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Category: Finance

  • MIL-OSI: Barnwell Industries, Inc. Disqualifies Ned Sherwood’s Board Nominees Included in Defective and Insufficient Nomination Notice for 2025 Annual Meeting

    Source: GlobeNewswire (MIL-OSI)

    Sets March 14, 2025, as Record Date for Shareholders to Act by Written Consent in Connection with Sherwood’s Latest Self-Serving Campaign to Take Control of Barnwell

    Sherwood’s Consent Solicitation is Yet Another Attempt to Steal the Company from Shareholders Without Paying a Premium for Control

    HONOLULU, March 05, 2025 (GLOBE NEWSWIRE) — Barnwell Industries, Inc. (NYSE American: BRN) (“Barnwell” or the “Company”) today announced that the Executive Committee of the Barnwell Board of Directors has disqualified the controlling slate of director nominees submitted by one of its shareholders, Ned Sherwood, in connection with 2025 Annual Meeting of Shareholders.

    As previously disclosed on February 25, 2025, the Executive Committee informed Sherwood that it rejected his nomination notice because it was defective and insufficient as it failed to include material information required by both the Company’s bylaws and federal securities regulations.

    Barnwell Sets Record Date for Sherwood’s Consent Solicitation

    Sherwood Continues to Seek Control of Barnwell with NO PLAN Other than to
    Take Control of the Company

    Sherwood is now aggressively pursuing shareholder approval to replace the entire Barnwell Board of Directors. This is yet another attempt by Sherwood to seize control of Barnwell at the expense of its public shareholders, without offering any premium for control. Moreover, despite repeated requests from the Company over several months, Sherwood has failed to present any alternative strategy for the Company, and after many months, his so-called plan is still forthcoming.

    Furthermore, Sherwood is now attempting to oust his own nominee, Doug Woodrum, a current Barnwell Board member, who was part of Sherwood’s slate for the upcoming 2025 Annual Meeting. Notably absent from Sherwood’s Consent Solicitation is another previously chosen nominee, Sherwood’s Chief Investment Officer, Ben Pierson, who was secretly buying Barnwell shares throughout 2024 while Sherwood was party to a Cooperation Agreement with the Company.

    Sherwood’s latest attempt to replace the entire Barnwell Board with his slate of hand-picked nominees continues his long history of disrupting the Company’s governance processes and interfering with the Company’s operations, while creating significant expense to the Company. Indeed, the Executive Committee has sought several times to avoid the cost and distraction of Sherwood’s actions, including a recent settlement offer whereby five of seven directors would be individuals expressly approved by Sherwood who would then become Chairman of the Board. However, Sherwood’s sole interest appears to be to have 100% control of the Board.

    Barnwell shareholders of record as of the close of business on March 14, 2025, are eligible to execute, withhold and revoke written consents. Barnwell expects to file preliminary consent revocation materials with the Securities and Exchange Commission (the “SEC”) in response to the preliminary consent solicitation statement filed by Sherwood on March 4, 2025.

    The Barnwell Executive Committee Comprises Majority Independent and
    Highly Experienced Directors Acting on Behalf of All Shareholders

    As Barnwell has disclosed, the current Board was expressly approved by Sherwood under a 2023 settlement whereby the Company and Sherwood each designated two directors. At that time, a fifth director, Joshua Horowitz, was selected as a compromise board member and was vetted by Sherwood and expressly endorsed by both parties to the settlement agreement.

    The Company also separately announced today that it has entered into a non-binding letter of intent to sell its water well subsidiary, as part of its ongoing plan to refocus on its core oil and gas exploration business and reduce general and administrative expenses, all of which actions have been previously endorsed by Sherwood.

    The Barnwell Executive Committee will continue to take actions that it believes represent the best interest of ALL Barnwell shareholders.

    The Company also announced that it expects to hold its uncontested 2025 Annual Meeting of Shareholders in its fiscal third quarter (second calendar quarter) of 2025. The record date and meeting date for the 2025 Annual Meeting have not yet been set.

    Forward-Looking Statements

    The information contained in this press release contains “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. A forward-looking statement is one which is based on current expectations of future events or conditions and does not relate to historical or current facts. These statements include various estimates, forecasts, projections of Barnwell’s future performance, statements of Barnwell’s plans and objectives, and other similar statements. Forward-looking statements include phrases such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “predicts,” “estimates,” “assumes,” “projects,” “may,” “will,” “will be,” “should,” or similar expressions. Although Barnwell believes that its current expectations are based on reasonable assumptions, it cannot assure that the expectations contained in such forward-looking statements will be achieved. Forward-looking statements involve risks, uncertainties and assumptions which could cause actual results to differ materially from those contained in such statements. The risks, uncertainties and other factors that might cause actual results to differ materially from Barnwell’s expectations are set forth in the “Forward-Looking Statements,” “Risk Factors” and other sections of Barnwell’s annual report on Form 10-K for the last fiscal year and Barnwell’s other filings with the Securities and Exchange Commission. Investors should not place undue reliance on the forward-looking statements contained in this press release, as they speak only as of the date of this press release, and Barnwell expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein.

    Important Additional Information and Where to Find It

    Barnwell Industries, Inc. (the “Company”) plans to file proxy materials with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for the Company’s 2025 annual meeting of stockholders (the “2025 Annual Meeting”) and plans to file a consent revocation statement in connection with the Sherwood Group’s consent statement which, among other things, seeks to remove and replace the current members of the Board of Directors of the Company. Prior to the 2025 Annual Meeting, the Company will file a definitive proxy statement (the “Proxy Statement”) together with a WHITE proxy card. The Company will also file a definitive revocation statement (the “Revocation Statement”) together with a WHITE revocation card. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND THE REVOCATION STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE COMPANY WILL FILE WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders will be able to obtain, free of charge, copies of the Proxy Statement, the Revocation Statement and any amendments or supplements thereto and any other documents (including the WHITE proxy card and WHITE revocation card) when filed by the Company with the SEC at the SEC’s website (http://www.sec.gov) or at the Company’s website at https://ir.brninc.com/ or by contacting Alexander Kinzler, Secretary and General Counsel of the Company, by phone at (808) 531-8400, by email at akinzler@brninc.com or by mail at Barnwell Industries, Inc., 1100 Alakea Street, Suite 500, Honolulu, Hawaii 96813.

    Certain Information Regarding Participants

    The Company, its directors and certain of its executive officers and other employees may be deemed to be “participants” (as defined in Section 14(a) of the Securities Exchange Act of 1934, as amended) in the solicitation of proxies from stockholders in connection with the 2025 Annual Meeting. Additional information regarding the identity of these potential participants and their direct or indirect interests, by security holdings or otherwise, will be set forth in the Proxy Statement and other materials to be filed with the SEC in connection with the 2025 Annual Meeting. Information relating to the foregoing can also be found in the Company’s definitive proxy statement for its 2024 annual meeting of stockholders, filed with the SEC on April 2, 2024. To the extent holdings of such participants in the Company’s securities have changed since the amounts described in the Proxy Statement, such changes have been reflected on Statements of Change in Ownership on Form 3 and Form 4 filed with the SEC: Form 3, filed by Craig Hopkins, with the filings of the Company on May 16, 2024; Form 4, filed by Craig Hopkins, with the filings of the Company on May 20, 2024, August 29, 2024, January 13, 2025 and January 17, 2025; Form 4, filed by Joshua Horowitz, with the filings of the Company on August 23, 2024 and October 28, 2024; Form 4, filed by Kenneth Grossman, with the filings of the Company on October 28, 2024; and Form 4, filed by Douglas Woodrum, with the filings of the Company on October 28, 2024. These filings can be found at the SEC’s website at www.sec.gov. More detailed and updated information regarding the identity of potential participants, and their direct or indirect interests (by security holdings or otherwise), will be set forth in the proxy statement and other materials to be filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

    CONTACTS:                         

    Investors:
    Bruce Goldfarb / Chuck Garske
    (212) 297-0720
    info@okapipartners.com

    Kenneth S. Grossman
    Vice Chairman of the Board of Directors
    Email: kensgrossman@gmail.com                

    The MIL Network –

  • MIL-OSI Europe: New EU programme launched with banking sector to support women entrepreneurs across Europe

    Source: European Investment Bank

    EIB

    • EIB and European Commission launch first-ever “Gender Finance Lab for commercial banks” under the InvestEU Advisory Hub
    • So far 25 European banks committed to joining new masterclass programme to boost funding for women entrepreneurs
    • Launch takes place on the margins of the EIB Group Forum

    The European Investment Bank and the European Commission have launched today a first of its kind advisory programme aimed at helping EU commercial banks improve access to finance for women-owned and women-led SMEs in Europe.

    Women make up a third of Europe’s entrepreneurs and yet many of them face major financial barriers.

    The InvestEU Gender Finance Lab, developed by the EIB Group with funding from the InvestEU Advisory Hub, aims to support financial intermediaries, including commercial banks and fund managers. 

    A tailored masterclass programme is being launched to seize the opportunity of increasing investments in female entrepreneurs. It will help banks leverage the investment opportunities presented by women entrepreneurs, create more innovative and relevant financial products, and share good practice among fellow financial institutions to better serve women entrepreneurs and bridge the gender finance gap.

    Research shows women-led and -owned businesses exhibit lower risk profiles, higher repayment rates, and greater customer loyalty. They also thrive in management, innovation, and environmental, social, and corporate governance (ESG). Globally, the women’s market represents a significant $700 billion global revenue opportunity. Beyond the business case, helping commercial banks close the gender finance gap will also address the potential economic impact of women-owned and women-led businesses.

    EIB President Nadia Calviño said: “Partnering to nurture Europe’s potential is at the heart of what the EIB Group is doing here alongside the European Commission and our partners in Europe’s banking sector. Investing in women entrepreneurs is not only the right thing to do, but also the smart thing to do; driving growth, prosperity, and stability across the European economy.”

    The Gender-Smart Finance Master Class will be delivered as an eLearning programme. Its first cohort will start in March 2025, bringing together representatives from EU commercial banks, including practitioners on SME business, product development, business strategy and Environmental, Social and Governance professionals. A second session is foreseen in Autumn 2025.

    The programme will include live webinars, interactive discussions, and access to a virtual knowledge hub.

    Key components of the programme include:

    • Exploring the market potential of women-owned and women-led SMEs and their contributions to economic growth.
    • Designing gender-responsive financial and non-financial products and services.
    • Implementing gender-smart data analysis, result measurements, and reporting mechanisms.
    • Staying informed about global gender finance initiatives such as Gender lens investing with the EIB Group, including the 2X Criteria as a global standard for gender-lens investing.
    • Enhancing professional networks, building connections and gaining insights from distinguished professionals and experts in gender-smart SME banking

    This Programme is financed by the EIB InvestEU Advisory Hub Gender Finance Lab and free of charge for participating institutions. Managed by the European Commission and funded by the EU, the InvestEU Advisory Hub connects project promoters with advisory partners, with the European Investment Bank Group as the main advisory partner under InvestEU.

    For more information, please contact genderfinancelab@eib.org 

    Background information:

    EIB Group

    The EIB Group is the financing institution of the European Union owned by its Member States. It supports investment contributing toward EU policy goals, including sustainable growth, social and territorial cohesion, innovation and security. It finances its operations in global capital markets and has been consistently profitable in its operations since its inception. The EIB Group is the pioneer and one of the largest issuers of green bonds, while all of its operations are aligned with the Paris Climate Agreement.

    The EIB Group signed nearly €89 billion in new financing for over 900 projects in 2024. These commitments are expected to mobilise around €350 billion in investment, supporting 400 000 companies and 5.8 million jobs.  

    To enhance the positive impact of its activities on gender equality and empower women and girls, the EIB Group adopted a Strategy on Gender Equality and Women’s Economic Empowerment and a Gender Action Plan, with the aim of embedding gender equality and in particular women’s economic empowerment in the EIB’s business model. It covers its lending, blending and advisory work within and outside the European Union. The EIB Group is also committed to driving gender equality in the workplace.

    InvestEU

    The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery and growth. It helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. InvestEU has three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that invest in projects using the EU budget guarantee worth €26.2 billion. That guarantee will back investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

    New EU programme launched with banking sector to support women entrepreneurs across Europe
    New EU programme launched with banking sector to support women entrepreneurs across Europe
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    European Commission logo EN
    European Commission logo
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    MIL OSI Europe News –

  • MIL-OSI Europe: Spain: EIB and CBNK launch pioneering initiative to support women entrepreneurs in the pharmacy sector

    Source: European Investment Bank

    • The EIB is set to invest €150 million in the European Union’s first intermediated financing programme aimed exclusively at women. It will provide a loan to CBNK, the bank for key engineering and health professionals formed by the merger of Banco Caminos and Bancofar.
    • The operation is focused on supporting women who want to set up or grow businesses in the pharmacy sector, potentially involving 600 pharmacies across the country.

    The European Investment Bank (EIB) and CBNK, a Spanish bank serving key professionals and formed through the merger of Banco Caminos and Bancofar, have announced a landmark initiative to empower women entrepreneurs in the pharmacy sector in Spain. The operation, signed today during the EIB Group Forum in Luxembourg, is the EIB’s first intermediated loan within the European Union exclusively supporting women entrepreneurs.

    It will involve access to loans averaging €450 000 that can be used by women entrepreneurs to finance the formation of their business (purchase of licences), working capital (inventory) or equipment such as counters, shelves or computers.

    This €150 million EIB investment – implemented through the purchase of a covered bond issued by CBNK and rated Aa1 by Moody’s – aims to improve access to finance for women-owned or led small and medium enterprises (SMEs), including self-employed professionals.

    Despite making up a majority of the workforce in the pharmacy sector, women continue to face barriers such as limited access to finance, wage gaps and underrepresentation in leadership positions. This operation seeks to address these challenges by providing tailored financial support to women entrepreneurs and business leaders, enabling them to scale their businesses and contribute to Spain’s economic growth.

    “This operation represents a significant milestone in our commitment to the strong European values of gender equality and inclusive economic growth. By supporting women entrepreneurs in the pharmacy sector, we are unlocking opportunities and strengthening the Spanish healthcare system.” “Investing in female leadership is not just the right thing to do – it is the smartest thing to do. The evidence is clear: Gender equality leads to better decisions and better economic outcomes, and drives progress, stability and prosperity,” said EIB President Nadia Calviño.

    CBNK CEO Enrique Serra González said: “This operation expands CBNK’s commitment to the healthcare sector and women’s entrepreneurship, and is intended to be the starting point of an ongoing intermediation partnership with the EIB.”

    The signature of this operation will also open the conference launching the Gender Finance Lab commercial bank advisory programme. Launched by the EIB and funded by the European Commission under the InvestEU Advisory Hub mandate, the programme is a pioneering initiative to create a community of commercial banks committed to boosting women’s entrepreneurship and contributing to inclusive economic growth in the European Union.

    Background information

    EIB

    The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security. All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation and adaptation, and a healthier environment.

    In Spain, the EIB Group signed new financing worth €12.3 billion for over 100 high impact projects in 2024, contributing to the country’s green and digital transition, economic growth, competitiveness and better services for its people.

    To enhance the positive impact of its activities on gender equality and empower women and girls, the EIB Group adopted a Strategy on Gender Equality and Women’s Economic Empowerment and a Gender Action Plan, with the aim of embedding gender equality and in particular women’s economic empowerment in the EIB’s business model. It covers its lending, blending and advisory work within and outside the European Union. The EIB Group is also committed to driving gender equality in the workplace.

    CBNK

    CBNK is one of Spain’s largest specialised banking financial groups. In 2014, Banco Caminos acquired Bancofar. Both entities had longstanding experience in serving professional collectives. Founded in 1977, Banco Caminos has always had connections with road, canal and port engineers, as well as other professional activities and associated sectors, while Bancofar was created in 1964, supporting pharmacy professionals since then. Caminos Group was formed in 2018.

    Bancofar was absorbed by Banco Caminos in 2023, with these two group entities changing their name to CBNK. This new brand was created to extend its value proposition to other collectives, with a focus on high social impact professionals specialising in its areas of expertise (engineering and healthcare).

    MIL OSI Europe News –

  • MIL-OSI: Tower Semiconductor to Showcase its Next-Generation BCD Technology at APEC 2025

    Source: GlobeNewswire (MIL-OSI)

    Presenting Advanced Power Management Solutions for Automotive, AI, Mobile, and Data Center Applications 

    MIGDAL HAEMEK, Israel, March 5, 2025 – Tower Semiconductor (NASDAQ/TASE: TSEM), a leading foundry of high-value analog semiconductor solutions, today announced its participation in the upcoming 2025 Applied Power Electronics Conference (APEC), taking place March 17–19 in Atlanta, Georgia. The Company will highlight its cutting-edge power management technology platform with its high-efficiency power conversion capabilities including the latest 300mm 65nm 3.3V-based BCD solution, designed to meet the growing demands of Automotive, AI, Mobile PMIC, and Data Center power delivery.

    Tower’s industry-leading 0.18μm (200mm) and 65nm (300mm) Bipolar-CMOS-DMOS (BCD) platforms drive innovation across a broad range of applications, including driver ICs, battery management, portable power solutions, PC power control, and high-voltage gate drivers. With its recently announced 3.3V gate oxide technology offering 3.3V and 5V-based solutions as well as a comprehensive suite of design enablement tools, Tower continues to set new benchmarks in power efficiency, enabling next-generation solutions for a variety of high-demand sectors.

    Presentation schedule:
    Tower Semiconductor’s BCD Technology Foundry Offerings: From Automotive to Datacenter Power
    By Dr. Mete Erturk, Sr. Director, Power Management Marketing
    Date: March 19, 2025
    Time: 12:45 PM – 1:15 PM
    Location: A312

    To meet with Tower’s engineering team at APEC 2025, visit booth #1148.

    For more information on Tower’s Power Management solutions, visit here.

    About Tower Semiconductor         

    Tower Semiconductor Ltd. (NASDAQ/TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, provides technology, development, and process platforms for its customers in growing markets such as consumer, industrial, automotive, mobile, infrastructure, medical and aerospace and defense. Tower Semiconductor focuses on creating a positive and sustainable impact on the world through long-term partnerships and its advanced and innovative analog technology offering, comprised of a broad range of customizable process platforms such as SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, non-imaging sensors, displays, integrated power management (BCD and 700V), photonics, and MEMS. Tower Semiconductor also provides world-class design enablement for a quick and accurate design cycle as well as process transfer services including development, transfer, and optimization, to IDMs and fabless companies. To provide multi-fab sourcing and extended capacity for its customers, Tower Semiconductor owns one operating facility in Israel (200mm), two in the U.S. (200mm), two in Japan (200mm and 300mm) which it owns through its 51% holdings in TPSCo, shares a 300mm facility in Agrate, Italy with STMicroelectronics as well as has access to a 300mm capacity corridor in Intel’s New Mexico factory. For more information, please visit: www.towersemi.com.

    Safe Harbor Regarding Forward-Looking Statements
    This press release includes forward-looking statements, which are subject to risks and uncertainties. Actual results may vary from those projected or implied by such forward-looking statements. A complete discussion of risks and uncertainties that may affect the accuracy of forward-looking statements included in this press release or which may otherwise affect Tower’s business is included under the heading “Risk Factors” in Tower’s most recent filings on Forms 20-F, F-3, F-4 and 6-K, as were filed with the Securities and Exchange Commission (the “SEC”) and the Israel Securities Authority. Tower does not intend to update, and expressly disclaim any obligation to update, the information contained in this release. 

    ###

    Tower Semiconductor Company Contact: Orit Shahar | +972-74-7377440 | oritsha@towersemi.com

    Investor Relations Contact: Liat Avraham | +972-4-6506154 | liatavra@towersemi.com

    Attachment

    The MIL Network –

  • MIL-OSI: Barnwell Industries, Inc. Announces Entering into a Non-Binding Letter of Intent for the Sale of its Water Well Drilling Subsidiary

    Source: GlobeNewswire (MIL-OSI)

    HONOLULU, March 05, 2025 (GLOBE NEWSWIRE) — Barnwell Industries, Inc. (NYSE American: BRN) (“Barnwell” or the “Company”) today announced that it had entered into a non-binding letter of intent for the sale of Water Resources International, Inc., its water well drilling subsidiary. The Company anticipates that the transaction, for an expected aggregate value of $1,050,000, would close in late March 2025. A portion of the consideration would be paid at the closing and the remainder would be paid in installments, with the last installment payable on September 15, 2025, before the end of the Company’s current fiscal year.

    Mr. Craig D. Hopkins, CEO of Barnwell, commented “We are pleased to be working on a transaction that would allow us to refocus the Company on our core oil and gas exploration business. The Company has owned WRI since 1980 and the timing is right for us to end our tenure of water well drilling in Hawaii.”

    Forward-Looking Statements

    The information contained in this press release contains “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. A forward-looking statement is one which is based on current expectations of future events or conditions and does not relate to historical or current facts. These statements include various estimates, forecasts, projections of Barnwell’s future performance, statements of Barnwell’s plans and objectives, and other similar statements. Forward-looking statements include phrases such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “predicts,” “estimates,” “assumes,” “projects,” “may,” “will,” “will be,” “should,” or similar expressions. Although Barnwell believes that its current expectations are based on reasonable assumptions, it cannot assure that the expectations contained in such forward-looking statements will be achieved. Forward-looking statements involve risks, uncertainties and assumptions which could cause actual results to differ materially from those contained in such statements. The risks, uncertainties and other factors that might cause actual results to differ materially from Barnwell’s expectations are set forth in the “Forward-Looking Statements,” “Risk Factors” and other sections of Barnwell’s annual report on Form 10-K for the last fiscal year and Barnwell’s other filings with the Securities and Exchange Commission. Investors should not place undue reliance on the forward-looking statements contained in this press release, as they speak only as of the date of this press release, and Barnwell expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein.

    CONTACT:   Craig D. Hopkins
        Chief Executive Officer and President
        Phone: (403) 531-1560
        Email: info@bocl.ca

    The MIL Network –

  • MIL-OSI United Kingdom: Community organisations invited to submit Expressions of Interests for Community Regeneration Funding

    Source: Scotland – Highland Council

    The Highland Council is inviting community groups and organisations to submit Expressions of Interest for Community Regeneration Funding (CRF) to finance capital projects that will respond to the needs of their local areas and deliver positive impacts.  

    Community Regeneration Funding is an umbrella term being used to cover multiple community-led external funding programmes being administered by the Highland Council.  This includes the Highland Coastal Communities Fund, Place-Based Investment Programme and Community-Led Local Development funds.

    The deadline to submit an Expression of Interest is 12pm Friday 28 March and the projects must be community-led.

    Chair of The Highland Council’s Economy and Infrastructure Committee, Cllr Ken Gowans said: “This first round of CRF has specific criteria in which applicants can bid into, and projects must be concluded and claimed by the end of February next year. We are encouraging shovel ready capital projects that will support community development to come forward and submit an Expression of Interest before the deadline of 28 March.

    “The demand for funding year on year highlights the huge effort from the community and the third sector in striving to achieve positive outcomes for local communities so I encourage anyone interest to get their expressions of interest submitted to the team by the deadline.”

     Applications that deliver against the following priorities are particularly sought:

    • Projects that support volunteers/volunteering initiatives
    • Projects that build capacity in community groups
    • Projects that promote or raise awareness of existing initiatives to support groups or individuals with the cost-of-living crisis
    • Projects that create jobs or build economic growth in an area
    • Projects that are actively tackling the climate emergency and working towards net zero

    Applicants are reminded that this first round of CRF is for capital only projects.  Project approvals are anticipated to be announced in April/May (pending confirmation of funds availability from Scottish Government) and applicants must be in a position to start from May 2025 and concluded and claimed no later than 28/02/2026.

    Applicants can apply for up to 100% project costs however they must demonstrate that there is a need for this level of intervention and that match funding options have been explored. 

    It is generally expected that funding requests should be a minimum of £5,000, and a maximum of £100,000.  Applicants should apply for the amount that is required for their project to be delivered. 

    Expressions of Interest should be submitted by 12pm Friday 28 March and a copy of the form can be found on the Council’s website where further information about the scheme is provided

    5 Mar 2025

    MIL OSI United Kingdom –

  • MIL-OSI Economics: RBI appoints Dr. Ajit Ratnakar Joshi as new Executive Director

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has appointed Dr. Ajit Ratnakar Joshi as Executive Director (ED) with effect from March 03, 2025.

    Prior to being promoted as ED, Dr. Joshi was serving as Principal Adviser in Department of Statistics and Information Management.

    Dr. Joshi has experience of over three decades in the areas of statistics, information technology, and cyber risk management. He also served as member of faculty at the Institute of Development and Research in Banking Technology, Hyderabad. He has also served as member of several committees and working groups relating to compilation of macroeconomic statistics and policy issues.

    As Executive Director, Dr. Joshi will look after Department of Statistics and Information Management and Financial Stability Department.

    Dr. Joshi has a master’s degree in statistics from Nagpur University, Ph.D. in monetary economics from the Indian Institute of Technology Madras, Diploma in Development Policy and Planning from the Institute of Economic Growth, Delhi and is a certified associate of the Indian Institute of Banking and Finance (CAIIB).

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2302

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Open letter to Co-op about land agreements restricting competition

    Source: United Kingdom – Executive Government & Departments

    Correspondence

    Open letter to Co-op about land agreements restricting competition

    The Competition and Market Authority (CMA) has published a letter to Co-operative Group Limited concerning 107 breaches of the Groceries Market Investigation (Controlled Land) Order 2010.

    Documents

    Open letter to Co-op

    PDF, 191 KB, 2 pages

    List of affected locations

    PDF, 118 KB, 3 pages

    Details

    At the CMA’s request, Co-operative Group Limited (Co-op) has reviewed all of its land agreements. The CMA has found that these agreements were not compliant with the Groceries Market Investigation (Controlled Land) Order 2010 on 107 occasions. 

    Co-op has taken, and continues to take, steps to correct these breaches and the CMA has published a letter sent to Co-op following its investigation of these breaches. The CMA has also published a list of the locations affected by these breaches. 

    For more information, visit Groceries Market Investigation (Controlled Land) Order 2010.

    Updates to this page

    Published 5 March 2025

    Sign up for emails or print this page

    MIL OSI United Kingdom –

  • MIL-OSI: 21 Shares AG (the “Company”) – Announcement regarding changes to the board of Directors of the Company

    Source: GlobeNewswire (MIL-OSI)

    21 Shares AG (the “Company”) – Announcement regarding changes to the board of Directors of the Company
     
    We are pleased to announce the following changes to the board of Directors of the Company  effective as of 1 March 2025
    * The appointment of Russell Barlow as chairman of the board of directors and Chief Executive Officer (“CEO”);
    * The appointment of Duncan Moir as a member of the board of directors and President. 
    * The appointment of Edel Bashir as a member of the board of directors and Chief Operating Officer (“COO”).

    Russell Barlow, 51, is contributing more than 25 years of expertise in regulated asset management. Previously, Russell was the Global Head of Multi Asset and Alternative Investment Solutions and Global Head of Alternatives at abrdn. Over the course of his career, he has designed, launched, and managed a wide range of investment products. Additionally, Russell has held a position as a Non-Executive Director at Archax, the UK’s first FCA-regulated digital asset exchange.

    Duncan Moir, 39, has deep expertise in crypto and blockchain strategy. Previously, Duncan was a Senior Investment Manager at abrdn. He is an independent board member of Hedera Hashgraph LLC and an advisor to Web3 companies. A University of Strathclyde graduate with a BA (Hons) in Economics, he is also a CFA and CAIA charterholder.

    Edel Bashir, 45, has over 20 years of experience in asset management. Previously, Edel was the COO of Multi Asset and Alternative Investment Solutions, COO of Alternatives and a Senior Investment Manager at abrdn. Her expertise includes operational strategy, portfolio management, and hedge fund research. A graduate of University College Cork, Ireland, with a BSc in Finance, she has held senior roles across Bermuda, Dublin, and Boston.

    Following the appointment of the aforementioned people as members of the board of directors, Hany Rashwan (former chairman of the board of directors and CEO) and Ophelia Snyder (former member of the board of directors and Chief Product Officer) resigned from their roles as directors of the Company on 1 March 2025, at which point the above mentioned individuals will assume responsibility for the aforementioned roles.

    Name, registered office and address of the Company:
    21Shares AG is a stock corporation under the laws of Switzerland. It has its registered office and address at Pelikanstrasse 37, 8001 Zurich.

    Contact Details:
    21Shares AG, attn. Mr. Eric Baumgartner, Pelikanstrasse 37, 8001 Zurich, Switzerland, email: legal@21.co
     
    Further Information:
    For further information, please refer to the Programme documentation, in particular the EU Base Prospectus dated November 28, 2024, the UK Base Prospectus dated May 22, 2024 , and the respective Final Terms as applicable. This Announcement neither constitutes a prospectus nor advertisement within the meaning of the Swiss Financial Services Act. Copies of the prospectus and any supplements thereto, if any, as well as copies of all transaction documents are available free of charge at 21Shares AG, Zurich (email: etp@21shares.com).

    Date of publication:
    5 March 2025
     
    * * *
    This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG.
    This document and the information contained herein is not for publication or distribution into the United States of America and should not be distributed or otherwise transmitted into the United States or to U.S. persons (as defined in the U.S. Securities Act of 1933, as amended (the “Securities Act) or publications with a general circulation in the United States. This document does not constitute an offer or invitation to subscribe for or to purchase any securities in the United States of America. The securities referred to herein have not been and will not be registered under the Securities Act or the laws of any state and may not be offered or sold in the United States of America absent registration or an exemption from registration under Securities Act. There will be no public offering of the securities in the United States of America.
     
    The products are exchange traded products, which do not qualify as units of a collective investment scheme according to the relevant provisions of the Swiss Federal Act on Collective Investment Schemes (CISA), as amended, and are not licensed thereunder. Therefore, the products are neither governed by the CISA nor supervised or approved by the Swiss Financial Market Supervisory Authority FINMA (FINMA). Accordingly, Investors do not have the benefit of the specific investor protection provided under the CISA.

    The MIL Network –

  • MIL-OSI: MEXC Launches Roam (ROAM) with Spot and Futures Trading, Offering 76,000 ROAM & 66,000 USDT to Drive Decentralized Connectivity

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles , March 05, 2025 (GLOBE NEWSWIRE) — MEXC, the world’s leading cryptocurrency trading platform, announced the listing of the Roam (ROAM) on both spot and futures markets, scheduled for March 6, 2025, at 10:00 (UTC). The launch on MEXC will be accompanied by Airdrop+ rewards of 76,000 ROAM & 66,000 USDT.

    Unleashing Roam: MEXC Supports the Future of Decentralized Connectivity and Blockchain-Powered WiFi

    Roam is redefining internet connectivity by merging blockchain technology with decentralized networking. Designed as a global WiFi network, Roam enables seamless roaming across locations while prioritizing security, privacy, and user incentives. Every connection and check-in within the network earns users rewards, fostering an ecosystem of engaged participants. At its core, Roam leverages OpenRoaming protocols and enterprise-grade components to provide a secure, high-quality internet experience. With the introduction of Roam Miner, users can further benefit from crypto mining, while Roam Tokens facilitate staking and rewards, integrating financial incentives with real-world connectivity.

    By listing Roam, MEXC underscores the growing synergy between blockchain, decentralized infrastructure, and real-world applications. With deep liquidity, seamless market access, and dedicated trading support, MEXC provides the ideal platform for Roam to expand adoption and drive the future of decentralized internet access.

    Celebrate the ROAM Launch with a prize pool of 76,000 ROAM & 66,000 USDT

    MEXC continues its commitment to supporting innovative blockchain projects with the listing of Roam (ROAM). The ROAM/USDT spot trading market will go live in the Innovation Zone on March 6, 2025, at 10:00 (UTC), followed by the launch of ROAM USDT perpetual futures at 10:10 (UTC), offering up to 50x leverage in both cross and isolated margin modes.

    To celebrate the official listing of $ROAM on MEXC, a 76,000 ROAM & 66,000 USDT reward pool will be available through a series of exclusive activities starting March 5, 2025, at 10:00 (UTC). Participants, both new and experienced, will have the opportunity to engage with Roam, explore its potential, and win ROAM, USDT bonuses, and other exciting rewards while contributing to the future of blockchain-powered connectivity.

    These activities include:
    Event 1: Deposit to Share 64,000 ROAM & 16,000 USDT (New User Exclusive).
    Event 2: Futures Challenge — Trade to Share 50,000 USDT in Futures Bonuses.
    The top 2,000 users with trading volumes over 20,000 USDT will share the reward pool, with individual rewards of up to 5,000 USDT.
    Event 3: Invite New Users and Share 12,000 ROAM.
    Event 4: Spread the Word and Win 2,000 ROAM in Bonus.

    Your Easiest Way to Trending Tokens

    MEXC aims to become the go-to platform offering the widest range of valuable crypto assets. The platform has grown its user base to 32 million by offering a diverse selection of tokens, high-frequency airdrops, competitive fees, and comprehensive liquidity. In 2024, MEXC launched a total of 2,376 new tokens, including 1,716 initial listings and 605 memecoins, with total airdrop rewards exceeding $136 million.

    About MEXC

    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 32 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
    MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

    Contact:
    Lucia Hu
    PR Manager
    lucia.hu@mexc.com

    Disclaimer: This content is provided by MEXC. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f7c5199a-8138-4512-92d3-f33f4979eced

    The MIL Network –

  • MIL-OSI: KE Holdings Inc. to Report Fourth Quarter and Fiscal Year 2024 Financial Results on March 18, 2025 Eastern Time

    Source: GlobeNewswire (MIL-OSI)

    BEIJING, March 05, 2025 (GLOBE NEWSWIRE) — KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE; HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, today announced that it will report its unaudited financial results for the fourth quarter and fiscal year 2024 before the U.S. market opens on Tuesday, March 18, 2025.

    The Company’s management will hold an earnings conference call at 8:00 A.M. Eastern Time on Tuesday, March 18, 2025 (8:00 P.M. Beijing Time on Tuesday, March 18, 2025).

    For participants who wish to join the conference using dial-in numbers, please complete online registration using the link provided below at least 20 minutes prior to the scheduled call start time. Dial-in numbers, passcode and unique access PIN would be provided upon registering.

    Participant Online Registration:

    English Line: https://s1.c-conf.com/diamondpass/10045435-su5md1.html

    Chinese Simultaneous Interpretation Line (listen-only mode): https://s1.c-conf.com/diamondpass/10045436-c4n72s.html

    A replay of the conference call will be accessible through March 25, 2025, by dialing the following numbers:

    United States: +1-855-883-1031
    Mainland, China: 400-1209-216
    Hong Kong, China: 800-930-639
    International: +61-7-3107-6325
    Replay PIN (English line): 10045435
    Replay PIN (Chinese simultaneous interpretation line): 10045436
       

    A live and archived webcast of the conference call will also be available at the Company’s investor relations website at https://investors.ke.com.

    About KE Holdings Inc.

    KE Holdings Inc. is a leading integrated online and offline platform for housing transactions and services. The Company is a pioneer in building infrastructure and standards to reinvent how service providers and customers efficiently navigate and complete housing transactions and services in China, ranging from existing and new home sales, home rentals, to home renovation and furnishing, and other services. The Company owns and operates Lianjia, China’s leading real estate brokerage brand and an integral part of its Beike platform. With more than 23 years of operating experience through Lianjia since its inception in 2001, the Company believes the success and proven track record of Lianjia pave the way for it to build its infrastructure and standards and drive the rapid and sustainable growth of Beike.

    For more information, please visit: https://investors.ke.com

    For investor and media inquiries, please contact:

    In China:
    KE Holdings Inc.
    Investor Relations
    Siting Li
    E-mail: ir@ke.com

    Piacente Financial Communications
    Jenny Cai
    Tel: +86-10-6508-0677
    E-mail: ke@tpg-ir.com

    In the United States:
    Piacente Financial Communications
    Brandi Piacente
    Tel: +1-212-481-2050
    E-mail: ke@tpg-ir.com

    The MIL Network –

  • MIL-OSI Africa: TotalEnergies’ Mike Sangster to Headline Invest in African Energy Forum in Paris

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

    PARIS, France, March 5, 2025/APO Group/ —

    Mike Sangster, Senior Vice President for Africa at TotalEnergies, will deliver a keynote address at the Invest in African Energy (IAE) Forum in Paris this May. Sangster will also participate in an exclusive fireside chat, offering critical insights into the company’s vision for Africa’s energy future, its ongoing projects and the evolving role of oil and gas in the continent’s energy mix.

    TotalEnergies continues to drive oil and gas development across Africa, with a strong focus on both emerging and mature markets. In Namibia, the company is advancing its Venus-1 discovery, targeting first oil by the decade’s end, with an FID expected in early 2026 for a development producing 150,000 barrels per day. TotalEnergies is also exploring additional prospects in the Orange Basin, having recently drilled the Marula-1X and Tabmoti-1X wells. In the Republic of Congo, the company is investing $600 million to expand deepwater production at the Moho Nord field, while in Libya, it plans to complete an onshore exploration project and lead new drilling campaigns in the Waha and Sharara fields in 2025.

    IAE 2025 (www.Invest-Africa-Energy.com) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

    Meanwhile, TotalEnergies is expanding its gas processing and midstream infrastructure across Africa, strengthening its role in the continent’s evolving energy landscape. In Mozambique, the company is progressing with the Mozambique LNG project, a $20 billion development expected to secure renewed financial backing from export credit agencies. I Uganda, TotalEnergies is gearing up for first oil from its Tilenga field in 2025, with crude transported via the East African Crude Oil Pipeline (EACOP). Once operational, EACOP will be the longest heated crude oil pipeline globally, significantly enhancing East Africa’s ability to monetize its hydrocarbon resources and attract further investment into the region’s energy sector.

    TotalEnergies is also expanding its renewable energy footprint in Africa through strategic investments in solar, wind, hydropower and green hydrogen. The company is advancing its 500 MW Sadada solar project in Libya and acquired Scatec’s hydropower portfolio on the continent in July 2024, including the 250 MW Bujagali Hydropower Plant in Uganda and stakes in projects in Malawi, Rwanda and the DRC. In South Africa, TotalEnergies is constructing a 216 MW solar plant with battery storage, along with a 140 MW wind farm and a 120 MW solar facility, set to supply green electricity to Sasol’s industrial operations. In Morocco, the company is developing the Chbika project, a 1 GW wind and solar farm designed to produce 200,000 metric tons of green ammonia annually for export to Europe. These initiatives align with TotalEnergies’ strategy to integrate renewables into its portfolio while supporting Africa’s energy transition.

    Sangster’s participation at IAE 2025 comes at a pivotal time for Africa’s energy sector, as investors and policymakers navigate a shifting global energy landscape. His keynote address and fireside chat will provide valuable perspectives on the role of private investment in African energy, strategies for unlocking new upstream opportunities and how TotalEnergies is adapting to the continent’s long-term energy needs.

    MIL OSI Africa –

  • MIL-OSI: Form 8.5 (EPT/RI) – Aquis Exchange plc

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.5 (EPT/RI)

    PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY
    Rule 8.5 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)        Name of exempt principal trader: Investec Bank plc
    (b)        Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 Aquis Exchange plc
    (c)        Name of the party to the offer with which exempt principal trader is connected: Investec are Joint Financial Adviser, Joint Broker and NOMAD for Aquis Exchange plc
    (d)        Date dealing undertaken: 04th March 2025
    (e)        In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to this offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        DEALINGS BY THE EXEMPT PRINCIPAL TRADER

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchases/ sales Total number of securities Highest price per unit paid/received Lowest price per unit paid/received

    Ordinary Shares

    Purchase

    25,000

    700

    700

    Ordinary Shares

    Sales

    25,000

    700

    700

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    N/A N/A N/A N/A N/A

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    N/A N/A N/A N/A N/A N/A N/A N/A

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit
    N/A N/A N/A N/A N/A

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    N/A N/A N/A N/A

    3.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    None

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to:
    (i)        the voting rights of any relevant securities under any option; or
    (ii)        the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”
    None
    Date of disclosure: 05thMarch 2025
    Contact name: Abhishek Gawde
    Telephone number: +91-9923757332

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s dealing disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI United Kingdom: Further breakthrough in using mine water to provide green heat

    Source: United Kingdom – Executive Government & Departments

    Press release

    Further breakthrough in using mine water to provide green heat

    Construction has begun on a major mine water heat project in Seaham that uses a mine water treatment scheme to provide low-carbon heating to affordable homes.

    Work starts at the Seaham Energy Centre.

    Construction has officially begun on a landmark large-scale mine water heat project, building on our ongoing efforts to harness geothermal heat from disused coal mines.

    By utilising water already being pumped to the surface, this project marks a crucial step forward in expanding renewable heat solutions across former coalfield areas.

    The Energy Centre, being built next to the Mining Remediation Authority’s Dawdon mine water treatment scheme in County Durham, will tap into the mine water already being treated there.

    The mine treatment scheme will now provide heat for a new housing development as well as protecting a vital drinking water source.

    Seaham Garden Village is a new mixed-use sustainable community located to the south of Seaham, comprising 1,500 homes, a new primary school, village centre and innovation hubs.

    The mine water heating will provide power to 750 of the homes on the development, delivered by northern housing association Karbon Homes, in partnership with Esh Group.

    The district heat network project has been led by Durham County Council, with the Mining Remediation Authority spearheading the development of the mine water heating initiative.

    Multiple organisations have been involved including Karbon Homes, which is now set to provide 750 affordable homes on the site and has led the way in adopting the mine water heat technology.

    Vital Energi has been appointed to design, build and operate the low-carbon system, and will run the district heat network for the next 40 years.

    The project has benefited from a grant from the Government’s Heat Networks Investment Project which has enabled the project to be delivered. 

    Seaham Garden Village will offer a thriving, sustainable new community on Durham’s heritage coast and play a vital role in local growth.

    The state-of-the-art Energy Centre will capture the geothermal heat from the warm mine water, which remains at a stable underground temperature.

    This heat will be upgraded to domestic heating levels via a heat pump, delivering low-cost and low-carbon heat to new Karbon homes.

    Graphic detailing how the Seaham Garden Village Mine Water Heat scheme will work.

    Richard Bond, innovation and services director at the Mining Remediation Authority, said:

    This scheme is a further milestone in our journey to harness mine water heat to provide sustainable heating solutions across the former coalfields. 

    There is huge potential to utilise our GB-wide water treatment facilities where warm mine water is already being pumped to the surface, and we’re progressing opportunities in multiple regions.

    The mine water heat scheme at Dawdon paves the way demonstrating a further route for mine water to provide low-carbon heat, building on the success of schemes in Gateshead and at Lanchester Wines.

    The Dawdon scheme began treating mine water in 2009 and the Mining Remediation Authority has been researching the possibility of ‘bolting on’ the heat feature to these treatment sites as part of their pioneering work in the geothermal arena.

    This new development follows the success of the Gateshead scheme, the UK’s first large-scale mine water heat network, which began providing heat to homes and businesses in March 2023, as well as another pioneering privately funded scheme nearby at Lanchester Wines warehouses.

    Unlike Seaham Garden Village, the Gateshead projects used boreholes, which were drilled up to 150 metres underground to tap into water in disused mines.

    Mr Bond added:

    With more than 80 mine water treatment schemes across the UK, we see great potential to deliver dual-purpose facilities that protect water supplies and generate renewable heat.

    Whether accessing mine water heat via our treatment schemes or boreholes, the Mining Remediation Authority are proud to offer innovative ways to reduce carbon emissions by repurposing the amazing UK coal-mining heritage.

    Councillor Mark Wilkes, Durham County Council’s cabinet member for neighbourhoods and climate change, said:

    We are delighted to have started work on what will be the UK’s first large-scale mine water heat project that uses a mine water treatment scheme, right here in County Durham.

    This innovative project will have significant environmental benefits – making use of currently untapped heat to keep houses warm, and potentially a school and innovation hubs, and in doing so avoiding the need to use non-renewable sources of energy.

    The affordable properties will also provide a welcome boost to county residents looking to get on the housing ladder, while the prospect of more homes, a school and innovation hubs in the future will attract people looking for somewhere to live, families and those seeking work.

    A lot of planning has gone into this in recent years involving a number of organisations and it’s therefore really exciting to have all the necessary agreements in place and work starting on the ground.

    Paul Fiddaman, chief executive at Karbon Homes, said:

    Our involvement in the delivery of Seaham Garden Village shows our commitment to investing in the area, working with our delivery partner Esh Group to build new affordable homes that help meet local housing need.

    With further commitments to ensuring the homes we build are of the highest quality and energy efficiency, it’s fantastic to partner with Durham County Council and the Mining Remediation Authority to connect our homes to this innovative low carbon heat system, one of the first of its kind in the country.

    Paired with boasting a range of energy efficiency technologies, like solar PV panels, these homes will be well on the way to net zero.

    The new homes from Karbon are part-funded by Homes England through the housing association’s strategic partnership with the government’s housing delivery agency, which has provided Karbon with £165 million in funding, to deliver 2,200 new affordable homes across the North East and Yorkshire over the next few years.

    For media enquiries contact the community response team

    Email communityresponse@miningremediation.gov.uk

    Telephone 0800 288 4211

    For emergency media enquiries (out of hours) call: 0800 288 4242.
    Only urgent media calls will be attended to.

    Updates to this page

    Published 4 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Tata Electronics, Himax Technologies and Powerchip Semiconductor Manufacturing Corporation Form Alliance to Revolutionize India’s Display and Ultralow Power AI Sensing Product and Technology Ecosystem

    Source: GlobeNewswire (MIL-OSI)

    TAINAN and HSINCHU, Taiwan and MUMBAI, India, March 05, 2025 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (“Himax” or “Company”) (Nasdaq: HIMX), an industry leader in fabless display driver ICs and other semiconductor products, today announced a Memorandum of Understanding (MoU) with Tata Electronics, a pioneering leader in India’s electronics manufacturing sector, and Powerchip Semiconductor Manufacturing Corporation (PSMC), a leading Taiwanese Foundry and Technology Transfer Partner of Tata Electronics, to revolutionize India’s display and ultralow power AI sensing product and technology ecosystem. This MoU marks a significant step forward for Tata Electronics, Himax, and PSMC in expanding their market outreach and jointly exploring the growing market of display semiconductors and ultralow power AI sensing in India as well as globally.

    Tata Electronics, Himax, and PSMC aim to leverage their respective strengths to deliver comprehensive, end-to-end display semiconductor solutions for their mutual customers, from chip design to chip manufacturing and packaging, as well as electronics manufacturing services (EMS) to deliver system-level solutions, to both the Indian and global markets. The parties will collaborate closely to develop solutions focusing on “Made in India” requirements. The partnership also encompasses designing and manufacturing next-generation solutions to meet global demand while enhancing supply chain resilience.

    Building on the landmark 2024 agreement between Tata Electronics and PSMC to establish advanced semiconductor manufacturing capabilities in India, today’s announcement paves the way for innovative display solutions tailored to the domestic market.

    Dr Randhir Thakur, CEO and MD of Tata Electronics, said, “This MoU with Himax and PSMC will enable the development of differentiated solutions for display-related semiconductor products for our mutual customers. By combining Tata Electronics’ capabilities with Himax’s unparalleled expertise in display semiconductors and WiseEye™ ultralow power AI sensing and PSMC’s proven manufacturing solutions, we are creating a powerful ecosystem that addresses both domestic and global needs for the display semiconductor market. Together, we will drive innovation and develop next-generation technologies to meet the growing demands of display and ultralow power AI sensing technologies across key industries while contributing to a resilient semiconductor supply chain.”

    Mr. Jordan Wu, Co-Founder and CEO of Himax Technologies, Inc., said, “We are delighted to join forces with Tata Electronics and PSMC to drive innovation in India’s rapidly expanding display semiconductor market. India is emerging as a key hub for electronics development and manufacturing, presenting immense opportunities for growth and technological advancement. Through this collaboration, we aim to bring Himax’s industry-leading expertise in display semiconductors and WiseEye™ ultralow power AI sensing to support India’s ‘Made in India’ initiative while enhancing global supply chain resilience. This partnership underscores our commitment to delivering cutting-edge display solutions that cater to the evolving needs of both Indian and international markets.” 

    Mr. Martin Chu, President of PSMC, said, “PSMC’s portfolio of semiconductor fabrication technologies is well-suited to meet the growing ‘Made in India’ requirements. We look forward to this partnership with Tata Electronics and Himax, as it provides a unique opportunity to expand our collective footprint and gain significant share in both the domestic and global display semiconductors and ultralow power AI sensing markets.”

    About Tata Electronics Private Limited
    Tata Electronics Pvt. Ltd. is a prominent global player in the electronics manufacturing industry, with fast-emerging capabilities in Electronics Manufacturing Services, Semiconductor Assembly & Test, Semiconductor Foundry, and Design Services. Established in 2020 as a greenfield venture of the Tata Group, the company aims to serve global customers through integrated offerings across a trusted electronics and semiconductor value chain. With a rapidly growing workforce, the company currently employs over 65,000 people and has significant operations in Gujarat, Assam, Tamil Nadu, and Karnataka, India. Tata Electronics is committed to creating a socio-economic footprint by employing many women in its workforce and actively supporting local communities through initiatives in environment, education, healthcare, sports and livelihood.

    About Powerchip Semiconductor Manufacturing Corporation
    Powerchip Semiconductor Manufacturing Corporation (PSMC) is the world’s seventh-largest pure-play foundry, with four 12-inch and two 8-inch fabs in Taiwan, capable of producing over 2.1 million 12-inch equivalent wafers annually. Since its establishment in 1994, the company transitioned successfully from DRAM manufacturing to advanced foundry services for memory and logic chips. Ranked seventh in global semiconductor ESG evaluations, PSMC demonstrates strong governance and environmental commitment. In May 2024, PSMC’s new 12-inch fab in Taiwan’s Tongluo Science Park began operations with a planned capacity of 1.2 million wafers annually, using advanced 28nm and wafer stacking technologies.

    About Himax Technologies, Inc.
    Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEye™ ultralow power AI sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,649 patents granted and 402 patents pending approval worldwide as of December 31, 2024.

    http://www.himax.com.tw

    Forward Looking Statements
    Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2023 filed with the SEC, as may be amended.

    Himax Contacts

    Eric Li, Chief IR/PR Officer
    Himax Technologies, Inc.
    Tel: +886-6-505-0880
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw
      
    Karen Tiao, Investor Relations
    Himax Technologies, Inc.
    Tel: +886-2-2370-3999
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

    Mark Schwalenberg, Director
    Investor Relations – US Representative
    MZ North America
    Tel: +1-312-261-6430
    Email: HIMX@mzgroup.us
    www.mzgroup.us

    The MIL Network –

  • MIL-OSI Russia: A traffic police complex will be built in TiNAO

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    The city has provided a land plot in Troitsk to a developer for the construction of a complex for the capital’s traffic police department. This was reported by the Minister of the Moscow Government, Head of the Department of City Property Maxim Gaman.

    “A complex for the State Road Safety Inspectorate will be built in the Troitsk district. It will include an administrative building with an area of about two thousand square meters, parking lots, as well as areas for inspecting vehicles and conducting practical exams. The city has allocated 4.2 hectares of land for the construction of the facility within the framework of the capital’s Targeted Investment Program,” said Maxim Gaman.

    The complex will be built at the address: Troitsk district, 180th quarter, land plot No. 3a. Its total area will be known after the development and approval of the design documentation.

    According to the technical specifications, in addition to the administrative building for the traffic police officers, a checkpoint and heated garage boxes are planned to be located on the territory. There will also be places for inspecting trucks and buses (with an area of at least 3.4 thousand square meters), other vehicles (with a canopy and overpass, with an area of at least 1.2 thousand square meters), an area for taking a practical driving test for all categories (with an area of at least 2.5 thousand square meters). In addition, a parking lot for visitors for 130 cars will be arranged.

    In Moscow, large urban development projects are being implemented using budget funds. All of them are included in the Targeted Investment Program. To build these facilities, the capital’s Department of City Property selects and allocates land plots to developers.

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

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

    https: //vv.mos.ru/nevs/ite/150938073/

    MIL OSI Russia News –

  • MIL-OSI Russia: Innovative schools to open in central Moscow

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    Five schools of the future will be built in the center of the capital by the end of 2028. They will be built as part of the Targeted Investment Program in the Presnensky, Meshchansky, Basmanny and Tagansky districts. This was reported by Anastasia Rakova, Deputy Mayor of Moscow for Social Development.

    “We are creating an innovative educational environment in the city – from infrastructure to modern teaching methods. Along with the modernization of existing schools, the city is building new facilities. Thus, the Mayor of Moscow made an unprecedented decision to build five new large educational complexes in the Central District of the capital, each of which will accommodate more than a thousand children. This is a modern, most innovative educational space,” said Anastasia Rakova.

    In the capital, much attention is paid to the creation of social infrastructure.

    “Since 2011, over a thousand social facilities have been built in Moscow, most of which are educational facilities. The city continues to develop its educational infrastructure. Thus, five innovative schools will appear in the Central Administrative District, where the educational process will be accompanied by modern technologies and an individual approach to each student. Currently, architectural and urban planning solutions are being developed, and after their approval, specialists will begin designing innovative schools,” said Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.

    Modern standards and natural materials

    The new schools will be designed to meet modern standards. The spaces will be flexible: furniture can be easily moved, creating areas for individual or group study.

    The walls between the corridors and classrooms can be transformed into display cases for exhibiting works. Separate spaces with furniture adapted to their age are provided for primary school students, and modern laboratories and media libraries are provided for high school students, where they can prepare for exams or complete assignments. There will be cozy work areas and creative zones.

    Special attention will be paid to safety and convenience. Distribution of student flows will help to avoid overcrowding. The inner courtyard will be landscaped using modern solutions. For the convenience of parents, quick parking will be organized where children can be dropped off.

    Modernization of schools

    Last year, 18 new schools opened in Moscow, and at the same time, the largest modernization project in the history of the capital began to be implemented “My school”. Work has already been completed in four buildings. Over 50 buildings will be modernized for the new academic year, and over one thousand buildings will be built and renovated in the next seven years.

    Such decisions were made in accordance with the priorities approved by the Mayor of Moscow. development of metropolitan education. In addition, an additional 46 billion rubles have been allocated for the Moscow education system. In particular, this money will be used to increase funding for schools and introduce a single standard for grades 5-9 and 10-11. Measures will also be taken in the capital to develop mathematical and natural science education. In addition, the number of budget places in colleges will increase.

    Providing schools with modern high-tech equipment helps to optimize the educational process and meets the objectives of the project “All the best for children” of the national project “Youth and Children”.

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

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

    https: //vv.mos.ru/nevs/ite/150903073/

    MIL OSI Russia News –

  • MIL-OSI: Bitget Lists Mint Blockchain (MINT) in the Innovation and Public Chain Zone

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, March 05, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of Mint Blockchain (MINT), a Layer2 blockchain focusing on the NFT ecosystem. Trading for MINT/USDT will commence on 7 March 2025, 08:00 (UTC)

    Mint Blockchain is built on the OP Stack, positioning it as a native Layer2 solution and a core member of the Optimism Superchain. As a visionary force propelling the NFT industry into a new era, Mint Blockchain’s vision is to connect global consumers with NFTs and build a decentralized network focused on NFT issuance, trading, and settlement, making NFTs the most unrestricted value carrier in the crypto world. The Mint team is actively developing a comprehensive suite of open-source infrastructure around NFT assets on Mint Blockchain, including NIPs Platform, Mint Studio, IP Layer, Mint Liquid, and NFT-AI Agent.

    The Mint mainnet was launched in May 2024, marking the beginning of its ecosystem development phase. With lower gas fees, diverse NFT standards, and a developer-friendly environment, the Mint ecosystem currently has more than 100 applications and more than 6 million wallet addresses on the chain.

    The inclusion of MINT on Bitget’s platform is expected to offer users a new opportunity to explore the most standout project promoting and driving innovation in NFT standards. This listing further strengthens Bitget’s position as a platform for innovative digital assets, enabling users to explore new opportunities in an evolving market.

    Bitget has consistently expanded its market share in both spot and derivatives trading among centralized exchanges. With a focus on providing users with opportunities to invest in different projects, the platform is now one of the top 5 crypto trading platforms with over 900 assets, including tokens from ecosystems such as TON, Ethereum, Solana, Base, and more.

    For more information on Mint Blockchain (MINT), users can visit here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.
    Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    Contact

    Simran Alphonso
    media@bitget.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3388787a-402d-4726-9dad-9b323d8e96f7

    The MIL Network –

  • MIL-OSI: DNO Participates in Mistral Discovery; Eyes Quick Tieback

    Source: GlobeNewswire (MIL-OSI)

    Oslo, 5 March 2025 – DNO ASA, the Norwegian oil and gas operator, today confirmed a gas/condensate discovery on the Mistral prospect in the Norwegian Sea license PL1119 in which the Company’s wholly-owned subsidiary DNO Norge AS recently acquired a 10 percent interest.

    The well encountered a 45-meter hydrocarbon column with good reservoir properties in the Garn Formation. Preliminary estimates of gross recoverable resources encountered are in the range of 19-44 million barrels of oil equivalent. In addition to DNO, license partners include Equinor Energy AS (50 percent and operator), OKEA ASA and Pandion Energy AS (20 percent each).

    Located some 20 kilometers southwest of Equinor’s ongoing Lavrans subsea development, the Mistral discovery is a candidate for a fast-track tieback to this field. Given the good reservoir properties, the discovery likely allows for simplified development solutions.

    To diversify its exploration portfolio, DNO entered into the Mistral license through a swap agreement with OKEA announced on 19 December 2024, shortly before spud date of the discovery well. In exchange, OKEA picked up a 10 percent interest in North Sea license PL1109 containing the Horatio prospect, in which DNO has retained a 20 percent interest. Exploration drilling is ongoing at Horatio. The DNO-OKEA transaction is subject to government approval.

    Further south, DNO is currently drilling its Kjøttkake exploration well in North Sea license PL1182S in which the Company holds a 40 percent operated stake.

    – 

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

    – 

    DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d’Ivoire, Netherlands and Yemen.

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

    The MIL Network –

  • MIL-OSI: Hunters Announces New AI Capabilities with Pathfinder AI for Smarter SOC Automation

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, March 05, 2025 (GLOBE NEWSWIRE) — Pathfinder AI expands Hunters’ vision for AI-driven SOCs, introducing Agentic AI for autonomous investigation and response.

    Hunters, the leader in next-generation SIEM, today announced Pathfinder AI, a major step toward a more AI-driven SOC. Building on Copilot AI, which is already transforming SOC workflows with LLM-powered investigation guidance, Hunters is introducing its Agentic AI vision, designed to autonomously enhance detection, investigation, and response. Agentic AI will launch soon, with ongoing innovations to further streamline security operations.

    “Hunters has already made a significant impact on our security operations by reducing manual investigations, streamlining data ingestion, and improving threat visibility. With Pathfinder AI, we’re enhancing efficiency and response times through AI-driven detection explanations and automated investigative guidance. This innovation continues to strengthen Emburse’s security posture with cutting-edge AI-powered threat intelligence.” — Casey Sword, Endpoint Security Architect, Emburse

    How AI is Shaping the Future of Security Operations
    Security investigations are complex and unpredictable—each alert triggers multiple investigative steps, creating an overwhelming number of possible paths. Traditional automation follows rigid workflows, often leaving analysts stuck chasing false leads while real threats slip through.

    AI changes the equation. Unlike static rule-based automation, Agentic AI dynamically adapts, prioritizing critical threats, filtering out noise, and continuously refining investigations to keep security teams focused and efficient.

    To stay ahead of evolving threats, SOCs need two key AI-driven capabilities:

    • Copilot AI – Enhances analyst workflows with automated data analysis, report generation, and guided investigations.
    • Agentic AI – Delivers autonomous threat detection, investigation, and response, reducing manual workloads and accelerating decision-making.

    By leveraging specialized AI agents that collaborate in real time, security teams can move beyond manual triage and fragmented investigations—operating faster, smarter, and with greater precision.

    Hunters Pathfinder AI
    From day one, Hunters was founded with the vision of embedding analyst intelligence into the SIEM—automating triage and investigation to maximize efficiency and accuracy. With years of experience refining AI-driven security operations, they are uniquely positioned to lead the AI-driven SOC transformation, leveraging the deep expertise to deliver automation at scale.

    As Hunters Pathfinder AI continues to evolve, they are expanding its capabilities in two key areas: AI-Assisted SOC and AI-Driven SOC. These advancements will further reduce manual workloads while enhancing detection, investigation, and response.

    AI-Assisted SOC with Copilot AI

    • Lead Summarization – AI-generated summaries that provide analysts with immediate and comprehensive context on security events.
    • Guided Investigation Workflows – Suggests next steps across the entire attack surface.
    • Natural Language Querying – Enables SOC analysts to interact with the system using conversational AI to retrieve insights efficiently.
    • Custom Detection Authoring – Helps analysts refine detections with guided logic and iterative fine-tuning.
    • Threat Classification – AI evaluates signals and context to determine whether a threat is benign or malicious, reducing manual triage time.

    AI-Driven SOC with Agentic AI

    • Autonomous Triage and Classification – AI-driven agents investigate every threat, classifying incidents and providing full investigation reports.
    • Self-Optimizing Detections – Machine learning models continuously refine detection accuracy based on real-world attack data.
    • Automated Root Cause Analysis – AI correlates attack signals across multiple sources to provide full attack narratives.

    “Pathfinder AI is a game-changer for SOC teams, allowing us to deliver on our promise of making security operations more effective in the fight against cyber threats. By combining Copilot AI and Agentic AI, we are not just automating tasks but enabling security teams to focus on what truly matters—stopping real threats before they cause harm.” — Ian Forrest, VP of Product, Hunters

    The Road Ahead
    Hunters remains committed to pushing the boundaries of SOC automation with AI-driven investigations, automated response mechanisms, and deeper AI capabilities. Pathfinder AI represents the next advancement toward a faster, smarter, and more effective security operations center and will be delivered in the upcoming months.

    For more details, users can explore Hunters’ blog post and join the webinar about this announcement on March 5th, 2025.

    About Hunters
    Hunters empowers SOC teams with AI-driven automation, maximizing efficiency without large security budgets. As a next-gen SIEM, the Hunters SOC Platform integrates Agentic AI, Copilot AI, machine learning, and graph-based correlation to automate detection, investigation, and response. Trusted by Cimpress, OpenLane, and The RealReal, Hunters delivers built-in detections, AI-driven investigations, and security expert support from Team Axon.

    For more information, users can visit Hunters Security.

    Contact

    Ada Filipek
    Hunters
    ada.filipek@hunters.ai

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b27f6b17-cae2-4bf3-bbd6-f90a6725c596

    The MIL Network –

  • MIL-OSI: ING completes share repurchase for employee compensation

    Source: GlobeNewswire (MIL-OSI)

    Corporate Communications

    Amsterdam, 5 March 2024

    ING completes share repurchase for employee compensation

    ING Group announced today that it has completed the share repurchase for employee compensation which started on 3 March 2023. The total number of shares repurchased under the programme is 3,674,043 ordinary shares at an average price of €17.44 for a total consideration of €64,08 million. The purpose of the share repurchase is to meet obligations under ING’s share-based compensation plans.

    For detailed information on the daily repurchased shares and individual share purchase transactions, see the ING website at https://www.ing.com/Investor-relations/Share-information/Share-buyback- programme.htm.

    Note for editors

    For further information on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom. Photos of ING operations, buildings and its executives are available for download at Flickr.

    Press enquiries        Investor enquiries
    Christoph Linke        ING Group Investor Relations
    +31 20 576 5000        +31 20 576 6396
    Christoph.Linke@ing.com        Investor.Relations@ing.com

    ING PROFILE
    ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank’s more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries.

    ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).

    ING aims to put sustainability at the heart of what we do. Our policies and actions are assessed by independent research and ratings providers, which give updates on them annually. ING’s ESG rating by MSCI was reconfirmed by MSCI as ‘AA’ in August 2024 for the fifth year. As of December 2023, in Sustainalytics’ view, ING’s management of ESG material risk is ‘Strong’. Our current ESG Risk Rating, is 17.2 (Low Risk). ING Group shares are also included in major sustainability and ESG index products of leading providers. Here are some examples: Euronext, STOXX, Morningstar and FTSE Russell. Society is transitioning to a low-carbon economy. So are our clients, and so is ING. We finance a lot of sustainable activities, but we still finance more that’s not. Follow our progress on ing.com/climate.

    IMPORTANT LEGAL INFORMATION
    Elements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/2014 (‘Market Abuse Regulation’).

    ING Group’s annual accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (‘IFRS- EU’). In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2023 ING Group consolidated annual accounts. The Financial statements for 2024 are in progress and may be subject to adjustments from subsequent events. All figures in this document are unaudited. Small differences are possible in the tables due to rounding.

    Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions and customer behaviour, in particular economic conditions in ING’s core markets, including changes affecting currency exchange rates and the regional and global economic impact of the invasion of Russia into Ukraine and related international response measures (2) changes affecting interest rate levels (3) any default of a major market participant and related market disruption (4) changes in performance of financial markets, including in Europe and developing markets

    (5) fiscal uncertainty in Europe and the United States (6) discontinuation of or changes in ‘benchmark’ indices (7) inflation and deflation in our principal markets (8) changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness (9) failures of banks falling under the scope of state compensation schemes (10) non- compliance with or changes in laws and regulations, including those concerning financial services, financial economic crimes and tax laws, and the interpretation and application thereof (11) geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, including in connection with the invasion of Russia into Ukraine and the related international response measures (12) legal and regulatory risks in certain countries with less developed legal and regulatory frameworks (13) prudential supervision and regulations, including in relation to stress tests and regulatory restrictions on dividends and distributions (also among members of the group) (14) ING’s ability to meet minimum capital and other prudential regulatory requirements (15) changes in regulation of US commodities and derivatives businesses of ING and its customers (16) application of bank recovery and resolution regimes, including write down and conversion powers in relation to our securities (17) outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers or stakeholders who feel misled or treated unfairly, and other conduct issues (18) changes in tax laws and regulations and risks of non-compliance or investigation in connection with tax laws, including FATCA (19) operational and IT risks, such as system disruptions or failures, breaches of security, cyber-attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business and including any risks as a result of incomplete, inaccurate, or otherwise flawed outputs from the algorithms and data sets utilized in artificial intelligence (20) risks and challenges related to cybercrime including the effects of cyberattacks and changes in legislation and regulation related to cybersecurity and data privacy, including such risks and challenges as a consequence of the use of emerging technologies, such as advanced forms of artificial intelligence and quantum computing (21) changes in general competitive factors, including ability to increase or maintain market share (22) inability to protect our intellectual property and infringement claims by third parties (23) inability of counterparties to meet financial obligations or ability to enforce rights against such counterparties (24) changes in credit ratings (25) business, operational, regulatory, reputation, transition and other risks and challenges in connection with climate change and ESG-related matters, including data gathering and reporting (26) inability to attract and retain key personnel (27) future liabilities under defined benefit retirement plans (28) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines (29) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations, and (30) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING’s more recent disclosures, including press releases, which are available on www.ING.com.

    This document may contain ESG-related material that has been prepared by ING on the basis of publicly available information, internally developed data and other third-party sources believed to be reliable. ING has not sought to independently verify information obtained from public and third-party sources and makes no representations or warranties as to accuracy, completeness, reasonableness or reliability of such information.

    Materiality, as used in the context of ESG, is distinct from, and should not be confused with, such term as defined in the Market Abuse Regulation or as defined for Securities and Exchange Commission (‘SEC’) reporting purposes. Any issues identified as material for purposes of ESG in this document are therefore not necessarily material as defined in the Market Abuse Regulation or for SEC reporting purposes. In addition, there is currently no single, globally recognized set of accepted definitions in assessing whether activities are “green” or “sustainable.” Without limiting any of the statements contained herein, we make no representation or warranty as to whether any of our securities constitutes a green or sustainable security or conforms to present or future investor expectations or objectives for green or sustainable investing. For information on characteristics of a security, use of proceeds, a description of applicable project(s) and/or any other relevant information, please reference the offering documents for such security.

    This document may contain inactive textual addresses to internet websites operated by us and third parties. Reference to such websites is made for information purposes only, and information found at such websites is not incorporated by reference into this document. ING does not make any representation or warranty with respect to the accuracy or completeness of, or take any responsibility for, any information found at any websites operated by third parties. ING specifically disclaims any liability with respect to any information found at websites operated by third parties. ING cannot guarantee that websites operated by third parties remain available following the publication of this document, or that any information found at such websites will not change following the filing of this document. Many of those factors are beyond ING’s control.

    Any forward-looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.

    This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States or any other jurisdiction.

    .

    Attachment

    The MIL Network –

  • MIL-OSI: Alm. Brand A/S – Launch of new share buyback programme in accordance with the ‘Safe Harbour’ rules

    Source: GlobeNewswire (MIL-OSI)

    Based on the divestment of Energy and Marine and a very strong solvency ratio, the Board of Directors of Alm. Brand A/S has resolved to exercise the authority to buy back treasury shares for a total amount of up to DKK 835.2 million. The authority to buy back treasury shares was granted at the company’s annual general meeting held on 18 April 2024 for share buybacks of up to 10% of the share capital in the period until 30 April 2025. The completion of the maximum share buyback is subject to a resolution to renew the authority to buy back shares being adopted at the company’s annual general meeting to be held on 10 April 2025.

    Purpose
    The purpose of the share buyback is to reduce the share capital. At a general meeting in Alm. Brand A/S, a resolution to cancel the shares bought through the programme will be proposed.

    Timeline
    The share buyback programme runs from 5 March 2025 until 30 March 2026 at the latest, both days included. During this period, Alm. Brand A/S will acquire treasury shares for a total amount of up to DKK 835.2 million in accordance with article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 (MAR) and Commission Delegated Regulation (EU) 2016/1052, which together with MAR constitutes the ‘Safe Harbour’ rules.

    Terms of the share buyback

    • Alm. Brand A/S is required to appoint a lead manager to make trading decisions independently of and without any influence from Alm. Brand A/S and to make the buybacks within the limits announced. Alm. Brand A/S has appointed Danske Bank A/S as lead manager of the share buyback process.
    • In accordance with the share buyback programme, Alm. Brand A/S may acquire up to 110 million shares, corresponding to 7.1% of the existing share capital of Alm. Brand A/S.
    • The shares are in no circumstances to be acquired at a price deviating by more than 10% from the most recently quoted market price at the time of acquisition.
    • The shares are not to be acquired at a price exceeding the price of the last registered independent trade or exceeding the price of the highest independent quote on the trading venue on which the acquisition is made.
    • The maximum number of shares that may be acquired on any trading day may not exceed 25% of the average daily trading volume for shares in Alm. Brand A/S on the trading venue on which the acquisition is made. The average daily trading volume is calculated over a period of 20 days preceding the relevant trading day.

    Once a week after the launch of the share buyback programme and at the end of the programme, a company announcement will be published with information on transactions effected under the programme.

    Contact

    Please direct any questions regarding this announcement to:

    Investors and equity analysts:                 

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

    Attachment

    The MIL Network –

  • MIL-OSI: Volta Finance Limited – Dividend Declaration

    Source: GlobeNewswire (MIL-OSI)

    Volta Finance Limited (VTA/VTAS)

    Dividend Declaration

    NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION,
    IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

    Guernsey, 5 March 2025

    Volta Finance Limited (“the Company”) hereby announces that it has declared a quarterly interim dividend of €0.155 per share payable on 3 April 2025 amounting to approximately €5.67 million, approximately equating to an annualised 8% of net asset value. The ex-dividend date is 13 March 2025 with a record date of 14 March 2025.

    The Company has arranged for its shareholders to be able to elect to receive their dividends in either Euros or Pounds Sterling. Shareholders will, by default, receive their dividends in Euros, unless they have instructed the Company’s Registrar, Computershare Investor Services (Guernsey) Limited (“Computershare”), to pay dividends in Pounds Sterling.  Such instructions may be given to Computershare either electronically via CREST or by using the Currency Election Form which has been posted to shareholders and a copy of which is also available on the website www.voltafinance.com within the “Investors – Other Documents” section. The deadline for receipt of currency elections is 12:00 (midday) on 17 March 2025.

    CONTACTS
    For the Investment Manager
    AXA Investment Managers Paris
    François Touati
    francois.touati@axa-im.com
    +33 (0) 1 44 45 80 22

    Olivier Pons
    Olivier.pons@axa-im.com
    +33 (0) 1 44 45 87 30

    Company Secretary and Administrator
    BNP Paribas S.A., Guernsey Branch
    guernsey.bp2s.volta.cosec@bnpparibas.com 
    +44 (0) 1481 750 853

    Corporate Broker
    Cavendish Securities plc
    Andrew Worne
    Daniel Balabanoff
    +44 (0) 20 7397 8900

    *****
    ABOUT VOLTA FINANCE LIMITED

    Volta Finance Limited is incorporated in Guernsey under the Companies (Guernsey) Law, 2008 (as amended) and listed on Euronext Amsterdam and the London Stock Exchange’s Main Market for listed securities. Volta’s home member state for the purposes of the EU Transparency Directive is the Netherlands. As such, Volta is subject to regulation and supervision by the AFM, being the regulator for financial markets in the Netherlands.

    Volta’s Investment objectives are to preserve its capital across the credit cycle and to provide a stable stream of income to its Shareholders through dividends that it expects to distribute on a quarterly basis. The Company currently seeks to achieve its investment objectives by pursuing exposure predominantly to CLO’s and similar asset classes. A more diversified investment strategy across structured finance assets may be pursued opportunistically. The Company has appointed AXA Investment Managers Paris an investment management company with a division specialized in structured credit, for the investment management of all its assets.

    *****

    ABOUT AXA INVESTMENT MANAGERS
    AXA Investment Managers (AXA IM) is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with 2,800 professionals and €859 billion in assets under management as of the end of June 2024.  

    *****

    This press release is published by AXA Investment Managers Paris (“AXA IM”), in its capacity as alternative investment fund manager (within the meaning of Directive 2011/61/EU, the “AIFM Directive”) of Volta Finance Limited (the “Volta Finance”) whose portfolio is managed by AXA IM.

    This press release is for information only and does not constitute an invitation or inducement to acquire shares in Volta Finance. Its circulation may be prohibited in certain jurisdictions and no recipient may circulate copies of this document in breach of such limitations or restrictions. This document is not an offer for sale of the securities referred to herein in the United States or to persons who are “U.S. persons” for purposes of Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or otherwise in circumstances where such offer would be restricted by applicable law. Such securities may not be sold in the United States absent registration or an exemption from registration from the Securities Act. Volta Finance does not intend to register any portion of the offer of such securities in the United States or to conduct a public offering of such securities in the United States.

    *****

    This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). The securities referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Past performance cannot be relied on as a guide to future performance.

    *****
    This press release contains statements that are, or may deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “anticipated”, “expects”, “intends”, “is/are expected”, “may”, “will” or “should”. They include the statements regarding the level of the dividend, the current market context and its impact on the long-term return of Volta Finance’s investments. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. Volta Finance’s actual results, portfolio composition and performance may differ materially from the impression created by the forward-looking statements. AXA IM does not undertake any obligation to publicly update or revise forward-looking statements.

    Any target information is based on certain assumptions as to future events which may not prove to be realised. Due to the uncertainty surrounding these future events, the targets are not intended to be and should not be regarded as profits or earnings or any other type of forecasts. There can be no assurance that any of these targets will be achieved. In addition, no assurance can be given that the investment objective will be achieved.

    The figures provided that relate to past months or years and past performance cannot be relied on as a guide to future performance or construed as a reliable indicator as to future performance. Throughout this review, the citation of specific trades or strategies is intended to illustrate some of the investment methodologies and philosophies of Volta Finance, as implemented by AXA IM. The historical success or AXA IM’s belief in the future success, of any of these trades or strategies is not indicative of, and has no bearing on, future results.

    The valuation of financial assets can vary significantly from the prices that the AXA IM could obtain if it sought to liquidate the positions on behalf of the Volta Finance due to market conditions and general economic environment. Such valuations do not constitute a fairness or similar opinion and should not be regarded as such.

    Editor: AXA INVESTMENT MANAGERS PARIS, a company incorporated under the laws of France, having its registered office located at Tour Majunga, 6, Place de la Pyramide – 92800 Puteaux. AXA IMP is authorized by the Autorité des Marchés Financiers under registration number GP92008 as an alternative investment fund manager within the meaning of the AIFM Directive.

    *****

    The MIL Network –

  • MIL-OSI: VAALCO Energy, Inc. Enters Into New $300 Million Revolving Credit Facility

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, March 05, 2025 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“Vaalco” or the “Company”) announced that it has entered into a new revolving credit facility (“the new facility”) with an initial commitment of $190 million and the ability to grow to $300 million, led by The Standard Bank of South Africa Limited, Isle of Man Branch with other participating banks and financial partners. This new facility, which is subject to customary administrative conditional precedents, replaces the Company’s existing undrawn revolving credit facility that was provided by Glencore Energy UK Ltd. The Company arranged the new facility primarily to provide short-term funding that may be needed from time-to-time to supplement its internally generated cash flow and cash balance as it executes its planned investment programs across its diversified asset base over the next few years.

    Key terms include:

    • Six-year term with facility amortization to begin on September 30, 2026;
    • Initial commitment of $190 million with the ability to grow to $300 million through a $110 million accordion;
    • Amounts drawn bear interest of 6.5% plus SOFR until the Côte d’Ivoire Floating Production Storage and Offloading vessel (“FPSO”) Dry Dock Refurbishment Project is completed;
    • Interest rate will decrease to 6.0% plus SOFR once the FPSO project is completed;
    • Undrawn available amounts incur a fee of 35% of margin per annum and undrawn unavailable amounts incur a fee of 20% of margin per annum, with semi-annual borrowing base redeterminations; and
    • Secured with Vaalco’s Gabon, Egypt and Côte d’Ivoire assets.

    “Closing this new credit facility will supplement our internally generated cash flow and cash balance to assist in funding our robust organic growth projects,” said George Maxwell, Vaalco’s Chief Executive Officer. “With $190 million in initial commitment and the ability to grow to $300 million, this facility enables us to fund any short-term capital funding needs that may occur as we execute the significant growth projects across our assets over the next couple of years. We appreciate the support shown by our lending group which we believe affirms the strength of our diverse asset base. We are excited about the major projects that we have planned which are expected to deliver a step-change in organic growth across our portfolio.”

    The Company entered into the new facility with The Standard Bank of South Africa Limited, Isle of Man Branch as the lead bank on the facility. Other participants include Rand Merchant Bank, The Mauritius Commercial Bank Limited and Glencore Energy UK Ltd.

    About Vaalco
    Vaalco, founded in 1985 and incorporated under the laws of Delaware, is a Houston, Texas, USA based, independent energy company with a diverse portfolio of production, development and exploration assets across Gabon, Egypt, Côte d’Ivoire, Equatorial Guinea, Nigeria and Canada.

    For Further Information

       
    Vaalco Energy, Inc. (General and Investor Enquiries) +00 1 713 543 3422
    Website: www.vaalco.com
       
    Al Petrie Advisors (US Investor Relations) +00 1 713 543 3422
    Al Petrie / Chris Delange  
       
    Buchanan (UK Financial PR) +44 (0) 207 466 5000
    Ben Romney / Barry Archer Vaalco@buchanan.uk.com
       

    Forward Looking Statements
    This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created by those laws and other applicable laws and may also include “forward-looking information” within the meaning of applicable Canadian securities law (collectively “forward-looking statements”). Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. All statements other than statements of historical fact may be forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “forecast,” “outlook,” “aim,” “target,” “will,” “could,” “should,” “may,” “likely,” “plan” and “probably” or similar words may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release may include, but are not limited to, statements relating to (i) estimates of future drilling, production, sales and costs of acquiring crude oil, natural gas and natural gas liquids; (ii) expectations regarding Vaalco’s ability to effectively integrate assets and properties it has acquired as a result of the Svenska acquisition into its operations; (iii) expectations regarding future exploration and the development, growth and potential of Vaalco’s operations, project pipeline and investments, and schedule and anticipated benefits to be derived therefrom; (iv) expectations regarding future acquisitions, investments or divestitures; (v) expectations of future dividends; (vi) expectations of future balance sheet strength; and (vii) expectations of future equity and enterprise value.

    Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to: risks relating to any unforeseen liabilities of Vaalco; the ability to generate cash flows that, along with cash on hand, will be sufficient to support operations and cash requirements; risks relating to the timing and costs of completion for scheduled maintenance of the FPSO servicing the Baobab field; and the risks described under the caption “Risk Factors” in Vaalco’s 2023 Annual Report on Form 10-K filed with the SEC on March 15, 2024 and subsequent Quarterly Reports on Form 10-Q filed with the SEC.

    Inside Information
    This announcement contains inside information as defined in Regulation (EU) No. 596/2014 on market abuse which is part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”) and is made in accordance with the Company’s obligations under article 17 of MAR. The person responsible for arranging the release of this announcement on behalf of Vaalco is Matthew Powers, Corporate Secretary of Vaalco.

    The MIL Network –

  • MIL-OSI: Trifork subsidiary TestHuset partners with Cognizant on Testing-as-a-Service in Denmark

    Source: GlobeNewswire (MIL-OSI)

    Press release

    Trifork subsidiary TestHuset partners with Cognizant on Testing-as-a-Service in Denmark

    Copenhagen, 5 March 2025 – TestHuset, a leading company in software testing and quality assurance in Denmark, has entered into a partnership with the U.S.-based company Cognizant to introduce a new perspective on software testing and quality assurance in Denmark.

    The partnership was established as part of KOMBIT’s recent tender, which was jointly awarded to Cognizant and TestHuset. Beyond KOMBIT, the collaboration will also extend to support other clients of both Cognizant and TestHuset. The partnership is anchored in TestHuset’s strong local presence in Denmark and is further strengthened by Cognizant’s experience with Testing-as-a-Service (TaaS) and its international reach through both nearshore and offshore resources.

    KOMBIT’s tender is focused locally on TaaS, and TestHuset expects it will set a precedent for how large Danish private and public organizations will approach software quality assurance in the future. TestHuset anticipates growing demand for on-site TaaS teams supported by products that provide complete, data-driven insights into software quality. To meet this demand, TestHuset offers solutions such as Trifork Quality Intelligence, which delivers a holistic and transparent view of quality, along with a new AI-powered tool that accelerates testing and quality assurance for customers’ digital solutions.

    Allan Tange, CEO of TestHuset, comments:

    “KOMBIT’s tender is both ambitious and innovative, setting new standards for how organizations can rethink their approach to testing and quality assurance of their digital solutions. Our partnership with Cognizant has the potential to significantly enhance the quality of digital solutions across many large Danish enterprises. We are very excited to present our new concept to customers of both Cognizant and TestHuset in the near future.”

    Thomas Djursø, Country Manager at Cognizant, adds:

    “Together with TestHuset, we have created a strong setup for TaaS. With TestHuset’s experience and senior specialists working closely with Cognizant’s team in Denmark, we provide a robust on-site foundation for TaaS. This is further enhanced by Cognizant’s ability to scale through nearshore and offshore delivery and our significant investments in test automation and generative AI. Combined, this ensures that our customers can transition to TaaS with a focus on quality, speed of transformation, and efficiency gains.”

    Investor and media contact
    Frederik Svanholm
    Group Investment Director, Head of IR & PR
    frsv@trifork.com, +41 79 357 7317

    About Trifork
    Trifork is a pioneering global technology partner, empowering enterprise and public sector customers with innovative solutions. With 1,229 professionals across 73 business units in 16 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Labs, the Group’s R&D hub, drives innovation by investing in and developing synergistic and high-potential technology companies. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

    About TestHuset
    Founded in 2005, TestHuset is a leading quality assurance company helping large organizations improve their software quality. Since 2018, TestHuset has been part of the international development company Trifork. TestHuset delivers consulting, services, and competence development on both local and global levels. TestHuset is headquartered in Copenhagen with 75+ employees in Denmark, Sweden, and Spain. Learn more at testhuset.dk.

    About Cognizant
    Cognizant (Nasdaq: CTSH) is a leading global technology and consulting company that transforms modern businesses, enabling them to operate intuitively and proactively. Cognizant has 340,100 employees and generated $19.4 billion in revenue in 2023. Cognizant helps clients modernize technology, rethink processes, and transform experiences to remain competitive in a rapidly changing world. Together, we are improving everyday life. Learn more at www.cognizant.com or follow @cognizant.

    Attachment

    The MIL Network –

  • MIL-OSI: Fourth quarter 2024 results: EUR 233 million net income in Q4 2024 Proposed regular dividend of EUR 1.8 per share

    Source: GlobeNewswire (MIL-OSI)

    Press release
    05 March 2025 – N° 03

    Fourth quarter 2024 results

    EUR 233 million net income in Q4 2024

    Proposed regular dividend of EUR 1.8 per share

    • Group net income of EUR 233 million in Q4 2024 driven by all business activities (EUR 235 million adjusted1)
      • P&C combined ratio of 83.1% in Q4 2024 including a low Nat Cat ratio and allowing for ongoing reserving discipline
      • L&H insurance service result2 of EUR 119 million in Q4 2024
      • Investments regular income yield of 3.6% in Q4 2024
    • Economic Value per share of EUR 48 (vs. EUR 51 as of 31 December 2023)
    • IFRS 17 Group Economic Value3 of EUR 8.6 billion as of 31 December 2024, down -6.3% at constant economics3,4. Adjusted for one-offs5, Economic Value growth of +9.8% at constant economics3,4
    • Estimated Group solvency ratio of 210%6 as of 31 December 2024, in the upper part of the optimal range of 185%-220%, fully absorbing the impact of the 2024 L&H assumption review
    • Proposed regular dividend of EUR 1.8 per share for 2024
    • Annualized Return on Equity of 22.8% (23.0% adjusted1) in Q4 2024. For the full year 2024, Return on Equity stands at 0.1% (0.2% adjusted1); adjusted for one-offs5, the annualized Return on Equity would stand at 14.9% for the full year 2024

    SCOR SE’s Board of Directors met on 4 March 2025, under the chair of Fabrice Brégier, to approve the Group’s Q4 2024 financial statements.

    Thierry Léger, Chief Executive Officer of SCOR, comments: “I am satisfied with the fourth quarter results. All business activities contribute to a strong consolidated Group net income. On a full year basis, P&C performance is excellent: the Nat Cat ratio is below the 10% budget, and the underlying performance enables us to build significant prudence two years ahead of plan. Investments performance is strong over the year, taking advantage of the current market conditions. In L&H, we took decisive actions to restore profitability. With a solvency ratio of 210% at year-end remaining in the upper part of the optimal range, SCOR demonstrates resilience as well as enhanced underlying capital generation, leading to a proposed dividend of EUR 1.8 per share. In the prevailing market environment, I’m fully confident that SCOR will continue to grow profitably in diversifying lines of business by leveraging its Tier 1 franchise. We are committed to delivering our Forward 2026 ambitions.”

    Group performance and context

    SCOR records EUR 233 million net income (EUR 235 million adjusted1) in Q4 2024, supported by all business activities:

    • In P&C, the combined ratio of 83.1% in Q4 2024 is primarily driven by a low natural catastrophe ratio of 6.4%. Over the full year 2024, the natural catastrophe ratio of 9.4% is better than the 10% budget. The attritional loss and commission ratio stands at 75.9% in Q4 2024, reflecting a very satisfactory underlying performance allowing for continued reserving discipline. The completion of the annual P&C year-end reserve review confirms all lines are at best estimate and our reserve resilience has increased.
    • In L&H, the insurance service result2 stands at EUR 119 million in Q4 2024, driven by a good level of CSM amortization and risk adjustment release, partially offset by a negative experience variance from the US.
    • In Investments, SCOR benefits from high reinvestment rates and an elevated regular income yield of 3.6% in Q4 2024.
    • The effective tax rate stands at 8% for Q4 2024, mainly reflecting the release of Q2 and Q3 tax provisions related to deferred tax assets.

    The annualized Return on Equity stands at 22.8% (23.0% adjusted1) in Q4 2024.

    Over the full year 2024, SCOR delivers a net income of EUR 4 million (EUR 11 million adjusted1), implying an annualized Return on Equity of 0.1% (0.2% adjusted1), impacted by the outcome of the 2024 L&H assumption review accounting for EUR -0.7 billion (pre-tax) in insurance service result and EUR
    -0.9 billion (pre-tax) in contractual service margin (CSM). The Group Economic Value decreases by 6.3% at constant economics3,4 (+9.8% adjusted for one-offs5).

    SCOR’s Solvency ratio stands at 210% at year-end 2024, in the upper part of the optimal range of 185%-220%, fully absorbing the one-off impact of the L&H assumption review, and demonstrating the Group’s balance sheet resilience.

    Proposed regular dividend of EUR 1.8 per share

    SCOR proposes a regular dividend of EUR 1.8 per share for the fiscal year 2024, stable compared to the fiscal year 2023.

    This dividend will be submitted for shareholders’ approval at the 2025 Annual General Meeting, to be held on 29 April 2025. The Board proposes to set the ex-dividend date at 2 May 2025, and the payment date at 6 May 2025.

    On-going very strong P&C underlying performance

    In Q4 2024, P&C insurance revenue stands at EUR 1,929 million, up +0.4% at constant exchange rates (down -0.5% at current exchange rates) compared to Q4 2023, driven by the effect of a large commutation. Excluding this effect, the insurance revenue would grow by +1.7%.

    New business CSM in Q4 2024 stands at EUR -43 million, impacted by limited renewals in Q4 and an early recognition of the cost of some retrocession contracts renewed at 1 January 2025.

    P&C (re)insurance key figures:

    In EUR million
    (at current exchange rates)    		 Q4 2024 Q4 2023 Variation FY 2024 FY 2023 Variation
    P&C insurance revenue 1,929 1,940 -0.5% 7,639 7,496 1.9%
    P&C insurance service result 238 353 -32.6% 779 897 -13.1%
    Combined ratio 83.1% 75.6% 7.5pts 86.3% 85.0% 1.3pts
    P&C new business CSM -43 -76 43.8% 1,024 952 7.6%

    The P&C combined ratio stands at 83.1% in Q4 2024, compared to 75.6% in Q4 2023. It includes:

    • A Nat Cat ratio of 6.4%, mainly impacted by the losses related to Hurricane Milton (4.7 pts).
    • An attritional loss and commission ratio of 75.9%, reflecting a very satisfactory underlying performance and continued reserving discipline.
    • A discount effect of -9.5%, impacted by the year-end reserves review.
    • An attributable expense ratio of 9.7%, impacted by an expense accounting true-up.

    The P&C insurance service result of EUR 238 million is driven by a CSM amortization of
    EUR 252 million, a risk adjustment release of EUR 45 million, a negative experience variance of
    EUR -38 million and an impact of onerous contract of EUR -21 million. The negative experience variance reflects the prudence building and a low level of retrocession recoveries.

    The impact of the California wildfires is estimated at circa EUR140m, pre-tax and net of retrocessions, which is in line with the Nat Cat budget level of Q1 2025.

    Improved L&H insurance service result in Q4 2024

    In Q4 2024, L&H insurance revenue amounts to EUR 2,055 million, up +8.4% at constant exchange rates (+8.6% at current exchange rates) compared to Q4 2023. L&H New Business CSM7 generation of EUR 113 million in Q4 is driven by Protection and new deals in Longevity.

    The L&H insurance service result2 amounts to EUR 119 million in Q4 2024. It includes:

    • A CSM amortization of EUR 117 million, including a EUR 16 million exceptional release. Excluding this, the annualized CSM amortization rate is 6.9%8.
    • A Risk Adjustment release of EUR 36 million.
    • An experience variance of EUR -49 million, driven by negative deviations in the US.
    • A positive impact of onerous contracts of EUR 12 million reflecting changes in risk adjustment.
    • Offsetting one-off impacts from the 2024 L&H reviews amounting to EUR 1 million.

    L&H reinsurance key figures:

    In EUR million
    (at current exchange rates)    		 Q4 2024 Q4 2023 Variation FY 2024 FY 2023 Variation
    L&H insurance revenue 2,055 1,892 8.6% 8,487 8,426 0.7%
    L&H insurance service result2 119 64 87.5% -348 589 -159.1%
    L&H new business CSM7 113 90 25.4% 485 466 4.1%

    Investments delivering strong results with a regular income yield of 3.6% in Q4 2024

    As of 31 December 2024, total invested assets amount to EUR 24.2 billion. SCOR’s asset mix is optimized, with 78% of the portfolio invested in fixed income. SCOR has a high-quality fixed income portfolio with an average rating of A+, and a duration of 3.8 years (3.0 at year-end 2023) following the implementation of the new ALM strategy.

    Investments key figures:

    In EUR million
    (at current exchange rates)    		 Q4 2024 Q4 2023 Variation FY 2024 FY 2023 Variation
    Total invested assets 24,155 22,914 5.4% 24,155 22,914 5.4%
    Regular income yield* 3.6% 3.7% -0.1pts 3.5% 3.2% 0.3pts
    Return on invested assets*, ** 3.3% 3.7% -0.4pts 3.5% 3.2% 0.3pts

    (*) Annualized.
    (**) Fair value through income on invested assets excludes EUR -3 million in Q4 2024 and EUR -9 million in FY 2024 related to the pre-tax mark to market impact of the fair value of the option on own shares granted to SCOR.

    Total investment income on invested assets stands at EUR 1959 million in Q4 2024. The return on invested assets stands at 3.3%9 (vs. 3.7% in Q4 2023) and the regular income yield at 3.6% (vs. 3.7% in Q4 2023).

    The reinvestment rate stands at 4.5%10 as of 31 December 2024, compared to 4.1% as of 30 September 2024. The invested assets portfolio remains highly liquid and financial cash flows of EUR 9.5 billion are expected over the next 24 months11, enabling SCOR to benefit from elevated reinvestment rates.

    *

    *          *

    APPENDIX

    1 – SCOR Group Q4 2024 key financial details

    In EUR million
    (at current exchange rates)    		 Q4 2024 Q4 2023 Variation FY 2024 FY 2023 Variation
    Insurance revenue 3,984 3,832 4.0% 16,126 15,922 1.3%
    Gross written premiums1 5,049 4,927 2.5% 20,064 19,371 3.6%
    Insurance Service Result2 357 417 -14.3% 432 1,486 -70.9%
    Management expenses -347 -329 -5.2% -1,250 -1,164 -7.4%
    Annualized ROE3 22.8% 15.0% 7.8pts 0.1% 18.1% -18.0pts
    Annualized ROE excluding the mark to market impact of the option on own shares 23.0% 16.6% 6.4pts 0.2% 17.5% -17.2pts
    Net income3,4 233 162 43.2% 4 812 -99.5%
    Net income4 excluding the mark to market impact of the option on own shares 235 179 31.4% 11 780 -98.6%
    Economic value5,6 8,615 9,213 -6.5% 8,615 9,213 -6.5%
    Shareholders’ equity 4,524 4,723 -4.2% 4,524 4,723 -4.2%
    Contractual Service Margin (CSM)6 4,091 4,490 -8.9% 4,091 4,490 -8.9%

    1: GWP is not a metric defined under the IFRS 17 accounting framework (non-GAAP metric); 2: Including revenues on financial contracts reported under IFRS 9; 3: Taking into account the mark to market impact of the option on own shares. Q4 2024 impact of EUR-3 million before tax, FY 2024 impact of EUR -9 million before tax. 4: Consolidated net income, Group share; 5. Defined as the sum of the shareholder’s equity and the Contractual Service Margin (CSM); 6: Net of tax. A notional tax rate of 25% is applied to the CSM.

    2 – P&L key figures Q4 2024

    In EUR million
    (at current exchange rates)    		 Q4 2024 Q4 2023 Variation FY 2024 FY 2023 Variation
    Insurance revenue 3,984 3,832 4.0% 16,126 15,922 +1.3%
    • P&C insurance revenue
    		 1,929 1,940 -0.5% 7,639 7,496 +1.9%
    • L&H insurance revenue
    		 2,055 1,892 8.6% 8,487 8,426 +0.7%
    Gross written premiums1 5,049 4,927 2.5% 20,064 19,371 +3.6%
    • P&C gross written premiums
    		 2,508 2,362 6.2% 9,869 9,452 +4.4%
    • L&H gross written premiums
    		 2,541 2,565 -0.9% 10,195 9,919 +2.8%
    Investment income on invested assets 195 206 -5.3% 800 711 +12.5%
    Operating results 291 350 -17.0% 298 1,366 -78.2%
    Net income2,3 233 162 43.2% 4 812 -99.5%
    Net income2 excluding the mark to market impact of the option on own shares 235 179 31.4% 11 780 -98.6%
    Earnings per share3 (EUR) 1.30 0.91 42.9% 0.02 4.54 -99.6%
    Earnings per share (EUR) excluding the mark to market impact of the option on own shares 1.31 1.00 31.0% 0.06 4.35 -98.6%
    Operating cash flow 197 588 -66.5% 903 1,480 -39.0%

    1: GWP is not a metric defined under the IFRS 17 accounting framework (non-GAAP metric); 2: Consolidated net income, Group share; 3: Taking into account the mark to market impact of the option on own shares. Q4 2024 impact of EUR -3 million before tax, FY 2024 impact of EUR -9 million before tax.

    3 – P&L key ratios Q4 2024

      Q4 2024 Q4 2023 Variation FY 2024 FY 2023 Variation
    Return on invested assets 1,2 3.3% 3.7% -0.4pts 3.5% 3.2% +0.3pts
    P&C combined ratio 3 83.1% 75.6% +7.5pts 86.3% 85.0% +1.3pts
    Annualized ROE4 22.8% 15.0% +7.8pts 0.1% 18.1% -18.0pts
    Annualized ROE excluding the mark to market impact of the option on own shares 23.0% 16.6% +6.4pts 0.2% 17.5% -17.2pts
    Economic Value growth5 n.a. n.a. n.a. -6.3% 8.6% -14.9pts

    1: Annualized; 2: In Q4 2024 and FY 2024, fair value through income on invested assets excludes respectively EUR -3 million and EUR -9 million pre-tax mark to market impact of the fair value of the option on own shares granted to SCOR; 3: The combined ratio is the sum of the total claims, the total variables commissions, and the P&C attributable management expenses, divided by the net insurance revenue for P&C business; 4: Taking into account the mark to market impact of the option on own shares. Q4 2024 impact of EUR -3 million before tax, FY 2024 impact of EUR -9 million before tax; 5: Not annualized. Growth at constant economic assumptions and excluding the mark to market impact of the option on own shares. The starting point is adjusted for the dividend of EUR 1.8 per share (EUR 324 million in total) for the fiscal year 2023, paid in 2024. Economic Value defined as the sum of the shareholders’ equity and the Contractual Service Margin (CSM), net of tax. A notional tax rate of 25% is applied to the CSM.

    4 – Balance sheet key figures as of 31 December 2024

    In EUR million
    (at current exchange rates)    		 As of
    31 December 2024    		 As of
    31 December 2023    		 Variation
    Total invested assets1 24,155 22,914 +5.4%
    Shareholders’ equity 4,524 4,723 -4.2%
    Book value per share (EUR) 25.22 26.16 -3.6%
    Economic Value2 8,615 9,213 -6.5%
    Economic Value per share (EUR)3 48.03 51.18 -6.2%
    Financial leverage ratio4 24.5% 21.2% +3.3pts
    Total liquidity5 2,466 2,234 +10.4%

    1: Excluding third-party net insurance business investments; 2: The Economic Value (defined as the sum of the shareholders’ equity and the Contractual Service Margin (CSM), net of tax) includes minority interests; 3: The Economic Value per share excludes minority interests; 4: The leverage ratio is calculated as the percentage of subordinated debt compared to the sum of Economic Value and subordinated debt in IFRS 17; 5: Including cash and cash equivalents and short-term investments.

    *

    *         *

    SCOR, a leading global reinsurer

    As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk”, SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society.

    The Group generated premiums of EUR 20.1 billion in 2024 and serves clients in more than 150 countries from its 37 offices worldwide.

    For more information, visit: www.scor.com

    		 Media Relations
    Alexandre Garcia
    media@scor.com

    Investor Relations
    Thomas Fossard
    InvestorRelations@scor.com

    Follow us on LinkedIn
     

    All content published by the SCOR group since January 1, 2024, is certified with Wiztrust. You can check the authenticity of this content at wiztrust.com.

    General

    Numbers presented throughout this press release may not add up precisely to the totals in the tables and text. Percentages and percent changes are calculated on complete figures (including decimals); therefore, this press release might contain immaterial differences in sums and percentages due to rounding. Unless otherwise specified, the sources for the business ranking and market positions are internal.

    Forward-looking statements

    This press release includes forward-looking statements, assumptions, and information about SCOR’s financial condition, results, business, strategy, plans and objectives, including in relation to SCOR’s current or future projects.

    These statements are sometimes identified by the use of the future tense or conditional mode, or terms such as “estimate”, “believe”, “anticipate”, “expect”, “have the objective”, “intend to”, “plan”, “result in”, “should” and other similar expressions.

    It should be noted that the achievement of these objectives, forward-looking statements, assumptions and information is dependent on circumstances and facts that may or may not arise in the future.

    No guarantee can be given regarding the achievement of these forward-looking statements, assumptions and information. These forward-looking statements, assumptions and information are not guarantees of future performance. Forward-looking statements, assumptions and information (including on objectives) may be impacted by known or unknown risks, identified or unidentified uncertainties and other factors that may significantly alter the future results, performance and accomplishments planned or expected by SCOR.

    In particular, it should be noted that the full impact of the economical and geopolitical risks on SCOR’s business and results cannot be accurately assessed.

    Therefore, any assessments, any assumptions and, more generally, any figures presented in this press release will necessarily be estimates based on evolving analyses, and encompass a wide range of theoretical hypotheses, which are highly evolutive.

    Information regarding risks and uncertainties that may affect SCOR’s business is set forth in the 2023 Universal Registration Document filed on March 20, 2024, under number D.24-0142 with the French Autorité des marchés financiers (AMF) posted on SCOR’s website www.scor.com.

    In addition, such forward-looking statements, assumptions and information are not “profit forecasts” within the meaning of Article 1 of Commission Delegated Regulation (EU) 2019/980.

    SCOR has no intention and does not undertake to complete, update, revise or change these forward-looking statements, assumptions and information, whether as a result of new information, future events or otherwise.

    Financial information

    The Group’s financial information contained in this press release is prepared on the basis of IFRS and interpretations issued and approved by the European Union.

    Unless otherwise specified, prior-year balance sheet, income statement items and ratios have not been reclassified.

    The calculation of financial ratios (such as return on invested assets, regular income yield, return on equity and combined ratio) is detailed in the Appendices of the presentation related to the financial results for the full year 2024 (see pages 25-61). The financial results for the full year 2024 included in this press release have been audited by SCOR’s statutory auditors. Unless otherwise specified, all figures are presented in Euros.

    Any figures or financial results for a period subsequent to December 31, 2024 should not be taken as a forecast of the expected financials for these periods.

    The solvency ratio is not audited by SCOR’s statutory auditors. The Group solvency final results are to be filed to supervisory authorities by April 2025 and may differ from the estimates expressed or implied in this press release

    1 Adjusted by excluding the mark to market impact of the option on own shares.

    2 Includes revenues on financial contracts reported under IFRS 9.

    3 Defined as the sum of the shareholders’ equity and the Contractual Service Margin (CSM), net of tax. 25% notional tax rate applied on CSM.

    4 Growth at constant economic assumptions as of 31 December 2023, excluding the mark to market impact of the option on own shares.

    5 Excluding the mark to market impact of the option on own shares, and the impacts of the 2024 L&H assumption review and the Q3 true-up on identified arbitration positions.

    6 Solvency ratio estimated after taking into account the proposed dividend of EUR 1.8 per share for the fiscal year 2024.            

    7 Includes the CSM on new treaties and change in CSM on existing treaties due to new business (i.e. new business on existing contracts).

    8 Applied to the closing CSM (before amortization) at the half year or the full year.

    9 Excluding the mark to market impact of the option on own shares. Q4 2024 impact of EUR -3 million before tax.

    10 Reinvestment rate is based on Q4 2024 asset allocation of yielding asset classes (i.e. fixed income, loans and real estate), according to current reinvestment duration assumptions. Yield curves & spreads as of 31/12/2024.

    11 As of 31 December 2024. Including current cash balances and future coupons and redemptions.

    Attachment

    The MIL Network –

  • MIL-OSI: Atos reports full year 2024 results

    Source: GlobeNewswire (MIL-OSI)

    Press release

    Atos reports full year 2024 results

    Recovery of the commercial activity in Q4 2024

    • Q4 order entry at €2.7 billion
    • Q4 book to bill at 117%, +9 points vs Q4 2023, benefitting from the signature of large multi-year contract renewals and wins
    • FY 2024 book to bill at 82% vs 94% in prior year

    FY 2024 revenue: €9,577 million, down -5.4% organically, impacted by previously-established contract terminations or scope reductions and by market softness in key geographies

    • Eviden: down -6.7% organically
    • Tech Foundations down -4.1% organically

    Operating margin of 2.1% at €199m, with Eviden at 2.0% and Tech Foundations at 2.2%

    • Down -210 bps organically compared with FY 2023, mainly due to the allocation to the business of SG&A costs previously allocated to Other Operating Income & Expenses, as part of the separation project in prior year
    • Operating margin includes circa €40 million of provision for underperforming contracts following negotiations with customers

    Free cash flow at €-2,233 million reflecting the end of one-off working capital optimization actions and higher capex linked to High Performance Computing contracts

    • Working capital optimization at December 2024 of €0.3 billion compared to €1.8 billion in prior year
      • Consisting solely of customer invoices paid in advance without any discount and on a pure voluntary basis;
      • No usage at all of account receivable factoring or specific optimization on trade payables.

    Net income group share of €248 million, including notably:

    • €3,520 million income from the financial restructuring, including a €2,766 million gain on the debt-to-equity swap and €965 million IFRS 9 debt fair value treatment, which will be amortized in subsequent years
    • Goodwill and other non-current assets impairment charge of €2,357 million, reflecting the decrease of the Group’s enterprise value, which takes into account a lower fair value of the financial debts and a lower market capitalization

    Paris, March 5, 2025 – Atos, a global leader in digital transformation, high-performance computing and information technology infrastructure, today announces its 2024 financial results.

    Philippe Salle, Atos Chairman of the Board of Directors and Chief Executive Officer, declared:

    “It was with great enthusiasm and conviction that I have joined the Atos Group in October 2024. Now that our financial restructuring has been successfully completed in December, the Group can focus on its transformation journey and on providing the highest level of support to our customers through innovation and quality of service. I will present my vision for Atos and our mid-term strategy during a Capital Markets Day on May 14.

    During the fourth quarter, our commercial activity recovered thanks to the positive change of perception of our clients, who took note of the improvement of our credit rating. This positive commercial momentum materialized in renewals or extensions of large strategic multi-year contracts.

    I would like to take this opportunity to sincerely thank the teams involved for their outstanding contribution to the financial structuring of the company and to our employees, customers and partners for their continued support.”

    FY 2024 performance highlights

    In € million FY 2024 FY 2023 Var.   FY 2023* Organic Var.
    Revenue 9,577 10,693 -10.4%   10,124 -5.4%
    Operating Margin 199 467 -268   423 -224
    In % of revenue 2.1% 4.4%   -230bps   4.2%    -210bps
    OMDA 722 1,026 -304      
    In % of revenue 7.6% 9.6%   -200bps      
    Net income 248 -3,441 3,689      
    Free Cash Flow -2,233 -1,078 -1,154      
    Net debt excl. IFRS 9 fair value treatment -1,238 -2,230 992      
    Net debt -275 -2,230 1,955      

    *: at constant scope and December 2024 average exchange rates

    FY 2024 performance by Business

    In € million FY 2024
    Revenue    		 FY 2023
    revenue    		 FY 2023
    revenue*    		 Organic variation*
    Eviden 4,604 5,089 4,937 -6.7%
    Tech Foundations 4,972 5,604 5,187 -4.1%
    Total 9,577 10,693 10,124 -5.4%
    In € million FY 2024
    Operating margin    		 FY 2023 Operating margin FY 2023
    Operating margin*    		   FY 2024
    Operating margin %    		 FY 2023 Operating margin% FY 2023 Operating margin%* Organic variation*
    Eviden 90 294 272   2.0% 5.8% 5.5% -350 bps
    Tech Foundations 109 172 151   2.2% 3.1% 2.9% -70 bps
    Total 199 467 423   2.1% 4.4% 4.2% -210 bps

    *: at constant scope and December 2024 average exchange rates

    Group revenue was €9,577 million, down -5.4% organically compared with FY 2023. Overall, Group revenue evolution in 2024 reflects previously-established contract terminations or scope reductions and market softness in key geographies

    Eviden revenue was €4,604 million, down -6.7% organically.

    • Digital activities decreased high single digit. The business was impacted by previously-established contract terminations and contract scope reductions, as well as by the continued market softness in North America, in the UK & Ireland and in Benelux and the Nordics.
    • Big Data & Security (BDS) revenue was roughly stable organically. Advanced Computing grew mid-single digit with large project deliveries in Denmark and Germany particularly during the fourth quarter. Revenue in Digital Security decreased low single digit due to contract terminations and volume decline.

    Tech Foundations revenue was €4,972 million, down -4.1% organically.

    • Core revenue (excluding BPO and value-added resale (“VAR”)) decreased low single digit. Stronger revenue in Major Events (related to the Paris Olympic & Paralympic games and the UEFA) was offset by previously-established contract terminations and completions in North America and by contract scope and volume reduction in the UK.
    • Non-core revenue declined high single digit as planned, reflecting deliberate reduction of BPO activities in the UK and reduced value-added resale for hardware and software products.

    Group operating margin was €199 million representing 2.1% of revenue, down -210 basis points organically compared with 2023:

    • This margin decrease comes mainly from the allocation to the business of €103 million SG&A costs previously allocated to Other Operating Income & Expenses as they related to the separation project conducted in 2023. The profitability of the Group was also impacted by revenue decrease and lower utilization of resources. Operating margin also includes circa €40 million of provision for underperforming contracts following negotiations with customers
    • Eviden’s operating margin was €90 million or 2.0% of revenue, down -350 basis points organically. Beyond the allocation of SG&A costs to the business for €48 million, profitability was also impacted by revenue decrease and lower utilization of resources.
    • Tech Foundations’ operating margin was €109 million or 2.2% of revenue down by -70 basis points organically. The positive impacts from the continued execution of the transformation program and the accelerated reduction of under-performing contracts via renegotiation were offset by higher allocation of SG&A cost to the business for €55 million.

    FY 2024 performance by Regional Business Unit

    In € million FY 2024
    Revenue    		 FY 2023
    revenue    		 FY 2023
    revenue*    		 Organic variation*
    North America 1,909 2,280 2,177 -12.3%
    UK / IR 1,500 1,770 1,763 -14.9%
    Benelux and the Nordics (BTN) 946 911 905 +4.6%
    Central Europe 2,207 2,506 2,253 -2.1%
    Southern Europe 2,080 2,284 2,119 -1.9%
    Growing markets 924 930 893 +3.4%
    Others & Global structures 11 12 13 -16.3%
    Total 9,577 10,693 10,124 -5.4%
    In € million FY 2024
    Operating margin    		 FY 2023 Operating margin FY 2023
    Operating margin*    		   FY 2024
    Operating margin %    		 FY 2023 Operating margin% FY 2023 Operating margin%* Organic variation*
    North America 161 244 229   8.5% 10.7% 10.5% -200 bps
    UK / IR 72 75 77   4.8% 4.2% 4.3% +40 bps
    Benelux and the Nordics (BTN) 7 23 23   0.8% 2.5% 2.5% -170 bps
    Central Europe 10 31 23   0.5% 1.3% 1.0% -60 bps
    Southern Europe 80 99 82   3.9% 4.3% 3.9% +0 bps
    Growing markets 31 92 88   3.4% 9.9% 9.9% -650 bps
    Others & Global structures -163 -97 -98   N/A N/A N/A N/A
    Total 199 467 423   2.1% 4.4% 4.2% -210 bps

    *: at constant scope and December 2024 average exchange rates

    North America revenue was €1,909 million, down -12.3% organically, impacted by contract terminations and general slowdown in market conditions.

    • Eviden revenue was down double digit, impacted by contract terminations and volume decline in Healthcare, Finance, and Transport & Logistics. BDS revenue remained stable.
    • Tech Foundations revenue was down high single digit due to contract completions and terminations in Media and in Insurance, as well as scope reductions with select customers.

    Operating margin was €161 million or 8.5% of revenue, down -200 basis points organically.

    • Eviden’s margin declined, impacted by volume reduction and contract terminations.
    • Tech Foundations margin declined, due to lower utilization of resources and volume reduction.

    UK & Ireland revenue was €1,500 million, down -14.9% organically.

    • Eviden revenue was down double digit. Digital revenue decreased, reflecting contract completions and volume reduction in the Public Sector. BDS revenue decreased as well, following the discontinuation of the low-margin “computing as a service” offering.
    • Revenue in Tech Foundations was down double digit, due to contract completion in Public Sector BPO activities.

    Operating margin was €72 million, or 4.8% of revenue, up +40 basis points organically. Tech Foundations margin benefited from the extension of a large multi-year contract renewed at better financial terms, while Eviden margin was impacted by revenue decline and lower utilization of resources in Digital.

    Benelux and the Nordics revenue was € 946 million, up +4.6% organically

    • Eviden revenue was up double digit, thanks particularly to BDS, with a new supercomputer sold to an innovation center in Denmark.
    • Revenue in Tech Foundations was down low single digit, with contract completions and volume decline in Healthcare and in Utilities.

    Operating margin was €7 million, or 0.8% of revenue, down -170 basis points organically. Profitability was impacted by project overruns and lower utilization of resources in Digital.

    Central Europe revenue was € 2,207 million, down -2.1% organically.

    • Eviden revenue was down low single digit. Decline in Digital due to volume reduction from Manufacturing and Defense customers was partially offset by the ongoing delivery of a large HPC in Germany.
    • Tech Foundations revenue was down low-single digit, reflecting scope reductions in the Banking and Automotive sectors.

    Operating margin was €10 million or 0.5% of revenue, down -60 basis points organically. Tech Foundations’ margin improvement was offset by Eviden’s profitability decrease.

    Southern Europe revenue was €2,080 million, down -1.9% organically.

    • Eviden revenue was down low-single digit. Digital activities declined due to volume reduction in Automotive, Transport & Logistics and Banking sectors. The delivery of a supercomputer project in Spain provided a higher prior year comparison basis for BDS.
    • Tech Foundations revenue declined low single digit due to contract completions with select customers.

    Operating margin was €80 million or 3.9% of revenue, broadly stable organically. BDS’ margin improvement driven by ongoing contracts deliveries was partially offset by Eviden profitability decrease due to lower utilization of resources in Digital.

    Growing Market revenue was €924 million, up +3.4% organically, reflecting stronger contributions related to the Paris Olympic & Paralympic Games and the UEFA contract.

    Operating margin was €31 million or 3.4% of revenue, down -650 basis points reflecting higher marketing expenses for Major Events.

    Others and Global Structures encompass the Group’s global delivery centers and global structures:

    • Global delivery centers net cost was €-72 million, broadly stable compared with last year.
    • Global Structures net cost was €-91 million and increased by €65 million, impacted by higher SG&A costs allocated to Operating margin in 2024 (rather than allocated to Other Operating Income, as part of the separation project in prior year).

    Order entry and backlog

    FY 2024 commercial activity

    Order entry reached €7.9 billion in 2024. Eviden order entry was €4.1 billion and Tech Foundations order entry was €3.8 billion.

    Book-to-bill ratio for the Group was 82% in 2024, down from 94% in 2023.

    • Eviden reported a book-to-bill ratio of 88% in 2024, down from 94% in 2023
    • Tech Foundations reported a book-to-bill ratio of 76% in 2024, down from 94% in 2023

    Q4 2024 commercial activity

    Order entry reached €2.7 billion in Q4 2024 bringing book to bill ratio to 117% for the quarter, benefitting from renewed client confidence thanks to the completion of the financial restructuring.

    Eviden reported a book-to-bill ratio of 111% for the fourth quarter, increasing strongly by +12 points compared with Q4 2023, notably led by a strong performance of Digital with a book to bill at 127%.
    Main contract signatures in the fourth quarter included an application management services contract with a Ministry of Economy, contract renewals in application management and cybersecurity services with a large American retail company and with a large health provider, as well as a High-Performance Computer (HPC) upgrade with a European scientific community.

    Tech Foundations reported a book-to-bill ratio of 122% for the fourth quarter, increasing by +6 points compared with Q4 2023.
    Main contract signatures in the fourth quarter included a 4-years contract extension for IT and digital transformation services with a state-owned savings bank. Several multi-year strategic contracts were renewed, in particular to provide Digital Workplace and Hybrid Cloud & Infrastructure services for North American and UK & Ireland customers in Financial Services, Public Sector, and Transport & Logistic.

    Backlog & commercial pipeline

    At the end of December 2024, the full backlog reached €13.0 billion representing 1.3 years of revenue.

    The full qualified pipeline amounted to €4.3 billion at the end of December 2024, representing 5.1 months of revenue.

    Human resources

    The total headcount was 78,112 at the end of December 2024, decreasing by -17.9% compared with the end of December 2023 and includes:

    • Transfers of 4,900 employees to new providers in Q3 2024 following contract completions in North America and in the UK. Excluding these transfers, headcount has decreased by circa -13%,
    • Worldgrid disposal in Q4 2024 (-973 employees).

    During the year, the Group hired 9,388 staff (of which 93.3% were Direct employees).

    Employe attrition rate remained in line with historical levels, increasing slightly from 14.5% in 2023 to 15.6% in 2024. FY 2024 retention rate for key employees remained high at 92%.

    Net income

    Net income group share was €248 million, primarily due to a €3,520 million financial gain related to the financial restructuring of the Group and a €2,858 million cost recorded in Other Operating Income and Expenses, which included a €2,357 million impairment charges on goodwill and non-current assets.

    Free cash flow

    Free cash flow was €-2,233 million in 2024 reflecting primarily the end of one-off working capital optimization actions resulting in a negative change in working capital requirement for €1,498 million and higher capex linked to HPC contracts for €239 million.

    Net debt and debt covenants

    At December 31, 2024, net debt was €1,238 million (€275 million including IFRS 9 debt fair value treatment), compared to € 2,230 million as of December 31, 2023. and consisted of:

    • Cash and cash equivalents for €1,739 million
    • Short-term financial assets for €93 million
    • Borrowings for €3,069 million (nominal value) or €2,107 million (IFRS fair value)

    The new credit documentation requires the Group to maintain:

    • from 31 March 2025, a minimum liquidity level of €650 million, to be verified at the end of each financial quarter;
    • from 30 June 2027, as from each half-year end, a maximum level of financial leverage (“Total Net Leverage Ratio Covenant”), which is defined as the ratio of Financial indebtedness (mainly excluding IFRS 16 impacts and IFRS 9 debt fair value treatment) to pre-IFRS 16 OMDA; the ceilings thus applicable will be determined no later than 30 June 2026 with reference to a flexibility of 30% in relation to the Business Plan adopted by the Group at that time; these ceilings will in any event remain between 3.5x and 4.0x.

    As at December 31, 2024, the Group financial leverage (as defined above and pre IFRS 9 debt fair value treatment) was 3.16x.

    Going concern and liquidity

    The consolidated financial statements of the Group for the year ended December 31, 2024 have been prepared on a going concern basis.

    The Group’s cash forecasts for the twelve months following the approval of the 2024 consolidated financial statements by the Board of Directors, result in a cash situation that meets its liquidity needs over that period.

    The cash forecasts, which take into account the latest business forecasts, have been prepared based on the assumptions which were in line with the Group updated business plan communicated on September 2, 2024.

    It is reminded that as part of its financial restructuring and following the completion on 18 December 2024 of the final steps of the Accelerated Safeguard Plan approved by the specialized Commercial Court of Nanterre on 24 October 2024, which resulted in:
    (i)      a €2.1 billion gross debt reduction through the equitization of €2.9 billion of existing financial debts and the repayment of €0.8 billion interim financings with the new money debt provided to the Company;

    (ii)      €1.6 billion of new money debt and €0.1 billion of new money equity from the rights issue and the additional reserved capital increase and

    (iii)      no debt maturities before the end of 2029,

    the Group now has the resources and flexibility to execute its midterm strategy.

    Operating margin to Operating income

    In € million 2024 2023
    Operating margin 199 467
    Reorganization -119 -696
    Rationalization and associated costs -37 -38
    Integration and acquisition costs 3 4
    Amortization of intangible assets (PPA from acquisitions) -57 -108
    Equity based compensation -2 -19
    Impairment of goodwill and other non-current assets -2 357 -2 546
    Other items -288 -169
    Operating (loss) -2 659 -3 106

    Non recurring items were a net expense of €2,858 million.

    Reorganization costs amounted to € 119 million.

    • Workforce adaptation measures relating mainly to restructuring plans launched in previous years were €77 million compared with €343 million in 2023, as the Group limited restructuring expenses to manage its cash position in 2024.
    • Separation and transformation related to the 2023 legal carve-out were incurred mostly at the start of the year for €42 million. In 2023, these costs amounted to €353 million, of which about one third corresponded to internal project costs.

    Rationalization and associated costs amounted to € 37 million compared to € 38 million in 2023, mainly corresponding to the continuation of the data centers consolidation program.

    Integration and acquisition costs amounted to € 3 million as certain earn-out and retention schemes did not materialize and were thus released to the income statement.

    Amortization of intangible assets recognized in the purchase price allocation amounted to €57 million and was mainly composed of Syntel customer relationships and technologies.

    Impairment of goodwill and other non-current assets amounted to € 2,357 million and mostly related:

    • To the impairment of goodwill for € 2,240 million in both Eviden (Americas and Northern Europe & APAC) and Tech Foundations (Northern Europe & APAC), and ;
    • To the impairment of customer relationships for € 109 million in Americas as a result of customer contract terminations.

    In 2024, Other items were a net expense of €288 million compared with €169 million in 2023 and included:

    • €74 million of net capital gain related to the sale of Worldgrid offset by additional losses recognized on past transactions ;
    • €160 million of losses related to onerous contracts that were accounted for in OOI in previous years;
    • €96 million of legal fees and settlement related to major litigations, including the settlement concluded with Unisys in December;
    • €78 million of current assets write offs; and
    • €28 million of costs related to early retirement programs in Germany, the UK and France as well as others non-recurring items.

    As a result, operating loss was at €-2,659 million, compared with a loss of €-3,106 million in 2023, reflecting primarily the €2,357 million impairment charge.

    Operating Income to Net income Group Share

    In € million 2024 2023
    Operating (loss) -2,659 -3,106
    Net financial income (expense) 3,121 -227
    Tax charge -214 -112
    Non-Controlling interests – -1
    Share of net profit of equity-accounted investments – 5
    Net income (loss) Group Share 248 -3,441
    Basic earning per share 0.034 -31.04
    Diluted earning per share 0.031 -31.04

    Net financial income was €3,121 million and was composed of:

    • The net cost of financial debt of €178 million, compared with €102 million in 2023. This €76 million increase mainly resulted from:
      • €38 million higher cost on the old debt (additional portions drawn on the RCF and higher interest rates on the Term Loan A);
      • €13m interests on the interim financing;
      • €12m interests on the new financing structure.
    • Other financial items for a net income of € 3,299 million in 2024 compared to net expense of € 125 million in 2023, composed mainly of:
      • The gain related to the financial restructuring of the Group for €3,520 million, detailed as follows:
    In € million 2024
    Fair value gain on the debt converted into equity 2,766
    Fair value gain on the new debt 965
    Fair value of the issued warrants -45
    Subtotal at financial restructuring date 3,686
    Costs and fees reported in the income statement -165
    Impact reported under the other financial income 3,520
    • Other items of €221 million, including notably:
      • €78 million of exit fees on Interim financing loans repaid as part of financial restructuring on December 18, 2024;
      • €36 million lease liability interest (€26 million in 2023). This variation mainly resulted from the increase in discount rates;
      • €30 million financial expense on pensions(€31 million in 2023). This pension financial cost represents the difference between interest costs on pension obligations and the return on plan assets;
      • €29 million of net foreign exchange loss, including hedges (loss of €19 million in 2023);
      • €15 million of prior year transaction costs included in financial debts, which were fully amortized in 2024 in the context of the financial restructuring of the Group.

    The tax charge for 2024 was €214 million, compared with €112 million in 2023. This €+102 million increase was mainly due to:

    • A €59 million impairment charge on deferred tax assets
    • A €37 million expense related to non-recoverable withholding tax

    Net income group share was €248 million, primarily due to a €3,520 million financial gain related to the financial restructuring of the Group and a €2,858 million cost recorded in Other Operating Income and Expenses, which included a €2,357 million impairment charges on goodwill and non-current assets.

    Earnings per share

    Basic earnings per share were €0.034. per share in 2024 and diluted earnings per share were €0.031 per share.

    Free cash flow and net cash

    In € million 2024 2023
    Operating Margin before Depreciation and Amortization (OMDA) 722 1,026
    Capital expenditures -444 -205
    Lease payments -301 -358
    Change in working capital requirement* -1,192 -391
    Cash from operations (CFO)* -1,214 73
    Tax paid -81 -77
    Net cost of financial debt paid -178 -102
    Reorganization in other operating income -245 -605
    Rationalization & associated costs in other operating income -9 -47
    Integration and acquisition costs in other operating income -3 -8
    Other changes** -504 -312
    Free Cash Flow (FCF) -2,233 -1,078
    Net (acquisitions) disposals 162 411
    Capital increase 3,049 –
    Share buy-back -2 -3
    Dividends paid -18 -35
    Change in net (debt) 958 -705
    Opening net cash (debt) -2,230 -1,450
    Change in net cash (debt) 958 -705
    Foreign exchange rate fluctuation on net cash (debt) 34 -75
    Closing net (debt) excl. IFRS fair value treatment -1,238 -2,230
    IFRS Debt fair value treatment 963 –
    Closing net (debt) -275 -2,230

    * Change in working capital requirement excluding the working capital requirement change related to items reported in other operating income and expense.

    ** “Other changes” include other operating income and expense with cash impact (excluding staff reorganization, rationalization and associated costs, integration and acquisition costs) and other financial items with cash impact, net long term financial investments excluding acquisitions and disposals, and profit sharing amounts payable transferred to debt

    Free cash flow was €-2,233 million in 2024 reflecting primarily the end of one-off working capital optimization actions resulting in a negative change in working capital requirement for €1,498 million and higher capex linked to HPC contracts for €239 million.

    Capital expenditures and lease payments totaled €745 million, up €182 million from the prior year reflecting a significant investment in the energy-efficient Exascale technology.

    Change in working capital requirement was €-1,192 million, primarily from €-1,498 million lower working capital optimization compared with end of fiscal 2023. As at December 2024, working capital benefited from invoices paid in advance by customers for € 319 million, without any discount and on a pure voluntary basis. As at December 31, 2023, total specific optimization carried out by the Group to optimize its working capital amounted to € 1,817 million.

    Cash out related to taxes paid increased by € 4 million and amounted to € 81 million in 2024, including € 6 million of taxes paid in connection with carve-out transactions completed in 2024.

    Net cost of financial debt was €178 million as explained above.

    The total of reorganization, rationalization & associated costs and integration & acquisition costs reached €256 million compared with €660 million in 2023 and included:

    • €135 million of reorganization costs in connection with restructuring measures as well as the continuation of the German restructuring plans; and
    • €110 million of costs related to the outstanding activities on the separation of the Group incurred mostly over the first quarter of the year.

    Cash out related to Other changes was €-504 million compared to € -312 million in 2023, and included:

    • €166 million of costs incurred on onerous contracts (purchase commitments and customer contracts);
    • €144 million of transaction costs paid in the context of the financial restructuring;
    • €78 million of exit fees on interim financing
    • Costs related to litigations

    As a result of the above impacts mainly driven by the change in the working capital requirement, the Group Free Cash Flow was € -2,233 million in 2024, compared to € -1,078 million in 2023.

    The net cash impact resulting from disposals was €162 million mainly related to the net cash proceeds from the Worldgrid disposal of €232 million, partly offset by the write-off of a receivable on a past disposal.

    Capital increase amounted to €3,049 million and were made of :

    • €2,904 million of equitization of financial debts; and
    • €145 million of new money equity raised mainly from the Rights Issue

    In the context of the financial restructuring process of the Group.

    No dividends were paid to Atos SE shareholders in 2024. The €18 million cash out (€35 million in 2023) corresponded to taxes withheld on internal dividend distributions and to dividends paid to minority interests.

    Foreign exchange rate fluctuation determined on debt or cash exposure by country represented a decrease in net debt of €34 million.

    As a result, the Group net debt position as of December 31, 2024 was €275 million (€1,238 million excluding the IFRS 9 debt fair value treatment), compared to €2,230 million as of December 31, 2023.

    Consolidated financial statements

    Atos consolidated financial statements for the year ended December 31, 2024, were approved by the Board of Directors on March 4, 2025. Audit procedures on the consolidated financial statements have been completed and the audit report will be issued after the review of the 2024 Universal Registration Document.

    Advance Computing sales process update

    On November 25, 2024, Atos announced that it has received a non-binding offer from the French State for the potential acquisition of 100% of the Advanced Computing activities of its BDS division, based on an enterprise value of €500 million, to be potentially increased to €625 million including earn-outs.

    The offer received from the French State provides for an exclusivity period until May 31, 2025. If the exclusive negotiations lead to an agreement and subject to obtaining the customary commercial, employee and administrative authorizations, a Share Purchase Agreement, subject to work councils’, opinion may be signed by that date. An initial payment of €150 million is expected to be made available to Atos upon signing of the Share Purchase Agreement.

    In addition, Atos has engaged into a sale process for its Mission Critical Systems business.

    Capital Markets Day

    Atos will present an update of its strategy and organization during a Capital Markets Day that will be held in Paris on May 14, 2025.

    Dividend

    Atos Board of Directors decided, in its meeting held on March 4, 2025, not to propose a dividend payment to the next Annual General Meeting.

    Conference call

    Atos’ Management invites you to an international conference call on the Group 2024 results, on Wednesday, March 5th, 2025 at 08:00 am (CET – Paris).

    You can join the webcast of the conference:

    • via the following link: https://edge.media-server.com/mmc/p/5g7hv4ka
    • by telephone with the dial-in, 10 minutes prior the starting time. Please note that if you want to join the webcast by telephone, you must register in advance of the conference using the following link:

    https://register.vevent.com/register/BIa3f9570d64b4412c8f5192ad4ad6d30b

    Upon registration, you will be provided with Participant Dial In Numbers, a Direct Event Passcode and a unique Registrant ID. Call reminders will also be sent via email the day prior to the event.
    During the 10 minutes prior to the beginning of the call, you will need to use the conference access information provided in the email received upon registration.

    After the conference, a replay of the webcast will be available on atos.net, in the Investors section.

    Forthcoming events

    April 25, 2025 (Before Market Opening) First quarter 2025 revenue
    May 14, 2025 Capital Markets Day
    June 13, 2025 Annual General Meeting
       
    August 1st, 2025 (Before Market Opening)  First semester 2025 results

    APPENDIX

    Q4 2024 revenue

    In € million Q4 2024
    Revenue    		 Q4 2023
    Revenue*    		 Organic variation*
    Eviden 1,126 1,280 -12.0%
    Tech Foundations 1,182 1,329 -11.0%
    Total 2,309 2,608 -11.5%
    In € million Q4 2024
    Revenue    		 Q4 2023
    Revenue*    		 Organic variation*
    North America 410 528 -22.3%
    UK / IR 322 447 -28.1%
    Benelux and the Nordics (BTN) 218 232 -6.1%
    Central Europe 586 580 +1.1%
    Southern Europe 519 556 -6.6%
    Growing markets 251 261 -3.9%
    Others & Global structures 2 4 -34.6%
    Total 2,309 2,608 -11.5%

    *: at constant scope and December 2024 average exchange rates

    Group revenue was €2,309 million in Q4, down -11.5% organically compared with Q4 2023.

    Eviden revenue was €1,126 million, down -12.0% organically.

    • Digital activities decreased double digit. The business was impacted by previously-established contract terminations contract scope reductions, as well as the continued market softness in North America and in the UK & Ireland.
    • Big Data & Security (BDS) revenue grew low single digit organically. Advanced Computing grew with large project deliveries in Germany.

    Tech Foundations revenue was €1,182.0 million, down -11.0% organically.

    • Core revenue (excluding BPO and value-added resale (“VAR”)) decreased high-single digit, mainly impacted by contract terminations in North America and previously-established contract scope and volume reduction in UK.
    • Non-core revenue declined double digit reflecting deliberate reduction of BPO activities in the UK and less value-added resale for hardware and software products.

    FY 2023 revenue and operating margin at constant scope and exchange rates reconciliation

    For the analysis of the Group’s performance, revenue and OM for FY 2024 is compared with FY 2023 revenue and OM at constant scope and foreign exchange rates. Reconciliation between the FY 2023 reported revenue and OM, and the FY 2023 revenue and OM at constant scope and foreign exchange rates is presented below, by Business Lines and Regional Business Units.

    FY 2023 revenue
    In € million    		 FY 2023
    published    		 Internal transfers Scope effects Exchange rates effects FY 2023*
    Eviden 5,089 33 -192 7 4,937
    Tech Foundations 5,604 -33 -401 17 5,187
    Total 10,693 0 -592 24 10,124
               
               
    FY 2023 revenue
    In € million    		 FY 2023
    published    		 Internal transfers Scope effects Exchange rates effects FY 2023*
    North America 2,280 -1 -96 -6 2,177
    Benelux and the Nordics (BTN) 911 0 -7 0 905
    UK / IR 1,770 0 -53 47 1,763
    Central Europe 2,506 0 -254 2 2,253
    Southern Europe 2,284 0 -164 0 2,119
    Growing Markets 930 0 -18 -19 893
    Others & Global structures 12 1 0 0 13
    Total 10,693 0 -592 24 10,124

    *: at constant scope and December 2024 average exchange rates

    FY 2023 Operating margin
    In € million    		 FY 2023
    published    		 Internal transfers Scope effects Exchange rates effects FY 2023*
    Eviden 294 0 -25 2 272
    Tech Foundations 172 0 -20 -1 151
    Total 467 0 -45 1 423
               
               
    FY 2023 Operating margin
    In € million    		 FY 2023
    published    		 Internal transfers Scope effects Exchange rates effects FY 2023*
    North America 244 1 -15 -1 229
    Benelux and the Nordics (BTN) 23 0 -1 0 23
    UK / IR 75 4 -5 2 77
    Central Europe 31 -3 -6 0 23
    Southern Europe 99 -2 -16 0 82
    Growing Markets 92 0 -3 -1 88
    Others & Global structures -97 -1 0 0 -98
    Total 467 0 -45 1 423

    *: at constant scope and December 2024 average exchange rates

    Scope effects on revenue amounted to €-592 million and €-45 million on operating margin. They mainly related to the divesture of UCC, EcoAct, Italy, State Street JV, and Worldgrid.

    Currency effects positively contributed to revenue for €+24 million and €+1 million on operating margin. They mostly came from the appreciation of the British pound, partially compensated by the depreciation of the Brazilian real, the US dollar, the Argentinian peso and the Turkish lira.

    Q4 2023 revenue at constant scope and exchange rates reconciliation

    For the analysis of the Group’s performance, revenue for Q4 2024 is compared with 2023 revenue at constant scope and foreign exchange rates.

    In 2023, the Group reviewed the accounting treatment of certain third-party standard software resale transactions following the decision published by ESMA in October 2023 that illustrated the IFRS IC decision and enacted a restrictive position on the assessment of Principal vs. Agent under IFRS 15 for such transactions. The Q4 2023 revenue is therefore restated by € +48 million. The impact affected Eviden in North America RBU.

    Reconciliation between the 2023 reported fourth quarter revenue and the 2023 fourth quarter revenue at constant scope and foreign exchange rates is presented below, by Business Lines and Regional Business Units:

    Q4 2023 revenue
    In € million    		 Q4 2023 published Restatement Q4 2023 restated Internal transfers Scope effects Exchange rates effects Q4 2023*
    Eviden            1,247                   48 1,295     -1 -22 8           1,280   
    Tech Foundations           1,308    –           1,308    1 -1 21           1,329   
    Total 2,555 48 2,602 0 -23 29 2,608
                   
                   
    Q4 2023 revenue
    In € million    		 Q4 2023 published Restatement Q4 2023 restated Internal transfers Scope effects Exchange rates effects Q4 2023*
    North America 483 48 531 -1 -1 -1 528
    Benelux and the Nordics 233 0 233 0 -1 0 232
    UK / IR 433 0 433 0 -3 18 447
    Central Europe 582 0 582 0 -2 0 580
    Southern Europe 571 0 571 0 -16 0 556
    Growing markets 250 0 250 0 0 12 261
    Others & Global structures 3 0 3 1 0 0 4
    Total 2,555 48 2,602 0 -23 29 2,608

    *: at constant scope and December 2024 average exchange rates

    Disclaimer

    This document contains forward-looking statements that involve risks and uncertainties, including references, concerning the Group’s expected growth and profitability in the future which may significantly impact the expected performance indicated in the forward-looking statements. These risks and uncertainties are linked to factors out of the control of the Company and not precisely estimated, such as market conditions or competitors’ behaviors. Any forward-looking statements made in this document are statements about Atos’s beliefs and expectations and should be evaluated as such. Forward-looking statements include statements that may relate to Atos’s plans, objectives, strategies, goals, future events, future revenues or synergies, or performance, and other information that is not historical information. Actual events or results may differ from those described in this document due to a number of risks and uncertainties that are described within the 2023 Universal Registration Document filed with the Autorité des Marchés Financiers (AMF) on May 24, 2024 under the registration number D.24-0429, as updated by chapter 2 “Risk factors” of the first amendment to Atos’ 2023 universal registration document filed with the Autorité des Marchés Financiers (AMF) on November 7, 2024 under the registration number D.24-0429-A01 and by chapter 2 “Risk factors” of the second amendment to Atos’ 2023 universal registration document filed with the Autorité des Marchés Financiers (AMF) on December 11, 2024 under the registration number D.24-0429-A02, and the half-year report filed published on August 6, 2024. Atos does not undertake, and specifically disclaims, any obligation or responsibility to update or amend any of the information above except as otherwise required by law.

    This document does not contain or constitute an offer of Atos’s shares for sale or an invitation or inducement to invest in Atos’s shares in France, the United States of America or any other jurisdiction. This document includes information on specific transactions that shall be considered as projects only. In particular, any decision relating to the information or projects mentioned in this document and their terms and conditions will only be made after the ongoing in-depth analysis considering tax, legal, operational, finance, HR and all other relevant aspects have been completed and will be subject to general market conditions and other customary conditions, including governance bodies and shareholders’ approval as well as appropriate processes with the relevant employee representative bodies in accordance with applicable laws.

    About Atos

    Atos is a global leader in digital transformation with circa 78,000 employees and annual revenue of circa €10 billion. European number one in cybersecurity, cloud and high-performance computing, the Group provides tailored end-to-end solutions for all industries in 68 countries. A pioneer in decarbonization services and products, Atos is committed to a secure and decarbonized digital for its clients. Atos is a SE (Societas Europaea) and listed on Euronext Paris.

    The purpose of Atos is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the Group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

    Contacts

    Investor relations:

    David Pierre-Kahn | investors@atos.net | +33 6 28 51 45 96

    Sofiane El Amri | investors@atos.net | +33 6 29 34 85 67

    Individual shareholders: +33 8 05 65 00 75

    Press contact: globalprteam@atos.net

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    The MIL Network –

  • MIL-OSI: ASML publishes agenda Annual General Meeting 2025

    Source: GlobeNewswire (MIL-OSI)

    ASML publishes agenda Annual General Meeting 2025
    Nomination Karien van Gennip as new member of the Supervisory Board

      
    VELDHOVEN, the Netherlands, March 5, 2025 – Today, ASML Holding NV (ASML) has published the agenda for the 2025 Annual General Meeting (AGM) which will be held in ASML’s TWINSCAN Auditorium in Veldhoven on Wednesday, on April 23, 2025, starting at 10:00 CET.

    The AGM will be organized in a hybrid format. Shareholders may attend the AGM in person or virtually.

    The agenda with the explanatory notes and other meeting documents are available on ASML’s website asml.com/agm2025.

    Changes to Supervisory Board
    ASML furthermore announces that Annet Aris will not stand for re-election as a member of the Supervisory Board at the end of her current term, which ends per the 2025 AGM.

    The Supervisory Board expresses its thanks to Annet Aris, who has served on the Supervisory Board since 2015, for her valuable contributions, in particular as Vice Chair of the Supervisory Board and member of the Remuneration, Selection & Nomination and Technology Committees. The Supervisory Board wishes her all the best for the future.

    The Supervisory Board nominates Karien van Gennip for appointment as a member of the Supervisory Board effective from the 2025 AGM. Karien van Gennip, a Dutch citizen, has a wealth of leadership experience spanning professional services, financial services, and public policy. Most recently, between January 2022 and July 2024, Karien van Gennip served as the Minister of Social Affairs and Employment and Deputy Prime Minister in the Dutch government.

    With an educational background in physics from Delft University of Technology, and an MBA from INSEAD, Karien van Gennip worked as a consultant at McKinsey & Company in the early stages of her professional career. She transitioned to leadership roles in the public domain and in finance, serving as a Director Supervision at the Dutch Authority for Financial Markets, Secretary of State of Economic Affairs/Minister for Foreign Trade in the Dutch government between 2003 and 2007, and as a Member of the Dutch Parliament between 2006 and 2008. Karien van Gennip held various management positions at ING between 2008 and 2020, most recently as the CEO of ING France, after which she served as the CEO of Dutch healthcare insurer VGZ until 2022.

    “We are very pleased to nominate Karien van Gennip for appointment to our Supervisory Board. With her broad background and rich experience, the Supervisory Board expects that she will bring great value and new perspectives to the Supervisory Board,” said Nils Andersen, Chair of the Supervisory Board.

    The agenda of the 2025 AGM also includes the nomination to reappoint Birgit Conix as a member of the Supervisory Board for four years, effective April 23, 2025. Terri Kelly has been elected as the Vice-Chair of the Supervisory Board, following the retirement of Annet Aris.

    Media Relations contacts Investor Relations contacts
    Monique Mols +31 6 5284 4418 Jim Kavanagh +31 40 268 3938
    Sarah de Crescenzo +1 925 899 8985 Pete Convertito +1 203 919 1714
    Karen Lo +886 9 397 88635 Peter Cheang +886 3 659 6771

      
    About ASML
    ASML is a leading supplier to the semiconductor industry. The company provides chipmakers with hardware, software and services to mass produce the patterns of integrated circuits (microchips). Together with its partners, ASML drives the advancement of more affordable, more powerful, more energy-efficient microchips. ASML enables groundbreaking technology to solve some of humanity’s toughest challenges, such as in healthcare, energy use and conservation, mobility and agriculture. ASML is a multinational company headquartered in Veldhoven, the Netherlands, with offices across EMEA, the US and Asia. Every day, ASML’s more than 44,000 employees (FTE) challenge the status quo and push technology to new limits. ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. Discover ASML – our products, technology and career opportunities – at www.asml.com.

    Attachment

    The MIL Network –

  • MIL-OSI Asia-Pac: Tech chief begins Spain trip

    Source: Hong Kong Information Services

    Secretary for Innovation, Technology & Industry Prof Sun Dong visited Barcelona in Spain and attended the Mobile World Congress 2025 with a delegation of Hong Kong’s innovation and technology (I&T) sector yesterday.

     

    The Hong Kong Science & Technology Parks Corporation (HKSTPC) and Hong Kong Trade Development Council (HKTDC) co-ordinated the participation of Hong Kong’s I&T enterprises and institutions in the congress to set up the Hong Kong Tech Pavilion, showcasing the latest solutions in advanced electronics and robotics, artificial intelligence and data technology, digital transformation and the startup ecosystem.

     

    Prof Sun attended the networking reception at the pavilion and witnessed the signing of a memorandum of understanding between the HKTDC and the Barcelona City Council to promote trade and business relations between enterprises in the two places, and collaboration between the HKSTPC and 22@Network Barcelona to enhance the global connection of startups.

     

    Afterwards, he met Secretary of State for Science, Innovation, & Universities of Spain Juan Cruz Cigudosa to discuss issues of mutual interest, including strengthening bilateral co-operation in technological innovation and research.

     

    Additionally, Prof Sun and the delegation visited the Barcelona Biomedical Research Park, one of the largest biomedical research clusters in Southern Europe bringing together research centres and researchers in biomedical fields.

     

    The delegation focused on its cross-institutional collaboration model and clinical transformation outcome and applications, as well as various support services provided to the research centres in the park.

     

    They also toured the headquarters of ISDIN, a cosmeceutical brand, and learnt about its solutions for dermatology conditions and research achievements in products.

     

    Prof Sun encouraged the company to leverage on Hong Kong’s unique international business environment as well as its distinctive advantage of connecting with both the Mainland and the world to expand business in Hong Kong, the Mainland and the Asian market.

     

    While attending the Chinese New Year reception hosted by the Hong Kong Economic & Trade Office in Brussels in the evening, the technology chief shared with the leaders and executives of the business and political sectors and I&T community in Barcelona the vision and efforts of Hong Kong to develop into an international I&T centre.

     

    Also during the reception, he had a brief exchange with Consul General of the People’s Republic of China in Barcelona Meng Yuhong.

     

    After arriving in Barcelona a day earlier, Prof Sun visited the Barcelona Activa, a public trading company integrated in the area of Economy & Economic Promotion of Barcelona City Council, and met Chief Executive Officer of Catalonia Trade & Investment Office Agency for Business Competitiveness Jaume Baró.

     

    On the same day, he had dinner with representatives of the participating I&T enterprises and organisations.

     

    Prof Sun will continue his visit in Barcelona today where he plans to deliver a keynote speech at the Global System for Mobile Communications Association Ministerial Programme session of the Mobile World Congress.

    MIL OSI Asia Pacific News –

  • MIL-OSI: ASML publishes 2024 Annual Reports

    Source: GlobeNewswire (MIL-OSI)

    ASML publishes 2024 Annual Reports
    Sustainability statements reported in accordance with the ESRS for the first time

      
    VELDHOVEN, the Netherlands, March 5, 2025 – Today, ASML Holding NV (ASML) has published its 2024 Annual Reports.

    The 2024 Annual Reports (‘Powering technology forward with you’) highlight ASML’s commitment to bring technology forward by developing the tools that enable faster, more powerful and energy-efficient microchips, allowing our customers to address some of society’s biggest challenges. Our ongoing innovation relies on strong partnerships with our stakeholders, and together, we’re creating sustainable solutions. The 2024 Annual Reports reflect on ASML’s business model and strategy, corporate governance, sustainability and financial performance. For the first time, our Annual Reports include sustainability statements in accordance with the European Sustainability Reporting Standards (ESRS). The full reports and introductory video with CFO Roger Dassen are published on our website www.asml.com.

    ASML’s primary accounting standard is US GAAP, the accounting principles generally accepted in the US. In addition to reporting in accordance with US GAAP, ASML also reports in accordance with International Financial Reporting Standards as adopted by the European Union (IFRS) for Dutch statutory purposes. The most significant recurring differences between US GAAP and IFRS that affect ASML concern the capitalization of certain product development costs and accounting for income taxes.

    ASML will file its 2024 Annual Report based on US GAAP on Form 20-F with the US Securities and Exchange Commission (SEC), and its 2024 Annual Report based on IFRS-EU with the Dutch Authority for the Financial Markets (AFM). ASML’s 2024 Annual Report will also be available at www.sec.gov. The 2024 Annual Report based on IFRS will be available at www.afm.nl.

    Media Relations contacts Investor Relations contacts
    Monique Mols +31 6 5284 4418 Jim Kavanagh +31 40 268 3938
    Sarah de Crescenzo +1 925 899 8985 Pete Convertito +1 203 919 1714
    Karen Lo +886 9 397 88635 Peter Cheang +886 3 659 6771

    About ASML
    ASML is a leading supplier to the semiconductor industry. The company provides chipmakers with hardware, software and services to mass produce the patterns of integrated circuits (microchips). Together with its partners, ASML drives the advancement of more affordable, more powerful, more energy-efficient microchips. ASML enables groundbreaking technology to solve some of humanity’s toughest challenges, such as in healthcare, energy use and conservation, mobility and agriculture. ASML is a multinational company headquartered in Veldhoven, the Netherlands, with offices across EMEA, the US and Asia. Every day, ASML’s more than 44,000 employees (FTE) challenge the status quo and push technology to new limits. ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. Discover ASML – our products, technology and career opportunities – at www.asml.com.

    Attachment

    The MIL Network –