NewzIntel.com

Category: Finance

  • MIL-OSI Security: Vacaville Man Charged with Producing Child Sexual Abuse Material

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

    A federal grand jury returned a one-count indictment today against Michael Keith Rubino, 39, of Vacaville, charging him with producing child sexual abuse material, Acting U.S. Attorney Michele Beckwith announced.

    According to court documents, in October and November of 2024, Rubino engaged in multiple sex acts with a 17-year-old female victim. Rubino exploited his minor victim at a residence in Vacaville where Rubino lived. Rubino recorded numerous instances of his sexual abuse of his minor victim using his iPhone.

    This case is the product of an investigation by the Federal Bureau of Investigation, with assistance from the Vacaville Police Department. Assistant U.S. Attorney Sam Stefanki is prosecuting the case.

    If convicted, Rubino faces a minimum mandatory sentence of 15 years in prison and a maximum statutory penalty of 30 years in prison and a $250,000 fine. Any sentence, however, would be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables. The charges are only allegations; the defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt.

    This case was brought as part of Project Safe Childhood, a nationwide initiative launched in May 2006 by the Department of Justice to combat the growing epidemic of child sexual exploitation and abuse. Led by the United States Attorneys’ Offices and the Criminal Division’s Child Exploitation and Obscenity Section, Project Safe Childhood marshals federal, state, and local resources to locate, apprehend, and prosecute those who sexually exploit children, and to identify and rescue victims. For more information about Project Safe Childhood, please visit www.usdoj.gov/psc.

    MIL Security OSI –

  • MIL-OSI Security: Former Delivery Driver Pleads Guilty to Defrauding San Francisco Food Delivery Company of More Than $2.5 Million

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

    SAN JOSE – Sayee Chaitanya Reddy Devagiri pleaded guilty in federal court today to conspiring to steal more than $2.5 million from DoorDash, Inc., a San Francisco-based delivery company.

    Devagiri, 30, of Newport Beach, Calif., and three other defendants were indicted by a federal grand jury in August 2024.  Devagiri was charged with a single count of conspiracy to commit wire fraud in violation of 18 U.S.C. § 1349.  He pleaded guilty to that count today.

    In pleading guilty, Devagiri admitted to working with others in 2020 and 2021 to cause DoorDash to pay for deliveries that never occurred.  At the time, Devagiri was a delivery driver for DoorDash orders.  Under the scheme, Devagiri used customer accounts to place high value orders and then, using an employee’s credentials to gain access to DoorDash software, manually reassigned DoorDash orders to driver accounts that he and others controlled.  Devagiri then caused the fraudulent driver accounts to report that the orders had been delivered, when they had not, and manipulated DoorDash’s computer systems to prompt DoorDash to pay the fraudulent driver accounts for the non-existent deliveries.  Devagiri would then use DoorDash software to change the orders from “delivered” status to “in process” status and manually reassign the orders to driver accounts he and others controlled, beginning the process again.  This procedure usually took less than five minutes, and was repeated hundreds of times for many of the orders.

    The scheme resulted in fraudulent payments exceeding $2.5 million.

    Acting United States Attorney Patrick D. Robbins and Federal Bureau of Investigation (FBI) Special Agent in Charge Sanjay Virmani made the announcement.

    Devagiri is the third defendant to be convicted for his role in this conspiracy.  Co-defendant Manaswi Mandadapu pleaded guilty to conspiracy to commit wire fraud on May 6, 2025.  Tyler Thomas Bottenhorn, who was separately charged, pleaded guilty on Nov. 7, 2023.

    Devagiri is next scheduled to appear before U.S. District Judge Beth Labson Freeman for a status hearing on Sept. 16, 2025.  He faces a maximum statutory penalty of 20 years in prison and a fine of $250,000.  Any sentence will be imposed by the court only after consideration of the U.S. Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. § 3553.

    Assistant U.S. Attorney Michael G. Pitman is prosecuting the case with the assistance of Sahib Kaur.  The prosecution is the result of an investigation by the FBI. 
     

    MIL Security OSI –

  • MIL-OSI Russia: France: Staff Concluding Statement of the 2025 Article IV Mission

    Source: IMF – News in Russian

    A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

    The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.

    Paris, France – May 22, 2025

    An International Monetary Fund (IMF) mission, led by Manuela Goretti and comprising Florian Misch, Rasmane Ouedraogo, Maryam Vaziri, and Torsten Wezel, conducted discussions during May 12-22 for the 2025 Article IV Consultation with France. At the end of the visit, the mission issued the following statement:

    The French economy has demonstrated resilience despite high uncertainty, with disinflation progressing well and the labor market remaining robust. However, high and rising public debt, combined with significant domestic and external headwinds to the recovery, highlights the need to strengthen public finances and pursuing structural reforms to foster sustainable growth. The French authorities’ commitment to bring the deficit below 3 percent of GDP by 2029 is welcome and should be supported by a credible and well-designed package of measures. Advancing France’s structural reform agenda will be crucial to boost productivity and facilitate fiscal consolidation. While the financial sector remains resilient, strong supervisory practices need to continue adapting to an increasingly complex financial landscape. France’s sustained efforts to deepen the European single market remain critical to support the economy and strengthen its ability to withstand shocks.

    Economic Outlook

    High domestic and external uncertainty is expected to continue weighing on the short-term economic outlook. Real GDP growth is projected to slow to 0.6 percent in 2025 and reach 1 percent in 2026. These projections reflect a delayed recovery in private consumption and investment due to weak confidence and fiscal tightening this year, despite some uplift from monetary policy easing. Weaker external demand, amid trade tensions, market volatility, and geo-economic uncertainty, is expected to further dampen exports and investment prospects. These projections are based on the April World Economic Outlook global assumptions and do not reflect the latest trade policy announcements. Over the medium term, growth is projected to converge to around 1.2 percent, before decelerating towards its long-term potential of 1 percent reflecting both demographic trends and need for further structural reforms. The disinflationary process is progressing well, with average headline inflation projected at 1.2 percent in 2025, due to base effects and lower energy prices, and core inflation at 1.9 percent.

    The outlook remains subject to significant downside risks, notwithstanding potential upsides. Deepening geoeconomic fragmentation and rising trade tensions could disrupt trade and financial flows and dampen economic activity. In such an environment, uncertainty would increase, and financial conditions could tighten further, reducing domestic demand and worsening debt dynamics. Political fragmentation and social tensions could delay fiscal consolidation and reform efforts, further weighing on confidence and the outlook, raising fiscal risks. On the upside, easing trade tensions and renewed structural reform momentum could improve growth prospects over the medium term. Domestic reforms could be strengthened through deeper coordination and integration at the EU level. Consumption could be stronger if household saving rates eased more rapidly on the back of dissipating uncertainty. Business investment and export performance could also surprise on the upside, driven by higher demand—in France and in the rest of Europe—including for defense as well as digital and green technologies.

    Fiscal Policy: Reducing Debt while Refocusing Spending Priorities

    Building on the 2025 budget, the authorities are committed to implementing their Medium-term Fiscal Structural Plan (MTFSP) to bring the deficit below 3 percent of GDP by 2029. While the envisaged adjustment is appropriate to improve debt dynamics and strengthen France’s resilience to shocks, it needs to be supported by a credible and well-designed package of measures and remains subject to implementation risks, as evidenced by recent setbacks. Under staff’s current policy baseline scenario, which incorporates only legislated and clearly specified measures, the deficit is projected to decline to 5.4 percent of GDP in 2025, in line with the budget target. However pending approval of significant additional measures, it would remain around 6 percent of GDP in the medium-term, keeping debt on an upward trend until 2030. While short-term risks remain manageable, debt dynamics have weakened significantly, following consecutive fiscal slippages in 2023 and 2024, and remain highly sensitive to the real interest rate and growth path. In this context, France’s commitment to undertake further fiscal consolidation, as per EU rules, represents an important mitigating factor.

    Significant additional fiscal efforts will be crucial to preserve fiscal space and create room to absorb rising spending demands, while placing debt on a downward path. Staff recommends a frontloaded structural fiscal effort of 1.1 percent of GDP in 2026, followed by an average of about 0.9 percent of GDP per year over the medium term, broadly in line with the authorities’ plans. The recommended adjustment would allow the country to exit the excessive deficit procedure by end-2029, as targeted. Staff’s debt sustainability analysis indicates that the recommended fiscal path would markedly reduce medium-term debt sustainability risks, with the debt-stabilizing primary balance being reached in 2027.

    Achieving this substantial fiscal consolidation will require decisive actions and difficult decisions to ensure equity and fairness amid challenging trade-offs:

    • Given France’s already high tax-to-GDP ratio, any new tax measures should be focused on reducing inefficient tax expenditures and tackling tax avoidance while improving equity. While exceptional temporary revenue measures can help kickstart much needed fiscal adjustment, France’s level of taxation—among the highest in the EU—indicates that sustained tax-based fiscal consolidation, of the magnitude necessary to advance France’s medium-term plans, would hamper business confidence, household consumption, and growth potential. Building on recent experiences, the authorities should continue to monitor and evaluate tax expenditure programs to address inefficiencies vis-à-vis intended objectives and generate savings. This approach would also simplify the tax system and facilitate revenue forecasting.

    • The authorities should focus on rationalizing spending and strengthening its efficiency, with concerted action across all government levels: central government, social security, and local governments. France has the highest spending-to-GDP ratio among EU countries. There are several avenues to rationalize spending and improve its quality, while preserving growth-enhancing investment in key priority areas and mitigating distributional impacts on the most vulnerable. The planned expansion of spending reviews and efforts to minimize overlaps across government entities, including local governments, can streamline spending by addressing inefficiencies and reducing red tape. There is also scope to further improve the targeting of social benefits, including by reviewing eligibility and duration of unemployment benefits, to better target active labor market initiatives, as well as to further simplify and harmonize pension schemes, while ensuring a balanced system, building on the 2023 pension reform. These efforts would foster less fragmented and longer careers while enhancing the sustainability and intergenerational equity of the social security system. Enhanced monitoring and financial coordination can also generate savings at the local and national levels.

    The authorities’ initiatives to reinforce public finances forecasting and budget controls, in response to recent fiscal slippages, are welcome. The March 2025 Action plan by the authorities aims at enhancing monitoring of tax revenue, fostering greater transparency, and reinforcing the role of the High Council for Public Finances. Sustained efforts in these areas are essential to identify and proactively address fiscal risks, strengthen public finance management, and enhance fiscal policy credibility. Contingency plans will be also needed to ensure that pressing priority spending needs, including in defense, are met without compromising public finances.

    Macrostructural Policies to Support Jobs and Productivity Growth

    Raising weak productivity growth is critical for sustaining France’s economic prospects, in the face of substantial fiscal consolidation needs. The per capita income gap between France and the US has increased since the early 2000s and now exceeds 20 percent, primarily due to lower productivity and employment in France. Macro-structural reforms can play a critical role in lifting potential output, while facilitating fiscal consolidation efforts. For example, an increase in potential GDP growth of 0.3 percentage points could help reduce public debt by nearly 10 percent of GDP over the long term.

    France is well-positioned to capitalize on the green and digital transitions through greater efforts to support innovation and access to capital. France’s comparative advantage in low-carbon technologies and its potential to become a European hub for Artificial Intelligence can foster the development of new technologies and support growth. Ongoing efforts by the authorities to review and rationalize state aid and R&D tax expenditures by focusing on the most impactful schemes and better targeting eligibility criteria can boost innovation and help close gaps with peers. Enhancing access to finance and reducing financing costs for productive but credit-constrained firms is crucial and should be supported by advancing the EU Savings and Investment Union which can increase the availability of capital and its efficient allocation.

    To support entrepreneurship, policies should focus on easing entry barriers and reducing the regulatory burden. France performs relatively well in terms of product market regulation, but reducing administrative market entry barriers for firms, especially in some services sectors, is crucial for boosting business dynamism and productivity growth. The Simplification Bill, currently under discussion, would be an important step towards further reducing the regulatory burden and streamlining requirements, particularly for small and medium size firms. At the European level, deepening the single market through the removal of remaining intra-EU trade barriers and greater harmonization of regulations can help firms achieve economies of scale and incentivize innovation by expanding market size.

    Sustained efforts to promote employment and job quality remain critical to facilitate green and digital transitions, amid an aging workforce, and boost productivity growth. While employment rates have increased, they remain low in segments of the population compared to other countries. Possible areas for policy intervention include further social benefit reforms to enhance work incentives and reduce career fragmentation, particularly among younger and older individuals. These measures can be complemented by efforts to further raise labor force participation of women, including through recent initiatives to support STEM careers, and better integrate migrants into the labor market. Promoting workforce skills and healthy aging would also contribute to job quality.

    Adapting to a Complex Financial Landscape

    The banking sector has demonstrated resilience to recent shocks, supported by prudent lending standards and strong precautionary buffers. While profitability remains below the EU average, banks’ solvency and liquidity positions are robust, with adequate buffers. Sound prudential measures are mitigating housing market risks as property prices stabilize, while risks to the banking sector from corporate indebtedness and sovereign exposures remain manageable. Notwithstanding high uncertainty, financial stability risks remain contained, with French banks showing resilience under severe geopolitical and recessionary stress test scenarios, applied in the context of the IMF’s 2025 Financial Sector Assessment Program (FSAP).

    The connections between the banking system, insurance firms, and domestic funding markets warrant continued close monitoring. The FSAP stress test indicates that investment funds possess sufficient liquidity to withstand large redemption shocks, and French banks’ liquidity buffers can absorb potential market shocks from associated fixed-income sell-offs. Moreover, liquidity management tools to contain redemption risks have been widely adopted. Nevertheless, amid global uncertainty and episodes of high market volatility, there is scope to further strengthen oversight through greater monitoring and data sharing on fund liability structures as well as closer collaboration among non-bank financial institutions supervisors in France and at the EU level.

    https://www.imf.org/en/News/Articles/2025/05/22/CS-France-2025

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Europe: Health partnerships are key

    Source: European Investment Bank

    Recognising the imperative to be even better prepared for the next pandemic, we have continued to build on this previous success. The EIB is providing Gavi with €1 billion in liquidity to accelerate access to vaccines for viruses with pandemic potential (such as Ebola), and to support routine vaccination against preventable diseases like measles, malaria, and the human papillomavirus (HPV), which is a leading cause of cervical cancer. (A new vaccine against tuberculosis could also be on the horizon.)

    This innovative approach has also inspired others and catalysed their efforts. For example, the G7 development-finance institutions, together with the EIB, MedAccess, and the International Finance Corporation, are working on a new surge-funding instrument to mobilise vaccines, therapeutics, diagnostics, and other medical goods that low- and lower-middle income countries will need to respond to future pandemics.

    Boosting regional vaccine production is a critical priority. Africa accounts for 20% of the world’s population, but produces just 0.1% of the world’s supply of vaccines. Building the continent’s vaccine-manufacturing base is a key part of any strategy to strengthen overall pandemic preparedness.

    Here, too, the EIB’s partnership and financial innovation are a game changer. Gavi’s $1.2 billion African Vaccine Manufacturing Accelerator – backed by over €750 million from European governments, as well as institutions including the EIB – is designed to dismantle barriers to local vaccine production. To help Africa achieve vaccine sovereignty, the EIB is also directly financing production facilities in Ghana, South Africa, and Senegal, through the Institut Pasteur de Dakar.

    Africa accounts for 20% of the world’s population, but produces just 0.1% of the world’s supply of vaccines.

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Non-evaluation of FATCA agreements by Member States and protection of fundamental rights of EU citizens – E-001950/2025

    Source: European Parliament

    Question for written answer  E-001950/2025
    to the Commission
    Rule 144
    François-Xavier Bellamy (PPE)

    On 13 April 2021, the European Data Protection Board (EDPB) invited Member States to re-evaluate their international agreements involving transfers of personal data, in particular agreements struck with the United States under the Foreign Account Tax Compliance Act (FATCA), in order to make these agreements compliant with the General Data Protection Regulation (GDPR). Four years later, and not a single Member State has published the required evaluation. This inaction constitutes a blatant violation of the obligation of responsibility laid down in Article 24 of the GDPR. During this time, the data of thousands of EU citizens continues to be passed on to the Internal Revenue Service (IRS), the US tax authority, without demonstrated legal safeguards.

    In France, the Finance Act for 2022 required the French Government to submit a report on the implementation of its information exchange commitments, in line with the GDPR and the recommendations of the EDPB. This report has never seen the light of day. The lack of political will to protect fundamental rights is clear.

    At the same time, the IRS publicly asserts its right to collect data outside the United States, in total disregard of EU legislation.

    • 1.Does the Commission consider it acceptable that this situation persists?
    • 2.Does the Commission plan to launch infringement proceedings against the Member States that are failing to fulfil their obligations under EU law?
    • 3.And, above all: is the Commission finally ready to guarantee that EU citizens’ data will be duly protected, even from non-EU powers?

    Submitted: 14.5.2025

    Last updated: 22 May 2025

    MIL OSI Europe News –

  • MIL-OSI: Amplify Energy to Participate in the 2025 Louisiana Energy Conference

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, May 22, 2025 (GLOBE NEWSWIRE) — Amplify Energy Corp. (“Amplify” or the “Company”) (NYSE: AMPY) announced today that the Company will be participating in the 2025 Louisiana Energy Conference on Wednesday, May 28th at the Four Seasons in New Orleans, LA.

    Amplify’s President and Chief Executive Officer, Martyn Willsher, will be participating in a panel discussion regarding the topic of “Small Cap E&Ps See Value Creation in U.S. Basins Beyond the Permian.” In addition, Mr. Willsher will be available to meet with investors during the conference.

    About Amplify Energy

    Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of oil and natural gas properties. Amplify’s operations are focused in Oklahoma, the Rockies (Bairoil), federal waters offshore Southern California (Beta), East Texas / North Louisiana, and the Eagle Ford (Non-op). For more information, visit www.amplifyenergy.com.

    Investor Relations Contacts

    Jim Frew – Senior Vice President and Chief Financial Officer
    (832) 219-9044
    james.frew@amplifyenergy.com

    Michael Jordan – Director, Finance and Treasurer
    (832) 219-9051
    michael.jordan@amplifyenergy.com

    The MIL Network –

  • MIL-OSI USA: Governor Newsom announces appointments 5.21.25

    Source: US State of California 2

    May 21, 2025

    SACRAMENTO – Governor Gavin Newsom today announced the following appointments:

    Armen Meyer, of San Francisco, has been appointed Senior Deputy Commissioner for the Division of Consumer Financial Protection at the California Department of Financial Protection and Innovation. Meyer has held several positions at the American Fintech Council since 2021 including Co-Founder, Advisor, and Board Member. He has held several positions at Millenia Capital since 2021, including Advisor and General Partner. Meyer held multiple positions at LendingClub and LendingClub Bank from 2017 to 2023, including Head of the Public Policy and Government Affairs Team and Vice President of Regulatory Strategy and Policy. He held multiple positions at PriceWaterhouseCoopers from 2011 to 2017, including Managing Director for Financial Services Advisory, Director of Regulatory Strategy, and Chief of Staff for Financial Services Regulatory. Meyer held multiple positions at the New York Banking Department from 2009 to 2011, including Chief of Staff and Senior Advisor to the Superintendent. He held multiple positions in the New York Executive Office from 2007 to 2009, including Assistant Secretary for Economic Development and Communications Director to the Lieutenant Governor. Meyer is an Advisor to FS Vector, FairplayAI, Spring Labs, Pontoro, Raido Capital, University of California Berkeley SkyDeck, The AI Education Project, and Fordham University’s College at Lincoln Center. He is a Board Member of the Gaidz Foundation for Armenian heritage and Valt. Meyer is Head of Partnerships for the Harvard Business School Alumni Angels of Northern California, and a member of the National Community Reinvestment Coalition’s Innovation Council, the Exchequer Club of Washington DC, Armenian Assembly and Armenians in Banking and Finance, and supporter of The Mechanicals Theater Company. He earned a Juris Doctor degree from Harvard Law School, a Master of Public Administration degree from the Harvard Kennedy School of Government, and a Bachelor of Arts degree in Math from Fordham University. This position does not require Senate confirmation, and the compensation is $195,564. Meyer is a Democrat.

    Jacob Arkatov, of Los Angeles, has been appointed to the Medical Board of California. Arkatov has been an Associate at O’Melveny & Myers since 2022. He earned a Juris Doctor degree from Harvard Law School and a Bachelor of Arts degree in Government from Georgetown University. This position requires Senate confirmation, and the compensation is $100 per diem. Arkatov is a Democrat.

    Peter Brierty, of Highland, has been appointed to the Southwestern Low-Level Radioactive Waste Commission. Brierty has been a Retired Annuitant at the San Bernardino County Fire Department since 2025. He was a Project Manager at Pacific Heritage, Inc. from 2017 to 2023. Brierty held multiple positions at the San Bernardino County Fire Department from 1978 to 2013, including Fire Marshal, Assistant Chief, and Division Manager. Brierty is the President of the Childhood Cancer Foundation of Southern California and a Member of the Fire and Burn Foundation at the San Bernardino County Arrowhead Regional Medical Center. He earned a Bachelor of Science degree in Health Science from California State University, San Bernardino. This position requires Senate confirmation, and the compensation is $100 per diem. Brierty is a Democrat.

    Tom Hallinan, of Modesto, has been appointed to the California Board of Professional Engineers, Land Surveyors, and Geologists. Tom has been a Deputy District Attorney at the Stanislaus County District Attorney Office since 2024 and a Partner at White Brenner LLP since 2012. Hallinan earned a Juris Docter degree from Lincoln School of Law and a Bachelor of Arts degree in Philosophy from California State University, Fresno. He is a member of the Central Valley City Attorney’s Association. This position does not require senate confirmation, and the compensation is $100 per diem. Hallinan is a Democrat.

    Amanda Steidlmayer, of Woodland, has been appointed to the California Architects Board. Steidlmayer has been the Director of Professional Development at the University of California Davis School of Veterinary Medicine since 2022. She was a Program Manager for the University of California, Davis School of Veterinary Medicine from 2018 to 2022. She was a Strategic Initiatives Coordinator for the University of California, Davis Graduate Studies Office from 2013 to 2018. She was the Director of Academic Operations and Planning at the University of Davis, California Graduate School of Management from 2013 to 2016. Steidlmayer earned a Master of International Public Policy degree from the University of California, San Diego and a Bachelor of Science degree in Community and Regional Development from University of California, Davis. This position does not require senate confirmation, and the compensation is $100 per diem. Steidlmayer is a Democrat.

    Pamela Brief, of La Crescenta, has been reappointed to the Landscape Architects Technical Committee, where she has served since 2020. Brief has been President of Pamela Studios since 2012. She was Senior Principal at NUVIS from 2019 to 2020. Brief was Senior Principal at Jerde Partnership from 2007 to 2008. She was President of Schirmer Design from 2004 to 2007. Brief was a Landscape Designer and Principal at Walt Disney Imagineering from 1992 to 2004. Brief earned a Bachelor of Science degree in Landscape Architecture from Ohio State University. She is a member of the American Society of Landscape Architects, Association of Women in Architecture + Design, and Friends of the LA River. This position does not require Senate confirmation, and the compensation is $100 per diem. Brief is a Democrat.

    Press releases, Recent news

    Recent news

    May 20, 2025

    News SACRAMENTO – Governor Gavin Newsom today announced the following appointments:Matthew Read, of Sacramento, has been appointed Chief Counsel at the Governor’s Office of Land Use and Climate Innovation. Read has been Acting Chief Counsel at the Governor’s Office of…

    May 20, 2025

    News What you need to know: Governor Newsom issued a statement today after U.S. Senate Republicans announced plans for an illegal vote this week that would undo California’s clean cars and trucks program. SACRAMENTO – Governor Gavin Newsom today issued a statement on…

    May 20, 2025

    News What you need to know: State and local law enforcement partners seized $123.5 million in illegal cannabis in the Central Valley. SACRAMENTO – In its largest operation to date, the state’s task force dedicated to eradicating illegal cannabis operations conducted a…

    MIL OSI USA News –

  • MIL-OSI Economics: Thales Reinforces Commitment to Malaysia at LIMA 2025 with New Leadership and Contracts Awarded

    Source: Thales Group

    Headline: Thales Reinforces Commitment to Malaysia at LIMA 2025
    with New Leadership and Contracts Awarded

    • As a strategic partner in helping Malaysia achieve air sovereignty, Thales has been awarded the role to supply two additional Ground Master 400 Alpha (GM400α) radars by the Ministry of Defence for the Royal Malaysian Air Force (RMAF), following the previous contract for the first radar at the end of 2023.
    • Thales will enhance tactical communications for land forces and reinforce its radio communications capabilities through the signing of a strategic MoU with Malaysian defence partner, ADS, to collaborate on radio projects.
    • Thales has also been selected to deploy the AW139 flight simulator to the Royal Malaysian Police with local partner Novatis Resources through the LOA signed in presence of Thales.
    • To drive the Thales business forward, Florian Riou has been appointed Country Director for Thales in Malaysia, effective 1 July 2025.
    Thales’s GM400α radar © Thales” id=”image-a30cd6be-5247-44f2-87e6-7e1b9bfd9e1d” data-id=”a30cd6be-5247-44f2-87e6-7e1b9bfd9e1d” data-original=”https://cdn.uc.assets.prezly.com/a30cd6be-5247-44f2-87e6-7e1b9bfd9e1d/-/inline/no/ABC.jpg” data-mfp-src=”https://cdn.uc.assets.prezly.com/a30cd6be-5247-44f2-87e6-7e1b9bfd9e1d/-/format/auto/” alt=”Thales’s GM400α radar © Thales”/>
    Thales’s GM400α radar © Thales

    On the occasion of the LIMA 2025 exhibition in Langkawi, Thales’ commitment to Malaysian defence is once again recognised by the Malaysian Ministry of Defence and Armed Forces. With a steady economic growth outlook, the Malaysian government is keen to advance the country’s military modernisation and Thales remains at the forefront of this, with the Memorandum of Understanding & Letter of Award received for equipment ranging from radars to radios.

    I. Two additional GM400α long-range radars for superior situational air awareness

    To strengthen the air surveillance and air defence capabilities of the Royal Malaysian Air Force (RMAF), Thales will supply two additional long-range air surveillance GM400α radars, following the ceremony held on Day 3 of LIMA 2025, in presence of Francois-Xavier Boutes, Country Director of Thales Malaysia and YBhg Datuk Lokman Hakim bin Ali, Secretary General from the Ministry of Defence, and witnessed by YB Dato’ Seri Mohamed Khaled bin Nordin, Minister of Defence. The award of these two additional radars underscores the trust held by the RMAF in Thales’ radar technology, following the first GM400α contract signed at the end of 2023. Thanks to its high mobility, high availability, easy upgradeability and seamless integration, the GM400α offers armed forces with a valuable tool to gain tactical advantage, detecting all types of threats early and providing precious minutes for decision-making and action (515km range). Today more than 270 Ground Master field-proven family air surveillance radars have been sold worldwide.

    In Malaysia, Thales will partner Weststar Group once again to deploy the radars in line with the operational requirements of the RMAF. Thales will also engage in the Transfer of Knowledge and Train-the-Trainer courses delivered under the Industrial Collaboration Programme (ICP), while strengthening its installed base in Malaysia for long-range surveillance radars. By building local expertise, Thales will enhance the efficiency of radar maintenance, enhance the autonomy of the RMAF and ensure timely on-ground maintenance support close to the end-users. Thales’ radar expertise in Malaysia runs deep, as the country was also the launch customer for the precursor GM400 radar in 2009.

    II. Enhancing tactical and radio communications for Malaysia

    To further deepen its expertise in radio and tactical communications, Thales has also signed a Memorandum of Understanding (MoU) with partner ADS Sdn. Bhd. Signed on Day 2 of LIMA between Brig Gen Dato’ Abdul Hadi bin Abdul Razak (R), ADS and Nicolas Bouverot, VP Thales Asia, the collaboration will see both parties working on the latest digital technologies for handheld radios and other tactical communications.

    III. A helicopter training simulator marks a first contract with Royal Malaysian Police (RMP)

    Pascale Sourisse, CEO, Thales International witnessed the signing of an LOA, together with Malaysian partner Novatis Resources to deliver a Reality-H® AW139 Full Flight Simulator (FFS) to be used for pilot training with the Royal Malaysian Police (RMP). The Thales Reality H Full Flight Simulator is the world’s most advanced commercial helicopter simulator, and will be qualified to meet Level D standard, the highest level of qualification for a simulator. This marks a first engagement with the RMP, where pilots of the Police Air Wing Training Academy and other government agencies including the fire brigade and coast guard can benefit from realistic and immersive training, customised to the Malaysian environment and terrain.

    IV. New leadership for Thales in Malaysia

    To drive the growing business in Malaysia, Florian Riou has been appointed Country Director for Thales in Malaysia and Brunei and will effectively take on the role on 1st of July 2025. Florian brings close to 18 years of professional experience in foreign trade policy and trade compliance, with roles held in the French Ministry of Economics and Finance and Safran Group. With Thales since 2017, Florian’s most recent role was as Group Trade Compliance Director for Thales, based in France.

    “These latest agreements are recognition of how Thales’ solutions are supporting the needs of the Malaysian government and Malaysian forces. Our air surveillance radars are bringing air superiority to the Royal Malaysian Air Force in some of most challenging tropical environments. In addition, our history in tactical radio communications dates back several decades in Malaysia and looks set to continue as we collaborate with strong local partners to develop home-grown expertise and joint solutions to support the Army. We appreciate the renewed trust established with Thales to help drive the modernisation of its armed forces.” Pascale Sourisse, CEO, Thales International.

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Funding for Major City Projects Welcomed

    Source: Scotland – City of Dundee

    Funding from the Scottish Government to assist major projects in Dundee is being welcome by senior councillors.

    Awards will be used to support development of the Dundee Museum of Transport at the former Maryfield tram depot and assist efforts to improve the Lochee area of the city.

    £1 million is coming from the Scottish Government’s Regeneration Capital Grant Fund for the museum of transport. (link to museum news release on website)

    Meanwhile, the Scottish Government’s Vacant & Derelict Land Investment Programme is awarding £695,000 towards the ongoing Lochee Placemaking Project.

    This will support work to improve and unlock a number of vacant sites along Lochee High Street.

    Scottish Government investment will allow the addition of a major new water and drainage system in the High Street to allow development of social housing.

    Councillor Steven Rome, Dundee City Council convener of Fair Work, Economic Growth and Infrastructure, said: “I am delighted that the Dundee Museum of Transport is receiving another major award to help in the journey to redevelop the former tram depot into a new attraction..

    “There is real excitement building around the project and I would like to congratulate all connected with the museum for this significant step forward.”

    Depute convener of Fair Work, Economic Growth and Infrastructure Cllr Siobhan Tolland, added: “I welcome funding from the Scottish Government which will help us to invest in the future of Lochee.

    “This will assist in transforming currently derelict sites making them viable for the development of much needed social housing in the area.”

    “The Lochee Placemaking project, which will be taken forward with Scottish Water, will provide drainage solutions at locations on Lochee High Street, Bank Street and the former Bright Street church.

    “It will allow us to take forward positive projects for the area and its people.”

    The Lochee Placemaking Project is already underway with refurbishment of two shop units, while preparation work is taking place for a major new mural at Bank Street.

    A new landscaped area will be provided at the corner of Bank Street and High Street and a heritage trail will be established.

    Construction works are expected to start in autumn and will continue into early next year.

    Support has come from the Lochee Residents and Tenants association and Love Lochee who have raised funds for the heritage trail and mural and assisted the council in efforts to attract funding.

    MIL OSI United Kingdom –

  • MIL-OSI: Computer Modelling Group Announces Year-End Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, May 22, 2025 (GLOBE NEWSWIRE) — Computer Modelling Group Ltd. (“CMG Group” or the “Company”) announces its financial results for the three months and year ended March 31, 2025, and the approval by its Board of Directors (the “Board”) of the payment of a cash dividend of $0.05 per Common Share for the fourth quarter ended March 31, 2025.

    FOURTH QUARTER 2025 CONSOLIDATED HIGHLIGHTS

    Select financial highlights

    • Total revenue increased by 4% (13% Organic decline(1) and 17% growth from acquisitions) to $33.7 million;
    • Recurring revenue(2) increased by 16% (7% Organic decline and 23% growth from acquisitions) to $24.2 million;
    • Adjusted EBITDA(1) increased by 2% to $10.5 million;
    • Adjusted EBITDA Margin(1) was 31%, compared to 32% in the comparative period;
    • Earnings per share was $0.06, a 33% decrease;
    • Free Cash Flow(1) decreased by 26% to $7.0 million; Free Cash flow per share decreased to $0.08 from $0.12.

    FISCAL 2025 CONSOLIDATED HIGHLIGHTS

    Select financial highlights

    • Total revenue increased by 19% (1% Organic decline and 20% growth from acquisitions) to $129.4 million;
    • Recurring revenue increased by 13% (1% Organic growth and 12% was growth from acquisitions) to $86.8 million;
    • Adjusted EBITDA increased by 2% to $44.0 million;
    • Adjusted EBITDA Margin was 34%, compared to 40% in the comparative period;
    • Earnings per share was $0.27, a 16% decrease;
    • Free Cash Flow decreased by 22% to $27.6 million; Free Cash flow per share decreased to $0.33 from $0.44.

    (1) Organic growth/decline, Adjusted EBITDA, Adjusted EBITDA Margin and Free Cash Flow are not standardized financial measures and might not be comparable to measures disclosed by other issuers. For more description see under “Non-IFRS Financial and Supplementary Financial Measures” heading.
    (2) Recurring revenue includes Annuity/maintenance licenses and Annuity license fee, and excludes Perpetual licenses and Professional Services.

    OVERVIEW

    Macroeconomic factors and political instability, combined with a low oil price environment, resulted in challenged organic growth this year, particularly in reservoir and production solutions, where lengthened deal cycles and cautious customer spending prevailed. Despite these challenges, we continued to execute on our strategic M&A roadmap, and revenue growth during the quarter and year-to-date, was supported by meaningful contributions from acquisitions. Adjusted EBITDA increases during the quarter and year-to-date were also supported by growth from acquisitions. Free Cash Flow decreased during the quarter and year-to-date due to pressures on top-line-growth, however, during the prior year period, Free Cash Flow also benefited from the tax deduction of approximately $4.6 million as a result of the acquisition of intellectual property. We generated $27.6 million of Free Cash Flow during fiscal 2025, maintaining our strong liquidity position and enabling us to invest in strategic acquisitions.

    As we look forward to fiscal 2026, excluding any impact from future acquisitions, we anticipate a reduction of between $6 – $7 million in professional services revenue compared to fiscal 2025 which may make it challenging to demonstrate total revenue growth. It is a goal of the company to shift the revenue mix towards a higher percentage of software revenue and the reduction in professional services is a natural part of the shift. Adjusted EBITDA and Adjusted EBITDA Margin may also show limited growth due to anticipated delays in cost-saving measures in taking effect, but this impact is expected to be limited to fiscal 2026.

    To ensure long-term resilience, we remain committed to evolving our business model through carefully targeted strategic acquisitions. Our acquisitions to date position us well by expanding our capabilities and helping to support long-term growth by complementing our core offering.

    SUMMARY OF FINANCIAL PERFORMANCE

         
      Three months ended March 31, Year ended March 31,
    ($ thousands, except per share data) 2025 2024 % change   2025 2024 % change  
    Annuity/maintenance licenses 19,436 19,661 (1 %) 77,525 71,530 8 %
    Annuity license fee 4,728 1,142 314 % 9,280 5,146 80 %
    Recurring revenue(1) (2) 24,164 20,803 16 % 86,805 76,676 13 %
    Perpetual licenses 554 2,130 (74 %) 5,617 5,739 (2 %)
    Total software license revenue 24,718 22,933 8 % 92,422 82,415 12 %
    Professional services 8,965 9,358 (4 %) 37,024 26,264 41 %
    Total revenue 33,683 32,291 4 % 129,446 108,679 19 %
    Cost of revenue 6,749 6,470 4 % 24,940 17,224 45 %
    Operating expenses                
    Sales & marketing 5,094 4,361 17 % 18,617 14,957 24 %
    Research and development 8,129 7,607 7 % 30,142 23,679 27 %
    General & administrative 4,876 5,576 (13 %) 21,599 18,835 15 %
    Operating expenses 18,099 17,544 3 % 70,358 57,471 22 %
    Operating profit 8,835 8,277 7 % 34,148 33,984 – %
    Net income 5,104 7,229 (29 %) 22,437 26,259 (15 %)
    Adjusted EBITDA (1) 10,500 10,295 2 % 44,009 43,345 2 %
    Adjusted EBITDA Margin (1) 31% 32%     34% 40%    
                     
    Earnings per share – basic & diluted 0.06 0.09 (33 %) 0.27 0.32 (16 %)
    Funds flow from operations per share – basic 0.10 0.13 (23 %) 0.38 0.47 (19 %)
    Free Cash Flow per share – basic (1) 0.08 0.12 (33 %) 0.33 0.44 (25 %)

    (1) Non-IFRS financial measures are defined in the “Non-IFRS Financial Measures” section. 
    (2) Included in the number is a reduction of $0.5 million and $0.8 million for the three months and year ended March 31, 2025, respectively ($0.1 million and $0.2 million for the three months and year ended March 31, 2024, respectively), attributed to the amortization of a deferred revenue fair value reduction recognized on acquisition.

    Q4 2025 Dividend

    Computer Modelling Group’s Board approved a cash dividend of $0.05 per Common Share. The dividend will be paid on June 13, 2025, to shareholders of record at the close of business on June 5, 2025.

    All dividends paid by Computer Modelling Group Ltd. to holders of Common Shares in the capital of the Company will be treated as eligible dividends within the meaning of such term in section 89(1) of the Income Tax Act (Canada), unless otherwise indicated.

    NON-IFRS FINANCIAL MEASURES AND RECONCILIATION OF NON-IFRS MEASURES

    Free Cash Flow Reconciliation to Funds Flow from Operations

    Free cash flow is a non-IFRS financial measure that is calculated as funds flow from operations less capital expenditures and repayment of lease liabilities. Free Cash Flow per share is calculated by dividing free cash flow by the number of weighted average outstanding shares during the period. Management believes that this measure provides useful supplemental information about operating performance and liquidity, as it represents cash generated during the period, regardless of the timing of collection of receivables and payment of payables, which may reduce comparability between periods. Management uses free cash flow and free cash flow per share to help measure the capacity of the Company to pay dividends and invest in business growth opportunities.

      Fiscal 2024 Fiscal 2025
    ($ thousands, unless otherwise stated) Q1   Q2   Q3   Q4   Q1   Q2   Q3   Q4  
    Funds flow from operations 7,920   11,491   8,477   10,367   6,515   7,101   9,937   8,227  
    Capital expenditures (45 ) (51 ) (459 ) (95 ) (93 ) (236 ) (432 ) (661 )
    Repayment of lease liabilities (412 ) (412 ) (728 ) (803 ) (743 ) (769 ) (689 ) (549 )
    Free Cash Flow 7,463   11,028   7,290   9,469   5,679   6,096   8,816   7,017  
    Weighted average shares – basic (thousands) 80,685   80,834   81,067   81,314   81,476   81,887   82,753   83,064  
    Free Cash Flow per share – basic 0.09   0.14   0.09   0.12   0.07   0.07   0.11   0.08  
    Funds flow from operations per share- basic 0.10   0.14   0.10   0.13   0.08   0.09   0.12   0.10  

    Free Cash Flow decreased by 26% and 22%, respectively, for the three months and year ended March 31, 2025 from the same periods of the previous fiscal year. These decreases are primarily due to lower funds flow from operations, higher capital expenditures, and increased repayment of lease liabilities as a result of office leases in acquired entities. During year ended March 31, 2024, Free Cash Flow benefited from the tax deduction of approximately $4.6 million as a result of the acquisition of the BHV intellectual property.

    Adjusted EBITDA and Adjusted EBITDA Margin

      Three months ended
    March 31,    		 Year ended
    March 31,
    ($ thousands) 2025   2024   2025   2024  

    Net income (loss)

    5,104

    		  

    7,229

    		  

    22,437

    		  

    26,259

    		  
    Add (deduct):                
    Depreciation and amortization 2,368   2,151   8,465   5,688  
    Acquisition costs 216   186   2,567   1,456  
    Stock-based compensation (435 ) 922   2,625   6,292  
    Loss on contingent consideration 88   –   2,151   –  
    Deferred revenue amortization on acquisition fair value reduction 535   76   845   188  
    Income and other tax expense 2,154   1,935   10,448   8,963  
    Interest income (313 ) (658 ) (2,605 ) (3,096 )
    Interest expense 189   –   189   –  
    Foreign exchange loss (gain) 1,143   (743 ) (363 ) (50 )
    Repayment of lease liabilities (549 ) (803 ) (2,750 ) (2,355 )
    Adjusted EBITDA (1) 10,500   10,295   44,009   43,345  
    Adjusted EBITDA Margin (1) 31 % 32 % 34 % 40 %

    (1) This is a non-IFRS financial measure. Refer to definition of the measures above.

    Adjusted EBITDA increased by 2% during the three months ended March 31, 2025, compared to the same period of the previous year, of which 20% was growth from acquisitions, partially offset by an Organic decline of 18%, primarily attributable to lower revenue in the quarter partially offset by lower expenses.

    Adjusted EBITDA increased by 2% for the year ended March 31, 2025, compared to the same period of the previous year, of which 3% of the increase was due to growth from acquisitions, partially offset by a 1% Organic decline due to higher expenses.

    Organic Growth

    Organic growth is not a standardized financial measure and might not be comparable to measures disclosed by other issuers. The Company measures Organic growth on a quarterly and year-to-date basis at the revenue and Adjusted EBITDA levels and includes revenue and Adjusted EBITDA under CMG Group’s ownership for a year or longer, beginning from the first full quarter of CMG Group’s ownership in the current and comparative period(s). For example, BHV was acquired on September 25, 2023 (Q2 2024). September 25, 2024, marked one full year of ownership under CMG Group and on October 1, 2024 (Q3 2025), which is the first full quarter under CMG Group’s ownership in the current and comparative period, started being tracked under Organic growth. Any revenue and Adjusted EBITDA generated by BHV prior to October 1, 2024, would not be included in Organic growth. Sharp was acquired on November 12, 2025 (Q3 2025) and will start contributing to Organic growth on January 1, 2026 (Q4 2026).

    For further clarity, current statements include Organic growth from the following:

    • CMG revenue and Adjusted EBITDA; and
    • BHV revenue and Adjusted EBITDA generated beginning on October 1, 2024.

    Recurring Revenue
    Recurring revenue represents the revenue recognized during the period from contracts that are recurring in nature and includes revenue recognized as “Annuity/maintenance licenses” and “Annuity license fee”. We believe that Recurring revenue is an indicator of business expansion and provides management with visibility into our ability to generate predictable cash flows.

    The table below reconciles Recurring revenue to total revenue for the periods indicated.

      Three months ended March 31, Year ended March 31,
      2025 2024 % change   2025 2024 % change  
    ($ thousands)                
    Annuity/maintenance licenses 19,436 19,661 (1% ) 77,525 71,530 8 %
    Annuity license fee 4,728 1,142 314 % 9,280 5,146 80 %
    Recurring revenue(1) (2) 24,164 20,803 16 % 86,805 76,676 13 %
    Perpetual licenses 554 2,130 (74 %) 5,617 5,739 (2 %)
    Total software license revenue 24,718 22,933 8 % 92,422 82,415 12 %
    Professional services 8,965 9,358 (4 %) 37,024 26,264 41 %
    Total revenue 33,683 32,291 4 % 129,446 108,679 19 %

    (1) This is a non-IFRS financial measure.
    (2) Included in the number is a reduction of $0.5 million and $0.8 million for the three months and year ended March 31, 2025, respectively ($0.1 million and $0.2 million for the three months and year ended March 31, 2024, respectively), attributed to the amortization of a deferred revenue fair value reduction recognized on acquisition.

    Consolidated Statements of Financial Position

      March 31, 2025   March 31, 2024   April 1, 2023  
    (thousands of Canadian $)            

    Assets

    		            
    Current assets:            
    Cash 43,884   63,083   66,850  
    Restricted cash         362   142   –  
    Trade and other receivables 41,457   36,550   23,910  
    Prepaid expenses 2,572   2,321   1,060  
    Prepaid income taxes 1,641   3,841   444  
      89,916   105,937   92,264  
    Intangible assets 59,955   23,683   1,321  
    Right-of-use assets 28,443   29,072   30,733  
    Property and equipment 10,157   9,877   10,366  
    Goodwill 15,814   4,399   –  
    Deferred tax asset 471   –   2,444  
    Total assets 204,756   172,968   137,128  

    Liabilities and shareholders’ equity

    		            
    Current liabilities:            
    Trade payables and accrued liabilities 18,452   18,551   11,126  
    Income taxes payable 2,667   2,136   33  
    Acquisition holdback payable 188   2,292   –  
    Acquisition earnout 3,864   –   –  
    Deferred revenue 40,276   41,120   34,797  
    Lease liabilities 2,278   2,566   1,829  
    Government loan 310   –   –  
      68,035   66,665   47,785  
    Lease liabilities 34,668   34,395   36,151  
    Stock-based compensation liabilities 256   624   742  
    Government loan 1,319   –   –  
    Acquisition earnout –   1,503   –  
    Acquisition holdback payable 1,257   –   –  
    Other long-term liabilities 212   305   –  
    Deferred tax liabilities 13,102   1,661   –  
    Total liabilities 118,849   105,153   84,678  

    Shareholders’ equity:

    		            
    Share capital 94,849   87,304   81,820  
    Contributed surplus 15,460   15,667   15,471  
    Cumulative translation adjustment 4,326   (367 ) –  
    Deficit (28,728 ) (34,789 ) (44,841 )
    Total shareholders’ equity 85,907   67,815   52,450  
    Total liabilities and shareholders’ equity 204,756   172,968   137,128  

    Consolidated Statements of Operations and Comprehensive Income

    Years ended March 31,
    (thousands of Canadian $ except per share amounts)

    		 2025  

    2024

    		  
    Revenue
    129,446    		   108,679  
    Cost of revenue 24,940   17,224  
    Gross profit 104,506   91,455  

    Operating expenses

    		        
    Sales and marketing 18,617   14,957  
    Research and development 30,142   23,679  
    General and administrative 21,599   18,835  
      70,358   57,471  
    Operating profit 34,148   33,984  

    Finance income

    2,968

    		  

    3,146

    		  
    Finance costs (2,080 ) (1,908 )
    Change in fair value of contingent consideration (2,151 ) –  
    Profit before income and other taxes 32,885   35,222  
    Income and other taxes 10,448   8,963  

    Net income

    22,437

    		  

    26,259

    		  

    Other comprehensive income:    		        
    Foreign currency translation adjustment 4,693   (367 )
    Other comprehensive income 4,693   (367 )
    Total comprehensive income 27,130   25,892  
    Net income per share – basic
    0.2    7    		   0.32  
    Net income per share – diluted 0.27   0.32  
    Dividend per share 0.20   0.20  

    Consolidated Statements of Cash Flows

    Years ended March 31,
    (thousands of Canadian $)

    2025

    		  

    2024

    		  

    Operating activities

    		        
    Net income 22,437   26,259  
    Adjustments for:        
    Depreciation and amortization of property, equipment, right-of use assets 4,756   4,187  
    Amortization of intangible assets 3,709   1,501  
    Deferred income tax expense (recovery) (776 ) 3,518  
    Stock-based compensation (1,297 ) 2,795  
    Foreign exchange and other non-cash items 800   (5 )
    Change in fair value of contingent consideration 2,151   –  
    Funds flow from operations 31,780   38,255  
    Movement in non-cash working capital:        
    Trade and other receivables (527 ) (6,697 )
    Trade payables and accrued liabilities (818 ) 2,618  
    Prepaid expenses and other assets (169 ) (1,183 )
    Income taxes receivable (payable) 2,421   (1,826 )
    Deferred revenue (2,770 ) 4,910  
    Change in non-cash working capital (1,863 ) (2,178 )
    Net cash provided by operating activities 29,917   36,077  

    Financing activities

    		        
    Repayment of acquired line of credit –   (2,012 )
    Repayment of government loan (141 ) –  
    Proceeds from issuance of common shares 5,597   4,193  
    Repayment of lease liabilities (2,750 ) (2,355 )
    Dividends paid (16,376 ) (16,207 )
    Net cash used in financing activities (13,670 ) (16,381 )

    Investing activities

    		        
    Corporate acquisition, net of cash acquired (27,292 ) (22,814 )
    Repayment of acquisition holdback payable (9,247 ) –  
    Property and equipment additions, net of disposals (1,422 ) (650 )
    Net cash used in investing activities (37,961 ) (23,464 )

    Decrease in cash
    (21,714    		 ) (3,768 )
    Effect of foreign exchange on cash 2,515   1  
    Cash, beginning of year 63,083   66,850  
    Cash, end of year 43,884   63,083  

    Supplementary cash flow information

    		        
    Interest received 2,605   3,096  
    Interest paid 1,891   1,908  
    Income taxes paid 11,370   7,201  

    CORPORATE PROFILE 

    CMG Group (TSX:CMG) is a global software and consulting company that combines science and technology with deep industry expertise to solve complex subsurface and surface challenges for the new energy industry around the world. The Company is headquartered in Calgary, AB, with offices in Houston, Oslo, Stavanger, Kaiserslautern, Oxford, Dubai, Bogota, Rio de Janeiro, Bengaluru, and Kuala Lumpur. For more information, please visit www.cmgl.ca.

    ANNUAL FILINGS AND RELATED ANNUAL FINANCIAL INFORMATION

    Management’s Discussion and Analysis (“MD&A”) and consolidated financial statements and the notes thereto for the year ended March 31, 2025, can be obtained from our website www.cmgl.ca. The documents will also be available under CMG Group’s SEDAR profile www.sedarplus.ca.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains “forward-looking statements”. Forward-looking statements can be identified by words such as: “anticipate”, “intend”, “plan”, “goal”, “seek”, “believe”, “project”, “estimate”, “expect”, “strategy”, “future”, “likely”, “may”, “should”, “will”, and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding the benefits of the acquired technology, the ongoing development thereof; and the ability of data analytics to improve efficiency, cut costs and reduce risks.

    Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are detailed in the companies’ public filings.

    Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    The MIL Network –

  • MIL-OSI Economics: Public Statement Concerning the Imposition of a Civil Penalty on Income Plus Services Limited (‘IPSL’)

    Source: Isle of Man

    1. Action

    1.1 The Isle of Man Financial Services Authority (the “Authority”) makes this public statement in accordance with powers conferred upon it under each of section 27 of the Designated Businesses (Registration and Oversight) Act 2015 (the “Act”) and regulation 5(7) of the Anti-Money Laundering and Countering the Financing of Terrorism (Civil Penalties) Regulations 2019 (the “Regulations”).

    1.2 The making of such public statement supports the Authority’s regulatory objectives of, among other things, securing an appropriate degree of protection for customers of persons carrying on a regulated activity, reducing financial crime and maintaining confidence in the Isle of Man’s financial services industry.

    1.3 Following an inspection of IPSL by the Authority under section 14 of the Act (the “Inspection”), which identified a number of contraventions by IPSL in relation to the Anti-Money Laundering and Countering the Financing of Terrorism Code 2019 (the “Code”), and the opening of a formal investigation (the “Investigation”), the Authority has deemed it reasonable, proportionate and appropriate, in all the circumstances, that IPSL be required to pay a civil penalty imposed under the Regulations.

    1.4 The Regulations allow for penalties to be imposed at two levels depending on the seriousness of the contraventions of the Code identified. Penalties imposed equate to a percentage of the Relevant Person’s income (as such terms are defined in the Regulations). In this instance, the Authority has deemed that the contraventions of the Code identified, in all of the circumstances, merit that a civil penalty be imposed in the higher, Level 2, penalty bracket.

    1.5 The civil penalty imposed on IPSL is the sum of £48,356, which is discounted by 30% to £33,850 (the “Civil Penalty”).

    1.6 The level of the Civil Penalty reflects the fact that IPSL co-operated with the Authority and agreed settlement at an early stage.     

          

    2. Background

    2.1 IPSL at all material times has been registered with the Authority as a Payroll Agent under the Designated Business (Registrations and Oversight) Act 2015.

    2.2 In July 2023 the Authority held a business meeting with IPSL where it was noted that there were considerable gaps in the firm’s Anti-Money Laundering and Countering the Financing of Terrorism (“AML/CFT”) control framework and overall understanding of risk. The Authority subsequently conducted a risk-based Inspection of IPSL in December 2023. During the AML/CFT inspection of IPSL the Authority identified a significant number of contraventions of the Code (the “Contraventions”).  The subsequent Authority Investigation confirmed the findings of the Inspection.

    2.3 IPSL has engaged positively with the Authority throughout this matter in a timely and constructive manner.

    2.4 IPSL proactively engaged an independent third-party professional to help progress its remediation plan. The remediation plan was completed within a timescale agreed with the Authority.

     

    3. Key Findings from Inspection Report and Investigation

    Contraventions of the Code identified by the Inspection included:

    3.1 IPSL failed to establish, record, operate or maintain procedures and controls relating to its Business Risk Assessment (“BRA”), Customer Risk Assessment (“CRA”), customer screening, ongoing monitoring, including transaction monitoring, and monitoring and testing compliance with the AML/CFT legislation (paragraph 4 of the Code).

    3.2 IPSL’s BRA did not consider all the risk factors detailed in paragraph 5(3) of the Code and was not an assessment which estimated the risks of ML/FT posed by the business and its customers (paragraph 5 of the Code).

    3.3 IPSL’s CRA did not amount to a CRA under paragraph 6 of the Code. It was therefore concluded that IPSL had not carried out an adequate assessment of the ML/TF risk of its customers. The CRA had no regard to the risk factors detailed in paragraph 6(3) of the Code and did not involve any risk assessment process or methodology (paragraph 6 of the Code).

    3.4 IPSL did not demonstrate that it had adequate procedures and controls for new business relationships as required by the Code, that it was at all times taking reasonable measures to verify the identity of new customers, and it did not take reasonable measures to establish the source of funds (“SOF”) of new clients (paragraph 8 of the Code).

    3.5 IPSL undertook no ongoing monitoring or screening of customers to check for exposure to sanctions, PEP or adverse information as required by the Code. IPSL’s failure to establish SOF before a business relationship was entered into meant it was not in a position to scrutinise transactions to determine whether or not they were consistent with the expected SOF of a transaction. As no CRA was undertaken, IPSL was unable to determine whether transactions were consistent with the customer’s business and risk profile (paragraph 13 of the Code).

    3.6 IPSL did not establish, record, maintain or operate appropriate procedures and controls for the purpose of determining whether any customer (amongst other individuals) was, or subsequently became, a Politically Exposed Person (“PEP”) (paragraph 14(1) of the Code).

    3.7 IPSL did not have procedures and controls in place for monitoring and testing compliance with the AML/CFT legislation. No reports were produced in accordance with the requirements of paragraph 30(2) of the Code. Such reports are required at least annually and serve as a confirmation of the firm’s adherence to its legal obligations and the robustness of its AML/CFT framework (paragraph 30(2) of the Code).

     

    4. Key Learning Points for Industry

    4.1 The Isle of Man National Risk Assessment 2020 assesses the money laundering risk for Payroll Services as ‘Medium’, with terrorist financing being assessed as ‘Medium Low’. IPSL’s failure to maintain adequate AML/CFT procedures and controls, as required by the Code, made it more vulnerable to being used for money laundering. The contraventions were systemic and evidenced that IPSL had materially contravened the Code over a long period.

    4.2 The procedures and controls as required by the Code, are vital to help protect the Relevant Person, their staff, their business and their communities from the threat of being used or abused by criminals or those assisting or enabling criminals. Relevant Persons must demonstrate they are protecting themselves in order to make their domain as hostile as possible to those who would abuse them. In this way, the procedures and controls are vital for the effective prevention of ML/FT and the harm that crime, terrorism and the proliferation of weapons of mass destruction present for wider society.

    4.3 Ongoing monitoring of customers helps identify and mitigate potential risks associated with money laundering and terrorist financing. By continuously reviewing client activities and transactions, firms can detect suspicious behaviour early and take appropriate action. Regular screening against sanction lists, PEPs, and adverse media ensures that firms are aware of any changes in their clients’ risk profiles. This allows for enhanced due diligence when necessary.

    4.4 Compliance with the Code is a legal requirement; all firms undertaking business in the regulated sector have an obligation to conduct their affairs in a manner that adequately mitigates the risks faced by it in order to ensure that the Isle of Man retains its reputation as a responsible, and well regulated, international financial centre. The Authority is committed to taking reasonable, proportionate and appropriate action to address contraventions of the Code in order to help it achieve its regulatory objectives of protecting consumers, reducing financial crime and maintaining the reputation of the Isle of Man’s finance sector through effective regulation.

    4.5 The directors of all firms undertaking business in the regulated sector bear ultimate responsibility for ensuring the effective implementation and ongoing compliance with the Code. In particular, they must ensure that the (at least) annual review mandated by paragraph 30(2) of the Code is conducted diligently and comprehensively. This review is not merely a procedural formality, but a critical mechanism for evaluating the firm’s adherence to its legal obligations and the robustness of its AML/CFT framework. Directors must actively oversee the planning, execution, and documentation of this review, ensuring that it is;

    i. conducted by competent personnel with sufficient expertise and resource;

    ii. covers relevant aspects of the firms AML/CFT policies, procedures and controls;

    iii. identifies and addresses any deficiencies or weaknesses in a timely manner; and

    iv. is documented thoroughly, providing a clear audit trail of the review’s findings and any remedial actions taken.

    4.6 Directors must demonstrate a proactive and informed approach to this review, recognising its significance in safeguarding the firm from financial crime risks and maintaining the integrity of the Isle of Man’s financial system. Their active involvement is essential in fostering a culture of compliance throughout the organisation and demonstrating a clear commitment to their AML/CFT obligations.

    4.7 In today’s rapidly changing regulatory environment, it is essential for firms to stay up-to-date with the evolving AML/CFT framework. The Authority remains committed to work with industry to enhance the Isle of Man’s ability to meet its international AML/CFT standards and has a number of AML/CFT resources on its website and other social media platforms including webinars and sector specific guidance.

     

    MIL OSI Economics –

  • MIL-OSI China: Western China trade fair inks deals worth over 200B yuan

    Source: People’s Republic of China – State Council News

    The 7th Western China International Fair for Investment and Trade kicked off in southwest China’s Chongqing Municipality on Thursday, with on-site project agreements exceeding 200 billion yuan (about 27.8 billion U.S. dollars).

    The event invited Thailand as the guest country of honor, Sichuan Province as the permanent guest province, and the Hong Kong Special Administrative Region as a newly added guest city.

    The fair attracted over 1,300 enterprises from 39 countries and regions, including 56 central state-owned enterprises, 47 Fortune Global 500 companies, 93 multinational corporations, and 286 leading private firms.

    According to the organizing committee, manufacturing and modern service industries accounted for over 75 percent of the total contracted projects, spanning sectors such as aerospace, advanced materials, energy, and smart equipment.

    MIL OSI China News –

  • MIL-OSI New Zealand: Budget 2025 – Budget of austerity piles on least well-off, misreads public mood – Better Taxes

    Source: Better Taxes for a Better Future

    As your average New Zealander struggles to pay the bills, the Government’s 2025 Budget piles austerity on the least well-off, and misreads the public mood. Recent polling commissioned by the Better Taxes for a Better Future campaign showed the vast majority of New Zealanders supported increased spending on public services, and only 3% were in favour of cuts.

    By limiting its operating allowance to $1.3b to reduce debt, following the introduction of  unaffordable tax cuts last year and the failure to advance other meaningful revenue gathering options, the Government has manufactured the need for cuts in spending on public services that New Zealanders rely upon on a daily basis.

    “The most significant contributor to the Government’s $5.3bn in savings required to reach its arbitrary operating allowance are the lowest paid working women through the scrapping of the pay equity settlements,” says Glenn Barclay, Better Taxes campaign spokesperson.

    “Many other good programmes have also been sacrificed to allow the Government to get away with such a miserly operating allowance.”

    “The total cost to mainly low paid working people from scrapping pay equity of $12.8bn over 4 years represents one of the largest wealth transfers in modern history, and will have a real cost for the lives of some of the least well off in New Zealand.”

    Other items in the Budget are worth commenting on.

    “While a modest increase in the abatement threshold for Working for Families is to be welcomed, it will be paid for by increasing the abatement rate and means testing the first year of Best Start payments. Here we see the Government giving to young families with one hand, while taking away with the other.”

    “The flagship Investment Boost allowing for accelerated depreciation on new assets to be deducted from taxable income, while a useful tool to grow GDP, implemented in this untargeted way stands to benefit monopolistic companies like supermarket chains, electricity generators and banks at the expense of the collective revenue pool,” says Glenn Barclay.   “With the substantial cost of $1.7 billion per year, it would have been much better to use this tool to focus on areas such as advanced manufacturing or green technology.”

    “Similarly the halving of Government contributions to KiwiSaver is shortsighted, when we ought to be  supporting lower income earners and young people  to grow their retirement savings.  On the other hand the Government has significantly expanded the ability for SuperGold card holders to claim rates rebates. It looks like a case of valuing the priorities of older property owners over the  future retirement savings of today’s workers.”

    “The Budget reflects choices about what the Government values and how it’s going to pay for those things.  This budget shows the government does not value the work of the least well-off in New Zealand, who are paying for its austerity,” says Glenn Barclay.

    “It is inescapable that we need to generate more revenue to pay for the public goods New Zealanders value, like public healthcare, education, transport and housing. It is wrong to pretend that we can deliver the kind of society New Zealanders want now and in the future by constantly reducing the collective pool,” says Glenn Barclay.

    “Successive governments have failed to ensure we’re collecting enough revenue to meet our needs and ensure those who can afford to contribute more, make that contribution. Polling indicates New Zealanders want increased investment in public services and think that the wealthy should be contributing more,” says Glenn Barclay.

    “Today’s Budget fails to grapple with that challenge  to respond to what the New Zealand public wants.  With this Budget the government continues to ask more of those who have the least.”

    “We call on the Government to consider common sense taxes that many other countries already have, like a capital gains tax and a wealth tax, so we have enough revenue to allocate to the public goods that enable all New Zealanders to thrive.”

    The Better Taxes for a Better Future Campaign is a coalition of over 20 organisations led by Tax Justice Aotearoa.

    We believe that tax reform is the only solution to the current challenges facing Aotearoa NZ.  We need the tax system to:

    be transparent
    raise more revenue to enable us address the challenges we face
    make sure people who have more to contribute make that contribution: that we gather more revenue from wealth, gains from wealth, all forms of income, and corporates
    make greater use of fair taxes to promote good health and environmental health
    address the tax impact on the least well off in our society.

    MIL OSI New Zealand News –

  • MIL-OSI USA: Former Defense Contractor Pleads Guilty to Tax Crimes

    Source: US State of California

    Defendant Admits Concealing 50% Ownership of $7B Defense Contracting Business to Evade Taxes

    A former defense contractor pleaded guilty today to tax crimes related to his scheme to defraud the United States and evade taxes on income that he earned from his contracts with the U.S. Department of Defense.

    The following is according to court documents and statements made in court: Douglas Edelman founded and owned 50% of Mina Corp. and Red Star Enterprises (Mina/Red Star), a defense contracting business that received more than $7 billion from contracts with the U.S. Department of Defense to provide jet fuel in the United States’ post-9/11 military efforts in Afghanistan and the Middle East.

    Working with others, Edelman engaged in a lengthy scheme to hide his Mina/Red Star profits to evade U.S. taxes, including by concealing his income in undisclosed foreign bank accounts, creating false documents and making false statements that one of his co-conspirators — a French citizen residing abroad and without U.S. tax obligations — founded and owned Mina/Red Star.

    For example, when the company became profitable in 2005, Edelman began taking distributions which he deposited into Swiss bank accounts, primarily at Credit Suisse, in the name of other companies he owned. In 2008, Credit Suisse informed Edelman that he had to either close his accounts or disclose them to U.S. authorities. Rather than come into compliance with his tax and reporting obligations, Edelman closed his accounts and opened new ones at Bank Julius Baer in Singapore in the name of a nominee entity, the beneficiaries of which were purportedly Edelman’s daughters. He then directed the subject income he earned from Mina/Red Star to those bank accounts.

    In 2010 the U.S. House of Representatives Committee on Oversight and Government Reform’s Subcommittee on National Security and Foreign Affairs began investigating allegations of corruption in connection with Mina/Red Star’s contracts with the Department of Defense. As part of this inquiry, the subcommittee became interested in the identity of Mina/Red Star’s owners. At this time, Edelman had not filed U.S. tax returns to report the millions of dollars he had earned from Mina/Red Star and had not paid U.S. taxes on his income.

    Rather than disclose his ownership, Edelman caused his attorneys to tell Congress a false story that a French co-conspirator who had no U.S. tax or reporting obligations founded and co-owed Mina/Red Star with another individual. To corroborate the false story, Edelman and a co-conspirator caused false and backdated paperwork to be created.

    To continue the scheme, Edelman conveyed the false story about Mina/Red Star’s ownership to other arms of the U.S. government, including to the Department of Defense during contract negotiations in 2010 and 2011, to the IRS in a 2016 application to the Offshore Voluntary Disclosure Program, and to the Justice Department in a 2018 presentation.

    In conjunction with his 2016 application to the IRS’s Voluntary Disclosure Program, Edelman filed false tax returns for several prior years that only reported income from gifts or purported consulting payments, continuing to conceal the millions he had earned from his company. On the returns, he  also concealed profits he had earned from a separate business to provide internet service to members of the armed forces at Kandahar Air Base in Afghanistan.

    Instead of paying the taxes that he knew he owed, Edelman used the money to fund his lifestyle and additional investments. He invested in a music television franchise in Eastern Europe, a land venture in Tulum, Mexico, and a farm in Kenya, and purchased property around Europe, including a home in Ibiza, Spain, and a townhouse in London.

    Edelman faces a maximum penalty of five years in prison for each count to which he has pleaded. He also faces a period of supervised release, restitution, and monetary penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division, U.S. Attorney Jeanine Ferris Pirro for the District of Columbia, and Executive Special Agent in Charge Kareem Carter of the Criminal Investigation (IRS-CI) Washington, D.C., Field Office made the announcement.

    Special agents from IRS-CI’s International Tax & Financial Crimes specialty group, a team based out of Washington, D.C., that is dedicated to uncovering international tax crimes, along with the Special Inspector General for Afghanistan Reconstruction are investigating the case. The Justice Department’s Office of International Affairs assisted in the investigation. Also providing assistance were His Majesty’s Revenue & Customs of the United Kingdom; the Joint Chiefs of Global Tax Enforcement (J5), which brings together the taxing authorities of Australia, Canada, the Netherlands, the United Kingdom, and the United States; and authorities from Belize, Israel, and Cyprus.

    The Government of the Kingdom of Spain arrested and extradited Edelman to the United States. The Justice Department’s Office of International Affairs also provided substantial assistance in securing Edelman’s arrest and extradition.

    Assistant Chief Sarah Ranney and Trial Attorney Ezra Spiro of the Tax Division and Assistant U.S. Attorney Joshua Gold for the District of Columbia are prosecuting the case. 

    MIL OSI USA News –

  • MIL-OSI: MiL.k (MLK) Achieves its Arbitrum Migration with Over 80,000 Wallets in Five Weeks

    Source: GlobeNewswire (MIL-OSI)

    SEOUL, South Korea, May 22, 2025 (GLOBE NEWSWIRE) — In the latest news, MiL.k shatters all records with over 80,000+ wallets migration to Arbitrum within a month. Following its official migration to Arbitrum, the platform gained momentum across the Layer 2 ecosystem. Over 80,000 users successfully transitioned their MLK assets to the Arbitrum network, marking a major shift in MiL.k’s technical and strategic direction.

    According to the DappRadar data as of May 14, the project now achieves an unprecedented milestone within just five weeks of the April 10 migration.

    Known for connecting traditional reward systems with decentralized infrastructure, MiL.k enables users to convert real-world loyalty points from airlines, retailers, and travel agencies into Milk Coin (MLK), its native utility token.

    The Web2-to-Web3 bridging model has led MiL.k to form strategic partnerships with major conglomerates including AirAsia, OK Cashbag (Loyalty platform operated by SK Group, the second largest group in Korea) and L.Point (Loyalty platform operated by Lotted Group), and NOL, Korea’s largest online travel agency. These integrations go beyond symbolic collaborations—users actively redeem and exchange points through MiL.k’s mobile application, which has become a popular lifestyle app in South Korea. Services like booking flights with AirAsia mileage or exchanging offline retail points into MLK for real-time liquidity are already live, and adoption continues to grow. The platform has reported consistent monthly active user growth, driven by its ease of use and the tangible financial value users gain from consolidating previously siloed loyalty assets.

    In addition to on-chain traction, MiL.k launched its first decentralized trading pool on Camelot, a leading DEX native to Arbitrum, where the MLK-ETH pair has already surpassed $450,000 in trading volume. The project also partnered with Galxe, a credential-based Web3 platform with over 33 million users, onboarding thousands of new global participants through its post-migration quest campaign.

    These developments reflect MiL.k’s growing role as a gateway between mainstream consumers and emerging blockchain infrastructure. Rather than focusing solely on crypto-native audiences, the project leverages its real-world utility and corporate partnerships to draw a wider demographic into Web3 ecosystems. This approach has resulted in steady user base growth, with MiL.k attracting a blend of retail users from Korea’s top mobile services and a growing international user segment engaging via campaigns and liquidity activities.

    1.5M+ Users and Growing Cross-Border Demand
    A MiL.k spokesperson noted, “The success of our Arbitrum migration proves that real-world loyalty programs can evolve into scalable, interoperable assets in the decentralized economy. We’re now entering a phase of cross-sector collaboration—integrating MLK into DeFi, quests, and community-driven applications that align with how modern consumers engage online.”

    With an established user base, measurable product-market fit, and increasing activity across major blockchain platforms, MiL.k is well-positioned to redefine how loyalty points function in the digital economy.

    About MiL.k:

    MiL.k is a South Korea-based blockchain platform that connects loyalty programs from travel, retail, and lifestyle services through its native Milk Coin (MLK). The project enables seamless exchange and integration of reward points across service providers, offering users real value and liquidity. Having secured partnerships with some of Asia’s leading corporations, MiL.k recently joined the Arbitrum ecosystem to expand its global reach and bring loyalty assets into the Web3 age.

    Media Contact:

    Company name: Milk Partners Co., Ltd.
    Contact Person: Lily Lee
    Contact Person title: Head of Partnerships
    Email: info@milkplay.com
    Company Website: https://milkplay.com/?lang=en

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

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/bc74a43f-9a21-4d2b-a1f5-aecb88572b6c

    https://www.globenewswire.com/NewsRoom/AttachmentNg/176c0790-5ad1-4386-a82a-b6cedf2576f6

    https://www.globenewswire.com/NewsRoom/AttachmentNg/d0c9ed8e-0f44-4e31-9a48-58b437e01ec1

    The MIL Network –

  • MIL-OSI USA: Congresswoman Schrier Introduces Bipartisan, Bicameral Legislation to Invest in Agriculture Research

    Source: United States House of Representatives – Congresswoman Kim Schrier, M.D. (WA-08)

    WASHINGTON, DC –Today, Congresswoman Kim Schrier, M.D. (WA-08) introduced the Augmenting Research and Educational Sites to Ensure Agriculture Remains Cutting-edge and Helpful (AG RESEARCH) Act. This bill aims to support our farmers and strengthen our agriculture industry by increasing federal investment in agriculture research institutions such as Washington State and Central Washington University. Congresswoman Schrier was joined in introducing this legislation by Congressman Tracey Mann (KS-01), and a companion bill was introduced by Senators Mazie Hirono (D-HI) and Jerry Moran (R-KS). 

    “Our agriculture industry employs thousands of hardworking Washingtonians and is vital to our nation’s long-term strength, security, and prosperity. In the face of a changing climate and increased pressure on our food supply, we must support our farmers in any way we can,” said Congresswoman Schrier, M.D. “Research institutions are essential for our farmers’ success – they discover solutions to agriculture’s most pressing challenges and are fundamental to successful food production and soil health. For far too long, these institutions have been underfunded, putting us at risk of falling behind the rest of the world. My bill will put the necessary investment into these institutions and provide much-needed assistance for our farmers.” 

    Today’s farmers face unprecedented challenges such as extreme droughts and floods, increased pest and disease pressures, and feeding a growing population with less working land. Research institutions play a crucial role within the agriculture industry, providing innovative solutions to the obstacles that our farmers face. Unfortunately, funding for these institutions has stagnated, with the United States falling billions of dollars behind China and other nations in agriculture research investment. Congresswoman Schrier’s bill solves this issue by authorizing $2.5 billion in mandatory spending and authorizing an additional $1 billion in discretionary appropriations over 5 years to provide infrastructure grants to agricultural research facilities.

    “Over the years, land-grant universities have surpassed their original vision of agricultural education and now conduct cutting-edge agricultural research that supports food security around the globe,” said Congressman Mann. “The U.S. sees a $20 return on every dollar we invest in agricultural research, yet funding for these institutions has declined in real dollars over the past two decades and handcuffed their ability to maintain up-to-date facilities. Our bill supports agricultural research, development, and innovation at these land grant universities and puts taxpayer dollars in places with a guaranteed return on investment. When we make strong investments in food and agricultural research, we invest in the next generation of America, and in our food security and national security.” 

    “Agriculture research institutions are crucial in supporting farming communities and driving innovation in the agriculture industry,” said Senator Hirono. “Decades of underinvestment have left many of these institutions across our country with significant maintenance backlogs, and this legislation will provide much-needed financial support to enable agriculture schools and research facilities to make the critical upgrades and updates they need. I’m glad to join my colleagues in reintroducing the AG RESEARCH Act to support these institutions and strengthen our agricultural communities.”

    “For American farmers and ranchers to continue producing the best food, fuel and fiber in the world, we must maintain the best research institutions in the world,” said Senator Moran. “This legislation will support the work at institutions like Kansas State University by allowing them to modernize their facilities and continue a long history of innovation and supporting the agricultural industry.”

    “Investment in the Research Facilities Act will be transformative, and we applaud Senators Moran and Hirono, as well as Representatives Mann and Schrier, for their commitment to ensuring our agricultural scientists have the tools they need to spur the next generation of agricultural innovation,” said Dr. Doug Steele, Vice President of Food, Agriculture and Natural Resources at APLU. 

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Multi-million defence investment creates 700 jobs days after UK-EU security pact

    Source: United Kingdom – Executive Government & Departments

    Press release

    Multi-million defence investment creates 700 jobs days after UK-EU security pact

    Hundreds of high-skilled jobs created at defence firm MBDA’s expanded Bolton site.

    • Hundreds of high-skilled jobs created at defence firm MBDA’s expanded Bolton site, working on cutting-edge missile system manufacturing technology
    • Announcement comes just days after the Government signs new Security and Defence Partnership that will boost defence procurement opportunities for UK.
    • Business Secretary Jonathan Reynolds will visit site and hail investment as latest vote of confidence in Government’s upcoming modern Industrial Strategy.

    Britain’s defence industry received yet another boost this week as 700 high-skilled jobs are set to be created following a £200 million investment from European defence company MBDA at its site in Bolton.

    The announcement follows new Security and Defence Partnership signed at this week’s EU-UK Summit which will open the door to the EU’s new weapons scheme, leading to significant opportunities for the UK’s world-leading defence industries, driving growth and supporting 430,000 British jobs and livelihoods.

    This is the latest win for the UK’s leading defence and advanced manufacturing sectors and is further proof the Government’s Plan for Change is working.

    It also represents a major vote of confidence in the upcoming modern Industrial Strategy, which will drive investment in the UK’s high-growth sectors by giving businesses the certainty they need to commit to the UK.

    Business Secretary Jonathan Reynolds will visit MBDA’s Bolton site today (22 May) to formally announce the investment, which forms part of a wider £500 million commitment from the company to expand its UK manufacturing and technologies.

    Business Secretary Jonathan Reynolds said:

    This is great news for Bolton and another win for our world-class defence sector, which will create hundreds of good, well-paid jobs and ensure the UK continues to lead the way on the cutting-edge technologies of the future.

    Our new Security and Defence Partnership will unlock access to the EU’s proposed new £150 billion defence fund for UK firms. Coupled with the launch of our upcoming modern Industrial Strategy, communities across the country will see how our Plan for Change is working – delivering growth at home and strength abroad.

    The investment from MBDA, a leading missile systems manufacturer, will more than double its Bolton footprint by 2028 and grow its apprenticeship and STEM outreach programme, which already includes over 400 early-career professionals UK-wide.

    It also supports MBDA’s goal to deliver £10 billion of UK exports by 2032, cementing the UK’s position as a leader in the manufacturing and export of complex weapons systems, and comes after the Government announced a £6.5 billion complex weapons partnership with MBDA in July 2024.

    MBDA UK Managing Director Chris Allam said:

    We are proud and excited to be building a world class engineering and manufacturing campus in the north-west of England, the centre of complex weapons manufacturing for the UK, and our associated recruitment and training will extend our already great workforce.

    MBDA is privileged to have a 10-year Complex Weapons portfolio agreement with the UK Government. This gives us the confidence to invest and better support the UK and its allies. It also helps our supply chain and over 700 SMEs who work with MBDA in the UK. When we expand, they expand with us.

    Megan, a manufacturing apprentice at MBDA’s Bolton site, said:

    It’s great that our site is expanding and there will be more early-careers opportunities for young people. Becoming an apprentice was an obvious choice for me. Having the chance to learn as part of my full-time job and achieve a recognised qualification and career made it a very easy decision.

    Apprenticeships can be unique experience for each person. They provide the chance to excel in industries people are passionate about, and the experiences they get will shape their future. Making the most out of my apprenticeship has led to reward and recognition for my hard work, and I always encourage others to study STEM subjects and do the same.

    UK Export Finance CEO Tim Reid said:

    Pioneering companies like MBDA UK investing in their people and technologies for the long-term underscore why we are a world leader in defence.

    Thanks to our multi-billion-pound direct lending uplift, we can support even more defence firms to expand their production lines and take on more international orders from allies – leading to greater economic growth, stronger supply chains and local jobs back here at home.

    The Government is backing the defence sector to deliver skilled jobs and growth across the country as part of its Plan for Change and is providing significant financial support to UK defence companies through UK Export Finance (UKEF).

    In March this year, the Chancellor announced a £2 billion increase in UKEF’s Direct Lending capacity for defence exports, taking its overall lending capability to £10 billion.

    The UK is one of the largest exporters of defence equipment in the world, and in 2023 the UK won defence contracts worth £14.5 billion.

    Updates to this page

    Published 22 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI: $PUFFER Launches on BNB Chain as Puffer Finance Unveils New Roadmap

    Source: GlobeNewswire (MIL-OSI)

    GEORGE TOWN, Cayman Islands, May 22, 2025 (GLOBE NEWSWIRE) — Puffer Finance, the leading innovator in Ethereum infrastructure, has announced that its native utility token $PUFFER has been added to BNB Chain, while unveiling a comprehensive roadmap update.

    The launch of $PUFFER on BNB Chain significantly expands Puffer Finance’s reach and accessibility within the broader crypto ecosystem, with BNB Chain providing $PUFFER with enhanced liquidity, faster transaction speeds and exposure to millions of active DeFi participants. $PUFFER has also been featured on Binance Alpha, with 362 PUFFER tokens being airdropped to each eligible Binance user who has at least 186 Alpha points. Additionally, a lucky airdrop of 362 PUFFER tokens has been distributed to all users whose Alpha Points are between 147 and 185 (inclusive) and their Binance UIDs end in 5.

    Puffer Finance has also updated its roadmap through H2 2026, including the upcoming launch of an AI-driven Puffer AppChain Marketplace and MCP models for the UniFi AppChain.

    While Ethereum commands 63% of global DeFi Total Value Locked (TVL) and is riding a renewed wave of momentum, it needs scalable infrastructure that doesn’t sacrifice composability. Addressing this barrier to the ecosystem’s growth, Puffer Finance’s revolutionary rollup framework ‘UniFi’ transforms Ethereum’s rollup-centric roadmap into a positive-sum environment for developers, users, and validators alike.

    Initially launched as a Liquid Restaking Token (LRT) protocol, Puffer has rapidly evolved into a full-fledged infrastructure platform, delivering three integrated innovations:

    • Decentralized LRT: Anti-slashing, high-yield staking token aligned with Ethereum’s core principles.
    • UniFi Based Rollup Stack: A simplified, based L2 architecture enabling seamless L1-L2 and L2-L2 atomic composability.
    • Puffer Preconf: The first-ever preconfirmation AVS on EigenLayer, offering sub-second transaction finality.

    Together, these components enable fast, composable, and economically aligned interactions across the Ethereum network, allowing app chains to thrive in a way that’s faster, cheaper, and more secure. As the native utility token for Puffer Finance, $PUFFER plays a crucial role across the company’s suite of solutions. $PUFFER token holders will be able to vote on key decisions that shape the future of the ecosystem, such as protocol upgrades, fee adjustments, and new feature proposals for Puffer Preconf, UniFi Rollup, and Puffer Liquid Restaking Token (LRT). All three products will generate treasury rewards, of which future $PUFFER holders will be responsible for managing, driving long-term sustainability.

    What Makes UniFi ‘Based’?
    Unlike traditional optimistic or zk-rollups, based rollups like UniFi are sequenced directly by Ethereum validators. This architecture offers:

    • Liveness + decentralization inherited from Ethereum L1
    • Simplified infrastructure, no centralized sequencer needed
    • Fast execution through preconfirmations (~100ms)
    • Revenue alignment with Ethereum through sequencing fees and MEV
    • Reduced operational costs, increasing accessibility

    This model creates new economic incentives for Ethereum validators while delivering a significantly better user and developer experience.

    Atomic Composability, Unified Liquidity, Real-Time Finality
    UniFi allows developers to launch app chains as easily as deploying a smart contract, while enjoying atomic composability across Ethereum and other UniFi-based rollups. That means:

    • Cross-chain swaps, yield strategies, and interactions executed in one Ethereum block
    • Elimination of bridges and the risks they introduce
    • Near-instant transaction assurance via UniFi Preconf AVS, powered by EigenLayer restaking

    Revenue-Generating Infrastructure, Tokenized Incentives
    Through sequencing fees, preconfirmation tips, and transaction-based yield flowing into native tokens (pufETH & unifiETH), Puffer creates sustainable value across Ethereum. Governance and incentive alignment are further enhanced by the new vePUFFER model:

    • Decentralized Governance via locked PUFFER voting
    • Tradeable Points & Bribery Market for yield optimization
    • Dynamic, community-driven rewards tailored to ecosystem engagement

    Amir Forouzani, Co-founder of Puffer Labs said: “As Ethereum enters its most promising DeFi cycle yet, Puffer’s UniFi provides the architecture, alignment, and execution needed to meet global scale. Deploying on BNB Chain extends this vision by connecting Ethereum-native innovation with one of the largest and most active blockchain ecosystems. We are just getting started.”

    The announcement comes just weeks after the launch of Puffer’s cutting-edge institutional staking and restaking solution, designed to help institutions unlock higher yields on their Ethereum holdings without compromising on security, compliance or operational control. With Puffer’s institutional solution, organizations can confidently stake and restake their assets with both security and profitability in mind. This solution is ideal for asset managers, custodians, DAOs, family offices and other institutions looking to optimize staking performance while maintaining control over custody, compliance and execution.

    $PUFFER on Ethereum: 0x4d1C297d39C5c1277964D0E3f8Aa901493664530

    $PUFFER on BNB Chain: 0x87d00066cf131ff54B72B134a217D5401E5392b6

    About Puffer Finance
    Puffer Finance is at the forefront of Ethereum infrastructure innovation, focusing on next-generation rollups backed by liquid restaking (LRT) and pre-confirmation technology as an Anti-Value Sniping (AVS) mechanism. Through products like Puffer UniFi and Puffer UniFi AVS on EigenLayer (decentralized re-staking protocol), Puffer Finance is dedicated to advancing Ethereum’s decentralization. As per DeFiLlama, the protocol currently has $832 million in total value locked (TVL) with $8.0 billion staked on AVS. The Puffer Finance token (PUFFER) is listed on major exchanges such as Bybit, Kraken, and Bitget. To learn more, visit www.puffer.fi.

    Media contact:
    media@puffer.fi
    https://www.puffer.fi/
    Contact name: Lorcan B

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

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    The MIL Network –

  • MIL-OSI: Nokia and Three Sweden expand access to fast broadband through 5G Fixed Wireless Access for improved connectivity

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia and Three Sweden expand access to fast broadband through 5G Fixed Wireless Access for improved connectivity

    • New options for high-speed broadband where fiber is unavailable.
    • Stronger local market presence for Nokia in Fixed Wireless Access (FWA).
    • Nokia FastMile 5G Gateway 2 brings faster high-performance broadband delivery.

    22 May 2025
    Espoo, Finland: Nokia has been selected by Hi3G Access AB (known as ‘Three’ in Sweden) to supply its high-performance Fixed Wireless Access (FWA) technology towards Three’s Business to Business (B2B) customers. The collaboration enables Three Sweden to offer faster, more accessible, reliable high-capacity broadband to households and small businesses across the country – particularly in areas not yet covered by fiber networks.

    This milestone deployment brings a new, trusted Western vendor into the Swedish FWA market and strengthens Nokia’s position in one of the most competitive broadband markets in Europe. With Nokia’s FastMile 5G Gateway 2, users will benefit from easier access to reliable, high-speed internet where fiber is not available or would be too expensive to deploy. For consumers and businesses, this means the ability to stream, work, study and connect faster than ever before, even in hard-to-reach or underserved areas.

    “Our goal is to give customers broadband they can trust, which is fast, reliable and ready to support whatever they want to do online. Nokia’s solution gives us the quality and performance we need, and it’s backed by a company we know we can trust to scale with us,” said Patrik Flodin, Product Manager at Three Sweden.

    “Welcoming Three Sweden as a new customer is a significant moment in our FWA journey. This project reflects our shared ambition to deliver dependable, high-performance broadband experiences using mobile networks as the foundation. With one of the best 5G FWA solutions in the market, Nokia supports operators who want to scale fixed, wireless and mobile broadband quickly and cost-effectively,” added Peter Wennerström, Country Manager for Sweden at Nokia.

    This cooperation reinforces Nokia’s commitment to supporting service providers across Europe as they address the digital divide and offer high-performance connectivity to more users more efficiently.

    Multimedia, technical information and related news
    Product Page: Fixed Wireless Access

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

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

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

    About Hi3G Access AB (known as ‘Three’ in Sweden)
    Three Scandinavia (Hi3G Access AB) was founded in December 2000 with the vision of creating an entirely new platform for mobile communication. Today, Three owns and operates 3G, 4G, and 5G mobile networks in Sweden and Denmark and has approximately 2,000 employees. Three Scandinavia, part of the global 3 Group with operations in eleven countries, is owned by Hong Kong-based CK Hutchison (60%) and Swedish Investor AB (40%). Learn more about Three at www.tre.se and about the 3 Group at www.three.com.

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
    LinkedIn X Instagram Facebook YouTube

    The MIL Network –

  • MIL-OSI: Municipality Finance issues a NOK 500 million social bond tap under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    22 May 2025 at 10:00 am (EEST)

    Municipality Finance issues a NOK 500 million social bond tap under its MTN programme

    On 23 May 2025 Municipality Finance Plc issues a new tranche in an amount of NOK 500 million to an existing social bond issued on 20 February 2024. With the new tranche, the aggregate nominal amount of the social bond is NOK 2.5 billion. The maturity date of the social bond is 20 February 2029. The social bond bears interest at a fixed rate of 4.00 % per annum.

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

    MuniFin has applied for the new tranche to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 23 May 2025. The existing notes in the series are admitted to trading on the Helsinki Stock Exchange.

    Nordea Bank Abp acts as the Dealer for the issue of the new tranche.

    MUNICIPALITY FINANCE PLC

    Further information:

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

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

    MuniFin builds a better and more sustainable future with its customers. Our customers include municipalities, joint municipal authorities, wellbeing services counties, joint county authorities, corporate entities under the control of the above-mentioned organisations, and affordable social housing. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

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

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

    Important Information

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

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

    The MIL Network –

  • MIL-OSI Australia: Generous benefactors lead Bendigo Art Gallery philanthropic campaign

    Source: New South Wales Ministerial News

    A dedicated philanthropic fundraising campaign has ensured the Bendigo Art Gallery redevelopment can proceed.

    Led by the Sidney Myer Fund and The Ian Potter Foundation, contributing $4M and $3M respectively, together with a number of private donors, the philanthropic campaign has achieved a total of $9.35M to date. The largest private donation of $1.5M has come from arts philanthropist, Dr Mark Nelson, who has connections to the Bendigo region.

    The campaign, driven by the Gallery and a philanthropic fundraising committee chaired by Andrew Myer AM, has generated the largest-ever private investment in the development of civic infrastructure owned and operated by the City of Greater Bendigo.

    Mayor Cr Andrea Metcalf said this incredible financial support reflected the value of the Gallery to Greater Bendigo and to the state of Victoria.

    “Two of Australia’s most respected philanthropic foundations connected to the arts have embraced the opportunity to support our redevelopment, recognising the vital connection of culture and creativity to our community and the local economy,” Cr Metcalf said.

    “In particular, we are delighted to have the support of the Sidney Myer Fund, a name that has had a long connection to Bendigo and also to the Gallery, including the Sidney Myer Work on Paper Gallery added in 2014.

    “We sincerely thank Andrew Myer for chairing the fundraising committee and for his incredible enthusiasm for this project and the legacy it will leave.

    “Philanthropy is an incredible, living gift for those in the fortunate position to contribute in this way, and the City and Gallery are truly grateful to the foundations and individuals who have kindly chosen to contribute to this next chapter in the history of our esteemed Gallery.”

    Sidney Myer Fund Chairman Andrew Myer AM said his grandfather, Sidney Myer, opened the first Myer store in Bendigo 125 years ago and the city had been part of his family’s DNA ever since.

    “My grandfather believed strongly that art, culture and creativity were vital to a good life, and that everyone in the community deserved to have access. Bendigo Art Gallery puts that belief into action and the Sidney Myer Fund is delighted to be able to support this major redevelopment that will serve the people of Bendigo for decades to come,” Mr Myer said.

    The Ian Potter Foundation CEO Paul Conroy said the Foundation was delighted to support a regional gallery with such a strong reputation.

    “The redevelopment plans are impressive and focus on the Gallery’s ability to grow visitation and participation, including education programs. Investing in this project strengthens this community asset that will provide further benefits for the wider Bendigo community through access to the arts, increased tourism and subsequent economic growth,” Mr Conroy said.

    Bendigo Art Gallery Director Jessica Bridgfoot said this level of philanthropic support was unprecedented for Bendigo Art Gallery.

    “It is an acknowledgement of the transformative impact arts and culture can have on a regional community and we truly appreciate our donors’ investment in the Gallery and Greater Bendigo,” Ms Bridgfoot said.

    “During the construction phase, residents and patrons of the Gallery will have the opportunity to be part of this exciting project and make a philanthropic contribution of their own, with further details to be shared on how these funds will be used.

    “At the heart of this project has been a vision to ensure the redevelopment delivers ‘The People’s Gallery’ – a space that is dynamic, inviting, accessible and inspiring for all who visit.

    “We know the Gallery is treasured by our community and there will be many people, no matter the size of their donation, who will want to contribute to this transformative project for the Gallery and Greater Bendigo.”

    The construction budget is made up of $21M from the Victorian Government, $9M from the City of Greater Bendigo, $4M from the Gallery Board and $9.35M from philanthropic donations, and is enough for the project to proceed. 

    MIL OSI News –

  • MIL-OSI Banking: Algeria officially becomes member country of New Development Bank

    Source: New Development Bank

    Algeria has officially become a new member country of the New Development Bank (NDB).

    On May 19, 2025, Algeria deposited its instrument of accession, in line with the provisions of the Articles of Agreement of the New Development Bank.

    “On behalf of New Development Bank, I truly congratulate Algeria for joining the Bank. Algeria plays an important role not only in the economy of Northern Africa, but also at a global scale, and will definitely contribute to enhancing NDB’s position in the global financial arena,” said H.E. Mrs. Dilma Rousseff, NDB President.

    “Rich in natural resources, with a dynamic economy and strategic geographic position, Algeria has immense potential for growth and development. NDB is fully committed to becoming a reliable and trustworthy partner for Algeria, supporting its sustainable development agenda,” said President Dilma Rousseff.

    “The New Development Bank is a financial institution mobilizing resources for infrastructure and sustainable development projects. It is a platform for collaboration and knowledge sharing among its member countries. Together with Algeria, we will work to finance impactful projects that drive progress, improve lives, and contribute to development,” added President Dilma Rousseff.

    “We are delighted to announce the formalization of Algeria’s membership of the New Development Bank and thus becoming a full member of this prestigious international financial institution,” said H.E. Mr. Abdelkrim Bouzred, Minister of Finance of the People’s Democratic Republic of Algeria. “This membership is a testament to our belief in this institution’s vital role in financing global development, and its status as a key player capable of providing alternative and innovative solutions to promote the growth and resilience of its member countries’ economies.”

    “I remain convinced that my country’s membership of the NDB will create promising opportunities for collaboration and mutual support,” said Mr. Abdelkrim Bouzred.

    NDB’s membership expansion is in line with the Bank’s strategy to become a leading provider of solutions for infrastructure and sustainable development for emerging market economies and developing countries (EMDCs).

     

    Background information

    Established in 2015 by BRICS countries (Brazil, Russia, India, China and South Africa), the New Development Bank is a multilateral development bank aimed at mobilizing resources for infrastructure and sustainable development projects in BRICS and other EMDCs. Complementing the ongoing efforts of other multilateral and regional financial institutions, NDB aims to contribute to global growth and development by helping address the needs and aspirations of EMDCs.

    Since its establishment in 2015, NDB approved over 120 investment projects totalling USD 40 billion and spanning several key areas, including clean energy and energy efficiency, transport infrastructure, environmental protection, water supply and sanitation, social infrastructure and digital infrastructure.

    MIL OSI Global Banks –

  • MIL-OSI United Kingdom: Stormont establishment sign off on tend for SECOND “Media Monitoring Unit” at Taxpayers’ Expense

    Source: Traditional Unionist Voice – Northern Ireland

    Timothy Gaston said:
    “Earlier this week I exposed the fact that the Department of Finance’s so-called “media monitoring unit” — a unit that operates in the shadows and which the public didn’t know about, is diverting civil servants away from actual governance to the task of transcribing opposition voices on radio shows. That operation already stinks of political paranoia and waste.
    “But now, we learn that the Assembly Commission is putting out a tender — at a cost to the taxpayer of £35,000 — for yet another media monitoring contract, on top of the existing Executive-wide service provided by the Department of Finance.
    “ Not one, but two layers of taxpayer-funded media monitoring operating from Stormont. This latest contract, funded by the public through the Assembly Commission, would have to have been agreed by the parties which sit on the commission – Sinn Fein, the DUP, Alliance, the UUP and the SDLP. Not only has the Commission not explained why it needs this service but without the Belfast Telegraph uncovering the tender we wouldn’t even know about it.
    Have none of the establishment parties any regard for the public purse?
    We are facing crises in our health service, our education system is under pressure, and public services are being stretched to breaking point. But the Assembly Commission — charged with the stewardship of Stormont — can find £35,000 of public money to transcribe criticism of the Assembly on the media. It’s outrageous.
    “If £35,000 can be casually spent duplicating media monitoring then the public is entitled to ask whether this place is truly serving them, or simply serving itself.
    “This is not about good governance. It is about control. It is about shielding those in power from scrutiny by keeping tabs on those who dare to question them. The use of public funds for political surveillance under the guise of “monitoring” is not merely wasteful — it is profoundly dangerous.
    “The TUV will not be cowed. We will continue to speak out, even if every word is being logged, filed, and whispered about in backrooms. But let us be absolutely clear: this is an abuse of public money, a duplication of resources, and a betrayal of the public trust.
    “It is time for the Assembly Commission to explain itself — or pull the tender.”
    Note to editors

    You can find details of the tender online here.

    MIL OSI United Kingdom –

  • MIL-OSI: Directorate Changes

    Source: GlobeNewswire (MIL-OSI)

    HARGREAVE HALE AIM VCT PLC

    LEI: 213800LRYA19A69SIT31        

    22 May 2025

    Directorate Changes

    Hargreave Hale AIM VCT plc (the “Company”) announces that Busola Sodeinde has stepped down from her role as Non-Executive Director with effect from 21 May 2025.

    Having considered the composition of the Board and in particular the number of independent Directors, Oliver Bedford, the lead manager at Canaccord Asset Management in relation to the Company, has also resigned from his position as a Non-Executive Director with effect from 21 May 2025. He will continue in his role as lead manager in relation to the Company.

    Due to the size and nature of the Company and the costs associated with appointing a Non-Executive Director, the Board have decided that no new Non- Executive Directors will be appointed to the Board at the current time.

    Commenting on today’s announcement, David Brock, Chair, said:

    “On behalf of the Board I would like to thank Busola and Oliver for the contribution they have made to the Company during their time on the Board. Their support and insight have been greatly appreciated by the Board and the Company. We wish Busola all the best in the future and look forward to continuing to work with Oliver in his role at the Investment Manager.”

    This announcement is made in accordance with UK Listing Rule 6.4.6.

    For further information please contact:

    Oliver Bedford, Canaccord Asset Management

    Tel: 020 7523 4837

    The MIL Network –

  • MIL-OSI: Euronext launches an offering of bonds due 2032 convertible into new shares and/or exchangeable for existing shares (“OCEANEs”) for a nominal amount of €425 million

    Source: GlobeNewswire (MIL-OSI)

    Euronext launches an offering of bonds due 2032 convertible into new shares and/or exchangeable for existing shares (“OCEANEs”) for a nominal amount of €425 million

    Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – 22 May 2025 – Euronext (ISIN Code: NL0006294274) (the “Company”), the leading European capital market infrastructure, announces today the launch of an offering of senior unsecured bonds due 2032 convertible into new shares and/or exchangeable for existing shares of the Company (“OCEANEs”) (the “Bonds”), by way of a placement to qualified investors only (within the meaning of Article 2(e) of the Prospectus Regulation (as defined below)), for a nominal amount of €425 million (the “Offering”).

    On 17 April 2025, the Company entered into a bridge loan facility with, among others, affiliates of the joint bookrunners appointed in the context of the Offering, to finance the acquisition of Admincontrol. The net proceeds from the Offering will be used by the Company for the repayment of a portion of such bridge financing and general corporate purposes.

    Main terms of the Bonds

    The Bonds will be issued with a denomination of €100,000 each (the “Principal Amount”), will be convertible and/or exchangeable into new and/or existing shares of Euronext (the “Shares”) and are expected to pay a fixed coupon at a rate between 1.5% and 2.0% per annum, payable semi-annually in arrear on 30 May and 30 November of each year (or on the following business day if this date is not a business day), and for the first time on 30 November 2025.

    The initial conversion price of the Bonds will be set between 30% and 35% above the Company’s reference share price on the regulated market of Euronext in Paris (“Euronext Paris”)1. The final terms and conditions of the Bonds are expected to be determined following the completion of the bookbuilding process later today, and settlement and delivery of the Bonds is expected to take place on 30 May 2025 (the “Issue Date”).

    Unless previously converted, exchanged, redeemed or purchased and cancelled, the Bonds will be redeemed at par on 30 May 2032 (or on the following business day if such date is not a business day) (the “Maturity Date”).

    The Bonds may be redeemed prior to the Maturity Date at the option of the Company, under certain conditions.

    In particular, the Bonds may be fully redeemed early at par plus any accrued interest at the Company’s option, subject to a prior notice of at least 30 (but not more than 60) calendar days, (i) at any time from 20 June 2030 (inclusive), if the arithmetic average, calculated over a period of 10 consecutive trading days chosen by the Company from among the 20 consecutive trading days preceding the day of the publication of the early redemption notice, of the daily products on each of such 10 consecutive trading days of the volume weighted average price of the Shares on Euronext Paris over the applicable conversion price on each such trading day, exceeds 130%; or (ii) at any time if 80% or more in principal amount of the Bonds issued (which shall, for the avoidance of doubt, include any tap issues of the Bonds) have been converted/exchanged and/or redeemed and/or purchased by the Company and cancelled.

    Bondholders will be granted the right to convert or exchange the Bonds into new and/or existing Shares (the “Conversion/Exchange Right”) which they may exercise at any time from the 41st day (inclusive) following the Issue Date up to the 7th business day (inclusive) preceding the Maturity Date or, as the case may be, the relevant early redemption date.

    The conversion ratio of the Bonds will be set at the Principal Amount divided by the prevailing initial conversion price, subject to standard adjustments, including anti-dilution and dividend protections, as described in the terms and conditions of the Bonds. Upon exercise of their Conversion/Exchange Right, holders of the Bonds will receive at the option of the Company new and/or existing Shares, carrying in all cases all rights attached to existing Shares as from the date of delivery.

    Application will be made for the admission of the Bonds to trading on Euronext AccessTM in Paris to occur within 30 calendar days from the Issue Date.

    Legal framework of the Offering and placement

    The Bonds will be issued by way of a placement to qualified investors only (within the meaning of Regulation (EU) 2017/1129 (as amended, the “Prospectus Regulation”)) (excluding the United States of America, Australia, Japan, Canada or South Africa), pursuant to the authorization granted by the Company’s annual general meeting held on 15 May 2025 (15th and 16th resolution), without an offer to the public (other than to qualified investors) in any country.

    Existing shareholders of the Company shall have no preferential subscription rights, and there will be no priority subscription period in connection with the issuance of the Bonds or any underlying new Shares to be issued upon conversion.

    Intentions of existing shareholders

    The Company is not aware of the intention of any of its main shareholders to participate in the Offering.

    Lock-up undertaking

    In the context of the Offering, the Company will agree to a lock-up undertaking with respect to its Shares and securities giving access to share capital of the Company for a period starting from the announcement of the final terms of the Bonds and ending 90 calendar days after the Issue Date, subject to certain customary exceptions or waiver from the joint global coordinators appointed in the context of the Offering.

    Dilution

    For illustrative purposes, considering a nominal amount of €425 million, a reference share price of €145.02 and a 32.5% conversion premium corresponding to the mid-point of the marketing range, the potential dilution would represent approximately 2.1% of the Company’s outstanding share capital, if the Conversion/Exchange Right was exercised for all the Bonds and the Company decided to deliver new Shares only upon exercise of the Conversion/Exchange Right.

    Available information
            
    Neither the offering of the Bonds, nor the admission of the Bonds to trading on Euronext AccessTM is subject to a prospectus approved by the Stichting Autoriteit Financiële Markten (AFM) in Netherlands or the Autorité des marchés financiers (AMF) in France. No key information document required by the PRIIPs Regulation or the UK PRIIPs Regulation (as defined below) has been or will be prepared. Detailed information about Company, including its business, results, prospects and the risk factors to which the Company is exposed are described in the Company’s universal registration document for the financial year ended 31 December 2024, filed with the AFM on 28 March 2025 and the Company’s first quarter 2025 results press release which includes the unaudited financial statements of the Company as at and for the three months ended 31 March 2025, which are all available on the Company’s website (https://www.euronext.com/en/investor-relations).

    Important information

    This press release does not constitute or form part of any offer or solicitation to purchase or subscribe for or to sell securities to any U.S. person or to any person in the United States, Australia, Japan, Canada or South Africa or in any jurisdiction to whom or in which such offer is unlawful, and the Offering of the Bonds is not an offer to the public in any jurisdiction (other than to qualified investors within the meaning of Article 2(e) of the Prospectus Regulation) or an offer to retail investors as such term is defined below.

    CONTACTS  

    ANALYSTS & INVESTORS – ir@euronext.com

    Investor Relations        Aurélie Cohen                 

            Judith Stein        +33 6 15 23 91 97          

    MEDIA – mediateam@euronext.com 

    Europe        Aurélie Cohen         +33 1 70 48 24 45   

            Andrea Monzani         +39 02 72 42 62 13 

    Belgium        Marianne Aalders         +32 26 20 15 01                 

    France, Corporate        Flavio Bornancin-Tomasella        +33 1 70 48 24 45                 

    Ireland        Catalina Augspach        +33 6 82 09 99 70                

    Italy         Ester Russom         +39 02 72 42 67 56                 

    The Netherlands        Marianne Aalders         +31 20 721 41 33                 

    Norway         Cathrine Lorvik Segerlund        +47 41 69 59 10                 

    Portugal         Sandra Machado        +351 91 777 68 97                                 

    About Euronext  

    Euronext is the leading European capital market infrastructure, covering the entire capital markets value chain, from listing, trading, clearing, settlement and custody, to solutions for issuers and investors. Euronext runs MTS, one of Europe’s leading electronic fixed income trading markets, and Nord Pool, the European power market. Euronext also provides clearing and settlement services through Euronext Clearing and its Euronext Securities CSDs in Denmark, Italy, Norway and Portugal.

    As of March 2025, Euronext’s regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal host nearly 1,800 listed issuers with €6.3 trillion in market capitalisation, a strong blue-chip franchise and the largest global centre for debt and fund listings. With a diverse domestic and international client base, Euronext handles 25% of European lit equity trading. Its products include equities, FX, ETFs, bonds, derivatives, commodities and indices.

    For the latest news, go to euronext.com or follow us on X and LinkedIn.

    Disclaimer

    This press release is for information purposes only: it is not a recommendation to engage in investment activities and is provided “as is”, without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext. This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is available at www.euronext.com/terms-use.

    © 2025, Euronext N.V. – All rights reserved. 

    The Euronext Group processes your personal data in order to provide you with information about Euronext (the “Purpose”). With regard to the processing of this personal data, Euronext will comply with its obligations under Regulation (EU) 2016/679 of the European Parliament and Council of 27 April 2016 (General Data Protection Regulation, “GDPR”), and any applicable national laws, rules and regulations implementing the GDPR, as provided in its privacy statement available at: www.euronext.com/privacy-policy. In accordance with the applicable legislation you have rights with regard to the processing of your personal data: for more information on your rights, please refer to: www.euronext.com/data_subjects_rights_request_information. To make a request regarding the processing of your data or to unsubscribe from this press release service, please use our data subject request form at connect2.euronext.com/form/data-subjects-rights-request or email our Data Protection Officer at dpo@euronext.com.

    Disclaimer

    The contents of this announcement have been prepared by and are the sole responsibility of the Company.

    The information contained in this announcement is for information purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.

    This announcement is not for publication or distribution, directly or indirectly, in or into the United States. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

    This announcement is an advertisement and not a prospectus within the meaning of Prospectus Regulation.

    This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy, Bonds to any U.S. person or to any person in the United States, Australia, Canada, South Africa or Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The Bonds and the Shares, if any, to be issued upon exercise of the Conversion/Exercise Right (together, the “Securities”) referred to herein may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons unless registered under the US Securities Act of 1933 (the “Securities Act”) or offered in a transaction exempt from, or not subject to, the registration requirements of the Securities Act.

    In addition, until 40 days after the commencement of the Offering, an offer or sale of Bonds within the United States by a dealer (whether or not it is participating in the Offering) may violate the registration requirements of the Securities Act.

    The offer and sale of Securities referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of Australia, Canada, South Africa or Japan. Subject to certain exceptions, the Bonds referred to herein may not be offered or sold in Australia, Canada, South Africa or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada, South Africa or Japan. There will be no public offer of the Securities in the United States, Australia, Canada, South Africa or Japan or elsewhere.

    In member states of the European Economic Area (the “EEA”), this announcement and any offer is directed exclusively at persons who are “qualified investors” within the meaning of Article 2(e) of the Prospectus Regulation (“Qualified Investors”). In the United Kingdom this announcement and any offer is directed exclusively at persons who are “qualified investors” within the meaning of Article 2(e) of the Prospectus Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“EUWA”) (i) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), (ii) who fall within Article 49(2)(A) to (D) of the Order, or (iii) to whom it may otherwise lawfully be communicated (all such persons together with Qualified Investors in the EEA being referred to herein as “Relevant Persons”). This document is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

    This announcement may include statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “plans”, “projects”, “anticipates”, “expects”, “intends”, “may”, “will” or “should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company’s and its group’s business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as of the date they are made.

    Each of the Company, the joint bookrunners appointed in the context of the Offering and their respective affiliates expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this announcement, whether as a result of new information, future developments or otherwise.

    Each of the joint bookrunners appointed in the context of the Offering is acting exclusively for the Company and no-one else in connection with the Offering. They will not regard any other person as their respective client in relation to the Offering and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients, nor for providing advice in relation to the Offering, the contents of this announcement or any transaction, arrangement or other matter referred to herein.

    In connection with the Offering, the joint bookrunners appointed in the context of the Offering and any of their affiliates may take up a portion of the Bonds in the Offering as a principal position and in that capacity may retain, purchase, sell, offer to sell for their own accounts such Bonds and other securities of the Company or related investments in connection with the Offering or otherwise. Accordingly, references to the Bonds being issued, offered, subscribed, acquired, placed or otherwise dealt in should be read as including any issue or offer to, or subscription, acquisition, placing or dealing by, the joint bookrunners appointed in the context of the Offering and any of their affiliates acting in such capacity. In addition, the joint bookrunners appointed in the context of the Offering and any of their affiliates may enter into financing arrangements (including swaps, warrants or contracts for differences) with investors in connection with which the joint bookrunners appointed in the context of the Offering and any of their affiliates may from time to time acquire, hold or dispose of Bonds and/or Shares. The joint bookrunners appointed in the context of the Offering do not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so.

    None of the joint bookrunners appointed in the context of the Offering or any of their respective directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available, or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith.

    Information to Distributors: Solely for the purposes of the product governance requirements of Directive 2014/65/EU on markets in financial instruments, as amended and supplemented (“MiFID II”) and local implementing measures (together, the “Product Governance Requirements”), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any “manufacturer” (for the purposes of the Product Governance Requirements) may otherwise have with respect thereto, the Bonds have been subject to a product approval process, which has determined that: (i) the target market for the Bonds is eligible counterparties and professional clients only, each as defined in MiFID II; and (ii) all channels for distribution of the Bonds to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Bonds (a “distributor”) should take into consideration the manufacturers’ target market assessment; however, a distributor (for the purposes of the Product Governance Requirements) is responsible for undertaking its own target market assessment in respect of the Bonds (by either adopting or refining the manufacturers’ target market assessment) and determining appropriate distribution channels.

    The target market assessment is without prejudice to the requirements of any contractual or legal selling restrictions in relation to any offering of the Bonds.

    For the avoidance of doubt, the target market assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the Bonds.

    PRIIPs Regulation / Prospectus Regulation / Prohibition of sales to EEA and UK retail investors – The Bonds are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the EEA or the UK. For these purposes, a “retail investor” means (a) in the EEA, a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of MiFID II; or (ii) a customer within the meaning of Directive (EU) 2016/97 as amended or superseded (the “Insurance Distribution Directive”), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a Qualified Investor as defined in Article 2(e) of the Prospectus Regulation and (b) in the UK, a person who is one (or more) of (i) a retail client within the meaning of Regulation (EU) No. 2017/565 as it forms part of UK domestic law by virtue of the EUWA or (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 of the UK (the “FSMA”) and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No. 600/2014 as it forms part of UK domestic law by virtue of the EUWA or (iii) not a Qualified Investor as defined in Article 2(e) of the Prospectus Regulation as it forms part of UK domestic law by virtue of the EUWA. Consequently, no key information document required by Regulation (EU) No 1286/2014 (as amended, the “EU PRIIPs Regulation”) or the EU PRIIPS Regulation as it forms part of UK domestic law by virtue of the EUWA (the “UK PRIIPS Regulation”) for offering or selling the Bonds or otherwise making them available to retail investors in the EEA or UK has been prepared and therefore offering or selling the Bonds or otherwise making them available to any retail investor in the EEA or the UK may be unlawful under the EU PRIIPs Regulation and/or the UK PRIIPs Regulation.

    1 The reference share price will be equal to the volume-weighted average price (VWAP) of the Shares recorded on Euronext Paris from the launch of the Offering today until the determination of the final terms (pricing) of the Bonds on the same day.
    2 i.e. Euronext’s share price on Euronext Paris, at close of trading on 21 May 2025

    Attachment

    The MIL Network –

  • MIL-OSI Australia: UPDATE #2: Charges – Fatal pedestrian strike – Palmerston

    Source: Northern Territory Police and Fire Services

    Detectives from Major Crash Investigations Unit have now charged a 43-year-old male in relation to a pedestrian strike that occurred last Thursday.

    He has been charged with Drive motor vehicle cause death, Careless drive cause death and Drive with drug in body. He has been bailed to appear in Darwin Local Court on 3 June 2025.

    MIL OSI News –

  • MIL-OSI: Temenos survey reveals banks doubling down on technology modernization to drive customer experience

    Source: GlobeNewswire (MIL-OSI)

    MADRID, Spain, May 22, 2025 (GLOBE NEWSWIRE) — At the Temenos Community Forum ’25 in Madrid, Temenos, a global leader in banking technology, shared insights from a global study by Hanover Research of 424 business and technology leaders in financial services that underscores a bold shift in banking priorities.

    The research shows financial institutions are accelerating investments in technology, and placing customer experience, innovation, and operational efficiency at the top of their strategic agendas. Investing in technology to improve customer experience emerged as the top strategic priority for 46% of banks worldwide, followed closely by the launch of new products and services (35%), and the pursuit of greater operational efficiency (34%).

    In the face of rapid geopolitical changes, banks need to modernize to be able to predict, understand and adapt rapidly to market changes; capabilities their legacy systems are not equipped to deliver. To meet these demands, (77%) of financial institutions are investing in data analytics and AI-driven insights and 68% in cloud-based core banking systems, all while maintaining a strong focus on protecting both themselves and their customers as a priority.

    Amid the turbulence of inflation, tariffs and trade tensions, most banks anticipate they will increase investment in technology to better protect customers (84%) and technology to enhance operational efficiency (81%). In addition, three quarters of banks plan to increase their investments to improve systems integration (75%) and data analytics (73%).

    Most professionals (81%) agree that if banks do not implement artificial intelligence they will fall behind competitors. While only 11% of banks have fully implemented generative AI today, 43% are in the process, indicating more than half are moving forward with real deployment. Notably, 60% of banking professionals view AI as a tool to augment, not replace the human workforce.

    In her plenary keynote at TCF, Isabelle Guis, Chief Marketing Officer, Temenos, said: “The message is clear: while banks continue to invest in modernization, they’re doing so with a close eye on evolving market dynamics. Financial institutions understand that staying competitive means being ready to adapt and there’s a growing recognition that failing to embrace AI soon could leave them behind.”

    The study results pertaining to AI and Gen AI were discussed on a recent webinar with Jerry Silva, Program Vice President, IDC, Maya Mikhailov, Founder and Chief Executive Officer, Savvi AI and Isabelle Guis, Chief Marketing Officer at Temenos (link).

    About the research

    Conducted by Hanover Research in April 2025, the survey captured insights from 424 senior banking executives across retail, commercial, credit union, and wealth management sectors. All respondents held director-level or higher roles in IT or business functions overseeing products, services, or strategy. The survey had a global reach, with participants from North America (47%), Europe (24%), the Middle East & Africa (17%), Latin America (6%), and Australia/New Zealand (6%).

    The MIL Network –

  • MIL-OSI: Best Personal Loans for Bad Credit Guaranteed Approval Direct Lenders up to $5000 No Credit Check – Payday Ventures

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, May 22, 2025 (GLOBE NEWSWIRE) — Payday Ventures, a leading provider of online loans, operates platforms offering fast and flexible personal loans for bad credit with guaranteed approval. For millions of Americans with less-than-perfect credit, accessing reliable financing can feel impossible. But in 2025, getting approved is easier than ever thanks to digital lenders that specialize in bad credit loans guaranteed approval.

    Whether you’re facing a medical emergency, car repairs, or simply need extra cash, these trusted platforms provide quick loans for bad credit, emergency loans for bad credit, and installment loans for bad credit with same-day decisions. From auto loans for bad credit to first-time home buyer loans with bad credit and zero down, these solutions are built for real people who need money now—without hard credit checks or long delays.

    Best US Loans for Bad Credit: Summary of Recommendations

    • Heart Paydays – Best for Emergency Loans for Bad Credit with Instant Payouts
    • Low Credit Finance – Top Choice for Bad Credit Personal Loans with Guaranteed Approval
    • Jungle Finance – Best for Quick Online Loans for Bad Credit with No Hard Credit Checks
    • 50k Loans – Great for Large Personal Loans for Bad Credit up to $50,000
    • Green Dollar Loans – Fastest Option for Installment Loans for People with Bad Credit

    Top Factors That Set These Bad Credit Loan Options Apart

    The featured loan providers were chosen based on key factors such as approval speed, loan flexibility, no credit check options, funding turnaround time, and overall customer support. Each platform specializes in loans for people with bad credit, focusing on income and repayment ability rather than credit score, making them ideal for borrowers seeking guaranteed approval in 2025.

    Click Here to Apply for Personal Loans for Bad Credit Now >>

    What Are Bad Credit Loans and How Do They Work?

    Bad credit loans are personal or installment loans designed specifically for people with low credit scores or limited credit history. Unlike traditional loans, these options focus on your current income and repayment ability rather than your FICO score. Whether you’re looking for personal loans with bad credit, online loans for bad credit, or emergency loans for bad credit, many US-based lenders now offer fast approvals without hard credit checks. These loans for bad credit often come with flexible terms, allowing borrowers to manage expenses like car repairs, rent, or medical bills with less stress. In 2025, getting personal loans for bad credit guaranteed approval is easier, faster, and more accessible than ever before.

    Click Here to Apply for Loans for Bad Credit >>

    Types of Loans for Bad Credit You Can Access

    • Personal Loans for Bad Credit – Unsecured loans for bad credit with guaranteed approval and flexible use.
    • Installment Loans for Bad Credit – Fixed monthly payments, ideal for managing large expenses over time.
    • Emergency Loans for Bad Credit – Fast, same-day loans for unexpected financial needs.
    • Car Loans for Bad Credit / Bad Credit Auto Loans – Easy approval auto loans for people with bad credit.
    • Payday Loans for Bad Credit – Short-term small loans for bad credit with fast cash access.
    • Online Loans for Bad Credit – Apply 100% online and get bad credit loans with instant decisions.
    • Personal Loans for Bad Credit Instant Approval – Get approved for bad credit loans in minutes.
    • First-Time Home Buyer Loans with Bad Credit and Zero Down – Home loans for bad credit with no down payment.
    • Hardship Loans for Bad Credit – Designed for borrowers facing financial stress or emergencies.
    • Urgent Loans for Bad Credit – Structured bad credit loans with predictable repayment.

    Tips to Get Personal Loans with Bad Credit Instantly

    Yes, bad credit loans are available online even with low scores. Focus on platforms that assess income, not just credit. Trusted brands like Heart Paydays, Low Credit Finance, and Green Dollar Loans offer bad credit personal loans guaranteed approval $5,000 or more without unnecessary delays.

    Name: Mukesh Bhardwaj
    Email: mukesh@paydayventures.com

    Disclaimer: This announcement contains general information about Payday Ventures loan services and should not be considered financial advice. Loans are available to US residents only.

    The MIL Network –

  • MIL-OSI USA: Cornyn Introduces Bill to Help Americans Save for Their Futures

    US Senate News:

    Source: United States Senator for Texas John Cornyn

    WASHINGTON – U.S. Senator John Cornyn (R-TX) today introduced the Generate Retirement Ownership Through Long-Term Holding (GROWTH) Act, which would help Americans save for their futures and accumulate wealth by deferring capital gains taxes on growth in mutual funds. Congresswoman Beth Van Duyne (TX-24) is the Republican lead on this legislation in the U.S. House of Representatives.

    “Deferring taxes on reinvested mutual fund capital gains distributions until the investor sells their shares is a no-brainer and would help provide parity with other investment options,” said Sen. Cornyn. “This bill would empower hardworking Texans to let their money work longer, build toward personal savings and retirement goals, and create generational wealth.”

    “I am glad to support the bipartisan and bicameral GROWTH Act to ensure working Americans have the freedom to invest as they desire to achieve their financial goals,” said Rep. Van Duyne. “This common-sense bill allows families to embrace American exceptionalism by giving them the freedom to invest in their future and secure their American Dream while working to achieve financial security and generational wealth.”

    Congresswoman Terri Sewell (AL-07) also led the legislation in the House of Representatives.

    Background:

    Under current law, mutual funds distribute realized capital gains to shareholders each year—whether paid in cash or reinvested—and shareholders incur taxes on these distributions even if they are fully reinvested and the investor does not receive them. The Generate Retirement Ownership Through Long-Term Holding (GROWTH) Act would allow investors in mutual funds to be treated the same as those investing in the stock market by only paying taxes when shares are sold. 

    This legislation is supported by the Investment Company Institute (ICI), which represents the asset management industry in service of individual investors. ICI’s members include mutual funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts (UITs) in the U.S. Other supporters include the Chamber of Commerce and Americans for Tax Reform (ATR).

    MIL OSI USA News –