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Category: Europe

  • MIL-OSI Russia: Investors received 53 plots from the city at a preferential rate of one ruble per year

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    Since March 2022, investors can rent land in the capital for one ruble per year to expand existing and create new production facilities. During this period, the city has transferred 53 land plots as part of the implementation of large-scale investment projects (MaIP), said Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.

    “Providing land for the construction of production facilities at a preferential rate of one ruble per year allows businesses to reduce their costs of creating jobs and to quickly establish production of products necessary for the life and development of the city. Over three years, investors have already leased more than 270 hectares of land. They will house enterprises in the field of electronics, food industry, construction materials production, furniture, as well as other facilities with a total area of about 2.3 million square meters. After the implementation of the projects, over 23 thousand new jobs will be created. Thanks to the support measure, entrepreneurs will save about 1.9 billion rubles during this time,” said Vladimir Efimov.

    The city views the funds lost from rent as investments in the capital’s economy, which will have a multiplier effect. This is expressed in increased budget revenues, as well as in industrial growth.

    “By 2030, in accordance with the industrial development strategy, at least 13 industry clusters will appear in the capital. By order of Sergei Sobyanin, the city transferred some of the land plots for the creation of new production facilities to investors at a preferential rate of one ruble per year as part of large-scale investment projects. Modern environmentally friendly enterprises for the production of food and innovative construction products will be built on them,” said the Deputy Mayor of Moscow for Transport and Industry

    Maxim Liksutov.

    Plots at a preferential rate are provided to investors in all administrative districts of the capital, with the exception of the Central District. Most of them – 13 with a total area of over 167 hectares – are located in the territory of TiNAO.

    As noted by the Minister of the Moscow Government, head of the capital’s Department of City Property Maxim Gaman, a large industrial cluster focused on the production of food products is being formed in the Krasnopakhorsky District. For the construction of production facilities with a total area of almost 580 thousand square meters, the city has allocated five sites – this is over 96 hectares of land, on which a distribution center for a meat processing plant, enterprises for the production of dairy, bakery, confectionery products, and ready-made meals will be built. Thanks to the city’s support, investors will be able to save about 800 million rubles over five years.

    The plots are provided to investors as part of the implementation of large-scale investment projects – this is a special status that can be received, for example, by production complexes, innovation centers, social institutions, transport, sports, business and other facilities. For their construction, the city provides land for rent. Such support contributes to the creation of new jobs and the development of the capital’s infrastructure.

    Get the latest news quickly official telegram channel the city of Moscow.

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  • MIL-OSI Russia: A large-scale plein air for schoolchildren and college students will be held at the Tsaritsyno Museum-Reserve

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    On Saturday, April 26, the Tsaritsyno Museum-Reserve will host a large-scale plein air for Moscow schoolchildren, college students, their parents and teachers. They will draw the architectural ensemble of the palace, and also attend 30 master classes by professional artists. This was reported by the press service of the capital’s Department of Education and Science.

    “The plein air will be held as part of the city project of children’s and youth creativity “ARTeria”, which started in 2024 and united young artists of the capital. On April 26, on the palace square of the Tsaritsyno Museum-Reserve, everyone will be able to join a large-scale plein air. Participants can choose any technique – draw with pencils, markers or watercolors. Experienced mentors will help create works in the style of architectural sketching,” the press service of the department said.

    Participants will gather at 11:00 at the Grand Tsaritsyno Palace. After the grand opening, which will take place at 12:00, they will disperse to five sites and begin drawing.

    In addition to the plein air, other creative events await young Muscovites and their mentors. Professional artists will teach guests how to use various materials and create works in the style of architectural sketching. Art historians and experts from the Tsaritsyno Museum-Reserve will give lectures on digital art in the urban environment and artistic textiles of the 21st century.

    To participate, you must register. on the website, and also choose one of the proposed techniques: painting with watercolors, sketching with charcoal and pencil or dry pastel.

    The event is organized with the support of the Peredvizhnik chain of art supply stores, which will provide gifts to the best participants in the plein air.

    The ARTERIA project appeared in October 2024. Its goal is to support young Muscovites who are interested in creativity. Thus, in March, the Winzavod Center for Contemporary Art organized an exhibition of works by schoolchildren and college students “18-“. In addition, participation in the project allows the children and their teachers to meet famous artists and attend their lectures. The mentors have already met with art critic Rushaniya Akhunova, who spoke about contemporary art and its connection with national traditions.

    The ARTERIA project will introduce the capital’s schoolchildren and college students to contemporary artYoung Muscovites presented their works at the Winzavod Center for Contemporary Art

    In addition, creative competitions and events are held. For example, last year there was a competition for urban design “Bright City” and an art challenge “Draw with Me”. The curator was digital artist Petr Sklyar. He held lectures and master classes for the participants, including classes on word graphics – a visual display of proverbs.

    You can find out more about additional education in the capital and the ARTERIA project in the Telegram channels “Moscow education” And “Moscow Center for Educational Practices”.

    Conducting creative events for schoolchildren and college students helps develop talents and skills that will be useful to them in their future profession, and is consistent with the objectives of the “Professionalism” and “All the Best for Children” projects of the national project “Youth and Children”.

    Quickly find out the main news of the capital in official telegram channelthe city of Moscow.

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  • MIL-OSI Russia: Another 35 lifting platforms for people with limited mobility will be installed in residential buildings in the south of the capital

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    In the Southern Administrative District, 35 lifting platforms are planned to be installed this year. They will be mounted in the entrances of apartment buildings where wheelchair users live, in accordance with previously submitted applications.

    “Specialists have already installed inclined lifting platforms in eight entrances, and a vertical one in one. After the preparatory work is completed, it is planned to install lifts in another 26 buildings. At present, surveys and design work are being carried out there,” said the deputy head of the capital’s Department of Capital Repairs

    Evgeniy Adamov.

    Seven platforms will be installed in Biryulyovo Vostochny, six in Zyablikovo, four in Chertanovo Tsentralny, three in Chertanovo Severny, two in Brateyevo, Orekhovo-Borisovo Yuzhny, Orekhovo-Borisovo Severny, Chertanovo Yuzhny, Nagatinsky Zaton, and one in Moskvorechye-Saburovo, Biryulyovo Zapadny, Nagatino-Sadovniki, Tsaritsyn, and Nagorny.

    The technical feasibility of installing a platform in a specific building is determined by interdepartmental commissions that have been created in each district of the capital. After this, the design stage begins, when the type of platform is selected taking into account the current GOSTs, regulations, building codes and rules. All projects undergo state examination, which confirms the correctness of the technical solutions adopted.

    According to Evgeny Adamov, if there is enough space in the entrance, preference is given to vertical platforms. They are a kind of mini-elevators that allow you to rise to a height of up to four meters. Such lifts are very convenient for city residents with disabilities and do not create any inconvenience for other residents. If there is no possibility to install a vertical platform, an inclined lift is mounted on the wall parallel to the flight of stairs. This is a compact design that, when folded, does not interfere with neighbors and is suitable for both straight stairs and those with a more complex configuration.

    During the installation of lifts, other work is also carried out to create a barrier-free environment: specialists install ramps and handrails at the entrance to the building, as well as doors with lowered thresholds and automatic closers that a person in a wheelchair can open remotely. In addition, visual and dispatch control systems are installed. This ensures the safety of descent and ascent.

    You can submit an application for installation of the platform on the mos.ru portal or on the website Department of Labor and Social Protection of the Population of the City of Moscow in the section “Internet Reception”. Permanent registration in Moscow and a doctor’s recommendation for using a wheelchair are required. According to the Housing Code of the Russian Federation, neither a meeting nor a decision of the owners of premises in an apartment building is required to install a lifting platform in the entrance.

    From 2011 to 2024 the capital Department of capital repairs 2,128 lifting platforms for wheelchair users were installed.

    Get the latest news quickly official telegram channel the city of Moscow.

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    https: //vv.mos.ru/nevs/ite/153011073/

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  • MIL-OSI Russia: Filmmakers’ Forum and Actors’ Master Classes: How the Weekend Went at the Moskino Cinema Park

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    Last weekend, April 19 and 20, the Moskino Cinema Park hosted a filmmakers’ forum dedicated to the use of modern technologies in film production. Industry experts spoke at the forum. In addition, it was possible to take part in acting master classes and the quest “Film! Film! Film!”, as well as see the one-man show “Dog”.

    Lectures, master classes and creative evenings

    The first lecture was given by Broadcast’s Product Director Leonid Novoselov. He spoke about real-time filming technology, 3D graphics and innovative programs for implementing creative ideas. The lecture helped students of specialized universities learn a lot of new things.

    The master class by Natalia Klibanova, chief producer of the film company Amedia Production, was devoted to the topic of complex staging of filming. She worked on such projects as The Master and Margarita, Palma-2 and Psychologists. She shared stories from her own professional experience with the student filmmakers.

    “It is very nice that there are people who come to my lectures at the cinema park more than once. In general, the audience is very interested, these are either those who want to learn more about cinema or those who want to integrate into the industry. Actors who want to expand their professional opportunities often come to the lectures. And we always invite them to castings, tell them about projects. This certainly gives results. There are also those who want to reformat their activities, while remaining in cinema. For example, they were involved in advertising, but dream of moving towards TV series. We talk about the work of our company, about who we are looking for, offer internships for students. The most important thing is not to be afraid to participate in pitching, festivals, educational programs that the Moskino cinema park organizes. It is incredibly valuable that forums, lectures and master classes for aspiring filmmakers are held here,” said Natalia Klibanova.

    The artistic part of film production was the subject of a lecture by Alexandrina Trapeznikova, a teacher at the Institute of Cinema and Television (GITR). The production designer spoke about how the tools of professionals in this field have changed thanks to the advent of computer technology, as well as about drawing skills and new tasks. At a panel discussion, filmmakers Natalia Klibanova, Alexandra Trapeznikova and Leonid Novoselov discussed the latest trends in the industry, the future of cinematography and answered questions from the audience.

    The Gonzaga Theatre set hosted a creative evening with actor Lev Zulkarnaev, a participant in the projects “The Word of a Boy” and “Buratino”. The graduate of the Russian Institute of Theatre Arts – GITIS, spoke about the acting profession and interaction with the director. Many young fans gathered for his performance, took photos with the artist, asked questions and received autographs.

    “I think that such meetings are important, but only in combination with my own experience. Because in theory everything sounds one way, but in practice it is completely different. It is important that those who want to get into cinema definitely try, get their hand in, maybe make mistakes and learn from them. The Cinema Park is a professional space with good organization, where I felt very comfortable working. I starred here in the film “Buratino” on the “Provincial Towns of Europe” set, and I only have positive impressions. I have never seen such amazing scenery. I hope that I will definitely work on the Cinema Park sets again,” shared Lev Zulkarnayev.

    In addition, a master class and lecture on acting were held by the actor of the Stanislavsky Electrotheatre Nikita Makhalov and the director of the Theatre of Young Muscovites Andrey Zadubrovsky. Nikita Makhalov demonstrated professional techniques for conveying the emotional state of the hero. Andrey Zadubrovsky told the audience about the means of expressiveness of speech and plasticity, and also revealed the secret of how to play a role while remaining yourself.

    Performances, quests and film screenings

    At the Gonzaga Theatre, children and parents watched Alexey Poltavsky’s one-man show “Dog” based on the story of the same name by Georgian writer Nodar Dumbadze. The story about the struggle between good and evil, a teenager’s difficult choice and love for an abandoned animal evoked genuine feelings in the audience.

    The immersive quest “Film! Film! Film!” was held at the Uyezdny Gorod location. The participants had to go through the entire film production process – from creating a script to releasing the film, and they were helped in this by episodes played out by professional actors. In the process of creating a cinematic masterpiece, the participants were inspired by realistic decorations of suburban streets and buildings.

    Unforgettable impressions of the weekend were left by watching films for the whole family at the Moskino Kinopark cinema. Adventure lovers remembered the new Russian film Kraken. The film tells about the search for a missile submarine cruiser that disappeared during a secret mission in the Greenland Sea. In addition, viewers saw kind films about family, friendship and loyalty Batya-2. Ded and Palma-2. And the cartoon Jurassic Jungle was especially memorable for the young guests of the cinema park.

    Sobyanin told how virtual technologies simplify film shooting in MoscowThe 47th Moscow International Film Festival opened with the historical war drama “Not on the Lists”

    The Moskino cinema park is part of Sergei Sobyanin’s “Moscow – City of Cinema” project and an object of the Moscow cinema cluster, which is being developed by the capital Department of CultureThe first stage of development has already been completed here: 24 natural sites, four pavilions and six infrastructure facilities have been built, including the sets “Center of Moscow”, “Moscow in the 1940s”, “Vitebsk Station”, “Yurovo Airport”, “Cathedral Square of Moscow”, “Deaf Village”, “County Town”, “Cowboy Town”, “St. Petersburg Bar” and others.

    The Moscow Film Cluster is an infrastructure facility, services and facilities for filmmakers, which are being developed by the Moscow Government within the framework of the Moscow — City of Cinema project. Its structure includes the Moskino film park, the Gorky Film Studio (sites on Sergei Eisenstein Street and Valdaisky Proyezd), the Moskino film factory, the Moskino cinema chain, the film commission and the Moskino film platform.

    Get the latest news quickly in the official telegram channel the city of Moscow.

    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.

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    https: //vv.mos.ru/nevs/ite/153022073/

    MIL OSI Russia News –

  • MIL-OSI Europe: The global economy needs institutions like the IMF | Guest contribution by Joachim Nagel in the Börsen-Zeitung

    Source: Deutsche Bundesbank in English

    As finance ministers and central bank governors from around the world gather in Washington, DC for the IMF Spring Meetings, international economic relations are more strained than most of us have probably ever experienced.
    At a time when the rules-based global order is under imminent threat, it is up to all of us to defend this global order and the institutions upon which it is built. I see an urgent need for policymakers to clearly articulate the benefits that these institutions and a stable international monetary system deliver for all countries.
    The IMF ranks among the most important international organisations. It helps preserve the stability of the global monetary and financial system by providing its member countries with policy advice or, if necessary, financial assistance to prevent and overcome economic and financial crises. The IMF is a cornerstone of the rules-based international monetary system that is so vital for our prosperity.
    One enduring feature of the IMF is its strong ability to adapt to evolving global economic conditions, in part because it regularly evaluates the design of its frameworks and policies. Indeed, the IMF is planning to review two fundamental areas – the conduct of surveillance and the design of its lending programmes, including conditionality – in the near future.
    Surveillance is the IMF’s key crisis prevention tool. Given the current challenges, it is crucial to keep our understanding of international spillover effects up to date at all times. Significant progress has been made since the global financial crisis, but we still need to improve what we know about how economic developments are transmitted from one country to another. Despite signs of fragmentation, our world is still very much interconnected and the economic linkages have grown in complexity in recent years. Needless to say, changing trade patterns are a factor in this. But enhanced analyses are also needed for the financial sector. That’s a task the IMF is uniquely placed to perform.
    Furthermore, factors like artificial intelligence, digital money and the move towards a more multipolar world will significantly affect our economies. We need to know more about their impact on global monetary and financial stability. Climate-related risks such as floods, droughts and storms can take their toll on banks’ and insurers’ balance sheets. Political uncertainty and geoeconomic fragmentation will also affect the financial sector and real economy. By understanding the systemic implications of these trends, we will be better equipped to overcome the challenges that lie ahead.
    Unfortunately, though, crisis prevention is only part of the story. When crises do occur, IMF lending plays a hugely important role. To make sure the funds are used effectively, they are granted subject to conditions as a way of ensuring that a crisis can be overcome.
    Currently, in some programmes, funds are disbursed early, while policy actions only need to be implemented later. I would suggest – where feasible – bringing policy actions forward and pushing back disbursements. This would enhance programme effectiveness and help make more efficient use of the funds. In addition, including contingency measures more often could help programmes respond more flexibly to unforeseen events.
    The global economy needs global institutions like the IMF. It is a cornerstone of the global monetary and financial system, and thus also of our collective well-being. Let me be clear: the Bundesbank and I are committed to the IMF as an important player in promoting economic and financial stability and thus also our prosperity.

    MIL OSI

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Aid to Gaza: E3 foreign ministers’ statement, 23 April 2025

    Source: United Kingdom – Government Statements

    Press release

    Aid to Gaza: E3 foreign ministers’ statement, 23 April 2025

    Joint statement on behalf of the Foreign Ministers of France, Germany and the UK on more than 50 days of Israel’s block on aid to Gaza

    Israel has now fully blocked the entry of humanitarian aid into Gaza for over fifty days. Essential supplies are either no longer available or quickly running out. Palestinian civilians – including one million children – face an acute risk of starvation, epidemic disease and death. This must end. We urge Israel to immediately re-start a rapid and unimpeded flow of humanitarian aid to Gaza in order to meet the needs of all civilians. During the last ceasefire, the UN and INGO system was able to deliver aid at scale. The Israeli decision to block aid from entering Gaza is intolerable. Minister Katz’s recent comments politicising humanitarian aid and Israeli plans to remain in Gaza after the war are unacceptable – they harm prospects for peace. Humanitarian aid must never be used as a political tool and Palestinian territory must not be reduced nor subjected to any demographic change. Israel is bound under international law to allow the unhindered passage of humanitarian aid.

    Humanitarians must be able to deliver aid to those who need it most, independent of parties to the conflict and in accordance with their humanitarian principles. Israel must ensure unhindered access for the UN and humanitarian organisations to operate safely across Gaza. Hamas must not divert aid for their own financial gain or use civilian infrastructure for military purposes.

    We reiterate our outrage at recent strikes by Israeli forces on humanitarian personnel, infrastructure, premises and healthcare facilities. Israel must do much more to protect the civilian population, infrastructure and humanitarian workers. This includes restoring deconfliction systems, allowing humanitarian workers free movement within Gaza. And Israel must prevent harm to medical personnel and premises in the course of their military operations. They must allow the urgent healthcare needs of the population to be met, while allowing the sick and wounded to temporarily leave the Gaza Strip to receive treatment.

    Crucially, we urge all parties to return to a ceasefire. We continue to call on Hamas for the immediate release of all the remaining hostages, who are enduring terrible suffering. We must all work towards the implementation of a two-state solution, which is the only way to bring long-lasting peace and security to both Israelis and Palestinians and ensure long-term stability in the region.

    Updates to this page

    Published 23 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI Europe: Palazzo Chigi lit up with Italian tricolour on National Made in Italy Day

    Source: Government of Italy (English)

    15 Aprile 2025

    The Presidency of the Council of Ministers celebrates National Made in Italy Day. To mark the occasion, Palazzo Chigi’s main façade will be lit up with the Italian tricolour from 00:01 until sunrise and from sunset until 23:59 today, Tuesday 15 April.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: PM remarks at St George’s Day reception: 22 April 2025

    Source: United Kingdom – Executive Government & Departments

    Speech

    PM remarks at St George’s Day reception: 22 April 2025

    Prime Minister’s remarks from the St. George’s Day reception in Downing Street.

    Maro, it’s fantastic to see you up here and to hear you talk about the pride of pulling on an England jersey.

    I think it’s something we’ve dreamt of doing all our lives, though I only got to pulling on a replica.

    But it’s really important, that sense of pride that you described by the simple act of putting on a shirt, a sports shirt, and I think that pride and joy is hugely important.

    And as for your reminder of St George I’ve got a few ideas about what we could feed the dragon.

    But look it’s amazing just to look out and see so many people here, Tony Adams here in his red suit.

    He won’t remember this, but Vic and I drove along the Cotswolds years ago and he was out for a walk and I screeched to halt and insisted on shaking his hand, so it’s great to see you again.

    But it’s a really fantastic group of people and thank you so much for coming here to be in Downing Street with us.

    This is where I work and live just upstairs but it’s also your building and I’m really keen to get across this sense that this isn’t just a remote place where the government is, but that we are here to serve our communities and serve our country.

    So this is your place just as much as it is mine, it’s your right to be here and my privilege to invite you here as guests, so you are very welcome, to test and push us and to tell us what your ideas are and have the opportunity to put your fingerprints on everything we’re doing as a government.

    And of course – as a proud Englishman, this is a particularly special occasion: St. George’s Day. And it’s the eve of the day to revel in all the wonder and joy of our country.

    You see that reflected in this reception and I think it’s one of the biggest we’ve had here in Downing Street running all the way through to the rooms at the back with some fantastic people.

    We’ve got Pimms, we’ve got English sparkling wine and we’ve got our brilliant showcases with Melton Mowbray pork pies, Lancashire Eccles cakes, Bakewell tarts and gin from Exmoor distillery. We were going to have Morris Dancers too at one point, but we’re saving them for the next Cabinet away day instead.

    Because one of the great things about this country is we have so many wonderful traditions and so many individual, personal reasons that make us proud to be English.

    For me – it always starts with football of course. I was there at Wembley in Euro 1996. I was there at Wembley in 2021 and I was there also last year when we went to Germany, where we came so close again.

    But that still makes the nation proud. Though whatever it is, whether it’s football, festivals, cricket, Shakespeare – his birthday tomorrow of course, or our music – from Elgar to the Rolling Stones, our art – from Tracy Emin to Turner or our universities, inventions and innovations – the world’s first vaccine was an incredible moment, the world wide web, the computer and of course our landscape.

    Everyone in this room will have their favourite spots. Whether it’s rocky coves and beaches in Cornwall or the incomparable beauty of the Lake District.

    My late mum struggled to walk, so she decided to have all her holidays in the Lake District where the only thing you can do is walk, but that summed her up.

    And we still go there with our children now. But you also have the Chalk Hills of the North Downs where I grew up: this is a beautiful country, rich with pride, potential and creativity. 

    It’s also a country where a person like me who grew up working class and a person like the previous occupant, Rishi Sunak, an English Hindu, can both become Prime Minister of the United Kingdom. That for me is something I think we should always be proud of and never take for granted. 

    Because, while this is a day for celebration, we cannot be under any illusions that there is a never-ending fight for our flag and what it represents. I’ll put it this way, when I was standing in the old Wembley in 1996 – not many people sat down that day, it felt like that whole tournament embodied the best of our country.

    Yet now – there are people trying to sow division in our communities, people taking the red and white of our flag, like the bunting downstairs, with them, as they throw bricks at businesses… 

    The day after the terrible Southport incident last year, I went up to take the opportunity to shake the hands of the first respondents of police and ambulance workers, you’ll now have seen what they all faced.

    As I simply said thank you, almost all said to me they were just doing their job, but of course they weren’t, and it’s just incredible to think about what they were doing, and they were all back in work the next day to help clear up.

    By the time I got back to London that very day, we had people throwing bricks at the very same police officers I was shaking hands with.

    And that’s why the battle for our flag is really important because that is what happened and that was only last year. So, we have to fight for our flag and for our values.

    Because it was the aftermath of the riots that showed what it means to be English. It marked the coming together of a country.

    People who got together the morning after, all across Britain with shovels, brooms, and brushes, to clean up their communities. Rebuilding walls, repairing damage and it’s in that spirit that we reclaim our flag and that was incredibly uplifting to go from rioting to people coming out to do what they could for our country.

    So that’s what we must do for our country, for English decency, honour and fairness. Wrench it out of the hands of those who want to divide this nation and reclaim it for good.  

    Because that flag doesn’t belong to me as Prime Minister or any group or political party and that is the point.

    It belongs to all of us to England, in all its wonder and diversity. And we should be proud of that flag, we must never concede it, because it is an expression of our values and our patriotism.

    And patriotism – for me is about serving the country we love. That’s what drove me when I was Chief Prosecutor, serving people who’d faced appalling crimes and injustice. People like John and Penny Clough who are with us today – they lost their daughter in an appalling crime and came to see me many years ago in their journey for justice and have become friends of mine.

    And it’s what drives me today – when I say I want to make working people’s lives better.

    It’s at the heart of this Government, what’s written through our Plan for Change: putting money in people’s pockets; getting public services back on their feet so they serve the public in the way that people deserve; making our streets safer so we can all enjoy our communities; building the homes working people need, which are an aspiration and opportunity for so many; breaking down barriers to opportunity and honouring Britain’s veterans – by making sure there are “homes for heroes”.

    As we also protect our national security with the biggest defence investment since the end of the Cold War. 

    We know this won’t be easy and we’re living through a time of uncertainty which I’m sure everyone in this room can feel that over the past six months. Whether that’s through defence, national security or the global economy.

    But moments like this, as we come together to celebrate St. George’s Day are a reminder of all our nation has been through over generations and the values that have endured.

    The creativity, resilience and good will and humour that have remained a constant through the ages and will endure for generations to come.

    So, let’s be proud of our national identity, let’s pay tribute to all those who keep our country going from the generations who laid down their lives to keep us free, to those serving our country today. Our armed forces, our NHS staff, our teachers and the small businesses who serve their community. 

    Let’s remember our shared history, our shared inheritance and the values that have endured. And most of all, let’s hear it for England and for St. George! Thank you very much.

    Updates to this page

    Published 23 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI Europe: New data release: ECB wage tracker continues to indicate that negotiated wage pressures will ease over the course of the year

    Source: European Central Bank

    23 April 2025

    • ECB wage tracker updated with agreements signed up to first week of April 2025
    • Forward-looking information suggests negotiated wage pressures will ease overall in 2025, consistent with data published following March Governing Council meeting

    The European Central Bank wage tracker, which covers active collective bargaining agreements, indicates negotiated wage growth with smoothed one-off payments of 4.8% in 2024 (based on an average coverage of 48.8% of employees in participating countries), and 3.1% in 2025 (based on an average coverage of 46.5%). The ECB wage tracker with unsmoothed one-off payments indicates average negotiated wage growth level of 4.9% in 2024 and 2.8% in 2025. The steeply downward trend of the forward-looking wage tracker in 2025 partly reflects the mechanical impact of large one-off payments (that were paid in 2024 but drop out in 2025) and the frontloaded nature of wage increases in some sectors in 2024. The wage tracker excluding one-off payments indicates growth of 4.2% in 2024 and 3.8% in 2025. See Chart 1 and Table 1 for further details.

    The ECB wage tracker may be subject to revisions, and the forward-looking part should not be interpreted as a forecast as it only captures information in active collective bargaining agreements. For a more comprehensive assessment of wage developments in the euro area, please refer to the March 2025 ECB staff macroeconomic projections for the euro area, which indicate a yearly growth rate of compensation per employee in the euro area of 4.6% in 2024 and 3.4% in 2025, with a quarterly profile for 2025 of 3.8% in the first quarter, 3.7% in the second quarter, 3.4% in the third quarter and 2.8% in the fourth quarter.

    The ECB publishes four wage tracker indicators for the aggregate of seven participating euro area countries via the ECB Data Portal.

    Chart 1

    ECB wage tracker: forward-looking signals for negotiated wages and revisions to previous data release

    2023-25

    Revisions to previous data release

    (left-hand scale: yearly growth rates, percentages; right-hand scale: percentage share of employees)

    (percentage points)

    Sources: ECB calculations based on data on collective bargaining agreements signed up to the first week of April 2025 provided by the Deutsche Bundesbank, the Bank of Greece, the Banco de España, the Banque de France, the Banca d’Italia, the Oesterreichische Nationalbank, the Dutch employers’ association AWVN and Eurostat. The indicator of negotiated wage growth is calculated using data from the Deutsche Bundesbank, the Ministerio de Empleo y Seguridad Social, the Centraal Bureau voor de Statistiek, Statistik Austria, the Istituto Nazionale di Statistica (ISTAT), the Banque de France and Haver Analytics.

    Notes: Dashed lines denote forward-looking information up to December 2025.

    What do the four different indicators show?

    • The headline ECB wage tracker shows negotiated wage growth that includes collectively agreed one-off payments, such as those related to inflation compensation, bonuses or back-dated pay, which are smoothed over 12 months.
    • The ECB wage tracker excluding one-off payments reflects the extent of structural (or permanent) negotiated wage increases.
    • The ECB wage tracker with unsmoothed one-off payments is constructed using a methodology that, both in terms of data sources and statistical methodology, is conceptually similar to, but not necessarily the same as, the one used for the ECB indicator of negotiated wage growth.
    • The share of employees covered is the percentage of employees across the participating countries that are directly covered by ECB wage tracker data. This indicator provides information on the representativeness of the underlying (negotiated) wage growth signals obtained from the set of wage tracker indicators for the aggregate of participating countries. Employee coverage differs across countries and within each country over time (more details are provided in Table 2).

    Table 1

    ECB wage tracker summary

    (percentages)

    ECB wage tracker

    Coverage

    Headline indicator

    Excluding one-off payments

    With unsmoothed one-off payments

    Share of employees

    2013-2023

    2.0

    1.9

    2.0

    49.1

    2024

    4.8

    4.2

    4.9

    48.8

    2025

    3.1

    3.8

    2.8

    46.5

    2024 Q1

    4.1

    3.8

    5.2

    49.0

    2024 Q2

    4.4

    3.9

    3.4

    49.0

    2024 Q3

    5.2

    4.5

    6.8

    48.7

    2024 Q4

    5.3

    4.7

    4.3

    48.3

    Jan 2025

    4.9

    4.3

    3.0

    49.4

    Feb 2025

    5.0

    4.7

    3.2

    49.5

    Mar 2025

    4.0

    4.3

    1.4

    49.5

    Apr 2025

    4.1

    4.4

    4.2

    49.3

    May 2025

    3.8

    4.1

    3.9

    49.2

    Jun 2025

    3.8

    4.0

    3.8

    46.9

    2025 Q3

    2.1

    3.4

    1.9

    45.1

    2025 Q4

    1.6

    3.0

    2.9

    42.9

    Sources: ECB calculations based on data provided by the Deutsche Bundesbank, the Bank of Greece, the Banco de España, the Banque de France, the Banca d’Italia, the Oesterreichische Nationalbank, AWVN and Eurostat.

    Notes: See the technical details at the end of this press release. ECB wage tracker indicators reflect yearly growth in negotiated wages. Coverage is defined as the share of employees in participating countries. Rows with values in italics and bold refer to the forward-looking aspect of the respective indicators.

    Table 2

    Employee coverage by country

    (share of employees in each country, percentages)

    Germany

    Greece

    Spain

    France

    Italy

    Netherlands

    Austria

    Euro area

    2013-2023

    42.0

    10.0

    61.0

    51.7

    48.7

    64.2

    56.7

    49.1

    2024 Q1

    43.7

    16.0

    56.8

    48.3

    48.2

    62.7

    78.6

    49.0

    2024 Q2

    44.1

    15.9

    56.1

    48.2

    48.1

    62.4

    77.8

    49.0

    2024 Q3

    44.3

    15.8

    54.5

    48.1

    47.9

    62.1

    77.8

    48.7

    2024 Q4

    43.8

    15.7

    53.4

    48.2

    47.8

    61.9

    77.8

    48.3

    2025 Q1

    44.0

    19.5

    53.1

    52.9

    47.8

    61.3

    75.9

    49.4

    2025 Q2

    45.0

    16.3

    52.0

    52.4

    43.4

    60.2

    72.2

    48.5

    2025 Q3

    43.8

    8.7

    49.4

    48.3

    35.8

    57.6

    70.2

    45.1

    2025 Q4

    42.1

    8.3

    49.0

    43.4

    35.6

    53.3

    65.3

    42.9

    Sources: ECB, the Deutsche Bundesbank, the Bank of Greece, the Banco de España, the Banque de France, the Banca d’Italia, the Oesterreichische Nationalbank, AWVN and Eurostat.
    Notes: The euro area aggregate comprises the seven participating wage tracker countries. The coverage shows the relative strength of wage signals for each country and the euro area. The historical average is calculated from January 2016 to December 2023 for Greece and from February 2020 to December 2023 for Austria. For the other countries, it is calculated from January 2013 to December 2023. Rows with values in italics and bold refer to the forward-looking aspect of the respective indicators.

    For media queries, please contact Benoit Deeg, tel.: +491721683704

    Notes:

    • The ECB wage tracker is the result of a Eurosystem partnership currently comprising the ECB and seven euro area national central banks: the Deutsche Bundesbank, the Bank of Greece, the Banco de España, the Banque de France, the Banca d’Italia, De Nederlandsche Bank, and the Oesterreichische Nationalbank. It is based on a highly granular database of active collective bargaining agreements for Germany, Greece, Spain, France, Italy, the Netherlands and Austria. The wage tracker is one of many sources that can help assess wage pressures in the euro area.
    • The wage tracker methodology uses a double aggregation approach. First, it aggregates the highly granular information on collective bargaining agreements and constructs the wage tracker indicators at the country-level using information on the employee coverage for each country. Second, it uses this information to construct the aggregate for the euro area using time-varying weights based on the total compensation of employees among the participating countries.
    • Given that the forward-looking nature of the tracker is dependent on the underlying collective bargaining agreements database, the wage signals should always be considered conditional on the information available at any given point in time and thus subject to revisions.
    • The results in this press release do not represent the views of the ECB’s decision-making bodies.

    MIL OSI Europe News –

  • MIL-OSI: JLT Mobile Computers renews its five-year agreement with Kaleris to continuously validate their computers for major releases of the N4 Terminal Operating System

    Source: GlobeNewswire (MIL-OSI)

    Image available: pr@jltmobile.com

    This announcement underscores JLT’s long-term commitment to the port segment and their dedication to providing robust, reliable solutions for container terminal operations

    Växjö, Sweden,22 April 2025 * * * JLT Mobile Computers, a leading supplier of rugged computers, has announced the renewal of the Navis Ready Partner Program Agreement with Kaleris. This marks ten years of close and successful cooperation between JLT and Kaleris.

    With Navis Ready validation, ports and terminals can rely on a seamless integration of the JLT computers with Kaleris N4 Terminal Operating System (TOS) for all major releases within the coming five-year period.

    Future-proof, risk-free hardware and software integration with Kaleris N4 TOS
    More than 500 terminals in 80 countries use N4 TOS to improve operational efficiencies and lower the cost of handling containers and equipment at ports and terminals. To maintain these operational advantages across their workflow, terminals rely on validated technology partnerships.

    Navis Ready is a validation program that tests partner hardware and software solutions in a simulated environment to ensure compatibility with specific versions of the N4 TOS. By choosing a Navis Ready partner like JLT, terminal operators benefit from seamless project deployment, as compliance with the container terminal operating environment is pre-verified.  

    “We are happy that JLT committed to easy integration of our TOS by signing another five-year agreement. Together, JLT and Kaleris are ready to provide a strong offering to new and existing users of N4,” says Kirk Knauff, CEO of Kaleris.

    Rigorous validation tests of JLT rugged computers ensure seamless integration

    The JLT rugged computers undergo rigorous testing to earn their Navis Ready validation. These rugged computers are designed and built for harsh environments in container terminals. Whether installed inside a crane or truck cabin or outdoors, JLT rugged computers are used by many high-profile ports and terminals worldwide.

    “Since 2015, we have collaborated with Kaleris, and we were their first five-year validation partner in 2019. Many container terminals worldwide already use JLT solutions in their daily operations. Combining the extended Navis Ready validation for another five years with our rugged computers strengthens our long-term promise to meet our customers’ needs and ensures hassle-free and reliable operations,” says Per Holmberg, CEO of JLT Mobile Computers.

    N4 customers benefit from JLT’s long experience in ports and terminals as well as many other industries. JLT designs and develops a portfolio of rugged computers with the aim of maximizing efficiency and productivity in our customers’ operations.

    “When we chose the combination of JLT and N4 TOS, we required a strong operational foundation. After five years, it has truly delivered, and the ongoing support from both parties gives us confidence that they will continue to uphold the high standard we’ve come to rely on. With a renewed five-year agreement, we are assured that this partnership will keep driving our success,” says Orlando Valerón Rodríguez, IT Manager at OPCSA.

    To learn more about JLT Mobile Computers and the company’s products, services, and solutions, visit jltmobile.com/solutions/ports/

    About JLT Mobile Computers

    Reliable performance, less hassle. JLT Mobile Computers is a leading supplier of rugged mobile computing devices and solutions for global and local port operators, in particular, container terminals. Almost 30 years of development and manufacturing experience have enabled us to set the standard in rugged computing, combining outstanding product quality with expert service, support, and solutions. Operators depend on JLT computing devices in all their container handling equipment (CHE) to ensure trouble-free business operations 24/7. JLT participates in the Navis Ready Validation program to ensure interoperability with Kaleris N4. JLT operates globally from offices in Sweden, France and the US, complemented by an extensive network of sales partners in local markets. The company was founded in 1994, and its shares have been listed on the Nasdaq First North Growth Market stock exchange since 2002 under the symbol JLT. Eminova Fondkommission AB acts as Certified Adviser. Learn more at www.jltmobile.com.

    About Kaleris

    Kaleris is a global software company dedicated to solving the world’s most difficult supply chain transportation challenges. Trusted by over 650 companies across 80 countries, we provide mission-critical software for yard and transportation management, terminal operations, and ocean shipping. By building a more connected, visible, sustainable, and reliable global logistics ecosystem, we bridge the data gaps that create inefficiencies and empower our customers to achieve their goals. For more information, visit www.Kaleris.com Media contact: Suzy Swindle, suzy.swindle@kaleris.com  

    The MIL Network –

  • MIL-OSI: BE Semiconductor Industries N.V. Announces Q1-25 Results

    Source: GlobeNewswire (MIL-OSI)

    Q1-25 Revenue of € 144.1 Million and Net Income of € 31.5 Million
    Orders of € 131.9 Million Up 8.2% vs. Q4-24

    DUIVEN, The Netherlands, April 23, 2025 (GLOBE NEWSWIRE) — BE Semiconductor Industries N.V. (the “Company” or “Besi”) (Euronext Amsterdam: BESI; OTC markets: BESIY), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the first quarter ended March 31, 2025.

    Key Highlights

    • Revenue of € 144.1 million, down 6.1% vs. Q4-24 due primarily to lower shipments for high-end mobile applications. Vs. Q1-24, down 1.5% due to lower shipments for mobile and automotive applications partially offset by strong growth in hybrid bonding and other AI related computing applications
    • Orders of € 131.9 million up 8.2% vs. Q4-24 primarily due to increased bookings by Asian subcontractors for AI related data center applications. Up 3.3% vs. Q1-24 due to higher bookings for hybrid bonding and other advanced computing applications  
    • Gross margin of 63.6% decreased by 0.4 points vs. Q4-24 and 3.6 points vs. Q1-24 due primarily to a less favorable product mix and, to a lesser extent, adverse net forex influences
    • Net income of € 31.5 million decreased 46.9% vs. Q4-24 primarily due to the absence of an € 18.2 million net tax benefit recognized in Q4-24, lower revenue and higher consulting costs. Down 7.4% vs. Q1-24 primarily due to lower revenue and gross margins partially offset by an 8.9% decrease in operating expenses. Similarly, Besi’s net margin declined to 21.9% vs. 38.6% in Q4-24 and 23.2% in Q1-24
    • Ex share-based incentive compensation and tax benefits, Besi’s adjusted net income (net margin) was € 35.9 million (24.9%) in Q1-25 vs. € 43.2 million (28.2%) in Q4-24 and € 49.5 million (33.8%) in Q1-24
    • Net cash of € 159.4 million increased € 15.6 million, or 10.8%, vs. Q4-24

    Outlook   

    • Revenue expected to be flat (plus or minus 10%) vs. € 144.1 million reported in Q1-25
    • Gross margin expected to range between 62-64% vs. 63.6% realized in Q1-25
    • Operating expenses expected to decrease 0-10% vs. € 52.5 million in Q1-25
    (€ millions, except EPS) Q1-2025 Q4-2024 Δ Q1-2024 Δ
    Revenue 144.1 153.4 -6.1% 146.3 -1.5%
    Orders 131.9 121.9 +8.2% 127.7 +3.3%
    Gross Margin 63.6% 64.0% -0.4 67.2% -3.6
    Operating Income 39.3 50.6 -22.3% 40.7 -3.4%
    EBITDA 46.6 58.0 -19.7% 47.5 -1.9%
    Net Income* 31.5 59.3 -46.9% 34.0 -7.4%
    Net Margin* 21.9 38.6% -16.7 23.2% -1.3
    EPS (basic) 0.40 0.75 -46.7% 0.44 -9.1%
    EPS (diluted) 0.40 0.74 -45.9% 0.44 -9.1%
    Net Cash and Deposits 159.4 143.8 +10.8% 180.9 -11.9%

    * Excluding share-based compensation expense and an € 18.2 million net tax benefit recognized in Q4-24, Besi’s adjusted net income (net margin) would have been € 35.9 million (24.9%), € 43.2 million (28.2%) and € 49.5 million (33.8%) in Q1-25, Q4-24 and Q1-24, respectively.

    Richard W. Blickman, President and Chief Executive Officer of Besi, commented:
    “Besi reported solid first quarter results and important new advanced packaging orders in a challenging market environment. Revenue of € 144.1 million was down 1.5% versus Q1-24 due to ongoing weakness in mobile and automotive end user markets partially offset by strong revenue growth from hybrid bonding and other AI related computing applications. In contrast, orders increased 3.3% versus Q1-24 and 8.2% versus Q4-24 due primarily to increased bookings by Asian subcontractors for AI related data center applications which more than offset weakness in mobile, automotive and Chinese end user markets.

    Of note, significant progress was made on Besi’s wafer level assembly agenda this quarter as we received hybrid bonding orders from two leading memory producers for HBM 4 applications as well as follow-on orders from a leading Asian foundry for logic applications. Further, important announcements were made by two leading semiconductor producers with respect to future hybrid bonding applications such as ASICs and co packaged optics. In addition, a leading US logic manufacturer successfully began production of AI related logic devices utilizing Besi’s hybrid bonders in integrated production lines.

    Besi’s profitability in Q1-25 remained at attractive levels despite ongoing weakness in mainstream assembly markets and expanded R&D investment in next generation assembly solutions for AI applications. Net income of € 31.5 million decreased 7.4% vs. Q1-24 primarily due to lower revenue and gross margins realized partially offset by an 8.9% decrease in operating expenses. Our gross margin has trended toward the lower end of our target range over the past three quarters due primarily to a less favorable product mix, particularly with respect to high-end smartphones, and net forex headwinds beginning in the second half of 2024 from adverse movements in some of our principal transaction currencies versus the euro. In addition, cash flow generation remains very positive with net cash at quarter end increasing 10.8% vs. Q4-24 to reach € 159.4 million.

    On April 14, Applied Materials announced a 9% ownership position in Besi. Besi and Applied Materials have been successfully collaborating since 2020 to co-develop the industry’s first fully integrated equipment solution for die-based hybrid bonding. The collaboration brings together Applied’s expertise in front-end wafer and chip processing with Besi’s leadership position in bonding accuracy and speed. We view their shareholding as a strategic, long-term investment and a further validation of our wafer level assembly technology and strategy.

    Our business development this year reflects the contrasting growth trends seen in the assembly equipment market between AI and mainstream applications. The timing and trajectory of a mainstream assembly upturn is more difficult to predict now given new tariff uncertainties. However, demand for advanced packaging for AI applications remains strong given upcoming new device introductions and use cases planned in the 2026-2028 time period. We continue to assess the potential impact of tariffs on Besi’s customers, supply chain and end user markets. For Q2-25, we forecast that revenue will be flat plus or minus 10% versus Q1-25 with gross margins in a range of 62%-64%. In addition, aggregate operating expenses are forecast to decrease 0-10% versus Q1-25 primarily due to a reduction in strategic consulting costs.”

    Share Repurchase Activity
    During the quarter, Besi repurchased approximately 187,000 of its ordinary shares at an average price of € 117.95 per share for a total of € 22.1 million. Cumulatively, as of March 31, 2025, a total of € 51.4 million has been purchased under the current € 100 million share repurchase plan at an average price of € 114.64 per share. As of March 31, 2025, Besi held approximately 2.0 million shares in treasury equal to 2.5% of its shares outstanding.

    Investor and media conference call
    A conference call and webcast for investors and media will be held today at 4:00 pm CET (10:00 am EDT). To register for the conference call and/or to access the audio webcast and webinar slides, please visit www.besi.com.
    Important Dates  
    •  Annual General Meeting of Shareholders April 23, 2025
    •  Investor Day/Amsterdam June 12, 2025
    •  Publication Q2/semi-annual results July 24, 2025
    •  Publication Q3/nine-month results October 23, 2025
    •  Publication Q4/full year results February 2026
       
    Dividend Information*  
    •  Proposed ex-dividend date April 25, 2025
    •  Proposed record date April 28, 2025
    •  Proposed payment of 2024 dividend Starting May 2, 2025
       

    * Subject to approval at Besi’s AGM on April 23, 2025

    Basis of Presentation
    The accompanying Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the European Union. Reference is made to the Summary of Significant Accounting Policies to the Notes to the Consolidated Financial Statements as included in our 2024 Annual Report, which is available on www.besi.com.

    Contacts:
    Richard W. Blickman, President & CEO
    Andrea Kopp-Battaglia, Senior Vice President Finance      
    Claudia Vissers, Executive Secretary/IR coordinator
    Edmond Franco, VP Corporate Development/US IR coordinator
    Michael Sullivan, Investor Relations
    Tel. (31) 26 319 4500
    investor.relations@besi.com

    About Besi
    Besi is a leading manufacturer of assembly equipment supplying a broad portfolio of advanced packaging solutions to the semiconductor and electronics industries. We offer customers high levels of accuracy, reliability and throughput at a lower cost of ownership with a principal focus on wafer level and substrate assembly solutions. Customers are primarily leading semiconductor manufacturers, foundries, assembly subcontractors and electronics and industrial companies. Besi’s ordinary shares are listed on Euronext Amsterdam (symbol: BESI). Its Level 1 ADRs are listed on the OTC markets (symbol: BESIY) and its headquarters are located in Duiven, the Netherlands. For more information, please visit our website at www.besi.com.

    Caution Concerning Forward Looking Statements
    This press release contains statements about management’s future expectations, plans and prospects of our business that constitute forward-looking statements, which are found in various places throughout the press release, including, but not limited to, statements relating to expectations of orders, net sales, product shipments, expenses, timing of purchases of assembly equipment by customers, gross margins, operating results and capital expenditures. The use of words such as “anticipate”, “estimate”, “expect”, “can”, “intend”, “believes”, “may”, “plan”, “predict”, “project”, “forecast”, “will”, “would”, and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The financial guidance set forth under the heading “Outlook” contains such forward-looking statements. While these forward-looking statements represent our judgments and expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from those contained in forward-looking statements, including any inability to maintain continued demand for our products; failure of anticipated orders to materialize or postponement or cancellation of orders, generally without charges; the volatility in the demand for semiconductors and our products and services; the extent and duration of the COVID-19 and other global pandemics and the associated adverse impacts on the global economy, financial markets, global supply chains and our operations as well as those of our customers and suppliers; failure to develop new and enhanced products and introduce them at competitive price levels; failure to adequately decrease costs and expenses as revenues decline; loss of significant customers, including through industry consolidation or the emergence of industry alliances; lengthening of the sales cycle; acts of terrorism and violence; disruption or failure of our information technology systems; consolidation activity and industry alliances in the semiconductor industry that may result in further increased customer concentration, inability to forecast demand and inventory levels for our products; the integrity of product pricing and protection of our intellectual property in foreign jurisdictions; risks, such as changes in trade regulations, conflict minerals regulations, currency fluctuations, political instability and war, associated with substantial foreign customers, suppliers and foreign manufacturing operations, particularly to the extent occurring in the Asia Pacific region where we have a substantial portion of our production facilities; potential instability in foreign capital markets; the risk of failure to successfully manage our diverse operations; any inability to attract and retain skilled personnel, including as a result of restrictions on immigration, travel or the availability of visas for skilled technology workers.

    In addition, the United States and other countries have recently levied tariffs and taxes on certain goods and could significantly increase or impose new tariffs on a broad array of goods. They have imposed, and may continue to impose, new trade restrictions and export regulations. Increased or new tariffs and additional taxes, including any retaliatory measures, trade restrictions and export regulations, could negatively impact end-user demand and customer investment in semiconductor equipment, increase Besi’s supply chain complexity and manufacturing costs, decrease margins, reduce the competitiveness of our products or restrict our ability to sell products, provide services or purchase necessary equipment and supplies. Any or all of the foregoing factor could have a material and adverse effect on our business, results of operations or financial condition. In addition, investors should consider those additional risk factors set forth in Besi’s annual report for the year ended December 31, 2024 and other key factors that could adversely affect our businesses and financial performance contained in our filings and reports, including our statutory consolidated statements. We expressly disclaim any obligation to update or alter our forward-looking statements whether as a result of new information, future events or otherwise.

    Consolidated Statements of Operations
     
    (€ thousands, except share and per share data) Three Months Ended
    March 31,
    (unaudited)
      2025 2024
         
    Revenue 144,145 146,314
    Cost of sales 52,423 48,043
         
    Gross profit 91,722 98,271
         
    Selling, general and administrative expenses 32,958 39,641
    Research and development expenses 19,502 17,919
         
    Total operating expenses 52,460 57,560
         
    Operating income 39,262 40,711
         
    Financial expense, net 2,959 589
         
    Income before taxes 36,303 40,122
         
    Income tax expense 4,797 6,143
         
    Net income 31,506 33,979
         
    Net income per share – basic 0.40 0.44
    Net income per share – diluted 0.40 0.44
         
    Number of shares used in computing per share amounts:    
    – basic 79,228,071 77,181,326
    – diluted 1 81,522,177 82,106,146

    _____________________________
    1) The calculation of diluted income per share assumes the exercise of equity settled share based payments and the conversion of all Convertible Notes outstanding

    Consolidated Balance Sheets
     
    (€ thousands) March
    31, 2025
    (unaudited)    		 December
    31, 2024
    (audited)
    ASSETS    
         
    Cash and cash equivalents 405,736 342,319
    Deposits 280,000 330,000
    Trade receivables 170,440 181,862
    Inventories 103,836 103,285
    Other current assets 46,099 40,927
         
    Total current assets 1,006,111 998,393
         
    Property, plant and equipment 42,868 44,773
    Right of use assets 15,161 15,726
    Goodwill 45,610 46,010
    Other intangible assets 98,622 96,677
    Deferred tax assets 29,240 31,567
    Other non-current assets 1,347 1,330
         
    Total non-current assets 232,848 236,083
         
    Total assets 1,238,959 1,234,476
         
         
         
    Bank overdraft 840 776
    Current portion of long-term debt – 2,042
    Trade payables 46,598 52,630
    Other current liabilities 111,170 111,531
         
    Total current liabilities 158,608 166,979
         
    Long-term debt 525,493 525,653
    Lease liabilities 11,770 12,350
    Deferred tax liabilities 10,416 10,320
    Other non-current liabilities 19,328 17,910
         
    Total non-current liabilities 567,007 566,233
         
    Total equity 513,344 501,264
         
    Total liabilities and equity 1,238,959 1,234,476
    Consolidated Cash Flow Statements
     
    (€ thousands) Three Months Ended March 31,
    (unaudited)
    		  
      2025   2024  
         
    Cash flows from operating activities:    
         
    Income before income tax 36,303   40,122  
         
    Depreciation and amortization 7,307   6,813  
    Share based payment expense 4,441   16,900  
    Financial expense, net 2,959   589  
         
    Changes in working capital (2,113 ) (3,251 )
    Interest (paid) received (2,887 ) 1,169  
    Income tax (paid) received (1,575 ) (2,089 )
         
    Net cash provided by operating activities 44,435   60,253  
         
    Cash flows from investing activities:    
    Capital expenditures (1,733 ) (5,650 )
    Capitalized development expenses (6,737 ) (4,663 )
    Repayments of (investments in) deposits 50,000   10,000  
         
    Net cash provided by (used in) investing activities 41,530   (313 )
         
    Cash flows from financing activities:    
    Proceeds from bank lines of credit 64   –  
    Payments of lease liabilities (1,114 ) (1,043 )
    Purchase of treasury shares (22,064 ) (14,779 )
         
    Net cash provided by (used in) financing activities (23,114 ) (15,822 )
         
    Net increase (decrease) in cash and cash equivalents 62,851   44,118  
    Effect of changes in exchange rates on cash and cash equivalents 566   (542 )
    Cash and cash equivalents at beginning of the period 342,319   188,477  
         
    Cash and cash equivalents at end of the period 405,736   232,053  
    Supplemental Information (unaudited)
    (€ millions, unless stated otherwise)
     
    REVENUE Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                         
    Per geography:                    
    China 40.5   28 % 42.8   28 % 45.5   29 % 57.5   38 % 58.5   40 %
    Asia Pacific (excl. China) 56.3   39 % 53.5   35 % 51.6   33 % 54.1   36 % 43.6   30 %
    EU / USA / Other 47.3   33 % 57.1   37 % 59.5   38 % 39.6   26 % 44.2   30 %
                         
    Total 144.1   100 % 153.4   100 % 156.6   100 % 151.2   100 % 146.3   100 %
                         
    ORDERS Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                         
    Per geography:                    
    China 39.7   30 % 40.4   33 % 45.4   30 % 43.3   23 % 51.1   40 %
    Asia Pacific (excl. China) 51.7   39 % 38.8   32 % 69.3   46 % 72.0   39 % 45.0   35 %
    EU / USA / Other 40.5   31 % 42.7   35 % 37.1   24 % 69.9   38 % 31.6   25 %
                         
    Total 131.9   100 % 121.9   100 % 151.8   100 % 185.2   100 % 127.7   100 %
                         
    Per customer type:                    
    IDM 48.1   36 % 61.2   50 % 84.5   56 % 122.4   66 % 53.5   42 %
    Foundries/Subcontractors 83.8   64 % 60.7   50 % 67.3   44 % 62.8   34 % 74.2   58 %
                         
    Total 131.9   100 % 121.9   100 % 151.8   100 % 185.2   100 % 127.7   100 %
                         
    HEADCOUNT Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024
                         
    Fixed staff (FTE) 1,820   88 % 1,812   93 % 1,807   87 % 1,783   86 % 1,760   88 %
    Temporary staff (FTE) 251   12 % 134   7 % 271   13 % 279   14 % 236   12 %
                         
    Total 2,071   100 % 1,946   100 % 2,078   100 % 2,062   100 % 1,996   100 %
                         
    OTHER FINANCIAL DATA Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                         
    Gross profit 91.7   63.6 % 98.2   64.0 % 101.2   64.7 % 98.3   65.0 % 98.3   67.2 %
                         
                         
    Selling, general and admin expenses:                    
    As reported 33.0   22.9 % 28.6   18.6 % 27.3   17.4 % 30.5   20.2 % 39.6   27.1 %
    Share-based compensation expense (4.4 ) -3.1 % (2.9 ) -1.8 % (3.4 ) -2.1 % (6.9 ) -4.6 % (16.9 ) -11.6 %
                         
    SG&A expenses as adjusted 28.6   19.8 % 25.7   16.8 % 23.9   15.3 % 23.6   15.6 % 22.7   15.5 %
                         
                         
    Research and development expenses:                    
    As reported 19.5   13.5 % 19.0   12.4 % 18.9   12.1 % 18.5   12.2 % 17.9   12.2 %
    Capitalization of R&D charges 6.7   4.6 % 5.4   3.5 % 4.4   2.8 % 4.9   3.2 % 4.7   3.2 %
    Amortization of intangibles (3.7 ) -2.5 % (3.9 ) -2.5 % (3.9 ) -2.5 % (3.6 ) -2.3 % (3.6 ) -2.4 %
                         
    R&D expenses as adjusted 22.5   15.6 % 20.5   13.4 % 19.4   12.4 % 19.8   13.1 % 19.0   13.0 %
                         
                         
    Financial expense (income), net:                    
    Interest income (5.0 )   (5.1 )   (5.2 )   (3.0 )   (4.0 )  
    Interest expense 6.3     6.1     5.7     2.1     2.8    
    Net cost of hedging 1.8     2.0     1.9     1.4     1.6    
    Foreign exchange effects, net (0.1 )   0.9     (0.8 )   0.5     0.2    
                         
    Total 3.0     3.9     1.6     1.0     0.6    
                         
                         
    Operating income (as % of net sales) 39.3   27.2 % 50.6   33.0 % 55.1   35.2 % 49.3   32.6 % 40.7   27.8 %
                         
    EBITDA (as % of net sales) 46.6   32.3 % 58.0   37.8 % 62.4   39.8 % 56.2   37.2 % 47.5   32.5 %
                         
    Net income (as % of net sales) 31.5   21.9 % 59.3   38.6 % 46.8   29.9 % 41.9   27.7 % 34.0   23.2 %
                         
    Effective tax rate 13.2 %   -27.0 %   12.6 %   13.0 %   15.3 %  
                         
                         
    Income per share                    
    Basic 0.40     0.75     0.59     0.53     0.44    
    Diluted 0.40     0.74     0.59     0.53     0.44    
                         
    Average shares outstanding (basic) 79,228,071   79,402,192   79,630,787   79,281,533   77,181,326  
                         
    Shares repurchased                    
    Amount 22.1     22.4     27.8     14.8     14.8    
    Number of shares 186,869   198,450   230,807   105,042   101,049  
                         
                         
    Gross cash 685.7     672.3     637.4     257.2     447.1    
                         
    Net cash 159.4     143.8     110.7     74.4     180.9    
                         

    The MIL Network –

  • MIL-OSI United Kingdom: All singing, all dancing at Portsmouth SEND Local Offer Live

    Source: City of Portsmouth

    Families in Portsmouth are invited to a special event at Cosham Community Centre on Wednesday 30 April from 10:30am to 2:30pm for Local Offer Live.

    Organised by Portsmouth City Council, the event brings together services and groups who support families who have children and young people aged 0-25 with special educational needs and/or disabilities (SEND).

    Parents/carers can also take part in free dance and performance workshops with their children at the event.

    Councillor Nick Dorrington, Cabinet Member for Children, Families and Education at Portsmouth City Council said:

    “Local Offer Live provides families with the information they need to live happy and healthy lives in the city. Community groups and services come together to offer advice and signpost individuals.

    “The introduction of Boogie Mites and Identical Dance helps families to have fun and be active together. These sessions are free and a great way to meet other parents/carers.”

    Identical Dance is a unique performance group where children are encouraged to be themselves and make new friends. Their session will take place at 11:15am with families invited to learn simple techniques to dance at home.

    Boogie Mites is an interactive music and dance group exclusively for families of children and young people with additional needs. This workshop will take place at 12:30pm. The session gives children the creative flair to dance to music through easy-to-follow routines.

    Families will need to arrive before the workshop begins as sessions will start promptly. Trained facilitators will be available during each session to support everyone.

    Local Offer Live is one-way parents/carers and professionals can learn more about services in the city with 20 exhibitors in attendance on the day.

    For those who are unable to make the event, the Portsmouth SEND Local Offer website is a comprehensive resource designed to support children and young people aged 0-25 with special educational needs and disabilities (SEND). The website provides detailed information about the services and support available in the PO1 – PO6 area.

    For more information on Local Offer Live and to register for a ticket, please visit portsmouthlocaloffer.org.uk/live.

    MIL OSI United Kingdom –

  • MIL-OSI Russia: A well-appointed space for recreation and sports will appear in the Presnensky district under the KRT program

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    In Presnensky District, a land plot will be reorganized under the program of integrated development of territories (IDT). The corresponding draft resolution posted on the Moscow Government website. This was reported by the Minister of the Moscow Government, head of the capital’s Department of City Property Maxim Gaman.

    “According to the KRT project, it is planned to reorganize a 0.48-hectare site between Khodynskaya and Presnensky Val streets. As a result, the territory will be transformed into a comfortable, well-appointed public space, which will also include an open area for sports. The site will be landscaped and provided with a convenient street and road network. The territory will become part of an already established residential area near the Ulitsa 1905 Goda metro station,” said Maxim Gaman.

    This is already the second project in the Presnensky district within the framework of the integrated development program of territories. In total, it is planned to reorganize 1.24 hectares of land here.

    According to the KRT program, multifunctional city blocks are created, where roads, comfortable housing and all the necessary infrastructure are designed on the site of former industrial zones and inefficiently used areas. Currently, 302 KRT projects with a total area of about 4.2 thousand hectares are at various stages of development and implementation in the capital. This work is underway on behalf of Sergei Sobyanin.

    Get the latest news quicklyofficial telegram channel the city of Moscow.

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/153009073/

    MIL OSI Russia News –

  • MIL-OSI Russia: How capital companies use trenchless technologies for the benefit of the city

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    The underground communications system in the capital is updated every year. Specialists from the Moscow City Services Complex build additional pipelines, repair and modernize existing ones, and also lay networks to new buildings and infrastructure facilities.

    “Ten years ago, all these processes were accompanied by large excavations: large sections of streets where work was carried out were restricted for residents and cars. Now the situation is completely different. Specialists only need to fence off a small section that will not interfere with the movement of people. All thanks to the so-called trenchless technologies that many capital enterprises use in their work: GUP Mosvodostok, AO Mosvodokanal, AO Mosgaz, AO OEK and others,” said the head of the Department of Housing and Public Utilities of the city of Moscow

    Rais Chiglikov.

    Instead of three months of work – a couple of weeks

    One of the modern methods of repairing or reconstructing a pipeline is called sanation. A fiberglass sleeve is pulled into the old pipe. It is impregnated with special resins that harden under ultraviolet radiation. The thin walls of the sleeve fit very tightly to the inner walls of the old pipe. The high strength of the material significantly increases the load-bearing capacity of the pipeline, and because the sleeve has less friction, more water can leak.

    The rehabilitation does not require excavation work, does not interfere with transport and pedestrians, and does not affect other communications. Public utilities do not have to damage the urban space.

    Every year, Mosvodostok renews dozens of kilometers of pipes with the help of rehabilitation. In total, the company operates a drainage network with a total length of more than nine thousand kilometers. This is the same as the distance from Moscow to Vladivostok. Thanks to trenchless technology, today all drainage repair work takes several weeks. Previously, it took about three months to achieve a similar result.

    With minimal human intervention

    In order to avoid digging trenches along the entire route of the gas pipeline, Mosgaz specialists use horizontal directional drilling (HDD) technology. It is especially relevant for work under water bodies and roads, on the territory of squares and parks, because there is no need to dig trenches for such excavation.

    The excavation is carried out using a drilling rig with a special removable tip that is connected to a flexible rod. It allows changing the direction during drilling. This is necessary to avoid collisions with obstacles in the ground.

    The tip has a built-in navigation device that controls and corrects the trajectory. After drilling is complete, the well is expanded with another tip, and finally a pipeline is pulled through.

    HDD technology is regularly used by JSC Mosvodokanal when laying pipelines, and by JSC OEK or PJSC Rosseti Moscow Region when laying power transmission cable lines.

    More than a kilometer without excavations

    Another trenchless technology allows for laying underground utilities in areas of historical development of the city or under river beds. It is called microtunneling. It is regularly used by Mosgaz JSC, including as part of a large-scale program for the reconstruction of siphon gas pipelines. It began in 2018. Work has already been completed on 10 out of 12 siphon gas pipelines.

    The excavation in the ground is carried out by a tunneling machine, the movement of which is provided by a powerful jacking station. It is installed in the initial shaft at a depth equal to the depth of the pipeline.

    A special laser guidance system ensures precise laying over long distances and allows for the installation of communications in areas with bends and other obstacles. At the same time, the entire process does not harm the environment and does not disrupt the existing landscaping.

    In this way, it is possible to construct a tunnel more than a kilometer long without digging additional shafts.

    Tunnels are laid with a shield

    For collectors built for the joint laying of heating and water supply pipelines, communication cables and electric cable lines, the shield tunneling method is used. A tunnel is dug using a tunnel boring machine (TBM), and then it is reinforced with monolithic and reinforced concrete blocks.

    The first stage is the arrangement of shafts at the beginning and end of the route. They are ventilated, supplied with electricity, and the area is prepared for soil haulage. Then the TPK is installed. The shield is continuously advanced from one shaft to another.

    At the final stage, the panel complex is dismantled in the receiving pit. Then they begin to build chambers with emergency exits, install internal collector life support systems and security systems. Such structures are serviced by JSC Moskollektor.

    Quickly find out the main news of the capital in the official telegram channel the city of Moscow.

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/153027073/

    MIL OSI Russia News –

  • MIL-OSI Russia: Voting has begun for the best drawings in the “Create a New Muscovite Card” competition

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    Department of Information Technology of the City of Moscow announced the start of the third stage of the competition “Create a new Muscovite card” – this is vote for the best drawings that will make it to the finals. It will last until May 4.

    “The theme of the competition turned out to be very interesting. We were worried in vain whether schoolchildren would like it, because we have already received more than 1.9 thousand applications and 2.3 thousand drawings. The jury faced a difficult task – to choose the most vivid and original illustrations. Now the city residents need to decide which of the 60 selected works will make it to the finals,” said Olesya Kuzmina, head of the “Muscovite Card” project.

    At the previous stage, the expert jury selected 30 works in each age category, which were shortlisted. Of these, on the competition page and in the services of the Active Citizen project, city residents will choose the drawings that will go to the finals in each age category – from seven to 10 years old and from 11 to 14 years old. And young Muscovites will be able to do this on the platform “Active Citizen for Children”The final stage will be voting, which will determine one winner of the Grand Prix of the competition, as well as winners of first, second and third places in each age group.

    The winners of the competition will be able to attend a tour and master classes at the Russian State University of Art and Industry named after S.G. Stroganov, they will also be presented with memorable gifts from the store of goods for creativity. The winner of the Grand Prix will have the opportunity to study at the Stroganov Children’s Academy of Design, and based on his competition illustration, a limited edition design of the Muscovite card will be developed.

    The announcement of the results and the awarding of the winners will take place on June 1 in the Smart City pavilion at VDNKh. An exhibition of drawings by the competition finalists will also be opened there. All the winners’ works will also be published on the competition website and in the Active Citizen project services.

    The Muscovite card with a unique design selected based on the results of the competition will be issued during the 2025/2026 academic year. It will be possible to apply for such a card from August 1, 2025 on the mos.ru portal. It will be available to children up to and including 14 years old who are receiving the card for the first time or are participants in the competition.

    The competition is held by the Department of Information Technology of the City of Moscow with the support of the Department of Culture of the City of Moscow and the State Institution “New Management Technologies”.

    Muscovite card — one of the main social projects of the capital. This is a personalized plastic card that is issued to residents of Moscow and provides them with personal access to the city infrastructure. It can be obtained by students schools and colleges, students, pensioners, people with disabilities, children and parents from large families, as well as other categories of citizens.

    You can find out more about the Muscovite card in telegram channel project, as well as from the mini-series “Moscow in Digital”.

    How to get a Muscovite card

    You can apply for a Muscovite card on the mos.ru portal. This requires a standard or full account. Children over 14 can do this on their own, but for children under 14, a parent or other legal guardian must apply for the service.

    You can check the status of the card production in your personal account on the mos.ru portal in the “Applications and notifications” section, using the service “Checking the readiness of the Muscovite card”, as well as by calling the hotline: 7 495 539-55-55 and in official groups on social networks “VKontakte” And“Classmates”.

    The Muscovite card will be ready within 30 days from the date of application. Notification about the possibility of receiving it will be sent to your personal account on the mos.ru portal and by e-mail. Preschoolers over seven years old, school and college students can pick up the ready card at the educational institution. Those who are studying in private schools or outside Moscow, as well as other preferential categories of citizens – at the selected center of state services “My Documents”.

    Receipt of a Muscovite card for a student must be confirmed in the personal account on mos.ru within 90 days. In other cases, this is not required.

    The creation, development and operation of the e-government infrastructure, including the provision of mass socially significant services, as well as other services in electronic form, correspond to the objectives of the national project “Data Economy and Digital Transformation of the State” and the regional project of the city of Moscow “Digital Public Administration”.

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/152998073/

    MIL OSI Russia News –

  • MIL-OSI: Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 May 2025 – Nykredit Realkredit A/S

    Source: GlobeNewswire (MIL-OSI)

    THIS ANNOUNCEMENT IS PUBLISHED PURSUANT TO SECTIONS 9(3)-(5) AND SECTION 21(3) OF EXECUTIVE ORDER NO. 636 OF 15 MAY 2020

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE DOING SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

    Publication of supplement concerning extension of offer period for Nykredit’s recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 May 2025

    23 April 2025

    Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 May 2025

    In accordance with section 4(1) of the Danish Takeover Order1, Nykredit Realkredit A/S (“Nykredit”) announced on 10 December 2024 that Nykredit intended to submit a voluntary public tender offer (the “Offer”) to acquire all shares in Spar Nord Bank A/S (“Spar Nord Bank”), with the exception of Spar Nord Bank’s treasury shares, for a cash price of DKK 210 per share, valuing the aggregated issued share capital of Spar Nord Bank at DKK 24.7 billion. As stated in the supplement dated April 2, 2025, the offer price has subsequently been increased to DKK 210.50 per share.

    On 8 January 2025, Nykredit published the offer document regarding the Offer (the “Offer Document”), as approved by the Danish FSA in accordance with section 11 of the Danish Takeover Order. In the Offer Document, the offer period was set to expire on 19 February 2025 at 23:59 (CET) (the “Initial Offer Period”). The Initial Offer Period was subsequently extended in supplements dated 18 February, 19 March and, most recently, 2 April 2025, where the offer period was extended to 24 April 2025 at 23:59 (CEST).

    Today, Nykredit published a supplement (the “Supplement”) to the Offer Document, which further extends the offer period for the Offer. The Supplement has been approved by the Danish FSA on 23 April 2025 in accordance with section 9(3)-(5) of the Danish Takeover Order. The Supplement should be read in conjunction with the Offer Document and the previous supplements.

    With this Supplement, Nykredit further extends the offer period, such that the Offer will expire on 20 May 2025 at 23:59 (CEST). Subsequently, any reference to the “Offer Period” in the Offer Document or other documents relating to the Offer will refer to the period commencing on the day of publication of the Offer Document on 8 January 2025 and ending on 20 May 2025 at 23:59 (CEST) (the “Extended Offer Period”).

    Nykredit has been informed by the Danish Competition and Consumer Authority that Nykredit’s merger notification regarding the Nykredit’s acquisition of sole control over Spar Nord Bank is considered complete as of 31 March 2025. Nykredit awaits the Danish Competition and Consumer Authority’s decision.

    The purpose of the extension is to provide Nykredit with time to obtain the approval from the Danish Competition and Consumer Authority required to complete the Offer. If the approval from the Danish Competition and Consumer Authority has not been granted by the expiry of the Extended Offer Period, Nykredit expects to extend the offer period further.

    The extension of the offer period entails that the expected completion of the Offer and settlement of the offer price to the Spar Nord Bank shareholders who have accepted the Offer will be extended correspondingly. Completion is subsequently expected to take place on 28 May 2025 (provided that the offer period is not extended further).

    At the time of this announcement, Nykredit holds 32.79 per cent of the shares in Spar Nord Bank.

    In the supplement dated 19 March 2025 to the Offer Document, Nykredit announced that a preliminary compilation of the acceptances that Nykredit had information about showed that, including the irrevocable undertakings, acceptances corresponding to more than 46 per cent of the share capital of Spar Nord Bank had been submitted, and that Nykredit’s ownership interest in Spar Nord Bank, together with the irrevocable undertakings and the binding acceptances submitted that Nykredit had information about, totalled more than 80 per cent of the total share capital (excluding treasury shares) of Spar Nord Bank, indicating that the 67 per cent acceptance limit stated in the Offer has been reached. The final result of the Offer will be determined on expiry of the offer period and published in accordance with section 21(3) of the Danish Takeover Order.

    Nykredit intends to delist Spar Nord Bank from trading on Nasdaq Copenhagen and complete a compulsory acquisition of the remaining Spar Nord Bank shareholders, provided that Nykredit has obtained the necessary ownership interest, and the Offer has been completed. Spar Nord Bank shareholders who have opted not to accept the Offer, should expect that Nykredit, provided that the Offer is completed, will take steps to combine Nykredit Bank A/S and Spar Nord Bank, which will result in a further increase in Nykredit’s ownership interest in Spar Nord Bank. Not later than in continuation of the combination, Nykredit thus expects to hold a sufficient ownership interest to be able to delist Spar Nord Bank from trading on Nasdaq Copenhagen and complete a compulsory acquisition of the remaining Spar Nord Bank shareholders.

    The full terms and conditions of the Offer are contained in the Offer Document as amended by the Supplement. The Offer Document and the Supplement are published in the Danish FSA’s OAM database: https://oam.finanstilsynet.dk/ and can also, with certain restrictions, be accessed at https://www.nykredit.com/kobstilbud-spar-nord/ and https://www.sparnord.dk/investor-relations/overtagelsestilbud.

    About Spar Nord Bank

    Spar Nord Bank was founded in 1824 and is now a nationwide bank with 58 branches. Spar Nord Bank offers all types of financial services, consultancy and products, focusing its business on retail customers and primarily small and medium-sized enterprises (SMEs) in the local areas in which the bank is represented. The bank is also focused on leasing operations and large corporate customers, which are both business areas handled by the head offices.

    Spar Nord Bank has historically been rooted in northern Jutland and continues to be a market leader in this region. However, in the period from 2002 to 2024, Spar Nord Bank has established and acquired branches outside northern Jutland. Over the course of the years, the bank has adjusted its branch network in an ongoing process and now has a nationwide distribution network comprising 58 branches. These 58 branches are distributed on 32 banking areas, each of which is headed by a manager reporting directly to the bank’s executive board.

    The Spar Nord Bank Group consists of two earnings entities: Spar Nord Bank’s branches and the Trading Division. As an entity, the Trading Division serves customers from Spar Nord Bank’s branches as well as large retail customers and institutional clients in the field of equities, bonds, fixed income and forex products, asset management and international transactions. Finally, under the concept Sparxpres, the bank offers consumer loans to personal customers through Sparxpres’ platform as well as debt consolidation loans and consumer financing via retail stores and gift voucher solutions via shopping centres and city associations.

    About Nykredit

    Nykredit Realkredit A/S (“Nykredit”) is a public limited company incorporated under the laws of Denmark, company reg. (CVR) no. 12 71 92 80, having its registered office at Sundkrogsgade 25, 2150 Nordhavn, Denmark. Nykredit is a mortgage credit institution and, together with its wholly-owned subsidiary Totalkredit A/S, is a market leader of the Danish mortgage credit market with a market share of some 45.2 per cent. Nykredit offers mortgage financing for private individuals and businesses.

    Nykredit is part of the Nykredit Group, which historically dates back to 1851. In addition to carrying on mortgage credit business, the Group carries on banking business through Nykredit Bank – including banking and wealth management operations – and has a total of around 4,000 employees in Denmark.

    Nykredit is owned by an association of the Nykredit Group’s customers, Forenet Kredit. Forenet Kredit owns close to 80 per cent of Nykredit’s shares. Other major shareholders are five Danish pension funds: Akademikernes Pension AP Pension, PensionDanmark, PFA and PKA.

    Nykredit is known for the advantages offered through the association. Forenet Kredit makes capital contributions to the Nykredit Group when times are good, and Nykredit has decided to pass these on to its customers.

    Since, 2017, Forenet Kredit has paid over DKK 8 billion in capital contributions to the Nykredit Group, and in the period to 2027, Forenet Kredit has provided a further DKK 7 billion.

    Questions and further information

    Any questions concerning the Offer may be directed to:

    Nykredit Bank A/S

    Company reg. (CVR) no.: 10 51 96 08

    Sundkrogsgade 25

    2150 Nordhavn
    Denmark

    Telephone: +45 7010 9000

    and

    Carnegie Investment Bank

    Filial af Carnegie Investment Bank AB (publ), Sverige

    Company reg. (CVR) no. 35 52 12 67

    Overgaden Neden Vandet 9B

    1414 Copenhagen K
    Denmark

    E-mail: annette.hansen@carnegie.dk

    For further information about the Offer, please see: https://www.nykredit.com/kobstilbud-spar-nord/.

    This announcement and the Offer Document (with supplements) are not directed at shareholders of Spar Nord Bank A/S whose participation in the Offer would require the issuance of an offer document, registration or activities other than what is required under Danish law (and, in the case of shareholders in the United States of America, Section 14(e) of, and applicable provisions of Regulation 14E promulgated under, the US Securities Exchange Act of 1934, as amended). The Offer is not made and will not be made, directly or indirectly, to shareholders resident in any jurisdiction in which the submission of the Offer or acceptance thereof would be in contravention of the laws of such jurisdiction. Any person coming into possession of this announcement, the Offer Document or any other document containing a reference to the Offer is expected and assumed to independently obtain all necessary information about any applicable restrictions and to observe these.

    This announcement does not constitute an offer or an invitation to purchase securities or a solicitation of an offer to purchase securities in accordance with the Offer or otherwise. The Offer will be submitted only in the form of the Offer Document (with supplements) approved by the FSA, which sets out the full terms and conditions of the Offer, including information on how to accept the Offer. The shareholders of Spar Nord Bank are advised to read the Offer Document and any related documents as they contain important information.

    Restricted jurisdictions

    The Offer is not made, and acceptance of the Offer to tender Spar Nord Bank shares is not accepted, neither directly nor indirectly, in or from any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction or would require any registration, approval or any other measures with any regulatory authority not expressly contemplated by the Offer Document (the “Restricted Jurisdictions”). Neither the United States nor the United Kingdom is a Restricted Jurisdiction.

    Restricted Jurisdictions include, but are not limited to: Australia, Canada, Hong Kong, Japan, New Zealand and South Africa.

    Persons obtaining documents or information relating to the Offer (including custodians, account holding institutions, nominees, trustees, representatives, fiduciaries or other intermediaries) should not distribute, communicate, transfer or send these in or into a Restricted Jurisdiction or use mail or any other means of communication in or into a Restricted Jurisdiction in connection with the Offer. Persons (including, but not limited to, custodians, custodian banks, nominees, trustees, representatives, fiduciaries or other intermediaries) intending to communicate this announcement, the Supplement, the Offer Document or any related document to any jurisdiction outside Denmark or the United States should inform themselves about these restrictions before taking any action. Any failure to comply with these restrictions may constitute a violation of the laws of such jurisdiction, including securities laws. It is the responsibility of all Persons obtaining this announcement, the Supplement, the Offer Document, earlier supplements, an acceptance form and/or other documents relating to the Offer, or into whose possession such documents otherwise come, to inform themselves about and observe all such restrictions.

    Nykredit is not responsible for ensuring that the distribution, dissemination or communication of this announcement, the Supplement or the Offer Document to shareholders outside Denmark, the United States and the United Kingdom is consistent with applicable law in any jurisdiction other than Denmark, the United States and the United Kingdom.

    Important Information for Shareholders in the United States

    The Offer concerns the shares in Spar Nord Bank, a public limited liability company incorporated and admitted to trading on a regulated market in Denmark, and is subject to the disclosure and procedural requirements of Danish law, including the Danish capital markets act and the Danish takeover order.

    The Offer is being made to shareholders in Spar Nord Bank in the United States in compliance with the applicable US tender offer rules under the U.S. Securities Exchange Act of 1934, as amended, (the “U.S. Exchange Act”), including Regulation 14E promulgated thereunder, subject to the relief available for a “Tier II” tender offer, and otherwise in accordance with the requirements of Danish law and practice

    Accordingly, US Spar Nord Bank shareholders should be aware that this announcement and any other documents regarding the Offer have been prepared in accordance with, and will be subject to, the disclosure and other procedural requirements, including with respect to withdrawal rights, the Offer timetable, settlement procedures and timing of payments of Danish law and practice, which may differ materially from those applicable under US domestic tender offer law and practice. In addition, the financial information contained in this announcement or the Offer Document has not been prepared in accordance with generally accepted accounting principles in the United States, or derived therefrom, and may therefore differ from, or not be comparable with, financial information of US companies.

    In accordance with the laws of, and practice in, Denmark and to the extent permitted by applicable law, including Rule 14e-5 under the U.S. Exchange Act, Nykredit, Nykredit’s affiliates or any nominees or brokers of the foregoing (acting as agents, or in a similar capacity, for Nykredit or any of its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase, or arrange to purchase, outside of the United States, shares in Spar Nord Bank or any securities that are convertible into, exchangeable for or exercisable for such shares in Spar Nord Bank before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases will be announced via Nasdaq Copenhagen and relevant electronic media if, and to the extent, such announcement is required under applicable law. To the extent information about such purchases or arrangements to purchase is made public in Denmark, such information will be disclosed by means of a press release or other means reasonably calculated to inform US shareholders of Spar Nord Bank of such information.

    In addition, subject to the applicable laws of Denmark and US securities laws, including Rule 14e-5 under the U.S. Exchange Act, the financial advisers to Nykredit or their respective affiliates may also engage in ordinary course trading activities in securities of Spar Nord Bank, which may include purchases or arrangements to purchase such securities.

    It may not be possible for US shareholders to effect service of process within the United States upon Spar Nord Bank, Nykredit or any of their respective affiliates, or their respective officers or directors, some or all of which may reside outside the United States, or to enforce against any of them judgments of the United States courts predicated upon the civil liability provisions of the federal securities laws of the United States or other US law. It may not be possible to bring an action against Nykredit, Spar Nord Bank and/or their respective officers or directors (as applicable) in a non-US court for violations of US laws. Further, it may not be possible to compel Nykredit and Spar Nord Bank or their respective affiliates, as applicable, to subject themselves to the judgment of a US court. In addition, it may be difficult to enforce in Denmark original actions, or actions for the enforcement of judgments of US courts, based on the civil liability provisions of the US federal securities laws.

    The Offer, if completed, may have consequences under US federal income tax and under applicable US state and local, as well as non-US, tax laws. Each shareholder of Spar Nord Bank is urged to consult its independent professional adviser immediately regarding the tax consequences of the Offer.

    NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY IN ANY STATE OF THE U.S. HAS APPROVED OR DECLINED TO APPROVE THE OFFER OR THIS ANNOUNCEMENT, PASSED UPON THE FAIRNESS OR MERITS OF THE OFFER OR PROVIDED AN OPINION AS TO THE ACCURACY OR COMPLETENESS OF THIS ANNOUNCEMENT OR ANY OFFER DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.

    1 Executive Order no. 636 of 15 May 2020

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  • MIL-OSI: Consensus estimates ahead of Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    Alm. Brand Group hereby publish consensus estimates prior to the announcement of the Q1 results.

    Consensus estimates are also available via: almbrand.dk

    Conference Call

    Alm. Brand Group will report its Q1 2025 results on May 1 at 07:30 CET and host a conference call with management at 11:00 CET on the day of release.

    Dial in for analysts and investors (pincode: 743033):

    Denmark: +45 89 87 50 45

    UK: +44 20 3936 2999

    USA: +1 646 664 1960

    Contact

    Please direct any questions regarding this announcement to:

    Investors and equity analysts:                         

    Mads Thinggaard – Head of IR, Rating & ESG Reporting – mobile no. +45 2025 5469                                                                                              

    Press:                                                                                           

    Mikkel Luplau Schmidt – Head of Media Relations – mobile no. +45 2052 3883

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  • MIL-OSI Economics: Danmarks Nationalbank has moved krone payments to the pan-european payment system

    Source: Danmarks Nationalbank

    23 April 2025

    This Easter, Danmarks Nationalbank successfully moved payments in Danish kroner from the Danish payment system Kronos2 to the pan-European system, TARGET Services.

    By joining TARGET Services, Danmarks Nationalbank is united with the central banks of the Eurosystem in protecting payment processing against persistent cyber threats.

    “We strengthen security by working together with other European central banks in the payments area. This is especially important at a time when the cyber threat is high and increasing,” says Governor Ulrik Nødgaard.

    Danes will not experience any changes on a day-to-day basis, but going forward their payments will be handled via a more robust and future-proof platform. Over time, the vision is that citizens will more directly experience benefits such as easier and cheaper access to instant payments across currencies.

    “Economically it’s also advantageous to share payments infrastructure across countries. The economies of scale in a centralised system will provide savings on the ongoing costs of operation, maintenance and further development,” says Ulrik Nødgaard.

    The Danish krone will be the first currency outside the euro to handle both payments and securities transactions on TARGET Services. Over time, more currencies are expected to join.

    Danmarks Nationalbank has been working towards the migration since 2020. The schedule has been met and the total costs, shared between Danmarks Nationalbank and the banking sector, are lower than originally anticipated.

    “The project has been realised in close collaboration with the Danish banking sector, the European Central Bank and other relevant parties. Throughout the process, the collaboration has been positive and purposeful, with a common focus and clear goals. The good dialogue and the sector’s support have helped ensure that the project has been completed within the agreed framework – in terms of both cost and time. I would like to thank everyone for that,” says Ulrik Nødgaard.

    The press can contact Communications and Press Officer Teis Hald Jensen on tel. +45 3363 6066 or

    FACTS:

    Since 2018, Danish securities transactions in Danish kroner have taken place in the European system for securities transactions. The system is called T2S and it is also part of TARGET Services.

    With the migration of the Danish krone to T2 and TIPS, the execution of payments and securities transactions in Danish kroner has been centralised on TARGET Services. Denmark is the first non-euro country to use T2, TIPS and T2S.

    Sveriges Riksbank is already on the instant payments system, TIPS, and decided in June 2024 to begin the process with the European Central Bank, ECB, for participation in the T2 liquidity management and payments system and the T2S securities transactions system.

    Norges Bank signed an agreement with the ECB in November 2024 to participate in TIPS and is also in discussions with the ECB about possible participation in T2.

    In September 2024, the Central Bank of Iceland announced that it has initiated an assessment of whether the Icelandic krona should join TARGET Services.

    Danish monetary policy will not be affected by the migration to TARGET Services. The existing monetary policy instruments used in the exercise of monetary policy by Danmarks Nationalbank are supported in the new infrastructure. These instruments are handled by Danmarks Nationalbank’s own system for monetary policy instruments and collateral.

    MIL OSI Economics –

  • MIL-OSI Europe: Danish krone now available in all TARGET Services

    Source: European Central Bank

    23 April 2025

    • Danish krone available for settlement in T2 and TIPS
    • TARGET Services provide safe and efficient financial market infrastructures for Danish financial markets
    • All TARGET Services now multi-currency

    As of 22 April 2025, Danish market participants are able to settle wholesale and retail payments in Danish krone instantly in the Eurosystem’s T2 and TARGET Instant Payment Settlement (TIPS) services. Following a successful migration, Danmarks Nationalbank has become the first non-euro area central bank to participate in all three TARGET Services with its currency. Settlement in Danish krone has already been available in TARGET2-Securities since 2018.

    By using T2 and TIPS, Danish financial markets will benefit from common standards with the euro area, optimised liquidity management and strengthened IT security, allowing efficient and secure real-time settlement of wholesale and retail payments.

    This achievement is a result of the close collaboration between Danmarks Nationalbank and the Eurosystem since the decision to join T2 and TIPS was taken in 2020. Danish market participants have been conducting testing campaigns and migration rehearsals since September 2023 to ensure full readiness for onboarding to the two systems.

    With the inclusion of Danish krone, T2 activated its multi-currency function for the first time. TIPS now supports three currencies: the euro, the Swedish krona, which was onboarded in 2024, and the Danish krone. Including other currencies in TARGET Services strengthens European integration and enhances financial market efficiency beyond the euro area. Sweden has expressed an interest in joining additional TARGET Services, while other non-euro area countries, such as Norway and Iceland, have also expressed an interest in joining TARGET Services with their respective national currencies. An added benefit of multi-currency infrastructures is the potential for safe and efficient cross-currency settlement. Danmarks Nationalbank, Sveriges Riksbank and the ECB are collaborating on the implementation of such cross-currency capabilities in TIPS.

    Danmarks Nationalbank applied to join T2 and TIPS in 2020, and the currency participation agreement was signed in 2024. TARGET Services are developed and operated by the Eurosystem and provide safe and efficient financial market infrastructure services in central bank money, which supports financial integration and the capital markets union. Including branches and subsidiaries, more than 40,000 banks worldwide and all their customers can be reached via T2, which every six days processes a value close to the entire euro area GDP. TIPS settles instant retail payments at any time of day and on any day of the year.

    For media queries, please contact Benoit Deeg tel.: +49 172 1683704.

    MIL OSI Europe News –

  • MIL-OSI Russia: The average payment period for government contracts to businesses in Moscow has been reduced to four working days

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    Over three years, the average payment period for government contracts in Moscow has decreased by more than 40 percent and now amounts to four working days. This increases the efficiency of procurement and contributes to the growth of the attractiveness of government orders for Moscow businesses. This was reported by Maria Bagreeva, Deputy Mayor of Moscow, Head of the Moscow Department of Economic Policy and Development.

    “The payment deadline for government contracts established by federal law is seven working days since 2022. In Moscow, by the end of 2024, it was reduced to an average of four working days. This was achieved thanks to the efficient operation of the contract system and the high level of digitalization of processes. Now entrepreneurs receive funds for delivered goods and performed work and services faster, which contributes to even greater involvement of businesses in government procurement and an increase in the volume of contracts concluded. Thus, in the first quarter of 2025, the city signed contracts with capital suppliers under 44-FZ for 345.3 billion rubles, which is more than 60 percent higher than the figure for the first quarter of 2022,” said Maria Bagreeva.

    The Moscow City Department for Competition Policy is conducting comprehensive work to attract entrepreneurs to the public procurement system. Reducing payment terms for contracts is just one of the tools for solving this problem.

    “The introduction of convenient electronic services and standard documentation contributes to the reduction of the main stages of the procurement cycle. In turn, the acceleration of processes increases the level of involvement of entrepreneurs in working with government procurement. Today, there are 24 suppliers per customer in the capital’s contract system, which ensures a high level of competition and enables state and municipal institutions to promptly receive high-quality goods, works and services,” noted the head of the Moscow City Department for Competition Policy Kirill Purtov.

    Moscow’s contract system consistently demonstrates high efficiency. Capital is in the lead in the National Procurement Transparency Rating. Thanks to the standardization of procedures, the introduction of digital technologies and the involvement of small businesses, Moscow state procurement ensures savings at all stages of the process.

    Get the latest news quicklyofficial telegram channel “City of Moscow”.

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    https: //vv.mos.ru/nevs/ite/152956073/

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  • MIL-OSI Russia: The capital is accepting applications for participation in the competition for entrepreneurs “You Can Do It!”

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    Moscow is accepting applications for the “You Can Do It!” competition for entrepreneurs. It is aimed at increasing business activity, replicating successful practices of scaling microbusinesses into small and medium ones, increasing the number of entrepreneurs in the capital and improving their image.

    Participation in the competition is free, you can submit an application on the State Budgetary Institution portal “Small Business of Moscow” (MBM). until May 12. Contestants must talk about their products or services, the benefits their activities bring to society and how they plan to develop their business. The jury will determine the winners in 12 nominations intended for entrepreneurs from various fields. These include:

    — “Beauty Creator” (services related to beauty and health);

    — “Moscow manufacturer” (the best brand of the “Made in Moscow” project);

    — “Entrepreneur with a Big Heart” (social business);

    — “Almost Picasso” (design);

    — “The Learned Cat” (tutoring and training);

    — “Network Expert” (franchise business);

    — “Maestro of Taste” (cleaning);

    — “Service owner” (tourism and hotel business);

    — “Sales Genius” (online sales and online stores);

    — “Fashion trendsetter” (services related to the production of clothing, footwear and accessories);

    — “Director of Experiences” (event organization);

    — “Jack of all trades” (household services and repairs).

    The winners will be named during Moscow Entrepreneurship Week. They will receive bonuses for promotion in the online classifieds service Avito Services, which is a co-organizer of the competition, as well as PR support from MBM in federal and regional media as part of the media project “Small Business – Big Stories”.

    The “You Can!” competition is being held for the third time. During its holding, more than 900 applications were submitted. In 2024, the most popular nominations among the participants were for entrepreneurs engaged in tutoring and training, providing services in the field of beauty and health, as well as for manufacturers of clothing, footwear, accessories and jewelry.

    Among the winners of last year was the master of Afro-braiding Larisa Malikova. She won in the nomination for entrepreneurs providing services in the beauty and health sector, which became a real breakthrough in her career. Thanks to the win, Larisa paid for the rent of the studio where she works with the prize money. She spent the money saved on professional development. Now she is mastering coloristics in order to introduce expert dreadlock coloring into her range of services. The story of her success was also told on the pages of the MBM media project “Small Business – Big Stories”, which attracted even more attention to her creativity and professionalism.

    Another winner of a well-deserved victory was Maria Maksimova, a talented entrepreneur and creator of a unique studio of life-size flowers. The “You Can Do It!” contest not only brought her recognition, but also became an impetus for the rapid growth of her business. Maria changed her status from self-employed to individual entrepreneur. In just a few months, she moved to a spacious premises, expanded her client base and began collaborating with major customers, bringing grandiose projects to life. Today, Maria’s works decorate significant events.

    The competition is being held as part of the implementation of the federal project “Small and medium entrepreneurship and support for individual entrepreneurial initiative”, which is part of the national project “Efficient and competitive economy”, as well as the Moscow Mayor’s strategy for supporting the capital’s entrepreneurship.

    State Budgetary Institution “Small Business of Moscow”, subordinate To the Department of Entrepreneurship and Innovative Development of the City of Moscow, helps people open and develop their own businesses in the capital. In business service centers, everyone can learn about financial and non-financial measures of state support.

    Free educational and business events are held for entrepreneurs: forums, seminars, trainings, conferences, which help to improve professional competencies and find like-minded people.

    You can also get advice on opening and running a business and learn more about current measures to support entrepreneurs in Moscow on the MBM website MBM.Mos.ru and by phone: 7 495 225-14-14.

    Get the latest news quickly official telegram channelthe city of Moscow.

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  • MIL-OSI Russia: Three houses for the implementation of the renovation program will appear in Nauchny Proezd under the KRT project

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    As part of the integrated development program (IDT) in the capital, a planning project for a 6.6-hectare site at 11a Nauchny Proezd has been approved. Residential buildings will be built here to implement the renovation program. This was reported by Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.

    “A residential block will be built on a site in the Cheryomushki area for the purposes of the renovation program. Three apartment buildings with built-in and attached non-residential premises will be erected there, as well as an administrative building for the city’s public utilities. In total, 173.9 thousand square meters of real estate are planned to be built on this site. As a result of the project, more than 330 jobs will be created,” said Vladimir Efimov.

    There are three metro stations within walking distance of the future residential area: Kaluzhskaya on the Kaluzhsko-Rizhskaya Line, Vorontsovskaya and Zyuzino on the Big Circle Line. The site will be reorganized by an operator appointed by the city from 2024.

    “In addition to the construction of real estate, it is planned to provide the quarter with a convenient street and road network. Thus, two new local streets will be built here and sections of Nauchny Proezd will be reconstructed with the installation of sidewalks. Work will also be carried out on the improvement and landscaping of the territories adjacent to the houses with a total area of almost one hectare,” noted the Minister of the Moscow Government, head of the capital’s Department of City Property

    Maxim Gaman.

    Housing for the implementation of the renovation program is being built not only on specially selected territories and on the site of previously resettled houses, but also on sites being reorganized under the KRT program.

    As noted by the Minister of the Moscow Government, head of the capital’s Department of Urban Development Policy Vladislav Ovchinsky, the total area of apartments in new buildings erected for the purposes of implementing the renovation program will be approximately 105.2 thousand square meters. New housing will be provided to about 3.5 thousand Muscovites. Elevators will be installed in the entrances, rooms for concierges and storage rooms for strollers and bicycles will be equipped.

    The first floors will be made non-residential. In the future, pharmacies, leisure and educational centers for children, private medical clinics and other social and domestic infrastructure facilities will open here.

    According to the program of integrated development of territories, multifunctional urban quarters are created, where roads, comfortable housing and all necessary infrastructure are designed on the site of former industrial zones and inefficiently used areas. Currently, 302 KRT projects with a total area of about 4.2 thousand hectares are at various stages of development and implementation in the capital. The work is underway on behalf of Sergei Sobyanin.

    Previously Sergei Sobyanin said on resettlement under renovation in Timiryazevsky district.

    Renovation program approved in August 2017. It concerns about a million Muscovites and provides for the resettlement of 5,176 houses. Sergei Sobyanin instructed to double the pace of implementation of the renovation program.

    Moscow is one of the leaders among regions in terms of construction volumes. High rates of housing construction correspond to the goals and initiatives of the national project “Infrastructure for life”.

    Get the latest news quicklyofficial telegram channel the city of Moscow.

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  • MIL-OSI Russia: Moscow embankments prepared for opening of navigation

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    Specialists of the city economy complex have prepared the embankments for the opening of navigation. This was reported by the Deputy Mayor of Moscow for housing and public utilities and improvement Petr Biryukov.

    “With the establishment of constant positive air temperatures during the daytime, work began to prepare the embankments for the spring-summer season and the opening of navigation. In total, 78 embankments were put in order, including those located in the city center – Kremlevskaya, Frunzenskaya, Kotelnicheskaya, Krymskaya, Prechistenskaya,” said Pyotr Biryukov.

    The complex of activities included works on cleaning and repair of structures. For example, specialists washed granite parapets, renewed approaches to the water and walking sidewalks. In addition, they performed sandblasting and painting of cast iron railings.

    In the summer, work will be carried out on several embankments of the capital to expand the joints of granite cladding. This will ensure the safe operation of the structures and prevent the displacement of the slabs.

    Quickly find out the main news of the capital in official telegram channelthe city of Moscow.

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  • MIL-OSI Russia: Blind children and business representatives will create the fragrance “Moscow Holidays”

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    At the perfume academy for blind children, opened on the basis of Center for Social Integration Diana Gurtskaya, a new series of master classes on creating fragrances has begun. Young Muscovites will learn the basics of the profession, take part in classes and develop their own composition called “Moscow Holidays”. This was reported by Anastasia Rakova, Deputy Mayor of Moscow for Social Development.

    “We are actively implementing and developing inclusive services and programs, thanks to which Muscovites with disabilities live a full life. Last year, we launched one of such projects based on the Diana Gurtskaya Social Integration Center. At the Perfume Academy, children with visual impairments not only reveal their creative abilities, but also get acquainted with the basics of the perfumer’s profession. Now the project is reaching a new level: as part of an in-depth course developed with business representatives, children will get acquainted with production, the professions of an evaluator, technologist, perfume stylist. Under the guidance of experienced mentors, the children will create the fragrance “Moscow Holidays”. The basis will be unique perfume compositions, which, according to the participants, convey the rhythm and character of Moscow,” noted Anastasia Rakova.

    The company “Avon Russia” is helping to implement the educational part of the course. The partner also plans to develop a cosmetic product based on the aroma and introduce it for sale.

    The business representatives have already held the first master class for young visually impaired perfumers and taught the children how to create unique fragrances for aroma diffusers. The professionals told the children how essential oils can affect their well-being and shared a recipe for an aromatic composition that can improve their mood.

    The perfume academy has created all the conditions for practice and creativity. The workshops are adapted for tactile work, and the wax molds, diffusers and fragrance bottles are labeled in Braille. Young perfumers have already developed a limited edition New Year’s series of candles “I See with My Heart”. It is based on a combination of citrus, pine and frosty morning aromas.

    Perfume Academy for Blind Children Opens in Capital

    The capital supports Muscovites with special needs at all stages of life, from birth to disability due to illness or injury.

    The city pays special attention to obtaining quality education and comprehensive rehabilitation of children with disabilities. There are eight rehabilitation and educational centers in Moscow, where about two thousand schoolchildren with special needs study.

    Diana Gurtskaya Social Integration Center— a unique rehabilitation organization for Russia and other CIS countries. Talented Muscovites with health problems aged from five to 35 years reveal their creative potential in one of five areas: theater, art, dance, vocal and instrumental. The center organizes international, all-Russian and city events and festivals for people with disabilities. Pupils of the institution regularly become winners, laureates of creative competitions, vocal and theater festivals, participants of international events.

    Get the latest news quickly official telegram channel the city of Moscow.

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  • MIL-OSI Russia: Panda Katyusha began living in the Moscow Zoo separately from her mother

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    Katyusha – my favorite Moscow Zoo and the first panda born in Russia, will turn one year and eight months old on April 24. Her mother, Dindin, has decided that Katyusha is old enough to live on her own.

    In the wild, bamboo bears take care of their cubs and feed them for up to one and a half to two years. Dinding was very sensitive to her daughter – she fed her milk, taught her caution, instilled all the necessary skills – for example, the ability to climb and group when falling. Then she taught Katyusha to eat bamboo, and at six months the little panda tried carrots. Now the cub’s diet includes everything an adult needs and everything necessary for full growth and development. Katyusha eats bamboo, carrots, sweet potatoes, apples and panda cakes – special steamed bread.

    “Now Dindin has decided that her cub has grown up and is ready to live separately. This moment comes suddenly and quickly for animals. One day, the female began to show the first signs of a fight for territory. She began to growl threateningly, snort and chase Katyusha away. These aggressive actions could be dangerous for the cub. Our zoologists contacted Chinese specialists, and they recommended that we separate the pandas, which was done,” said Svetlana Akulova, General Director of the Moscow Zoo.

    Katyusha has excellent indicators – she weighs 65 kilograms. For comparison: Dindin at this age was almost nine kilograms lighter. Katyusha also recently began to participate in veterinary training: she allows you to feel her belly, examine her teeth, and stand on the scales. She also learned this by repeating her mother’s movements.

    The design of the Fauna of China pavilion allows for rotation of the animals: now Katyusha and Dinding take turns walking in the outdoor enclosure. After some time, zoologists tried to connect the mother with the cub through a lattice gate, but the adult female began making threatening sounds again. Therefore, now the pandas remain in separate rooms.

    Moscow Zoo specialists believe that Katyusha is ready for independent life. But the baby will have a certain period of adaptation. Zoologists are closely monitoring the condition of these animals and are in constant contact with Chinese specialists from the Center for the Conservation and Study of Giant Pandas.

    You can watch how pandas live online at this page.

    The name for the first giant panda born in Russia chose Muscovites: The Moscow City Department of Culture and the Active Citizen project have prepared a special vote.

    The Moscow Zoo opened in 1864. Today it is one of the oldest zoos in Europe. It is under the jurisdiction of the capital’s Department of Culture.

    Sobyanin: Moscow Zoo takes first place in the world in species diversity

    Get the latest news quickly official telegram channel the city of Moscow.

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  • MIL-OSI Russia: Housing to be built on Simonovsky Val Street under the KRT renovation program — Moscow Mayor

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    A project for the reorganization of the territory of non-residential development in the Yuzhnoportovy District of the South-Eastern Administrative District has been approved. A plot of 0.44 hectares on Simonovsky Val will be occupied by modern housing for the purposes of the renovation program. This was reported in its telegram channel Sergei Sobyanin reported.

    “Previously, there were outdated objects here. Now, in their place, we will build 18.6 thousand square meters of real estate, improve the territory and update the street and road network. This is another step towards creating a comfortable urban environment. Today, 115 integrated development projects with an area of about 1.4 thousand hectares are being implemented in Moscow. As a result, city residents will receive more than 28 million square meters of modern real estate and over 334 thousand new jobs,” the Moscow Mayor wrote.

    Source: Sergei Sobyanin’s telegram channel @mos_sobyanin 

    Currently, the area between Bolshoy Simonovsky Lane and Melnikova Street at the address: Simonovsky Val Street, Building 9, Block 2 is occupied by outdated buildings.

    The urban development potential of the site near the Proletarskaya metro station is 18.6 thousand square meters of real estate. A modern residential complex will appear here for the purposes of the renovation program. In addition, landscaping of the territory and organization of the street and road network are planned.

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //vv.mos.ru/mayor/tkhemes/12649050/

    MIL OSI Russia News –

  • MIL-OSI Russia: NSU is the first in Russia to launch an educational course on product management with elements of artificial intelligence

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University –

    In February 2025, EhFaculty of Economics, Novosibirsk State University The course “Product Management” was launched. Its participants were final-year undergraduate students in the fields of “Business Informatics”, “Management” and “Economics”. This is the first course in Russia on such a topic, which pays special attention to the use of artificial intelligence. 60 students have already completed the course.

    — Product management is a relatively new discipline that emerged in the 21st century in the Silicon Valley startup environment. In Russia, it has only begun to gain popularity in the last ten years. Until recently, such courses were only available at the Higher School of Economics, ITMO University, and the Moscow branch of RANEPA. NSU was one of the first universities to introduce a full-fledged course on this topic, and the first to include a block on the use of artificial intelligence, — said Alexander Doronin, author of the course, NSU graduate, product manager at LC Group, a company specializing in the development of fintech solutions.

    The object of study of the discipline is primarily IT products – solutions created on the basis of program code. Today, digital products play a key role in both online and offline business. Their development, integration into business processes and promotion on the market require a comprehensive approach, and understanding these processes is becoming an important competitive advantage for specialists of various profiles.

    The course program covers key aspects of product management, including product marketing, product research, A/B testing, and unit economics. Particular attention is paid to the use of artificial intelligence: individual classes are devoted to the use of large language models and other machine learning technologies in product development, which is an important difference between the course and other similar ones that already exist in Russia.

    — As part of one of the classes, my students and I went through the entire product research cycle and tried using AI at different stages. As a result, the students developed an understanding of the tasks in which AI is really useful, and which tasks are better solved independently for now. For example, at the stage of preparation for the study, AI can help in composing questions for a problem interview if the prompt (request for the neural network) describes the respondent’s portrait well. When conducting the interviews themselves, you shouldn’t count on AI: most often, AI plays along with the interlocutor, agrees with everything and gives extremely expected answers to questions. An interview with a live interlocutor allows you to collect much more insights. After the interview, AI can be useful for systematizing the results. For example, as part of the course, my students and I built a User Story Map, and the AI did an excellent job of writing the stories themselves, receiving the interview results as input, — explained Alexander Doronin.

    Another key advantage of the course is that it combines a systematic presentation of theory and many practical cases, including those from the author’s experience. Alexander Doronin has experience working with product teams both on the customer’s side and on the development side. The practical experience of the teacher allowed him to fill the course with real cases and tasks that specialists face in the market.

    The course duration is 16 pairs (32 classroom hours). As part of the course, students also complete a project assignment, which they will defend at the end of the semester in a differentiated test. Thus, taking into account independent practice, the course volume is 108 hours. So far, it is designed only for students of the Faculty of Economics. However, NSU does not rule out that in the future the course may be introduced in other faculties of the university.

    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: Q1 2025 Trading Update and Invitation to Earnings Call

    Source: GlobeNewswire (MIL-OSI)

    Oslo, 23 April 2025 – DNO ASA, the Norwegian oil and gas operator, will publish its Q1 2025 operating and interim financial results on 15 May at 07:00 (CET). A videoconference call with executive management will follow at 14:00 (CET). Today the Company provides an update on production, sales volumes and other selected information for the quarter.

    Volumes (boepd) 

    Gross operated production Q1 2025 Q4 2024 Q1 2024
    Kurdistan 82,081 74,163 76,310
    North Sea 8,864 6,602 –
           
    Net entitlement production Q1 2025 Q4 2024 Q1 2024
    Kurdistan 18,464 17,424 20,503
    North Sea 19,296 19,031 14,217
           
    Sales Q1 2025 Q4 2024 Q1 2024
    Kurdistan 18,464 17,424 20,503
    North Sea 16,981 17,088 17,710
           
    Equity accounted production (net) Q1 2025 Q4 2024 Q1 2024
    Côte d’Ivoire         3,375 2,994 3,323

    Selected cash flow items

    DNO’s share of crude oil from the Tawke license during the quarter has been sold to local buyers as the Iraq-Türkiye Pipeline remained closed. All payments are made in advance of loadings with the vast majority transferred directly into DNO’s international bank accounts.

    In the first quarter, DNO paid a dividend of NOK 0.3125 per share (totaling USD 27.4 million), which represents NOK 1.25 per share on an annualized basis. The Company had no tax payments or refunds during the quarter.

    In early March, DNO announced the transformative acquisition of Sval Energi Group AS and DNO subsequently paid a deposit of USD 22.5 million to the seller. The transaction is expected to be completed mid-year 2025.

    Also in March, DNO completed the private placement of USD 600 million of new five-year senior unsecured bonds. The early redemption of another bond, DNO04 (originally maturing in 2026), was completed on 10 April and did not impact the Q1 2025 cash flow.

    North Sea exploration

    DNO participated in two discoveries on the Norwegian Continental Shelf in the quarter, with combined recoverable resources of 26 million barrels of oil equivalent net to DNO (mid-points of ranges). The Mistral well in PL1119 (10 percent interest) was spudded on 22 December and completed on 25 March, and the operated Kjøttkake well (including a sidetrack) in PL1182 S (40 percent interest) was spudded on 26 January and completed on 27 March. A third well, Horatio in PL1109 (20 percent interest), was spudded on 5 February, completed on 22 March, and was dry.

    Earnings call login details

    Please visit www.dno.no for login details ahead of the call.

    Disclaimer

    The information contained in this release is based on a preliminary assessment of the Company’s Q1 2025 operating and interim financial results and may be subject to change.

    –

    For further information, please contact:
    Media: media@dno.no
    Investors: investor.relations@dno.no

    –

    DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d’Ivoire, Netherlands and Yemen. More information is available at www.dno.no

    This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

    The MIL Network –

  • MIL-OSI: Coop Pank unaudited financial results for Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    By the end of the Q1 2025, Coop Pank had 213,000 customers, increased by 5,000 customers in the quarter (+2%) and by 23,000 in the year (+12%). The bank had 101,800 active customers, increased by 2,400 (+3%) in the quarter and by 17,400 (+21%) in the year.

    In Q1 2025, volume of deposits in Coop Pank decreased by 29 million euros (+2%), reaching total of 1.91 billion euros. Deposits from private clients increasing by 15 million euros: demand deposits increased by 9 million euros and term deposits increased by 6 million euros. Deposits from domestic business customers increased by 39 million euros: demand deposits increased by 36 million euro and term deposits increased by 3 million euros. Deposits from international deposit platform Raisin and other financing decreased by 24 million euros. Compared to Q1 2024, volume of Coop Pank’s deposits has increased by 221 million euros (+13%). In an annual comparison, share of demand deposits of total deposits has increased from 30% to 32%. In Q1 2025, the bank’s financing cost was 2.8%, at the same time last year the financing cost was 3.5%.

    In Q1 2025, net loan portfolio of Coop Pank increased by 44 million euros (+3%), reaching 1.81 billion euros. Business loans and home loans portfolio showed the biggest growth, both increased by 22 million euros (+3%). The volumes of leasing portfolio and consumer finance portfolio remained at the same level compared to the previous quarter. Compared to Q1 2024, total loan portfolio of Coop Pank has grown by 287 million euros (+19%).

    In Q1 2025, overdue loan portfolio of Coop Pank remained steady at the level 2.1%. A year ago, overdue loan portfolio was at the level of 2.4%.

    Impairment costs of financial assets in Q1 2025 were 0.2 million euros, which is 1.6 million euros (-88%) less than in previous quarter and 0.4 million euros (-61%) less than in Q1 2024.

    Net income of Coop Pank in Q1 2025 was 19.3 million euros, decreasing by 3% in a quarterly comparison and by 5% in an annual comparison. Operating expenses reached 9.5 million euros in Q1 – operating expenses decreased by 12% in the quarterly comparison and increased by 1% in the annual comparison.

    In Q1 2025, net profit of Coop Pank was 7.9 million euros, which is 24% more than in the previous quarter and 13% less than a year ago. In Q1 2025, cost to income ratio of the bank was 49% and return on equity was 14.7%.

    As of 31 March 2025, Coop Pank has 35,200 shareholders.

    Margus Rink, Chairman of the Management Board of Coop Pank, comments the results:

    “In recent quarters, we have seen positive signs in the economic environment – a slowdown in inflation, declining interest rates, and stable energy prices. Unfortunately, the past few months have also brought news of trade wars, which mainly affect the global economy, but they have also caused concern among local businesses. At the end of last year, we saw that, after a long wait, entrepreneurs had dusted off their investment plans and started to take action again, now, however, we can once again sense a decline in their confidence.

    Despite this, the declining interest rate environment offers good opportunities for investment and reduces financing costs for both legal entities and private individuals. For the bank, it means a drop in interest income, which can only be compensated by growing business volumes.

    In the first quarter, Coop Pank grew its business volumes at twice the rate of market growth – with solid increases in the number of clients, as well as in deposits and the loan portfolio. By the end of the quarter, Coop Pank held a 6.3% market share in deposits and a 6.6% share in loans.

    Growth in business volumes, the high quality of the loan portfolio, and effective cost control resulted in a strong net profit for Coop Pank in the first quarter: 7.9 million euros. The bank’s cost-to-income ratio for Q1 was 49% and return on equity was 14.7%.

    According to recent research by Kantar Emor on the Net Promoter Score (NPS) of Estonia’s largest service companies, Coop Pank is the most recommended bank in Estonia.

    In March, Coop Pank issued covered bonds for the first time on the Irish Stock Exchange, in the amount of 250 million euros with a maturity of four years. This was the initial tranche of a 750 million euros covered bond program. The bank’s first international covered bond issuance provides Coop Pank with an additional long-term and stable funding source, which will be used to support the growth of businesses operating in Estonia.”

    Income statement, in th. of euros Q1 2025 Q4 2024 Q1 2024
    Net interest income 17 930 19 149 19 082
    Net fee and commission income 1 155 1 303 1 014
    Net other income 225 -483 125
    Total net income 19 310 19 969 20 221
    Payroll expenses -5 578 -6 007 -5 409
    Marketing expenses -358 -788 -533
    Rental and office expenses, depr. of tangible assets -807 -798 -795
    IT expenses and depr. of intangible assets -1 613 -1 731 -1 405
    Other operating expenses -1 162 -1 473 -1 286
    Total operating expenses -9 519 -10 798 -9 427
    Net profit before impairment losses 9 791 9 171 10 794
    Impairment costs on financial assets -226 -1 821 -576
    Net profit before income tax 9 565 7 351 10 218
    Income tax expenses -1 652 -957 -1 080
    Net profit for the period 7 913 6 393 9 138
           
    Earnings per share, eur 0,08 0,06 0,09
    Diluted earnings per share, eur 0,08 0,06 0,09
    Statement of financial position, in th. of euros 31.03.2025 31.12.2024 31.03.2024
    Cash and cash equivalents 564 441 343 678 380 644
    Debt securities 49 536 37 751 36 460
    Loans to customers 1 818 109 1 774 118 1 531 038
    Other assets 34 711 33 066 31 320
    Total assets 2 466 796 2 188 614 1 979 461
    Customer deposits and loans received 1 914 526 1 886 145 1 693 254
    Debt securities issued 250 250 0 0
    Other liabilities 19 096 27 683 27 698
    Subordinated debt 63 363 63 148 63 239
    Total liabilities 2 247 235 1 976 977 1 784 191
    Equity 219 561 211 637 195 270
    Total liabilities and equity 2 466 796 2 188 614 1 979 461

    The reports of Coop Pank are available at: https://www.cooppank.ee/en/reporting

    Coop Pank will organise a webinar on 23 April 2025 at 9:00 AM, to present the financial results of Q1 2025. For participation, please register in advance at: https://bit.ly/CP-veebiseminar-osalemine-23042025

    The webinar will be recorded and published on the company’s website www.cooppank.ee and on the YouTube channel.

    Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The bank has 213,000 daily banking clients. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The strategic shareholder of the bank is the domestic retail chain Coop Eesti, comprising of 320 stores.

    Additional information:
    Paavo Truu
    CFO
    Phone: +372 516 0231
    E-mail: paavo.truu@cooppank.ee

    Attachments

    The MIL Network –

  • MIL-OSI: VERAXA Biotech and Voyager Acquisition Corp. Announce Business Combination Agreement to Create Nasdaq-Listed Biopharmaceutical Company Advancing a Pipeline of Next-Generation Cancer Therapies

    Source: GlobeNewswire (MIL-OSI)

    • VERAXA’s Novel BiTAC Platform has the Potential to Deliver Multiple Next-Generation Solid Tumor Cancer Therapies, Including Novel Antibody-Drug Conjugate (“ADC”) and Bispecific T-cell Engager (“TCE”) Candidates, with Strong and Differentiated Clinical Profiles
    • Company Pursuing Multiple Strategic Partnerships and Licensing Opportunities in 2025 and 2026
    • Transaction Values VERAXA at a Pre-money Equity Value of $1.3 Billion
    • Actively Working with Existing and New VERAXA Investors to Raise a Crossover Financing Round, which is Expected to Close Ahead of the Business Combination, Alongside up to $253 Million in Cash Held in Trust
    • Business Combination is Expected to be Completed in the Fourth Quarter of 2025
    • A Joint Investor Presentation Providing an Overview of the Proposed Transaction can be Viewed: https://dealroadshow.com/e/VER2025

    ZURICH, Switzerland, and BROOKLYN, New York, April 23, 2025 (GLOBE NEWSWIRE) — VERAXA Biotech AG (“VERAXA” or the “Company”), an emerging leader in designing novel cancer therapies, and Voyager Acquisition Corp., a Cayman Islands exempted company and special purpose acquisition company targeting the healthcare sector (NASDAQ: VACH, “Voyager” or the “SPAC”), announced today that they have entered into a definitive business combination agreement (the “Business Combination Agreement”). The proposed business combination (the “Business Combination”) would create a publicly traded, clinical-stage biopharmaceutical company focused on the development of a comprehensive pipeline of next-generation cancer therapies. Upon closing of the transaction, VERAXA Biotech AG is expected to list on NASDAQ under the proposed ticker symbol “VERX.”

    VERAXA Overview

    VERAXA is advancing a premier drug discovery and development engine for ADCs and other novel antibody-based therapy concepts. Through Bi-Targeted Antibody Cytotoxicity (“BiTAC”), a powerful and scalable proprietary technology platform that enables a highly specific dual-marker approach, the Company is accelerating a pipeline of next-generation cancer therapies that have the potential to expand the therapeutic window of current solid tumor standard of care treatments through improved safety and efficacy profiles.

    The Company has recently widened the scope of its AI-enabled technology platform and is now actively pursuing two major drug modalities:

    • Next-generation bispecific antibody drug conjugates, BiTAC ADCs and bsADCs, and
    • Bi-specific antibodies targeting key immune cells, also called T cell engagers, or TCEs.

    Both therapeutic modalities represent highly active and growing markets within the cancer therapy sector, respectively. The global TCE market is projected to reach $112 billion in 2030 with a CAGR of >44%. Similarly, the global ADC market size is projected to reach $57 billion by 2030 with a CAGR of close to 30%.

    “VERAXA is committed to developing and delivering the next wave of safe and highly efficacious cancer therapies. Our platform technologies can be applied to empower multiple therapeutic strategies spanning next-generation antibody-drug conjugates including our BiTAC ADCs and bi-specific BiTAC immune cell engagers,” stated Christoph Antz, Ph.D., CEO and Co-Founder of VERAXA. “Side effects too often limit today’s cancer therapies and prevent doctors from applying optimal dose levels. Our latest platform innovation, the BiTAC format, is designed to specifically address this issue and create first-in-class drug candidates with unprecedented safety and efficacy.”

    VERAXA’s pipeline currently comprises nine discovery and development programs at various stages in development, including an active Phase 1 program in leukemia. The Company’s most advanced clinical asset, VX-A901, is a highly differentiated Fc-enhanced therapeutic antibody targeting FLT3 and has shown potent anti-cancer activity. VX-A901 has backbone therapy potential addressing different patient groups across several treatment lines and settings with a complementary Mechanism of Action to currently available treatment options. Through a two-fold approach of pursuing both internal innovation and strategic partnerships, the Company anticipates having a robust pipeline by 2029, including three proprietary development programs in the clinic and a growing portfolio of licensed assets.

    VERAXA is led by an experienced team headed by Chief Executive Officer Christoph Antz, Ph.D and Chief Business Officer Heinz Schwer, Ph.D., MBA., both serial entrepreneurs and former venture capital investors. The leadership team is supported by international scientific advisors including Prof. Dr. Ralf C. Bargou, a renowned immuno-oncology expert whose scientific work has contributed to the successful development of the first FDA-approved bispecific cancer therapy with blinatumomab.

    VERAXA Biotech’s majority shareholders are Xlife Sciences AG (SIX: XLS), a Swiss-based publicly listed life science incubator fund, the European Molecular Biology Laboratory (“EMBL”), and its technology transfer arm EMBLEM.

    “Voyager’s mission is to identify innovative healthcare companies positioned for long-term success with strong business models and expansive total addressable markets. VERAXA exemplifies all these compelling characteristics, underscored by a steadfast commitment to bring transformative drug modalities to cancer patients through pursuing strategic global partnerships and advancing its proprietary pipeline,” stated Adeel Rouf, Chief Executive Officer and Director of Voyager Acquisition Corp. “We believe that the rapid change that ADCs and bispecific therapies have delivered and will continue to deliver to cancer therapy creates compelling opportunities for those with the vision to capitalize on them.”

    “The planned NASDAQ listing of VERAXA Biotech marks a pivotal milestone for both VERAXA and Xlife Sciences and exemplifies our mission of bringing groundbreaking science from the lab to life – and to the market,” stated Oliver Baumann, Acting Chairman of the VERAXA Board and CEO of Xlife Sciences. “The access to the U.S. capital markets provided by this combination will support the realization of Veraxa’s powerful technology platform and clinical assets, paving the way for potential significant value creation. We are proud to have supported VERAXA from its inception and, as one of the Company’s largest shareholders, we are confident that this transaction will significantly accelerate its ability to deliver first-in-class therapies to patients worldwide.”

    “We believe next-generation ADCs and bispecifics will continue to revolutionize oncology, due to their significant improvement over standard of care treatments and higher probability of technical and regulatory success compared to other oncology drugs, as evidenced by multiple deals in excess of $1 billion each since 2023 in this space,” stated Warren Hosseinion, M.D., Chairman of the Board of Voyager Acquisition Corp. “VERAXA’s robust pipeline of drug candidates was developed by leveraging its next-generation technology platform approach to drug discovery, development, and delivery, which we believe has the potential to dramatically cut development costs and time.”

    Transaction Overview

    Under the terms of the Business Combination Agreement, VERAXA’s equity value contribution into the Business Combination will amount to approximately $1.3 billion. Accordingly, VERAXA’s shareholders will receive approximately 130 million ordinary shares of the combined company in exchange for their existing VERAXA shares. Existing VERAXA shareholders and management will not receive any cash proceeds as part of the transaction and will roll over 100% of their equity into the combined company.

    Assuming a share price of $10.00 per share and no redemptions of Voyager’s shares by Voyager’s public shareholders, VERAXA (as a combined entity) is expected to have an implied pro forma equity value of approximately $1.64 billion at closing.

    Upon the closing of the Business Combination, VERAXA anticipates access to approximately up to $253 million in cash held in trust by Voyager, prior to the payment of transaction costs of VERAXA and Voyager, and assuming no redemptions by Voyager’s public shareholders.

    Additionally, VERAXA is actively raising a crossover financing round from existing and new investors, which the Company expects to close prior to the completion of the Business Combination. Net proceeds from this capital raise are expected to provide VERAXA with sufficient capital for the next two years, not including various potential partnering and co-development opportunities.

    The boards of directors of both Voyager and VERAXA have unanimously approved the Business Combination. Voyager and VERAXA expect the Business Combination to close in the fourth quarter of 2025. The transaction is subject to approval of Voyager’s and VERAXA’s shareholders and the satisfaction of certain other customary closing conditions.

    Additional information about the transaction will be provided in a Current Report on Form 8-K that will contain an investor presentation to be filed with the Securities and Exchange Commission (“SEC”) and will be available at www.sec.gov. In addition, VERAXA intends to file relevant materials with the SEC, including a registration statement on Form F-4 (the “Registration Statement”) to be filed with the SEC, which will include a proxy statement/prospectus of Voyager, and will file other documents regarding the Business Combination with the SEC. This communication Is not intended to be, and is not, a substitute for the proxy statement/prospectus or any other document that Voyager has filed or may file with the SEC in connection with the Business Combination.

    Advisors

    Anne Martina Group is acting as sole M&A advisor to VERAXA. Duane Morris LLP is acting as legal counsel to VERAXA. Winston & Strawn LLP is serving as legal counsel to Voyager.

    Transaction Presentation Details

    A presentation providing further details on the transaction can be found here: https://dealroadshow.com/e/VER2025

    About VERAXA Biotech

    At VERAXA Biotech, we are building a premier engine for the discovery and development of next-generation antibody-based therapeutics, including BiTAC antibody-drug conjugates (“BiTAC ADCs”), bispecific T cell engagers (“BiTAC TCEs”), and other innovative formats. Powered by a suite of transformative technologies and guided by rigorous quality-by-design principles, we are rapidly advancing our pipeline of ADCs and proprietary BiTAC formats into clinical development and beyond. VERAXA Biotech was founded on scientific breakthroughs made at the European Molecular Biology Laboratory (“EMBL”), a world-renowned institution known for pioneering life science research and cutting-edge technologies. For more information, please visit www.veraxa.com.

    About Voyager Acquisition Corp.

    Voyager Acquisition Corp. is a special purpose acquisition company with a bold mission: to revolutionize the healthcare sector through a merger, stock purchase, or business combination. Our team of experienced executives includes unparalleled expertise in investing, operations, and medical innovation, supported by a vast network of connections. With these strengths, we not only seek to drive success but commit to scaling companies to unprecedented heights in the healthcare industry. For more information, please visit https://www.voyageracq.com.

    About Xlife Sciences AG (SIX: XLS)

    Xlife Sciences is a Swiss company focused as incubator and accelerator on the value development and commercialization of promising research projects from universities and other research institutions in the life sciences sector, with the aim of providing solutions for high unmet medical needs and a better quality of life. The goal is to bridge research and development to healthcare markets. Xlife Sciences takes carefully selected projects in the four areas of technological platforms, biotechnology/ therapies, medical technology, and artificial intelligence/digital health to the next stage of development and participates in their subsequent performance. For more information, visit https://www.xlifesciences.ch/en/home

    Participants In the Solicitation

    Voyager, VERAXA, and their respective directors, executive officers, other members of management and employees may be deemed participants in the solicitation of proxies from Voyager’s stockholders with respect to the Business Combination. Investors and security holders may obtain more detailed information regarding the names and interests in the Business Combination of Voyager’s directors and officers in Voyager’s filings with the SEC, including, when filed with the SEC, the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus, amendments and supplements thereto, and other documents filed with the SEC. Such information with respect to VERAXA’s directors and executive officers will also be included in the proxy statement/prospectus. You may obtain free copies of these documents as described below under the heading “Additional Information and Where to Find It”.

    Non-Solicitation

    This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Voyager or VERAXA, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.

    Forward-Looking Statements

    This press release includes certain statements that may be considered forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include, without limitation, statements about future events or Voyager’s or VERAXA’s future financial or operating performance. For example, statements regarding VERAXA’s anticipated growth and the anticipated growth and other metrics, statements regarding the benefits of the Business Combination, and the anticipated timing of the completion of the Business Combination are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology.

    These forward-looking statements regarding future events and the future results of Voyager and VERAXA are based on current expectations, estimates, forecasts, and projections about the industry in which VERAXA operates, as well as the beliefs and assumptions of Voyager’s management and VERAXA’s management. These forward-looking statements are only predictions and are subject to, without limitation, (i) known and unknown risks, including the risks and uncertainties indicated from time to time in the final prospectus of Voyager relating to its initial public offering filed with the SEC, including those under “Risk Factors” therein, and other documents filed or to be filed with the SEC by Voyager; (ii) uncertainties; (iii) assumptions; and (v) other factors beyond Voyager’s or VERAXA’s control that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. They are neither statements of historical fact nor promises or guarantees of future performance. Therefore, VERAXA’s actual results may differ materially and adversely from those expressed or implied in any forward-looking statements and Voyager and VERAXA therefore caution against relying on any of these forward-looking statements.

    These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Voyager and its management, VERAXA and its management, as the case may be, are inherently uncertain and are inherently subject to risks, variability and contingencies, many of which are beyond Voyager’s or VERAXA’s control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement and any subsequent definitive agreements with respect to the Business Combination; (ii) the outcome of any legal proceedings that may be instituted against Voyager, VERAXA, or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (iii) the inability to complete the Business Combination due to the failure to obtain consents and approvals of the shareholders of Voyager, to obtain financing to complete the Business Combination or to satisfy other conditions to closing, or delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals required to complete the transactions contemplated by the Business Combination Agreement; (iv) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (v) projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, and the estimated implied enterprise value of VERAXA; (vi) VERAXA’s ability to scale and grow its business, and the advantages and expected growth of VERAXA; (vii) VERAXA’s ability to source and retain talent, the cash position of VERAXA following closing of the Business Combination; (viii) the ability to meet stock exchange listing standards in connection with, and following, the consummation of the Business Combination; (ix) the risk that the Business Combination disrupts current plans and operations of VERAXA as a result of the announcement and consummation of the Business Combination; (x) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of VERAXA to grow and manage growth profitably, maintain key relationships and retain its management and key employees; (xi) costs related to the Business Combination; (xii) changes in applicable laws, regulations, political and economic developments; (xiii) the possibility that VERAXA may be adversely affected by other economic, business and/or competitive factors; (xiv) VERAXA’s estimates of expenses and profitability; (xv) the failure to realize estimated shareholder redemptions, purchase price and other adjustments; and (xvi) other risks and uncertainties set forth in the filings by Voyager with the SEC. There may be additional risks that neither Voyager nor VERAXA presently know or that Voyager and VERAXA currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Any forward-looking statements made by or on behalf of Voyager or VERAXA speak only as of the date they are made. None of Voyager or VERAXA undertakes any obligation to update any forward-looking statements to reflect any changes in their respective expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

    Additional Information and Where to Find It

    In connection with the Business Combination, Voyager and/or VERAXA intend to file relevant materials with the SEC, including the Registration Statement, which will include a proxy statement/prospectus of Voyager, and will file other documents regarding the proposed transaction with the SEC. This communication is not intended to be, and is not, a substitute for the proxy statement/prospectus or any other document that Voyager has filed or may file with the SEC in connection with the proposed transaction. When available, the definitive proxy statement and other relevant materials for the proposed transaction will be mailed or made available to stockholders of Voyager as of a record date to be established for voting on the proposed transaction.

    Before making any voting or investment decision, investors and stockholders of Voyager are urged to carefully read, when they become available, the entire registration statement, the proxy statement/prospectus, and any other relevant documents filed with the SEC, as well as any amendments or supplements to these documents, and the documents incorporated by reference therein, because they will contain important information about Voyager, VERAXA, and the proposed transaction. Voyager’s investors and stockholders and other interested persons will also be able to obtain copies of the registration statement, the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus, other documents filed with the SEC that will be incorporated by reference therein, and all other relevant documents filed with the SEC by Voyager in connection with the Transaction, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to Voyager at the address set forth below.

    Contact

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