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Category: Finance

  • MIL-OSI: Track Group Reports 2nd Quarter Fiscal 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    NAPERVILLE, Ill., May 14, 2025 (GLOBE NEWSWIRE) — Track Group, Inc. (OTCQB: TRCK), a global leader in offender tracking and monitoring services, today announced financial results for its fiscal quarter ended March 31, 2025 (“Q2 FY25”). In Q2 FY25, the Company posted (i) total revenue of $8.4 Million (“M”), a decrease of approximately 7% over total revenue of $9.0M for the quarter ended March 31, 2024 (“Q2 FY24”); (ii) Q2 FY25 gross profit of $4.1M representing an increase of approximately 4% over Q2 FY24 of $4.0M; (iii) Q2 FY25 operating income of $0.04M compared to Q2 FY24 operating loss of ($0.96M); and (iv) net loss attributable to common shareholders of ($0.5M) in Q2 FY25 compared to ($1.9M) in Q2 FY24.

    FINANCIAL HIGHLIGHTS 

    • Total Q2 FY25 revenue of $8.4M was down 7% compared to Q2 FY24 revenue of $9.0M. Revenue for the six months ended March 31, 2025 (“6M FY25’) of $17.0M was down approximately 5% compared to revenue of $18.0M for the six months ended March 31, 2024 (“6M FY24”). The decrease in monitoring revenues is driven principally by a decrease in people assigned to monitoring for clients in Virginia, and due to our recently sold Chilean subsidiary. This decrease was partially offset by revenue increases for clients in Illinois, Puerto Rico and the Bahamas who experienced increases in the number of people assigned to monitoring.
    • Gross Profit of $4.1M rose by 4% ($0.1M) in Q2 FY25 compared to Q2 FY24. Gross profit for 6M FY25 was $8.5M compared to gross profit of $8.2M for 6M FY24. This improvement stems from factors including reduced monitoring center costs, partly offset by a decrease in revenue. 
    • Operating income in Q2 FY25 of $0.04M was up approximately 105% compared to an operating loss of ($0.96M) in Q2 FY24. Operating income for 6M FY25 of $0.2M was up approximately 115% compared to operating loss of ($1.1M) for 6M FY24. This rise in operating income is primarily due to a decrease in cost of revenue and a decrease in operating expense, partially offset by a decrease in revenue. Operating expenses were down $0.8M in Q2 FY25 compared to Q2 FY24, primarily due to a decrease in general and administrative payroll, benefits, and payroll taxes of $0.5M due to the sale of our Chilean subsidiary on November 1, 2024 and a settlement expense related to a contract dispute of $0.5M in Q2 FY24.
    • Adjusted EBITDA for Q2 FY25 was $1.3M compared to $0.8M for Q2 FY24. Adjusted EBITDA for 6M FY25 was $2.6M compared to Adjusted EBITDA for 6M FY24 of $1.9M primarily due to negative currency exchange rate movements of $0.6M in Q2 FY25 compared to Q2 FY24. Adjusted EBITDA in 6M FY25 as a percentage of revenue increased to 15.1%, compared to 10.3% for 6M FY24.
    • Cash balance of $3.4M at March 31, 2025 declined 4% compared to $3.6M at September 30, 2024.  The modest decrease in cash position was due to increases in inventory purchases and payments to vendors, partially offset by an increase in accrued liabilities.
    • Net loss attributable to shareholders in Q2 FY25 was ($0.5M) compared to ($1.9M) in Q2 FY24, a decrease of $1.4M. Net loss attributable to shareholders in 6M FY25 was ($2.5M), compared to ($1.9M) for 6M FY24, a change principally attributable to negative currency exchange rate movements, partially offset by an increase in operating income.

    “In the quarter ended March 31, 2025, we achieved strong gains in profitability, with both gross profit and operating income showing robust growth and Adjusted EBITDA surpassing Q2 FY24 results,” said Derek Cassell, Track Group’s CEO. “Gross profit rose by 4% year-over-year ($4.1M vs $4.0M in Q2 FY24), marking a clear indication of our operational resilience and focus on delivering higher-value, higher-margin business. Adjusted EBITDA also climbed to $1.3M in Q2 FY25, a 63% increase from $0.8M in Q2 FY24, reflecting our focus on cost management and strategic execution over the last six months.”

    Business Outlook

    Despite previous challenges from supply chain delays, the impact of the Coronavirus, and the phase-out of our 3G-based cellular devices in the U.S., Track Group stands resilient. The demonstrated financial growth evidenced in Q2 FY25 reinforces our confidence in the strategic reinvestment in technology and the implementation of new programs initiated in late FY24. These endeavors position us well for a sustained return to growth throughout FY25. Our outlook for FY25 is as follows: 

      Actual     Outlook
      FY 2023     FY 2024     FY 2025
    Revenue (in millions): $ 34.5 M   $ 36.9 M   $34.5 – 35.5M
                           
    Adjusted EBITDA Margin:   11.1 %     14.6 %    13.5 – 16.5%
                           

    About Track Group, Inc.

    Track Group designs, manufactures, and markets location tracking devices; as well as develops and sells a variety of related software, services, and accessories, networking solutions, and monitoring applications. The Company’s products and services are designed to empower professionals in security, law enforcement, corrections, and rehabilitation organizations worldwide with single-sourced offender management solutions that integrate reliable intervention technologies to support re-socialization and monitoring initiatives.

    The Company currently trades under the ticker symbol “TRCK” on the OTCQB exchange. For more information, visit www.trackgrp.com. 

    Forward-Looking Statements

    Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “if”, “should” and “will” and similar expressions as they relate to Track Group, Inc., and subsidiaries (“Track Group”) are intended to identify such forward-looking statements. These statements are only predictions and reflect Track Group’s current beliefs and expectations with respect to future events and are based on assumptions and subject to risks and uncertainties and subject to change at any time. Track Group may from time-to-time update these publicly announced projections, but it is not obligated to do so. Any projections of future results of operations should not be construed in any manner as a guarantee that such results will in fact occur. These projections are subject to change and could differ materially from final reported results. For a discussion of such risks and uncertainties, see “Risk Factors” in Track Group’s annual report on Form 10-K, its quarterly report on Form 10-Q, and its other reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. New risks emerge from time to time. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.

    Non-GAAP Financial Measures

    This release includes financial measures defined as “non-GAAP financial measures” by the Securities and Exchange Commission including non-GAAP EBITDA. These measures may be different from non- GAAP financial measures used by other companies. The presentation of this financial information, which is not prepared under any comprehensive set of accounting rules or principles, is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with generally accepted accounting principles. Reconciliations of these non-GAAP financial measures are based on the financial figures for the respective period.

    Non-GAAP Adjusted EBITDA excludes items included but not limited to interest, taxes, depreciation, amortization, impairment charges, gains and losses, currency effects, one-time charges or benefits that are not indicative of operations, charges to consolidate, integrate or consider recently acquired businesses, costs of closing facilities, stock based or other non-cash compensation or other stated cash and non-cash charges (the “Adjustments”).

    The Company believes the non-GAAP measures provide useful information to both management and investors when factoring in the Adjustments. Specific disclosure regarding the Company’s financial results, including management’s analysis of results from operations and financial condition, are contained in the Company’s annual report on Form 10-K for the fiscal year ended September 30, 2023, and other reports filed with the Securities and Exchange Commission. Investors are encouraged to carefully read and consider such disclosure and analysis contained in the Company’s Form 10-K and other reports, including the risk factors contained in such Form 10-K.

    James Berg
    Chief Financial Officer
    jim.berg@trackgrp.com 

    TRACK GROUP, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
                   
        (Unaudited)          
        March 31,     September 30,  
        2025     2024  
    Assets                
    Current assets:                
    Cash   $ 3,416,045     $ 3,574,215  
    Accounts receivable, net of allowance for credit losses of $396,667 and $432,904, respectively     5,085,595       4,428,535  
    Prepaid expense and deposits     432,520       638,293  
    Inventory, net of reserves of $88,024 and $82,848, respectively     915,816       582,481  
    Assets held for sale     –       969,481  
    Total current assets     9,849,976       10,193,005  
    Property and equipment, net of accumulated depreciation of $300,052 and $430,003, respectively     392,423       317,206  
    Monitoring equipment, net of accumulated depreciation of $5,295,826 and $5,982,972, respectively     4,367,904       4,598,864  
    Intangible assets, net of accumulated amortization of $20,460,576 and $19,699,966, respectively     13,337,224       13,959,571  
    Goodwill     7,859,645       7,941,190  
    Other assets     1,160,885       660,170  
    Total assets   $ 36,968,057     $ 37,670,006  
                     
    Liabilities and Stockholders’ Equity (Deficit)                
    Current liabilities:                
    Accounts payable   $ 2,398,228     $ 3,082,467  
    Accrued liabilities     3,318,453       2,639,318  
    Liabilities held for sale     –       732,028  
    Total current liabilities     5,716,681       6,453,813  
    Long-term debt, net of current portion     42,680,070       42,639,197  
    Long-term liabilities     631,709       186,407  
    Total liabilities     49,028,460       49,279,417  
                     
                     
                     
    Stockholders’ equity (deficit):                
    Common stock, $0.0001 par value: 30,000,000 shares authorized; 11,863,758 and 11,863,758 shares outstanding, respectively     1,186       1,186  
    Preferred stock, $0.0001 par value: 20,000,000 shares authorized; 0 shares outstanding     –       –  
    Series A Convertible Preferred stock, $0.0001 par value: 1,200,000 shares authorized; 0 shares outstanding     –       –  
    Paid in capital     302,600,546       302,600,546  
    Accumulated deficit     (315,791,294 )     (312,691,811 )
    Accumulated other comprehensive income (loss)     1,129,159       (1,519,332 )
    Total stockholders’ equity (deficit)     (12,060,403 )     (11,609,411 )
    Total liabilities and stockholders’ equity (deficit)   $ 36,968,057     $ 37,670,006  
                     
    TRACK GROUP, INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS)
    (Unaudited)
                 
        Three Months Ended     Six Months Ended  
        March 31,     March 31,     March 31,     March 31,  
        2025     2024     2025     2024  
    Revenue:                                
    Monitoring and other related services   $ 7,867,975     $ 8,758,650     $ 16,309,282     $ 17,433,136  
    Product sales and other     484,345       232,570       711,366       525,057  
    Total revenue     8,352,320       8,991,220       17,020,648       17,958,193  
                                     
    Cost of revenue:                                
    Monitoring, products and other related services     3,515,023       4,230,498       7,023,784       8,204,487  
    Depreciation & amortization included in cost of revenue     723,331       793,887       1,458,556       1,583,351  
    Total cost of revenue     4,238,354       5,024,385       8,482,340       9,787,838  
                                     
    Gross profit     4,113,966       3,966,835       8,538,308       8,170,355  
                                     
    Operating expense:                                
    General & administrative     2,127,145       3,173,866       4,558,263       5,931,753  
    Selling & marketing     964,743       810,441       1,865,932       1,516,972  
    Research & development     750,650       701,183       1,420,040       1,383,646  
    Depreciation & amortization     227,385       236,524       454,938       476,284  
    Loss on sale of subsidiary     –       –       (66,483 )     –  
    Total operating expense     4,069,923       4,922,014       8,365,656       9,308,655  
                                     
    Operating income (loss)     44,043       (955,179 )     172,652       (1,138,300 )
                                     
    Other income (expense):                                
    Interest expense, net     (565,844 )     (428,868 )     (1,134,804 )     (866,791 )
    Currency exchange rate gain (loss)     34,830       (519,933 )     (1,464,432 )     19,013  
    Other income (expense), net     –       (3,443 )     –       (3,443 )
    Total other income (expense)     (531,014 )     (952,244 )     (2,599,236 )     (851,221 )
    Income (loss) before income taxes     (486,971 )     (1,907,423 )     (2,426,584 )     (1,989,521 )
    Income tax expense (benefit)     30,145       (4,348 )     101,381       (86,907 )
    Net income (loss) attributable to common shareholders     (517,116 )     (1,903,075 )     (2,527,965 )     (1,902,614 )
    Release of cumulative translation adjustment for sale of subsidiary     –       –       1,390,913       –  
    Equity adjustment for sale of subsidiary     –       –       571,518       –  
    Foreign currency translation adjustments     (85,709 )     (36,754 )     686,060       (143,456 )
    Comprehensive income (loss)   $ (602,825 )   $ (1,939,829 )   $ 120,526     $ (2,046,070 )
                                     
    Net income per share – basic                                
    Net income per common share   $ (0.04 )   $ (0.16 )   $ (0.21 )   $ (0.17 )
    Weighted average common shares outstanding     11,863,758       11,863,758       11,863,758       11,863,758  
    Net income per share – diluted                                
    Net income per common share   $ (0.04 )   $ (0.16 )   $ (0.21 )   $ (0.17 )
    Weighted average common shares outstanding     11,863,758       11,863,758       11,863,758       11,863,758  
                                     
    TRACK GROUP, INC. AND SUBSIDIARIES
    NON-GAAP ADJUSTED EBITDA MARCH 31 (Unaudited)
    (amounts in thousands, except share and per share data)
                 
        Three Months Ended
    March 31,    		     Six Months Ended
    March 31,    		  
        2025     2024     2025     2024  
    Non-GAAP Adjusted EBITDA                                
    Net Income (loss) attributable to common shareholders   $ (517 )   $ (1,903 )   $ (2,528 )   $ (1,903 )
    Interest expense, net     566       432       1,135       870  
    Depreciation and amortization     951       1,030       1,913       2,060  
    Income taxes (1)     30       (4 )     101       (87 )
    Board compensation and stock-based compensation     75       50       150       103  
    Foreign exchange (gain)/loss     (35 )     520       1,464       (19 )
    Loss on sale of subsidiary     –       –       66       –  
    Other charges, net (2)     249       663       267       826  
    Non-GAAP Adjusted EBITDA   $ 1,319     $ 788     $ 2,568     $ 1,850  
    Non-GAAP Adjusted EBITDA, percent of revenue     15.8 %     8.8 %     15.1 %     10.3 %
    Weighted average common shares outstanding – basic     11,863,758       11,863,758       11,863,758       11,863,758  
    Non-GAAP earnings per share   $ 0.11     $ 0.07     $ 0.22     $ 0.16  
    Weighted average common shares outstanding – diluted     11,863,758       11,863,758       11,863,758       11,863,758  
    Non-GAAP earnings per share   $ 0.11     $ 0.07     $ 0.22     $ 0.16  
    (1 ) Currently, the Company has significant U.S. tax loss carryforwards that may be used to offset future taxable income, subject to IRS limitations. However, the Company is still subject to certain state, commonwealth, and other foreign based taxes.
    (2 ) Other charges include expenses related to the board of directors, severance, a settlement related to a contract dispute, and other Chile monitoring center costs for our recently sold subsidiary.

    The MIL Network –

  • MIL-OSI: The GDL Fund Declares Second Quarter Distribution of $0.12 Per Share

    Source: GlobeNewswire (MIL-OSI)

    RYE, N.Y., May 14, 2025 (GLOBE NEWSWIRE) — The Board of Trustees of The GDL Fund (NYSE:GDL) (the “Fund”) declared a $0.12 per share cash distribution payable on June 23, 2025 to common shareholders of record on June 13, 2025.

    The Board of Trustees will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the financial market environment. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

    The Fund makes annual distributions of its realized net long-term capital gains and quarterly cash distributions of all or a portion of its investment company taxable income to common shareholders. A portion of the distribution may be a return of capital and various factors will affect the level of the Fund’s income, such as its asset mix and use of merger arbitrage strategies. To permit the Fund to maintain more stable distributions, the Fund may distribute more than the entire amount of income earned in a particular period. Because the Fund’s current quarterly distributions are subject to modification by the Board of Trustees at any time and the Fund’s income will fluctuate, there can be no assurance that the Fund will pay distributions at a particular rate or frequency.

    If the Fund does not generate sufficient earnings (dividends and interest income, less expenses, and realized net capital gain) equal to or in excess of the aggregate distributions paid by the Fund in a given year, then the amount distributed in excess of the Fund’s earnings would be deemed a return of capital. Since this would be considered a return of a portion of a shareholder’s original investment, it is generally not taxable and would be treated as a reduction in the shareholder’s cost basis.

    Short-term capital gains, qualified dividend income, investment company taxable income, and return of capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. Long-term capital gains, if any, are distributed in the final distribution of the year. Based on the accounting records of the Fund currently available, each of the distributions paid to common shareholders in 2025 would include approximately 5% from net investment income, 3% from net capital gains and 92% would be deemed a return of capital on a book basis. This does not represent information for tax reporting purposes. The estimated components of each distribution are updated and provided to shareholders of record in a notice accompanying the distribution and are available on our website (www.gabelli.com). The final determination of the sources of all distributions in 2025 will be made after year end and can vary from the quarterly estimates. Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution. All individual shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2025 distributions in early 2026 via Form 1099-DIV.

    Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. For more information regarding the Fund’s distribution policy and other information about the Fund, call:

    Laurissa Martire
    (914) 921-5399

    About The GDL Fund
    The GDL Fund is a diversified, closed-end management investment company with $131 million in total net assets whose investment objective is to achieve absolute returns in various market conditions without excessive risk of capital. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

    NYSE – GDL
    CUSIP – 361570104

    THE GDL FUND
    Investor Relations Contact:
    Laurissa Martire
    (914) 921-5399
    lmartire@gabelli.com

    The MIL Network –

  • MIL-OSI United Kingdom: Plymouth’s outdoor pools get set for summer

    Source: City of Plymouth

    Summer’s finally here and Mount Wise Swimming Pools and Tinside Lido are looking forward to welcoming their first visitors of the season on Saturday 24 May.

    Both pools will be open every day from midday to 6pm during term time and 10am to 6pm on Saturdays, Sundays and during school holidays.

    Councillor Sue Dann, Cabinet Member with responsibility for sport and leisure, said: “With the lovely weather we’re now seeing we know everyone will be really excited to take a dip and enjoy the sunshine with their friends and family.

    “We’re so lucky to have these amazing outdoor pools on our doorsteps, especially in such beautiful waterfront settings and there are loads of fun events and activities planned for both sites.

    “I’m really pleased we’ve been able to keep Mount Wise free of charge again to help families make the most of the summer months. We’re also incredibly excited to see improvements at Tinside nearing completion and look forward to unveiling its transformation very soon.”

    Mount Wise, which features a 25-metre main pool, fun pool and children’s paddling pool and offers fantastic views across the River Tamar, will remain free of charge.

    Entry to the Grade II listed Tinside lido on Plymouth Hoe, overlooking Plymouth’s spectacular seafront, costs £6.30 for Plymouth residents and £10 for non-residents, with concessionary rates for children, people aged 67 and over, anyone in receipt of benefits, NHS blue light staff and armed forces and ex-armed forces personnel. Under-fives go free.

    Season tickets can also be bought for Tinside on the Plymouth Active website, at the Plymouth Life Centre or at Plympton Pool. (Concessionary season tickets must be bought in person.)

    Mount Wise will be hosting free youth night swims from 6pm to 7.30pm every Thursday and Tinside will also be hosting youth nights and Swim Safe sessions over the summer.

    Special ‘early bird’ swims are also making a welcome return at Mount Wise on Wednesday mornings from 6.30am to 8.30am (£4 entry) and at Tinside on Wednesday and Friday mornings from 6.30am to 9am (£6.30 for adults and £5 for children).

    And if that’s not early enough for you, why not celebrate the longest day of the year with a refreshing sunrise dip at Tinside’s Summer Solstice Swim at 4.45am on Saturday 21 June?

    Whether you take to the water or just want to soak up the magical atmosphere you can also start your day with a tasty BBQ breakfast, served up from 7pm. Doors open at 4.30am and entry costs £6.30. Find out more and book your tickets here.

    Visitors to Tinside are reminded that refurbishment works to create the exciting new multi-purpose youth, community and events space, with panoramic views of the National Marine Park, are still ongoing.

    The £4.5 million refurbishment is designed to open up new spaces and is being funded through the Plymouth Sound National Marine Park by grants from the National Lottery Heritage Fund, Youth Investment Fund, UK Government and Plymouth City Council.

    The new ‘coffee pod’ is programmed to open in mid-June, serving ice cream, cakes, paninis, snacks and hot and cold drinks and it is hoped the new sun terrace and seating area will be ready in time for the Summer Solstice Swim.

    Remaining works are expected to be complete by the end of June but full details will be confirmed nearer the time.

    For more information about Mount Wise and Tinside pools visit the Plymouth Active website. All sessions can be booked up to seven days in advance.

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: Secretary-General’s press encounter following meeting with German Chancellor Friedrich Merz

    Source: United Nations secretary general

    Chancellor Merz, thank you for your warm welcome.

    And I look forward to working closely with you and your new Government to build a Germany-UN partnership even stronger in the future, than in the present, knowing that in the present it is already extremely strong.

    Germany is a pillar of multilateralism …

    A strong and generous supporter of the United Nations…

    A voice of peace and a champion of human rights…

    A committed leader in the fight against climate change…

    And an essential partner for peacekeeping, peacebuilding and humanitarian aid — demonstrated not least by your hosting of the UN Peacekeeping Ministerial meeting that was an exceptional success.

    Germany is a leader in the humanitarian response in Lebanon and Syria, and strongly engaged on Sudan, including most recently as co-host of the recent conference in London.

    German diplomacy is particularly active in addressing the two biggest challenges that affect peace in Europe and the Middle East: the situations in Ukraine and Gaza.

    I reiterate my appeal for an immediate and unconditional ceasefire in Ukraine to pave the way for a just peace. A peace based on the UN Charter and international law, namely respecting the territorial integrity of Ukraine.

    In relation to Gaza, I reiterate my call for an immediate and unconditional release of all hostages, unimpeded humanitarian access, and an immediate cessation of hostilities allowing for an irreversible path towards a Two-State solution.

    Beyond peace efforts, I see a number of other key areas where German leadership can make — and is making — a positive difference in the world.

    In the global battle against climate change as we work towards maximum ambition and climate justice at COP30 in Brazil…

    And at the upcoming Financing for Development Conference in Sevilla, where we will push namely for debt relief and reforming the global financial architecture to support developing countries in the follow up of the Pact for the Future.

    And most of all, Germany’s leadership and voice are essential in a world of growing geopolitical divides and mistrust.
     
    This is an important year for multilateralism — the 80th anniversary of the United Nations.

    And we count on Germany to continue standing up for the solidarity and solutions our world needs now.

    Danke schön

    MIL OSI United Nations News –

  • MIL-OSI: Gabelli Global Small and Mid Cap Value Trust Declares Second Quarter Distribution of $0.16 Per Share

    Source: GlobeNewswire (MIL-OSI)

    RYE, N.Y., May 14, 2025 (GLOBE NEWSWIRE) — The Board of Trustees of The Gabelli Global Small and Mid Cap Value Trust (NYSE:GGZ) (the “Fund”) declared a $0.16 per share cash distribution payable on June 23, 2025 to common shareholders of record on June 13, 2025.

    The Fund intends to pay a quarterly distribution of an amount determined each quarter by the Board of Trustees. In addition to the quarterly distributions, and in accordance with the minimum distribution requirements of the Internal Revenue Code for regulated investment companies, the Fund may pay an adjusting distribution in December which includes any additional income and net realized capital gains in excess of the quarterly distributions for that year.

    Each quarter, the Board of Directors reviews the amount of any potential distribution from the income, realized capital gain, or capital available. The Board of Directors will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the current financial market environment. The Fund’s distribution policy is subject to modification by the Board of Directors at any time, and there can be no guarantee that the policy will continue. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

    All or part of the distribution may be treated as long-term capital gain or qualified dividend income (or a combination of both) for individuals, each subject to the maximum federal income tax rate for long term capital gains, which is currently 20% in taxable accounts for individuals (or less depending on an individual’s tax bracket). In addition, certain U.S. shareholders who are individuals, estates or trusts and whose income exceeds certain thresholds will be required to pay a 3.8% Medicare surcharge on their “net investment income”, which includes dividends received from the Fund and capital gains from the sale or other disposition of shares of the Fund.

    If the Fund does not generate sufficient earnings (dividends and interest income, less expenses, and realized net capital gain) equal to or in excess of the aggregate distributions paid by the Fund in a given year, then the amount distributed in excess of the Fund’s earnings would be deemed a return of capital. Since this would be considered a return of a portion of a shareholder’s original investment, it is generally not taxable and would be treated as a reduction in the shareholder’s cost basis.

    Long-term capital gains, qualified dividend income, investment company taxable income, and return of capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. Based on the accounting records of the Fund currently available, each of the distributions paid to common shareholders in 2025 would include approximately 17% from net capital gains and 83% would be deemed a return of capital on a book basis. This does not represent information for tax reporting purposes. The estimated components of each distribution are updated and provided to shareholders of record in a notice accompanying the distribution and are available on our website (www.gabelli.com). The final determination of the sources of all distributions in 2025 will be made after year end and can vary from the quarterly estimates. Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution. All individual shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2025 distributions in early 2026 via Form 1099-DIV.

    Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. For more information regarding the Fund’s distribution policy and other information about the Fund, call:

    Bethany Uhlein
    (914) 921-5546

    About The Gabelli Global Small and Mid Cap Value Trust
    The Gabelli Global Small and Mid Cap Value Trust is a diversified, closed-end management investment company with $136 million in total net assets whose primary investment objective is to achieve long-term capital growth of capital. Under normal market conditions, the Fund will invest at least 80% of its total assets in equity securities (such as common stock and preferred stock) of companies with small or medium sized market capitalizations. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

    NYSE – GGZ
    CUSIP – 36249W104

    THE GABELLI GLOBAL SMALL AND MID CAP VALUE TRUST

    Investor Relations Contact:
    Bethany Uhlein
    (914) 921-5546
    buhlein@gabelli.com

    The MIL Network –

  • MIL-OSI Africa: CORRECTION: Mauritania Moves to Private Power Model, Set to Receive Independent Power Producer (IPP) Bids Within Weeks

    Source: Africa Press Organisation – English (2) – Report:

    PARIS, France, May 14, 2025/APO Group/ —

    Mauritania is accelerating its shift toward a fully privatized power generation model, with bids due in the next two to three weeks for a new independent power plant tied to the Greater Tortue Ahmeyim (GTA) gas project. The country’s Minister of Petroleum and Energy, Mohamed Ould Khaled, made the announcement at the Invest in African Energy 2025 Forum in Paris on Tuesday.

    “All new power generation projects in Mauritania will be private. State-owned companies will no longer be involved in power generation,” said the Minister. He added that two projects currently being developed as IPPs will be fueled by domestic gas and will contribute a combined 550 MW to the national grid over the next couple of years.

    The power sector reform is part of a wider transformation aimed at enabling Mauritania to harness its significant gas and renewable energy resources to power industrialization, expand electricity access and drive inclusive growth.

    “We want to develop large-scale natural gas and renewable energy resources. We want to expand affordable, clean power access to our people and industries and power inclusive economic growth, especially to unleash our mining potential.” 

    Mauritania currently has 57% energy access and aims to achieve full national coverage by 2030, according to the Minister. Gas from the GTA project – shared with Senegal – will play a central role in this transition, supplying enough fuel for a 250 MW combined-cycle power plant in each country during the project’s first phase, he said.

    The Minister described Mauritania as uniquely positioned for energy leadership on the continent and beyond, citing its combination of gas, solar, wind and strategic proximity to Europe. He also highlighted Mauritania’s position as the African leader in green hydrogen project development, backed by newly modernized regulatory frameworks.

    “Mauritania holds the largest pipeline of green hydrogen projects in Africa, which are designed not only to export molecules, but to catalyze industrialization in Mauritania and decarbonize hard-to-abate sectors. We have the potential to produce 12 million tons of green hydrogen production per year, with wind speeds of 10 meters per second and amazing solar.”

    “To support this transformation, we have completely modernized our framework,” the Minister continued. “We have opened up the electricity sector to private investments, introduced a new local content policy, and implemented new PPP and investment codes. Additionally, we have launched Africa’s first green hydrogen code, which provides clarity and long-term stability for investors.”

    Looking ahead, Mauritania’s integrated energy vision includes the expanded development of the BirAllah gas field – another major deepwater discovery – along with subsequent phases of the GTA project to reach 10 million tons of LNG per year, cross-border electricity trade with neighboring countries and further development of its mining sector.

    MIL OSI Africa –

  • MIL-OSI USA: Cantwell Statement on Boeing / Qatar Airways Deal

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    05.14.25
    Cantwell Statement on Boeing / Qatar Airways Deal
    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Finance Committee, released this statement regarding today’s announcement of a large sale of Boeing aircraft to Qatar Airways:
    “It’s a big win for Boeing’s energy-efficient 787 and 777 planes and a big win for Puget Sound and U.S. supply chain jobs. It’s also good to see U.S. manufacturers winning in the lucrative widebody airplane market. It’s also a reminder why it’s time to sell to meet big demand instead of pursuing trade disruptions.”

    MIL OSI USA News –

  • MIL-OSI USA: Cantwell, Colleagues Condemn Trump’s Willingness to Accept Lavish $400M Jet From Qatar

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    05.14.25
    Cantwell, Colleagues Condemn Trump’s Willingness to Accept Lavish $400M Jet From Qatar
    Amid administration’s claims of rooting out fraud and mismanagement, Trump indicates intent to accept 747 jet as a gift
    WASHINGTON, D.C. – Yesterday, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Finance Committee, joined 26 of her colleagues in formally condemning President Donald Trump’s willingness to accept a $400 million 747 jet from Qatar – to be used as a new Air Force One plane in the meantime, and then gifted to the Trump Presidential Library after he leaves office.
    “The Senate condemns violations of the Foreign Emoluments Clause of the United States Constitution, including the acceptance of substantial gifts from foreign governments that would replace symbols of the United States without the consent of Congress,” the resolution states.
    The resolution was led by U.S. Senators Brian Schatz (D-HI) and Chris Coons (D-DE) and was cosponsored by Democratic Minority Leader Chuck Schumer (D-NY) and U.S. Senators Cory Booker (D-NJ), Chris Murphy (D-CT), Jon Ossoff (D-GA), Bernie Sanders (I-VT), Patty Murray (D-WA), Ron Wyden (D-OR), Alex Padilla (D-CA), Jacky Rosen (D-NV), Mark Warner (D-VA), Chris Van Hollen (D-MD), Jeanne Shaheen (D-NH), Mazie K. Hirono (D-HI), Dick Durbin (D-IL), Michael Bennet (D-CO), Gary Peters (D-MI), Lisa Blunt Rochester (D-DE), Elissa Slotkin (D-MI), Angus King (I-ME), Amy Klobuchar (D-MN), Tammy Duckworth (D-IL), Jeff Merkley (D-OR), Angela Alsobrooks (D-MD), and Andy Kim (D-NJ).
    The full text of the resolution is HERE and below.
    Condemning violations of the Foreign Emoluments Clause of the United States Constitution, including the acceptance of substantial gifts from foreign governments that would replace symbols of the United States without the consent of Congress
    Whereas the aircraft commonly referred to as Air Force One is a symbol of the United States;
    Whereas Air Force One is one of the most recognizable symbols of the Office of the President of the United States;
    Whereas Air Force One is equipped with some of the most sensitive technologies designed to transmit some of the most highly classified national security information of the nation;
    Whereas the acceptance of presidential aircraft from a foreign government constitutes a substantial gift;
    Whereas the acceptance of presidential aircraft from a foreign government poses counter-intelligence and other national security concerns;
    Whereas the acceptance of a substantial gift from a foreign government could unduly influence the foreign policies of the United States;
    Whereas the acceptance of presidential aircraft from a foreign government would establish a concerning precedent for the acceptance of substantial gifts from foreign governments without the consent of Congress;
    Whereas the Foreign Emoluments Clause of the United States Constitution states that no present, emolument, office, or title, of any kind, may be accepted by the President of the United States from a King, Prince, or foreign State without the consent of Congress;
    Whereas the President of the United States has a constitutional and statutory obligation to uphold the public trust;
    Whereas the violation of the Foreign Emoluments Clause of the United States Constitution undermines public trust and the integrity of public office in the United States.
    Now, therefore be it resolved, that the Senate condemns violations of the Foreign Emoluments Clause of the United States Constitution, including the acceptance of substantial gifts from foreign governments that would replace symbols of the United States without the consent of Congress.

    MIL OSI USA News –

  • MIL-OSI USA: AG Labrador Announces 12 Arrests in Statewide Crackdown on Child Exploitation

    Source: US State of Idaho

    Home Newsroom AG Labrador Announces 12 Arrests in Statewide Crackdown on Child Exploitation

    BOISE — Attorney General Raúl Labrador announced the completion of Operation Unhinged, a statewide initiative led by the Idaho Internet Crimes Against Children (ICAC) Task Force in April 2025. The operation resulted in 12 arrests for internet crimes against children, doubling the 6 arrests made last April. Additional arrests may follow pending forensic reviews of seized devices.
    Operation Unhinged involved the execution of 17 residential search warrants. Three cases were accepted for federal prosecution and the rest will be prosecuted in state court.
    “Because of the structural changes we’ve made within the Attorney General’s Office—along with the dedication of our investigators and strong partnerships with law enforcement across the state—the ICAC Task Force is achieving results like never before,” stated Attorney General Labrador. “We are identifying more offenders, rescuing more victims, and sending a clear message: anyone who targets children in Idaho online will be found, and our office will use every tool available to prosecute them to the fullest extent of the law.”
    The following individuals were arrested during Operation Unhinged: 

    Joseph Bingham, 25, Ada County 
    Alexander Buttle, 30, Ada County
    William Strength, 43, Bannock County 
    Zachary Gilbert, 39, Bannock County 
    Connor Robinson, 28, Bonneville County
    Luke Hughes, 38, Bonneville County
    Alfred Brown, 61, Canyon County  
    Hector Martinez- Cabrerra, 34, Jerome County
    Adam Tyler,34, Kootenai County
    Shandon Singer, 33, Kootenai County  
    Dustin Angele, 21, Kootenai County 
    Jake Baptista, 25, Madison County

    “We’re seeing incredible results with the number of arrests we are making across the state,” stated Nicholas Edwards, Chief Investigator in the Attorney General’s Office. “We are going to keep arresting those who commit these crimes, but we also need to focus on outreach, training, and education to protect Idaho’s children.”
    Operation Unhinged resulted in a spike in public presentations and education. The Task Force conducted 53 community outreach events with approximately 1,390 attendees. The Task Force also had an opportunity to showcase its newest weapon in the fight against online sexual exploitation: Badger the ESD K9.
    “It’s a privilege to serve as the first K9 officer in the Attorney General’s Office, and Badger has already proven himself an incredible asset to the Task Force,” stated Investigator Lauren Lane. “Badger is a triple threat: he helps us find electronic devices on search warrants, the public—especially kids—love seeing him at our presentations, and he supports the mental wellness of our officers and other staff who have to view terrible images and videos depicting the sexual abuse of children.”
    Badger attended 7 public presentations and helped investigators find electronic storage devices on 8 search warrants during April’s Operation Unhinged. 
    The Task Force also trained 106 law enforcement professionals in April and will continue to direct substantial resources to training law enforcement throughout the state.
    Operation Unhinged was Idaho’s contribution to the national Operation Safe Online Summer, a joint effort of all 61 ICAC Task Forces throughout the country to arrest those engaged in the online sexual exploitation of children.
    The operation was supported by a coalition of agencies, including the Idaho State Police, Boise Police Department, Coeur d’Alene Police Department, Idaho Falls Police Department, Meridian Police Department, Post Falls Police Department, Pocatello Police Department, Nampa Police Department, Chubbuck Police Department, Rexburg Police Department, Bonners Ferry Police Department, Moscow Police Department, Fruitland Police Department, Spirit Lake Police Department, Homedale Police Department, Twin Falls Police Department, Sun Valley Police Department, Jerome Police Department, Wilder Police Department, Middleton Police Department, Rupert Police Department, Heyburn Police Department, Bonneville County Sheriff’s Office, Canyon County Sheriff’s Office, Ada County Sheriff’s Office, Minidoka County Sheriff’s Office, Benewah County Sheriff’s Office, Cassia County Sheriff’s Office, Clearwater County Sheriff’s Office, Canyon County Prosecutor’s Office, Kootenai County Prosecutor’s Office, Idaho Probation and Parole, Federal Bureau of Investigation (FBI), and Homeland Security Investigations (HSI).
    The Idaho ICAC Task Force urges the public to report suspected online exploitation to local law enforcement, the ICAC Unit at 208-947-8700, or the National Center for Missing and Exploited Children at 1-800-843-5678 or www.cybertipline.com. For more information or to access resources, visit ICACIdaho.org.
    To learn more about ESD K9 Badger or to request a demonstration, visit the Idaho ICAC Task Force’s website: https://www.icacidaho.org/esd-k9-badger/. 
    About the Idaho ICAC Task Force: The Idaho ICAC Task Force, led by the Idaho Attorney General’s Office, is a coalition of federal, state, and local law enforcement agencies dedicated to investigating and prosecuting internet crimes against children while promoting community education to prevent exploitation.
    The charges listed above are merely accusations and the defendants are presumed innocent until and unless proven guilty.

    MIL OSI USA News –

  • MIL-OSI USA: Florida Man Pleads Guilty to Conspiracy to Defraud the United States

    Source: US State of California

    Defendant’s Scheme Caused $3M Loss to the U.S. Treasury

    Last week, a Florida man pleaded guilty before Magistrate Judge David A. Baker for the Middle District of Florida to conspiring to defraud the United States by filing false tax returns for clients. The plea must be accepted by a U.S. district court judge.

    The following is according to court documents and statements made in court: Diandre Mentor, of Miami, worked for a tax return preparation company between January 2017 and 2019 named Neighborhood Advance Tax (NAT). Mentor and his co-conspirators operated a dozen offices throughout Florida that fraudulently inflated client tax refunds by fabricated deductions on their returns. Mentor and his co-conspirators also held periodic training sessions at which they taught other NAT employees how to prepare fraudulent tax returns.

    In 2020, Mentor and his co-conspirators started their own tax return preparation business named Smart Tax & Finance that eventually expanded to 12 franchise locations throughout South and Central Florida. As with Neighborhood Advance Tax, Mentor and his co-conspirators prepared false tax returns for clients, including by fabricating deductions. As before, Mentor and his co-conspirators also taught franchise owners and employees how to prepare false returns for clients.

    In total, Mentor caused a tax loss to the IRS of $3,090,077.

    Several of Mentor’s co-conspirators previously pleaded guilty. Abryle Y De La Cruz and Emmanual Almonor pleaded guilty to conspiring to defraud the United States. Adon Hemley pleaded guilty to conspiring to defraud the United States and to aiding the preparation and filing of false returns. Isaiah Hayes pleaded guilty to aiding the preparation and filing of false returns. The two remaining co-conspirators, Franklin Carter Jr. and Jonathan Carrillo, are scheduled to go to trial on June 2.

    Mentor will be sentenced at a later date. He faces a maximum penalty of five years in prison as well as 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 and U.S. Attorney Gregory W. Kehoe for the Middle District of Florida made the announcement.

    IRS Criminal Investigation is investigating the case.

    Trial Attorney Michael L. Jones of the Tax Division and Assistant U.S. Attorney Megan Testerman for the Middle District of Florida are prosecuting the case.

    MIL OSI USA News –

  • MIL-OSI Security: Florida Man Pleads Guilty to Conspiracy to Defraud the United States

    Source: United States Attorneys General 2

    Defendant’s Scheme Caused $3M Loss to the U.S. Treasury

    Last week, a Florida man pleaded guilty before Magistrate Judge David A. Baker for the Middle District of Florida to conspiring to defraud the United States by filing false tax returns for clients. The plea must be accepted by a U.S. district court judge.

    The following is according to court documents and statements made in court: Diandre Mentor, of Miami, worked for a tax return preparation company between January 2017 and 2019 named Neighborhood Advance Tax (NAT). Mentor and his co-conspirators operated a dozen offices throughout Florida that fraudulently inflated client tax refunds by fabricated deductions on their returns. Mentor and his co-conspirators also held periodic training sessions at which they taught other NAT employees how to prepare fraudulent tax returns.

    In 2020, Mentor and his co-conspirators started their own tax return preparation business named Smart Tax & Finance that eventually expanded to 12 franchise locations throughout South and Central Florida. As with Neighborhood Advance Tax, Mentor and his co-conspirators prepared false tax returns for clients, including by fabricating deductions. As before, Mentor and his co-conspirators also taught franchise owners and employees how to prepare false returns for clients.

    In total, Mentor caused a tax loss to the IRS of $3,090,077.

    Several of Mentor’s co-conspirators previously pleaded guilty. Abryle Y De La Cruz and Emmanual Almonor pleaded guilty to conspiring to defraud the United States. Adon Hemley pleaded guilty to conspiring to defraud the United States and to aiding the preparation and filing of false returns. Isaiah Hayes pleaded guilty to aiding the preparation and filing of false returns. The two remaining co-conspirators, Franklin Carter Jr. and Jonathan Carrillo, are scheduled to go to trial on June 2.

    Mentor will be sentenced at a later date. He faces a maximum penalty of five years in prison as well as 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 and U.S. Attorney Gregory W. Kehoe for the Middle District of Florida made the announcement.

    IRS Criminal Investigation is investigating the case.

    Trial Attorney Michael L. Jones of the Tax Division and Assistant U.S. Attorney Megan Testerman for the Middle District of Florida are prosecuting the case.

    MIL Security OSI –

  • MIL-OSI: TMD Energy Limited Reports 2024 Full-Year Results

    Source: GlobeNewswire (MIL-OSI)

    Kuala Lumpur, Malaysia, May 14, 2025 (GLOBE NEWSWIRE) — TMD Energy Limited (NYSE: TMDE) (the “Company” or “TMDEL”), together with its subsidiaries (the “Group” or “TMDEL Group”) is a Malaysia and Singapore based service provider engaged in integrated bunkering services segment which involves ship-to-ship transfer of marine fuels, ship management services and vessel chartering services, today reported its financial results for the fiscal year ended December 31, 2024.

    Fiscal Year 2024 Financial Results Highlights

    • Group Revenue increased by 8.8% to $688.6 million in FY2024 from $633.1 million in FY2023.  Notably, revenue from our Bunkering Services Segment rose by $55.5 million.
    • Despite revenue grew by 8.8%, gross profit surged 32.7% to $16.0 million, with gross margin improving to 2.3% in FY2024 from 1.9% in FY2023.
    • Income from operations increased substantially by more than 130% to $6.0 million in FY2024 from $2.6 million in FY2023.
    • Net income remained stable at $1.9 million in FY2024, compared to $2.0 million for FY2023.

    Dato’ Sri Kam Choy Ho, Director and Chief Executive Officer of the Company commented, “In FY2024, the Company experienced sustainable revenue growth, primarily driven by the success of our Bunkering Services Segment.  Revenue notably increased by 8.8% in FY2024 to over $688 million, while net income remained stable at about $1.9 million, compared to $2.0 million a year earlier.”

    “The Bunkering Services Segment accounted for most of our revenue and net income, which benefited from improved operational efficiency and an expanding customer base. The redeployment of a vessel from vessel chartering services to the bunkering segment further enhanced our bunkering capacities, allowing us to better meet our client growing needs.”

    “Looking ahead, we recognize the importance of maintaining this momentum. Our focus will remain on optimizing balance sheet by enhancing our operational efficiencies and exploring new customer opportunities in the bunkering sector.  With our existing internal team of ship managers who are qualified professional mariners, we aim to continue growing our ship management revenue by targeting our existing bunkering client and external clients.  We’ll also maintain competitive pricing via our supplier leverage and transparent practices as we stay committed to leveraging our strengths to drive sustainable growth and deliver value to our stakeholders.”

    Financial Performance Overview

    Our Group reported an overall revenue of $688.6 million for FY2024, an increase of 8.8%, or equivalent to $55.5 million from $633.1 million in FY2023 due to rise in contribution from the Bunkering Services Segment.  This segment which contributed more than 99% of the Group’s revenue had enjoyed a 6.0% increase in the volume of oil cargo bunkered as our Group expanded its customer base.  Meanwhile, the Ship Management Segment had contributed the remaining $0.4 million of the Group’s revenue.

    We recorded an overall increase of 32.7% in our gross profit, or equivalent to $3.9 million, to $16.0 million for FY2024 from $12.1 million in FY2023.  As we strategically focus on penetrating new markets and expanding our customer base, we had managed to improve our gross profit margin from 1.91% in FY2023 to 2.33% in FY2024.

    General and administrative expenses had increased by $0.1 million in FY2024 to $5.2 million from $5.1 million as we participated in environmental, social and governance activities as part of our commitment to a sustainable green environment and incurring additional travelling expenses for our business expansion.

    Depreciation had increased by $0.5 million from $4.3 million in FY2023 to $4.8 million in FY2024 as we continued to maintain and dry-dock our vessels periodically to ensure their sea worthiness and condition when carrying out a safe and efficient bunkering operation.

    Interest expense had increased by $2.4 million to $4.6 million in FY2024, up from $2.2 million in FY2023 as higher volume of trade financing facilities were utilized to meet the increase in volume of oil cargo bunkered.

    Overall, net income remained stable at $1.9 million in FY2024, compared to $2.0 million for FY2023.

    About TMD Energy Limited

    TMD Energy Limited and its subsidiaries are principally involved in marine fuel bunkering services specializing in the supply and marketing of marine gas oil and marine fuel oil of which include high sulfur fuel oil, low sulfur fuel oil and very low sulfur fuel oil, to ships and vessels at sea. TMDEL Group is also involved in the provision of ship management services for in-house and external vessels, as well as vessels chartering. As of today, TMDEL Group operates in 19 ports across Malaysia with a fleet of 15 bunkering vessels. 

    For more information about our Company and its business activities, please visit our website at: www.tmdel.com.

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements, including but not limited to, the Company’s Offering.  These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, result of operations, business strategy and financial needs.  Investors can identify these forward-looking statements by words or phrases such as “may”, “could”, “will”, “should”, “would”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “project” or “continue” or the negative of these terms or other comparable terminology.  The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.  Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s financial results filings with the SEC.

    For investor and media inquiries, please contact:

    TMD ENERGY LIMITED
    e-Mail : corporate@tmdel.com

    WFS INVESTOR RELATIONS
    e-Mail : services@wealthfsllc.com

    The MIL Network –

  • MIL-OSI: Ellsworth Growth and Income Fund Ltd. (NYSE: ECF) Increases Quarterly Distribution 23% to $0.16 Per Share From $0.13 Per Share

    Source: GlobeNewswire (MIL-OSI)

    RYE, N.Y., May 14, 2025 (GLOBE NEWSWIRE) — The Board of Trustees of Ellsworth Growth and Income Fund Ltd. (the “Fund”) declared a $0.16 per share cash distribution payable on June 23, 2025 to common shareholders of record on June 13, 2025. The $0.16 quarterly distribution is a 23% increase from $0.13 per share, bringing the annual distribution rate to $0.64 from $0.52 per share. The increase follows on the strength of the Fund’s market total return of 27% in 2024.

    The Fund intends to pay the greater of either an annual distribution of 5% of the Fund’s trailing 12-month average month-end market prices or an amount that meets the minimum distribution requirement of the Internal Revenue Code for regulated investment companies.

    Each quarter, the Board of Trustees reviews the amount of any potential distribution from the income, realized capital gain, or capital available. The Board of Trustees will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the financial market environment. If necessary, the Fund pays an adjusting distribution in December, which includes any additional income and net realized capital gains in excess of the quarterly distributions. The Fund’s distribution policy is subject to modification or termination by the Board of Trustees at any time, and there can be no guarantee that the policy will continue. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

    All or part of the distribution may be treated as long-term capital gain or qualified dividend income (or a combination of both) for individuals, each subject to the maximum federal income tax rate for long term capital gains, which is currently 20% in taxable accounts for individuals (or less depending on an individual’s tax bracket). In addition, certain U.S. shareholders who are individuals, estates or trusts and with income that exceeds certain thresholds will be required to pay a 3.8% Medicare surcharge on their “net investment income”, which includes dividends received from the Fund and capital gains from the sale or other disposition of shares of the Fund.

    If the Fund does not generate earnings (dividends and interest income, less expenses, and realized net capital gain) equal to or in excess of the aggregate distributions paid by the Fund in a given year, then the amount distributed in excess of the Fund’s earnings would be deemed a return of capital. Since this would be considered a return of a portion of a shareholder’s original investment, it is generally not taxable and would be treated as a reduction in the shareholder’s cost basis.

    Long-term capital gains, qualified dividend income, investment company taxable income and return of capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. Based on the accounting records of the Fund currently available, each of the distributions paid in 2025 to common shareholders with respect to the Fund’s fiscal year ending September 30, 2025 would include approximately 19% from net investment income and 81% from net capital gains on a book basis. This information does not represent information for tax reporting purposes. The estimated components of each distribution are updated and provided to shareholders of record in a notice accompanying the distribution and are available on our website. The final determination of the sources of all distributions in 2025 will be made after year end and can vary from the quarterly estimates. Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution. All individual shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2025 distributions in early 2026 via Form 1099-DIV.

    Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. For more information regarding the Fund’s distribution policy and other information about the Fund, call:

    Bethany Uhlein
    (914) 921-5546

    About Ellsworth Growth and Income Fund
    Ellsworth Growth and Income Fund Ltd. is a diversified, closed-end management investment company with $186 million in total net assets. ECF invests primarily in convertible securities and common stock with the objectives of providing income and the potential for capital appreciation, objectives the Fund considers to be relatively equal over the long-term due to the nature of the securities in which it invests. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

    NYSE American: ECF
    CUSIP – 289074106

    ELLSWORTH GROWTH AND INCOME FUND LTD.
    Investor Relations Contact:
    Bethany Uhlein
    914.921.5546
    buhlein@gabelli.com

    The MIL Network –

  • MIL-OSI: Parsa Launches First Exchange for Range Perpetuals: A New Way to Trade Onchain Volatility

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, May 14, 2025 (GLOBE NEWSWIRE) — Perpetual futures have been the go-to trading instrument in crypto for years. They’re efficient, familiar, and easy to use. But they only let traders take one kind of position: up or down. Options offer more flexibility, but high costs and complexity have hindered their adoption onchain.

    Parsa is introducing Range Perpetuals, a derivative designed around trading price ranges instead of just price direction. The protocol is now live on mainnet, launching with its first market — SOL Daily.

    Range Perps lets traders choose a specific price band, like $145 to $150, and earn depending on the precision of the price prediction. This structure opens up strategies that aren’t possible with traditional perps; traders can now benefit from sideways markets, build positions around volatility, or take views on how duration the price of the underlying asset will stay within a zone. The mechanics are simple, but the strategies can be as nuanced as traders want them to be.

    Parsa is the first exchange built specifically for this kind of trading. It uses a tick-based system where each range has its own price, and all trades settle through the protocol itself without the need for traditional liquidity providers. The trading interface is straightforward and updates in real time, showing clear yield and PnL for each position. More assets and shorter or longer timeframes will roll out soon.

    “Perps changed the game for DeFi trading, but they don’t capture everything,” said Niteesh Settypalli, cofounder. “Range Perps let you trade how the market behaves, not just up or down.”

    In traditional finance, traders have long used volatility-focused products to express more complex views on the market with U.S. options markets alone clearing over 12 billion contracts in 2024, representing trillions in notional exposure. Range Perps bring that concept onchain in a way that’s simple to use and built for crypto.

    Parsa is now live at parsa.finance, with more updates coming soon.

    About Parsa

    Parsa is the first decentralized exchange for Range Perpetuals, a new class of onchain derivatives that allow traders to earn funding yield within defined price bands. Founded by a team of DeFi-native builders and researchers, Parsa makes it possible to trade volatility, time, and price behavior through a simple, composable product built for the next generation of crypto markets.

    Contact:
    Niteesh Settypalli
    niteesh@parsalabs.com

    Disclaimer: This is a paid post and is provided by Parsa. 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. We do not guarantee any claims, statements, or promises made in this article. 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. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. 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. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

    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 assume no responsibility for any inaccuracies, errors, or omissions. 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.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/98ff3c55-80ca-4a94-a077-baa35186d233

    The MIL Network –

  • MIL-OSI USA: Oregon Delegation: Seven Airports In State Earn More Than $22 Million in Federal Grants

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)
    May 14, 2025
    Airports in Portland, Hillsboro, Bend, Eugene, Corvallis, Burns and Joseph secure infrastructure investments
    Washington, D.C. – Oregon lawmakers today announced that seven airports in the Portland metro area, the Willamette Valley, Central Oregon and Eastern Oregon have secured about $22.7 million combined in federal grants for infrastructure improvements to taxiways, drainage, snow removal equipment and more.
    “These federal investments to modernize and improve airports large and small throughout our state benefit Oregonians relying on these facilities for their communities’ economic health and for everybody’s safety during wildfires and other emergencies,” Wyden said. “I’m gratified these resources are heading to Oregon, and I’ll keep battling to provide similar funds for airports all across our state.”
    “Oregon’s regional airports serve as vital hubs for our communities, including supporting local businesses and providing essential lifelines during natural disasters,” Merkley said. “This federal funding will allow several Oregon regional airports to tackle important projects like expanding taxiways, construction projects, and new equipment. I’ll continue to fight to ensure Oregon has the resources for safe and efficient travels for the folks who rely on Oregon’s airports.” 
    “I’m pleased to see that airports in NW Oregon and across the state are receiving federal investments to improve the reliability of our transportation system,” said Rep. Bonamici. “Because of these modernization projects, Oregonians and anyone traveling to our beautiful state for business or pleasure will be safer. I will continue to advocate for other important transportation and infrastructure projects that will help Oregonians and the Oregon economy thrive.”
    “Airports are vital infrastructure for our communities—supporting local economies, emergency response, and everyday travel for Oregonians,” said Rep. Hoyle. “I’m proud to see federal investments coming to Eugene and Corvallis to improve safety, modernize facilities, and prepare these airports for future growth. These upgrades will make a real difference for our region, and I’ll keep fighting for resources that strengthen our transportation and infrastructure.”
    “I’m glad to see these federal investments coming to airports across Oregon,” said Rep. Salinas. “Modernizing and improving Oregon’s airport infrastructure is critical to the safety and economic growth of communities both large and small. I’ll keep fighting to deliver the resources that Oregonians need and deserve.”
    “It’s important to me that as people come in and out of our beautiful state that we give them the best possible experience,” said Rep. Bynum. “This funding provides the resources to do just that, improving safety and reliability and helping Oregon airports modernize and grow. I was ecstatic to see this announcement, and I’ll always fight for projects that improve Oregonians’ quality of life.”
    “Investing in our airports means investing in the safety, connectivity, and economic strength of our communities,” said Rep. Dexter. “I’m thrilled that more than $15 million is headed to PDX. This funding—fueled by the Biden Administration’s historic infrastructure investments—is a clear example of what it looks like when the federal government shows up for local communities.” 
    The $22.7 million in airport improvement grants from the Federal Aviation Administration will be distributed as follows:
    $15.22 million to the Port of Portland for Portland International Airport to rebuild 2,700 feet of the existing paved taxiway A pavement that’s reached the end of its useful life.
    $3.14 million to the Port of Portland for Hillsboro Airport to build a new 1,300-foot taxiway K to reduce delays and accommodate more aircraft operations.
    $2.14 million to Bend Municipal Airport to rehabilitate 12,000 feet of the existing southwest, northwest, and west taxi lanes pavement to extend their useful lives.
    $1.66 million for Eugene’s Mahlon Sweet Airport to build new airfield drainage for wetland mitigation to bring the airport into conformity with current standards.
    $261,938 for Corvallis Municipal Airport to build a new 1,100-foot taxi lane to provide airfield access to a non-exclusive hangar development area to bring the airport into conformity with current standards.
    $215,000 for Burns Municipal Airport to acquire snow removal equipment.
    $76,000 to Joseph State Airport to reseal 5,210 feet of existing Runway 15/33 pavement and joints to extend its useful life. This project reseals 6,990 feet of the existing Taxiway A pavement and joints to extend its useful life.
    “Reconstructing and adding taxiways at PDX and Hillsboro Airport is vital to maintaining the transportation system that our region relies on,” said Curtis Robinhold, Executive Director of the Port of Portland. “We appreciate the continued support of Senators Wyden and Merkley on projects that help to ensure safe and efficient operations at our airports.”
    “Funding for this important airport capital improvement project will support asphalt patching, crack sealing and repair, surface sealing, and new painted striping on paved surfaces at the Bend Municipal Airport,” said Airport Manager Tracy Williams.
    “On behalf of the City of Burns and the Burns Municipal Airport, we sincerely appreciate the recent grant awarded by the Federal Aviation Administration for the acquisition of essential snow removal equipment,” said City Manager Judy Erwin. “This funding will significantly enhance our operational capabilities during the winter season, ensuring safer and more reliable service for all airport users. The support from the FAA continues to be instrumental in maintaining and improving the safety and efficiency of our airport infrastructure. This equipment will allow us to better serve general aviation, emergency services, and regional operations, especially during severe weather conditions.

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: 24 pacts exchanged in Kuwait

    Source: Hong Kong Information Services

    Chief Executive John Lee continued his visit to Kuwait today by meeting representatives of the Kuwait Direct Investment Promotion Authority, exchanging views with local political and business leaders, and witnessing the reaching of multiple pacts between government departments, enterprises and organisations of Hong Kong, the Mainland and Kuwait.

    In the morning, Mr Lee met Kuwait Direct Investment Promotion Authority Director General Meshaal Jaber Al-Ahmad Al-Sabah to learn about Kuwait’s strategies and achievements in attracting business and investment.

    Noting that Kuwait was Hong Kong’s sixth-largest trading partner in the Middle East last year, Mr Lee said there is significant room for development in trade and business between the two places. He also stressed that Hong Kong will continue to serve as a bridge to assist enterprises in going global and attracting external investment, welcoming Kuwaiti enterprises to leverage the city’s financing support and professional services to explore international markets.

    Afterwards, the Chief Executive attended a business luncheon where he delivered a speech to near 300 local business leaders to promote Hong Kong’s business advantages and development opportunities. Moreover, government departments, enterprises and organisations from Hong Kong, the Mainland and Kuwait exchanged and announced 24 memoranda of understanding and co-operation agreements, covering areas such as economy and trade, investment, financial services, technology, legal co-operation, cargo clearance and flow, aviation, and post-secondary education.

    Mr Lee highlighted that merchandise trade between Hong Kong and the Cooperation Council for the Arab States of the Gulf reached nearly US$20 billion last year, an increase of over 53% in the past four years, while Hong Kong’s merchandise trade with Kuwait last year amounted to US$200 million, up more than 20% from the previous year.

    Hong Kong, an international financial centre as well as the world’s largest offshore renminbi business hub, will give full play to its role as a “super connector” and “super value-adder” to deepen international exchanges and co-operation, Mr Lee pointed out, adding that he believes the ties between Hong Kong and Kuwait will continue to flourish.

    In the afternoon, Mr Lee visited Zain Group a major mobile telecommunications company, to learn about its business in innovative technologies and digital communications, and exchanged views with company representatives on topics such as drones, artificial intelligence and smart city development. He remarked that Hong Kong is actively developing into an international innovation and technology centre, and he welcomes the company to invest and pursue co-operation opportunities in Hong Kong.

    The Chief Executive also hosted a dinner for members of the business delegation comprising representatives from Hong Kong and Mainland enterprises to thank them for their participation in the programme of the past four days, and for working together to explore co-operation opportunities for Hong Kong and the Mainland in the Middle East.

    He will return to Hong Kong tomorrow.

    MIL OSI Asia Pacific News –

  • MIL-OSI Security: Deep Brook — Deep Brook man facing child pornography charges

    Source: Royal Canadian Mounted Police

    The RCMP’s Provincial Internet Child Exploitation (ICE) Unit has charged a Deep Brook man for child pornography offences.

    On April 24, the RCMP’s ICE Unit, with assistance from Annapolis District RCMP, executed a search warrant at a home on Hwy. 1 in Deep Brook. Electronic devices, including laptops, tablets and a smartphone were seized and later forensically examined.

    Investigators were directed to the residence after an electronic service provider notified law enforcement that child pornography was uploaded to their service.

    As a result of the search and subsequent investigation, Miles Graham, 59, was arrested on May 6. He has been charged with Possession of Child Pornography, Transmitting Child Pornography, and Accessing Child Pornography.

    Graham was released on conditions and is scheduled to appear in Annapolis Royal Provincial Court on July 14.

    In Nova Scotia, it’s mandatory for citizens to report suspected child pornography; anyone who comes across child pornography material or recordings must report it to the police. Failure to report could result in penalties similar to those for failure to report child abuse under the Child and Family Services Act. Be a voice for children who are victims of sexual exploitation by reporting suspected offences to your local police or to Canada’s national tip line: www.cybertip.ca.

    MIL Security OSI –

  • MIL-OSI Canada: Government of Saskatchewan Prepares for Possible Canada Post Strike

    Source: Government of Canada regional news

    Released on May 14, 2025

    The Government of Saskatchewan is preparing for a possible postal strike that could begin as early as May 22, 2025. Ministries, Crowns and agencies have put contingency plans in place to limit service disruptions.

    The government encourages all clients, suppliers and businesses to switch to direct deposit, as those payments will not be impacted by any changes to postal services.

    Social Services Payments

    Building on the experience with the 2024 Canada Post service disruption, the Ministry of Social Services is preparing contingency plans for clients who receive benefit cheques by mail. Most ministry clients already receive benefit payments by direct deposit and these payments will continue as usual. We encourage clients to switch to direct deposit.

    Drug Plan and Extended Benefits 

    Residents requiring letters to submit to their private insurance providers for Special Support, Seniors’ Drug Plan, or Exception Drug Status may submit the request through the online Saskatchewan Formulary. Letters will be mailed once the Canada Post service disruption is resolved. 

    Health Cards and Vital Statistics Certificates

    Incoming and outgoing mail delays may affect applications for health cards and certificates for births, deaths or marriages. Visit eHealthsask.ca for options to minimize delays, including ordering online. 

    Crop Insurance/AgriStability Information and Payments 

    The Saskatchewan Crop Insurance Corporation (SCIC) will work with customers to determine alternate options for accessing information typically delivered through Canada Post, such as faxing, emailing or delivering to a local SCIC office for pick-up. Producers are encouraged to sign-up for direct deposit for receiving program payments. The direct payment form is available on SCIC’s website. 

    Payments to Government of Saskatchewan Suppliers

    The Ministry of Finance will make supplier cheques available for pickup in Regina for suppliers unable to register for direct deposit. Suppliers should call 306-787-7450 to make arrangements.

    Taxes, Refunds and Grant Payments

    In the event of a postal dispute, businesses are expected to ensure they file and pay taxes to the Ministry of Finance on time. Mail delays do not change tax deadlines or the assessment of penalties and interest. For more information, please review the Information Notice – IN 2025-03, Filing and Paying Provincial Taxes in the Event of a Postal Disruption.

    Tax clients are encouraged to sign up for the secure and convenient Saskatchewan eTax Services (SETS) online portal to file and pay taxes electronically and avoid any delays in meeting tax obligations. 

    Tax refunds and grant payments sent by direct deposit will not be delayed. Those who do not use direct deposit can call 1-800-667-6102 to set it up, delay the refund or grant payment, or request a courier delivery at their own cost.

    Crown Utility Accounts, Bills and More

    SGI, SaskTel, SaskPower and SaskEnergy invite customers to sign up for online billing and notifications to ensure they receive information about their utility bills, driver’s licence and vehicle registration renewals and other important communications. This helps avoid delays in receiving bills and account updates. Longer than usual wait times for customer service representatives are anticipated in the event of postal service disruptions, so customers are encouraged to visit the respective Crown websites or to call for more information regarding customer service options. Information is also available online regarding options for paying outstanding bills in the event mail-in payments are not possible.   

    Public Guardian and Trustee 

    The Public Guardian and Trustee’s office is preparing backup options for clients and client service providers who get payment cheques by mail. Many clients and service providers already use direct deposit and will not be affected. Clients and service providers are encouraged to switch to direct deposit as soon as possible. They can do so by contacting their trust officer or the Public Guardian and Trustee’s office at 1-877-787-5424 or by email at pgt@gov.sk.ca. 

    In the event of a postal strike, clients and suppliers and businesses can visit www.saskatchewan.ca/postal-strike for more detailed information.  

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Security: Carver Man Sentenced to More Than Two Years in Prison for Oxycodone Conspiracy

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    BOSTON – A Carver man was sentenced today in federal court in Boston for his involvement in an oxycodone conspiracy.

    Michael Atwood, 37, was sentenced by U.S. District Court Judge Denise J. Casper to 35 months in prison, to be followed by three years of supervised release. In November 2024, Atwood pleaded guilty in federal court in Boston to conspiracy to distribute and to possess with intent to distribute oxycodone pills. Campbell was indicted by a federal grand jury in August 2023 along with five co-conspirators.

    Between approximately November 2023 and June 2023, Atwood obtained oxycodone pills from co-defendant John Campbell that he redistributed to others. The amount of oxycodone pills that the defendant obtained from Campbell ranged from hundreds to more than a thousand at a time. On July 12, 2023, during a search of Atwood’s residence approximately $63,000 in cash was seized.

    In January 2025, Campbell was sentenced to four years in prison, to be followed by three years of supervised release.

    United States Attorney Leah B. Foley; Stephen Belleau, Acting Special Agent in Charge of the Drug Enforcement Administration, New England Field Division; Colonel Geoffrey D. Noble, Superintendent of the Massachusetts State Police; Thomas Demeo, Acting Special Agent in Charge of the Internal Revenue Service Criminal Investigation, Boston Field Office; and Ketty Larco-Ward, Inspector in Charge of the U.S. Postal Inspection Service’s Boston Division, made the announcement. Special assistance was provided by the Bureau of Alcohol, Tobacco, Firearms & Explosives; U.S. Coast Guard Investigative Service; Barnstable County Sheriff’s Office; and the Barnstable, Dennis, Bourne, Mashpee, Yarmouth, Sandwich and Falmouth Police Departments. Assistant U.S. Attorneys John T. Mulcahy, and Samuel R. Feldman of the Criminal Division and Alexandra Amrhein of the Asset Forfeiture Unit prosecuted the case.

    This effort is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation. OCDETF identifies, disrupts and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.

    MIL Security OSI –

  • MIL-OSI Security: Jefferson County Man Admits to Role in Drug Trafficking Operation in Eastern Panhandle

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

    MARTINSBURG, WEST VIRGINIA – Matthew David Viands, age 32, of Summit Point, West Virginia, has admitted to his role in a drug trafficking organization that distributed fentanyl and other illicit drugs in the Eastern Panhandle. 

    According to court documents, Viands was a distributor of fentanyl for the organization. Viands also admitted to failing to appear following his pretrial release in the case.

    Viands faces up to 20 years in prison for the drug charge and faces up to 10 years for failing to appear. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Of the 82 defendants, 80 others have been convicted. Fifty-nine defendants have been sentenced. One defendant, Charles Delroy Singletary, age 44, of Baltimore, Maryland, remains a fugitive. More in a recent release here: https://www.justice.gov/usao-ndwv/pr/six-more-sentenced-eastern-panhandle-fentanyl-drug-trafficking-operation

    Assistant U.S. Attorneys Lara Omps-Botteicher and Kyle Kane are prosecuting the case on behalf of the government.

    U.S. Magistrate Judge Robert W. Trumble presided.

    Investigative agencies include the Federal Bureau of Investigation (Pittsburgh Field Division and Baltimore Field Division); the Drug Enforcement Administration; the U.S. Department of Homeland Security Investigations; the United States Postal Inspection Service; the Bureau of Alcohol, Tobacco, Firearms, and Explosives; the United States Marshals Service;  the Eastern Panhandle Drug Task Force, a HIDTA-funded initiative; the West Virginia State Police; the West Virginia Air National Guard; the Jefferson County Sheriff’s Office; the Berkeley County Sheriff’s Office; Ranson Police Department; Martinsburg Police Department; Charles Town Police Department; the Berkeley County Prosecuting Attorney’s Office;  Stafford County Sheriff’s Office (Virginia); Frederick County Sheriff’s Office (Maryland); Frederick County Sheriff’s Office (Virginia); Winchester Police Department; and the Clarke County Sheriff’s Office (Virginia).

    This investigation is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

    MIL Security OSI –

  • MIL-OSI: Bitcoin Solaris Launches Phase 3 Presale Ahead of Mobile Mining Rollout via Nova App

    Source: GlobeNewswire (MIL-OSI)

    TALLINN, Estonia, May 14, 2025 (GLOBE NEWSWIRE) — Bitcoin Solaris, a next-generation blockchain platform engineered for speed, scalability, and accessibility, has entered Phase 3 of its public token presale, with BTC-S tokens now priced at 3 USDT. This milestone comes as the network prepares to launch the Nova App, a mobile-based mining tool that will enable users to mine tokens directly from their smartphones—an approach aimed at democratizing access to blockchain rewards.

    Mobile Mining Set to Onboard Millions

    The upcoming Nova App introduces a new way for individuals to participate in blockchain networks. Designed for ease of use, the app will allow users to contribute storage and idle CPU from their smartphones to passively mine BTC-S tokens. There’s no need for specialized hardware or staking procedures—Nova runs seamlessly in the background, making network participation more inclusive and globally accessible.

    “Our goal is to lower the barriers to blockchain mining,” said a Bitcoin Solaris spokesperson. “With the Nova App, anyone with a smartphone can contribute to the network and earn rewards, without the complexity that typically limits participation.”

    High-Speed Infrastructure with 2-Second Finality

    At the core of Bitcoin Solaris is a dual-layer blockchain architecture that delivers sub-2-second transaction finality. The network is capable of processing over 10,000 transactions per second (TPS), enabling use cases that range from DeFi and NFTs to real-time data processing.

    • The Base Layer ensures security and ledger integrity through a combination of Proof-of-Stake (PoS) and Proof-of-Capacity (PoC). This hybrid consensus reduces energy usage while maintaining decentralization.
    • The Solaris Layer handles smart contract execution and fast block production using Proof-of-History (PoH) and Proof-of-Time (PoT). This allows for deterministic block ordering and rapid propagation.

    This architecture was purpose-built for scalability at the protocol level—not added on as an afterthought—and is designed to handle high-frequency transactions with provable finality.

    Verified by Independent Security Audits

    To reinforce trust and security, Bitcoin Solaris has undergone multiple third-party reviews:

    • Cyberscope Audit reviewed the core protocol, identifying vulnerabilities and validating contract behavior under load.
    • Freshcoins Audit confirmed logic integrity and examined token mechanics.
    • KYC Verification ensures project leadership accountability—critical for investor and ecosystem trust.

    These certifications signal readiness for not only public use, but institutional scrutiny — something speed alone can’t replace.

    Limited Token Supply and Transparent Distribution

    Bitcoin Solaris maintains a hard cap of 21 million BTC-S tokens, with no inflation or dynamic minting. Token emissions follow a halving model, similar to Bitcoin, to promote long-term sustainability and value predictability. During Presale Phase 3, only 4.2 million tokens (20%) are available at the 3 USDT rate. In Phase 4, the price will increase to 4 USDT.

    For a technical dive into how Bitcoin Solaris achieves sub-2-second transaction finality, Crypto Royal walks through the network’s layered design, time-based consensus model, and how it compares to XRP in real-world performance scenarios.

    About Bitcoin Solaris

    Bitcoin Solaris is a high-performance, layer-1 blockchain protocol built to deliver ultra-fast transaction finality, energy-efficient consensus, and mass accessibility through mobile integration. The network is designed to support decentralized applications and everyday users alike, combining enterprise-level infrastructure with tools that enable anyone to participate.

    Website: https://bitcoinsolaris.com
    X (Twitter): https://x.com/BitcoinSolaris
    Telegram: https://t.me/Bitcoinsolaris

    Media Contact:
    Xander Levine
    info@bitcoinsolaris.com

    Disclaimer: This is a paid post and is provided by Bitcoin Solaris. 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. We do not guarantee any claims, statements, or promises made in this article. 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. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. 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. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Globenewswire does not endorse any content on this page.

    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 assume no responsibility for any inaccuracies, errors, or omissions. 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/ad2208fa-6981-4051-abdf-f11fd672b258

    https://www.globenewswire.com/NewsRoom/AttachmentNg/451e0475-9eb4-4058-af19-dc8749f89bb1

    https://www.globenewswire.com/NewsRoom/AttachmentNg/fe9aff59-3032-4661-9f67-fb691a20e558

    https://www.globenewswire.com/NewsRoom/AttachmentNg/24a489b2-0041-4082-84e8-c258e2d00899

    The MIL Network –

  • MIL-OSI: COFACE SA: Combined Shareholders’ General Meeting of 14 May 2025 approved all the proposed resolutions

    Source: GlobeNewswire (MIL-OSI)

    COFACE SA: Combined Shareholders’ General Meeting of 14 May 2025 approved all the proposed resolutions

    Paris, 14 May 2025 – 17.45

    The Combined Shareholders’ General Meeting of COFACE SA was held on 14 May 2025 at the Company’s headquarters in Bois-Colombes, and it was chaired by Mr Bernardo Sanchez Incera, Chairman of the Board of Directors.

    All the proposed resolutions were adopted by COFACE SA’s shareholders, including the payment of a dividend of €1.40 per share for the 2024 financial year with the coupon date set at 20 May 2025, and the payment date at 22 May 2025.

    All documents related to this General Meeting are available on COFACE SA institutional website (www.coface.com) and more precisely under “Investors/General Assembly”.

    The resolution voting results are online at:

    https://www.coface.com/investors/regulated-information/documents-relating-to-the-general-assembly

    CONTACTS

    ANALYSTS / INVESTORS
    Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
    Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

    MEDIA RELATIONS
    Saphia GAOUAOUI: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
    Adrien BILLET: +33 1 49 02 23 63 – adrien.billet@coface.com

    FINANCIAL CALENDAR 2025
    (subject to change)
    H1-2025 results: 31 July 2025 (after market close)
    9M-2025 results: 3 November 2025 (after market close)

    FINANCIAL INFORMATION
    This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: http://www.coface.com/Investors

    For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2024 and our 2024 Universal Registration Document (see part 3.7 “Key financial performance indicators”).

    Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust.
    You can check the authenticity on the website www.wiztrust.com.
     

    COFACE: FOR TRADE
    As a global leading player in trade credit risk management for more than 75 years, Coface helps companies grow and navigate in an uncertain and volatile environment.
    Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, Factoring.
    Every day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets.
    In 2024, Coface employed ~5,236 people and registered a turnover of €1.84 billion.

    www.coface.com

    COFACE SA is quoted in Compartment A of Euronext Paris
    Code ISIN: FR0010667147 / Ticker: COFA

    DISCLAIMER – Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2024 Universal Registration Document filed with AMF on 5 April 2024 under the number D.25-0227 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group’s businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.

    Attachment

    The MIL Network –

  • MIL-OSI: Euronext publishes Q1 2025 results

    Source: GlobeNewswire (MIL-OSI)

    Euronext publishes Q1 2025 results

    Strong start of the year with growth of non-volume-related revenue, record FICC trading volumes and exceptional market volatility.

    Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – 14 May 2025 – Euronext, the leading European capital market infrastructure, today publishes its results for the first quarter 2025 using the new, simplified reporting framework1.

    • Q1 2025 revenue and income was up +14.1% at €458.5 million:

    Non-volume-related revenue and income represented 57% of total revenue and income and covered 158% of underlying operating expenses, excluding D&A2:

    • Securities Services revenues grew to €83.4 million (+6.8%), driven by double-digit growth in custody and settlement revenue;
    • Capital Markets and Data Solutions revenue grew to €157.4 million (+6.6%), driven by the continued commercial expansion of Euronext Corporate and Investor Solutions and Technology Services and the strong performance of Advanced Data Solutions, supported by the acquisition of GRSS and by retail participation;
    • Net treasury income was €18.6 million (+58.8%), demonstrating the benefits of the Euronext Clearing expansion and the internalisation of net treasury income following the derivatives clearing migration in Q3 2024.

    Volume-related revenue was driven by high market volatility in Q1 2025:

    • FICC3Markets reported €90.7 million of revenue (+25.1%), driven by record performance in fixed income trading and clearing, commodities trading and clearing and FX trading;
    • Equity Markets revenue grew to €108.4 million (+18.0%), reflecting high volatility.
    • Underlying operating expenses excluding D&A were at €164.5 million (+9.1%). The increase compared to Q1 2024 reflects investments in growth and the impact of acquisitions performed in 2024, combined with strong costs discipline, in line with the ramp-up of growth investments set out as part of Euronext’s underlying cost guidance of €670 million for the full year 2025.
    • Adjusted EBITDA was €294.1 million (+17.0%) and adjusted EBITDA margin was 64.1% (+1.6pts).
    • Adjusted net income was €183.5 million (+11.8%) and adjusted EPS was €1.80 (+13.9%).
    • Reported net income was €164.8 million (+17.9%) and reported EPS was €1.62 (+20.0%).
    • Net debt to EBITDA4was at 1.4x at the end of March 2025, within Euronext’s target range of the “Innovate for Growth 2027” strategic plan. On 22 April 2025, Euronext had successfully redeemed the €500 million bond issued in connection with the acquisition of Euronext Dublin in April 2018.

    Key figures for the first quarter of 2025:

    In €m, unless stated otherwise Q1 2025 Q1 2024 % var % var l-f-l3F5
    Revenue and income 458.5 401.9 +14.1% +12.9%
    Underlying operational expenses excluding D&A2 (164.5) (150.7) +9.1% +7.2%
    Adjusted EBITDA 294.1 251.3 +17.0% +16.4%
    Adjusted EBITDA margin 64.1% 62.5% +1.6pts +1.9pts
    Net income, share of the parent company shareholders 164.8 139.7 +17.9%  
    Adjusted net income, share of the parent company shareholders 183.5 164.2 +11.8%  
    Adjusted EPS (basic, in €) 1.80 1.58 +13.9%  
    Reported EPS (basic, in €) 1.62 1.35 +20.0%  
    Adjusted EPS (diluted, in €) 1.80 1.58 +13.9%  
    Reported EPS (diluted, in €) 1.61 1.34 +20.1%  

    Stéphane Boujnah, Chief Executive Officer and Chairman of the Managing Board of Euronext, said:

    “In the first quarter of 2025, Euronext has delivered a remarkable performance. We achieved record revenue and income of €458.5 million, driven by initial successes of the strategic initiatives, growth of non-volume-related revenue and exceptional volatility across trading and clearing activities, especially in cash equity, fixed income, FX, power and commodities. Our diversified business model has allowed us to invest in growth and reach an adjusted EBITDA of €294.1 million, marking a significant +17.0% increase compared to Q1 2024. In Q1 2025, we reached record adjusted EPS (basic) of €1.80 per share. Our reported EPS (basic) grew by an impressive +20.0% compared to Q1 2024, to €1.62 per share.

    We have launched significant initiatives of our ‘Innovate for Growth 2027’ strategic plan to reinforce Euronext as a leader in the European financial markets. The upcoming consolidation of settlement for Amsterdam, Brussels and Paris equity trades in Euronext Securities represents a significant optimisation of the European post-trade landscape. With this strategic move, we foster the integration and competitiveness of European capital markets at an unprecedented speed.

    The launch late April 2025 of a European Common Prospectus6in English will pursue this ambition. This new initiative facilitates access to European capital markets and addresses the need for a competitive, integrated Savings and Investment Union. In addition, we are proud to launch a comprehensive set of measures to support the financing needs of companies that contribute to Europe’s strategic autonomy7.

    The acquisition in May 2025 of Admincontrol8, leader in the governance SaaS space, accelerates the development of Euronext Corporate Solutions in the Nordics, and reinforces Euronext’s subscription-based revenue.

    With this strong first quarter of 2025, we demonstrate our capacity to innovate ahead of the curve, leading the way to a stronger, more innovative and more competitive European capital market.”

    Q1 2025 business highlights

    • Q1 2025 revenue and income
      Q1 2025 Q1 2024 % var % var l-f-l
    Revenue and income (in €m) 458.5 401.9 +14.1% +12.9%
    Securities Services 83.4 78.1 +6.8% +4.8%
    Capital Markets and Data Solutions 157.4 147.6 +6.6% +4.5%
    Net treasury income 18.6 11.7 +58.8% +58.8%
    FICC Markets 90.7 72.5 +25.1% +25.2%
    Equity Markets 108.4 91.9 +18.0% +18.0%
    Other income 0.1 0.2 N/A N/A
    • Non-volume-related revenue
      • Securities Services
      Q1 2025 Q1 2024 % var % var l-f-l
    Revenue (in €m) 83.4 78.1 +6.8% +4.8%
    Custody and Settlement 75.8 67.9 +11.6% +9.4%
    Other Post Trade 7.6 10.2 -25.3% -25.3%

    Revenue from Custody and Settlement this quarter was at €75.8 million, +11.6% compared to Q1 2024. This strong performance was driven by growing Assets under Custody, dynamic settlement instructions and continued double-digit growth in services, supported by the acquisition of Acupay. At the end of the quarter, Assets under Custody amounted to €7.1 trillion, up +3.8% compared to end of Q1 2024. Over 39.3 million instructions were settled via Euronext Securities during the first quarter of 2025, up +9.3% compared to the first quarter of 2024.

    Other Post Trade revenue, which includes membership fees and other non-volume-related clearing fees, was €7.6 million in Q1 2025. The -25.3% decrease compared to Q1 2024 stems from the internalisation of the net treasury income related to Euronext derivatives flows in September 2024, which are now integrated in the net treasury income line.

    • Capital Markets and Data Solutions
      Q1 2025 Q1 2024 % var % var l-f-l
    Revenue (in €m) 157.4                147.6                  +6.6% +4.5%
    Primary Markets 46.3 45.5 +1.8% +2.1%
    Advanced Data Solutions 65.1 60.2 +8.1% +3.7%
    Corporate and Investor Solutions and Technology Services 45.9 41.8 +9.8% +8.1%

    Primary Markets revenue was €46.3 million in Q1 2025, an increase of +1.8% compared to Q1 2024. The first quarter recorded slower equity listing performance explained by a volatile environment. Euronext sustained its leading position for equity listing with 8 new listings.

    Advanced Data Solutions revenue was €65.1 million in Q1 2025, up +8.1% compared to Q1 2024. This dynamic performance reflects the contribution of GRSS, strong appetite from retail and growing monetisation of diversified datasets.

    Corporate and Investor Solutions and Technology Services revenue grew by +9.8% in Q1 2025 to €45.9 million. This strong performance reflects the continued commercial expansion of the governance SaaS offering, the increased use of colocation and microwave connectivity, and double-digit growth of investor solutions, supported by the acquisition of Substantive Research.

    Following the completion of the acquisition of Admincontrol on 13 May 2025, Admincontrol’s revenue will be integrated with Corporate and Investor Solutions and Technology Services revenue from Q2 2025.

    • Net treasury income

    Net treasury income was at €18.6 million (+58.8%). This reflect the benefit from the Euronext Clearing expansion and the internalisation of treasury income from LCH SA following the completion of the derivatives clearing migration, as well as higher cash collateral posted to the CCP due to the elevated market volatility.

    • Volume-related revenue
      • FICC Markets
      Q1 2025 Q1 2024 % var % var
    l-f-l
    Revenue (in €m) 90.7 72.5 +25.1% +25.2%
    Fixed income trading and clearing 51.8 39.1 +32.4% +32.4%
    Commodities9 trading and clearing 29.6 26.3 +12.8% +13.9%
    FX trading 9.2 7.1 +30.4% +26.5%

    Fixed income trading and clearing revenue reached €51.8 million in Q1 2025, up +32.4% compared to Q1 2024, driven by record fixed income trading activity supported by favourable market conditions.

    Commodities trading and clearing revenue reached €29.6 million in Q1 2025, up +12.8% compared to Q1 2024, reflecting record intraday power trading volumes and dynamic agricultural commodity trading and clearing.

    FX trading revenue was up +30.4%, at €9.2 million in Q1 2025, reflecting record trading volumes, and a positively geared volume mix.

    • Equity Markets
      Q1 2025 Q1 2024 % var % var
    l-f-l
    Revenue (in €m) 108.4 91.9 +18.0% +18.0%
    Cash equity trading and clearing 94.0 76.8 +22.5% +22.5%
    Financial derivatives trading and clearing 14.4 15.1 -4.8% -4.8%

    Cash equity trading and clearing revenue was €94.0 million in Q1 2025, up +22.5% driven by exceptional market volatility. Euronext recorded average daily cash trading volumes of €13.8 billion, up +31.8% compared to Q1 2024. Revenue capture on cash trading averaged 0.50 bps for the first quarter of 2025, impacted by higher volumes, stronger intraday volatility and larger average order size. Euronext market share on cash equity trading averaged 64.1% in Q1 2025.

    Financial derivatives trading and clearing revenue was €14.4 million in Q1 2025, -4.8% compared to Q1 2024. This decrease is mostly linked to the decrease of the average clearing fees, as following the clearing migration certain clearing fees are now reported in the line Other Post Trade revenues, and as such not fully comparable with Q1 2024.

    Q1 2025 financial performance

    In €m, unless stated otherwise Q1 2025 Q1 2024 % var % var
    l-f-l
    Revenue and income 458.5 401.9 +14.1% +12.9%
    Underlying operational expenses exc. D&A (164.5) (150.7) +9.1% +7.2%
    Adjusted EBITDA 294.1 251.3 +17.0% +16.4%
    Adjusted EBITDA margin 64.1% 62.5% +1.6pts +1.9pts
    Operating expenses exc. D&A (164.3) (159.4) +3.1% +1.2%
    EBITDA 294.2 242.6 +21.3% +20.6%
    Depreciation & Amortisation (48.3) (44.0) +9.8% +10.6%
    Total Expenses (inc. D&A) (212.6) (203.4) +4.6% +2.9%
    Adjusted operating profit 272.6 232.3 +17.4% +16.8%
    Operating Profit 245.9 198.6 +23.8%  
    Net financing income / (expense) (1.5) 4.7 N/A  
    Profit before income tax 244.4 203.3 +20.2%  
    Income tax expense (67.8) (54.7) +24.0%  
    Share of non-controlling interests (11.9) (8.9) +33.6%  
    Net income, share of the parent company shareholders 164.8 139.7 +17.9%  
    Adjusted Net income, share of the parent company shareholders10 183.5 164.2 +11.8%  
    Adjusted EPS (basic, in €) 1.80 1.58 +13.9%  
    Reported EPS (basic, in €) 1.62 1.35 +20.0%  
    Adjusted EPS (diluted, in €) 1.80 1.58 +13.9%  
    Reported EPS (diluted, in €) 1.61 1.34 +20.1%  
    • Q1 2025 adjusted EBITDA

    Underlying operating expenses excluding D&A1 were at €164.5 million (+9.1%). The increase compared to Q1 2024 reflects investments in growth and the impact of acquisitions performed in 2024, partially offset by cost discipline. In addition, Q1 2024 expenses were positively impacted by one-off releases.

    Driven by the double digit growth in revenue, adjusted EBITDA for the quarter reached €294.1 million, up +17.0% compared to Q1 2024. This represents an adjusted EBITDA margin of 64.1%, up 1.6pts vs. Q1 2024. On a like-for-like basis at constant currencies, adjusted EBITDA grew by +16.4% compared to Q1 2024.

    Q1 2025 non-underlying expenses profited from a one-off release of accruals. As a consequence, reported EBITDA was at €294.2 million, up +21.3% compared to Q1 2024.

    • Q1 2025 net income, share of the parent company shareholders

    Depreciation and amortisation accounted for €48.3 million in Q1 2025, +9.8% more than Q1 2024. PPA related to acquired businesses accounted for €20.4 million.

    Adjusted operating profit was €272.6 million, up +17.4% compared to Q1 2024.

    Euronext reported a net financing expense of €1.5 million in Q1 2025, compared to €4.7 million net financing income in Q1 2024. The variation reflects short-term FX movements and decreasing interest rates.

    Income tax for Q1 2025 was €67.8 million. This translated into an effective tax rate of 27.7% for the quarter, compared to 26.9% in Q1 2024.

    Share of non-controlling interests amounted to €11.9 million, correlated with the strong performance of MTS and Nord Pool.

    As a result, the reported net income, share of the parent company shareholders, increased by +17.9% for Q1 2025 compared to Q1 2024, to €164.8 million. This represents a reported EPS of €1.62 basic and €1.61 diluted. Adjusted net income, share of the parent company shareholders, was up +11.8% to €183.5 million. Adjusted EPS (basic) was €1.80. This increase reflects higher profit and a lower number of outstanding shares over the first quarter of 2025 compared to Q1 2024.

    The weighted number of shares used over the first quarter of 2025 was 101,695,588 for the basic calculation and 102,166,786 for the diluted calculation, compared to 103,640,164 and 104,040,256 respectively over the first quarter of 2024. The difference is due to the share repurchase programme executed by Euronext.

    In Q1 2025, Euronext reported a net cash flow from operating activities of €190.6 million, compared to €184.6 million in Q1 2024, reflecting higher profit before tax and higher income tax paid in Q1 2025. Excluding the impact on working capital from Euronext Clearing and Nord Pool CCP activities, net cash flow from operating activities accounted for 88.1% of EBITDA in Q1 2025.

    Q1 2025 corporate highlights since publication of the fourth quarter 2024 results on 13 February 2025

    • Euronext consolidates settlement on its markets to improve the competitiveness of European capital markets

    On 12 March 2025, Euronext has announced that from September 2026, Euronext Amsterdam, Brussels, and Paris will designate Euronext Securities as the central securities depository (CSD) for equity trade settlements. This aligns with Euronext’s “Innovate for Growth 2027” strategic plan and aims to enhance the competitiveness of European capital markets by addressing post-trade fragmentation. Currently, equity trade settlement in Europe is fragmented across over 30 CSDs. This initiative allows clients to consolidate settlement and custody activities across multiple markets into a single CSD, streamlining operations and enhancing liquidity. It also aids them adapting to regulatory changes, such as the move to T+1 settlement in October 2027. Additionally, Euronext has moved its own shares to Euronext Securities, showcasing the benefits of this consolidation for equity issuers.

    • Dividend payment schedule for 2025

    The Managing Board, upon the approval of the Supervisory Board, has decided to propose for approval at the Annual General Meeting the payment of a dividend of €2.90 per ordinary share (based on the total number of eligible shares). The dividend would be distributed evenly (pro rata the number of shares held) to holders of ordinary shares on the dividend record date set on 27 May 2025 (ex-dividend date is set on 26 May 2025 and payment date is set on 28 May 2025). This dividend represents a pay-out ratio of 50% of the reported net income, in line with Euronext’s current dividend policy.

    Corporate highlights since 1 April 2025

    • Euronext completes the acquisition of Admincontrol

    On 13 May 2025, Euronext announced the completion of the acquisition of 100% of the shares of Admincontrol for an enterprise value of NOK 4,650 million. This transaction complies with Euronext’s capital allocation policy, with a ROCE expected to exceed the WACC within three to five years post-closing11. Admincontrol will be part of Euronext Corporate Solutions, strengthening the development of the franchise in the Nordics and the UK. This acquisition supports Euronext’s strategy to expand its software-as-a-service (SaaS) offering and increases Euronext’s share of subscription-based revenue. Admincontrol has experienced double-digit growth over the past five years, with NOK 452 million in revenue and NOK 200 million in EBITDA in 202412. From the second quarter of 2025, Admincontrol’s revenue will be integrated into Euronext’s revenue line Corporate and Investor Solutions and Technology Services.

    • Launch of European Common Prospectus to accelerate capital market integration and boost IPO activity across the EU

    On 25 April 2025, Euronext has launched the European Common Prospectus, a standardised template for equity issuances, with the aim to integrate European capital markets more deeply. This initiative seeks to reduce regulatory fragmentation, enhance transparency, and promote cross-border investment. The prospectus, developed since November 2024, aligns with existing EU regulations and simplifies the listing process by reducing the required sections from 21 to 11. It uses English as the preferred language, facilitating cross-border access to capital. This new format benefits issuers by streamlining the listing process, and investors by providing consistency and comparability across EU jurisdictions. The full implementation of the Listing Act is expected by June 2026; but this prospectus addresses the immediate need to boost IPO activity in Europe in the meantime.

    • Euronext strengthens its support for European strategic autonomy

    On 6 May 2025, Euronext announced the implementation of a full set of initiatives to support investments in European strategic autonomy. This includes the creation of a new series of thematic indices covering companies that contribute to Europe’s strategic autonomy, tailored solutions to enhance equity financing of European aerospace and defence companies and facilitated issuance of European defence bonds13.

    • Euronext volumes for April 2025

    In April 2025, the average daily transaction value on the Euronext cash order book stood at €16.0 billion, up +44.1% compared to the same period last year. The overall average daily volume on Euronext derivatives stood at 712,389 lots, up +6.4% compared to April 2024, and the open interest was 25,388,147 contracts at the end of April 2025, up +6.4% compared to April 2024. The average daily volume on Euronext FX’s spot foreign exchange market stood at $38.2 billion, up +33.1% compared to the same period last year. Average daily day-ahead power traded was 2.7TWh, down -3.5% compared to the same period last year, and average daily intraday power traded was 0.5TWh, up +37.4% compared to April 2024. MTS Cash average daily volumes were up +55.4% to €55.8 billion in April 2025, MTS Repo term adjusted average daily volume stood at €723.1 billion, up +50.1% compared to the same period last year. Euronext Clearing cleared 32,206,770 shares in April 2025, +58.2% compared to April 2024. €2,752 billion of wholesale bonds were cleared in April 2025 (double counted), up +19.7% compared to the same period in 2024. 1,098,474 bond retail contracts were cleared in April 2025 (double counted), down -18.0% compared to April 2024. The number of derivatives contracts cleared was 14,247,781, up +934.7% compared to April 2024 (single counted). Euronext Securities reported 12,506,259 settlement instructions in April 2025, up +14.0% compared to the same period last year. The total Assets Under Custody reached over €7.0 trillion in April 2025, up +3.0% compared to the same period last year.

    Results Webcast

    A webcast will be held on Thursday, 15 May 2025, at 09:00 CEST (Paris time) / 08:O0 BST (London time):

    Live webcast:

    For the live webcast go to: Webcast

    The webcast will be available for replay after the call at the webcast link and on the Euronext Investor Relations webpage.
    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        Andrea Monzani         +39 02 72 42 62 13                 

    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                

    Corporate Solutions        Andrea Monzani         +39 02 72 42 62 13                          

    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. The figures in this document have not been audited or reviewed by our external auditor. 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.

    Appendix

    The figures in this Appendix have not been audited or reviewed by our external auditor.

    Non-IFRS financial measures

    For comparative purposes, the company provides unaudited non-IFRS measures including:

    • Operational expenses excluding depreciation and amortisation, underlying operational expenses excluding depreciation and amortisation;
    • EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin.

    Non-IFRS measures are defined as follows:

    • Operational expenses excluding depreciation and amortisation as the total of salary and employee benefits, and other operational expenses;
    • Underlying operational expenses excluding depreciation and amortisation as the total of salary and employee benefits, and other operational expenses, excluding non-recurring costs;
    • Underlying revenue and income as the total of revenue and income, excluding non-recurring revenue and income;
    • Non-underlying items as items of revenue, income and expense that are material by their size and/or that are infrequent and unusual by their nature or incidence are not considered to be recurring in the normal course of business and are classified as non-underlying items on the face of the income statement within their relevant category in order to provide further understanding of the ongoing sustainable performance of the Group. These items can include:
      • integration or double run costs of significant projects, restructuring costs and costs related to acquisitions that change the perimeter of the Group;
      • one-off finance costs, gains or losses on sale of subsidiaries and impairments of investments:
      • amortisation and impairment of intangible assets which are recognised as a result of acquisitions and mostly comprising customer relationships, brand names and software that were identified during purchase price allocation (PPA);
      • tax related to non-underlying items.
    • Adjusted operating profit as the operating profit adjusted for any non-underlying revenue and income and non-underlying costs, including PPA of acquired businesses;
    • EBITDA as the operating profit before depreciation and amortisation;
    • Adjusted EBITDA as the adjusted operating profit before depreciation and amortisation adjusted for any non-underlying operational expenses excluding depreciation and amortisation;
    • EBITDA margin as EBITDA divided by total revenue and income;
    • Adjusted EBITDA margin as adjusted EBITDA, divided by total revenue and income;
    • Adjusted net income, as the net income, share of the parent company shareholders, adjusted for any non-underlying items and related tax impact.

    Non-IFRS financial measures are not meant to be considered in isolation or as a substitute for comparable IFRS measures and should be read only in conjunction with the consolidated financial statements.

    Consolidated income statement

      Q1 2025 Q1 2024
    in €m, unless stated otherwise Underlying Non-underlying Reported Underlying Non-underlying Reported
    Revenue and income 458.5 – 458.5 401.9 – 401.9
    Securities Services 83.4 – 83.4 78.1 – 78.1
    Custody and Settlement 75.8 – 75.8 67.9 – 67.9
    Other Post Trade 7.6 – 7.6 10.2 – 10.2
    Capital Markets and Data Solutions 157.4 – 157.4 147.6 – 147.6
    Primary Markets 46.3 – 46.3 45.5 – 45.5
    Advanced data solutions 65.1 – 65.1 60.2 – 60.2
    Corporate and Investor Solutions and Technology Services 45.9 – 45.9 41.8 – 41.8
    Net treasury income 18.6 – 18.6 11.7 – 11.7
    FICC Markets 90.7 – 90.7 72.5 – 72.5
    Fixed income trading and clearing 51.8 – 51.8 39.1 – 39.1
    Commodities income trading and clearing 29.6 – 29.6 26.3 – 26.3
    FX trading 9.2 – 9.2 7.1 – 7.1
    Equity Markets 108.4 – 108.4 91.9 – 91.9
    Cash equity trading and clearing 94.0 – 94.0 76.8 – 76.8
    Financial derivatives trading and clearing 14.4 – 14.4 15.1 – 15.1
    Other income 0.1 – 0.1 0.2 – 0.2
    Operating expenses excluding D&A (164.5) 0.1 (164.3) (150.7) (8.7) (159.4)
    Salaries and employee benefits (86.9) (0.5) (87.3) (80.7) (4.4) (85.1)
    Other operational expenses, of which (77.6) 0.6 (77.0) (70.0) (4.3) (74.3)
    System & communication (25.9) (0.1) (26.0) (24.6) (1.4) (26.0)
    Professional services (18.1) 1.0 (17.1) (11.9) (1.9) (13.8)
    Clearing expense (0.2) – (0.2) (9.1) – (9.1)
    Accommodation (4.6) (0.2) (4.8) (3.8) (0.3) (4.1)
    Other operational expenses (28.8) – (28.8) (20.6) (0.7) (21.3)
    EBITDA 294.1 0.1 294.2 251.3 (8.7) 242.6
    EBITDA margin 64.1%   64.2% 62.5%   60.4%
    Depreciation & amortisation (21.5) (26.8) (48.3) (19.0) (25.0) (44.0)
    Total expenses (185.9) (26.7) (212.6) (169.7) (33.7) (203.4)
    Operating profit 272.6 (26.7) 245.9 232.3 (33.7) 198.6
    Net financing income / (expense) (1.5) – (1.5) 4.7 (0.0) 4.7
    Profit before income tax 271.1 (26.7) 244.4 237.0 (33.7) 203.3
    Income tax expense (74.9) 7.1 (67.8) (63.4) 8.7 (54.7)
    Non-controlling interests (12.7) 0.9 (11.9) (9.3) 0.4 (8.9)
    Net income, share of the parent company shareholders 183.5 (18.8) 164.8 164.2 (24.5) 139.7
    EPS (basic, in €) 1.80   1.62 1.58   1.35
    EPS (diluted, in €) 1.80   1.61 1.58   1.34

    Adjusted EPS definition

      Q1 2025 Q1 2024
    Net income reported 164.8 139.7
    EPS reported 1.62 1.35
    Adjustments for non-underlying items included in:    
    Operating expenses exc. D&A                                       0.1 (8.7)
    Depreciation and amortisation                                   (26.8) (25.0)
    Minority interest 0.9 0.4
    Tax related to adjustments 7.1 8.7
    Adjusted net income 183.5 164.2
    Adjusted EPS 1.80 1.58

    Consolidated comprehensive income statement

      Q1 2025 Q1 2024
    Profit for the period 176.6 148.6
         
    Other comprehensive income    
    Items that may be reclassified to profit or loss:    
    – Exchange differences on translation of foreign operations 16.9 (26.3)
    – Income tax impact on exchange differences on translation of foreign operations (1.1) 2.6
    – Gains and losses on cash flow hedges 2.2 –
    – Change in value of debt investments at fair value through other comprehensive income – 0.2
    – Income tax impact on change in value of debt investments at fair value through
    other comprehensive income    		 – (0.1)
         
    Items that will not be reclassified to profit or loss:    
    – Remeasurements of post-employment benefit obligations (2.5) (0.3)
    Other comprehensive income for the period, net of tax 15.5 (23.8)
    Total comprehensive income for the period 192.1 124.8
         
    Comprehensive income attributable to:    
    – Owners of the parent 179.9 116.6
    – Non-controlling interests 12.2 8.2

    Consolidated statement of financial position

    in €m 31 March 2025 31 December 2024
    Non-current assets    
    Property, plant and equipment 107.4 106.2
    Right-of-use assets 88.2 57.5
    Goodwill and other intangible assets                                6,096.5                           6,096.2
    Deferred income tax assets 29.1 30.4
    Investments in associates and joint ventures                                          0.8                                    0.8
    Financial assets at fair value through OCI                                     357.0                               357.0
    Other non-current assets 3.4 3.5
    Total non-current assets 6,682.4 6,651.6
         
    Current assets    
    Trade and other receivables 574.2 412.9
    Income tax receivable 17.5 11.4
    Derivative financial instruments 2.2 –
    CCP clearing business assets 341,647.6 270,288.7
    Other current financial assets 59.5 63.8
    Cash & cash equivalents 1,642.3 1,673.5
    Total current assets 343,943.3                272,450.3
         
    Total assets 350,625.7 279,101.8
         
    Equity    
    Shareholders’ equity 4,224.6 4,245.2
    Non-controlling interests 161.7 156.8
    Total Equity 4,386.3 4,402.0
         
    Non-current liabilities    
    Borrowings 2,537.5 2,537.0
    Lease liabilities 71.7 46.2
    Other non-current financial liabilities 3.5 3.5
    Deferred income tax liabilities 495.1 496.8
    Post-employment benefits 23.0 21.0
    Contract liabilities 54.2 56.4
    Other provisions 7.0 7.2
    Total Non-current liabilities 3,192.1 3,168.2
         
    Current liabilities    
    Borrowings 524.0 516.5
    Lease liabilities 21.9 15.8
    Derivative financial instruments –                                         0.1
    CCP clearing business liabilities 341,695.3 270,357.9
    Income tax payable 99.3 91.1
    Trade and other payables 526.5 464.3
    Contract liabilities 176.2 80.1
    Other provisions 4.1 5.9
    Total Current liabilities 343,047.3 271,531.7
         
    Total equity and liabilities 350,625.7 279,101.8

    *The comparative figures for CCP clearing business assets and liabilities were both adjusted upwards by €69,713.3 million in the Universal Registration Document 2024 as published on 28 March 2025 due to an adjustment in the recognition of clearing business assets and clearing business liabilities, when compared to the positions in the press release dated 13 February 2025.

    Consolidated statement of cash flows

    in €m Q1 2025 Q1 2024
    Profit before tax 244.4 203.3
    Adjustments for:    
    – Depreciation and amortisation 48.3 44.0
               – Share based payments 3.9 3.9
    – Changes in working capital (37.4) (36.6)
    Cash flow from operating activities 259.2 214.7
    Income tax paid (68.6) (30.0)
    Net cash flows from operating activities 190.6 184.6
         
    Cash flow from investing activities    
    Purchase of current financial assets                                     (0.7) (21.7)
    Redemption of current financial assets                                      5.7 18.6
    Purchase of property, plant and equipment                                    (6.8) 0.1
    Purchase of intangible assets (23.0) (16.4)
    Interest received 10.3 10.4
    Proceeds from sale of property, plant, equipment and intangible assets                                         – 0.1
    Net cash flow from investing activities (14.6) (8.9)
         
    Cash flow from financing activities    
    Interest paid (0.8) (0.2)
    Payment of lease liabilities (5.5) (5.5)
    Transactions in own shares (204.5) (2.1)
    Dividends paid to non-controlling interests – (0.3)
    Net cash flow from financing activities (210.8) (8.2)
         
    Total cash flow over the period (34.8) 167.6
    Cash and cash equivalents – Beginning of period 1,673.5 1,448.8
    Non-cash exchange gains/(losses) on cash and cash equivalents 3.6 (6.8)
    Cash and cash equivalents – End of period 1,642.3 1,609.6

    Volumes for the first quarter of 2025

    • Securities Services
    Euronext Securities activity Q1 2025 Q1 2024 % var
    Number of settlement instructions over the period 39,317,842 35,963,785 +9.3%
    Assets under Custody (in €bn), end of period 7,132 6,871 +3.8%
    • Capital Markets
      Q1 2025 Q1 2024 % var
    Number of trading days 63 63 –
    Listings      
    Number of Issuers on Equities      
    Euronext 1,786 1,860 -4.0%
    SMEs 1,397 1,463 -5.0%
    Number of Listed Securities      
    Funds 2,163 2,392 -10.0%
    ETFs 4,158 3,861 +8.0%
    Bonds 55,645 56,862 -2.0%
    Capital raised on primary and secondary market      
    Total Euronext, (€ million)      
    Number of new equity listings 8 10  
    Money Raised – New equity listings (including over-allotment) 237 156 +52.0%
    Money Raised – Follow-ons on equities 2,850 8,012 -64.0%
    Money Raised – Bonds 316,716 380,183 -17.0%
    Total Money Raised 319,803 388,352 -18.0%
    of which SMEs      
    Number of new equity listings 8 9  
    Money Raised – New equity listings (including over-allotment) 237 156 +52.0%
    Money Raised – Follow-ons on equities 1,278 4,957 -74.0%
    Money Raised – Bonds 396 478 -17.0%
    Total Money Raised 1,911 5,591 -66.0%
    • FICC Markets

    Fixed income trading

      Q1 2025 Q1 2024 % var
    Transaction value (€ million, single counted)      
    MTS      
    ADV MTS Cash 56,791 34,658 +64.0%
    TAADV MTS Repo 508,929 491,789 +3.0%
    Other fixed income      
    ADV Fixed income 1,932 1,744 +11.0%

    Fixed income clearing

    Number of transactions and lots cleared Q1 2025 Q1 2024 % var
    Bonds – Wholesale (nominal value in €bn – double counted) 8,160 7,392 +10.0%
    Bonds – Retail (number of contracts – double counted) 4,175,846 3,800,084 +10.0%

    Commodities markets

      Q1 2025 Q1 2024 % var
    Number of trading days              90 91 -1.1%
    Power volume (in TWh)      
    ADV Day-ahead Power Market          3.28 3.32 -1.2%
    ADV Intraday Power Market          0.43 0.29 +47.3%
      Q1 2025 Q1 2024 % var
    Number of trading days 63 63 –
    Derivatives Volume (in lots)      
    Commodity 7,886,335 7,193,909 +9.6%
    Futures 7,570,868 6,756,390 12.1%
    Options 315,467 437,519 -27.9%
    Derivatives ADV (in lots)      
    Commodity 125,180 114,189 9.6%
    Futures 120,173 107,244 12.1%
    Options 5,007 6,945 -27.9%
      31 March 2025 31 March 2024 % var
    Open interest (in lots)      
           
    Commodity 1,043,370 923,004 +13.0%
    Futures 841,449 584,361 +44.0%
    Options 201,921 338,643 -40.4%

    FX Markets

      Q1 2025 Q1 2024 % var
    Number of trading days 63 63 –
    FX volume ($m, single counted)      
    Total Euronext FX 1,856,742 1,583,472 +17.3%
    ADV Euronext FX 29,472 24,742 +19.1%
    • Equity Markets

    Cash trading

      Q1 2025 Q1 2024 % var
    Number of trading days 63 63 –
    Number of transactions (buy and sell)      
    Total Cash Market 188,721,610 152,340,714 +24.0%
    ADV Cash Market 2,995,581 2,418,107 +24.0%
    Transaction value (€ million, single counted)      
    Total Cash Market 867,015 657,688 +31.8%
    ADV Cash Market 13,762 10,439 +31.8%

    Cash clearing

    Number of transactions and lots cleared Q1 2025 Q1 2024 % var
    Shares (number of contracts – single counted) 76,849,676 58,446,470 +31.0%
    Derivatives (number of contracts – single counted) 42,112,910 5,823,089 +623.0%

    Financial derivatives markets

      Q1 2025 Q1 2024 % var
    Number of trading days 63 63 –
    Derivatives Volume (in lots)      
    Equity 34,226,575 32,815,066 +4.3%
    Index 11,889,419 12,477,980 -4.7%
    Futures 6,946,746 7,240,666 -4.1%
    Options 4,942,673 5,237,314 -5.6%
    Individual Equity 22,337,156 20,337,086 +9.8%
    Futures 489,757 574,911 -14.8%
    Options 21,847,399 19,762,175 +10.6%
           
    Derivatives ADV (in lots)      
    Equity 543,279 520,874 +4.3%
    Index 188,721 198,063 -4.7%
    Futures 110,266 114,931 -4.1%
    Options 78,455 83,132 -5.6%
    Individual Equity 354,558 322,811 +9.8%
    Futures 7,774 9,126 -14.8%
    Options 346,784 313,685 +10.6%
           
    Open interest (in lots) 31 March 2025 31 March 2024 % var
    Equity 23,589,360 21,831,754 +8.1%
    Index 1,052,853 878,571 +19.8%
    Futures 477,425 638,777 -25.3%
    Options 575,428 239,794 +140.0%
    Individual Equity 22,536,507 20,953,183 +7.6%
    Futures 165,404 564,408 -70.7%
    Options 22,371,103 20,388,775 +9.7%

    1www.euronext.com/en/media/13322/download
    2 Definition in Appendix – adjusted for non-underlying operating expenses excluding D&A and non-underlying revenue and income.
    3   Fixed income, commodities and currencies
    4 Last twelve months reported and adjusted EBITDA
    5 Like-for-like basis at constant currency
    6www.euronext.com/en/about/media/euronext-press-releases/euronext-launches-european-common-prospectus-accelerate-capital
    7www.euronext.com/en/about/media/euronext-press-releases/euronext-strengthens-its-support-for-european-strategic
    8www.euronext.com/en/about/media/euronext-press-releases/euronext-completes-acquisition-admincontrol
    9 Including revenue from power trading and clearing
    10 For the total adjustments performed please refer to the Appendix of this press release
    11 The cashflow related to the transaction will be communicated as part of Q2 2025 results
    12 Unaudited figures
    13www.euronext.com/en/about/media/euronext-press-releases/euronext-strengthens-its-support-for-european-strategic

    Attachment

    The MIL Network –

  • MIL-OSI: Gabelli Healthcare & WellnessRx Trust (NYSE: GRX) Increases Quarterly Distribution 13% to $0.17 From $0.15 Annual Distribution to $0.68 From $0.60 Per Share

    Source: GlobeNewswire (MIL-OSI)

    RYE, N.Y., May 14, 2025 (GLOBE NEWSWIRE) — The Board of Trustees of The Gabelli Healthcare & WellnessRx Trust (the “Fund”) approved an increase in the annualized distribution to $0.68 per share, which will be paid $0.17 per share quarterly, commencing with the quarterly distribution payable on June 23, 2025 to common shareholders of record on June 13, 2025.

    The Fund intends to pay a quarterly distribution determined by the Board of Trustees. In addition to the quarterly distributions, and in accordance with the minimum distribution requirements of the Internal Revenue Code for regulated investment companies, the Fund may pay an adjusting distribution in December which includes any additional income and net realized capital gains in excess of the quarterly distributions for that year.

    Each quarter, the Board of Trustees reviews the amount of any potential distribution and the income, realized capital gain, or capital available. The Board of Trustees will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the current financial market environment. The Fund’s distribution policy is subject to modification or termination by the Board of Trustees at any time, and there can be no guarantee that the policy will continue. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

    All or part of the distribution may be treated as long-term capital gain or qualified dividend income (or a combination of both) for individuals, each subject up to the maximum federal income tax rate for long term capital gains, which is currently 20% in taxable accounts for individuals (or less depending on an individual’s tax bracket). In addition, certain U.S. shareholders who are individuals, estates or trusts and whose income exceeds certain thresholds will be required to pay a 3.8% Medicare surcharge on their “net investment income”, which includes dividends received from the Fund and capital gains from the sale or other disposition of shares of the Fund.

    If the Fund does not generate earnings (dividends and interest income, less expenses, and realized net capital gain) equal to or in excess of the aggregate distributions paid by the Fund in a given year, then the amount distributed in excess of the Fund’s earnings would be deemed a return of capital. Since this would be considered a return of a portion of a shareholder’s original investment, it is generally not taxable and would be treated as a reduction in the shareholder’s cost basis.

    Long-term capital gains, qualified dividend income, investment company taxable income, and return of capital, if any, will be allocated on a pro rata basis to all distributions to common shareholders for the year. Based on the accounting records of the Fund currently available, each of the distributions paid to common shareholders in 2025 would include approximately 4% from net investment income, 80% from net capital gains and 16% would be deemed a return of capital on a book basis. This does not represent information for tax reporting purposes. The estimated components of each distribution are updated and provided to shareholders of record in a notice accompanying the distribution and are available on our website (www.gabelli.com). The final determination of the sources of all distributions in 2025 will be made after year end and can vary from the quarterly estimates. Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution. All individual shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2025 distributions in early 2026 via Form 1099-DIV.

    Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. For more information regarding the Fund’s distribution policy and other information about the Fund, call:

    Bethany Uhlein
    (914) 921-5546

    About The Gabelli Healthcare & WellnessRxTrust
    The Gabelli Healthcare & WellnessRx Trust is a diversified, closed-end management investment company with $218 million in total net assets whose primary investment objective is long-term growth of capital. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

    NYSE: GRX
    CUSIP – 36246K103

    THE GABELLI HEALTHCARE & WELLNESSRx TRUST
        Investor Relations Contact:
        Bethany Uhlein
        914.921.5546
        buhlein@gabelli.com

    The MIL Network –

  • MIL-OSI Security: Suffolk Man Sentenced to 25 Years in Prison for Sexually Exploiting Minors

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    NORFOLK, Va. – A Suffolk man was sentenced today to 25 years in prison for sexual exploitation of children.

    According to court documents, Gary Owens Jr., 42, of Suffolk, engaged in a scheme to “catfish” teenage boys. Using images of a real, adult woman, including sexually explicit images, Owens pretended to be a minor female named “Jessica Lincon” on Instagram before enticing boys to Kik to obtain sexually explicit images and videos from them.

    Owens exploited children over at least a five-year period from 2019 to 2023 and amassed a collection of at least 1,800 images and videos of child sexual abuse material and age questionable material. Law enforcement identified at least 35 minor victims in 2022 alone.

    Erik S. Siebert, U.S. Attorney for the Eastern District of Virginia, and Sean Ryan, Special Agent in Charge of the FBI Washington Field Office’s Criminal and Cyber Division, made the announcement after sentencing by U.S. District Judge Elizabeth W. Hanes. This case was investigated by the FBI Washington Field Office Child Exploitation and Human Trafficking Task Force. Significant assistance was provided by the FBI’s Norfolk Field Office.

    Assistant U.S. Attorneys Laura D. Withers and Rebecca Gantt prosecuted the case.

    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 U.S. Attorney’s Offices and the Child Exploitation and Obscenity Section (CEOS), Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend, and prosecute individuals who exploit children via the internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, please visit www.justice.gov/psc.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 2:24-cr-78.

    MIL Security OSI –

  • MIL-OSI USA: Crapo Statement at Hearing on Trade in Critical Supply Chains

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo
    Washington, D.C.–U.S. Senate Finance Committee Chairman Mike Crapo (R-Idaho) delivered the following remarks at a hearing entitled, “Critical Supply Chains.”
    As prepared for delivery:
    “Trade has the ability to increase productivity, incomes and the availability of goods.  While we talk often about how the increased supply and choice of goods that come from international trade benefit our consumers, we sometimes forget that this also benefits our producers. 
    “In fact, a majority of what we import each year is reinvested into more manufacturing, processing and farming activity.  Efficient and reliable supply chains help American businesses, farmers and workers expand their production and focus their resources on the high-value aspects of an industry.
    “The issue we must be wary about is when supply chains turn unreliable, in particular because they are controlled by countries that refuse to follow free-market rules, such as China.  As we are all aware, China continues its march toward expanding control over key resources and goods, and thus over the world’s supply chains.   
    “For example, advanced semiconductors increasingly rely on the rare earths mineral dysprosium.  Ninety-nine percent of dysprosium comes from China. 
    “This is not an isolated case where China has dominance over a strategic resource.  China controls over ninety percent of global processing for rare earths minerals and seventy percent for cobalt, which is used in batteries for electric cars, smartphones and other components.
    “The way China uses trade and investment to expand its control over resources outside its own borders is particularly concerning.  Indonesia has 40 percent of the world’s reserves for nickel, the largest of any single country.  Yet, Chinese firms control about 75 percent of Indonesia’s nickel refining capacity. 
    “We need to take a hard look at the reality of our situation and develop an aggressive strategy to counter China. 
    “Our domestic policies are at fault in some instances.  There are things we can produce efficiently here, but burdensome and unnecessary regulation stalls development of many important projects. 
    “We should not have to learn from another economic shock, like the oil embargo of the 1970s—to realize that where we have resources or potential for investment, it must be unleashed. 
    “Both sides of the aisle agree that we need a strong semiconductor industry.  In Asia, new semiconductor fabs are being built and deployed in under three years. 
    “In the United States, the semiconductor industry—one of the safest manufacturing sectors for workers—must contend with a myriad of permitting measures that provide only marginal, if any, benefit.  These permits, however, guarantee increased delays and costs, often adding years to projects. 
    “As part of its economic policy, the Trump Administration has prioritized deregulation as a means to drive economic growth, and I look forward to working with them to rationalize our regulatory system.  
    “In many other cases, geography and geology do not provide the United States with all the natural resources that we require.  Here, the fault rests mainly with the failure to develop an affirmative trade policy.  An affirmative trade policy ensures our consumers and manufacturers have access to the resources that our nation needs to be secure and independent. 
    “Here, for example, the Trump Administration was correct to exempt Canadian potash—a key nutrient for our corn and soy farmers, from recent tariffs.
    “Another key to the Administration’s economic approach is to renegotiate global trade deals, including deals that reclaim America’s lead over China.
    “Critically, these deals will be particularly useful in strengthening supply chains, if they improve market access opportunities.  Our trading partners must respect American investment and afford it the same treatment given to their own companies. 
    “Our partners must also realize that it bolsters their security when they do not inhibit access to cutting-edge American technology, like our state-of-the-art medical devices. 
    “Unfortunately, a number of trading partners use price controls, technology theft, weak intellectual property protections or unreasonable government procurement policies to keep these devices out of their markets.  Such actions only undermine the health of their own citizens, while leaving a strategic opening for China.
    “Today, we have an opportunity to consider these issues carefully.  Our four witnesses are experts on industries critical to America’s economic security.  We should encourage thoughtful debate on how to advance a trade policy that strengthens the security of our supply chains and creates opportunities for all Americans.”

    MIL OSI USA News –

  • MIL-OSI USA: Governor Stein Announces Additional 330 New Jobs Coming to Wayne County Production Facility

    Source: US State of North Carolina

    Headline: Governor Stein Announces Additional 330 New Jobs Coming to Wayne County Production Facility

    Governor Stein Announces Additional 330 New Jobs Coming to Wayne County Production Facility
    lsaito

    Raleigh, NC

    Today Governor Josh Stein joined business leaders and local officials to announce a major expansion for Prolec-GE Waukesha, Inc., one of the nation’s largest manufacturers of power transformers. The company will add 330 new jobs as it invests $140 million to build a second manufacturing facility in Goldsboro.

    “Prolec GE’s expansion in North Carolina further solidifies the state as a manufacturing powerhouse across all sectors,” said Governor Josh Stein. “Our strong economy and world-class workforce continue to give businesses the confidence to keep investing in North Carolina. We’re excited about Prolec GE’s commitment to Wayne County.”

    Prolec GE Waukesha is a subsidiary of GE Prolec Transformers, Inc., a U.S. joint venture between Xignux and GE Vernova, and is headquartered in Waukesha, Wisconsin. Prolec GE Waukesha engineers, manufactures, installs, and services high-quality power transformers for investor-owned utilities, co-ops, municipalities, renewable project developers, data centers and other industrial sites. The company will build a new state-of-the-art manufacturing plant at its existing site to support the growing demand for power grid capacity in the United States. With new, sophisticated equipment, this expansion will double the Goldsboro facility’s current production volume of medium power transformers.

    “It is essential for government, industry, and community leaders to collaborate early and frequently to drive growth in the manufacturing sector,” said Juan Ignacio Garza Herrera, Xignux CEO and Prolec GE Chairman. “This $140M investment reflects our long-term commitment to creating sustainable value for North America’s energy market and our pride in energizing life and society to contribute to a better world. Our collaboration with the state of North Carolina, Wayne County, and our joint venture partner, GE Vernova, will be instrumental in helping us turn this commitment into something tangible that will benefit our customers and all those that rely on the country’s power grid.” 

    “It’s not a coincidence that another energy company is deepening its roots in North Carolina,” said Commerce Secretary Lee Lilley. “Prolec GE’s expansion is a vote of confidence in our workforce training efforts, infrastructure improvements, and recruitment tools that are attracting growing companies to every corner of the state.”

    While salaries for the new positions will vary, the average annual salary is expected to be $71,912, which exceeds the Wayne County average of $46,211. These new jobs could create a potential annual payroll impact of more than $23.7 million to the local economy.

    Prolec GE’s operation in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $1.05 billion. Using a formula that takes into account the new tax revenues generated by the new jobs and capital investment, the JDIG agreement authorizes the potential reimbursement to the company of up to $4,696,000, spread over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets.

    The project’s projected return on investment of public dollars is 106 percent, meaning for every dollar of potential cost to the state, the state receives $2.06 in state revenue. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.

    “On behalf of Wayne County, we welcome Prolec GE’s expansion. The new jobs and the investment into our county will bring economic growth and stability to Eastern NC,” said Senator Buck Newton. “The people of Wayne County will continue to support this company as it grows to its full potential insuring the equipment necessary to provide reliable energy is made in America. I am looking forward to witness the benefits this project will bring.”

    “Announcements like these happen through collaboration,” said Representative John R. Bell, IV. “With the partnership and diligence of our state and local officials, as well as the economic developers, we’re able to inject another surge of energy into our regional economy through Prolec GE’s expansion.”

    In addition to the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in this project include the North Carolina General Assembly, the North Carolina Community College System, Wayne Community College, North Carolina Global TransPark Economic Development Region, Wayne County, Wayne County Development Alliance, North Carolina’s Southeast, and Duke Energy. 

    May 14, 2025

    MIL OSI USA News –

  • MIL-OSI Security: Columbia Sex Offender Charged with Child Pornography Offense

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    JEFFERSON CITY, Mo. – A Columbia, Mo., man has been indicted in federal court for transportation and possession of child pornography.

    Andrew Charles Nicholls, 38, previously charged by complaint, was indicted by a federal grand jury on May 13, 2025.  The indictment alleges that Nicholls, who has a prior conviction for child molestation in the second degree, transported and possessed child pornography images and videos depicting pre-pubescent children engaging in sexually explicit conduct using TOR, a dark web browser intended to conceal one’s online activities.   

    The charges contained in this indictment are simply accusations, and not evidence of guilt. Evidence supporting the charges must be presented to a federal trial jury, whose duty is to determine guilt or innocence.

    Under federal statutes, if convicted, Nicholls faces federal prison sentence of up to 40 years to be served without parole. The maximum statutory sentence is prescribed by Congress and is provided here for informational purposes, as the sentencing of the defendant will be determined by the court based on the advisory sentencing guidelines and other statutory factors. A sentencing hearing will be scheduled after the completion of a presentence investigation by the United States Probation Office.

    This case is being prosecuted by Assistant U.S. Attorney Ashley Turner. It was investigated by the Boone County Sheriff’s Cyber Crime Task Force with assistance from the FBI.

    Project Safe Childhood

    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 individuals who sexually exploit children, and to identify and rescue victims. For more information about Project Safe Childhood, please visit www.usdoj.gov/psc . For more information about Internet safety education, please visit www.usdoj.gov/psc and click on the tab “resources.”

    MIL Security OSI –

  • MIL-OSI Africa: Africa’s Oil Frontiers Urged to Accelerate Development at Invest in African Energy (IAE) 2025

    Source: Africa Press Organisation – English (2) – Report:

    PARIS, France, May 14, 2025/APO Group/ —

    African oil and gas markets must act swiftly to turn exploration wins into production success if they hope to emulate the rapid energy transformation seen in Guyana. This was the consensus from panelists speaking on the Exploring New Territories: Technology Innovation in African E&P panel at the Invest in African Energy Forum in Paris on Tuesday.

    “My advice to Namibia is to capture the moment and do whatever you can to support companies, in terms of an enabling environment, to develop and produce. Great exploration success is nothing if it’s not produced,” said Gil Holzman, CEO of Eco (Atlantic) Oil & Gas.

    Eco (Atlantic) has been active in Namibia since 2009 and currently holds four blocks in the Walvis Basin, along with Block 3B/4B in the Orange Basin, where it plans to drill a first exploration well by the end of this year or early 2026 with its joint venture partners. Last year, the company also acquired a 75% operating stake in Block 1 in the Orange Basin.

    Referencing Guyana’s path to production, where over 13 billion barrels have been discovered and output is expected to reach one million barrels per day by 2026, Holzman noted: “Proximity to the U.S. and the fact that Guyana didn’t have existing infrastructure opened the door for international companies to set the tone – in line with PSCs – to bring in technology and expertise.”

    Drawing clear parallels between international success stories and emerging opportunities in Africa, Jean-Marc Kloss, Managing Director for West Africa at SLB, emphasized the role of global collaboration and talent mobility in accelerating project timelines.

    “Fast-tracking development in Africa is possible,” he said. “From exploration to discovery to drilling, there is a lot of learning, technology and people that we have brought in from Guyana. We are in a global environment.”

    He pointed to Brazil and Nigeria to underscore Africa’s untapped potential and the need for greater project sanctioning. “Brazil has 30 deepwater rigs – Nigeria has one. Brazil has 54 FPSOs – Nigeria has 14. There is huge potential, unbelievable resources in Africa,” Kloss said. “There has been no sanction of a deepwater project in years – the first one was the $5 billion [UTM FLNG facility] last year.”

    Arthur Ename, Vice President, Global Accounts, Africa at NOV, emphasized the difference between drilling success and actual resource monetization.

    “It’s one thing to drill – it’s another to produce the reserve that is underground. Eni did extremely well with [the Baleine project in Ivory Coast] by bringing infrastructure in-country that allowed them to start production very fast.”

    Moderated by Justin Cochrane, Director of African Regional Research at S&P Global Commodity Insights, the panel made clear that while Africa has entered a promising new chapter in exploration, translating that promise into value will depend on swift regulatory decisions, infrastructure planning and technology transfer.

    MIL OSI Africa –

  • MIL-OSI Africa: TotalEnergies’ Mike Sangster Talks Multi-Energy Strategy at Invest in African Energy (IAE) 2025

    Source: Africa Press Organisation – English (2) – Report:

    PARIS, France, May 14, 2025/APO Group/ —

    Mike Sangster, Senior Vice President for Africa at TotalEnergies, outlined the company’s multi-energy strategy in Africa at the Invest in African Energy (IAE) 2025 Forum in Paris. Speaking during a one-on-one conversation with America Hernandez, Energy Correspondent at Reuters, Sangster said that the company is committed to producing more energy in a sustainable manner.

    In the oil sector, TotalEnergies continues to invest in established markets such as the Republic of Congo and Angola as well as in emerging markets such as Namibia, Uganda and South Africa. According to Sangster, TotalEnergies’ African portfolio constitutes half of the company’s operated production globally. “The largest part of our exploration budget is also in Africa,” he said.

    In South Africa, the company hopes to start drilling in 2026. The company is currently awaiting the requisite permits. In Namibia, the company is spearheading efforts to produce first oil by 2029 through its Venus project. A field development plan is currently underway, with plans to make a final investment decision by Q4, 2026. Given the complexity of the deepwater project, Venus will target oil production.

    “The site is extremely remote, 300 km offshore and at a depth of 1,900 m,” Sangster said, highlighting that much of the associated gas discovered would need to be reinjected.

    Monetizing Africa’s natural gas resources through LNG deployment and flare reduction represents a core part of TotalEnergies’ African strategy. “Part of our growth target is focused on LNG,” Sangster stated, adding that “we finished routine flaring in Nigeria, Gabon and Angola. In the Republic of Congo, we will eliminate flaring this year.”

    In Nigeria, TotalEnergies is ramping up gas investments to support both local energy needs and exports. “It’s important to monetize gas and its reservoirs,” Sangster noted. “In Nigeria, there are significant reserves and we are actively developing this sector. There are high-quality fields that can also serve export markets.”

    Beyond oil and gas investments, TotalEnergies’ broader energy strategy includes the development of renewable energy projects. Sangster reiterated TotalEnergies’ rebranding from an oil major to a multi-energy company, stating that “It makes sense to expand integrated energy activities. We have invested in renewables, green hydrogen and even mining in Africa. The future of our industry is integrated energy combined with new technologies to meet growing demand sustainably.”  

    Meanwhile, TotalEnergies is committed to supporting capacity building across the markets in which it operates. Sangster explained that through projects such as Tilenga, TotalEnergies “has generated around 20,000 direct jobs in Uganda and Tanzania. We are also training 200 local people. These are high-paying jobs that will be there for the next 20 years.”

    In Nigeria, TotalEnergies works closely with local educational institutions to transfer skills and enhance capacity building. “In Nigeria, we have the Petroleum Institute, and we’re fully committed to developing [capacity] in the country,” Sangster said. These initiatives not only support the development of projects, but create tangible opportunities for local communities. 

    MIL OSI Africa –