenix Lender Services offers a comprehensive suite of commercial lending solutions, including loan underwriting, closing, and servicing; participant lender matching; secondary market sales; portfolio management; risk analysis; and compliance reviews and regulatory support. Seasoned professionals at Phoenix combine extensive industry expertise in SBA, USDA, and commercial government-guaranteed lending with industry-leading technologies to deliver tailored solutions that align with each client’s unique strategic goals. Phoenix Lender Services is leading the way in SBA, USDA, and commercial lending.

    About Vitus Marine LLC [1]
    Vitus Marine LLC (VM) is one of two major fuel importers and distributors in Western Alaska with the ability to craft custom import solutions, offer hedging ideas and card-lock alternatives for its commercial and industrial buyers. Its customers have learned to depend on the team at Vitus Marine for creative approaches to solve the problems they face in the remote Arctic region the team serves.

    About Vitus Terminals LLC
    Vitus Terminals LLC (VT) is one of a few major fuel importers and distributors into the roadless regions in Western Alaska. They provide heating fuel deliveries to homes and businesses with convenience store access in Bethel and Dillingham, Alaska. All locations offer 24-hour card-lock access. They specialize in the storage, sale, hedging and distribution of fuel through their service hubs in Bethel, Kotzebue, Dillingham, St. Michael, Alaska.

    About Greatland Fuel Sales LLC
    Greatland Fuel Sales LLC continues Vitus Energy’s 15-year history of providing energy to Alaska with unique and timely solutions to create value for its customers through its growing energy supply network and clean convenience stores. Their mission is to deliver competitive energy alternatives for local road warriors and visitors to Alaska.

    About Community Bank & Trust
    Community Bank & Trust (CB&T), a subsidiary of Community Bankshares Inc., is a trusted financial institution dedicated to serving individuals, families, and businesses across its service area and nationwide. Headquartered in LaGrange, GA, CB&T is committed to leveraging its rural roots to empower both local consumers and commercial entities, as well as underserved groups and communities with a broad slate of accessible, personalized banking solutions, while also reaching a diverse and growing nationwide audience.

    MEDIA CONTACT
    Hannah Conley
    Uproar by Moburst for Community Bankshares, Inc.
    hannah.conley@moburst.com

    The MIL Network –

  • MIL-OSI: Applied Announces New AI-Powered Accounting Automation Solution

    Source: GlobeNewswire (MIL-OSI)

    Chicago, IL., April 29, 2025 (GLOBE NEWSWIRE) — Applied Systems® today announced Automated Statements, an AI-powered statement recording and reconciliation application for direct bill commissions and agency bill payables launching in fall 2025. Natively embedded in Applied Epic’s General Ledger, Automated Statements will allow users to simply upload direct or agency bill statements in any format and leverage AI to extract data for matching and reconciliation to policies and plans in Applied Epic, creating step-change efficiency value for the direct bill and agency bill revenue processes.  

    Automated Statements centralizes and automates accounting workflows within Applied Epic to accelerate time-consuming reconciliation workflows and improve quality and confidence in an agency’s financial data. Covering more than 90% of certified P&C and Benefits carriers, Automated Statements in Applied Epic enables data extraction from statements received in any format, including scanned images, PDF, CSV, advanced matching to plans and policies, and financial data recording or reconciliation, depending on direct or agency billing methods. Statements can be submitted to the Applied Epic General Ledger for suspended or reconciled statements with a single click, saving staff time. AI-powered accounting automation in Applied Epic helps finance and accounting teams reconcile the statement of record with ease, ensuring their business, people, and carrier partners are paid quickly and accurately while reducing back-office costs to drive more profitable revenue growth.   

    “Applied has been at the core of agencies’ accounting and financial workflows since its inception, and with the introduction and rapid growth of digital payments with Applied Pay the past couple of years, there is a clear opportunity and demand to create more automation value for the back office,” said Chase Petrey, president, Applied Pay, Applied Systems. “Direct bill commissions and agency bill payables are two of the most common and time-consuming tasks for finance and accounting teams, and by integrating our differentiated solution directly into their management system’s general ledger, we are going to immediately create step change efficiency gains and make the process of money movement simpler and faster than ever.”

     # # #

    The Applied products and logos are trademarks of Applied Systems, Inc., registered in the U.S.

    About Applied Systems
    Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.

    The MIL Network –

  • MIL-OSI: Riverview Bancorp Reports Net Income of $1.1 Million in Fourth Fiscal Quarter 2025 and $4.9 Million for Fiscal 2025

    Source: GlobeNewswire (MIL-OSI)

    FISCAL Q4 2025 HIGHLIGHTS

           
    $1.1 Million $0.05 $6.33 0.01%
    Net Income Diluted Earnings per
    Common Share    		 Tangible Book Value per
    Share    		 NPAs to Total Assets
           
    Fiscal Quarter Comparison Highlights
    Net Interest Income and Net Interest Margin
    • $9.2 million net interest income for the quarter compared to $8.6 million in Fiscal Q4 2024
    • Net interest margin at 2.65% for the quarter compared to 2.32% in Fiscal Q4 2024
    		   Credit Quality
    • Non-performing assets at 0.01% of total assets and 0.01% of total loans – similar to year ago quarter
    • No provision booked for the quarter and net recoveries were minimal
             
    Non-Interest Income and Non-Interest Expense
    • Non-interest income of $3.7 million for the quarter compared to $494 thousand in Fiscal Q4 2024 (due to strategic investment restructure)
    • Non-interest expense of $11.4 million for the quarter compared to $13.1 million in Fiscal Q4 2024
    		   Shareholder Returns and Stock Activity
    • On April 25, 2025, the Company paid a cash dividend of $0.02 per share
    • $2.0 million stock repurchase plan completed during the quarter

    VANCOUVER, Wash., April 29, 2025 (GLOBE NEWSWIRE) — Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today reported earnings of $1.1 million, or $0.05 per diluted share, in the fourth fiscal quarter ended March 31, 2025, compared to $1.2 million, or $0.06 per diluted share, in the third fiscal quarter ended December 31, 2024. During the fourth fiscal quarter of 2024, Riverview strategically restructured a portion of its balance sheet resulting in an after-tax impact of $2.1 million and recorded $2.3 million in non-interest expense related to a litigation charge. Including the effects of the investment portfolio restructuring and litigation charge, Riverview reported a net loss of $3.0 million, or $0.14 per diluted share, in the fourth fiscal quarter ended March 31, 2024.

    For fiscal 2025, net income was $4.9 million, or $0.23 per diluted share, compared to $3.8 million, or $0.18 per diluted share, for fiscal 2024.

    “We closed out our fiscal fourth quarter and fiscal year end on solid footing despite the economic uncertainty and market volatility impacting all banks,” stated Nicole Sherman, President and Chief Executive Officer. “Riverview’s operating performance during the quarter once again reflected steady improvements, with net interest margin expansion as a result of stabilizing funding costs and higher loan yields compared to a year ago. Loan growth was strong during the quarter, and I am proud of our team’s relationship-focused approach to clients and prospects which resulted in loan production outperforming the previous four quarters. A top priority remains improving our operating performance while also being the bank of choice to our SW Washington and NW Oregon clients that we have served for over 100 years. With our strong capital levels, disciplined credit culture and stable balance sheet, we have a great foundation to build upon in fiscal 2026.

    Riverview recently completed our three-year strategic plan focusing on profitable growth, digital leadership, and data empowerment, with our employees, clients, and communities being seen, heard, and valued in everything we do. We continue to expand revenue opportunities through our C&I, business banking, and treasury management initiatives. Strategic investments in people and technology will be important, while managing operating expenses. At Riverview we are unwavering in our dedication to exceed the needs of our employees, clients, shareholders and all stakeholders,” Sherman concluded.

    Fourth Quarter Highlights (at or for the period ended March 31, 2025)

    • Net interest income was $9.2 million for the quarter, compared to $9.4 million in the preceding quarter and $8.6 million in the fourth fiscal quarter a year ago.
    • Net interest margin (“NIM”) was 2.65% for the quarter, a five basis point improvement compared to the preceding quarter and a 33 basis point improvement compared to the year ago quarter.
    • Riverview Trust Company assets under management were $877.9 million at March 31, 2025. Asset management fees continue to improve and increased to $1.5 million for the quarter ended March 31, 2025.
    • Asset quality remained strong, with non-performing assets at $155,000, or 0.01% of total assets at March 31, 2025.
    • Riverview recorded no provision for credit losses during the current quarter, the preceding quarter, or in the year ago quarter.
    • Tangible book value per share (non-GAAP) was $6.33 at March 31, 2025 compared to $6.20 at December 31, 2024.

    Fiscal 2025 Highlights (at or for the period ended March 31, 2025)

    • Total loans increased to $1.06 billion at March 31, 2025 compared to $1.02 billion at March 31, 2024.
    • Total deposits were $1.23 billion at both March 31, 2025 and March 31, 2024.
    • Tangible book value per share (non-GAAP) was $6.33 at March 31, 2025 compared to $6.07 at March 31, 2024.
    • Net income increased to $4.9 million for the fiscal year ended March 31, 2025 compared to $3.8 million for the fiscal year ended March 31, 2024.
    • Return on average assets for the fiscal year ended March 31, 2025 increased to 0.32% compared to 0.24% for the fiscal year ended March 31, 2024.

    Income Statement Review

    Riverview’s net interest income was $9.2 million in the current quarter, compared to $9.4 million in the preceding quarter, and $8.6 million in the fourth fiscal quarter a year ago. The decrease compared to the preceding quarter was primarily due to the recognition of a loan prepayment fee and related loan fees totaling $318,000 during the preceding quarter. The increase compared to the year ago quarter was driven by higher interest earning asset yields due to higher origination rates on new loan growth as well as loan repricing. In fiscal 2025, net interest income was $36.3 million, compared to $38.1 million in fiscal 2024. The decrease is attributed to the increase in interest expense over the respective periods. Investment income decreased compared to the year ago period due to the strategic investment restructuring that was executed in the fourth quarter of fiscal 2024.

    Riverview’s NIM was 2.65% for the fourth quarter of fiscal 2025, a five basis point increase compared to 2.60% in the preceding quarter and a 33 basis-point increase compared to 2.32% in the fourth quarter of fiscal 2024. “Our NIM improved during the quarter, compared to the preceding quarter, as the decrease in funding costs more than offset the modest decrease in asset yields. The preceding quarter’s loan yield included the favorable impact from the recognition of the previously mentioned loan prepayment fee and related loan fees,” said David Lam, EVP and Chief Financial Officer. “With the Federal Reserve rate reductions implemented near the end of 2024, we anticipate deposit costs to further stabilize in future quarters. Additionally, the rate cuts reduced the interest expense on borrowings, which also benefitted NIM during the fourth quarter.” In fiscal 2025, the net interest margin was 2.54% compared to 2.56% in fiscal 2024.

    Investment securities decreased $14.7 million during the quarter to $322.5 million at March 31, 2025, compared to $337.2 million at December 31, 2024, and decreased $50.2 million compared to $372.7 million at March 31, 2024. The average securities balances for the quarters ended March 31, 2025, December 31, 2024, and March 31, 2024, were $346.0 million, $364.2 million, and $444.1 million, respectively. The weighted average yields on securities balances for those same periods were 1.84%, 1.82%, and 2.02%, respectively. The duration of the investment portfolio at March 31, 2025, was approximately 5.1 years. The anticipated investment cashflows over the next twelve months is approximately $37.4 million. There were no investment purchases during the fourth fiscal quarter of 2025.

    Riverview’s yield on loans was 4.91% during the fourth fiscal quarter, compared to 4.97% in the preceding quarter, and 4.63% in the fourth fiscal quarter a year ago. “Loan yields declined during the current quarter compared to the prior quarter due to the impact on the loan yield in the prior quarter from the recognition of the loan prepayment and related loan fees. Compared to a year ago, loan yields have increased as a result of the current yield curve which has resulted in higher yields on loans when compared to the existing loan portfolio. We continue to explore opportunities to enhance our loan yield by expanding our commercial business portfolio offerings to include more variable rate loan structures,” said Mike Sventek, EVP and Chief Lending Officer. Deposit costs improved to 1.30% during the fourth fiscal quarter compared to 1.32% in the preceding quarter and increased compared to 1.00% in the fourth fiscal quarter a year ago. The increase from clients seeking higher deposit yields has moderated quarter over quarter compared to the increase from the fourth fiscal quarter a year ago given the relative change in the interest rate environment during those respective periods.

    Non-interest income increased to $3.7 million during the fourth fiscal quarter of 2025 compared to $3.3 million in the preceding quarter and $494,000 in the fourth fiscal quarter of 2024. Non-interest income during the quarter included a $261,000 BOLI death benefit. The fourth fiscal quarter of 2024 included a $2.7 million loss on the sale of investment securities from the balance sheet restructure. In fiscal 2025, non-interest income increased to $14.3 million compared to $10.2 million in fiscal 2024.

    Asset management fees were $1.5 million during the fourth fiscal quarter, compared to $1.4 million in both the third fiscal quarter and in the fourth fiscal quarter a year ago. Asset management fees from new client relationships more than offset a volatile market performance during the fourth fiscal quarter. Riverview Trust Company’s assets under management were $877.9 million at March 31, 2025, compared to $872.6 million at December 31, 2024, and $961.8 million at March 31, 2024.

    Non-interest expense was $11.4 million during the fourth fiscal quarter, compared to $11.2 million in the preceding quarter and $13.1 million in the fourth fiscal quarter a year ago. Salary and employee benefits, the largest component of non-interest expense, increased during the current quarter compared to the preceding quarter due to open positions being filled. Professional fees increased during the current quarter compared to the preceding quarter due to higher consulting fees. The efficiency ratio was 88.7% for the fourth fiscal quarter, compared to 87.6% for the preceding quarter and 144.9% in the fourth fiscal quarter a year ago. In fiscal 2025, non-interest expense was $44.3 million compared to $43.7 million in fiscal 2024.

    Riverview’s effective tax rate for the fourth fiscal quarter of 2025 was 21.5%, compared to 21.8% for the preceding quarter and (27.0)% for the year ago quarter.

    Balance Sheet Review

    Total loans increased $17.4 million during the quarter to $1.06 billion at March 31, 2025, compared to $1.05 billion three months earlier and increased $38.4 million compared to $1.02 billion a year earlier. Riverview’s loan pipeline was $41.1 million at March 31, 2025, compared to $49.1 million at the end of the preceding quarter and $18.4 million at March 31, 2024. New loan originations during the quarter increased to $49.4 million, compared to $31.1 million in the preceding quarter and $12.7 million in the fourth fiscal quarter a year ago.

    Undisbursed construction loans totaled $18.2 million at March 31, 2025, compared to $19.5 million at December 31, 2024, with the majority of the undisbursed construction loans expected to be funded over the next several quarters. Undisbursed homeowner association loans for the purpose of common area maintenance and repairs totaled $18.3 million at March 31, 2025, compared to $14.5 million at December 31, 2024. Revolving commercial business loan commitments totaled $48.9 million at March 31, 2025, compared to $46.9 million at December 31, 2024. Utilization on these loans totaled 28.90% at March 31, 2025, compared to 17.60% at December 31, 2024. The weighted average rate on loan originations during the quarter was 7.16% compared to 7.04% in the preceding quarter. Loan repricing and maturities with respective weighted average rate for fiscal year 2026 totaled $76.6 million with a weighted average rate of 4.65%. Looking ahead, loan repricing and maturities for fiscal year 2027 total $77.1 million with a weighted average rate of 4.03%, for fiscal year 2028 total $96.2 million with a weighted average rate of 5.42% and in aggregate for fiscal years after 2028 total $108.3 million with a weighted average rate of 6.09%.

    The office building loan portfolio totaled $110.9 million at March 31, 2025, compared to $113.4 million at December 31, 2024. The average loan balance of the office building loan portfolio was $1.5 million with an average loan-to-value ratio of 53.5% and an average debt service coverage ratio of 1.80x at March 31, 2025. Office building loans within the Portland core consist of two loans totaling $20.5 million which is approximately 18.5% of the total office building loan portfolio or 1.92% of total loans.

    Non-interest checking and interest checking accounts, as a percentage of total deposits, totaled 48.7% at March 31, 2025, compared to 46.8% at December 31, 2024, and 51.9% at March 31, 2024. The increase during the quarter was in part due to Riverview Bank reciprocation of $20 million of balances back from Riverview Trust. Riverview Bank had moved customer deposits to Riverview Trust as a higher yielding deposit alternative and those assets were all retained within the Company during the period of increasing interest rates. CDs decreased during the quarter as Riverview allowed higher cost CDs to run off. Total deposits increased $13.3 million during the quarter to $1.23 billion at March 31, 2025, compared to $1.22 billion at December 31, 2024, and were unchanged compared to a year ago.

    FHLB advances decreased $7.8 million during the quarter to $76.4 million at March 31, 2025, compared to $84.2 million at December 31, 2024. FHLB advances decreased during the quarter as a result of the increase in deposits.

    Shareholders’ equity increased to $160.0 million at March 31, 2025, compared to $158.3 million three months earlier and $155.6 million one year earlier. Tangible book value per share (non-GAAP) increased to $6.33 at March 31, 2025, compared to $6.20 at December 31, 2024, and $6.07 at March 31, 2024. Riverview paid a quarterly cash dividend of $0.02 per share on April 25, 2025, to shareholders of record on April 14, 2025.

    Credit Quality

    “Asset quality remains a priority during uncertain economic conditions, and we continue to closely monitor our portfolio mix, loan growth, and local and national conditions to maintain an appropriate allowance,” said Robert Benke, EVP and Chief Credit Officer. Non-performing loans, excluding SBA and USDA government guaranteed loans (“government guaranteed loans”) (non-GAAP) totaled $155,000 or 0.01% of total loans as of March 31, 2025, compared to $168,000, or 0.02% of total loans at December 31, 2024, and $173,000, or 0.02% of total loans at March 31, 2024. There were no non-performing government guaranteed loans at March 31, 2025, and one non-performing government guaranteed loan totaling $301,000 at December 31, 2024. At March 31, 2025, non-performing assets were $155,000, or 0.01% of total assets.

    Riverview recorded $22,000 in net loan recoveries for the current quarter. This compared to $114,000 in net loan charge-offs for the preceding quarter. Riverview recorded no provision for credit losses for the current quarter, or for the preceding quarter.

    Classified assets were $2.9 million at March 31, 2025, compared to $226,000 at December 31, 2024, and $723,000 at March 31, 2024. The classified assets to total capital ratio was 1.6% at March 31, 2025, compared to 0.1% at December 31, 2024, and 0.4% a year earlier. The increase in classified assets during the quarter was primarily due to one $2.0 million loan for which a plan is in place to either return to performing status or payoff. Additionally, there was a borrowing relationship with two loans totaling $725,000 that credit administration is working with the borrower to bring current or seek full payoff. Criticized assets were $48.5 million at March 31 2024, compared to $50.4 million at December 31, 2024, and $36.7 million at March 31, 2024. Criticized assets decreased during the current quarter compared to the prior quarter as a result of one loan payoff. The increase compared to a year ago was primarily due to one relationship that was moved to the criticized asset category as the loans go through probate. The Company does not anticipate any loss from this relationship.

    The allowance for credit losses was $15.4 million at March 31, 2025, December 31, 2024, and March 31, 2024, respectively. The allowance for credit losses represented 1.45% of total loans at March 31, 2025, compared to 1.47% at December 31, 2024, and 1.50% a year earlier. The allowance for credit losses to loans, net of government guaranteed loans (non-GAAP), was 1.51% at March 31, 2025, compared to 1.54% at December 31, 2024, and 1.58% a year earlier.

    Capital/Liquidity

    Riverview continues to maintain capital levels well in excess of the regulatory requirements to be categorized as “well capitalized” with a total risk-based capital ratio of 16.27% and a Tier 1 leverage ratio of 11.10% at March 31, 2025. Tangible common equity to average tangible assets ratio (non-GAAP) was 8.93% at March 31, 2025.

    Riverview has approximately $471.3 million in available liquidity at March 31, 2025, including $174.0 million of borrowing capacity from the FHLB and $297.3 million from the Federal Reserve Bank of San Francisco (“FRB”). At March 31, 2025, the Bank had $76.4 million in outstanding FHLB borrowings.

    The uninsured deposit ratio was 23.4% at March 31, 2025. Available liquidity under the FRB borrowing line would cover nearly 100% of the estimated uninsured deposits and available liquidity under both the FHLB and FRB borrowing lines would cover 163.7% of the estimated uninsured deposits.

    On September 25, 2024, the Company’s Board of Directors adopted a stock repurchase program. Under this repurchase program, the Company may repurchase up to $2.0 million of the Company’s outstanding shares of common stock, in the open market, based on prevailing market prices, or in privately negotiated transactions. Once the repurchase program is effective, the repurchase program will continue until the earlier of the completion of the repurchase or 12 months after the effective date, depending upon market conditions. During the fiscal fourth quarter, the Company repurchased 158,558 shares of common stock at an average price of $5.65. As of February 2, 2025, the Company had completed the full $2.0 million stock repurchase plan, repurchasing 358,631 shares at an average price of $5.53 per share.

    Non-GAAP Financial Measures

    In addition to results presented in accordance with generally accepted accounting principles (“GAAP”), this press release contains certain non-GAAP financial measures. Management has presented these non-GAAP financial measures in this earnings release because it believes that they provide useful and comparative information to assess trends in Riverview’s core operations reflected in the current quarter’s results and facilitate the comparison of our performance with the performance of our peers. However, these non-GAAP financial measures are supplemental and are not a substitute for any analysis based on GAAP. Where applicable, comparable earnings information using GAAP financial measures is also presented. Because not all companies use the same calculations, our presentation may not be comparable to other similarly titled measures as calculated by other companies. For a reconciliation of these non-GAAP financial measures, see the tables below.

    Tangible shareholders’ equity to tangible assets and tangible book value per share:            
                         
    (Dollars in thousands)   March 31, 2025   December 31, 2024   March 31, 2024        
                         
    Shareholders’ equity (GAAP)   $ 160,014     $ 158,270     $ 155,588          
    Exclude: Goodwill     (27,076 )     (27,076 )     (27,076 )        
    Exclude: Core deposit intangible, net     (171 )     (196 )     (271 )        
    Tangible shareholders’ equity (non-GAAP)   $ 132,767     $ 130,998     $ 128,241          
                         
    Total assets (GAAP)   $ 1,513,323     $ 1,508,609     $ 1,521,529          
    Exclude: Goodwill     (27,076 )     (27,076 )     (27,076 )        
    Exclude: Core deposit intangible, net     (171 )     (196 )     (271 )        
    Tangible assets (non-GAAP)   $ 1,486,076     $ 1,481,337     $ 1,494,182          
                         
    Shareholders’ equity to total assets (GAAP)     10.57 %     10.49 %     10.23 %        
                         
    Tangible common equity to tangible assets (non-GAAP)     8.93 %     8.84 %     8.58 %        
                         
    Shares outstanding     20,976,200       21,134,758       21,111,043          
                         
    Book value per share (GAAP)     7.63       7.49       7.37          
                         
    Tangible book value per share (non-GAAP)     6.33       6.20       6.07          
                         
                         
    Pre-tax, pre-provision income                    
        Three Months Ended   Twelve Months Ended
    (Dollars in thousands)   March 31, 2025   December 31, 2024   March 31, 2024   March 31, 2025   March 31, 2024
                         
    Net income (loss) (GAAP)   $ 1,148     $ 1,232     $ (2,968 )   $ 4,903   $ 3,799
    Include: Provision (credit) for income taxes     314       343       (1,095 )     1,335     802
    Include: Provision for credit losses     –       –       –       100     –
    Pre-tax, pre-provision income (loss) (non-GAAP)   $ 1,462     $ 1,575     $ (4,063 )   $ 6,338   $ 4,601
                         
                         
    Net income (loss) and earnings (loss) per share excluding securities restructure and litigation expense            
                         
        Three Months Ended   Twelve Months Ended
    (Dollars in thousands)   March 31, 2025   December 31, 2024   March 31, 2024   March 31, 2025   March 31, 2024
                         
    Net income (loss) (GAAP)   $ 1,148     $ 1,232     $ (2,968 )   $ 4,903   $ 3,799
    Exclude impact of securities loss restructure, net of tax     –       –       2,074       –     2,074
    Exclude impact of litigation expense, net of tax     –       –       1,748       –     1,748
    Net income excluding securities restructure and litigation expense (non-GAAP)   $ 1,148     $ 1,232     $ 854     $ 4,903   $ 7,621
                         
    Basic earnings (loss) per share (GAAP)   $ 0.05     $ 0.06     $ (0.14 )   $ 0.23   $ 0.18
    Exclude impact of securities loss restructure, net of tax     –       –       0.10       –     0.10
    Exclude impact of litigation expense, net of tax     –       –       0.08       –     0.08
    Basic earnings per share excluding securities restructure and litigation expense (GAAP)   $ 0.05     $ 0.06     $ 0.04     $ 0.23   $ 0.36
                         
    Diluted earnings (loss) per share (GAAP)   $ 0.05     $ 0.06     $ (0.14 )   $ 0.23   $ 0.18
    Exclude impact of securities loss restructure, net of tax     –       –       0.10       –     0.10
    Exclude impact of litigation expense, net of tax     –       –       0.08       –     0.08
    Diluted earnings per share excluding securities restructure and litigation expense (GAAP)   $ 0.05     $ 0.06     $ 0.04     $ 0.23   $ 0.36
                         
                         
    Allowance for credit losses reconciliation, excluding Government Guaranteed loans            
                         
    (Dollars in thousands)   March 31, 2025   December 31, 2024   March 31, 2024        
                         
    Allowance for credit losses   $ 15,374     $ 15,352     $ 15,364          
                         
    Loans receivable (GAAP)   $ 1,062,460     $ 1,045,109     $ 1,024,013          
    Exclude: Government Guaranteed loans     (47,373 )     (49,024 )     (51,013 )        
    Loans receivable excluding Government Guaranteed loans (non-GAAP)   $ 1,015,087     $ 996,085     $ 973,000          
                         
    Allowance for credit losses to loans receivable (GAAP)     1.45 %     1.47 %     1.50 %        
                         
    Allowance for credit losses to loans receivable excluding Government Guaranteed loans (non-GAAP)     1.51 %     1.54 %     1.58 %        
                         
                         
    Non-performing loans reconciliation, excluding Government Guaranteed Loans              
                         
        Three Months Ended        
    (Dollars in thousands)   March 31, 2025   December 31, 2024   March 31, 2024        
                         
    Non-performing loans (GAAP)   $ 155     $ 469     $ 178          
    Less: Non-performing Government Guaranteed loans     –       (301 )     (5 )        
    Adjusted non-performing loans excluding Government
    Guaranteed loans (non-GAAP)    		   $ 155     $ 168     $ 173          
                         
    Non-performing loans to total loans (GAAP)     0.01 %     0.04 %     0.02 %        
                         
    Non-performing loans, excluding Government Guaranteed loans to total loans (non-GAAP)     0.01 %     0.02 %     0.02 %        
                         
    Non-performing loans to total assets (GAAP)     0.01 %     0.03 %     0.01 %        
                         
    Non-performing loans, excluding Government Guaranteed loans to total assets (non-GAAP)     0.01 %     0.01 %     0.01 %        


    About Riverview

    Riverview Bancorp, Inc. (www.riverviewbank.com) is headquartered in Vancouver, Washington – just north of Portland, Oregon, on the I-5 corridor. With assets of $1.51 billion at March 31, 2025, it is the parent company of Riverview Bank, as well as Riverview Trust Company. The Bank offers true community banking services, focusing on providing the highest quality service and financial products to commercial, business and retail clients through 17 branches, including 13 in the Portland-Vancouver area, and 3 lending centers. For the past 11 years, Riverview has been named Best Bank by the readers of The Vancouver Business Journal and The Columbian.

    “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements which include statements with respect to our beliefs, plans, objectives, goals, expectations, assumptions, future economic performance and projections of financial items. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated or implied by our forward-looking statements, including, but not limited to: potential adverse impacts to economic conditions in our local market areas, other markets where the Company has lending relationships, or other aspects of the Company’s business operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation, a potential recession, the failure of the U.S. Congress to increase the debt ceiling, or slowed economic growth caused by increasing political instability from acts of war including Russia’s invasion of Ukraine, as well as supply chain disruptions, recent bank failures and any governmental or societal responses thereto; the credit risks of lending activities, including changes in the level and trend of loan delinquencies and write-offs and changes in the Company’s allowance for credit losses and provision for credit losses that may be impacted by deterioration in the housing and commercial real estate markets; changes in the levels of general interest rates, and the relative differences between short and long-term interest rates, deposit interest rates, the Company’s net interest margin and funding sources; the transition away from London Interbank Offered Rate toward new interest rate benchmarks; fluctuations in the demand for loans, the number of unsold homes, land and other properties and fluctuations in real estate values in the Company’s market areas; secondary market conditions for loans and the Company’s ability to originate loans for sale and sell loans in the secondary market; results of examinations of the Bank by the Federal Deposit Insurance Corporation and the Washington State Department of Financial Institutions, Division of Banks, and of the Company by the Board of Governors of the Federal Reserve System, or other regulatory authorities, including the possibility that any such regulatory authority may, among other things, require the Company to increase its allowance for credit losses, write-down assets, reclassify its assets, change the Bank’s regulatory capital position or affect the Company’s ability to borrow funds or maintain or increase deposits, which could adversely affect its liquidity and earnings; legislative or regulatory changes that adversely affect the Company’s business including changes in banking, securities and tax law, and in regulatory policies and principles, or the interpretation of regulatory capital or other rules; the Company’s ability to attract and retain deposits; the unexpected outflow of uninsured deposits that may require us to sell investment securities at a loss; the Company’s ability to control operating costs and expenses; the use of estimates in determining fair value of certain of the Company’s assets, which estimates may prove to be incorrect and result in significant declines in valuation; difficulties in reducing risks associated with the loans on the Company’s consolidated balance sheet; staffing fluctuations in response to product demand or the implementation of corporate strategies that affect the Company’s workforce and potential associated charges; disruptions, security breaches or other adverse events, failures or interruptions in or attacks on our information technology systems or on the third-party vendors who perform several of our critical processing functions; the Company’s ability to retain key members of its senior management team; costs and effects of litigation, including settlements and judgments; the Company’s ability to implement its business strategies; the Company’s ability to successfully integrate any assets, liabilities, customers, systems, and management personnel it may acquire into its operations and the Company’s ability to realize related revenue synergies and cost savings within expected time frames; future goodwill impairment due to changes in Riverview’s business, changes in market conditions, or other factors; increased competitive pressures among financial services companies; changes in consumer spending, borrowing and savings habits; the availability of resources to address changes in laws, rules, or regulations or to respond to regulatory actions; the Company’s ability to pay dividends on its common stock; the quality and composition of our securities portfolio and the impact of and adverse changes in the securities markets, including market liquidity; inability of key third-party providers to perform their obligations to us; changes in accounting policies and practices, as may be adopted by the financial institution regulatory agencies or the Financial Accounting Standards Board, including additional guidance and interpretation on accounting issues and details of the implementation of new accounting standards; the effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, and other external events on our business; and other economic, competitive, governmental, regulatory, and technological factors affecting the Company’s operations, pricing, products and services, and the other risks described from time to time in our reports filed with and furnished to the U.S. Securities and Exchange Commission.

    The Company cautions readers not to place undue reliance on any forward-looking statements. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to the Company. The Company does not undertake and specifically disclaims any obligation to revise any forward-looking statements included in this report or the reasons why actual results could differ from those contained in such statements, whether as a result of new information or to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. These risks could cause our actual results for fiscal 2025 and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of, us and could negatively affect the Company’s consolidated financial condition and consolidated results of operations as well as its stock price performance.

    RIVERVIEW BANCORP, INC. AND SUBSIDIARY              
    Consolidated Balance Sheets              
                   
                   
    (In thousands, except share data) (Unaudited) March 31, 2025   December 31, 2024   March 31, 2024    
    ASSETS              
                   
    Cash (including interest-earning accounts of $14,375, $12,573, $ 29,414     $ 25,348     $ 23,642      
    and $12,164)              
    Investment securities:              
    Available for sale, at estimated fair value   119,436       124,874       143,196      
    Held to maturity, at amortized cost   203,079       212,295       229,510      
    Loans receivable (net of allowance for credit losses of $15,374,              
    $15,352 and $15,364)   1,047,086       1,029,757       1,008,649      
    Prepaid expenses and other assets   12,523       12,945       14,469      
    Accrued interest receivable   4,525       4,639       4,415      
    Federal Home Loan Bank stock, at cost   4,342       4,742       4,927      
    Premises and equipment, net   22,304       22,731       21,718      
    Financing lease right-of-use assets   1,125       1,144       1,202      
    Deferred income taxes, net   8,625       9,471       9,778      
    Goodwill   27,076       27,076       27,076      
    Core deposit intangible, net   171       196       271      
    Bank owned life insurance   33,617       33,391       32,676      
                   
    TOTAL ASSETS $ 1,513,323     $ 1,508,609     $ 1,521,529      
                   
    LIABILITIES AND SHAREHOLDERS’ EQUITY              
                   
    LIABILITIES:              
    Deposits $ 1,232,328     $ 1,219,002     $ 1,231,679      
    Accrued expenses and other liabilities   14,777       17,634       16,205      
    Advance payments by borrowers for taxes and insurance   614       317       581      
    Junior subordinated debentures   27,091       27,069       27,004      
    Federal Home Loan Bank advances   76,400       84,200       88,304      
    Finance lease liability   2,099       2,117       2,168      
    Total liabilities   1,353,309       1,350,339       1,365,941      
                   
    SHAREHOLDERS’ EQUITY:              
    Serial preferred stock, $.01 par value; 250,000 authorized,              
    issued and outstanding, none   –       –       –      
    Common stock, $.01 par value; 50,000,000 authorized,              
    March 31, 2025 – 20,976,200 issued and outstanding;              
    December 31, 2024 – 21,134,758 issued and outstanding;   208       209       211      
    March 31, 2024 – 21,111,043 issued and outstanding;              
    Additional paid-in capital   53,392       54,227       55,005      
    Retained earnings   119,717       118,988       116,499      
    Accumulated other comprehensive loss   (13,303 )     (15,154 )     (16,127 )    
    Total shareholders’ equity   160,014       158,270       155,588      
                   
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,513,323     $ 1,508,609     $ 1,521,529      
                   
    RIVERVIEW BANCORP, INC. AND SUBSIDIARY              
    Consolidated Statements of Income              
      Three Months Ended   Twelve Months Ended  
    (In thousands, except share data) (Unaudited) March 31, 2025 Dec. 31, 2024 March 31, 2024   March 31, 2025 March 31, 2024  
    INTEREST INCOME:              
    Interest and fees on loans receivable $ 12,685 $ 13,201 $ 11,743     $ 50,621 $ 46,031    
    Interest on investment securities – taxable   1,484   1,589   2,145       6,918   8,971    
    Interest on investment securities – nontaxable   64   65   65       260   261    
    Other interest and dividends   261   272   338       1,163   1,292    
    Total interest and dividend income   14,494   15,127   14,291       58,962   56,555    
                   
    INTEREST EXPENSE:              
    Interest on deposits   3,910   4,101   3,021       15,313   8,285    
    Interest on borrowings   1,391   1,638   2,718       7,305   10,184    
    Total interest expense   5,301   5,739   5,739       22,618   18,469    
    Net interest income   9,193   9,388   8,552       36,344   38,086    
    Provision for credit losses   –   –   –       100   –    
                   
    Net interest income after provision for credit losses   9,193   9,388   8,552       36,244   38,086    
                   
    NON-INTEREST INCOME:              
    Fees and service charges   1,446   1,492   1,398       6,002   6,269    
    Asset management fees   1,472   1,443   1,408       5,906   5,328    
    Bank owned life insurance (“BOLI”)   226   225   222       941   891    
    BOLI death benefit in excess of cash surrender value   261   –   –       261   –    
    Loss on sale of investment securities   –   –   (2,729 )     –   (2,729 )  
    Other, net   302   181   195       1,146   483    
    Total non-interest income, net   3,707   3,341   494       14,256   10,242    
                   
    NON-INTEREST EXPENSE:              
    Salaries and employee benefits   6,763   6,471   6,225       26,099   24,204    
    Occupancy and depreciation   1,873   1,871   1,942       7,560   6,872    
    Data processing   746   743   686       2,948   2,782    
    Amortization of core deposit intangible   25   25   27       100   108    
    Advertising and marketing   284   317   326       1,278   1,276    
    FDIC insurance premium   170   174   178       688   708    
    State and local taxes   265   327   196       1,042   1,010    
    Telecommunications   62   54   50       215   211    
    Professional fees   577   429   414       1,800   1,375    
    Other   673   743   3,065       2,532   5,181    
    Total non-interest expense   11,438   11,154   13,109       44,262   43,727    
                   
    INCOME (LOSS) BEFORE INCOME TAXES   1,462   1,575   (4,063 )     6,238   4,601    
    PROVISION (CREDIT) FOR INCOME TAXES   314   343   (1,095 )     1,335   802    
    NET INCOME (LOSS) $ 1,148 $ 1,232 $ (2,968 )   $ 4,903 $ 3,799    
                   
    Earnings (loss) per common share:              
    Basic $ 0.05 $ 0.06 $ (0.14 )   $ 0.23 $ 0.18    
    Diluted $ 0.05 $ 0.06 $ (0.14 )   $ 0.23 $ 0.18    
    Weighted average number of common shares outstanding:              
    Basic   21,007,294   21,037,246   21,111,043       21,063,467   21,137,976    
    Diluted   21,007,294   21,037,246   21,111,043       21,063,467   21,139,322    
                   
                           
    (Dollars in thousands)   At or for the three months ended   At or for the twelve months ended  
        March 31, 2025   Dec. 31, 2024   March 31, 2024   March 31, 2025   March 31, 2024  
    AVERAGE BALANCES                      
    Average interest–earning assets   $ 1,412,406     $ 1,436,130     $ 1,484,628     $ 1,433,071   $ 1,492,002  
    Average interest-bearing liabilities     1,011,116       1,019,265       1,047,712       1,010,592     1,028,042  
    Net average earning assets     401,290       416,865       436,916       422,479     463,960  
    Average loans     1,047,718       1,053,342       1,020,457       1,044,370     1,011,420  
    Average deposits     1,219,130       1,232,450       1,210,818       1,220,120     1,229,011  
    Average equity     159,766       160,532       158,776       158,570     156,137  
    Average tangible equity (non-GAAP)     132,506       133,245       131,413       131,271     128,733  
                           
                           
    ASSET QUALITY   March 31, 2025   Dec. 31, 2024   March 31, 2024          
                           
    Non-performing loans   $ 155     $ 469     $ 178            
    Non-performing loans excluding SBA Government Guarantee (non-GAAP)     155       168       173            
    Non-performing loans to total loans     0.01 %     0.04 %     0.02 %          
    Non-performing loans to total loans excluding SBA Government Guarantee (non-GAAP)     0.01 %     0.02 %     0.02 %          
    Real estate/repossessed assets owned   $ –     $ –     $ –            
    Non-performing assets   $ 155     $ 469     $ 178            
    Non-performing assets excluding SBA Government Guarantee (non-GAAP)     155       168       173            
    Non-performing assets to total assets     0.01 %     0.03 %     0.01 %          
    Non-performing assets to total assets excluding SBA Government Guarantee (non-GAAP)     0.01 %     0.01 %     0.01 %          
    Net loan charge-offs (recoveries) in the quarter   $ (22 )   $ 114     $ (3 )          
    Net charge-offs (recoveries) in the quarter/average net loans     (0.01 )%     0.04 %     0.00 %          
                           
    Allowance for credit losses   $ 15,374     $ 15,352     $ 15,364            
    Average interest-earning assets to average                      
    interest-bearing liabilities     139.69 %     140.90 %     141.70 %          
    Allowance for credit losses to                      
    non-performing loans     9918.71 %     3273.35 %     8631.46 %          
    Allowance for credit losses to total loans     1.45 %     1.47 %     1.50 %          
    Shareholders’ equity to assets     10.57 %     10.49 %     10.23 %          
                           
                           
    CAPITAL RATIOS                      
    Total capital (to risk weighted assets)     16.27 %     16.47 %     16.32 %          
    Tier 1 capital (to risk weighted assets)     15.01 %     15.21 %     15.06 %          
    Common equity tier 1 (to risk weighted assets)     15.01 %     15.21 %     15.06 %          
    Tier 1 capital (to average tangible assets)     11.10 %     10.86 %     10.29 %          
    Tangible common equity (to average tangible assets) (non-GAAP)     8.93 %     8.84 %     8.58 %          
                           
                           
    DEPOSIT MIX   March 31, 2025   Dec. 31, 2024   March 31, 2024          
                           
    Interest checking   $ 285,035     $ 257,975     $ 289,824            
    Regular savings     168,287       169,181       192,638            
    Money market deposit accounts     236,044       236,912       209,164            
    Non-interest checking     315,503       312,839       349,081            
    Certificates of deposit     227,459       242,095       190,972            
    Total deposits   $ 1,232,328     $ 1,219,002     $ 1,231,679            
                           
                       
    COMPOSITION OF COMMERCIAL AND CONSTRUCTION LOANS          
                       
            Other       Commercial  
        Commercial   Real Estate   Real Estate   & Construction  
        Business   Mortgage   Construction   Total  
    March 31, 2025   (Dollars in thousands)  
    Commercial business   $ 232,935   $ –   $ –   $ 232,935  
    Commercial construction     –     –     18,368     18,368  
    Office buildings     –     110,949     –     110,949  
    Warehouse/industrial     –     114,925     –     114,925  
    Retail/shopping centers/strip malls     –     88,815     –     88,815  
    Assisted living facilities     –     358     –     358  
    Single purpose facilities     –     277,137     –     277,137  
    Land     –     4,610     –     4,610  
    Multi-family     –     91,452     –     91,452  
    One-to-four family construction     –     –     10,814     10,814  
    Total   $ 232,935   $ 688,246   $ 29,182   $ 950,363  
                       
    March 31, 2024   (Dollars in thousands)  
    Commercial business   $ 229,404   $ –   $ –   $ 229,404  
    Commercial construction     –     –     20,388     20,388  
    Office buildings     –     114,714     –     114,714  
    Warehouse/industrial     –     106,649     –     106,649  
    Retail/shopping centers/strip malls     –     89,448     –     89,448  
    Assisted living facilities     –     378     –     378  
    Single purpose facilities     –     272,313     –     272,313  
    Land     –     5,692     –     5,692  
    Multi-family     –     70,771     –     70,771  
    One-to-four family construction     –     –     16,150     16,150  
    Total   $ 229,404   $ 659,965   $ 36,538   $ 925,907  
                       
                       
                       
                       
    LOAN MIX   March 31, 2025   Dec. 31, 2024   March 31, 2024      
    Commercial and construction   (Dollars in thousands)    
    Commercial business   $ 232,935   $ 224,506   $ 229,404      
    Other real estate mortgage     688,246     657,380     659,965      
    Real estate construction     29,182     49,956     36,538      
    Total commercial and construction     950,363     931,842     925,907      
    Consumer                  
    Real estate one-to-four family     97,683     97,760     96,366      
    Other installment     14,414     15,507     1,740      
    Total consumer     112,097     113,267     98,106      
                       
    Total loans     1,062,460     1,045,109     1,024,013      
                       
    Less:                  
    Allowance for credit losses     15,374     15,352     15,364      
    Loans receivable, net   $ 1,047,086   $ 1,029,757   $ 1,008,649      
                       
                       
    DETAIL OF NON-PERFORMING ASSETS                
        Southwest              
        Washington   Total          
    March 31, 2025   (Dollars in thousands)          
    Commercial business   $ 37   $ 37          
    Commercial real estate     88     88          
    Consumer     30     30          
    Total non-performing assets   $ 155   $ 155          
                       
                         
      At or for the three months ended   At or for the twelve months ended  
    SELECTED OPERATING DATA March 31, 2025   Dec. 31, 2024   March 31, 2024   March 31, 2025   March 31, 2024  
                         
    Efficiency ratio (4)   88.67 %     87.63 %     144.91 %     87.47 %     90.48 %  
    Coverage ratio (6)   80.37 %     84.17 %     65.24 %     82.11 %     87.10 %  
    Return on average assets (1)   0.31 %     0.32 %     (0.76 )%     0.32 %     0.24 %  
    Return on average equity (1)   2.91 %     3.04 %     (7.52 )%     3.09 %     2.43 %  
    Return on average tangible equity (1) (non-GAAP)   3.51 %     3.67 %     (9.08 )%     3.74 %     2.95 %  
                         
    NET INTEREST SPREAD                    
    Yield on loans   4.91 %     4.97 %     4.63 %     4.85 %     4.55 %  
    Yield on investment securities   1.84 %     1.82 %     2.02 %     1.96 %     2.02 %  
    Total yield on interest-earning assets   4.17 %     4.18 %     3.88 %     4.12 %     3.80 %  
                         
    Cost of interest-bearing deposits   1.76 %     1.81 %     1.41 %     1.74 %     0.97 %  
    Cost of FHLB advances and other borrowings   5.21 %     5.43 %     5.87 %     5.70 %     5.80 %  
    Total cost of interest-bearing liabilities   2.13 %     2.23 %     2.20 %     2.24 %     1.80 %  
                         
    Spread (7)   2.04 %     1.95 %     1.68 %     1.88 %     2.00 %  
    Net interest margin   2.65 %     2.60 %     2.32 %     2.54 %     2.56 %  
                         
    PER SHARE DATA                    
    Basic earnings (loss) per share (2) $ 0.05     $ 0.06     $ (0.14 )   $ 0.23     $ 0.18    
    Diluted earnings (loss) per share (3)   0.05       0.06       (0.14 )     0.23       0.18    
    Book value per share (5)   7.63       7.49       7.37       7.63       7.37    
    Tangible book value per share (5) (non-GAAP)   6.33       6.20       6.07       6.33       6.07    
    Market price per share:                    
    High for the period $ 5.75     $ 5.88     $ 6.40     $ 5.88     $ 6.48    
    Low for the period   5.08       4.59       4.53       3.64       4.17    
    Close for period end   5.65       5.74       4.72       5.65       4.72    
    Cash dividends declared per share   0.0200       0.0200       0.0600       0.0800       0.2400    
                         
    Average number of shares outstanding:                    
    Basic (2)   21,007,294       21,037,246       21,111,043       21,063,467       21,137,976    
    Diluted (3)   21,007,294       21,037,246       21,111,043       21,063,467       21,139,322    
                         

    (1) Amounts for the periods shown are annualized.
    (2) Amounts exclude ESOP shares not committed to be released.
    (3) Amounts exclude ESOP shares not committed to be released and include common stock equivalents.
    (4) Non-interest expense divided by net interest income and non-interest income.
    (5) Amounts calculated based on shareholders’ equity and include ESOP shares not committed to be released.
    (6) Net interest income divided by non-interest expense.
    (7) Yield on interest-earning assets less cost of funds on interest-bearing liabilities.

    Contacts: Nicole Sherman
    David Lam
    Riverview Bancorp, Inc. 360-693-6650

    The MIL Network –

  • MIL-OSI: Vodafone Business and Fortinet Expand Global Partnership to Secure Hybrid Work

    Source: GlobeNewswire (MIL-OSI)

    • Vodafone Business expands its converged networking and cybersecurity services powered by the Fortinet Unified SASE solution to new global markets.
    • Vodafone Business has been also designated “Fortinet Global Partner” due to its expertise in designing, deploying, and managing secure connected enterprise solutions globally.

    LONDON and SUNNYVALE, Calif., April 29, 2025 (GLOBE NEWSWIRE) —

    News Summary

    Vodafone Business and Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced an expanded global partnership, extending the reach of their converged networking and cybersecurity services to additional countries across Europe and Asia, as well as the United States. Together, the two companies are helping businesses deliver on the connectivity needs of today’s hybrid workforce and confront the growing volume and sophistication of cyberthreats by converging networking and security into a single, seamless service.

    Large and medium-sized enterprises in Germany and in other European markets as well as multinational businesses served through Vodafone Business International can now benefit from Vodafone Business Secure Networking Services.

    These services integrate Fortinet’s industry-leading software-defined wide area network (SD-WAN) and FortiSASE cloud-based security solutions to help organizations secure their networks. They provide employees with the same secure, reliable access to their work applications regardless of their location all with a single view across network health visibility, performance dashboards, and customizable reports. With connectivity across 192 countries, Vodafone Business offers the scale and reach needed to support secure digital transformation worldwide.

    Today’s announcement, with Vodafone Business attaining the “Fortinet Global Partner” status, underscores both companies’ commitment to supporting regional and international organizations across their IT and operational technology (OT) environments. The value proposition also helps enterprises in meeting cybersecurity compliance standards and requirements.

    This milestone comes amid a surge in cybersecurity incidences, including malware, data breaches, and social engineering, which rose significantly in the European Union in the first half of 2024, according to the European Union Agency for Cybersecurity (ENISA).

    Marika Auramo, CEO of Vodafone Business, said: “Cybersecurity is an increasing concern for our customers both in-country and cross-border. The breadth and depth of our global partnership with Fortinet means we can provide customers with the benefits of new digital connectivity to more places whilst ensuring that their digital assets, employees, partners and users are protected.”

    Joe Sarno, Executive Vice President, International Sales, Fortinet added: “As organizations digitize and scale across borders, secure connectivity is no longer optional—it’s essential. Our expanded partnership with Vodafone enables us to deliver unified SASE solutions that combine advanced security with exceptional performance so enterprises can confidently connect users, devices, and apps anywhere in the world.”

    Under the Vodafone Business and Fortinet partnership, businesses can purchase integrated services tailored to their needs and supported by Vodafone Business cybersecurity and managed network service experts. Customers can choose from four management options, including 24×7, co-managed network and security, various service-level guarantees, and professional services, including service discovery, design, implementation, and training.

    By combining their global reach and deep security expertise, Vodafone Business and Fortinet empower companies to detect and respond to threats swiftly, reducing risk while protecting operations and customer trust.

    Notes to Editors
    Vodafone Business and Fortinet will work together to further enhance sovereign compliant network operations center (NOC) and secure operations center (SOC) services. Vodafone Business recently opened a cybersecurity center in Düsseldorf, Germany, which will be home to more than 100 cybersecurity experts to help protect enterprise customers of all sizes from online threats.

    Increased automation and AI networking experiences as part of Vodafone Business Network-as-a-Service (NaaS) Platform is another area of focus for Vodafone Business and Fortinet. NaaS meets customer digital transformation needs by bringing together Vodafone’s software-based connectivity products and services, including SD-WAN, SASE/SSE, and Wireless and Fixed Internet Transport Services. It gives customers, or Vodafone Business managed services teams on their behalf, greater flexibility to buy, configure, and manage services to meet their specific dynamic business and AI application demands.

    Vodafone Business Secure Networking offers organizations several future-proofed managed solutions connecting their users, devices, and machinery. They are:    

    • Vodafone Business Secure Firewall with Fortinet delivers a comprehensive managed security service to set up, operate, run, manage, and maintain customer firewalls in a highly secure manner.
    • Vodafone Business Secure SD-WAN with Fortinet, which is ideal for organizations that need to ensure that their operations meet security and compliance regulation, and who need a secure, reliable, and agile network as they embrace the advantages of moving workloads to the cloud. 
    • Vodafone Business FortiSASE is aimed at customers looking to adopt flexible, robust, and secure hybrid work.

    More information around the partnership and Vodafone Business’ offerings can be found here. 

    Contact details

    About Vodafone Group
    everyone.connected

    Vodafone is a leading European and African telecoms company. We provide mobile and fixed services to over 340 million customers in 15 countries, partner with mobile networks in over 45 more and have one of the world’s largest IoT platforms. In Africa, our financial technology businesses serve almost 83 million customers across seven countries – managing more transactions than any other provider.

    Our purpose is to connect for a better future by using technology to improve lives, businesses and help progress inclusive sustainable societies. We are committed to reducing our environmental impact to reach net zero emissions by 2040.

    For more information, please visit www.vodafone.com follow us on X at @VodafoneGroup or connect with us on LinkedIn at http://www.linkedin.com/company/vodafone.

    About Fortinet
    Fortinet (Nasdaq: FTNT) is a driving force in the evolution of cybersecurity and the convergence of networking and security. Our mission is to secure people, devices, and data everywhere, and today we deliver cybersecurity everywhere our customers need it with the largest integrated portfolio of over 50 enterprise-grade products. Well over half a million customers trust Fortinet’s solutions, which are among the most deployed, most patented, and most validated in the industry. The Fortinet Training Institute, one of the largest and broadest training programs in the industry, is dedicated to making cybersecurity training and new career opportunities available to everyone. Collaboration with esteemed organizations from both the public and private sectors, including Computer Emergency Response Teams (“CERTS”), government entities, and academia, is a fundamental aspect of Fortinet’s commitment to enhance cyber resilience globally. FortiGuard Labs, Fortinet’s elite threat intelligence and research organization, develops and utilizes leading-edge machine learning and AI technologies to provide customers with timely and consistently top-rated protection and actionable threat intelligence. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs. 

    Copyright © 2025 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAgent, FortiAI, FortiAIOps, FortiAgent, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiCNP, FortiConnect, FortiController, FortiConverter, FortiCSPM, FortiCWP, FortiDAST, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiDLP, FortiEdge, FortiEDR, FortiEndpoint FortiExplorer, FortiExtender, FortiFirewall, FortiFlex FortiFone, FortiGSLB, FortiGuest, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMonitor, FortiNAC, FortiNDR, FortiPAM, FortiPenTest, FortiPhish, FortiPoint, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiScanner, FortiSDNConnector, FortiSEC, FortiSIEM, FortiSMS, FortiSOAR, FortiSRA, FortiStack, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM, FortiXDR and Lacework FortiCNAPP. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments. 

    The MIL Network –

  • MIL-OSI: Administrative Agreement Concluded with the Bank of Lithuania

    Source: GlobeNewswire (MIL-OSI)

    UAB Urbo Bankas („Bank“), company code 112027077, address: Konstitucijos pr.18B, Vilnius.

    The Bank of Lithuania (BL) conducted a targeted scheduled inspection to assess the Bank’s compliance with anti-money laundering and counter-terrorist financing (AML/CTF) prevention requirements. The inspection revealed violations and deficiencies.

    The Bank acknowledged the identified violations, submitted a remediation plan, and committed to addressing all legal violations and operational shortcomings identified during the inspection. The Bank also informs that a significant portion of the deficiencies identified by BL have already been remedied, and actions to strengthen AML/CTF prevention procedures are ongoing.

    In view of this, the BL accepted the Bank’s proposal to enter into an administrative agreement and imposed the following measures:

    • A warning was issued for deficiencies in internal control procedures related to the roles and responsibilities of the Bank’s departments, conflict of interest management, and informing management about relevant AML/CTF risks;
    • A fine of EUR 290,000 was imposed for violations and deficiencies related to determining the purpose and intended nature of business relationships with clients, the nature of clients’ activities, enhanced due diligence, and procedures and measures for monitoring business relationships and transactions.

    It is emphasized that the Bank has not identified any cases where the deficiencies noted by BL had an impact on its clients or where the Bank was used for AML/CTF purposes.

    More information: Mr. Igor Kovalčuk, Member of the Board, Director of Legal and Compliance Service, Deputy Head of Administration. Phone: + 370 686 34122, email: igor.kovalcuk@urbo.lt

    The MIL Network –

  • MIL-OSI Global: My Cypriot grandfather was one of millions of foreign servicemen who fought for Britain. Now I’m telling their stories

    Source: The Conversation – UK – By Christiana Gregoriou, Professor in English Language and Stylistics, University of Leeds

    The second world war veteran community is far more ethnically diverse than many people realise, with over 3 million foreign servicemen serving with the British armed forces during the conflict.

    Second world war memoirs are vital records of how these servicemen remembered the war. They offer insights into their relationship to trauma and resilience and their search for meaning in life.

    May 8 2025 is the 80th anniversary of VE Day. As we mark it, it’s important that we celebrate this ethnic diversity and highlight how much this community’s memoirs can teach us about the joy of making sense and finding lessons, however challenging life may be.

    My research into second world war memoirs uses original archival materials including the memoir of my grandfather, Cypriot sergeant Phylactis Aristokleous (British Army). He was a prisoner of war (PoW) and one of the thousands of colonised Cypriots who volunteered to serve in the army’s Cyprus regiment at the time.

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    My colleague George Rodosthenous is currently adapting my grandfather’s memoir into a theatrical monologue. It will form the basis of a lecture-performance which will tour Yorkshire heritage sites in May as part of a week commemorating VE Day. All are welcome to attend.

    Though his story is one of deprivation and difficulty, Aristokleous’ war experience was also one he took huge pride in. He believed his time had been beneficial and felt a strong need to share his story with others.

    Memoirists are narrators of the history they bore witness to. Though their stories appear to be individual and personal, they are in constant dialogue with their readers, and with each other, informed by experience that is rich, historic and detailed.

    The stories in these memoirs are part of a web of experiences shared with and influenced by others. Read collectively, a culturally dominant story emerges of survival and determination.

    The war experience

    My grandfather believed that serving in the allied forces and writing about his experiences in his memoir shaped the rest of his life. He claimed that his war experiences determined his outlook and prepared him for the life he led after service. All the while, he was aware that his time had also split his sense of self into parts – some of which he left “behind”.

    Even though this positivity might well be more of a feature of his character rather than the war experience itself, it is nevertheless telling. Aristokleous selected many individual incidents to write about, and my analysis of his memoir focuses on them. He acknowledged that only some of them were incidents he had witnessed firsthand; the rest were stories that others had shared with him.

    The authenticity of the stories he shared tended to be driven by his belief that collectively, and in the war specifically, groups of people from the same nations behaved in the same sort of way.

    In one instance, for example, he accepted the authenticity of a story about Australians being courageous only on the basis of him witnessing a random Australian being courageous at a different point in time entirely. The story concerned two Australians who – after killing a German guard – shot each other so they would not be arrested. He believed this story because of an incident he witnessed himself – an Australian PoW who avenged the killing of an innocent British PoW by killing the German guard responsible, only to then be killed himself.

    Even though my grandfather’s stories were compellingly told and retold over the course of several decades, writing them down helped him organise and conceptualise them into a narrative life-story. In so doing, he added unlikely connections between incidents across his life and PoW journey. He made sense of incidents that happened at one point in place and time by linking them to another place and time entirely.

    In one chapter, for example, he talked about winning bread in a raffle, a moment he linked back to having previously asked God for forgiveness for having given a hungry British sergeant dry biscuits that were not his to give away. He deemed his winning a response to prayer.

    He also drew on analogies for the prisoner experience found in the natural world, which speaks to his dehumanisation during that time. There’s the story of a prisoner’s pet-crow, Jack, for example, who hid cheese the PoWs gave him in the snow for when he needed it. From this, he suggested that the PoWs needed to do the same themselves. These connections helped him to construct sense and rationale around what he went through, and even find closure and catharsis.

    Analysis of his many anecdotes also reveals a tendency to dissociate, by using “we” instead of “I”, for instance. He also distanced himself from what was happening by using direct quotes from others in mostly foreign languages. This lends his stories an air of authenticity.

    The memoir also uses proverbs specific to his Greek Cypriot culture. This enabled him to find another purpose to his stories – to turn them into life lessons for others, particularly his own children and grandchildren.

    An enduring legacy

    Most of the second world war veteran community is no longer with us. But their experience in the form of memoirs is, and so is the enduring legacy they left behind.

    The most cynical of us may argue that life is chaotic, futile and devoid of meaning, but what these memoirs, and my grandfather, may teach us is that we can craft ourselves a narrative to help make sense of it.

    Perhaps most importantly, this multicultural veteran community serves as a powerful reminder that, despite the global conflict they endured, it was through diverse nations uniting across ethnic lines, that they were able to defend their freedom, lives and livelihoods from those who sought to destroy them.

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

    – ref. My Cypriot grandfather was one of millions of foreign servicemen who fought for Britain. Now I’m telling their stories – https://theconversation.com/my-cypriot-grandfather-was-one-of-millions-of-foreign-servicemen-who-fought-for-britain-now-im-telling-their-stories-252697

    MIL OSI – Global Reports –

  • MIL-OSI Global: Co-working spaces aren’t just about convenience – they bring a whole range of benefits for employees and communities

    Source: The Conversation – UK – By Mariachiara Barzotto, Senior Lecturer in Management Strategy and Organisation, University of Bath

    Master1305/Shutterstock

    When you think of co-working spaces – where workers from different industries come together to share a convenient workplace – you might picture a group of young freelancers hunched over laptops. But today’s co-working spaces have evolved into something more powerful – particularly in a world still reshuffling office work practices in the wake of the COVID pandemic.

    As workplaces adapt to new ways of operating, from hybrid to “digital nomadism”, co-working spaces can do more than simply offer flexibility. They can support workers’ wellbeing and work–life balance by enhancing a sense of community, building trust and new friendships, and encouraging continuous learning.

    Research I undertook with colleagues shows these spaces may also play a role in addressing societal challenges. They can provide support for workers with family or caring responsibilities and enhance digital connectivity in under-served areas by offering faster, stable internet access. They can also encourage knowledge-sharing around new technology – while reducing the need for long commutes, which brings environmental benefits.

    Other research shows that co-working staff tend to report higher levels of job satisfaction and wellbeing, particularly compared with those working at home. There are various reasons for this.

    The ability to choose how and where to work, to exchange knowledge with others on-site, and to avoid long commutes all contribute to better mental health, happiness and wellbeing.

    Productivity can also be boosted by, for example, the social support and interactions encouraged by open architecture and flexible workstations, as well as by a workplace that is much closer to home.

    Some co-working spaces have gone a step further, integrating childcare, wellness programmes and even care for older dependants. One example is COWORCare, a European initiative linking co-working spaces with family support such as kindergartens and elderly-care services. This helps parents (especially mothers) participate more fully in the labour market.

    Workers often need to update their skills to stay competitive. While informal learning happens in traditional offices too, co-working spaces can offer advantages by connecting professionals, entrepreneurs and freelancers across industries. This encourages knowledge-sharing between sectors.

    Many also host training sessions, workshops and networking events, making it easier to develop skills than when working from home or in more homogeneous office settings.

    Some of these spaces also create opportunities, both formal and informal, for young people to learn from more skilled and experienced workers. They can also help youngsters who are not in education, employment or training (NEET) into the workforce.

    This all matters because the shift to greener and more digital economies – known as the “twin transition” – is creating both opportunities and risks. Many workers, especially in rural and older populations, could be left behind without access to training or digital infrastructure. Co-working spaces specifically for older people are ideally placed to address this.

    Such spaces can act as “infrastructures of care” by helping workers feel like part of a community. Perhaps one of the most underrated benefits of co-working is how it can combat loneliness and boost morale for staff who might otherwise be working from home or face a long commute to their employer’s office.

    Remote working can be lonely – and people in the early stages of their career can miss out on chances to learn from more experienced workers.
    fizkes/Shutterstock

    During the pandemic, many people realised how much they missed casual chats and social interaction. Co-working can bring that back – even for remote workers. In fact, co-working spaces can create the kind of “light-touch” community that encourages inclusion without being overwhelming.

    Left-behind places

    Co-working isn’t just for buzzing city centres. Some of the most exciting developments are happening in small towns and rural areas.

    Governments across Europe are supporting this shift. Ireland’s Connected Hubs scheme has built a national network of remote-working hubs, aiming to revitalise rural communities and reduce the urban-rural divide.

    These hubs can provide better internet than workers may have at home, and keep talented young people in the region. They can also spark local entrepreneurship, especially when paired with funding and mentoring. For example, the Youth Re-Working Rural project across Norway, Italy, Spain, Greece, Latvia and Slovenia supports youth and creative industries through co-working and digital training.

    But these spaces aren’t a silver bullet. Our research also shows they are most effective when public investment simultaneously targets specific areas.

    This could be extending high-speed broadband to rural areas, improving transport connections and providing vocational and digital skills training. Policies that support back-to-work programmes – for example, mentoring for unemployed people, parents returning after career breaks, or those who have lost jobs reintegrating into the labour market – are crucial, alongside access to affordable housing.

    Co-working spaces can be part of the solution to making work better – not just more convenient and efficient, but more human. They can improve wellbeing, encourage new skills, and bring life back into places that have been left behind after traditional local industries declined.

    Rethinking the future of work in the face of multiple transitions – digital, green and demographic – means also thinking about the kind of spaces that make learning, connection and wellbeing possible.

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

    – ref. Co-working spaces aren’t just about convenience – they bring a whole range of benefits for employees and communities – https://theconversation.com/co-working-spaces-arent-just-about-convenience-they-bring-a-whole-range-of-benefits-for-employees-and-communities-255281

    MIL OSI – Global Reports –

  • MIL-OSI Global: No whistleblower is an island – why networks of allies are key to exposing corruption

    Source: The Conversation – USA – By Kate Kenny, Professor of Business and Society, University of Galway

    Facebook whistleblower Frances Haugen speaks at a conference in 2022. Kimberly White/Getty Images for SumOfUs

    Whistleblowers – people who expose wrongdoing within their organizations – play a crucial role in holding governments and corporations accountable. But speaking up can come at a cost. People who report misconduct often face retaliation, job loss or legal threats, making whistleblowing risky and challenging. And when legal protections for whistleblowers are weakened, the risks only grow.

    That’s exactly the situation many workers face today.

    In the U.S., a Trump administration executive order threatens to effectively strip thousands of federal workers’ rights to whistleblower protection. The executive order is part of a larger effort to reclassify civil servants as “at-will” workers who can be sacked at any time for any reason. While federal workers have enjoyed protection against whistleblower reprisal for decades, those safeguards are now under threat. And this comes as private-sector whistleblowers have increasingly faced reprisal, too.

    Yet while the risks are real, whistleblowing isn’t impossible. Indeed, after researching whistleblowing for over 10 years, I’ve observed that insiders who successfully sound the alarm often do so with help − by partnering with allies who can amplify their message and help shield them from retaliation.

    Meet the ‘regulators of last resort’

    My new book, “Regulators of Last Resort: Whistleblowers, the Limits of the Law and the Power of Partnerships,” tells the stories of whistleblowers from Facebook, Amazon, Theranos, U.S. Immigration and Customs Enforcement detention centers and Ireland’s public electricity service. In each case, the worker suffered reprisal and was aggressively silenced. In each case, they persisted, and allies emerged to help.

    For Facebook employee Frances Haugen, finding an ally meant teaming up with Wall Street Journal reporter Jeff Horwitz, a specialist in tech who had been writing about Facebook’s misdeeds for some time. When Haugen decided to go public about the social media platform’s knowing exploitation of teenagers and its awareness of the violence incited by poorly regulated non-English versions of its site, Horwitz was pivotal in orchestrating when and how the newspaper articles would appear, helping maximize their impact and granting Haugen control over how her story was told.

    This partnership was no accident; Haugen chose the reporter and tech expert carefully. “I auditioned Jeff for a while,” she later told a reporter. “One of the reasons I went with him is that he was less sensationalistic than other choices I could have made.”

    Indeed, many whistleblowers disclose with the wrong journalist, leaving themselves open to attack.

    At Theranos – a multibillion-dollar biotech company that turned out to be a fraud – a lawyer “friend of a friend” gave whistleblower Erika Cheung critical advice about disclosing to a regulator. This was a lifeline for the recent graduate, who feared for her career and safety after being threatened by bosses and lawyers and warned to stay silent and obey her nondisclosure agreement. Meanwhile, Cheung had no money for formal legal representation. It was that call to the lawyer that made all the difference, Cheung told me. “He said, ‘You can whistleblow.’”

    Her contact explained that if she disclosed to the Centers for Medicare & Medicaid Services, she could avail of whistleblower protection and break her NDA. She would have to do it right and focus on the details: to highlight Theranos’ “regulatory noncompliance” and demonstrate the firm was violating the rules for proficiency testing. But all it would require of Cheung was a simple email to the right organization.

    Finally, my research also detailed the many colleagues at Amazon who supported whistleblowing manager Chris Smalls in disclosing risks to life and health during the early days of the COVID-19 pandemic in New York. When Smalls was fired for speaking out and subject to racist language in internal memos about the incident that were later leaked, his close colleague Derrick Palmer described his response. “I was appalled,” Palmer said. “I just knew that they wanted to – pretty much – silence the whole effort. Anyone speaking out. That was how they were going to treat them, moving forward. Including myself.”

    Labor leader Chris Smalls speaks during a conference in Chicago, Ill., in 2022.
    Jeremy Hogan/SOPA Images/LightRocket via Getty Images

    This strengthened Palmer’s determination to help Smalls. Meanwhile, the leaked memo prompted letters of support and emails “from people from all over the country – Amazon workers, non-Amazon workers, that just want to help advocate as well,” as Smalls put it. In the days and weeks after, workers held demonstrations at Amazon facilities all across the U.S., with banners declaring solidarity with the New York warehouse whistleblowers.

    No whistleblower is an island

    These allies often go overlooked when the media focuses on whistleblowers. But their support is critical, particularly in an era when protections for workers who speak up are coming under increasing threat worldwide.

    Organizing whistleblowing allies involves strategy, and some nonprofit and civil society groups have become experts in this domain. Leading the way is the U.S. Government Accountability Project and its “information matchmaking” approach. The idea is simple: Whistleblowers need a whole team of other people – from experts to members of the public – on their side. And this takes planning.

    For years, lawyer-activists like those at the Government Accountability Project have been treating whistleblower protection and support efforts as holistic campaigns that entail a media operation and networking effort, as well as a legal defense.

    Take the example of Dawn Wooten, a former nurse at the Irwin County Detention Center – a U.S. Immigration and Customs Enforcement contractor – who encountered and disclosed medical misconduct and critical failures. Dana Gold at the Government Accountability Project supported her whistleblowing with other activists, enlisted civil society groups and politicians in the cause, helped land newspaper articles in The Guardian and The New York Times, and even arranged a New Yorker podcast in which Wooten told her story.

    The information went viral, and multiple investigations ensued. Within a year, the Department of Homeland Security directed ICE to formally end its contract with the Irwin County Detention Center, citing the revelations made public by Wooten and some of the detained women.

    None of this is straightforward. In most whistleblowing disputes, the organization holds the balance of power. It has the files, the witnesses and the money to pay good lawyers. I’ve found that whistleblower allies must work with whatever limited resources they can marshal to give themselves an advantage. This means engaging influential people who might help, including pro bono lawyers, specialists who can give evidence, concerned regulators and beat journalists. In short, what is necessary is experts across all domains who are interested in the story and willing to help. And it’s the collective effort that matters.

    Even with this support, however, whistleblowers don’t have it easy. In many high-profile cases where a disclosure is made public and a whistleblower is clearly vindicated and recognized as a courageous truth-teller, they can suffer afterward. Potential employers can balk at the prospect of hiring a whistleblower, even a celebrated one. And vindictive organizations can and do continue retaliating, even years after a story has dropped off the front pages.

    Whistleblower allies and their strategies don’t offer a magic bullet. But they can help tip the balance of power, bringing public opinion to bear on an employer bent on reprisal or a government intent on coddling the powerful.

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

    – ref. No whistleblower is an island – why networks of allies are key to exposing corruption – https://theconversation.com/no-whistleblower-is-an-island-why-networks-of-allies-are-key-to-exposing-corruption-250721

    MIL OSI – Global Reports –

  • MIL-OSI Global: Florida panthers and black bears need a literal path for survival – here’s how the Florida Wildlife Corridor provides it in one of the fastest-growing US states

    Source: The Conversation – USA – By Thomas Hoctor, Research Associate Professor of Landscape Architecture, University of Florida

    Florida panthers are a federally endangered species. Carlton Ward Jr./Wildpath

    Imagine a Florida panther slinking its way 400 miles (645 kilometers) from the Big Cypress Swamp, in the southwest part of the state, to Okefenokee Swamp, on Florida’s northern border with Georgia, without ever being spotted by a human.

    No one has yet documented a panther making this journey. But evidence suggests it happens.

    Florida panthers were once distributed throughout most of the southeast U.S., but now their number is tiny – maybe 200 or so – and their known breeding range has greatly shrunk, now concentrated in southwest Florida.

    They do show up in north Florida and Georgia on occasion when young males travel north looking to escape social pressure from adult males. Biologists have found their tracks not far south of Okefenokee. One panther made it almost to Atlanta before it was shot by a hunter.

    Large mammals such as the Florida panther and black bear literally need room to roam in order to hunt, breed and thrive. Such journeys across the state of Florida are possible thanks to the Florida Wildlife Corridor, a statewide system of interconnected wildlife habitat that turns 15 this year.

    The Florida Wildlife Corridor built on conservation efforts that date back to the 1980s and 1990s, when researchers from the University of Florida, including the two of us and our mentor Larry Harris, created maps of existing and proposed conservation areas that interlinked across the state.

    A family of Florida black bears scratches on a log in the dry season.
    Carlton Ward Jr./Wildpath

    Today, the Florida Wildlife Corridor spans 18 million acres – about half of the state.

    Ten million of these acres are protected from development. They are either local, state, regional or federal public conservation lands or they are private conservation easements. These easements restrict the landowners’ uses of the land to activities compatible with wildlife conservation, such as ranching, timber production and other sustainable activities.

    The other 8 million acres are the focus of state-funded land protection efforts to close the unprotected gaps. For now, these lands could be converted to intensive residential, commercial or industrial development.

    The corridor is an ambitious conservation project. It provides sufficient habitat to sustain healthy wildlife populations while also protecting Florida’s key ecosystem services, including water quality and flood storage. Ecosystem services refers to the benefits that ecosystems provide humans.

    The corridor is also a unique example of how conservationists can combine science with public education and outreach to protect important natural habitats – even in regions like Florida that face burgeoning population growth.

    Florida’s population boom

    Until the early 20th century, Florida was the most remote and undeveloped state on the East Coast.

    After World War II and the introduction of affordable home air conditioning, Florida transformed from a sleepy winter holiday destination to the third-most-populated state in the nation.

    Currently, about 300,000 new residents move to Florida each year.

    With this population growth came a rapid loss of natural habitat and rural landscapes. Using federal land use data, we calculate that approximately 60,000 acres of Florida habitat are lost each year.

    Florida’s development was initially concentrated along the coasts, especially in areas with extensive beaches. With the opening of tourist attractions such as Disney World near Orlando in 1971, central Florida also became a hub of rapid growth.

    It became clear to concerned Floridians that virtually all land not protected by permanent conservation designations could eventually be lost to urban and suburban sprawl.

    Responding to these concerns, Florida became a leader in land protection, which has generally been popular and bipartisan in the Sunshine State.

    Since the 1970s, Florida has protected millions of acres of conservation lands through programs including the Florida Preservation 2000 Act of 1990, the Florida Forever acquisition program that replaced it in 2001, and the Rural and Family Lands Protection Program, also created in 2001.

    The authors estimate that approximately 60,000 acres of Florida habitat are lost each year to development.
    Carlton Ward Jr./Wildpath

    Scientists identify key areas to protect

    Wildlife biologists since the 1930s have observed how birds and mammals use wooded fencerows, hedgerows, streamsides and other natural corridors to travel through agricultural regions in the U.S. and Canada.

    When corridors are protected, they allow animals to travel safely across landscapes and they can save animals from extinction. They also provide people with ecosystem services such as clean water and flood protection.

    Since 1995, the Florida Ecological Greenways Network, or FEGN, has identified a statewide system of large, intact natural areas and connecting green spaces. It is now part of the state-legislated Florida Greenways and Trails System, a statewide network of recreational trails and ecological corridors.

    As conservation scientists who are deeply involved with the FEGN, we were able to make use of the state’s early investment in geographic information systems. GIS produces digital maps and other high-quality data on the locations of wildlife habitat and other conservation priorities.

    The Florida Wildlife Corridor covers nearly 18 million acres of Florida. A little over half of the acres, pictured in dark green, are conserved lands while the rest, pictured in light green, are considered opportunity areas for future conservation.
    University of Florida Center for Landscape Conservation Planning

    We continue to work with state agencies and other partners to continually update the FEGN as land use changes and as better data and tools become available to identify conservation priority areas.

    Getting the public on board

    While the FEGN proved fundamental for supporting state conservation programs, it was not widely known by Floridians or visitors to the state.

    In 2010, conservation photographer Carlton Ward and colleagues proposed a simple, unified map and a public campaign to promote protection of the top-priority lands in the Florida Ecological Greenways Network.

    Ward called it the Florida Wildlife Corridor.

    He organized a team of photographers, videographers and scientists who trekked across large swaths of the corridor to document Florida’s natural ecosystems and native species that were threatened by development.

    The expeditioners highlighted species like the Florida panther, Florida black bear and Florida grasshopper sparrow. They raised awareness about the corridor’s connection to water conservation, lands managed by ranchers and foresters, and recreational opportunities. And they produced documentary films, media and social media coverage, and public talks and events to educate the public on the importance of protecting the corridor.

    Photographer Carlton Ward Jr. paddles to set up cameras at a site in the Fakahatchee Strand in southwest Florida.
    Carlton Ward Jr./Wildpath

    Bipartisan support continues

    In June 2021, Florida Gov. Ron DeSantis signed the Florida Wildlife Corridor Act into law. The legislation, which had unanimous support from the state Legislature, officially recognized the corridor’s critical role in Florida’s economy, cultural and natural heritage, and protection of imperiled species and ecosystems.

    The law also reenergized legislative support and funding to acquire land directly for conservation and to establish conservation easements on private lands.

    Ranchers with the Seminole Tribe of Florida steer cattle through wooden sorting pens at the Big Cypress Reservation in southern Florida.
    Carlton Ward Jr./Wildpath

    The 2025-2026 Florida budget, which is still under negotiation, earmarks US$300 million to $450 million for land protection programs.

    And on April 23, 2025, the Florida Senate passed a resolution to proclaim April 22 as Florida Wildlife Corridor Day. The resolution affirmed the corridor’s importance as “a unique natural resource” that is essential for “preserving the green infrastructure that is the foundation of this state’s economy and quality of life.”

    There is a lot of land protection work left to be done in a race against a burgeoning human population. But Florida has proved ready to implement science-based strategies and work with willing landowners to protect a statewide wildlife corridor as a key element of Florida’s future.

    The Florida Wildlife Corridor is also a potential model for other states and regions that want to protect viable wildlife populations and ecosystem services.

    Uplands and wetlands east of Fort Myers, in the core of Florida panther territory, are part of the Florida Wildlife Corridor.
    Carlton Ward Jr./Wildpath

    Thomas Hoctor receives funding from state government related to working on the science and planning associated with the Florida Wildlife Corridor.

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

    – ref. Florida panthers and black bears need a literal path for survival – here’s how the Florida Wildlife Corridor provides it in one of the fastest-growing US states – https://theconversation.com/florida-panthers-and-black-bears-need-a-literal-path-for-survival-heres-how-the-florida-wildlife-corridor-provides-it-in-one-of-the-fastest-growing-us-states-251790

    MIL OSI – Global Reports –

  • MIL-OSI Global: Almost Zion: Remembering a short-lived Jewish state in New York

    Source: The Conversation – USA – By Adam L. Rovner, Director of the Center for Judaic Studies, University of Denver

    Twin bridges spanning the Niagara River lead from Tonawanda to Grand Island, New York — the proposed site of ‘Ararat.’ Kevin Menschel/iStock via Getty Images Plus

    At dawn on Sept. 15, 1825, a burst of cannon fire shook the ramshackle buildings of Buffalo, New York. Families raced down the main street to witness a grand ceremony, following a parade of soldiers, clergymen, Freemasons, musicians and Seneca tribesmen, including their venerable chief, Red Jacket. All surged toward St. Paul’s Episcopal Church, the frontier town’s only grand edifice.

    Inside, a crowd of Christians, Jews and Native Americans were already packed together to witness the founding of Ararat, a tract of land on nearby Grand Island that was intended to be the first autonomous Jewish city-state in almost 1,800 years.

    Ararat’s 400-pound cornerstone, engraved with a central Jewish tenet of faith from the Bible’s Book of Deuteronomy, rested inside the church. When the swell of the organ died down, former diplomat, political power broker and playwright Mordecai Manuel Noah – the man who had dreamed up Ararat – rose to his feet.

    Today, this marker is one of the few surviving signs of the proposed settlement.
    Adam Rovner

    Described as a “stout … gentleman, with sandy hair, a large Roman nose, and … red whiskers,” Noah had draped himself for the ceremony in fur-trimmed robes borrowed from a theater. He triumphantly announced the reestablishment of “the Government of the Jewish Nation … under the auspices and protection of the constitution and laws of the United States of America.”

    Noah also welcomed Native Americans, whom he – like many Americans at the time – mistakenly believed were “the descendants of the lost tribes of Israel.” In addition, he granted equal “rights and religious privileges” to the “black Jews of India and Africa,” disclosing a rare-for-his-time sensitivity toward Jews of color.

    A portrait of Mordecai Noah by 19th-century painter John Wood Dodge.
    Smithsonian American Art Museum via Wikimedia Commons

    But Noah’s utopian ark sank with barely a trace. Not a single Jew heeded his call to settle Ararat. Noah himself abandoned ship when his calls for a Jewish republic were rebuffed by religious leaders. All that he left behind was the cornerstone.

    As a scholar who scours archives to trace connections between literature and history, I’ve seen how Noah’s efforts to found a Jewish statelet have fascinated students of both American and Zionist history.

    Noah was only the first of many modern thinkers to propose establishing Jewish territories far from the biblical land of Israel. In the 20th century, organizations seeking a humanitarian solution to Jewish persecution considered carving out enclaves the world over, including lands in today’s Kenya, Angola, Madagascar, Tasmania and Suriname.

    ‘City of refuge’

    Noah wielded considerable influence in early 19th-century America through his roles as a political party boss, helming various daily newspapers, and as a popular playwright. But he was also a marginalized outsider at a time when there were fewer than 500 Jews in Manhattan, the young republic’s largest city.

    Noah used his press pulpit to demand equality for Jews, even proposing himself as a presidential candidate. He remained one of few high-profile American Jews throughout his life, urging other citizens to acknowledge that one’s faith and patriotism need never be at odds. Yet antisemitic slurs dogged him throughout his career.

    After witnessing the persecution of Jews in Europe during his diplomatic travels, Noah hoped Ararat would be a territorial solution to religious oppression.

    ‘Noah’s Ark,’ by 19th-century American painter Edward Hicks.
    Philadelphia Museum of Art via Wikimedia Commons

    In some ways, his efforts hearkened back to the origins of America itself. Instead of the Mayflower, Noah invoked the symbolic ark of his biblical namesake – “Ararat” is the biblical name of the mountain where the ark came to a rest after the flood. In the role of the Puritans, he cast European Jewry. And instead of Plymouth Rock, he landed on Grand Island. As the cornerstone of Ararat proclaimed, the settlement was to be a “city of refuge for the Jews” – one that Noah hoped would grow to become a state and be admitted to the American republic.

    In his speeches, Noah imagined that Ararat would allow European Jews to escape persecution while simultaneously fulfilling America’s need for immigration, industry and financial capital. He also believed that his purchase of 2,555 acres of Grand Island would prove a lucrative personal investment: The recently completed Erie Canal, he reasoned, would make Buffalo a major port.

    Failure to launch

    At the time of Noah’s proposal, the Zionist movement – the modern political program for Jewish national self-determination – had not yet coalesced. Most Jews at the time believed that founding a Jewish state in the land of Israel was a pipe dream, or worse. God had expelled their ancestors from the Holy Land in 70 C.E., they believed, so taking matters into their own hands and rebuilding a Jewish state there would be blasphemy.

    Noah hoped to sidestep those theological objections by locating a Jewish polity in the promised land of America, not the biblical promised land. Nonetheless, Jewish leaders dismissed his vision as contrary to God’s will. The chief rabbis of England and France publicly condemned Noah’s plan, and the September 1825 ceremony in Buffalo proved Ararat’s high point.

    Though ridiculed in the press for Ararat’s failure, Noah took a philosophical view:

    I … stand as the pioneer of the great work, leaving others to complete it. … When sneers and mockery shall have had their day … then my motives and objects will have been duly estimated and rewarded.“

    The front page of one of Mordecai Noah’s books, published in 1819.
    Library of Congress via Wikimedia Commons

    Birth of Zionism

    Noah quickly resumed his career as a journalist and emerged as a kind of ambassador, penning articles and delivering speeches that linked Jewish and Christian America. To Christians, he explained Jewish practices. To his brethren, he demonstrated the fundamental compatibility between the ideals of Judaism and the United States, assuring them that America “is the country which the Almighty has blessed,” a land in which Jews “may repose in safety and happiness.”

    Yet Noah never abandoned his plans for Jewish self-government and ultimately advocated national repatriation to areas of Palestine, then under Ottoman control. In 1845 he published a short book, “Discourse on the Restoration of the Jews.” A young journalist whom he had befriended, Edgar Allan Poe, praised Noah’s proposal for a Jewish return to the biblical land of Israel as “extraordinary [and] full of novel and cogent thought.”

    Noah did not live to see his dreams fulfilled. After his death in March 1851, nearly 50 years passed before another playwright and journalist resurrected the idea of Jewish political autonomy: Theodor Herzl.

    Herzl’s vision laid the groundwork for the establishment of the state of Israel. Today, he is considered the father of Zionism, with his image paraded on Israeli Independence Day.

    Paradoxically, Noah is remembered today thanks only to the spectacular failure of his American Zion.

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

    – ref. Almost Zion: Remembering a short-lived Jewish state in New York – https://theconversation.com/almost-zion-remembering-a-short-lived-jewish-state-in-new-york-253534

    MIL OSI – Global Reports –

  • MIL-OSI Global: Whooping cough is making a comeback, but the vaccine provides powerful protection

    Source: The Conversation – USA – By Annette Regan, Adjunct Associate Professor of Epidemiology, University of California, Los Angeles

    Infants can get vaccinated against whooping cough starting at 6 weeks of age. Hill Street Studios/Corbis via Getty Images

    Whooping cough, a bacterial infection that can be especially dangerous for babies and young children, is on the rise. Already in 2025 the U.S. has recorded 8,485 cases. That’s compared with 4,266 cases during the same period in 2024.

    Like measles, which is also spreading at unprecedented levels, whooping cough, more formally known as pertussis, can be prevented by a safe
    and effective vaccine. But with anti-vaccine sentiment increasing and cuts to immunization services, vaccination rates for whooping cough over the past two years have declined in children.

    The Conversation asked epidemiologist Annette Regan to explain why pertussis has become so prevalent and how families can protect themselves from the disease.

    What is pertussis and why is it dangerous?

    Pertussis is a vaccine-preventable disease caused by the bacterium Bordetella pertussis. Researchers in France first identified the B. pertussis bacterium in 1906. The first recorded epidemic of pertussis is thought to have occurred in Paris in 1578.

    Infection can cause an acute respiratory illness characterized by severe and spasmodic coughing spells. The classic symptom of pertussis is a “whoop” sound caused by someone trying to breath during a bad cough. Severe complications of pertussis include slowed or stopped breathing, pneumonia and seizures. The disease is most severe in young babies, although severe cases and deaths can also occur in older children and adults.

    Some doctors call pertussis “the 100-day cough” because symptoms can linger for weeks or even months.

    The World Health Organization estimates that 24.1 million pertussis cases and 160,700 deaths occur worldwide in children under 5 each year. Pertussis is highly contagious. Upon exposure, 80% of people who have not been previously exposed to the bacterium or vaccinated against the disease will develop an infection.

    Fortunately, the disease is largely preventable with a safe and effective vaccine, which was first licensed in the U.S. in 1914.

    Whooping cough causes violent fits of coughing that can make it difficult to inhale.

    How do cases last year and this year compare with past years?

    During the COVID-19 pandemic between 2020 and 2022, pertussis cases were lower than usual. This may have been a result of limited social contact due to social distancing, masking, school closures and lockdown measures, which reduced the spread of disease overall.

    In the past two years, however, pertussis cases have surpassed figures from before the pandemic. In 2024, local and state public health agencies reported 35,435 pertussis cases to the Centers for Disease Control and Prevention – a rate five times higher than the 7,063 cases reported in 2023 and nearly double the 18,617 cases reported in 2019 prior to the pandemic.

    Between October 2024 and April 2025, at least four people in the U.S. have died of pertussis: two infants, one school-age child and one adult.

    Why are pertussis cases rising?

    Although vaccines have resulted in a dramatic decline in pertussis infections in the U.S., incidence of the disease has been rising since the 1990s, except for a brief dip during the COVID-19 pandemic.

    Before the start of routine childhood vaccination for pertussis in 1947, its rates hovered between 100,000 and 200,000 cases per year. With vaccines, rates plunged under 50,000 annually by the late 1950s and under 10,000 per year in the late 1960s. They reached a low of 1,010 cases in 1976.

    Starting in the 1980s and 1990s, however, the U.S. and several other countries have been seeing a steady resurgence of pertussis cases, which have exceeded 10,000 cases in the U.S. every year from 2003 to 2019. They dropped again during the pandemic until last year’s resurgence.

    There is no single explanation for why cases have been rising recently, but several factors probably contribute. First, pertussis naturally occurs in cyclic epidemics, peaking every two to five years. It is possible that the U.S. is headed into one of these peaks after a period of low activity between 2020 and 2022. However, some scientists have noted that the increase in cases is larger than what would be expected during a usual peak.

    A public health worker processes blood samples during a whooping cough outbreak in Ohio in December 2010.
    National Institute for Occupational Safety and Health

    Some scientists have noted that this apparent resurgence correlates with a change in the type of vaccine used in children. Until the 1990s, the pertussis vaccine contained whole, killed B. pertussis bacteria cells. Whole-cell vaccine can stimulate a long-lasting immune response, but it is also more likely to cause fever and other vaccine reactions in children.

    In the 1990s, national vaccine programs began to transition to a vaccine that contains purified components of the bacterial cell but not the whole cell. Some scientists now believe that although this partial-cell vaccine is less likely to cause high fevers in children, it provides protection for a shorter time. Immunity after whole-cell vaccination is thought to last 10-12 years compared with three to five years after the partial-cell vaccine. This means people may become susceptible to infection more quickly after vaccination.

    Vaccination rates are also not as high as they should be and have started falling in children since 2020. In the U.S., the percent of kindergartners who are up to date with recommended pertussis vaccines has declined from 95% during the 2019-20 school year to 92% in the 2023-24 school year. Even fewer adolescents receive a booster dose.

    How can people protect themselves and their families?

    Routine vaccination for children starting in infancy followed by booster doses in adolescents and adults can help keep immunity high.

    Public health experts recommend that children receive five doses of the pertussis vaccine. According to the recommendations, they should receive the first three doses at 2, 4 and 6 months of age, then two additional doses at 15 months and 4 years of age, with the aim of providing protection through early adolescence.

    Infants younger than 6 weeks are not old enough to get a pertussis vaccine but are at the greatest risk of severe illness from pertussis. Vaccination during pregnancy can offer protection from birth due to antibodies that pass from the mother to the developing fetus. Many countries, including the U.S., now recommend that women receive one dose of pertussis vaccine between the 27th and 36th week of every pregnancy to protect their babies.

    To maintain protection against pertussis after childhood, a booster dose of pertussis vaccine is recommended for adolescents at 11 to 12 years of age. The CDC recommends that all adults receive at least one booster dose.

    The pertussis vaccine’s protction wanes over time, so public health experts recommend a booster around age 11 or 12.
    SELF Magazine via flickr, CC BY

    Because immunity declines over time, people who are in contact with infants and other high-risk groups, such as caregivers, parents and grandparents, may benefit from additional booster doses. When feasible, the CDC also recommends a booster dose for adults 65 years and older.

    Vaccine safety studies over the past 80 years have proven the pertussis vaccine to be safe. Around 20% to 40% of vaccinated infants experience local reactions, such as pain, redness and swelling at the vaccination site, and 3% to 5% of vaccinated infants experience a low-grade fever. More severe reactions are much less common and occur in fewer than 1% of vaccinated infants.

    The vaccine is also highly effective: For the first year after receiving all five doses of the pertussis vaccine, 98% of children are protected from pertussis. Five years after the fifth dose, 65% of vaccinated children remain protected.

    Booster vaccination during adolescence protects 74% of teens against pertussis, and booster vaccination during pregnancy protects 91% to 94% of immunized babies against hospitalization due to pertussis.

    Families can talk to their regular health care providers about whether a pertussis vaccine is needed for their child, themselves or other family members.

    Annette Regan receives funding from the National Institutes of Health, the US Centers for Disease Control and Prevention, and the Global Vaccine Data Network.

    – ref. Whooping cough is making a comeback, but the vaccine provides powerful protection – https://theconversation.com/whooping-cough-is-making-a-comeback-but-the-vaccine-provides-powerful-protection-254647

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Romford builder banned for Covid loan abuse agrees to repay money he should never have claimed

    Source: United Kingdom – Executive Government & Departments

    Press release

    Romford builder banned for Covid loan abuse agrees to repay money he should never have claimed

    Construction director previously disqualified as a director signs compensation agreement

    • Ioan Marcu overstated his company’s turnover to receive £50,000 in Bounce Back Loan funds when he was only entitled to little more than £11,000 

    • Marcu was handed a decade-long director ban for his misconduct following Insolvency Service investigations 

    • The 38-year-old has now signed a formal document in which he agrees to repay the money he secured 

    A builder who was disqualified as a company director for Covid loan abuse has now agreed to repay all the money the company was not entitled to claim. 

    Ioan Marcu inflated his Imbusi Ltd company’s turnover to receive a £50,000 Bounce Back Loan in 2020, the maximum allowed under the scheme. 

    Marcu was disqualified as a director for 10 years in January 2025 following Insolvency Service investigations. 

    The 38-year-old, of Lindfield Road, Romford, has now signed an agreement committing him to repay more than £38,000 – the total amount the company should never have received. 

    Ann Oliver, Chief Investigator at the Insolvency Service, said: 

    Ioan Marcu significantly overstated his company’s turnover in order to receive the maximum amount of money businesses were entitled to under the Bounce Back Loan Scheme. 

    This was clearly an inaccurate declaration which has resulted in him being banned as a director until the start of 2035. 

    Marcu has now signed a compensation undertaking which legally requires him to pay back all the public money the company should never have received in the first place.

    Imbusi was incorporated in August 2014 with Marcu as its sole director. 

    Marcu applied to the bank for the £50,000 Bounce Back Loan in July 2020, claiming Imbusi’s turnover was £280,000 – an over-estimate of more than £230,000. 

    Insolvency Service analysis of Imbusi’s accounts revealed the company was only entitled to a loan of £11,451. 

    The Secretary of State for Business and Trade accepted a compensation undertaking from Marcu on Thursday 24 April, in which he has agreed to repay £38,549 in monthly instalments. 

    His disqualification undertaking prevents him from being involved in the promotion, formation or management of a company, without the permission of the court. 

    Imbusi went into liquidation in July 2022 with liabilities of more than £63,000. 

    Further information

    Updates to this page

    Published 29 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Grangemouth closure is devastating loss for workers and community

    Source: Scottish Greens

    29 Apr 2025 Energy Just Transition

    The workers and community of Grangemouth deserve better.

    More in Energy

    The news of Grangemouth refinery coming to an end is devastating for workers and the community, says Scottish Green MSP Gillian Mackay. 

    Ms Mackay grew up 200 yards from the refinery and represents Grangemouth, was responding to the news that Petroineos has ceased oil refining in Scotland.

    Ms Mackay said:

    “This is devastating for the workers and community of Grangemouth. We should have seen our Governments doing more to protect jobs and modernise the refinery into a space that would help our transition to a greener future. 

    “It is a further blow to the community. It is deeply disappointing that Labour have not stepped in to protect workers or to future proof jobs in the same way that they have with steelworks down south. 

    “Grangemouth is my home, and it has been frustrating to see promises being made and dropped as easily as Petroineos’ detached billionaire has now dropped the workforce. 

    “I am concerned about what this will look like in the short term for the town. Warm words will not pay the bills. Grangemouth holds a lot of potential, as do the workers who offer the skills we need for transitioning away from fossil fuels. 

    “Governments have not done enough to protect the workers, and my fear is that Grangemouth will now go the same way as so many other communities and towns, where big businesses have cut their losses and left at the expense of the communities and livelihoods.”

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Students of SPbGASU are prize winners of the All-Russian Olympiad “Production and Application of Construction Materials and Products”

    Translation. Region: Russian Federal

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – Anastasia Kim, Georgy Khrenov and Sofia Mikheeva

    From April 21 to 24, the final stage of the All-Russian Student Olympiad in the field of “Production and Application of Construction Materials and Products” was held at the Nizhny Novgorod State University of Architecture and Civil Engineering.

    SPbGASU was represented by a team consisting of master’s students from the Faculty of Civil Engineering, Sofia Mikheeva and Anastasia Kim, under the supervision of Associate Professor of the Department of Construction Materials Technology and Metrology, Georgy Khrenov.

    To successfully solve the Olympiad tasks, both theoretical knowledge of building materials and skills in solving creative engineering problems were required. Our students confidently coped with the Olympiad tasks and took second place in the team standings, and Sofia Mikheeva took third place in the individual standings. We congratulate our winners and are proud of them!

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

    MIL OSI Russia News –

  • MIL-OSI Europe: POSITION OF THE EUROPEAN PARLIAMENT adopted at first reading on 3 April 2025 with a view to the adoption of Directive (EU) 2025/… of the European Parliament and of the Council amending Directives (EU) 2022/2464 and (EU) 2024/1760 as regards the dates from which Member States are to apply certain corporate sustainability reporting and due diligence requirements – TC1-COD-2025-0044

    Source: European Parliament 2

    ***I
    POSITION OF THE EUROPEAN PARLIAMENT
    adopted at first reading on 3 April 2025 with a view to the adoption of Directive (EU) 2025/… of the European Parliament and of the Council amending Directives (EU) 2022/2464 and (EU) 2024/1760 as regards the dates from which Member States are to apply certain corporate sustainability reporting and due diligence requirements
    (EP-PE_TC1-COD(2025)0044)

    Source : © European Union, 2025 – EP

    MIL OSI Europe News –

  • MIL-OSI: Resolutions of Nokia Corporation’s Annual General Meeting

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    29 April 2025 at 15.45 EEST

    Resolutions of Nokia Corporation’s Annual General Meeting

    Espoo, Finland – The Annual General Meeting (AGM) of Nokia Corporation took place today 29 April 2025 in Helsinki, Finland. The AGM approved all the proposals of the Board of Directors to the AGM.

    The AGM adopted the Company’s financial statements, discharged the members of the Board and the President and Chief Executive Officer from liability for the financial year 2024 and adopted the Company’s Remuneration Report and Remuneration Policy. In addition, the AGM adopted the following resolutions.

    Authorization to the Board to decide on the asset distribution 
    The AGM decided that no dividend is distributed by a resolution of the Annual General Meeting and authorized the Board to resolve on the distribution of an aggregate maximum of EUR 0.14 per share as dividend from the retained earnings and/or as assets from the reserve for invested unrestricted equity.

    The authorization is valid until the opening of the next Annual General Meeting. The Board will resolve separately on the amount and timing of each distribution of the dividend and/or assets from the reserve for invested unrestricted equity so that the preliminary record and payment dates will be as set out below. The Company shall make a separate announcement of each such Board resolution confirming the relevant record and payment dates. 

    Preliminary record dates    Preliminary payment dates

    5 May 2025 12 May 2025
    29 July 2025 7 August 2025
    28 October 2025 6 November 2025
    3 February 2026 12 February 2026

    Each installment based on the resolution of the Board of Directors will be paid to a shareholder registered in the Company’s shareholders’ register maintained by Euroclear Finland Oy on the record date of the payment.

    Composition of the Board of Directors
    The AGM resolved to elect ten members to the Board. The following eight members of the Board were re-elected for the term ending at the close of the next Annual General Meeting: Timo Ahopelto, Sari Baldauf, Elizabeth Crain, Thomas Dannenfeldt, Lisa Hook, Mike McNamara, Thomas Saueressig and Kai Öistämö. In addition, the AGM resolved to elect Pernille Erenbjerg and Timo Ihamuotila as new members of the Board of Directors for the same term of office. The qualifications and career experience of the elected Board members are available on the Company’s website at https://www.nokia.com/about-us/company/leadership-and-governance/board-of-directors/meet-the-board/.

    Board members’ remuneration
    The AGM resolved that the annual fees to be paid to the members of the Board for the term ending at the close of the next Annual General Meeting are as follows:

    • EUR 440 000 for the Chair of the Board; 
    • EUR 210 000 for the Vice Chair of the Board;  
    • EUR 185 000 for each member of the Board; 
    • EUR 30 000 each for the Chairs of the Audit Committee and the Personnel Committee and EUR 20 000 each for the Chairs of the Technology Committee and the Strategy Committee as an additional annual fee; and 
    • EUR 15 000 for each member of the Audit Committee and Personnel Committee and EUR 10 000 for each member of the Technology Committee and Strategy Committee as an additional annual fee. 

    The AGM resolved that approximately 40% of the annual fee will be paid in Nokia shares. The rest of the annual fee would be paid in cash to cover taxes arising from the remuneration. The members of the Board shall retain until the end of their directorship such number of shares that they have received as Board remuneration during their first three years of service on the Board. If the term of a Board member terminates before the Annual General Meeting of 2026, the Board has a right to decide upon potential reclaim of the annual fees as it deems appropriate.

    The AGM also resolved to pay a meeting fee of EUR 5 000 per meeting requiring intercontinental travel and EUR 2 000 per meeting requiring intracontinental travel for Board and Committee meetings to all Board members. The meeting fee is paid for a maximum of seven meetings per term. Only one meeting fee is paid if the travel entitling to the fee includes several meetings of the Board and the Committees. The AGM also resolved that the members of the Board of Directors shall be compensated for travel and accommodation expenses as well as other costs directly related to Board and Committee work. 

    Auditor and Sustainability Reporting Assurer
    The AGM re-elected audit firm Deloitte Oy as the auditor for Nokia for the financial year 2026. In addition, the AGM elected authorized sustainability audit firm Deloitte Oy as the sustainability reporting assurer for Nokia Corporation for the financial year 2026. Deloitte Oy has informed the Company that the key audit partner and key sustainability partner will be Authorized Public Accountant (KHT) and Authorized Sustainability Auditor (KRT) Jukka Vattulainen.

    The AGM resolved, in accordance with the Board proposal, that the auditor and the sustainability reporting assurer elected for 2026 be reimbursed based on the purchase policy approved by the Board’s Audit Committee and the invoices approved by the Company

    Authorizations to resolve on the repurchase of the Company’s own shares and on the issuance of shares and special rights entitling to shares 
    The AGM authorized the Board to resolve to repurchase a maximum of 530 million Nokia shares by using funds in the unrestricted equity. Shares may be repurchased to be cancelled, held to be reissued, transferred further or for other purposes resolved by the Board. The shares may be repurchased otherwise than in proportion to the shares held by the shareholders (directed repurchase). The authorization is effective until 28 October 2026 and it terminated the corresponding repurchase authorization granted by the Annual General Meeting on 3 April 2024 to the extent that the Board has not previously resolved to repurchase shares based on the respective authorization.

    The AGM authorized the Board to resolve to issue a maximum of 530 million shares through issuance of shares or special rights entitling to shares under Chapter 10, Section 1 of the Finnish Companies Act in one or more issues. The authorization may be used to develop the Company’s capital structure, diversify the shareholder base, finance or carry out acquisitions or other arrangements, settle the Company’s equity-based incentive plans, or for other purposes resolved by the Board. Under the authorization, the Board may issue new shares or treasury shares held by the Company. The authorization includes the right for the Board to resolve on all the terms and conditions of the issuance of shares and special rights entitling to shares, including issuance of shares or special rights in deviation from the shareholders’ pre-emptive rights within the limits set by law. The authorization is effective until 28 October 2026 and it terminated the corresponding authorization granted by the Annual General Meeting on 3 April 2024. 

    Minutes of the Annual General Meeting 
    The minutes of the AGM will be available on the Company’s website latest on 13 May 2025.

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

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

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

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

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

    The MIL Network –

  • MIL-OSI United Kingdom: Council continues to grow Waverley Court Partnership Hub

    Source: Scotland – City of Edinburgh

    Exterior of Waverley Court in Edinburgh.

    Creative Scotland and British Transport Police will move into the Waverley Court Partnership Hub.

    They will join SEPA, Visit Scotland, Skills Development Scotland and Balfour Beatty, which are already based at the Council headquarters on East Market Street. Scottish Water is also due to move into the building later this year.

    The decision by the Council’s Finance and Resources Committee to lease the space will grow the number of organisations based in Waverley Court to eight and annually raise £1.7m in total.

    British Transport Police will move into the courtyard by the end of 2025, occupying about 40 desks, while Creative Scotland will move into the ground floor this autumn, occupying 60 desks.

    The council will continue to retain at least 60% of the desk space within Waverley Court and discussions will continue to take place with other interested public sector partners.

    Councillor Mandy Watt, Finance and Resources Convener, said:

    We’re looking forward to welcoming Creative Scotland and the British Transport Police into Waverley Court, which is quickly becoming a true Partnership Hub, with organisations from all sides of the public sector joining forces to make greater use of the space and share expertise.

    By welcoming these organisations in, we are generating significant income for the Council and making sure our Headquarters are operated in the most sustainable, efficient, and collaborative way.
     

    Published: April 29th 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: New powers already tackling anti-social behaviour in Leicester

    Source: City of Leicester

    NEW powers to help the city council keep Leicester’s public spaces free from anti-social behaviour are already having a positive impact on the city centre.

    Since the beginning of April, a team of city wardens and community safety officers has been patrolling the city centre to raise awareness of the new Public Spaces Protection Order (PSPO) – a suite of new powers that allows the council to take swift enforcement action against those causing a nuisance.

    Easy to spot in their branded uniforms, the authorised officers have spoken to hundreds of people in a month-long period of engagement and education, with their high-profile presence already helping to address nuisance behaviour in the city centre.

    In the past month, the team has issued more than 100 verbal warnings relating to begging in the city centre. Officers also dealt with 49 unauthorised charity collections, 220 bike and scooter offences, 73 incidents of problem street drinking, 79 incidents of unauthorised amplification and 82 unpermitted structures, such as gazebos.

    Everyone spoken to has been warned that from Thursday (1 May), anyone breaching the PSPO risks facing a fixed penalty notice of £100, rising to £1,000 if prosecution leads to a conviction.

    People found begging in the city centre have been signposted to services offering food and shelter, while those riding scooters and e-bikes have been given leaflets, advising them that illegal machines will be confiscated by the police as part of their ongoing Op Pedalfast campaign.

    City Mayor Peter Soulsby said: “Every day for the past four weeks, our city wardens and community safety officers have been out on the streets, making sure that everyone using the city centre knows that nuisance behaviour will not be tolerated in Leicester.

    “And the good news is, the message seems to be getting through.

    “People are coming up to our officers to tell them that their presence is making a difference, and that problems associated with street drinking or begging, or the irresponsible use of e-bikes and scooters, appear to be receding. That sentiment is also reflected in the feedback we’ve received, and we’ve certainly noticed fewer complaints about the city centre in the past four weeks.

    “From 1 May, we’ll be reinforcing that message by introducing enforcement.

    “Anyone breaching the Public Spaces Protection Order from Thursday will be committing a criminal offence and risks facing a £100 fine.

    “I hope that we don’t need to issue any fixed penalty notices on Thursday. My hope is that the risk of a fine is enough to rid Leicester of the sort of anti-social behaviour that’s been spoiling people’s enjoyment of our historic city centre for too long.”

    Introduced on 2 April, the PSPO covers the city centre within the inner ring road, together with the area around Leicester railway station, the entirety of New Walk, and the area between London Road and Regent Road as far as Granville Road.

    Within the area covered by the PSPO, an individual is in breach of the order – and committing a criminal offence – if they cause a nuisance by:

    • begging
    • collecting for charity without the council’s permission
    • using an e-bike, bike, skateboard or scooter irresponsibly
    • consuming alcohol when asked to stop by an authorised officer
    • using amplification equipment without authorisation
    • putting up a gazebo or other temporary structure without authorisation

    The full order can be seen at leicester.gov.uk/pspo

    Public Spaces Protection Orders were introduced by the government as part of the Anti-Social Behaviour, Crime & Policing Act 2014 and can be used by councils to target a range of issues in a defined public area.

    Once adopted, each PSPO is valid for three years.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Going up! Leeds United promotion parade confirmed for Bank Holiday Monday

    Source: City of Leeds

    Leeds United fans will have the chance to salute the club’s promotion-winning heroes during an open-top bus parade, it can be confirmed today.

    Fresh from clinching a return to the Premier League, Daniel Farke and his squad will be riding high once again as they make their way around a loop of Leeds city centre next Monday, May 5.

    Large crowds are expected to turn out to show their appreciation for Leeds’s manager and players on a Bank Holiday afternoon that promises to live long in the memory.

    The parade will follow a mile-long route that will take in the full length of the Headrow as well as City Square, Boar Lane, New Market Street and parts of Wellington Street and Vicar Lane.

    The Whites are scheduled to arrive in the city centre at around 1pm, with the parade set to last between an hour and an hour-and-a-half.

    Due to the high number of fans expected to attend, there will be no single focal point for the event. Instead, supporters are being encouraged to line as much of the route as possible and give the team the welcome they deserve.

    Farke and his players will be ‘on the mic’ and interacting with fans throughout the parade, meaning everyone – no matter where they are along the route – will get the same special experience and enjoy what is sure to be a city centre-wide carnival atmosphere.

    People who cannot make it to the event will be able to follow proceedings via a live stream on the club’s LUTV channel.

    The parade has been organised by Leeds City Council in conjunction with the club, and with support from agencies including West Yorkshire Police.

    Councillor James Lewis, leader of Leeds City Council, said:

    “I’m delighted that we’ve been able to work with Leeds United to give players and fans the chance to celebrate promotion together.

    “As a season ticket holder at Elland Road, I know how much this football club means to its supporters and indeed Leeds as a whole.

    “The name of Leeds United is already known all around the world, but being in the Premier League raises the profile of the club still further and will also bring wider economic benefits to the city.

    “I’m looking forward to seeing fans out enjoying themselves, it should be a wonderful spectacle. By lining the entirety of the route, they’ll be able to secure a great view of the parade and help create a party atmosphere right across the city centre.”

    The Lord Mayor of Leeds, Councillor Abigail Marshall Katung, said:

    “Winning promotion is a marvellous achievement by Daniel Farke and his players, they really have done the whole of Leeds proud over the course of the season.

    “Leeds United’s ups and downs are woven into the fabric of life here and, as the city’s Lord Mayor, it’s my absolute pleasure to see them back where they belong.

    “I know the club’s fans have been in party mood since promotion was secured and I’m sure they will relish the opportunity to continue their celebrations at next week’s parade.”

    Morrie Eisenberg, chief operating officer at Leeds United, said:

    “We are thrilled to be able to celebrate our promotion to the Premier League with a parade across Leeds city centre.

     “Sadly, due to restrictions when we were last promoted to the top flight in 2020, it wasn’t possible for a bus parade to take place, so we’re now delighted to be able to celebrate this promotion properly with our supporters.

     “On behalf of the club I would like to thank everybody who has helped pull the parade together behind the scenes and at local authority level, I’m sure next Monday will be a great occasion for the whole city.”

    A programme of road closures and other traffic restrictions is due to be in place across much of the city centre from 8am to 5pm on Monday. Emergency service access will be maintained throughout this time.

    The size of the expected turnout means people coming into the city centre – for the parade or other reasons – are being asked to carefully plan their journeys in advance.

    The park and ride sites at Temple Green and Stourton will be operating on the day, with First running inbound buses from there to the city centre between 10am and 1pm and return services between 2.30pm and 5.30pm.

    ENDS

    MIL OSI United Kingdom –