NewzIntel.com

Category: Finance

  • MIL-OSI Asia-Pac: Hong Kong to host Green Week in September

    Source: Hong Kong Government special administrative region

    Hong Kong to host Green Week in September
    Hong Kong to host Green Week in September
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    The following is issued on behalf of the Hong Kong Monetary Authority:     Hong Kong will host the second Hong Kong Green Week from September 8 to 12.           The theme of this year is “Forging a Sustainable Future Together”. The week-long event will cover a wide array of sustainability-related topics, providing stakeholders from various regions and sectors with a platform for dialogue and collaboration.           During the week, the Hong Kong Monetary Authority (HKMA) and the International Finance Corporation will co-host the anchor event, Climate Business Forum: Asia Pacific 2025. The Forum will bring together speakers at the forefront of sustainable business and finance for a deep dive into the region’s transition to low-carbon, resilient and inclusive growth. The HKMA will also co-ordinate other events such as conferences, roundtables, workshops and networking events hosted by international organisations, financial institutions, corporates, industry associations, academic institutions and others.  Event details will be announced in due course.

     
    Ends/Monday, March 3, 2025Issued at HKT 14:00

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: 15th National Games Triathlon test event successfully concludes

    Source: Hong Kong Government special administrative region

    15th National Games Triathlon test event successfully concludes
    15th National Games Triathlon test event successfully concludes
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         The National Games Coordination Office (Hong Kong) (NGCO) said today (March 2) that the 15th National Games (NG) Triathlon test event staged at the Central Harbourfront and Victoria Harbour on March 1 and 2 concluded successfully.      A total of around 110 athletes from the Mainland, Macao, and Hong Kong participated in the two-day test event. Among them, 10 athletes (six males and four females), were from Hong Kong. The starting point of the races was located at the waterfront of the Wan Chai Temporary Promenade, while the finish line was set at the Central Harbourfront Event Space. The women’s individual and the men’s individual events were held on the first day and the winners were Ms Yang Yifan and Mr Zhang Xirui from Shandong triathlon team respectively. As for the first-ever mixed relay event in Hong Kong, Shandong team won the gold medal, while Liaoning team took the silver and Hong Kong team claimed the bronze.      The Head of the NGCO, Mr Yeung Tak-keung, said the race route this time has several characteristics, including that the end point was set at the Central Harbourfront Event Space for the first time while there were two transition areas, with one near the swimming area (swim-to-cycling transition) and another one at the Central Harbourfront Event Space (cycling-to-run transition); the athletes ran through a number of Hong Kong landmarks during the races, such as the Hong Kong Convention and Exhibition Centre, the Central Government Offices, the Legislative Council Complex, and the Hong Kong Observation Wheel; the cycling route was between Golden Bauhinia Square in Wan Chai and International Finance Centre in Central, with the backdrop of business district in Central and stunning scenery of Hong Kong’s Victoria Harbour; the cycling route passing through the Central Harbourfront Event Space raised the difficulty and made the event more enjoyable; and a spectator stand with seats was arranged at the Central Harbourfront Event Space to let audiences have a close sight of the races and witness the moments of crossing the line.      The test event was organised by the NGCO under the Culture, Sports and Tourism Bureau and co-organised by the Triathlon Association of Hong Kong China, with the China Triathlon Sports Association as an advisor. The test event covered a wide range of aspects, including operation and procedures of events, organisation of races, venue setup, information systems, security, medical services, accommodation, hospitality, food and beverage, transportation arrangements and contingency plans.      Mr Yeung said the NGCO will review the event procedures and other details with various related organisations and government departments after the test event, with a view to better preparing for the official events to be held at the end of this year.      For information on the 15th NG, the 12th National Games for Persons with Disabilities and the 9th National Special Olympic Games in Hong Kong, please visit the thematic website (www.2025nationalgames.gov.hk/en/index.html), as well as the Facebook page (www.facebook.com/2025nationalgames.hk) and Instagram page (www.instagram.com/2025nationalgames.hk).

     
    Ends/Sunday, March 2, 2025Issued at HKT 21:10

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Text of the Vice-President’s address at IIT Hyderabad (Excerpts)

    Source: Government of India

    Posted On: 02 MAR 2025 6:30PM by PIB Delhi

    Very good afternoon all of you and I had the occasion to say it yesterday, there are no backbenchers in IITs, there are only backbenches. Am I right? Shri Jishnu Dev Verma, Honourable Governor Telangana, Honourable Member of Parliament, Shri M. Raghunandan Rao, Chairman, Board of Governors, IIT Hyderabad, Dr. B. V. R. Mohan Reddy, a man highly acclaimed, highly accoladed and I shared his thoughts with you, mincing no words.

    When IIT Board of Governors is fully involved, things are in a different groove. Professor B. S. Murthy, Director IIT Hyderabad, watch out for him. He is not as he appears, a tough guy. He means business and he means two other things apart from business. Number two is business, Number three, is business. Brevity is the soul of wit, the soul of demonstration of it in his discourse. Every word was amplified, a thought process with which you all are involved. He indicated, we don’t only create ideas, we ideate, we innovate, we accomplish. When you monetise every second, every moment, you do justice not only to yourself but to humanity.

    But you are greatly privileged when you happen to be in Bharat, home to one-sixth of humanity. We are privileged today to have presence of Honourable members of Parliament. Shri Vaddiraju Ravichandra, Shri S. S. Babu, I’ll face them in Rajya Sabha from my chair. You must have seen Rajya Sabha proceedings. They are good cholesterol. Soothing and make positive contributions. It was a great loss to the chairman of Rajya Sabha when Shri Vijay Sai Reddy ji, a very distinguished parliamentarian, ceased to be its member. I wish him great luck.

    The director focused and so did the chairman of the board of governors. An Institution is defined by the infrastructure, but that is easily creatable. That is essential, but not the cutting edge. It is our 300 squad of faculty members with greater recognition who are giving everything to make you future leaders. And let me tell you, there can be no greater honour at the moment than a global benchmark to get such quality education as your Institute.

    Amongst the IITs, in terms of time, you may not have been in the beginning, but by your achievements, by your accomplishments, you have reached that group. My congratulations to the entire faculty. The director must settle me, finding I have a political background of having been in parliament in 1989 when I ministered there, and also taking a vote without spilling out my role as Governor of the state of West Bengal. It reminded me I have to focus on innovation.

    Innovation, boys and girls, is a panacea for what we need and what kills us. It is a one-stop solution to bring about progress, sustainable development, and solve our problems. When it comes to Bharat, a land of homogeneous, demonstrated to the world for over 5,000 years, an Indian mind has a DNA which speaks of genius.

    Let me buttress it by one illustration. We are a nation of 1.4 billion people and we are well spread out. The landscape, rural, semi-urban, urban, metro, and top metros. But when it came to technological penetration and digitisation, just imagine, accessibility of technology and adaptability of those in the villages. Amazing performance, giving us global recognition. If our people-centric policies, if service delivery is so efficient, it is on account of adaptability to technology of our brothers and sisters in the villages. I am son of a farmer.

    Imagine the kind of pride I have. Three times a year, about 100 million farmers get a direct amount in their bank accounts. The government or the system is not important. It is an achievement, but the farmers are equipped on their own to receive it. Now if you go to the base of it, this would not have been possible unless the Prime Minister of the country entertained the grandiose idea that they must have access to banking system.

    And in the shortest space, when it comes to time assessment, over 500 million people have got banking vision. Second, the malice of nepotism, and that is highly unacceptable to our young people, because if patronage is password for an employment or opportunity, you will have a deep frustration.

    And there was a time, not long ago, when power corridors were infested with corrupt elements. Decision-making was leveraged extraordinarily. Patronage was a password for success. There was in that country a privileged pedigree. They entertained the idea that we are above law. We are beyond the reach of law. Nothing could be more frustrating toyoung minds. I faced it during my time.

    Imagine my pain, admitted to an IIT, had no money, couldn’t go. Imagine my pain, as an advocate, had to work very hard to get a loan of 6000 rupees for my digestion. Vividly I had before me the manager who said, I can give you without paying guarantee because I find you are a good lawyer, and look at the transformative change you are witnessing. Start-ups, unicorns emanating from tier 2 cities.

    You are, and you try, Gen Z and Generation Next and those who are before me. You are the most vital stakeholders in democracy, in progress of this nation. Right now, if you have to see where we are heading, then we have to find the ecosystem. A nation’s state is fundamental because if the nation is let say at war, things go horizontally. So nation’s state is important. So is the national movement. Also its growth trajectory, the destination it has for itself, its ecosystem.

    And when we examine these things, reality check, our nation is in a top global group. World technological leaders, when it comes to finer aspects of development like Quantum computing or Green Hydrogen mission or commercialisation of 6G, areas which will appeal you not to ordinary youth, but we are in the big league of nations.

    Artificial intelligence is bringing about paradigm shift every moment. It is introduction of an era, a new kind of industrial revolution with greater potential, challenges and opportunities. This has a big basket of opportunities for boys and girls. Let me remind you one aspect. I had the occasion to face terrible panks of pain in 1990.

    I was a Minister and our gold had to be shipped out by air to be placed to two banks in Switzerland to sustain our fiscal credibility because our foreign exchange could not last even for a few weeks, not to speak of months.

    It was in doldrums, dangerously moving around 1 billion US dollars. This is not a concern to us at all at the moment. We are 700 billion, but concern to you is we are having trade deficit with a neighbouring country to the extent of 90 billion US dollars, and if I go by the figures recently released, the input is 17% year on year and the output is only 11%. Solution to that has to be found by you.

    You will have to focus and only you can do it. I do agree that young minds like you have capacity to bring about big transformative change. But then you need some support. And one support is I seek to steer your minds, minds of the parliamentarians, minds of industry leaders, your chairman represents that group. Academia, your director represents it.

    Economic nationalism. Much of the trade deficit that is draining out our foreign exchange to the tune of hundreds of billions. If one country is around 90 billion US dollars, you can imagine when we cumulatively assess it.

    Why should this country import what is available? Number two, if it is avoidable, can’t our genius find a solution by way of substitution? and three, our raw materials leave our shores, pronouncing on our inability to add value to the raw material. In the process, we deprive our people of work on both accounts, avoidable imports and export of raw material. The blunt entrepreneurship, this mindset has to dominate us.

    The role of the people is crucial, but then the greater role is of those in industry, commerce, business and trade. Can’t they sit on one table through their associations and take a call? That, I would urge, should be taken.

    While I was examining your motto and logo, both are critical, and I am happy by what I have gathered on my own and what has been asserted by the director and chairman. Motto: Inventing and innovating in Technology for Humanity.

    Logo: Expansion and Growth of Knowledge, and this is drawn from Telugu. Let me reflect on some changes that are worrisomely alarming, concerning. India is a land of rich languages.

    Sanskrit, Bangla, Hindi, Tamil, Telugu, Kannada, several languages. Even in Parliament, simultaneous translation takes place in 22 languages. Our civilisational ethos tells us inclusivity. Should there be confrontational stance on language in land of Bharat?

    What a moment of pride for everyone when languages were put in the classical language status recently. We have to nurture every language. Our languages have global outreach. They are gold mine of literature, and the literary pieces have knowledge and wisdom. Vedas, Puranas, our epics, Ramayana, Mahabharata, Gita.

    And therefore I call upon youth of the country, Social media has given you the power to take a call. If there is deviation from our commitment to nationalism, if there is assessment of development through partisan prism, we need to be watchdogs.

    Use the power to blunt the narratives that emanate from forces that are financially fuelled only to injure Bharat. Because you are at the moment living in times that indicate hope and possibility. Your basket is limitless.

    Look at sea surface, deep sea, ground, underground, sky or space. Your opportunities and challenges are there. Mid-blue economy or space economy.

    Let me pose a question to you. If the International Monetary Fund has asserted that India, Bharat at the moment is a hotspot, a global centre, most attractive one for investment and opportunity, is it for government jobs? Certainly not. Therefore, that opportunity is for you also.

    Investment, these days I can tell you with my exposure in governance, is not a problem at all. You would have seen in start-ups investment, apart from the governmental affirmative policies, innovative framework, top business leaders investing in start-ups. The hierarchical succession mechanism in industrial business has collapsed.

    Tech tycoons are emerging. There was a time when we could not see a single Indian soul working in global top corporates at any level, and now boys and girls, there is not a single global corporate of consequence where an Indian genius is not contributing at the top level.

    When that is the scenario, you have to make a difference. You have to catalyse the change which you think is best for the nation. And I would say, don’t just catalyse, be the epicentre of change.

    Another centre of change, never ever keep a brilliant idea in your mind. Your mind is not a parking space. What a parking place.

    You do greatest injustice to you and to humanity that an idea has occurred to you and you fear experimentation. You fear failure. Boys and girls’ fear of failure is a myth.

    Chandrayaan 2,I was governor of the state of West Bengal. It was September, I think, 2019. I think 2019, and I was in the company of about 500 school-going children, young boys and girls. Chandrayaan 2 landed close but could not touch the lunar surface. For some who are recipe for chaos, some would define nothing but negativity. For some who see nothing but only taint in your white cloth, they said, failure, so much money, but if you examine success of Chandrayaan 3, was rooted in the foundation laid by Chandrayaan 2, you all will realise first attempt success has eluded most great innovations.

    Let me focus on reality of research and innovation. First our corporates. I am not critical of them, I am critique. They must invest in research. They must invest in research for development and innovation. They must compete with global giants, because this investment is not for the beneficiary student, boy or girl of your Institute or other Institutes.

    It is for benefit of our present, our future. And trust me, we have had a big change in our strategic system globally. Conventional war system has collapsed. It is diplomacy that defines. Innovation and research give us great cutting edge in soft diplomacy. We become a great power. Therefore I appeal from this podium. Corporates, examine what your peers are doing in the West. Please come closer to them.

    Second, look at global Universities. Their endowment funds in billions of US dollars. I had the occasion to glance. Oh my god, crossing in 50 billion US dollars. If you see the top list, why don’t we have it? I hope, Governor of the board, we started in 2008.

    We have Alumni. Let our alumni plow in the corpus. Amount doesn’t matter. It is the spirit of contribution that will generate a connect with the Institute.

    A pride for them also. I have mooted an idea. I hope someone takes it.

    We have institutes of excellence, IITs, IIMs and other institutes. Their aluminium associations must form into a confederation of associations of aluminium. It will be a top world benchmark think tank for policy making.

    It can spur research and innovation. All I am indicating is that these thoughts which I have shared are only indicative, because you are discerning minds, you can on your own work about it.

    If a man like me, who had such a successful career, I can say so, now I am not a senior advocate anymore, to be designated senior in less than 10 and a half years of my practise. No one has done it. I still feel the void of not getting admission to IIT. You are there. I still have the void.

    The position of the Governor or Vice-President does not compensate it. And therefore, I am your Eklavya. I am trying to persuade you.

    I would conclude, I invite in batches students of the IIT and the faculty to be my guests for a visit to Indian parliament, and I would have the occasion and I would gather some people who need to be educated. No pun intended.

    We will have luncheon, brainstorming sessions. I will depute an Officer from my secretariat to be in touch with the Registrar, and this will be done before I take off in my helicopter. I hope you will respond to me. I go with a deep sense of satisfaction, optimism and confidence.

    Though I have not been able to share my thoughts in completeness, but I know, I may have sent or short changed you. But you have received what I mean to convey.

    Thank you so much for your time.

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    JK/RC/SM

    (Release ID: 2107587) Visitor Counter : 34

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Coal Ministry to Host Third Roadshow on Commercial Coal Mine Auctions in Gandhinagar, Gujarat Tomorrow

    Source: Government of India

    Posted On: 02 MAR 2025 1:35PM by PIB Delhi

    As part of its ongoing efforts to promote commercial coal mining and attract private investment, the Ministry of Coal is organizing a Roadshow on Commercial Coal Mine Auctions & Investment Opportunities in Gandhinagar, Gujarat tomorrow. The event aims to bring together industry stakeholders, potential investors, and policymakers to accelerate private sector participation in India’s coal sector.

     

    Union Minister of State for Coal and Mines Shri Satish Chandra Dubey will grace the occasion as the Chief Guest. Joining him will be Ms. Rupinder Brar, Additional Secretary, Ministry of Coal, along with senior officers of the Ministry to provide insights into the auction process, investments landscape and Government initiative driving growth in the sector.

    The Ministry of Coal has been actively engaging with stakeholders through a series of roadshows to promote commercial coal mining. After successful events in Kolkata and Mumbai, the Ministry is now organizing a roadshow in Gandhinagar to attract potential investors and industry leaders. The upcoming 12th round of commercial coalmine auctions is expected to commence in the second week of March, further reinforcing the Government’s commitment to enhancing domestic coal production and ensuring energy security.

    The roadshow provides forum to highlight the Government’s initiatives to boost coal production, enhance efficiency, policy support and drive self-reliance in the sector. Participants will gain firsthand knowledge of availability of coal blocks, investment opportunities, and the ease of doing business in India’s coal industry. Experts will also highlight advancements in coal technology, sustainability measures, and policy reforms aimed at fostering a transparent and competitive marketplace.

    The commercial coal mine auctions have been instrumental in unlocking the true potential of India’s coal reserves, attracting domestic and international players, and reducing import dependency. With investor-friendly policies and technological advancements, the Ministry of Coal is committed to ensuring a robust and sustainable coal sector that aligns with the country’s energy security and economic growth goals.

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    Shuhaib T

    (Release ID: 2107507) Visitor Counter : 75

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: NITI AAYOG LAUNCHES REPORT ON “FROM BORROWERS TO BUILDERS: WOMEN’S ROLE IN INDIA’S FINANCIAL GROWTH STORY”

    Source: Government of India

    NITI AAYOG LAUNCHES REPORT ON “FROM BORROWERS TO BUILDERS: WOMEN’S ROLE IN INDIA’S FINANCIAL GROWTH STORY”

    Report published in collaboration with Ransunion Cibil and Microsave

    Shows 42% Year-Over-Year Growth in Women Borrowers

    Posted On: 03 MAR 2025 2:05PM by PIB Delhi

    NITI Aayog today launched the report titled “From Borrowers to Builders: Women’s Role in India’s Financial Growth Story”. The report launched by CEO NITI Aayog, Shri B.V.R. Subrahmanyam reveals that more women in India are seeking credit and actively monitoring their credit scores. As of December 2024, 27 million women were monitoring their credit, marking a 42% increase from the previous year, signaling growing financial awareness. The report has been published by TransUnion CIBIL, Women Entrepreneurship Platform’s (WEP) of NITI Aayog and MicroSave Consulting (MSC).

    During the launch, Shri B.V.R. Subrahmanyam, CEO of NITI Aayog, highlighted the critical role of access to finance in empowering women entrepreneurs. He stated, “the government recognizes that access to finance is a fundamental enabler for women’s entrepreneurship. The Women Entrepreneurship Platform (WEP) continues to work towards building an inclusive ecosystem that fosters financial literacy, access to credit, mentorship, and market linkages. However, ensuring equitable financial access requires a collective effort. The role of financial institutions in designing inclusive products tailored to women’s needs, along with policy initiatives that address structural barriers, will be instrumental in accelerating this momentum. To achieve this goal under the aegis of WEP, Financing Women Collaborative (FWC) has been constituted. We seek more financial sector stakeholders to join FWC and contribute to this mission.”

    Anna Roy, Principal Economic Advisor, NITI Aayog and Mission Director WEP, said: “Encouraging women entrepreneurship is one way of ensuring employment opportunities for women entering the workforce in India. It also serves as a viable strategy for accelerating equitable economic growth. Promoting women’s entrepreneurship could create employment opportunities for 150 to 170 million people while driving greater participation from women in the labour force.

    The report highlights that women’s share of the total self-monitoring base increased to 19.43% in December 2024, up from 17.89% in 2023. More women from non-metro regions are actively self-monitoring their credit compared to those in metro areas, with growth of 48% in non-metro regions and 30% in metro areas. In 2024, Maharashtra, Tamil Nadu, Karnataka, Uttar Pradesh and Telangana accounted for 49% of all self-monitoring women, with the southern region leading at 10.2 million. Northern and central states, including Rajasthan, Uttar Pradesh, and Madhya Pradesh, saw the highest compounded annual growth rates (CAGR) in active women borrowers over the past five years.

    Since 2019, women’s share in business loan origination has increased by 14% and their share in gold loans has grown by 6%, with women accounting for 35% of business borrowers by December 2024. However, challenges such as credit aversion, poor banking experiences, barriers to credit readiness and issues with collateral and guarantors persist. With rising credit awareness and improved scores, financial institutions have the opportunity to offer gender-smart financial products tailored to women’s unique needs.

     

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    MJPS/SR

    (Release ID: 2107708) Visitor Counter : 185

    MIL OSI Asia Pacific News –

  • MIL-OSI: 9/2025・Trifork Group AG – Share-based Incentive Program 2025

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 9 / 2025
    Schindellegi, Switzerland – 3 March 2025


    Share-based incentive program 2025

    Trifork Group AG (“Trifork”) has granted restricted share units (“RSUs”) under the existing employee long-term share-based incentive program (“ELTIP”) approved by the Board of Directors in 2021.

    The second ELTIP 2025 (“ELTIP 2025b”) is covering the grant in March 2025 to the Executive Managmeent of the Trifork Group.

    The ELTIP 2025b is based on RSUs and Executive Management variable remuneration for its performance in financial year 2024. RSUs granted will be subject to graded vesting over a three-year period.

    Further details about the ELTIP 2025b are stated below:

    Participants Executive Management of the Trifork Group eligible for variable remuneration for financial year 2024.
    Total 1 employee.
    Number of RSUs A total of 14,653 RSUs is allocated under the ELTIP 2025b.
    The number of RSUs is calculated by taking the respective variable remuneration amount and applying the weighted average share price for Trifork’s shares of the last three trading days of 2024.
    Granting RSUs comprised by the ELTIP 2025b are granted in March 2025.
    Vesting RSUs will vest over a three-year period with 1/3 of the RSUs vesting each year. Vesting is not conditional upon the achievement of any financial or non-financial targets but is conditional upon the participating employee remaining employed with the Trifork Group throughout the vesting period or becoming a good leaver during the vesting period as well as the participating employee having complied in all respects with the terms and conditions of the ELTIP 2025b.
    Objective Attraction and retention of employees in selected jurisdictions.
    Conversion Once vested and not lapsed in accordance with the terms and conditions of the ELTIP 2025b, each RSU will entitle the holder to receive one Trifork share.
    Conditions RSUs are granted based on the conversion of the respective variable remuneration for each participating employee. 
    The ELTIP 2025b is subject to customary conditions.
    Allocation & theoretical value The allocation is based on the weighted average share price of the last 3 trading days of 2024 (DKK 75.08). Dividing the converting salary by this amount results in the number of RSUs to be granted. The converting total amounts to DKK 1,100,154 (EUR 147,477) and 14,653 RSUs.
      The theoretical value for the RSUs is the market price of the Trifork share at grant date minus the expected dividends for the portions vesting after one, two and three years.


    Information and questions
    Frederik Svanholm, Group Investment Director, frsv@trifork.com, +41 79 357 73 17


    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.

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    The MIL Network –

  • MIL-OSI: Valour Expands Digital Asset Offerings with the Launch of Valour Dogecoin, Valour Aptos, Valour Sui, and Valour Render ETPs on Börse Frankfurt in Germany

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 03, 2025 (GLOBE NEWSWIRE) — DeFi Technologies Inc. (the “Company” or “DeFi Technologies”) (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF), a financial technology company that pioneers the convergence of traditional capital markets with the world of decentralised finance (“DeFi”), is pleased to announce that its subsidiary Valour Inc. (“Valour“), a leading issuer of exchange traded products (“ETPs“) that provide simplified access to digital assets, has launched of four new digital asset ETPs on the Börse Frankfurt exchange: Valour Dogecoin (DOGE) EUR ETP, Valour Aptos (APT) EUR ETP, Valour Sui (SUI) EUR ETP, and Valour Render (RENDER) EUR ETP. These new products expand Valour’s commitment to offering investors seamless, secure, and cost-effective exposure to the most innovative digital assets in the market.

    Introducing New ETPs for Emerging Digital Assets

    Valour Dogecoin (DOGE) EUR ETP (ISIN: CH1108679791)

    Dogecoin (DOGE) is one of the most recognized and actively used cryptocurrencies, originally introduced in 2013 as a parody but now serving as a widely adopted digital currency. With a market capitalization of approximately $30.64 billion, DOGE ranks as the 8th largest digital asset globally. It is known for its strong community, fast transaction speeds, and usability for microtransactions, tipping, and merchant payments. The Valour Dogecoin ETP allows investors to gain exposure to DOGE’s performance without the complexities of direct cryptocurrency ownership, featuring a competitive management fee of 1.9%.

    Valour Aptos (APT) EUR ETP (ISIN: CH1108679783)

    Aptos (APT) is a next-generation Layer 1 blockchain designed for scalability, reliability, and security. Powered by its innovative Move programming language, Aptos enables fast transactions and a developer-friendly ecosystem. It is focused on advancing Web3 usability and adoption, providing infrastructure for NFTs, DeFi, and beyond. With a market capitalization of $6.19 billion, Aptos ranks 31st globally among digital assets. The Valour Aptos ETP grants investors seamless exposure to the Aptos blockchain ecosystem.

    Valour Sui (SUI) EUR ETP (ISIN: CH1108679080)

    Sui (SUI) is an innovative blockchain designed for high throughput and instant finality, making it ideal for applications such as gaming and finance. Sui utilizes an object-centric approach that allows for the independent validation of transactions, leveraging a Byzantine fault-tolerant proof-of-stake (PoS) consensus mechanism. With a market capitalization of $28.01 billion, Sui ranks 15th among digital assets worldwide. The Valour Sui ETP provides investors with access to this advanced blockchain, featuring a 1.9% management fee.

    Valour Render (RENDER) EUR ETP (ISIN: CH1108679783)

    Render (RENDER) is the native cryptocurrency of the Render Network, a decentralized GPU-based rendering platform that optimizes computational power for visual effects, gaming, and digital design. The Render Network enables cost-effective and scalable rendering solutions, fostering innovation across the creative industries. With a market capitalization of $2.26 billion, Render ranks 49th globally among digital assets. The Valour Render ETP offers investors exposure to the expanding world of decentralized computing and digital content creation.

    Bringing Innovation to European Investors

    With the introduction of these four new ETPs, Valour continues to expand its portfolio of digital asset investment products, offering European investors diversified and institutional-grade access to the cryptocurrency market. Valour’s ETPs provide a seamless entry point for investors looking to gain exposure to emerging blockchain technologies without the need for direct ownership or complex custody solutions.

    “We are excited to bring Valour Dogecoin, Valour Aptos, Valour Sui, and Valour Render ETPs to the Börse Frankfurt exchange,” said Olivier Roussy Newton, CEO of Valour. “These new listings underscore our commitment to delivering innovative and accessible digital asset investment solutions to the European market. By offering secure and transparent exposure to some of the most promising protocols, we continue to drive the adoption of digital assets among institutional and retail investors alike.”

    “After successfully launching 20 products in the Nordics in December, we are now enhancing our product range in Germany with the most sought-after underlying digital assets. Investor demand for diversified crypto exposure continues to rise, and Aptos, Sui, Render, and Dogecoin stand out as some of the most compelling assets in the market. This launch reinforces our commitment to providing institutional-grade access to the digital asset space, aligned with market trends and investor needs.” said Johanna Belitz, Head of Nordics

    About DeFi Technologies
    DeFi Technologies Inc. (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF) is a financial technology company that pioneers the convergence of traditional capital markets with the world of decentralized finance (DeFi). With a dedicated focus on industry-leading Web3 technologies, DeFi Technologies aims to provide widespread investor access to the future of finance. Backed by an esteemed team of experts with extensive experience in financial markets and digital assets, we are committed to revolutionising the way individuals and institutions interact with the evolving financial ecosystem. Follow DeFi Technologies on Linkedin and Twitter, and for more details, visit https://defi.tech/  

    About Valour
    Valour Inc. and Valour Digital Securities Limited (together, “Valour”) issues exchange traded products (“ETPs”) that enable retail and institutional investors to access digital assets in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of DeFi Technologies Inc. (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF). For more information about Valour, to subscribe, or to receive updates, visit valour.com.

    Cautionary note regarding forward-looking information:
    This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the listing of ETPs; the development and prospects of the underlying digital assets; investor confidence in Valour’s ETPs; investor interest and confidence in digital assets; the regulatory environment with respect to the growth and adoption of decentralized finance and digital assets; the pursuit by the Company and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited the growth and development of decentralised finance and digital asset sector; rules and regulations with respect to decentralised finance and digital assets; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

    THE CBOE CANADA EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

    For further information, please contact:

    Olivier Roussy Newton
    Chief Executive Officer
    ir@defi.tech
    (323) 537-7681

    The MIL Network –

  • MIL-OSI: Magma Finance: The Next Generation DEX on Sui

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, March 03, 2025 (GLOBE NEWSWIRE) — The decentralized finance (DeFi) landscape is constantly evolving, with new innovations pushing the boundaries of what’s possible. At the heart of this evolution are decentralized exchanges (DEXs), which have become the backbone of DeFi by enabling trustless, permissionless trading. However, as the space matures, the need for sustainable liquidity, aligned incentives, and scalable infrastructure has never been greater.

    Here we introduce Magma Finance, a next-generation ve(3,3) DEX built on the Sui network. Inspired by the success of protocols like Uniswap, Curve, Shadow, and Aerodrome, Magma Finance is designed to bring the power of ve(3,3) to Sui, creating a vibrant and sustainable liquidity ecosystem.

    Why Build on Sui?

    The Sui network is a next-generation Layer 1 blockchain designed for scalability, speed, and security. For a protocol like Magma Finance, Sui offers several key advantages:

    • Unparalleled Speed: Sui’s unique architecture enables near-instant transaction finality, ensuring a seamless trading experience for users.
    • Low Fees: Sui’s efficient consensus mechanism keeps transaction costs low, making it accessible to traders and liquidity providers of all sizes.
    • High Throughput: Sui can handle thousands of transactions per second, making it ideal for high-volume DeFi applications.
    • Developer-Friendly: Sui’s Move programming language and robust tooling make it easy to build and deploy innovative DeFi protocols.
    • Growing Ecosystem: As a rapidly expanding blockchain, Sui offers Magma Finance the opportunity to be a first-mover in a thriving ecosystem.

    By building on Sui, Magma Finance is positioned to leverage these cutting-edge features to deliver a superior trading experience, attract deep liquidity, and foster a strong community.

    The Evolution of DEXs: From Fragmentation to Collaboration

    Decentralized exchanges have come a long way since the early days of DeFi. Platforms like Uniswap and SushiSwap introduced automated market-making (AMM) mechanisms, enabling users to trade assets without intermediaries. However, as the DeFi ecosystem grew, so did its challenges:

    • Liquidity Fragmentation: Liquidity is often spread thin across multiple platforms, leading to inefficiencies and higher slippage.
    • Misaligned Incentives: Traditional AMMs struggle to balance the needs of liquidity providers (LPs), traders, and token holders.
    • Unsustainable Tokenomics: Many protocols rely on inflationary token emissions to attract users, which can erode long-term value.

    To address these challenges, a new wave of DEXs leveraging the ve(3,3) model has emerged. Protocols like Velodrome, Aerodrome, and Thena have demonstrated the power of this model, fostering deep liquidity, aligned incentives, and strong communities.

    What is ve(3,3)?

    The ve(3,3) model is a new approach to decentralized exchange design, combining vote-escrowed governance with game theory principles to create a self-reinforcing ecosystem.

    How it works:

    • ve (Vote-Escrowed): Users lock their tokens to receive veTokens, granting them governance power and enhanced rewards.
    • (3,3): A reference to game theory, where cooperation between stakeholders (traders, LPs, and token holders) leads to optimal outcomes for all participants.

    Key Benefits of ve(3,3):

    • Deep Liquidity: Long-term token locking attracts concentrated liquidity, reducing slippage and improving trading efficiency.
    • Aligned Incentives: The model ensures that LPs, traders, and token holders all benefit from the protocol’s success.
    • Sustainable Tokenomics: Fee sharing and controlled emissions create a sustainable revenue stream for participants.
    • Community Governance: veToken holders can direct emissions to their preferred pools, ensuring liquidity is allocated where it’s needed most.

    Magma Finance: The ve(3,3) DEX on Sui

    Building on the success of ve(3,3) pioneers like Velodrome, Aerodrome, and Thena, Magma Finance is bringing this innovative model to the Sui network.

    What Sets Magma Apart?

    • Native ve(3,3) Implementation: Magma Finance leverages the proven ve(3,3) model to create a sustainable and efficient liquidity ecosystem on Sui.
    • User-Centric Design: Magma is designed with a focus on simplicity and accessibility, offering an intuitive interface for traders and LPs.
    • Community-Driven Governance: Magma empowers its community through vote-escrowed governance, ensuring the protocol evolves in line with user needs.
    • Cross-Chain Potential: While Magma is native to Sui, its architecture is designed to support cross-chain liquidity and interoperability in the future.

    Magma Finance’s Growth and TVL Expansion

    Since its launch, Magma Finance has demonstrated strong adoption and liquidity growth. The protocol has attracted increasing participation from liquidity providers, with Total Value Locked (TVL) showing significant expansion over the past weeks.

    • As of February 16, 2025, Magma Finance reached $2,000,000 in TVL.
    • By February 21, 2025, the protocol’s TVL surged to $3,700,000.

    This rapid increase in liquidity highlights the confidence of users and investors in Magma Finance’s model and its role in the growing Sui DeFi ecosystem. The accelerating TVL growth suggests an increasing number of market participants are committing to the platform, positioning it as a leading liquidity hub on Sui.

    The Magma Vision: A Collaborative Future

    Magma Finance is more than just a DEX—it’s a community-driven liquidity hub designed to fuel the growth of the Sui ecosystem. By combining the proven ve(3,3) model with Sui’s cutting-edge technology, Magma is poised to become a cornerstone of DeFi on Sui.

    Our Commitment:

    • Sustainability: Magma is built to last, with tokenomics designed to minimize inflation and maximize long-term value.
    • Innovation: We’re constantly exploring new ways to enhance the protocol and deliver value to our users.
    • Community: Magma is powered by its community, and we’re committed to fostering a vibrant and inclusive ecosystem.

    As of the current release, the protocol has attracted more than $2,000,000 of Total Value Locked.

    Press Contact:
    Louise
    ops@magmafinance.io

    Disclaimer: This press release is provided by Magma. 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/bad03c54-528d-4ee4-8655-ce50602c4df2

    The MIL Network –

  • MIL-OSI: Exabits Partners with GAIB to Simplify AI Access with New Cloud Infrastructure Through Tokenized Compute Resources

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, March 03, 2025 (GLOBE NEWSWIRE) — Exabits, the compute baselayer transforming GPU (graphic processing unit) clusters for enterprises and a supplier to decentralized cloud compute companies, and GAIB, the first economic layer for AI and compute financialization, creating a new type of yield bearing assets backed by real AI demands, today announced a strategic partnership to revolutionize how GPU infrastructure is acquired, scaled, and monetized. By combining Exabits’ high-performance AI compute technology with GAIB’s tokenized GPU investment platform, this partnership will unlock new capital flows, expand GPU accessibility, and provide investors with a direct stake in the growing AI compute economy.

    The collaboration addresses a critical challenge in AI and cloud computing—the high cost and limited access to high-performance GPUs. With demand for AI compute skyrocketing, Exabits and GAIB are introducing a scalable investment model that allows institutions, enterprises, and investors to participate in the growth of AI compute infrastructure through tokenized GPU assets.

    Transforming GPU Compute into a High-Value Investment Asset

    GPUs are the core infrastructure powering AI, machine learning, and high-performance computing, yet access remains concentrated among a few large cloud providers. The Exabits-GAIB partnership introduces a new financial model that enables:

    • Ownership of Tokenized GPUs and Their Yields: Investors gain fractional ownership and earn returns tied to real-world GPU utilization.
    • Cloud Compute Expansion: Exabits will scale its AI-ready GPU infrastructure, supplying more compute power to enterprises, DeSci, gaming, and AI-driven industries.
    • New Liquidity Channels: GAIB’s tokenization model and DeFi-based financial instruments enable Exabits to scale more efficiently without relying solely on traditional capital-raising methods.

    “The AI industry is experiencing an unprecedented demand for compute power, but access remains costly and centralized,” said Dr Hoansoo Lee, Co-Founder of Exabits. “By tokenizing GPU assets with GAIB, we’re introducing a new investment model that allows institutional and retail investors to participate in AI’s explosive growth while expanding our infrastructure to meet market needs.”

    “GAIB is building the AiFi economy, which signifies a paradigm shift in how we perceive and utilize computational resources, particularly in the context of artificial intelligence and machine learning., and this partnership with Exabits provides additional support for our vision,” said Kony, CEO of GAIB. “We’re making GPU investments more accessible, liquid, and scalable—bridging the gap between capital markets and the AI revolution.”

    How the Partnership Works

    GPU and Their Yield Tokenization: Transforming Compute Assets into Tradable Financial Products

    Exabits will acquire GPUs through GAIB’s tokenization platform, enabling investors to own a stake in real-world AI compute infrastructure.

    • Exabits’ Role: Identify GPUs for tokenization, ensure transparent asset registration, and deploy them into enterprise-ready cloud compute networks.
    • GAIB’s Role: Develop tokenization protocols, create GPU-based investment products, and manage regulatory compliance.

    Unlocking New Investment Opportunities in AI Compute

    The partnership will provide global investors direct access to GPU-powered cloud infrastructure through structured financial products.

    • Exabits: Establishes hardware procurement needs, enables fractional GPU ownership, and integrates with GAIB’s capital injection models.
    • GAIB: Provides a transparent investment ledger, implements a yield-bearing mechanism that allows investors to earn passive income simply by holding the asset and ensures regulatory compliance.

    Liquidity & Scaling: Expanding AI Infrastructure Without Traditional Funding Barriers

    By leveraging GAIB’s financial instruments, Exabits can scale its GPU infrastructure faster, reducing dependence on traditional VC or debt financing.

    • Exabits: Provides real-time GPU utilization and ROI insights, ensuring investors benefit from tokenized GPU revenues.
    • GAIB: Facilitates buying, selling, and staking of GPU-backed tokens, creating a liquid investment market for AI compute assets.

    Enterprise-Grade Cloud Infrastructure for AI Innovation

    Exabits’ cloud platform will power GAIB’s compute offerings, allowing enterprises to access AI-ready infrastructure at scale.

    Why This Matters: The Future of AI Compute is an Investable Asset

    This partnership is a breakthrough for AI, institutional investors, and the compute economy:
    ✔ For Investors: A new way to earn yield from real, high-demand AI compute assets.
    ✔ For Enterprises: Scalable, high-performance AI infrastructure without pure reliance on traditional cloud providers.
    ✔ For the AI Industry: A more efficient, market-driven model for GPU access and scaling.

    Join the AI Compute Revolution

    The Exabits-GAIB partnership sets a new precedent for how AI infrastructure is funded, scaled, and monetized. As demand for AI compute accelerates, this collaboration will ensure that GPU access is no longer a bottleneck but an investment opportunity for enterprises, investors, and the broader AI ecosystem.

    For more information on how to participate, visit: www.exabits.xyz or https://www.gaib.ai/

    About Exabits

    Exabits is the baselayer for AI compute, providing high-performance cloud infrastructure to enterprises, researchers, and developers. Through proprietary technology and GPU tokenization, Exabits is redefining the future of AI, DeSci, and machine learning compute.

    About GAIB

    GAIB is the first economic layer for AI compute, creating a new type of yield bearing assets backed by real AI demands. It tokenizes enterprise-grade GPUs and their yields, creating a decentralized liquid market for GPU financing, addressing the growing demand for high-performance computing while giving investors direct exposure to GPU assets. The platform enables a variety of DeFi use cases to be on top, including GPU backed stablecoins, lending and borrowing, options and futures, and various structured products.

    Contact:

    Exabits
    contact@exabits.ai

    GAIB
    contact@gaib.ai

    Press Contact: Ari
    ari@reblonde.com

    Disclaimer: This press release is provided by Exabits. 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/d9df3469-8ff4-46dc-a833-a2ed57a84953

    The MIL Network –

  • MIL-OSI: Divestment of Energy & Marine business completed

    Source: GlobeNewswire (MIL-OSI)

    In continuation of company announcement no. 39/2024 of 1 July 2024 regarding the divestment of Alm. Brand Forsikring A/S’s Energy & Marine business to Gard Marine & Energy Insurance (Europe) AS, Alm. Brand Group is pleased to announce that the Danish Financial Supervisory Authority has approved the business transfer. The sale of the Energy & Marine business has been completed today.

    Alm. Brand Group still expects to distribute DKK 1.6 billion related to the divestment of the Energy & Marine business. This distribution is expected to take place in the form of share buyback to be initiated soon after closing of the transaction.

    Contact
    Please direct any questions regarding this announcement to:

    Investors and equity analysts:                             

    Head of IR, Rating and ESG reporting                 
    Mads Thinggaard                                                 
    Mobile no. +45 2025 5469         

    Press:                                                                                      

    Media Relations Manager
    Mikkel Luplau Schmidt
    Mobile no. +45 2052 3883

    Attachment

    The MIL Network –

  • MIL-OSI: 8/2025・Trifork Group AG – Reporting of transactions made by persons discharging managerial responsibilities

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 8 / 2025
    Schindellegi, Switzerland – 3 March 2025


    Reporting of transactions made by persons discharging managerial responsibilities

    Pursuant to the Market Abuse Regulation Article 19, Trifork Group AG (Swiss company registration number CHE-474.101.854) (“Trifork”) hereby notifies receipt of information of the following transactions made by persons discharging managerial responsibilities in Trifork in connection with automatic vesting of Restricted Stock Units (“RSUs”) granted under the terms of a long-term incentive program (the “LTIP“) in accordance with Trifork’s Remuneration Policy.

    1. Details of the person discharging managerial responsibilities/person closely associated
    a) Name Jørn Larsen
    2. Reason for the notification
    a) Position/status CEO
    b) Initial notification/
    Amendment    		 Initial notification
    3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
    a) Name Trifork Group AG
    b) LEI 8945004BYZKXPESTBL36
    4.1 Details of the transaction(s)
    a) Description of the financial instrument, type of instrument

    Identification code

    		 Shares

    ISIN CH1111227810
    b) Nature of the transaction Automatic vesting of 19,990 RSUs granted under the terms of the LTIP. The 19,990 shares were previously held by Trifork as treasury shares.
    c) Price(s) and volume(s) Price(s) Volume(s)
    DKK 0 19,990
    d) Aggregated information
    —
    Aggregated volume —
    Price    		 N/A
    e) Date of the transaction 3 March 2025
    f) Place of the transaction Outside a trading venue
    1. Details of the person discharging managerial responsibilities/person closely associated
    a) Name Kristian Wulf-Andersen
    2. Reason for the notification
    a) Position/status CFO
    b) Initial notification/
    Amendment    		 Initial notification
    3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
    a) Name Trifork Group AG
    b) LEI 8945004BYZKXPESTBL36
    4.1 Details of the transaction(s)
    a) Description of the financial instrument, type of instrument

    Identification code

    		 Shares

    ISIN CH1111227810
    b) Nature of the transaction Automatic vesting of 13,321 RSUs granted under the terms of the LTIP. The 13,321 shares were previously held by Trifork as treasury shares.
    c) Price(s) and volume(s) Price(s) Volume(s)
    DKK 0 13,321
    d) Aggregated information
    —
    Aggregated volume —
    Price    		 N/A
    e) Date of the transaction 3 March 2025
    f) Place of the transaction Outside a trading venue


    Information and questions
    Frederik Svanholm, Group Investment Director, frsv@trifork.com, +41 79 357 73 17


    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.

    Attachment

    The MIL Network –

  • MIL-OSI China: Suggestions, proposals at NPC & CPPCC sessions deliver tangible benefits

    Source: China State Council Information Office 2

    The Chinese government has turned thousands of suggestions and proposals from national lawmakers and political advisors at the country’s top political meetings last year into concrete actions, benefiting people’s livelihoods and economic development, said a spokesperson of the State Council Information Office (SCIO) on Friday.

    On Feb. 28, 2025, the State Council Information Office holds a policy briefing in Beijing on handling suggestions from deputies to the National People’s Congress and proposals of the National Committee of the Chinese People’s Political Consultative Conference in 2024. [Photo by Liu Jian/China SCIO]
    In 2024, government departments reviewed and acted on 8,783 suggestions from deputies of the National People’s Congress (NPC) and 4,813 proposals from members of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), addressing key public concerns, said Xing Huina, a spokesperson of the SCIO.
    More than 5,000 recommendations were adopted by various government departments, leading to over 2,000 policy measures that tackled major economic and social issues, she said.

    Senior residents order a meal at Qingshuiwan community canteen in Yinchuan, Ningxia Hui autonomous region, Aug. 1, 2024. [Photo/Xinhua]
    One standout area is eldercare, a growing priority as China’s population ages. Tang Chengpei, vice minister of civil affairs, highlighted how 87 suggestions and proposals from the “two sessions” shaped nationwide efforts to improve eldercare services. “Developing ‘near-home’ eldercare allows seniors to live comfortably in familiar surroundings, which aligns with both national conditions and public expectations,” Tang said.
    To this end, the government has expanded the national three-tiered eldercare network, establishing 446 demonstration centers at the county level and developing 367,000 community-based eldercare facilities.
    The ministry is committed to improving home-based services, having supported the establishment of 75,000 senior dining centers and the renovation of over 2 million homes to enhance accessibility in recent years, according to Tang. These initiatives aim to ensure seniors receive care at the doorsteps of their own homes.
    Efforts to renovate urban villages were also significantly accelerated following suggestions from NPC deputies. Jiang Wanrong, vice minister of housing and urban-rural development, said the input from the deputies “played a crucial role in advancing urban village renovations.”
    “We worked closely with the deputies who submitted suggestions, conducting on-site inspections and holding multiple discussions to ensure effective implementation,” Jiang said. 
    At the news briefing, he highlighted key measures taken, including prioritizing projects in areas with urgent public demand and serious safety risks, as well as expanding policy coverage. “We have now extended urban village renovation efforts beyond 35 major cities to all prefecture-level cities,” he said. 
    In 2024 alone, 1,863 urban village renovation projects were launched, benefiting about 1.37 million households. 
    In addition, financial support policies were enhanced last year to address concerns raised by lawmakers, political advisors, and the public in key areas such as employment, healthcare, and education, according to Vice Finance Minister Guo Tingting.

    Job seekers attend a job fair held for the 2025 graduates of the Heilongjiang University in Harbin, Heilongjiang province, Dec. 23, 2024. [Photo/Xinhua]
    To stabilize employment, the finance ministry extended reduced unemployment and work injury insurance rates and enhanced job retention and skill improvement subsidies in 2024. 
    Healthcare support has also expanded. In 2024, the per capita government subsidy for urban and rural residents’ medical insurance increased by 30 yuan (US$4.12) to 670 yuan annually.
    From the spring semester of 2024, China raised the national baseline for living subsidies for students from economically difficult families, benefiting around 20 million students who received compulsory education, Guo said. Higher education support has also been strengthened with expanded national scholarships and student loans, benefiting 23 million students, she added.
    To support vulnerable groups, the Ministry of Finance has enhanced the dynamic adjustment mechanism for subsistence allowances, ensuring the safety net for those in need, Guo said. By the end of 2024, the average minimum subsistence allowance reached 798 yuan per month in urban areas and 594 yuan in rural areas.
    In celebration of the 75th anniversary of the People’s Republic of China last year, a one-time subsidy of 1,000 yuan per person was also distributed to almost 11.54 million people living with difficulties, the vice finance minister said.

    MIL OSI China News –

  • MIL-OSI: NBPE Announces January Monthly NAV Estimate

    Source: GlobeNewswire (MIL-OSI)

    3 March 2025

    NB Private Equity Partners (NBPE), the $1.3bn1, FTSE 250, listed private equity investment company managed by Neuberger Berman, today announces its 31 January 2025 monthly NAV estimate.

    NAV Highlights (31 January 2025)

    • NAV per share was $27.10 (£21.81), a total return of 2.5% in the month, after accruing the 1H 2025 dividend
    • Approximately 78% of fair value based on private company valuation information as of Q4 2024 or based on 31 January 2025 quoted prices
    • Based on information received so far, private company valuations increased by 2.8% (measured against the NAV of all private investments) during Q4 2024 on a constant currency basis
    • NBPE expects to receive additional updated Q4 2024 financial information which will be incorporated in the monthly NAV updates in the coming weeks
    • $281 million of available liquidity at 31 January 2025
    • ~21k shares repurchased during January 2025 at a weighted average discount of 29% which were accretive to NAV by <$0.01 per share
    As of 31 January 2025 Year to Date One Year 3 years 5 years 10 years
    NAV TR (USD)*
    Annualised    		 2.5% 2.1% 3.2%
    1.1%    		 70.1%
    11.2%    		 166.4%
    10.3%
    MSCI World TR (USD)*
    Annualised    		 3.6% 21.9% 33.4%
    10.1%    		 81.1%
    12.6%    		 186.7%
    11.1%
               
    Share price TR (GBP)*
    Annualised    		 0.2% (0.2%) 1.5%
    0.5%    		 59.3%
    9.8%    		 201.1%
    11.7%
    FTSE All-Share TR (GBP)*
    Annualised    		 5.5% 17.1% 25.5%
    7.9%    		 37.9%
    6.6%    		 87.1%
    6.5%

    * All NBPE performance figures assume re-investment of dividends on the ex-dividend date and reflect cumulative returns over the relevant time periods shown. Three-year, five-year and ten-year annualised returns are presented for USD NAV, MSCI World (USD), GBP Share Price and FTSE All-Share (GBP) Total Returns.

    Portfolio Update to 31 January 2025

    NAV performance during the month driven by:

    • 3.0% NAV increase ($37 million) from the receipt of private company valuation information
    • 1.7% NAV decrease ($22 million) attributable to the 1H 2025 dividend accrual
    • 0.4% NAV decrease ($5 million) from the value of quoted holdings (which now constitute 6% of portfolio fair value)
    • 0.2% NAV decrease ($3 million) attributable to expense accruals
    • Immaterial impact on NAV from changes in FX

    $3 million of realisations in 2025 to date

    • $3 million of realisations received during the month of January, consisting of partial realisation proceeds

    $281 million of total liquidity at 31 January 2025

    • $71 million of cash and liquid investments with $210 million of undrawn credit line available

    2025 Share Buybacks

    • ~21k shares repurchased in January 2025 at a weighted average discount of 29%
    • Buybacks were accretive to NAV by <$0.01 per share
    • On 19th February, NBPE’s board announced that it had reserved $120 million for buybacks over the next three years

    Portfolio Valuation

    The fair value of NBPE’s portfolio as of 31 January 2025 was based on the following information:

    • 6% of the portfolio was valued as of 31 January 2025
      • 6% in public securities
    • 72% of the portfolio was valued as of 31 December 2024
      • 72% in private direct investments
    • 22% of the portfolio was valued as of 30 September 2024
      • 22% in private direct investments

    For further information, please contact:

    NBPE Investor Relations        +44 (0) 20 3214 9002
    Luke Mason        NBPrivateMarketsIR@nb.com  

    Kaso Legg Communications        +44 (0)20 3882 6644

    Charles Gorman        nbpe@kl-communications.com
    Luke Dampier
    Charlotte Francis

    Supplementary Information (as at 31 January 2025)

    Company Name Vintage Lead Sponsor Sector Fair Value ($m) % of FV
    Action 2020 3i Consumer 74.7 5.8%
    Osaic 2019 Reverence Capital Financial Services 70.6 5.4%
    Solenis 2021 Platinum Equity Industrials 60.0 4.6%
    BeyondTrust 2018 Francisco Partners Technology / IT 50.0 3.9%
    Business Services Company* 2017 Not Disclosed Business Services 40.1 3.1%
    Branded Cities Network 2017 Shamrock Capital Communications / Media 39.2 3.0%
    Monroe Engineering 2021 AEA Investors Industrials 38.2 2.9%
    Mariner 2024 Leonard Green & Partners Financial Services 34.8 2.7%
    GFL (NYSE: GFL) 2018 BC Partners Business Services 34.1 2.6%
    FDH Aero 2024 Audax Group Industrials 33.0 2.5%
    True Potential 2022 Cinven Financial Services 32.3 2.5%
    Staples 2017 Sycamore Partners Business Services 31.6 2.4%
    Marquee Brands 2014 Neuberger Berman Consumer 31.2 2.4%
    Auctane 2021 Thoma Bravo Technology / IT 28.8 2.2%
    Fortna 2017 THL Industrials 28.7 2.2%
    Viant 2018 JLL Partners Healthcare 27.1 2.1%
    Stubhub 2020 Neuberger Berman Consumer 26.5 2.0%
    Benecon 2024 TA Associates Healthcare 26.0 2.0%
    Agiliti 2019 THL Healthcare 25.3 1.9%
    Solace Systems 2016 Bridge Growth Partners Technology / IT 24.4 1.9%
    Engineering 2020 NB Renaissance / Bain Capital Technology / IT 24.1 1.9%
    Addison Group 2021 Trilantic Capital Partners Business Services 23.8 1.8%
    Kroll 2020 Further Global / Stone Point Financial Services 23.6 1.8%
    USI 2017 KKR Financial Services 22.2 1.7%
    Qpark 2017 KKR Transportation 22.0 1.7%
    Excelitas 2022 AEA Investors Industrials 21.9 1.7%
    CH Guenther 2021 Pritzker Private Capital Consumer 21.4 1.7%
    Exact 2019 KKR Technology / IT                            21.4 1.6%
    Bylight 2017 Sagewind Partners Technology / IT 19.5 1.5%
    AutoStore (OB.AUTO) 2019 THL Industrials 18.8 1.4%
    Total Top 30 Investments                             $975.2 75.1%

    *Undisclosed company due to confidentiality provisions.

    Geography % of Portfolio
    North America 79%
    Europe 20%
    Asia / Rest of World 1%
    Total Portfolio 100%
       
    Industry % of Portfolio
    Tech, Media & Telecom 22%
    Consumer / E-commerce 21%
    Industrials / Industrial Technology 17%
    Financial Services 16%
    Business Services 11%
    Healthcare 8%
    Other 4%
    Energy 1%
    Total Portfolio 100%
       
    Vintage Year % of Portfolio
    2016 & Earlier 10%
    2017 18%
    2018 15%
    2019 13%
    2020 12%
    2021 17%
    2022 5%
    2023 2%
    2024 8%
    Total Portfolio 100%

    About NB Private Equity Partners Limited
    NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

    LEI number: 213800UJH93NH8IOFQ77

    About Neuberger Berman
    Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $508 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership. The firm’s leadership in stewardship and sustainable investing is recognized by the PRI based on its consecutive above median reporting assessment results. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last eleven years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of 31 December 2024, unless otherwise noted.

    1Based on net asset value.

    Attachment

    The MIL Network –

  • MIL-OSI: ING to repurchase shares for employee compensation

    Source: GlobeNewswire (MIL-OSI)

    ING to repurchase shares for employee compensation

    ING announced today the start of a share repurchase programme under which it plans to repurchase ordinary shares of ING Groep N.V., for a maximum total amount of €70 million. The purpose of the share repurchase programme is to meet obligations under ING’s share-based compensation plans.

    The share repurchase will commence on 3 March 2025 and is expected to end no later than 7 March 2025.

    The ECB has approved the repurchase, which will be executed in compliance with the Market Abuse Regulation and within the limitations of the existing authority to acquire a maximum of 20% of the issued shares as granted by the general meeting of shareholders on 22 April 2024.

    More information on our share buyback programmes can be found on the Investor Relations section of the ING website: 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 or via the @ING_news X feed. 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: Brookfield Wealth Solutions Launches in the United Kingdom

    Source: GlobeNewswire (MIL-OSI)

    BROOKFIELD, NEWS, March 03, 2025 (GLOBE NEWSWIRE) — Brookfield Wealth Solutions (NYSE, TSX: BNT) is entering the UK insurance market to focus on delivering bulk annuity solutions for UK pension schemes. This follows a comprehensive approval process carried out by the Prudential Regulation Authority (“PRA”) and the Financial Conduct Authority (“FCA”).

    Brookfield Wealth Solutions will bring its capital and strong track record of servicing policyholders from its substantial North American operations as one of the first new entrants in the UK market. With over £500 billion of demand for pension buyouts expected over the next decade, the UK represents a significant opportunity to grow, create employment and invest domestically in the UK market.

    The entry for Brookfield Wealth Solutions, which was spun out of Brookfield Corporation in June 2021, will further extend Brookfield’s presence in the UK, where it is already a leading investor with over £63 billion of assets under management across infrastructure, real estate, and renewable power. Brookfield and its UK portfolio companies employ approximately 23,000 people across the UK.

    Sachin Shah, CEO, Brookfield Wealth Solutions said: “We are thrilled to launch Brookfield Wealth Solutions in the UK. With more than $140 billion in total assets, we look forward to serving the retirement needs of UK pensioners for the long term. Our group-wide commitment is to provide long-term financial security for our policyholders and clients, serviced by strong, well capitalized companies with high quality investment portfolios. The PRA and the FCA have been efficient, professional and highly constructive during our approval process, and we look forward to working further with them in the future.”

    Brookfield Wealth Solutions is expected to begin operations later in the first quarter subject to final regulatory approvals and will operate under the Blumont Annuity UK brand.

    About Brookfield Wealth Solutions

    Brookfield Wealth Solutions Ltd. (NYSE, TSX: BNT) is focused on securing the financial futures of individuals and institutions through a range of retirement services, wealth protection products and tailored capital solutions. Each class A exchangeable limited voting share of Brookfield Wealth Solutions is exchangeable on a one-for-one basis with a class A limited voting share of Brookfield Corporation (NYSE, TSX: BN). For more information, visit bnt.brookfield.com.

    About Blumont Annuity UK

    Blumont Annuity Company UK Ltd., based in London, will be a provider of bulk annuity solutions in the United Kingdom.

    For more information, please contact:
     
    Media:   Investor Relations:
    Kerrie McHugh   Rachel Schneider
    Tel: (212) 618-3469   Tel: (416) 369-3358
    Email: kerrie.mchugh@brookfield.com   Email: Rachel.schneider@brookfield.com
         

    Notice to Readers

    This news release and any related oral statements made by our representatives may contain “forward-looking information” within the meaning of Canadian provincial securities laws, “forward-looking statements” within the meaning of Canadian provincial securities laws, “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, and “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations (collectively, “forward-looking statements”). Forward-looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management’s current estimates, assumptions and expectations regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies, capital management and outlook of Brookfield Wealth Solutions and its subsidiaries, including Blumont Annuity UK, as well as the outlook for international economies for the current fiscal year and subsequent periods.

    In some cases, forward-looking statements can be identified by the use of the words such as “believes,” “thinks,” “expects,” “potential,” “anticipates,” “plans,” “believes,” “estimates,” “seeks,” “intends,” “targets,” “projects,” “foresees,” “forecasts,” or negative versions thereof and other similar expressions, or future or conditional verbs such as “may,” “will,” “should,” “would” and “could.” In particular, the forward-looking statements contained in this news release include statements regarding the growth of our business, the status of regulatory approvals including the anticipated timing thereof, the size of the UK pension market and opportunities relating thereto.

    Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable estimates, assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of Brookfield Wealth Solutions or Blumont Annuity UK to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

    Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: (i) investment returns that are lower than target; (ii) the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; (iii) the behavior of financial markets, including fluctuations in interest and foreign exchange rates; (iv) global equity and capital markets and the availability of equity and debt financing and refinancing within these markets (v) litigation; (vi) changes in tax laws; (vii) ability to collect amounts owed; (viii) catastrophic events, such as earthquakes, hurricanes and epidemics/pandemics; (ix) the possible impact of international conflicts and other developments including terrorist acts and cyberterrorism; (x) the introduction, withdrawal, success and timing of business initiatives and strategies; (xi) the failure of effective disclosure controls and procedures and internal controls over financial reporting and other risks; (xii) health, safety and environmental risks; (xiii) the maintenance of adequate insurance coverage; (xiv) the existence of information barriers between certain businesses within Brookfield’s asset management operations; (xv) risks specific to our business segments; (xvi) factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States; and (xvii) the failure to obtain and/or maintain required regulatory approvals.

    We caution that the foregoing list of important factors that may affect future results is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the foregoing risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such forward-looking information. Except as required by law, Brookfield Wealth Solutions undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, whether as a result of new information, future events or otherwise.

    Past performance is not indicative nor a guarantee of future results. There can be no assurance that comparable results will be achieved in the future, that future investments will be similar to the historic investments discussed herein, that targeted returns, growth objectives, diversification or asset allocations will be met or that an investment strategy or investment objectives will be achieved (because of economic conditions, the availability of investment opportunities or otherwise).

    Readers are urged to consider the foregoing risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such forward-looking information.

    The MIL Network –

  • MIL-OSI: VAALCO Energy, Inc. Acquires 70% Interest in and Becomes Operator of Offshore Côte D’Ivoire CI-705 Block

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, March 03, 2025 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“Vaalco” or the “Company”) announced that it has farmed into the CI-705 block offshore Côte d’Ivoire. Vaalco will become operator of the block with a 70% working interest and a 100% paying interest though a commercial carry arrangement and is partnering with Ivory Coast Exploration Oil & Gas SAS and PETROCI. The CI-705 block is located in the prolific Tano basin and is approximately 70 kilometers (“km”) to the west of Vaalco’s CI-40 Block, where the Baobab and Kossipo oil fields are located, and 60 km west of ENI’s recent Calao discovery. Block CI-705 covers approximately 2,300 km2 and is lightly explored with three wells drilled to date on the block. The water depth across the block ranges from zero to 2,500 meters. Vaalco has invested $3 million to acquire its interest in the new block which it believes has significant prospectivity.

    “We are very excited to expand our footprint offshore Côte d’Ivoire,” said George Maxwell, Vaalco’s Chief Executive Officer. “When we announced our entry into country in 2024 as a non-operating partner in the CI-40 block, we noted our excitement to be expanding our West African focus in a well-established and investment-friendly country. We believe the CI-705 block is favorably located in a proven petroleum system, near existing infrastructure with access to a strong growing domestic market with attractive upside potential. Under the terms of the farm-in, we will operate the block with a 70% working interest and a 100% paying interest as we carry our partners at commercial terms through the seismic reprocessing and interpretation stages and potentially drilling up to two exploration wells. Our initial assessment is that there are both oil and natural gas prospects on the block and we plan to conduct a detailed, integrated geological analysis to assess and mature our understanding of the block’s overall prospectivity. We have demonstrated our ability to acquire, develop and enhance value with the accretive acquisitions we have executed in the past. We are also excited about the major projects that we have planned in 2025 and 2026, which are expected to deliver a step-change in organic growth across our portfolio. We are pleased to have yet another opportunity to add value and runway for Vaalco’s future.”

    Source: Vaalco Energy

    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 “forward-looking information” within the meaning of applicable Canadian securities laws. 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 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 balance sheet strength; and (vi) 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.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0ca96dfc-9a1c-4e43-a010-fc63848983f2

    The MIL Network –

  • MIL-OSI: Manora Drilling Update

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, March 03, 2025 (GLOBE NEWSWIRE) — Valeura Energy Inc. (TSX:VLE, OTCQX:VLERF) (“Valeura” or the “Company”) is pleased to announce the successful completion of an infill drilling campaign at the Manora field in Licence G1/48 (70% operated working interest), offshore Gulf of Thailand.

    Dr. Sean Guest, President and CEO commented:

    “Our most recent drilling at Manora has both increased oil production rates and successfully appraised additional targets which will form the basis of future infill development drilling.  While the Manora field accounts for only about 10% of our year-to-date production, it is an excellent example of the potential for Gulf of Thailand fields to add many years of economic field life through targeted ongoing activity.  In 2025 we intend to pursue a full year of drilling operations across our portfolio, aimed at continuing our proven track record of adding reserves year on year to support continued cash flow generation.” 

    Valeura drilled a five well programme, comprised of three production-oriented infill development wells and two appraisal wells.  In aggregate, the Company’s Manora field working interest share oil production before royalties has increased from 2,144 bbls/d (December 2024 average) to 2,866 bbls/d for the last 14-day period.  Additionally, the appraisal objectives of the campaign have yielded between three and five potential future drilling targets, which will be further evaluated for inclusion in a future drilling programme.

    The A34 well was drilled for infill development targets within the deep 600-series sands in the field’s eastern fault block.  The well was successful and has been completed as a multi-zone comingled producer.

    The horizontal A38 well was also drilled into the eastern fault block, with the objective of developing the shallower 300-series sands.  It was completed as a producer, with the well design incorporating an innovative downhole autonomous inflow control device (“ICD”) to manage water vs oil production.  The Company is monitoring the impact of this, and other ICDs deployed elsewhere on its fields, to optimise the application of this technology across the portfolio.

    The A36 well targeted sands across several known producing intervals in the field’s main fault block and has been completed as a multi-zone infill development well.  As is normal in many multi-zone wells, only the deepest targets are currently producing and the shallower zones will be brought on production later.

    The A35 well successfully appraised several zones of interest within the shallower 300-series sands.  While this appraisal well will not be used a producer (and accordingly has been plugged and abandoned), the results encountered have indicated the potential for three further development wells within this reservoir section, which will now be further studied and modelled for inclusion in future development drilling.

    The horizontal A37 well was drilled as a combination appraisal and development well.  The well encountered an encouraging appraisal target in the 500-series sands, which is now being matured for inclusion in a future drilling campaign.  The well’s development target, within the deeper 600-series sands was completed as a producer.

    Following completion of the Manora drilling campaign, the Company’s contracted drilling rig has mobilised to Licence B5/27 (100% operated interest) where it is currently conducting a drilling programme on the Jasmine C wellhead platform.

    For further information, please contact:  
       
    Valeura Energy Inc. (General Corporate Enquiries)                       
    Sean Guest, President and CEO
    Yacine Ben-Meriem, CFO
    Contact@valeuraenergy.com     		 +65 6373 6940
       
    Valeura Energy Inc. (Investor and Media Enquiries)                       
    Robin James Martin, Vice President, Communications and Investor Relations
    IR@valeuraenergy.com    		 +1 403 975 6752 / +44 7392 940495
       

    Contact details for the Company’s advisors, covering research analysts and joint brokers, including Auctus Advisors LLP, Canaccord Genuity Ltd (UK), Cormark Securities Inc., Research Capital Corporation, and Stifel Nicolaus Europe Limited, are listed on the Company’s website at www.valeuraenergy.com/investor-information/analysts/.

    About the Company

    Valeura Energy Inc. is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. The Company is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.

    Additional information relating to Valeura is also available on SEDAR+ at www.sedarplus.ca.

    Advisory and Caution Regarding Forward-Looking Information

    Certain information included in this news release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is for the purpose of explaining management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “project”, “target” or similar words suggesting future outcomes or statements regarding an outlook.

    Forward-looking information in this news release includes, but is not limited to, the potential for successfully appraised targets to form the basis of further infill development drilling, and the number of future drilling targets; the Company’s intention to pursue a full year of drilling operations across its portfolio in 2025; and the Company’s expectation to bring shallower zones on production later in the A36 well.  In addition, statements related to “reserves” and “resources” are deemed to be forward-looking information as they involve the implied assessment, based on certain estimates and assumptions, that the resources can be discovered and profitably produced in the future. 

    Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.

    Forward-looking information is based on management’s current expectations and assumptions regarding, among other things: political stability of the areas in which the Company is operating; continued safety of operations and ability to proceed in a timely manner; continued operations of and approvals forthcoming from governments and regulators in a manner consistent with past conduct; ability to achieve extensions to licences in Thailand and Türkiye to support attractive development and resource recovery; future drilling activity on the required/expected timelines; the prospectivity of the Company’s lands; the continued favourable pricing and operating netbacks across its business; future production rates and associated operating netbacks and cash flow; decline rates; future sources of funding; future economic conditions; the impact of inflation of future costs; future currency exchange rates; interest rates; the ability to meet drilling deadlines and fulfil commitments under licences and leases; future commodity prices; the impact of the Russian invasion of Ukraine; the impact of conflicts in the Middle East; royalty rates and taxes; management’s estimate of cumulative tax losses being correct; future capital and other expenditures; the success obtained in drilling new wells and working over existing wellbores; the performance of wells and facilities; the availability of the required capital to funds its exploration, development and other operations, and the ability of the Company to meet its commitments and financial obligations; the ability of the Company to secure adequate processing, transportation, fractionation and storage capacity on acceptable terms; the capacity and reliability of facilities; the application of regulatory requirements respecting abandonment and reclamation; the recoverability of the Company’s reserves and contingent resources; future growth; the sufficiency of budgeted capital expenditures in carrying out planned activities; the impact of increasing competition; the availability and identification of mergers and acquisition opportunities; the ability to successfully negotiate and complete any mergers and acquisition opportunities; the ability to efficiently integrate assets and employees acquired through acquisitions; global energy policies going forward; international trade policies; future debt levels; and the Company’s continued ability to obtain and retain qualified staff and equipment in a timely and cost efficient manner. In addition, the Company’s work programmes and budgets are in part based upon expected agreement among joint venture partners and associated exploration, development and marketing plans and anticipated costs and sales prices, which are subject to change based on, among other things, the actual results of drilling and related activity, availability of drilling, offshore storage and offloading facilities and other specialised oilfield equipment and service providers, changes in partners’ plans and unexpected delays and changes in market conditions. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.

    Forward-looking information involves significant known and unknown risks and uncertainties. Exploration, appraisal, and development of oil and natural gas reserves and resources are speculative activities and involve a degree of risk. A number of factors could cause actual results to differ materially from those anticipated by the Company including, but not limited to: the ability of management to execute its business plan or realise anticipated benefits from acquisitions; the risk of disruptions from public health emergencies and/or pandemics; competition for specialised equipment and human resources; the Company’s ability to manage growth; the Company’s ability to manage the costs related to inflation; disruption in supply chains; the risk of currency fluctuations; changes in interest rates, oil and gas prices and netbacks; the risk that the Company’s tax advisors’ and/or auditors’ assessment of the Company’s cumulative tax losses varies significantly from management’s expectations of the same; potential changes in joint venture partner strategies and participation in work programmes; uncertainty regarding the contemplated timelines and costs for work programme execution; the risks of disruption to operations and access to worksites; potential changes in laws and regulations, including international treaties and trade policies; the uncertainty regarding government and other approvals; counterparty risk; the risk that financing may not be available; risks associated with weather delays and natural disasters; and the risk associated with international activity. See the most recent annual information form and management’s discussion and analysis of the Company for a detailed discussion of the risk factors.

    Certain forward-looking information in this news release may also constitute “financial outlook” within the meaning of applicable securities legislation. Financial outlook involves statements about Valeura’s prospective financial performance or position and is based on and subject to the assumptions and risk factors described above in respect of forward-looking information generally as well as any other specific assumptions and risk factors in relation to such financial outlook noted in this news release. Such assumptions are based on management’s assessment of the relevant information currently available, and any financial outlook included in this news release is made as of the date hereof and provided for the purpose of helping readers understand Valeura’s current expectations and plans for the future. Readers are cautioned that reliance on any financial outlook may not be appropriate for other purposes or in other circumstances and that the risk factors described above or other factors may cause actual results to differ materially from any financial outlook.

    The forward-looking information contained in this news release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.

    This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This news release is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful.

    Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release.

    This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

    The MIL Network –

  • MIL-OSI: Exosens delivers very strong full-year 2024 results, overperforming on its IPO guidance; Sustained growth dynamic anticipated for 2025-2026

    Source: GlobeNewswire (MIL-OSI)

    EXOSENS DELIVERS VERY STRONG FULL-YEAR 2024 RESULTS, OVERPERFORMING ON ITS IPO GUIDANCE

    SUSTAINED GROWTH DYNAMIC ANTICIPATED FOR 2025-2026

    FY 2024 HIGHLIGHTS

    • Strong revenue growth of +35.0%, above IPO guidance, to €394.1m in 2024, reflecting dynamic like-for-like growth (+24.9%) and successful integration of bolt-on acquisitions
    • Significant increase in profitability, with adjusted EBITDA of €118.5m in 2024 (+37.8%), representing a best-in-class margin of 30.1% (vs. 29.5% in 2023), above IPO guidance and above top range of estimated landing given in January 2025
    • Net profit of €30.7m in 2024, recording a strong growth of +66.7% over 2023
    • Robust balance sheet with a net leverage of 1.2x at year-end 2024, enabling the execution of our growth strategy
    • Proposed payment of a €0.10 cash dividend per share for the 2024 fiscal year, for the first time since Exosens’ IPO

    OUTLOOK FOR 2025 AND THE 2024-2026 PERIOD: SUSTAINED GROWTH DYNAMIC DRIVEN BY DEFENSE TAILWINDS

    • Continued strong performance expected in 2025, with revenue growth in the high-teens and adjusted EBITDA growth in the low twenties
    • Global market demand is higher than initially expected, with NATO and Tier-1 allies continuing to ramp up their procurement of night vision systems further improving the perspectives, which implies a high-teens 2024-2026 adjusted EBITDA CAGR
    • In order to meet this demand Exosens decided to invest €20m to expand its production capacity not only in Europe but also in the US with, for the first time, a new production plant in the US, which will give us additional market opportunities

    Mérignac (France), 3 March 2025 – Exosens (EXENS; FR001400Q9V2), a high-tech company focused on providing mission and performance-critical amplification, detection and imaging technology, today publishes its results for the fiscal year ended 31 December 2024. At its 28 February 2025 meeting, Exosens’ Board of Directors approved the consolidated financial statements for 2024.

    “We are pleased to announce our first results as a publicly-listed company, with 2024 performance exceeding our IPO guidance. In a dynamic defense market, driven by rising geopolitical tensions and increasing defense budgets across NATO countries and Tier-1 allies, Exosens fully benefited from these structural trends and is well-positioned to continue doing so. 2024 was a pivotal year, we flawlessly executed our strategy, reinforcing our leadership in mission-critical technologies, surpassing expectations, and further enhancing our best-in-class margins, that set us apart from our peers.

    Amplification remains a key driver of our growth with higher-than-expected market demand, necessitating capacity expansion. As a result, we have decided to scale up capacity in Europe and enter the US market, anticipating sustained mid-term demand and emerging opportunities.

    We are also accelerating the growth of D&I segment, which achieved +7% like-for-like growth in 2024, driven by an improved product mix, market share gains, and successful acquisitions. These markets are benefiting from AI-driven advancements in industrial control, nuclear energy, and healthcare research.

    With a focus on sustainable growth, we remain committed to customer satisfaction, innovation, operational excellence, and disciplined acquisitions. Backed by a strong balance sheet and a dynamic market environment, we are well-positioned to accelerate expansion and create value for both customers and shareholders, including our first dividend payment.”, commented Jérôme Cerisier, CEO of Exosens.

    Key financial indicators

    In € millions FY 2023 FY 2024 Change (%) LFL1(%)
    Revenue 291.8 394.1 +35.0% +24.9%
             
    Adjusted gross margin 131.1 189.6 +44.7% –
    As a % of revenue 44.9% 48.1% +320bps –
             
    Adjusted EBITDA 86.0 118.5 +37.8% –
    As a % of revenue 29.5% 30.1% +60bps –
             
    Adjusted EBIT 66.1 95.3 +44.1% –
    As a % of revenue 22.7% 24.2% +150bps –
             
    Operating income 48.3 73.0 +51.2% –
    As a % of revenue 16.5% 18.5% +200bps –
             
    Net profit 18.4 30.7 +66.7% –
    Net profit ex. PPA amortization 27.8 41.5 +49.2% –
             
    Free cash flow 20.5 55.4 +170.0% –
    Cash conversion (%) 69.3% 74.1% +480bps –
             
    Net debt 302.3 144.1 (47.7)% –
    Leverage ratio (x) 3.3x 1.2x (2.1)x –
    1Like-for-like.

    Strong revenue performance in FY 2024 in a dynamic market environment, outperforming our IPO guidance

    In € millions FY 2023 FY 2024 Change (%) Like-for-like (%)
    Amplification 209.9 280.2 +33.5% +33.5%
    Detection & Imaging 82.5 117.5 +42.5% +6.8%
    Eliminations & Other (0.6) (3.7) n/a n/a
    Total revenue 291.8 394.1 +35.0% +24.9%

    Exosens posted a strong performance in FY 2024, outperforming its IPO guidance and continuing its strong growth trajectory, with consolidated revenue totaling €394.1 million, which represented a significant growth of +35.0% (or +€102.3 million) compared to FY 2023, of which+24.9% year-on-year on a like-for-like basis, mainly driven by a strong demand in Defense end-markets.

    Amplification revenue reached €280.2 million in FY 2024, reflecting a significant growth of +33.5% compared to FY 2023, driven by stronger sales volumes and increased share of higher-performance image intensifier tubes for Defense’s night vision applications.

    The global night vision market is benefiting from growing demand, driven by increasing defense budgets and the need for armies worldwide to enhance their night fighting capabilities, including the ongoing shift from monocular to binocular goggles. The return of high-density combat has underscored the critical importance of night operation abilities as a key tactical advantage. NATO and Tier-1 allies continued to ramp up their procurement of night vision systems in 2024, though they are still far from reaching the targeted equipment rate.

    Reflecting this increasing market demand, Exosens, worldwide leader, has benefited from its position as the strategic supplier of NATO and Tier-1 allies for night vision image intensifier tubes with a number of major business wins in markets such as Germany, the UK, Poland, Belgium, Finland, France or Australia, among others.

    On the M&A front, the Group announced agreement to acquire NVLS, a specialist in man-portable night vision and thermal devices, in October 2024, which will accelerate Exosens’ mid-term capability to develop next gen googles with innovative solutions combining night vision and thermal devices. Closing is expected to occur in the coming months, pending customary clearances and approvals.

    Detection & Imaging revenue totaled €117.5 million in FY 2024, representing an increase of +42.5% compared to FY 2023, mainly driven by a positive product mix and accelerated growth from 2023 bolt-on acquisitions (Telops, El-Mul, and Photonis Germany1).

    Like-for-like growth reached +6.8% in FY 2024, accelerating from the +6.0% recorded in 9M 2024. This strong performance was driven by market share gains following new product launches, as well as growing demand in our key high-growth end markets (Life Sciences, Nuclear and Defense). These factors more than offset the softness in Industrial Control markets (China, machine vision).

    Throughout the year, Exosens continued to execute on its disciplined bolt-on strategy with two synergistic acquisitions: Centronic (radiation detection solutions), in July, reinforcing our position as the key European leader in nuclear instrumentation, and LR Tech (FTIR spectrometry) in September, complementing Telops’ products to strengthen our position in high-end spectroscopy instruments. Additionally, in November, Exosens announced the acquisition of Noxant, a specialist in high-performance cooled infrared cameras, set to close in Q1 2025.

    Significant improvement in adjusted gross margin in FY 2024

      FY 2023 FY 2024 Change
      In €m % of sales In €m % of sales In %
    Amplification 93.3 44.4% 132.4 47.3% +42.0%
    Detection & Imaging 37.7 45.7% 57.1 48.6% +51.6%
    Eliminations & Other 0.1 n/a 0.1 n/a n/a
    Adjusted gross margin 131.1 44.9% 189.6 48.1% +44.7%

    Exosens posted a strong increase in adjusted gross margin at Group level and across both segments in FY 2024, mainly due to higher sales volumes, improved yields and a favorable product mix. The Group’s adjusted gross margin stood at €189.6 million in FY 2024, reflecting a growth of +44.7% compared to FY 2023. Adjusted gross margin rate reached 48.1% in FY 2024, marking a significant improvement of 320 basis points year-on-year.

    Adjusted gross margin of the Amplification segment totaled €132.4 million in FY 2024 (+42.0% vs. FY 2023), representing a margin of 47.3% (vs. 44.4% in FY 2023). This strong increase in margin rate mainly reflected higher sales volumes, improved yields and a favorable product mix.

    Adjusted gross margin of the Detection & Imaging segment amounted to €57.1 million in FY 2024 (+51.6% vs. FY 2023), representing a margin of 48.6% (vs. 45.7% in FY 2023). This improved margin rate was mainly driven by a positive product mix, improved yields and supply-chain cost synergies.

    Continued strong operational execution driving further profitability increase in FY 2024

    Exosens reported a further increase of its profitability at Group level in FY 2024, reinforcing best-in-class margin, driven by strong business momentum and continued operational excellence.

    Adjusted EBITDA amounted to €118.5 million in FY 2024, representing a sharp growth of +37.8% (or +€32.5 million) compared to €86.0 million in FY 2023. As a result, adjusted EBITDA margin improved by 60 basis points to reach 30.1% in FY 2024 (vs. 29.5% in FY 2023).

    Adjusted EBIT totaled €95.3 million in FY 2024, posting a strong growth of +44.1% (or +€29.2 million) compared to €66.1 million in FY 2023. As a result, adjusted EBIT margin increased by 150 basis points to reach 24.2% in FY 2024 (vs. 22.7% in FY 2023).

    The Group’s recorded an operating income of €73.0 million in FY 2024, representing a significant increase of +51.2% (or €24.7 million) compared to €48.3 million in FY 2023. As a percentage of sales, operating margin improved by 200 basis points to reach 18.5% (vs. 16.5% in FY 2023).

    Significant growth in net income, up +67% in FY 2024

    Exosens recorded a significant increase in net profit, reaching €30.7 million in FY 2024, up by +66.7% (or €12.3 million) compared to FY 2023. Adjusted for PPA amortization, net profit was €41.5 million in FY 2024, representing a growth of +49.2% (or €13.6 million) compared to FY 2023.

    Strong increase in free cash flow, up +€35 million in FY 2024

    Exosens recorded a significant increase in free cash flow to €55.4 million in FY 2024 (vs. €20.5 million in FY 2023). This strong increase was achieved despite one-off expenses related to IPO consulting fees. In addition, the Group achieved a higher cash conversion rate of 74.1% in FY 2024 compared to 69.3% in FY 2023, with increased investment towards the end of the year to support future growth.

    Sustained R&D efforts in FY 2024 to support long-term growth and market leadership

    R&D expenses grew by +35.0% to €30.4 million (7.7% of sales) in FY 2024 compared to €22.5 million (7.7% of sales) in FY 2023. Continued efforts in R&D like the development of 5G image intensifier tubes for Defense’s night vision applications, or next gen detectors for Life Sciences and Nuclear will sustain the group’s future growth and maintain its leading positions.

    Completion of the first phase of capacity expansion

    Capital expenditure reached €27.9 million in FY 2024 compared to €23.7 million in FY 2023, marking a reduction in capex to sales ratio to 7.1% (vs. 8.1% in FY 2023) following the completion of capacity expansion resulting from investments started in 2022-2023.

    Strengthened capital structure, fully supporting our growth strategy

    Following Exosens’ successful IPO in June 2024, which included a capital increase of €180 million and a full debt refinancing (securing two new credit facilities of a total amount of €350 million), the Group has significantly deleveraged, with its net debt more than halving to €144.1 million as at 31 December 2024 compared to €302.3 million as at 31 December 2023. Accordingly, the leverage ratio decreased significantly to 1.2x as at 31 December 2024, as compared to a ratio of 3.3x as at 31 December 2023, providing the Group with ample capacity to pursue its investments in growth.

    Dividend

    The Company’s Board of Directors decided, during its meeting on 28 February 2025, to propose the payment of a €0.10 cash dividend per share for the 2024 fiscal year. This amount will be subject to the approval of the Annual General Shareholders’ Meeting, which will take place on 23 May 2025.

    Outlook for 2025 and the 2024-2026 period: Sustained growth dynamic driven by defense tailwinds

    Exosens expects a continued strong performance in 2025, with revenue growth in the high-teens and adjusted EBITDA growth in the low twenties compared to 2024.

    The Group expects a high-teens 2024-2026 adjusted EBITDA CAGR and a cash conversion2ratio in the range of 70%-75% over the period, taking into account capacity investment in Europe and in the US.

    Furthermore, the Group intends to pursue its growth strategy, at a pace consistent with historical trend, while maintaining a leverage ratio3of around 2x.

    Webcast

    Jérôme Cerisier, CEO and Quynh-Boi Demey, CFO will hold a conference call and webcast to discuss Exosens’ full-year 2024 results on Monday, 3 March 2025 at 9:00am CET. This presentation will be followed by a Q&A session and can be accessed via the following link:
    https://channel.royalcast.com/landingpage/exosens-en/20250303_1/

    The press release and the presentation will be available in the Investor Relations section on Exosens’ website at https://www.exosens.com/investors.

    Audit procedures in respect of the consolidated financial statements are complete and the corresponding audit report of the auditors is in the process of being delivered.

    Financial Calendar

    • 28/04/2025: Q1 2025 revenue & adj. gross margin (publication before market opening);
    • 29/04/2025: Publication of 2024 Universal Registration Document;
    • 23/05/2025: Annual general meeting;
    • 31/07/2025: H1 2025 results (publication before market opening);
    • 27/10/2025: Q3 2025 revenue & adj. gross margin (publication before market opening).

    About Exosens

    Exosens is a high‐tech company, with more than 85 years of experience in the innovation, development, manufacturing and sale of high‐end electro‐optical technologies in the field of amplification, detection and imaging. Today, it offers its customers detection components and solutions such as travelling wave tubes, advanced cameras, neutron & gamma detectors, instrument detectors and light intensifier tubes. This allows Exosens to respond to complex issues in extremely demanding environments by offering tailor‐made solutions to its customers. Thanks to its sustained investments, Exosens is internationally recognized as a major innovator in optoelectronics, with production and R&D carried out on 12 sites, in Europe and North America and with over 1,700 employees. Exosens is listed on compartment A of the regulated market of Euronext Paris ﴾Ticker: EXENS – ISIN: FR001400Q9V2﴿. Exosens is a member of Euronext Tech Leaders segment and is also included in several indices, including CAC All-Tradable, CAC Mid & Small, FTSE Total Cap and MSCI France Small Cap. For more information: www.exosens.com.

    Investor Relations

    Laurent Sfaxi, l.sfaxi@exosens.com

    Media Relations

    Brunswick Group, exosens@brunswickgroup.com
    Laetitia Quignon, + 33 6 83 17 89 13
    Nicolas Buffenoir, + 33 6 31 89 36 78

    APPENDICES

    Reconciliation of adjusted EBITDA and adjusted EBIT

    In € millions FY 2023 FY 2024
    Operating profit 48.3 73.0
    Depreciation, amortization and impairment – net 29.2 34.1
    Other income and expenses 4.6 3.9
    EBITDA 82.0 111.0
    Share-based payments 1.6 2.9
    One-off costs 2.4 4.5
    Adjusted EBITDA 86.0 118.5
    Depreciation, amortization and impairment ex. PPA amortization (19.9) (23.3)
    Adjusted EBIT 66.1 95.3

    Reconciliation of free cash flow and cash conversion

    In € millions FY 2023 FY 2024
    Adjusted EBITDA 86.0 118.5
    Capitalized research and development costs (8.6) (11.0)
    Adjusted EBITDA after capitalized R&D costs 77.4 107.5
    Change in working capital4 (21.4) (10.7)
    Tax paid (6.9) (6.7)
    Maintenance capital expenditure4 (6.4) (12.5)
    Others (4.9) (7.0)
    Free cash flow before growth 37.8 70.7
    Growth capital expenditure4 (17.3) (15.3)
    Free cash flow after growth 20.5 55.4
         
    Adjusted EBITDA after capitalized R&D costs and capital expenditure (A) 53.7 79.6
    Adjusted EBITDA after capitalized R&D costs (B) 77.4 107.5
    Cash conversion (%) (A) / (B) 69.3% 74.1%

    Consolidated statement of income

    In € millions FY 2023 FY 2024
    Revenue 291.8 394.1
    Cost of sales (76.0) (103.0)
    Other purchases and external expenses (54.1) (65.5)
    Taxes and duties other than income tax (1.6) (1.6)
    Employee benefits expenses (81.3) (110.8)
    Other operating income / (expenses) 4.4 2.0
    Depreciation, amortization and additions to provisions (30.4) (38.2)
    o/w PPA amortization (9.5) (10.8)
    Current operating profit / (loss) 52.8 76.9
    Current operating profit / (loss) ex. PPA amortization 62.3 87.8
    Other income / (expenses) (4.5) (3.9)
    Operating profit / (loss) 48.3 73.0
    Operating profit / (loss) ex. PPA amortization 57.7 83.8
    Net financial result (28.0) (31.2)
    Profit / (loss) before tax 20.2 41.8
    Profit / (loss) before tax ex. PPA amortization 29.7 52.6
    Income tax (1.8) (11.1)
    Net profit / (loss) 18.4 30.7
    Net profit / (loss) ex. PPA amortization 27.8 41.5

    Consolidated statement of cash flows

    In € millions FY 2023 FY 2024
    Net profit / (loss) 18.4 30.7
    Net financial results 28.0 31.2
    Income tax 1.8 11.1
    Charges net of reversals to depreciation and amortization 30.9 36.9
    Other income / (expenses) (0.2) 2.5
    Income tax received / (paid) (6.9) (6.7)
    Change in net working capital (21.7) (9.5)
    Net cash flow from / (used in) operating activities 50.5 96.2
    Net investments in assets (31.4) (41.3)
    Net acquisition of equity investments (69.3) (31.4)
    Investment grant received and other flows 1.1 (0.0)
    Net cash flow from / (used in) investment activities (99.6) (72.7)
    Capital increases / (decreases) 0.0 180.0
    Acquisitions and disposals of treasury shares 0.0 (0.3)
    Change in financial liabilities and IFRS 16 leases 57.6 (65.1)
    Interest payments (including IFRS 16 leases) (24.4) (24.2)
    Other 2.3 (14.1)
    Net cash flow from / (used in) financing activities 35.5 76.3
    Effect of changes in exchange rates 0.2 0.4
    Increase / (decrease) in cash and cash equivalents (13.5) 100.2
    Cash and cash equivalents at the beginning of the period 29.0 15.5
    Cash and cash equivalents at the end of the period 15.5 115.6

    Consolidated balance sheet – Assets

    In € millions 31-Dec-2023 31-Dec-2024
    Goodwill 174.3 189.5
    Intangible assets 202.4 204.9
    Tangible assets 72.1 93.6
    Right-of-use of leases 10.8 10.6
    Investment in associates 3.4 3.4
    Financial assets and other long-term investments 0.7 0.9
    Deferred tax assets 0.0 (0.0)
    Non-current assets 463.7 502.8
    Inventory 78.5 93.0
    Accounts receivable 69.2 71.0
    Derivative financial instruments 0.2 0.0
    Financial assets and other short-term investments 29.4 33.0
    Cash and cash equivalents5 15.5 117.2
    Current assets 192.7 314.2
         
    Total assets 656.4 817.0

    Consolidated balance sheet – Equity and liabilities

    In € millions 31-Dec-2023 31-Dec-2024
    Share capital 1.9 21.6
    Additional paid-in capital 188.1 342.5
    Reserves 14.1 48.5
    Total equity 204.1 412.6
    Long-term financial debt 300.8 247.8
    Long-term lease liabilities 7.7 8.2
    Pension liabilities 7.6 7.5
    Provisions and other long-term liabilities 8.6 13.4
    Deferred tax liabilities 17.6 20.6
    Non-current liabilities 342.3 297.4
    Short-term financial debt 7.0 2.5
    Short-term lease liabilities 2.4 2.7
    Derivative financial instruments – 0.1
    Accounts payable 32.3 26.0
    Provisions and other short-term liabilities 68.4 75.6
    Current liabilities 110.1 107.0
         
    Total equity and liabilities 656.4 817.0

    Definitions

    Like-for-like growth is the revenue growth achieved by the Group excluding currency impact and scope effect, which corresponds to revenue recorded during period “n” by all the companies included in the Group’s scope of consolidation at the end of period “n-1” (excluding any contribution from the companies acquired after the end of period “n-1”), compared with revenue achieved during period “n-1” by the same companies. Like-for-like growth for the fiscal year ended 31 December 2024 therefore excludes the contribution of Telops, El-Mul and Photonis Germany (formerly ProxiVision), acquired by the Group in October 2023, July 2023 and June 2023, respectively, as well as Centronic and LR Tech, acquired by the Group in July 2024 and September 2024, respectively.

    Adjusted gross margin is equal to the difference between the selling price and the cost price of products and services (including notably employee benefits).

    Adjusted EBITDA is defined as operating profit, less (i) additions net of reversals to depreciation, amortization and impairment of non-current assets; (ii) non-recurring income and expenses as presented in the Group’s consolidated income statement within “Other income” and “Other expenses”, and (iii) the impact of items that do not reflect ordinary operating performance (in particular business reorganization and adaption costs, costs relating to acquisition and external growth transactions, as well as the IFRS 2 share-based payment expense).

    Adjusted EBIT is defined as operating profit, less (i) non-recurring income and expenses as presented in the Group’s consolidated income statement within “Other income” and “Other expenses”, and (ii) the impact of items that do not reflect ordinary operating performance (in particular business reorganization and adaption costs, costs relating to acquisition and external growth transactions, as well as the IFRS 2 share-based payment expense). Depreciation, amortization and reversal of impairment losses on non-current assets, included in adjusted EBIT, exclude the amortization of the part of non-current assets corresponding to purchase price allocation.

    Cash conversion is calculated as follows: (adjusted EBITDA – capitalized research and development costs – capital expenditure) / adjusted EBITDA – capitalized research and development costs).

    Leverage ratio is calculated as net debt / adjusted EBITDA as defined in the Group’s New Senior Credit Facilities Agreement entered into as part of the refinancing executed in the frame of the IPO.

    Forward-looking statements

    Certain information included in this press release are not historical facts but are forward-looking statements. These forward-looking statements are based on current beliefs, expectations and assumptions, including, without limitation, assumptions regarding present and future business strategies and the environment in which Exosens operates, and involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to be materially different from the forward-looking statements included in this press release. These risks and uncertainties include those set out and detailed in Chapter 3 “Risk Factors” of the registration document approved on 22 May 2024 by the French financial markets’ authority (“Autorité des marchés financiers”) under number I. 24-010. Forward-looking statements speak only as of the date of this press release and the Group expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements included in this press release to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based. Forward-looking information and statements are not guarantees of future performances and are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Group. Actual results could differ materially from those expressed in, or implied or projected by, forward-looking information and statements. This press release is provided for information purposes only. It does not constitute and should not be deemed to constitute an offer to the public of securities.

    1 Formerly ProxiVision.
    2 Cash conversion is defined as (adjusted EBITDA – capitalized R&D – capex) / (adjusted EBITDA – capitalized R&D).
    3 Leverage ratio is defined as net financial debt / adjusted EBITDA.
    4 Capital expenditures not paid at year-end 2024 were reclassified in working capital.
    5 As at 31 December 2024, cash and cash equivalents balance sheet position amounts to €117.2 million. Adjusted for bank overdrafts for €0.3 million and interests to be received for €1.2 million, cash and cash equivalents amount to €115.6 million as reported in the cash flow statement.

    Attachment

    The MIL Network –

  • MIL-OSI Asia-Pac: Text of the Vice-President’s address at the Colloquium on ‘International Arbitration: Indian Perspective’ organised by India International Arbitration Centre (Excerpts)

    Source: Government of India

    Posted On: 01 MAR 2025 2:41PM by PIB Delhi

    Good Morning all of you,

    When Chairman, International Arbitration Centre of India extended invitation to me, I had a very frank, forthright thought exchange with him.

     I indicated to Justice Gupta that he has a daunting task to impart much needed credibility to the Indian arbitral system. I was so happy and delighted when he reflected that some step has to be taken. I still recall what he told me. Realistic assessment of a malice and authentic diagnosis is fundamental and quintessence to find a resolution. My response was not encouraging.

     Justice Gupta was insistent. I reacted. Justice Gupta, when UNCITRAL Model came in 1994, UK and India were two countries that had historical connect and had legislation in the same year-1996, but look at the kind of jolts our Act has had ever since then. And compare it with what happened in the United Kingdom, and therefore, to impart credibility and to undertake this very daunting task, there will have to be convergence of stakeholders.

     Those stakeholders are in the legislature, in the executive, in the judiciary, and in the bar. I am so happy and delighted that he has taken the first step, and in the process, though I may be blowing out of proportion, but for a country that is home to one-sixth of humanity, this may be that step which Neil Armstrong took on 20th of July, 1969, when man landed on the moon for the first time. So my best wishes to you.

    I continue to have my concerns and reservations that every inch you will traverse will be difficult. And therefore, my caveat to what the Attorney General reflected, we are not in the global room of arbitration. We are far distant from it. We have to go much beyond our words. Our convergence will have to be on realistic fabric.

     Each one of us will have to contribute, and when we’ll self-assess, we will find we have been in neglect, and therefore, Justice Gupta, I have known him for a very long time. He means business. I therefore compliment him for getting sponsors, Baker, McKinsey, Miss Samantha Mobley, Miss Minnie Van De Pol. Your presence matters because it was in late 90s I had the occasion to attend a conference in your organisation about the state of arbitral position.

     Our Attorney General is as much in law as in academics, and my expectations from him are always more. But I can tell you and share with you, my expectations from the Attorney General are realistic. And I am sure he would carry a message from this place that he will use his office to catalyse the change, particularly with respect to legislation that is ailing our arbitral process with painful interventions that evade finality and expedition.

     I am happy to greet your Secretary General, Asian African Legal Consultative Organisation, Dr. Kamalinne Pinitpuvadol. I recall vividly what happened in G20. It was Prime Minister Modi’s vision and he succeeded in getting African Union as a permanent member of G20. European Union was already a member. When we examine this development in historical perspective, we will realise the qualitative import of it.

     Added to this, an attorney was keenly involved with that process also to put on global radar the concerns of Global South. You were there in some conferences involving members of Judiciary in the past, and therefore, indeed, a good convergence, soothing convergence Asian-African aspect. This forum has brought together accomplished minds, but I find absence of some as impactful as presence of those who are here.

     I had expected there will be greater participation of those who are reaping the harvest, those who are occupying the century stage, who happen to be your peers. In a country like ours, change takes place only when we slightly depart from formality and talk straight. But I have no doubt that this step that has generated confidence and optimism in me and I would be certainly a soldier of your agenda that the deliberations would go a long way and I would urge let the deliberations not end with this colloquium.

     Let there be extension of brainstorming sessions between individuals. We have some of the finest minds here. When I look around, when I look at my friend senior advocate, Gaurav Bannerjee look at his lineage, how many times we have discussed passionately in mission mode and then rested because handholding has to be by government stakeholders. Handholding has to be by law. Handholding has to emanate from people whose pen matters, and therefore, Justice Gupta has taken a big challenge and every challenge has inbuilt potential opportunity.

     I have no doubt we will so convert. I need not underscore the relevance of arbitral process, its need, but in our country and I can say with modest exposure to global arbitral process, I think being in the International Court of Arbitration for about three years and associated with the commission of that outfit for about nine years. Here, we are not to regain credibility. We have to establish credibility of arbitration. There is a moment subterranean where people in commerce fear arbitral process and that has to be overcome. Arbitrators play as much critical role as members of the board associated with arbitral process.

     Surprisingly, there is, I’m saying it with utmost restraint, absolute tight-fist control of a segment of a category that is involved with arbitral process determination and this tight-fist control emanates out of judicial fields and if we examine it on an objective platform, it is excruciatingly painful. This country has a rich human resource in every facet, Oceanography, Maritime, Aviation, Infrastructure and what not and the disputes are relatable to the experience which is sectoral.

     Unfortunately, we have taken in this country a very myopic view of arbitration as if it is adjudication. It is much beyond adjudication. It is not conventional adjudication as historically evaluated globally. I am enthused in making these observations because Justice Gupta’s mind is stirred by these thoughts. With all my intent not to come here, I have to yield under the pressure of his determination. Now if any country needs smoothest of judicial process, it is India, and India needs it more than any other country for several reasons.

     And why? We are a country that is on the rise. The rise is unstoppable. The rise is incremental. Ladies and gentlemen, let me reflect on the state of the nation at the moment, and I do it on some authority because I had the occasion to be in Parliament in 1989, in seat of governance as a Minister, 1991. I therefore know what the scene was then and what the scene is now.

     Exponential economic upsurge that we are witnessing. India has transformed from 11th economy a decade ago to the 5th largest global economy on way to becoming the 3rd largest ahead of Japan and Germany very shortly.

     We have 8% growth heading towards 4 trillion economy US dollars. Get little away from it. Phenomenal infrastructure growth. Those who have been to this country a decade ago and now and this very place you can see how swiftly it came or Yashobhoomi, or Indian Parliament building newer even in the phase of COVID our Highways, our Aviation sector, our Space sector, our Deep sea sector. So we have phenomenal infrastructure growth. We have 4 new airports and 1 metro system built every year. Which country in the world can do it?

     Daily 14 km of highways and world class Highways and 6 km of Eailways. A nation of 1.4 billion has deep technological penetration. 85 million have been benefited with affordable housing. 330 million with health coverage and 29 million small businesses with loans annually.

    I am giving out these figures because they have rational and rational to the extent arbitral process is concerned. Where the nation is heading? We boast of lunar and mars missions, vaccine productions, we are focussing on Semiconductors, Quantum Computing, green Hydrogen Mission. We are in single digit countries least that is focussing on artificial intelligence. We are one of the few countries in the world that is on way to exploitation of 6G commercially. And look at our spread of 4G all over the country. Every village has it. And therefore, we have all pervasive digitisation. 6.1 billion monthly digital transactions.

     Third largest global ecosystem and the largest Unicorn–Well spread out. People centric policies. Toilet in the house, gas connection in the house, electricity connection in the house, internet connection in the house, road connection, everything is there. And therefore, this development of a decade has converted India as the most aspirational nation in the world. People are now rest even in restlessness. They want more. They want more because they have tasted development. They have benefited from people centric policies. All this can come up only with the surge in economic activity. And every economic activity will have differences, disputes, requiring quick solutions.

     Sometimes, disputes and differences arise on account of perceptional variations, inadequate support, or helplessness. In this situation, it is very significant that we focus on adjudication. Now is the time when India is emerging in every field globally. Why not India should emerge as a global dispute resolution centre? If I reflect to myself and I enormously benefited by my stay as a member in the International Court of Arbitration.

     What do they have which we don’t? Their infrastructure is hardly comparable to what we have. There are cultural centres where arbitrators can really engage. Go to Kolkata, go to Jaipur, go to Bangalore, Hyderabad, Chennai, any part, get away from the metro then you’ll have. I have seen in 10 years growth of arbitral centres with credibility in Dubai and Singapore on self-assessment without fear of contradiction. For this reason, I can say we are nowhere.

     We are not in the mind of people who are having commercial relationship with us if it is international commercial arbitration. There was a time when this country had for the first time a power purchase agreement. My friend Gaurav Banerjee will bear me out. The agreement was settled by a law firm outside the country, but Justice Gupta, it provided for tariff on three terms. One tariff was A, if arbitration is in India as per Indian law, then the tariff will be cheaper by A minus 1. If the arbitration is in India but not according to Indian law. It will still be cheaper if the arbitration was outside India and under outside legal regime. That we have to change, and this finds reflection in power purchase agreement of UNRWA.

     We when are particularly suited naturally, culturally and otherwise the richest human resource on the globe with highest adaptability of Indian mind to highly skilled required techniques and that is why you will find formal economy taking place on account of digital transactions, therefore, time for us to get into a groove to be part of the marathon march that is taking place in the country for India to be a developed nation and India is no longer a country with potential and developed nation status is not our dream it is our destination, and all world organisations that in ‘90 when I was a part of the government were absolutely on us are accolading us global centre favourite centre of Investment and opportunity– International Monetary Fund says World Bank has applauded us that our digitisation accomplished in about six years is not otherwise attainable even in more than four decades we have done it.

     And therefore we will have to go to certain basics I can suggest some, A Former Chief Justice of this country, I am not concerned about the legacy left or the footprints, the nature of which he left but he did make an observation process has become old boys club he was referring to retired judges participation arbitral process.

     I should not be misunderstood even for a moment retired judges of this country are an asset to arbitral process they lend credibility to us. I know some of the former Chief Justices and Judges being absolutely appreciated globally for international commercial arbitration – Justice Lodha, Justice Thakur.

     Let me tell you amazing all of the judges justice everyone is doing I am not for a moment saying keep away from them, No!

     But there are areas where the arbitral tribal needs to be supplemented by experts in the field of Oceanography in Aviation in Infrastructure our judges are perhaps the best in the world. They apply mind, and therefore not for a moment, I should be misunderstood. I do not share the observation of the former Chief justice of old boys’ club. Justice Gupta is immediately suited going by his passion and commitment for bringing about a big change, but I am taking a critic’s view and critic’s view is that the Attorney General of the country can really reflect and make a big change this country in the world tell me has suo-moto cognisance by the highest court.

     I am sure I can’t look around, and Article 136 intervention was supposed to be a narrow slit. The wall has been demolished with anything and everything under the sun including what a Magistrate has to do, What a Sessions Judge as to do, what a District Judge has to do, what a High Court judge has to do, that wall demolition is also hurting Arbitral process.

     All I am suggesting in all humility and a concerned citizen of this country that the issue which you are debating is of critical importance to Micro-small industries they want facile easy arbitral process. For want of time I would not be able to say all I wish to say, and since I have shared my thoughts in private with Justice Gupta, I would concludingly sum up.

     Let us navigate because it is time for us to navigate step by step from alternative resolution to amicable resolution. Why should it be alternative it must be first option why should it be substitute to litigation so amicable resolution from dispute resolution to difference resolution why do we label it, dispute these are differences these are differences because a new person has taken to a particular enterprise in Make in India, he has engaged in a startup. there is some difference this difference he wants to iron out because he is not all in all.

     He can’t have various departments and therefore, let us convert it from dispute resolution to difference resolution and then why resolution? Why not make it from resolution to settlement and why look for judicially enforceable package of Awards. Let us get into consensual convergence.

     All these in my modest assessment will secure commercial partnerships. They will not break partnerships. They will nurture partnerships in commerce, business, trade and industry they will ensure their blossoming. This will augur well for the economic growth and this will also place us in the global arbitration room where presently we are far distanced.

     At the moment, ladies and gentlemen, I have no doubt, let me make my mind clear in a concluding sentence: the arbitral process in our country is just an additional burden to the normal hierarchical mechanism of adjudication. I am grateful to the opportunity accorded to me by Justice Gupta. I wish him good luck and I stand committed to be at your disposal in any manner you feel appropriate or expedient.

    Ladies and gentlemen, thank you so much for your time and patience.

    ******

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  • MIL-OSI Asia-Pac: Prime Minister Shri Narendra Modi addresses the post-budget webinar on agriculture and rural prosperity

    Source: Government of India (2)

    Prime Minister Shri Narendra Modi addresses the post-budget webinar on agriculture and rural prosperity

    Our resolve to move towards the goal of Viksit Bharat is very clear: PM

    Together we are working towards building an India where farmers are prosperous and empowered: PM

    We have considered agriculture as the first engine of development, giving farmers a place of pride: PM

    We are working towards two big goals simultaneously – development of agriculture sector and prosperity of our villages: PM

    We have announced ‘PM Dhan Dhanya Krishi Yojana’ in the budget, under this, focus will be on the development of 100 districts with the lowest agricultural productivity in the country: PM

    Today people have become very aware about nutrition; therefore, in view of the increasing demand for horticulture, dairy and fishery products, a lot of investment has been made in these sectors; Many programs are being run to increase the production of fruits and vegetables: PM

    We have announced the formation of Makhana Board in Bihar: PM

    Our government is committed to making the rural economy prosperous: PM

    Under the PM Awas Yojana-Gramin, crores of poor people are being given houses, the ownership scheme has given ‘Record of Rights’ to property owners: PM

    Posted On: 01 MAR 2025 1:59PM by PIB Delhi

    The Prime Minister Shri Narendra Modi addressed the post-budget webinar on agriculture and rural prosperity today via video-conferencing. Emphasizing the importance of participation in the post-budget webinar, the Prime Minister thanked everyone for joining the program and highlighted that this year’s budget is the first full budget of the Government’s third term, showcasing continuity in policies and a new expansion of the vision for Viksit Bharat. He acknowledged the valuable inputs and suggestions from all stakeholders before the budget, which were very helpful. He stressed that the role of stakeholders has become even more crucial in making this budget more effective.

    “Our resolve towards the goal of Viksit Bharat is very clear and together, we are building an India where farmers are prosperous and empowered”, exclaimed Shri Modi and highlighted that the effort is to ensure no farmer is left behind and to advance every farmer. He stated that agriculture is considered the first engine of development, giving farmers a place of pride. “India is simultaneously working towards two major goals: the development of the agriculture sector and the prosperity of villages”, he mentioned.

    Shri Modi highlighted that the PM Kisan Samman Nidhi Yojana, implemented six years ago, has provided nearly ₹3.75 lakh crore to farmers and the amount has been directly transferred to the accounts of 11 crore farmers. He emphasized that the annual financial assistance of ₹6,000 is strengthening the rural economy. He mentioned that a farmer-centric digital infrastructure has been created to ensure the benefits of this scheme reach farmers across the country, eliminating any scope for intermediaries or leakages. The Prime Minister remarked that the success of such schemes is possible with the support of experts and visionary individuals. He appreciated their contributions, stating that any scheme can be implemented with full strength and transparency with their help. He expressed his appreciation for their efforts and mentioned that the Government is now working swiftly to implement the announcements made in this year’s budget, seeking their continued cooperation.

    Underlining that India’s agricultural production has reached record levels, the Prime Minister said that 10-11 years ago, agricultural production was around 265 million tons, which has now increased to over 330 million tons. Similarly, horticultural production has exceeded 350 million tons. He attributed this success to the Government’s approach from seed to market, agricultural reforms, farmer empowerment, and a strong value chain. Shri Modi emphasized the need to fully utilize the country’s agricultural potential and achieve even bigger targets. In this direction, the budget has announced the PM Dhan Dhanya Krishi Yojana, focusing on the development of the 100 least productive agricultural districts, he added. The Prime Minister mentioned the positive results seen from the Aspirational Districts program on various development parameters, benefiting from collaboration, convergence, and healthy competition. He urged everyone to study the outcomes from these districts and apply the learnings to advance the PM Dhan Dhanya Krishi Yojana, which will help increase farmers’ income in these 100 districts.

    Prime Minister underscored that efforts in recent years have increased the country’s pulse production, however, 20 percent of domestic consumption still relies on imports, necessitating an increase in pulse production. Heremarked that while India has achieved self-sufficiency in chickpeas and mung, there is a need to accelerate the production of pigeon peas, black gram, and lentils. To boost pulse production, it is essential to maintain the supply of advanced seeds and promote hybrid varieties, he stated, stressing on the need to focus on addressing challenges such as climate change, market uncertainty, and price fluctuations.

    Pointing out that in the past decade, ICAR has utilized modern tools and cutting-edge technologies in its breeding program, and as a result, over 2,900 new varieties of crops, including grains, oilseeds, pulses, fodder, and sugarcane, have been developed between 2014 and 2024, the Prime Minister emphasized the need to ensure that these new varieties are available to farmers at affordable rates and that their produce is not affected by weather fluctuations. He mentioned the announcement of a national mission for high-yield seeds in this year’s budget. He urged private sector participants to focus on the dissemination of these seeds, ensuring they reach small farmers by becoming part of the seed chain.

    Shri Modi remarked that there was a growing awareness about nutrition among people today and underscored that significant investments have been made in sectors such as horticulture, dairy, and fishery products to meet the increasing demand. He mentioned that various programs were being implemented to boost the production of fruits and vegetables, and the formation of the Makhana Board in Bihar has been announced. He urged all stakeholders to explore new ways to promote diverse nutritional foods, ensuring their reach to every corner of the country and the global market.

    Recalling the launch of the PM Matsya Sampada Yojana in 2019, aimed at strengthening the value chain, infrastructure, and modernization of the fisheries sector, the Prime Minister stated that this initiative had improved production, productivity, and post-harvest management in the fisheries sector, while the investments in this sector had increased through various schemes, resulting in a doubling of fish production and exports. He underlined the need to promote sustainable fishing in the Indian Exclusive Economic Zone and open seas, and a plan will be prepared for this purpose. Shri Modi urged stakeholders to brainstorm ideas to promote ease of doing business in this sector and start working on them as soon as possible. He also stressed the importance of protecting the interests of traditional fishermen.

    “Our Government is committed to enriching the rural economy”, said the Prime Minister and highlighted that under the PM Awas Yojana-Gramin, crores of poor people are being provided with homes, and the Swamitva Yojana has given property owners ‘Record of Rights.’ He mentioned that the economic strength of self-help groups has increased, and they have received additional support. He noted that the Pradhan Mantri Gram Sadak Yojana has benefited small farmers and businesses. Reiterating the goal to create 3 crore Lakhpati Didis, while efforts have already resulted in 1.25 crore women becoming Lakhpati Didis, Shri Modi emphasized that the announcements in this budget for rural prosperity and development programs have created numerous new employment opportunities. Investments in skilling and technology are generating new opportunities, he added. The Prime Minister urged everyone to discuss how to make the ongoing schemes more effective. He expressed confidence that positive results will be achieved with their suggestions and contributions. He concluded by stating that active participation from everyone will empower villages and enrich rural families. He expressed confidence that the webinar will help ensure swift implementation of the schemes of the budget. He urged all the stakeholders involved to work in unison to achieve the targets of the budget.

     

     

    ***

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  • MIL-OSI Asia-Pac: 88th Meeting of Network Planning Group under PM GatiShakti evaluates key Infrastructure projects

    Source: Government of India

    88th Meeting of Network Planning Group under PM GatiShakti evaluates key Infrastructure projects

    NPG evaluates Road, Railway, Information Technology and Metro Projects

    Posted On: 01 MAR 2025 11:29AM by PIB Delhi

    The 88th meeting of the Network Planning Group (NPG), chaired by Shri E. Srinivas, Joint Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), convened today to evaluate infrastructure projects in the Road, Railway, InformationTechnology and Metro sectors. The meeting focused on enhancing multimodal connectivity and logistics efficiency in alignment with the PM GatiShakti National Master Plan (PMGS NMP).

    The NPG evaluated eleven projects (7- Road, 2- Railway, 1- InformationTechnology and 1- Metro) for their conformity to the PM GatiShakti principles of integrated multimodal infrastructure, last-mile connectivity to economic and social nodes and intermodal coordination. These initiatives are expected to boost logistical efficiency, reduce travel times, and deliver significant socio-economic benefits across regions. The evaluation and anticipated impacts of these projects are detailed below:

    Ministry of Road Transport and Highways (MoRTH)

     

    4 lane NH from Kishanganj – Bahadurganj

    The 4-Lane NH from Kishanganj-Bahadurganj Road Project is a Greenfield development with alignment length of 23.649 km in Kishanganj, Bihar. The road will connect NH-27 and NH-327E, enhancing regional mobility, reducing congestion and enhance trade connectivity between Bihar and West Bengal. The project includes flyovers, major bridges, service roads and underpasses to ensure smooth vehicular movement and improved accessibility.

     

    Greenfield Regional Expressway  from Girmapur village (on NH-65) in Sangareddy district to Choutuppal (on NH-65)

    The Northern Portion of Hyderabad Regional Ring Road Expressway is a Greenfield expressway project under Bharatmala Pariyojana. It aims to develop a 158.64 km long 4-lane access-controlled expressway connecting Girmapur village (on NH-65) in Sangareddy district to Choutuppal (on NH-65) in Yadadri Bhuvanagiri district, passing through Sangareddy, Medak, Siddipet and Yadadri Bhuvanagiri districts in Telangana. It is designed to provide a high-speed corridor with grade separators, interchanges. Additionally, it will facilitate better linkages to key economic nodes, including SEZs, mega food parks, pharma hubs and textile clusters.

    4 lane Access Controlled Sirhind – Sehna section

     

    The project includes development of the four-lane access-controlled Sirhind-Sehna section of NH-205AG as part of the Mohali-Barnala Inter Corridor Route in Punjab. The project has alignment length of 106.92 km. The project is a key component of the Bharatmala Pariyojana Phase-I, providing an alternative to congested urban roadways and linking critical expressways such as the Delhi-Amritsar-Katra Expressway and the Amritsar-Jamnagar Economic Corridor.

     

    Six Lane Connectivity to Visakhapatnam Port Road (Sabbavaram to Sheelanagar Junction)

     

    The proposed project consists of development of a six-lane connectivity road from Sabbavaram to Sheelanagar Junction in Visakhapatnam Andhra Pradesh, under Bharatmala Pariyojana. The project with length of 12.66 km, is designed to ease congestion on NH-16 by providing a dedicated corridor for port-bound traffic, thereby reducing interference with local commuters in Visakhapatnam city. The Greenfield corridor (97%) will ensure efficient cargo evacuation and improve overall logistical operations for Visakhapatnam Port.

     

    Jaipur Northern Ring Road

     

    The proposed greenfield project is aligned outside the urban core of Jaipur, connecting key corridors including Ajmer Road, Agra Road and the Jaipur Bandikui Spur. This ring road will alleviate traffic congestion in the northwest region of the city by diverting heavy commercial traffic from NH-48 and NH-52. Additionally, the design incorporates major and minor bridges, toll plazas and service roads, augmenting connectivity enhancements for both residents and businesses.

     

    Upgradation to two lane with paved shoulder from Limbdi to Dhrangadhra

    The proposed project includes upgradation of the Limbdi- Dhrangadhra section of NH-51 in Gujarat to a two-lane highway with paved shoulders. This Brownfield project with Greenfield bypasses and realignments spans 62.822 km in Surendranagar district and aims to enhance connectivity between the Saurashtra and Kachchh regions. The corridor links key highways, namely Ahmedabad- Viramgam-Maliya (SH-7) and Ahmedabad-Rajkot (NH-47).

     

    6 Lane Zirakpur Bypass including 3 level interchange at both ends

     

    The proposed Zirakpur Bypass is a 6-lane highway project that will connect NH-7 (Zirakpur-Patiala) and NH-5 (Zirakpur-Parwanoo), spanning 19.2 km across Punjab and Haryana. The project aims to alleviate heavy congestion in Zirakpur, Panchkula and surrounding areas. The bypass will include three-level interchanges at both ends, multiple culverts, vehicular overpasses and underpasses, ensuring smooth traffic flow.

     

    Ministry of Railways (MoR)

     

    New BG Line from Bhagalpur to Jamalpur

     

    The New Broad Gauge (BG) Line from Bhagalpur to Jamalpur (52.810 km) is a brownfield project. The project aims to enhance railway capacity and connectivity in Bihar’s Bhagalpur and Munger districts. The project will connect Bhagalpur, Sultanganj and Jamalpur, facilitating efficient freight and passenger movement while reducing congestion on existing railway lines.

     

    Doubling line between Aurangabad-Parbhani stations

     

    The Proposed Doubling of the Aurangabad-Parbhani Railway Line (177.29 km) is a brownfield expansion project. The project aims to decongest the Vijayawada-Balharshah (HDN) and Secunderabad-Mumbai corridors, providing an efficient alternative for freight and passenger movement. The line runs through Aurangabad, Jalna and Parbhani districts in Maharashtra, benefiting industries, tourism and trade in the region.

     

    Ministry of Electronics and Information Technology (MeitY)

     

    National Knowledge Network Phase – II

     

    The National Knowledge Network (NKN) Phase-II is an advanced high-speed network initiative by the Government of India, aimed at strengthening the backbone of national research, education and e-Governance infrastructure. The network facilitates seamless connectivity for research institutions, universities and government departments, ensuring uninterrupted access to data resources and digital platforms.

     

    Ministry of Housing and Urban Affairs (MoHUA)

     

    Metro Project- GIFT City to GIFT

     

    GIFT City Metro Corridor, having length of 7.585 km and to be implemented in two phases, is designed to enhance urban mobility for the Gujarat International Finance Tec-City (GIFT) in Gujarat. This will yield significant socio-economic benefits such as reduced travel time, lower fuel consumption and a substantial drop in vehicular emissions and accidents.

    ***

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  • MIL-OSI Africa: Secretary-General’s message on World Wildlife Day [scroll down for French version]

    Source: United Nations – English

    umanity’s relationship with nature is at a tipping point.

    Our addiction to fossil fuels and unsustainable use of resources is driving ecosystems to collapse and species to extinction, while investments in biodiversity protection are dwindling.

    This is a recipe for disaster not only for nature, but for communities around the world counting on healthy ecosystems for their well-being and very survival.

    It’s time to choose another, smarter path.  

    This year, World Wildlife Day highlights the need for conservation finance.

    Investing in healthy ecosystems is vital to providing clean air and water, regulating our climate, and supporting livelihoods.

    This requires mobilizing public and private resources to conserve wildlife and habitats; honouring financial commitments and supporting vulnerable countries where biodiversity is most at risk; reducing financial pressure from debt distress and climate shocks; developing innovative solutions like green and blue bonds; applying the United Nations’ Multidimensional Vulnerability Index to steer affordable financing; and ensuring that Indigenous Peoples and local communities — the first line of defense for our ecosystems — have equitable access to funds.

    The recently adopted Pact for the Future includes a revitalized commitment to halt and reverse global biodiversity loss by 2030.

    Getting there requires financing.  Together, let’s invest in a future where nature and people thrive together.

    *****
    La relation que l’humanité entretient avec la nature atteint un point de rupture.

    Notre dépendance aux énergies fossiles et l’utilisation non durable des ressources entraînent un effondrement des écosystèmes et l’extinction des espèces, alors même que les investissements en faveur de la protection de la biodiversité diminuent.

    Si les choses continuent ainsi, c’est la catastrophe assurée – non seulement pour la nature, mais aussi pour les communautés du monde entier qui ont besoin d’écosystèmes sains pour vivre et pour survivre.

    Il est temps d’opter pour une voie plus sensée.

    Cette année, la Journée mondiale de la vie sauvage met l’accent sur la nécessité de financer les activités de conservation.

    Il est indispensable d’investir dans des écosystèmes sains pour bénéficier d’un air et d’une eau propres, réguler notre climat et assurer des moyens de subsistance.

    Pour cela, il faut mobiliser des ressources publiques et privées en faveur de la préservation des espèces sauvages et de leurs habitats ; honorer les engagements financiers pris et épauler les pays vulnérables dans lesquels la biodiversité est la plus menacée ; atténuer la pression financière due au surendettement et aux chocs climatiques, imaginer des solutions innovantes telles que les obligations vertes et bleues ; appliquer l’indice de vulnérabilité multidimensionnelle établi par l’ONU pour orienter des financements abordables ; et veiller à ce que les peuples autochtones et les communautés locales – qui constituent la première ligne de défense de nos écosystèmes – jouissent d’un accès équitable aux sources de financement.

    Le Pacte pour l’avenir, récemment adopté, comprend un engagement renouvelé à faire cesser et reculer la perte de biodiversité mondiale d’ici à 2030.

    Pour y parvenir, il faut des financements. Ensemble, investissons dans un avenir qui permette à la nature et à l’humanité de prospérer ensemble.

    MIL OSI Africa –

  • MIL-OSI United Nations: Secretary-General’s message on World Wildlife Day [scroll down for French version]

    Source: United Nations secretary general

    Humanity’s relationship with nature is at a tipping point.

    Our addiction to fossil fuels and unsustainable use of resources is driving ecosystems to collapse and species to extinction, while investments in biodiversity protection are dwindling.

    This is a recipe for disaster not only for nature, but for communities around the world counting on healthy ecosystems for their well-being and very survival.

    It’s time to choose another, smarter path.  

    This year, World Wildlife Day highlights the need for conservation finance.

    Investing in healthy ecosystems is vital to providing clean air and water, regulating our climate, and supporting livelihoods.

    This requires mobilizing public and private resources to conserve wildlife and habitats; honouring financial commitments and supporting vulnerable countries where biodiversity is most at risk; reducing financial pressure from debt distress and climate shocks; developing innovative solutions like green and blue bonds; applying the United Nations’ Multidimensional Vulnerability Index to steer affordable financing; and ensuring that Indigenous Peoples and local communities — the first line of defense for our ecosystems — have equitable access to funds.

    The recently adopted Pact for the Future includes a revitalized commitment to halt and reverse global biodiversity loss by 2030.

    Getting there requires financing.  Together, let’s invest in a future where nature and people thrive together.

    *****
    La relation que l’humanité entretient avec la nature atteint un point de rupture.

    Notre dépendance aux énergies fossiles et l’utilisation non durable des ressources entraînent un effondrement des écosystèmes et l’extinction des espèces, alors même que les investissements en faveur de la protection de la biodiversité diminuent.

    Si les choses continuent ainsi, c’est la catastrophe assurée – non seulement pour la nature, mais aussi pour les communautés du monde entier qui ont besoin d’écosystèmes sains pour vivre et pour survivre.

    Il est temps d’opter pour une voie plus sensée.

    Cette année, la Journée mondiale de la vie sauvage met l’accent sur la nécessité de financer les activités de conservation.

    Il est indispensable d’investir dans des écosystèmes sains pour bénéficier d’un air et d’une eau propres, réguler notre climat et assurer des moyens de subsistance.

    Pour cela, il faut mobiliser des ressources publiques et privées en faveur de la préservation des espèces sauvages et de leurs habitats ; honorer les engagements financiers pris et épauler les pays vulnérables dans lesquels la biodiversité est la plus menacée ; atténuer la pression financière due au surendettement et aux chocs climatiques, imaginer des solutions innovantes telles que les obligations vertes et bleues ; appliquer l’indice de vulnérabilité multidimensionnelle établi par l’ONU pour orienter des financements abordables ; et veiller à ce que les peuples autochtones et les communautés locales – qui constituent la première ligne de défense de nos écosystèmes – jouissent d’un accès équitable aux sources de financement.

    Le Pacte pour l’avenir, récemment adopté, comprend un engagement renouvelé à faire cesser et reculer la perte de biodiversité mondiale d’ici à 2030.

    Pour y parvenir, il faut des financements. Ensemble, investissons dans un avenir qui permette à la nature et à l’humanité de prospérer ensemble.

    MIL OSI United Nations News –

  • MIL-OSI: Subsidiaries of Aktsiaselts Infortar change business names

    Source: GlobeNewswire (MIL-OSI)

    According to the stock exchange announcement made on December 19, 2024, the changes in the National Court Register have now taken effect, whereby the Polish energy companies belonging to the Elenger Grupp have adopted the business name Elenger. EWE Polska Sp. z o.o. has been renamed Elenger Polska Sp. z o.o. The subsidiaries’ business names have been changed accordingly: EWE Energia Sp. z o.o. is Elenger Dystrybucja Sp. z o.o. and EWE Przesył Sp. z o.o. is Elenger Serwis Sp. z o.o.

    Infortar operates in seven countries, the company’s main fields of activity are maritime transport, energy and real estate. Infortar owns a 68.47% stake in Tallink Grupp, a 100% stake in Elenger Grupp and a versatile and modern real estate portfolio of approx. 141,000 m2. In addition to the three main areas of activity, Infortar also operates in construction and mineral resources, agriculture, printing, and other areas. A total of 110 companies belong to the Infortar group: 101 subsidiaries, 4 affiliated companies and 5 subsidiaries of affiliated companies. Excluding affiliates, Infortar employs 6,228 people.

    Additional information:

    Kadri Laanvee
    Investor Relations Manager
    Phone: +372 5156662
    e-mail: kadri.laanvee@infortar.ee
    www.infortar.ee/en/investor

    The MIL Network –

  • MIL-OSI: ING acquires stake in Van Lanschot Kempen

    Source: GlobeNewswire (MIL-OSI)

    ING acquires stake in Van Lanschot Kempen

    ING announced today that it has reached an agreement with Reggeborgh Groep B.V. on the acquisition of a 17.6% stake in Van Lanschot Kempen N.V., a specialist wealth manager serving Private, Institutional and Investment banking clients, operating predominantly in the Netherlands and Belgium. Together with an existing 2.7% stake, ING will hold a 20.3% stake in Van Lanschot Kempen after completion of the transaction.

    “Van Lanschot Kempen is a respected, listed, well-capitalised, profitable wealth manager with a strong specialist position in amongst others the Netherlands and Belgium. Their history goes back almost three centuries. Acquiring this stake presents an attractive financial opportunity and with this transaction we are executing on our goal to enhance our position in private banking and wealth management,” said ING CEO Steven van Rijswijk. “We see this transaction as a long-term financial investment and we support Van Lanschot Kempen’s management, recognising the strong progress in the execution of their strategy.”

    Under the terms of the agreement, ING has directly acquired a stake of 7.2%, bringing its stake in Van Lanschot Kempen to 9.9%. The remainder of the transaction is subject to regulatory approval. The transaction is expected to have a minimal impact on ING’s CET1 ratio.

    Note for editors

    For more 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.

    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 including Euronext, STOXX, Morningstar and FTSE Russell.

    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 Australia: Allens advises Zenith on $1.9 billion refinancing

    Source: Allens Insights

    Allens has advised Zenith Energy on its $1.9 billion refinancing and increase to its existing bank debt facilities, providing more than $1 billion in growth capital to support the development of new projects.

    The refinancing, backed by a syndicate of 14 Australian and international lenders, provides growth funding to support Zenith’s financial capacity as it expands its role in delivering renewable and hybrid power solutions. A portion of the transaction includes green loan facilities structured under Zenith’s Green Finance Framework, aligning with the Asia Pacific Loan Market Association’s Green Loan Principles.

    ‘We congratulate Zenith and the financiers on this significant transaction, which supports Zenith’s ability to capitalise on the opportunities of the energy transition. This refinancing highlights the strong market confidence in Zenith’s strategy and the role it plays in enabling decarbonisation in the resources sector. We are very pleased to continue our long standing relation with Zenith and to be able to support it into the future,’ said partner Rod Aldus.

    Allens legal team

    Banking & Finance

    Rod Aldus (Partner), Michael Ryan (Partner), Tania Joppich (Senior Associate), Bronte Barber (Lawyer)

    MIL OSI News –

  • MIL-OSI Australia: Arrest – Domestic violence – Gillen

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Force has arrested a 27-year-old male in relation to a domestic violence incident that occurred in Alice Springs overnight.

    Around 10pm, police received a report that a female had been stabbed by her male partner at a residence in Gillen. Police attended and located the victim with non-life-threatening injuries to her head, arms and lower back. She was conveyed to the Alice Springs Hospital in a stable condition.

    The offender fled the scene prior to police arrival and investigations commenced.

    Police subsequently identified and located the 27-year-old male offender at the base of West Gap, where he was arrested.

    The offender was charged with Aggravated Assault and Engage in conduct that contravenes domestic violence order. He remains in police custody and will appear in the Alice Springs Local Court at a later date.

    Investigations are ongoing and police urge anyone with information to call 131 444 and quote reference NTP2500022523. Anonymous reports can also be made through Crime Stoppers on 1800 333 000.

    If you or someone you know are experiencing difficulties due to domestic violence, support services are available, including, but not limited to, 1800RESPECT (1800737732) or Lifeline 131 114.

    MIL OSI News –

  • MIL-OSI New Zealand: Northland Regional Council media briefs 03/03/2025

    Source: Northland Regional Council

    NRC seeking feedback on Marsden Maritime Holdings, Northport proposal
    Northland Regional Council is seeking feedback on a proposal that would see the ownership structure of Marsden Maritime Holdings (MMH) and Northport simplified, to set the region’s port up for the future.
    Together with investment partners Port of Tauranga and Tupu Tonu (Ngāpuhi Investment Fund Ltd), the council is proposing to create a new joint-venture company combining MMH and Northport.
    Shareholding in the new company would be NRC (43%), Tupu Tonu (7%) and Port of Tauranga (50%), and would increase Northland’s stake in the port – a regionally-significant asset.
    CityLink bus services at Vine St
    A reminder to CityLink Whangārei bus passengers that the bus hub has moved from Rose Street to Vine Street.
    All CityLink buses now start and finish their journeys at Vine Street, while construction of the new Rose Street bus hub is ongoing.
    The bus office and toilets are available in the Vine Street car park. Staff are ready to help with all your BeeCard top-ups, purchases and queries. Look for the portacom with the posters! Vine Street car park remains open.
    The construction works for the new bus hub are estimated to take around seven months, so should complete in July 2025. We apologise for any inconvenience while the works are ongoing.

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Operation eclipse searches leads to biggest find yet

    Source: South Australia Police

    Police have seized over $2.38 million worth of illicit tobacco and $391,000 in cash in raids last week on premises in regional and metropolitan South Australia.

    Members from Serious and Organised Crime Branch, Financial and Cybercrime Investigation Branch and Whyalla searched fourteen premises in metropolitan and regional areas between 24 and 27 February as part of Operation Eclipse investigations.

    The locations searched included tobacconists, candy and gift shops, mini marts, commercial storage facilities, vehicles and residential premises.

    In searches of commercial storage facilities at Burton and Parafield Gardens, four large shipping containers containing illicit tobacco was located. The value of the tobacco located at these properties was approximately $2 million dollars. Police are aware that these storage facilities are being used to store tobacco, which is then used to supply illicit retail outlets.

    Two vehicle stops were also conducted at Port Wakefield and Salisbury resulting in illegal tobacco and cash being seized. These searches resulted in the largest seizure of illicit tobacco to date in South Australia. Investigations into the seizures are ongoing.

    Operation Eclipse commander Detective Chief Inspector Brett Featherby said the cash seizures demonstrates the significant amount of money being generated from the illicit tobacco market.

    “We seek to continue to disrupt their financial operations and criminal activity and pursue criminal charges where evidence exists”

    “SA Police will continue to investigate organised crime syndicates operating statewide through a whole of SA Police response. We will also target people supporting them as they evolve to prevent and suppress serious criminal activity and ensure community safety”

    Operations Eclipse has now searched a total of 136 premises and seized approximately $12.5 million in illicit tobacco products.

    Anyone with any information on criminal activities surrounding the sale of illicit tobacco is urged to call Crime Stoppers on 1800 333 000 or visit crimstopperssa.com.au, you can remain anonymous.

    MIL OSI News –

  • MIL-OSI: AGM Group Holdings Inc. Announces Pricing of $5.4 Million Public Offering

    Source: GlobeNewswire (MIL-OSI)

    Beijing, March 02, 2025 (GLOBE NEWSWIRE) — AGM Group Holdings Inc. (“AGM Holdings” or the “Company”) (NASDAQ: AGMH), an integrated technology company specializing in the assembling and sales of high-performance hardware and computing equipment, today announced the pricing of its public offering of 16,390,000 Class A ordinary shares and accompanying warrants to purchase up to an aggregate of 16,390,000 Class A ordinary shares at a combined public offering price of $0.33. The warrants will expire on the fifth anniversary from the date of issuance, will be exercisable immediately at an initial exercise price of $0.33 per share, subject to adjustment upon a one-time reset on the Reset Date (as described in the warrants), and subject to a floor price described therein. The warrants may also be exercised on an alternative cashless basis pursuant to which the holder may exchange each warrant for 1.2 Class A ordinary shares.

    Gross proceeds to the Company, before deducting placement agent’s fees and other offering expenses, are expected to be approximately $5.4 million. The offering is expected to close on or about March 4, 2025, subject to the satisfaction of customary closing conditions.

    Maxim Group LLC is acting as sole placement agent in connection with the offering.

    The securities above are being offered pursuant to a registration statement on Form F-1, as amended, (File No. 333-282420) which was declared effective by the Securities and Exchange Commission (the “SEC”) on February 28, 2025. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. The offering is being made only by means of a prospectus forming part of the effective registration statement. Electronic copies of the prospectus relating to this offering, when available, may also be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022, Attention: Syndicate Department, by telephone at (212) 895-3745 or by email at syndicate@maximgrp.com.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

    About AGM Group Holdings Inc.

    AGM Group Holdings Inc. (NASDAQ: AGMH) is an integrated technology company specializing in the assembling and sales of high-performance hardware and computing equipment. With a mission to become a key participant and contributor in the global blockchain ecosystem, AGMH focuses on the research and development of blockchain-oriented Application-Specific Integrated Circuit (ASIC) chips, the assembling and sales of high-end crypto miners for Bitcoin and other cryptocurrencies. For more information, please visit www.agmprime.com.

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the U.S. Securities and Exchange Commission.

    For more information, please contact:

    AGM Group Holdings Inc.
    Email: ir@agmprime.com
    Website: http://www.agmprime.com

    Ascent Investor Relations LLC
    Tina Xiao
    President
    Phone: +1-646-932-7242
    Email: investors@ascent-ir.com

    The MIL Network –