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Category: GlobeNewswire

  • MIL-OSI: NB Private Equity: Holding(s) in Company

    Source: GlobeNewswire (MIL-OSI)

    TR-1: Standard form for notification of major holdings

    1. Issuer Details
    ISIN
    GG00B1ZBD492
    Issuer Name
    NB PRIVATE EQUITY PARTNERS LIMITED
    UK or Non-UK Issuer
    Non-UK
    2. Reason for Notification
    An acquisition or disposal of voting rights
    3. Details of person subject to the notification obligation
    Name
    Quilter Plc
    City of registered office (if applicable)
    London
    Country of registered office (if applicable)
    United Kingdom
    4. Details of the shareholder
    Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above

    City of registered office (if applicable)

    Country of registered office (if applicable)

    5. Date on which the threshold was crossed or reached
    31-Jan-2025
    6. Date on which Issuer notified
    06-Feb-2025
    7. Total positions of person(s) subject to the notification obligation

    . % of voting rights attached to shares (total of 8.A) % of voting rights through financial instruments (total of 8.B 1 + 8.B 2) Total of both in % (8.A + 8.B) Total number of voting rights held in issuer
    Resulting situation on the date on which threshold was crossed or reached 10.298234 0.000000 10.298234 4759831
    Position of previous notification (if applicable) 14.987802 0.000000 14.987802  

    8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
    8A. Voting rights attached to shares

    Class/Type of shares ISIN code(if possible) Number of direct voting rights (DTR5.1) Number of indirect voting rights (DTR5.2.1) % of direct voting rights (DTR5.1) % of indirect voting rights (DTR5.2.1)
    GG00B1ZBD492   4759831   10.298234
    Sub Total 8.A 4759831 10.298234%

    8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

    Type of financial instrument Expiration date Exercise/conversion period Number of voting rights that may be acquired if the instrument is exercised/converted % of voting rights
             
    Sub Total 8.B1      

    8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

    Type of financial instrument Expiration date Exercise/conversion period Physical or cash settlement Number of voting rights % of voting rights
               
    Sub Total 8.B2      

    9. Information in relation to the person subject to the notification obligation
    2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)

    Ultimate controlling person Name of controlled undertaking % of voting rights if it equals or is higher than the notifiable threshold % of voting rights through financial instruments if it equals or is higher than the notifiable threshold Total of both if it equals or is higher than the notifiable threshold
    Quilter Plc Quilter Investors Limited 0.305208   0.305208%
    Quilter Plc Quilter Cheviot Europe Limited 0.324496   0.324496%
    Quilter Plc Quilter Cheviot Limited 8.241279   8.241279%
    Quilter Plc Quilter Cheviot International Limited 1.427249   1.427249%

    10. In case of proxy voting
    Name of the proxy holder

    The number and % of voting rights held

    The date until which the voting rights will be held

    11. Additional Information

    12. Date of Completion
    06-Feb-2025
    13. Place Of Completion
    London,UK

    The MIL Network –

  • MIL-OSI: Calian Signs over $50M in Defence Contracts in Q1

    Source: GlobeNewswire (MIL-OSI)

    OTTAWA, Ontario, Feb. 06, 2025 (GLOBE NEWSWIRE) — Calian Group Ltd. (TSX: CGY), announced today that it signed over $50 million in new and renewed multi-year defence contracts in the first quarter of fiscal year 2025 highlighting the continued need for mission-critical defence solutions and the value Calian provides to Canada’s defence, NATO and our allies.  

    Of the almost 30 contracts, half will provide operational readiness training, including one for NATO’s Joint Warfare Centre (JWC). Under the terms of the agreement, Calian will serve as the prime contractor, providing the majority of JWC’s critical defence training in the form of military and civilian subject matter experts to support JWC in delivering on its mission to train NATO forces at the strategic and operational levels. This support will include helping ensure forces can work together efficiently in a crisis and increasing the effectiveness and readiness of NATO’s multinational forces.

    “The surge in global defence budgets underscores the demands of modern warfare and continued geopolitical instability,” said Kevin Ford, CEO of Calian. “As we look ahead, Calian recognizes our militaries need trusted, dependable partners to deliver mission-critical solutions. With capabilities that support personnel readiness, equipment reliability and secure, scalable operations, our goal is to ensure military forces are operation-ready so they can perform optimally in the most demanding, high-stakes environments.”

    With over 40 years of experience, Calian delivers defence readiness solutions supporting national and international security. Leveraging our innovative technologies and expertise, Calian drives operational excellence through military training, healthcare, cybersecurity, communications and systems integration—helping military forces stay prepared and resilient in today’s rapidly evolving security and technology landscape.

    Learn more about how Calian delivers confidence for military customers, no matter their needs: https://www.calian.com/defence/. 

    About Calian

    www.calian.com

    We keep the world moving forward. Calian® helps people communicate, innovate, learn and lead safe and healthy lives. Every day, our employees live our values of customer commitment, integrity, innovation, respect and teamwork to engineer reliable solutions that solve complex challenges. That’s Confidence. Engineered. A stable and growing 40-year company, we are headquartered in Ottawa with offices and projects spanning North American, European and international markets. Visit calian.com to learn about innovative healthcare, communications, learning and cybersecurity solutions.

    Product or service names mentioned herein may be the trademarks of their respective owners.

    Media inquiries:

    media@calian.com

    613-599-8600

    Investor Relations inquiries:

    ir@calian.com

    DISCLAIMER

    Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as “intend”, “anticipate”, “believe”, “estimate”, “expect” or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company’s most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.

    Calian · Head Office · 770 Palladium Drive · Ottawa · Ontario · Canada · K2V 1C8
    Tel: 613.599.8600 · Fax: 613-592-3664 · General info email: info@calian.com

    The MIL Network –

  • MIL-OSI: AGF Management Limited – Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 06, 2025 (GLOBE NEWSWIRE) — AGF Management Limited (“AGF”) announced today that the Toronto Stock Exchange (“TSX”) has approved AGF’s notice of intention to renew its normal course issuer bid in respect of its Class B Non-Voting Shares (AGF.B).

    As at January 27, 2025, there were 65,291,5571 Class B Non-Voting Shares issued and outstanding and the public float consisted of 47,507,917 Class B Non-Voting Shares.

    Under the announced normal course issuer bid, AGF is permitted to purchase up to 4,750,792 Class B Non-Voting Shares, representing approximately 10% of the public float for such shares as of January 27, 2025. Purchases under the normal course issuer bid may commence on February 10, 2025 and continue until February 9, 2026, when the bid expires. Pursuant to the Articles of AGF, the Class B Non-Voting Shares may not be purchased by AGF at a price which exceeds more than 15% of the weighted average price at which the Class B Shares traded on the TSX during the ten trading days immediately preceding the date of any such purchase.

    AGF announced that it will be entering into an automatic purchase plan (the “Plan”) with a broker during the normal course issuer bid. The Plan is effective as of February 10, 2025 and should terminate together with the normal course issuer bid. The Plan allows for purchases by AGF of its Class B Non-Voting Shares, subject to certain parameters.

    Under the announced normal course issuer bid, purchases may be made through the facilities of TSX, alternative Canadian trading systems /other designated exchanges, or as otherwise permitted by the Canadian Securities Administrators or Ontario Securities Commission. The average daily trading volume (“ADTV”) of the Class B Non-Voting Shares (for the six-month period ended January 31, 2025) on the TSX was 93,109. Under the rules of the TSX, AGF is entitled to repurchase during the same trading day on the TSX up to 25% of the ADTV of its Class B Non-Voting Shares, being 23,277 except where reliance is placed on the TSX’s block purchase exemption.

    Class B Non-Voting Shares purchased under the NCIB will be canceled or purchased and held by the AGF Employee Benefit Trust for the settlement of equity settled incentive plans by AGF. The directors believe that the purchase for cancellation of Class B Non-Voting Shares represents a desirable use of capital when, if in the opinion of management, the value of the Class B Non-Voting shares is attractive relative to the trading price of said shares. Purchase for cancellation by AGF of outstanding Class B Non-Voting Shares may also be used to offset the dilutive effect of treasury stock released for the employee benefit trust and of shares issued through AGF’s stock option plans and dividend reinvestment plan.

    Under its existing normal course issuer bid, which expires on February 8, 2025, AGF sought and received approval from the TSX to purchase 4,735,269 Class B Non-Voting Shares. During the period from February 8, 2024 to February 5, 2025, AGF acquired 871,800 Class B Non-Voting Shares at a weighted average price of $8.12.

    About AGF Management Limited

    Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.

    AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

    Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With over $54 billion in total assets under management and fee-earning assets, AGF serves more than 815,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

    Media Contact

    Amanda Marchment
    Director, Corporate Communications
    416-865-4160
    amanda.marchment@agf.com

    1 Includes treasury stock in the amount of 96,458

    The MIL Network –

  • MIL-OSI: First National Corporation Reports Fourth Quarter and Annual 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    STRASBURG, Va., Feb. 06, 2025 (GLOBE NEWSWIRE) — First National Corporation (the “Company” or “First National”) (NASDAQ: FXNC), the bank holding company of First Bank (the “Bank”), reported an unaudited consolidated net loss of $933 thousand and basic and diluted loss per common share of $0.10 for the fourth quarter of 2024, and adjusted operating earnings(1) of $6.0 million and adjusted operating basic and diluted earnings(1) per common share of $0.66 for the fourth quarter of 2024.

    For the year ended December 31, 2024, the Company reported unaudited consolidated earnings of $7.0 million and basic and diluted earnings per common share of $1.00 and adjusted operating earnings(1) of $14.6 million and adjusted basic and diluted earnings per common share(1) of $2.10 for the year ended December 31, 2024.

    “2024 was a transformational year for First National as we consummated our largest acquisition to date and resulting partnership with Touchstone Bankshares. Our results for the quarter reflected solid operating metrics adjusting for merger costs, and is the first quarter to include the combined financial results of First National and Touchstone,” said Scott Harvard, President and Chief Executive Officer of First National. “I am proud of all the work from our teammates to get us to this point. We are completing system conversions in several weeks which will allow us to operate as one bank across our footprint. We believe the fourth quarter financial operating performance is indicative of the benefits of the acquisition and look forward to fully completing the integration of our two companies.”

    FOURTH QUARTER HIGHLIGHTS

    • Completed acquisition of Touchstone Bankshares, Inc. on October 1
    • Total assets of $2.0 billion with 33 branch offices
    • Net interest margin increased 40 basis points to 3.83%
    • Noninterest bearing deposits comprised 29% of total deposits
    • Efficiency ratio of 63.97%(1)

    Merger with Touchstone Bankshares, Inc. (“Touchstone”)

    On October 1, 2024, the Company completed its acquisition of Touchstone. Touchstone’s results of operations are included in the Company’s consolidated results since the date of acquisition, and, therefore, the Company’s fourth quarter and full year 2024 results reflect increased levels of average balances, net interest income, and expense compared to its prior quarter and full year 2023 results. After purchase accounting fair value adjustments, the acquisition added $664.3 million of total assets, including $479.3 million of loans held for investment (“LHFI”), and $614.6 million of total liabilities, including $555.4 million in total deposits. The Company recorded a preliminary bargain purchase gain of $2.9 million during the quarter associated with the acquisition.

    In connection with the acquisition, the Company recorded an allowance for credit losses on acquired loans that experienced a more than insignificant amount of credit deterioration since origination (“PCD” loans) of $385 thousand. In addition, the Company recorded a provision for credit losses of $3.8 million on non-PCD loans and $100 thousand provision on unfunded commitments for the fourth quarter of 2024.

    The Company incurred pre-tax merger costs of approximately $7.3 million during the fourth quarter of 2024 related to the Touchstone acquisition.

    NET INTEREST INCOME

    For the fourth quarter of 2024, net interest income was $18.4 million, an increase of $6.6 million from $11.7 million in the third quarter of 2024. The increases in net interest income was primarily the result of a $545.3 million increase in average interest earning assets, partially offset by a $415.0 million increase in average interest bearing liabilities, in each case primarily related to the acquisition of Touchstone. For the fourth quarter of 2024, the Company’s net interest margin increased 40 basis points to 3.83% primarily due to the impacts associated with the Touchstone acquisition. Earning asset yields for the fourth quarter of 2024 increased 22 basis points to 5.30% compared to the third quarter of 2024, and the cost of funds decreased by 21 basis points to 1.51%, due to changes in deposit mix following the acquisition of Touchstone and federal funds rate cuts in late 2024.

    The Company’s net interest margin (FTE)(1) for the fourth quarter of 2024 includes the impact of acquisition accounting fair value adjustments. Net accretion income related to acquisition accounting was $408 thousand, or a nine basis point incremental increase to the net interest margin for the fourth quarter ended December 31, 2024, and none for the comparative prior quarter and same quarter in 2023, respectively, due to the Touchstone acquisition. 

    NONINTEREST INCOME

    Noninterest income increased $3.4 million to $6.4 million for the fourth quarter of 2024 from $3.2 million in the prior quarter, primarily driven by $2.9 million of pre-tax bargain purchase gain and other increases in noninterest income associated with the full quarter impact of the Touchstone acquisition that closed on October 1, 2024.

    NONINTEREST EXPENSE

    Noninterest expense increased $11.5 million to $21.9 million for the fourth quarter of 2024 from $10.5 million in the prior quarter, primarily driven by a $7.3 million increase in pre-tax merger-related expenses, as well as other increases in noninterest expense due to the full quarter impact of the Touchstone acquisition. The full quarter impact of Touchstone and related merger expenses drove the majority of the $4.5 million increase in salaries and benefits, the $3.9 million increase in data processing, and the $351 thousand increase in occupancy expenses compared to the prior quarter. In addition, legal and professional services increased $618 thousand, primarily due to fees associated with the merger.

    Adjusted operating noninterest expense, which excludes merger-related costs ($219 thousand in the third quarter and $7.3 million in the fourth quarter) and amortization of intangible assets ($4 thousand in the third quarter and $448 thousand in the fourth quarter), increased $3.9 million to $14.2 million for the fourth quarter of 2024 from $10.2 million in the prior quarter, primarily due to the impact of the Touchstone acquisition.

    ASSET QUALITY

    Overview

    Loans past due greater than 30 days and still accruing interest as a percentage of total loans amounted to 0.24% on December 31, 2024, compared to 0.24% on September 30, 2024, and 0.31% on December 31, 2023. Of the total past due loans still accruing interest, $365 thousand were past due 90 days or more on December 31, 2024, compared to $0 on September 30, 2024, and $524 thousand on December 31, 2023. Management classifies non-performing assets (“NPAs”) as non-accrual loans and OREO. Nonperforming assets (“NPAs”) as a percentage of total assets decreased to 0.35% on December 31, 2024, compared to 0.41% on September 30, 2024, and 0.48% one year ago on December 31, 2023. The decrease in the NPA ratio was primarily due to the effects of the Touchstone acquisition, which added LHFI of $479.3 million acquired in the transaction. Net charge-offs totaled $1.3 million in the fourth quarter of 2024, compared to net charge-offs of $1.6 million in the third quarter of 2024, and net charge-offs of $2.7 million in the fourth quarter of 2023. The net charge-offs for the fourth quarter of 2024 included $883 thousand of commercial and industrial loans, with $774 thousand of that specific to our pool of loans originated to health care professionals through a third-party lender. The allowance for credit losses on loans totaled $16.4 million, or 1.12% of total loans on December 31, 2024, compared to $12.7 million, or 1.28% of total loans on September 30, 2024, and $12.0 million, or 1.24% of total loans on December 31, 2023.

    Nonperforming Assets

    NPAs increased to $7.1 million on December 31, 2024, compared to $6.0 million on September 30, 2024, and $6.8 million on December 31, 2023, which represented 0.35%, 0.41%, and 0.48% of total assets, respectively. The increase in NPAs during the fourth quarter of 2024 resulted from the acquisition of Touchstone’s portfolio, including $1 million of additional non-accrual loans.

    Past Due Loans

    Loans past due 30-89 days and still accruing interest increased to $3.1 million, or 0.21% of total loans on December 31, 2024, compared to $2.4 million, or 0.24% of total loans on September 30, 2024, and $2.5 million, or 0.26%, of total loans on December 31, 2023. Loans past due over 90 days or more and still accruing interest on December 31, 2024, increased to $365 thousand, compared to $0 on September 30, 2024, and $524 thousand on December 31, 2023.

    Allowance for Credit Losses on Loans

    For the fourth quarter of 2024, the Company recorded a provision for credit losses of $4.8 million, compared to a provision for credit losses of $1.7 million in the prior quarter, and a provision for credit losses of $6.0 million in the fourth quarter of 2023. Included in the provision for credit losses for the fourth quarter of 2024 was a $3.8 million initial provision expense on non-PCD loans and $100 thousand on unfunded commitments, each acquired from Touchstone. As compared to the prior quarter, the decrease in provision for credit losses, outside of the initial provision expense recorded on non-PCD loans and unfunded commitments acquired from Touchstone, primarily reflects the impact of lower net charge-offs in the fourth quarter of 2024 and lower outstanding legacy loan balances. As compared to the same period in the prior year, the decrease in provision for credit losses, outside of the initial provision expense recorded on non-PCD loans and unfunded commitments acquired from Touchstone, is primarily due to higher reserves booked during the fourth quarter of 2023 due to qualitative factor adjustments related to the commercial and industrial loan pool, as well as specific reserves from identified individually evaluated loans.

    BALANCE SHEET

    At December 31, 2024, the Company’s consolidated balance sheet includes the impact of the Touchstone acquisition, which closed October 1, 2024, as discussed above. ASC 805, Business Combinations, allows for a measurement period of 12 months beyond the acquisition date to finalize the fair value measurements of the acquired Company’s net assets as additional information not existing as of the acquisition date becomes available. Any future measurement period adjustments will be recorded through an adjustment to the bargain purchase gain upon identification. Below is a summary of the related impact of the acquisition on the Company’s consolidated balance sheet as of the acquisition date.

    • The fair value of assets acquired totaled $664.3 million and included total loans of $479.3 million with an initial loan discount of $13.5 million.
    • The fair value of the liabilities assumed totaled $614.6 million and included total deposits of $555.4 million with an initial deposit mark related to time deposits of $1.1 million.
    • Core deposit intangibles and other intangibles acquired totaled $15.6 million.
    • No goodwill was recorded in the transaction, and the preliminary bargain purchase gain (included in other income) totaled $2.9 million.

    At December 31, 2024, total assets were $2.0 billion, an increase of $559.6 million or 38.6% from September 30, 2024 and $591.0 million or approximately 41.6% from December 31, 2023. The increases in total assets from the prior quarter and prior year were primarily driven by growth in loans held for investment (LHFI) (net of deferred fees and costs) and the securities portfolio, primarily due to the Touchstone acquisition.

    At December 31, 2024, LHFI net of allowance totaled $1.5 billion, an increase of $468.6 million from $982.0 million at September 30, 2024, and an increase of $493.1 million or 51.5% from December 31, 2023. LHFI increased from the prior quarter and prior year primarily due to the Touchstone acquisition, as well as organic loan growth compared to prior year.

    At December 31, 2024, total investments were $277.3 million, an increase of $7.8 million from September 30, 2024, and a decrease of $25.9 million or 8.5% from December 31, 2023. Available for sale (AFS) securities totaled $163.8 million at December 31, 2024 and $146.0 million at September 30, 2024 and $152.9 million at December 31, 2023. The increases compared to the prior quarter and prior year were primarily due to the acquisition of Touchstone. Total net unrealized losses on the AFS securities portfolio were $22.1 million at December 31, 2024, compared to $17.2 million at September 30, 2024, and $20.6 million at December 31, 2023. Held to maturity securities are carried at cost and totaled $109.7 million at December 31, 2024, $121.4 million at September 30, 2024, and $148.2 million at December 31, 2023.

    At December 31, 2024, total deposits were $1.80 billion, an increase of $550.5 million from the prior quarter, and an increase of $570.1 million or 46.2% from December 31, 2023. The increases in deposit balances from the prior quarter and prior year are primarily due to increases in interest bearing customer deposits and demand deposits, primarily related to the addition of the Touchstone acquired deposits.

    Other borrowings decreased $50.0 million during the fourth quarter as the Bank repaid borrowed funds from the Federal Reserve Bank through their Bank Term Funding Program.

    Shareholders’ equity totaled $166.5 million on December 31, 2024, which was an increase of $41.4 million from September 30, 2024. The increase in total shareholders’ equity was primarily attributable to the issuance of 2.67 million shares associated with the Touchstone acquisition. The Company declared and paid cash dividends of $0.155 per common share during the fourth quarter of 2024, up from $0.15 paid during the first three quarterly periods of 2024.

    The following table provides capital ratios at the periods ended:

        Dec 31, 2024     Sept 30, 2024     Dec 31, 2023  
    Total capital ratio (2)     12.35 %     14.29 %     14.13 %
    Tier 1 capital ratio (2)     11.19 %     13.04 %     12.88 %
    Common equity Tier 1 capital ratio (2)     11.19 %     13.04 %     12.88 %
    Leverage ratio (2)     7.95 %     9.23 %     9.17 %
    Common equity to total assets (3)     8.29 %     8.62 %     8.23 %
    Tangible common equity to tangible assets (1) (3)     7.46 %     8.43 %     8.03 %
       
    (1) These are financial measures not calculated in accordance with generally accepted accounting principles (“GAAP”). For a reconciliation of these non-GAAP financial measures, see the “Non-GAAP Reconciliation” sections of the Performance Summary tables included in this release.
       
    (2) All ratios at December 31, 2024 are estimates and subject to change pending the Company’s filing of its FR Y9-C. All other periods are presented as filed.
       
    (3) Capital ratios presented are for First National Corporation.
       

    NON-GAAP FINANCIAL MEASURES

    In addition to financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), the Company uses certain non-GAAP financial measures that provide useful information for financial and operational decision making, evaluating trends, and comparing financial results to other financial institutions. The non-GAAP financial measures presented in this document include adjusted operating net income, adjusted basic and diluted earnings (loss) per share, adjusted return on average assets, adjusted return on average equity, pre-provision pre-tax earnings, adjusted pre-provision pre-tax earnings, fully taxable equivalent interest income, the net interest margin, the efficiency ratio, tangible book value per share, and tangible common equity to tangible assets.

    The Company believes certain non-GAAP financial measures enhance the understanding of its business and performance. Non-GAAP financial measures are supplemental and not a substitute for, or more important than, financial measures prepared in accordance with GAAP and may not be comparable to those reported by other financial institutions. A reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measure is included at the end of this release.

    ABOUT FIRST NATIONAL CORPORATION

    First National Corporation (NASDAQ: FXNC) is the parent company and bank holding company of First Bank, a community bank that first opened for business in 1907 in Strasburg, Virginia. The Bank offers loan and deposit products and services through its website, www.fbvirginia.com, its mobile banking platform, a network of ATMs located throughout its market area, a loan production office, a customer service center in a retirement community, and thirty-three bank branch office locations located throughout the Shenandoah Valley, the south-central regions of Virginia, the Roanoke Valley, the Richmond MSA, and in northern North Carolina. In addition to providing traditional banking services, the Bank operates a wealth management division under the name First Bank Wealth Management. First Bank also owns First Bank Financial Services, Inc., which owns an interest in an entity that provides title insurance services.

    FORWARD-LOOKING STATEMENTS

    Certain information contained in this discussion may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to the Company’s plans, objectives, expectations and intentions and other statements that are not historical facts, and other statements identified by words such as “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” and “projects,” as well as similar expression. Although the Company believes that its expectations with respect to the forward-looking statements are based upon reliable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results, performance, or achievements will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties. For details on factors that could affect expectations, future events, or results, see the risk factors and other cautionary language included in First National’s Annual Report on Form 10-K for the year ended December 31, 2023, and most recent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission (the “SEC”).

    Additional risks and uncertainties may include, but are not limited to: (1) the risk that the cost savings and any revenue synergies from the Touchstone merger may not be realized or take longer than anticipated to be realized, including due to the state of the economy or other competitive factors in the areas in which the parties operate, (2) disruption from the merger of customer, supplier, employee or other business partner relationships, including diversion of management’s attention from ongoing business operations and opportunities due to the merger, (3) the possibility that the costs, fees, expenses and charges related to the merger may be greater than anticipated, (4) reputational risk and the reaction of each of the parties’ customers, suppliers, employees or other business partners to the merger, (5) the risks relating to the integration of Touchstone’s operations into the operations of First National, including the risk that such integration will be materially delayed or will be more costly or difficult than expected, (6) the risk of expansion into new geographic or product markets, (7) the dilution caused by First National’s issuance of additional shares of its common stock in the merger, and (8) general competitive, economic, political and market conditions. All subsequent written and oral forward-looking statements concerning First National or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. First National does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made.

    CONTACTS

    Scott C. Harvard   Bruce E. Thomas
    President and CEO   Senior Vice President and Interim CFO
    (540) 465-9121   (540) 465-9121
    sharvard@fbvirginia.com   bthomas@fbvirginia.com
         

    FIRST NATIONAL CORPORATION
    Performance Summary
    (in thousands, except share and per share data)

    (unaudited)                                        
        For the Three Months Ended     For the Year Ended  
        Dec 31, 2024     Sept 30, 2024     Dec 31, 2023     Dec 31, 2024     Dec 31, 2023  
    Income Statement                                        
    Interest and dividend income                                        
    Interest and fees on loans   $ 21,516     $ 14,479     $ 13,255     $ 63,483     $ 49,293  
    Interest on deposits in banks     2,085       1,538       368       6,490       1,809  
    Interest on federal funds sold     189       —       —       189       —  
    Interest on securities                                        
    Taxable interest on securities     1,284       1,091       1,318       4,733       5,286  
    Tax-exempt interest on securities     308       303       303       1,222       1,220  
    Dividends     104       33       30       202       111  
    Total interest and dividend income   $ 25,486     $ 17,444     $ 15,274     $ 76,319     $ 57,719  
    Interest expense                                        
    Interest on deposits   $ 6,415     $ 4,958     $ 4,232     $ 20,964     $ 13,660  
    Interest on federal funds purchased     1       —       1       1       1  
    Interest on subordinated debt     396       69       70       603       277  
    Interest on junior subordinated debt     68       68       68       270       271  
    Interest on other borrowings     247       600       94       2,029       97  
    Total interest expense   $ 7,127     $ 5,695     $ 4,465     $ 23,867     $ 14,306  
    Net interest income   $ 18,359     $ 11,749     $ 10,809     $ 52,452     $ 43,413  
    Provision for credit losses     4,750       1,700       5,950       7,850       6,150  
    Net interest income after provision for credit losses   $ 13,609     $ 10,049     $ 4,859     $ 44,602     $ 37,263  
    Noninterest income                                        
    Service charges on deposit accounts   $ 1,181     $ 675     $ 718     $ 3,122     $ 2,780  
    ATM and check card fees     792       934       825       3,305       3,449  
    Wealth management fees     903       952       784       3,617       3,120  
    Fees for other customer services     317       276       232       966       770  
    Brokered mortgage fees     90       92       46       252       119  
    Income from bank owned life insurance     264       191       168       755       627  
    Net gains (losses) on securities available for sale     (154 )     39       —       (115 )     —  
    Gain on sale of other investment     —       —       186       —       186  
    Net gains on disposal of premises and equipment     —       —       —       —       47  
    Bargain purchase gain     2,920       —       —       2,920       —  
    Other operating income     131       44       110       1,558       686  
    Total noninterest income   $ 6,444     $ 3,203     $ 3,069     $ 16,380     $ 11,784  
    Noninterest expense                                        
    Salaries and employee benefits   $ 10,439     $ 5,927     $ 4,999     $ 28,076     $ 21,039  
    Occupancy     936       585       568       2,604       2,154  
    Equipment     1,123       726       621       3,131       2,377  
    Marketing     371       262       190       1,101       910  
    Supplies     264       123       153       618       576  
    Legal and professional fees     1,214       596       443       3,386       1,647  
    ATM and check card expense     385       394       313       1,508       1,578  
    FDIC assessment     285       195       154       860       633  
    Bank franchise tax     262       262       262       1,047       1,040  
    Data processing expense     4,142       290       327       4,841       1,047  
    Amortization expense     448       4       4       461       18  
    Other real estate owned expense (income), net     5       10       2       15       (199 )
    Net losses on disposal of premises and equipment     (4 )     2       —       47       —  
    Other operating expense     2,059       1,083       1,064       5,239       4,422  
    Total noninterest expense   $ 21,929     $ 10,459     $ 9,100     $ 52,934     $ 37,242  
    Income (loss) before income taxes   $ (1,876 )   $ 2,793     $ (1,172 )   $ 8,048     $ 11,805  
    Income tax expense (benefit)     (943 )     545       (321 )     1,082       2,181  
    Net income (loss)   $ (933 )   $ 2,248     $ (851 )   $ 6,966     $ 9,624  
                                             

    FIRST NATIONAL CORPORATION
    Performance Summary
    (in thousands, except share and per share data)

    (unaudited)                                        
        As of or For the Three Months Ended     As of or For the Year Ended  
        Dec 31, 2024     Sept 30, 2024     Dec 31, 2023     Dec 31, 2024     Dec 31, 2023  
    Common Share and Per Common Share Data                                        
    Earnings (loss) per common share, basic   $ (0.10 )   $ 0.36     $ (0.14 )   $ 1.00     $ 1.54  
    Adjusted earnings (loss) per common share, basic(1)   $ 0.66       0.39       (0.14 )   $ 2.10     $ 1.54  
    Weighted average shares, basic     8,971,649       6,287,997       6,261,500       6,955,592       6,265,394  
    Earnings (loss) per common share, diluted   $ (0.10 )   $ 0.36     $ (0.14 )   $ 1.00     $ 1.53  
    Adjusted earnings (loss) per common share, diluted(1)   $ 0.66       0.39       (0.14 )   $ 2.10     $ 1.53  
    Weighted average shares, diluted     8,994,315       6,303,282       6,282,815       6,971,089       6,279,106  
    Shares outstanding at period end     8,974,102       6,296,705       6,263,102       8,974,102       6,263,102  
    Tangible book value per share at period end (1)   $ 16.55     $ 19.37     $ 18.06     $ 16.55     $ 18.06  
    Cash dividends   $ 0.155     $ 0.150     $ 0.150     $ 0.605     $ 0.600  
                                             
    Key Performance Ratios                                        
    Return on average assets     (0.18 %)     0.62 %     (0.25 %)     0.44 %     0.71 %
    Adjusted return on average assets (1)     1.15 %     0.67 %     (0.25 %)     0.92 %     0.71 %
    Return on average equity     (2.35 %)     7.28 %     (2.97 %)     5.33 %     8.59 %
    Adjusted return on average equity (1)     15.01 %     7.93 %     (2.97 %)     11.19 %     8.59 %
    Net interest margin (1)     3.83 %     3.43 %     3.35 %     3.51 %     3.41 %
    Efficiency ratio (1)     63.97 %     68.13 %     66.26 %     66.73 %     67.69 %
                                             
    Average Balances                                        
    Average assets   $ 2,051,578     $ 1,449,185     $ 1,372,365     $ 1,597,150     $ 1,363,339  
    Average earning assets     1,919,864       1,374,566       1,290,231       1,504,946       1,280,980  
    Average shareholders’ equity     157,844       122,802       113,614       130,715       112,083  
                                             
    Asset Quality                                        
    Loan charge-offs   $ 1,432     $ 1,667     $ 2,765     $ 4,033     $ 3,993  
    Loan recoveries     98       95       92       283       418  
    Net charge-offs     1,334       1,572       2,673       3,750       3,575  
    Non-accrual loans     7,058       5,929       6,763       7,058       6,763  
    Other real estate owned, net     53       56       —       53       —  
    Nonperforming assets (3)     7,111       5,985       6,763       7,111       6,763  
    Loans 30 to 89 days past due, accruing     3,085       2,358       2,484       3,085       2,484  
    Loans over 90 days past due, accruing     365       —       524       365       524  
    Special mention loans     7,043       516       —       7,043       —  
    Substandard loans, accruing     2,030       1,713       287       2,030       287  
                                             
    Capital Ratios (2)                                        
    Total capital   $ 181,449     $ 148,477     $ 142,333     $ 181,449     $ 142,333  
    Tier 1 capital     164,454       135,490       129,840       164,454       129,840  
    Common equity Tier 1 capital     164,454       135,490       129,840       164,454       129,840  
    Total capital to risk-weighted assets     12.35 %     14.29 %     14.05 %     12.35 %     14.05 %
    Tier 1 capital to risk-weighted assets     11.19 %     13.04 %     12.82 %     11.19 %     12.82 %
    Common equity Tier 1 capital to risk-weighted assets     11.19 %     13.04 %     12.82 %     11.19 %     12.82 %
    Leverage ratio     7.95 %     9.23 %     9.31 %     7.95 %     9.31 %
                                             

    FIRST NATIONAL CORPORATION
    Performance Summary
    (in thousands, except share and per share data)

    (unaudited)                                        
        For the Period Ended  
        Dec 31, 2024     Sept 30, 2024     Jun 30, 2024     Mar 31, 2024     Dec 31, 2023  
    Balance Sheet                                        
    Cash and due from banks   $ 24,916     $ 18,197     $ 16,729     $ 14,476     $ 17,194  
    Interest-bearing deposits in banks     137,958       108,319       118,906       124,232       69,967  
    Cash and cash equivalents   $ 162,874     $ 126,516     $ 135,635     $ 138,708     $ 87,161  
    Securities available for sale, at fair value     163,847       146,013       144,816       147,675       152,857  
    Securities held to maturity, at amortized cost (net of allowance for credit losses)     109,741       121,425       123,497       125,825       148,244  
    Restricted securities, at cost     3,741       2,112       2,112       2,112       2,078  
    Loans, net of allowance for credit losses     1,450,604       982,016       977,423       960,371       957,456  
    Other real estate owned, net     53       56       —       —       —  
    Premises and equipment, net     34,824       22,960       22,205       21,993       22,142  
    Accrued interest receivable     6,020       4,794       4,916       4,978       4,655  
    Bank owned life insurance     37,873       24,992       24,802       24,652       24,902  
    Goodwill     3,030       3,030       3,030       3,030       3,030  
    Core deposit intangibles, net     14,986       104       108       113       117  
    Other assets     22,688       16,698       18,984       17,738       16,653  
    Total assets   $ 2,010,281     $ 1,450,716     $ 1,457,528     $ 1,447,195     $ 1,419,295  
                                             
    Noninterest-bearing demand deposits   $ 520,153     $ 383,400     $ 397,770     $ 384,092     $ 379,208  
    Savings and interest-bearing demand deposits     924,880       663,925       665,208       677,458       662,169  
    Time deposits     358,745       205,930       202,818       197,587       192,349  
    Total deposits   $ 1,803,778     $ 1,253,255     $ 1,265,796     $ 1,259,137     $ 1,233,726  
    Other borrowings     —       50,000       50,000       50,000       50,000  
    Subordinated debt, net     21,176       4,999       4,998       4,998       4,997  
    Junior subordinated debt     9,279       9,279       9,279       9,279       9,279  
    Accrued interest payable and other liabilities     9,517       8,068       7,564       5,965       5,022  
    Total liabilities   $ 1,843,750     $ 1,325,601     $ 1,337,637     $ 1,329,379     $ 1,303,024  
                                             
    Preferred stock   $ —     $ —     $ —     $ —     $ —  
    Common stock     11,218       7,871       7,851       7,847       7,829  
    Surplus     77,058       33,409       33,116       33,021       32,950  
    Retained earnings     96,947       99,270       97,966       96,465       94,198  
    Accumulated other comprehensive (loss), net     (18,692 )     (15,435 )     (19,042 )     (19,517 )     (18,706 )
    Total shareholders’ equity   $ 166,531     $ 125,115     $ 119,891     $ 117,816     $ 116,271  
    Total liabilities and shareholders’ equity   $ 2,010,281     $ 1,450,716     $ 1,457,528     $ 1,447,195     $ 1,419,295  
                                             
    Loan Data                                        
    Mortgage real estate loans:                                        
    Construction and land development   $ 84,480     $ 61,446     $ 60,919     $ 53,364     $ 52,680  
    Secured by farmland     14,133       9,099       8,911       9,079       9,154  
    Secured by 1-4 family residential     547,576       351,004       346,976       347,014       344,369  
    Other real estate loans     658,029       440,648       440,857       436,006       438,118  
    Loans to farmers (except those secured by real estate)     940       633       349       332       455  
    Commercial and industrial loans (except those secured by real estate)     140,393       114,190       115,951       113,230       112,619  
    Consumer installment loans     7,582       5,396       5,068       4,808       4,753  
    Deposit overdrafts     450       253       365       251       222  
    All other loans     13,421       12,051       10,580       8,890       7,060  
    Total loans   $ 1,467,004     $ 994,720     $ 989,976     $ 972,974     $ 969,430  
    Allowance for credit losses     (16,400 )     (12,704 )     (12,553 )     (12,603 )     (11,974 )
    Loans, net   $ 1,450,604     $ 982,016     $ 977,423     $ 960,371     $ 957,456  
                                             

    FIRST NATIONAL CORPORATION
    Non-GAAP Reconciliation
    (in thousands, except share and per share data)

    (unaudited)                              
      For the Three Months Ended   For the Year Ended  
      Dec 31, 2024   Sept 30, 2024   Dec 31, 2023   Dec 31, 2024   Dec 31, 2023  
    Operating Net Income                              
    Net income (GAAP) $ (933 ) $ 2,248   $ (851 ) $ 6,966   $ 9,624  
    Add: Merger-related expenses   7,316     219     —     8,107     —  
    Add: Day 2 Non-PCD Provision   3,931     —     —     3,931     —  
    Subtract: Bargain purchase gain   (2,920 )   —     —     (2,920 )   —  
    Subtract: Tax effect of adjustment (4)   (1,439 )   (19 )   —     (1,463 )   —  
    Adjusted operating net income (non-GAAP) $ 5,955   $ 2,448   $ (851 ) $ 14,621   $ 9,624  
                                   
    Adjusted Earnings Per Share, Basic                              
    Weighted average shares, basic   8,971,649     6,287,997     6,261,500     6,955,592     6,265,394  
    Basic earnings (loss) per share (GAAP) $ (0.10 ) $ 0.36   $ (0.14 ) $ 1.00   $ 1.54  
    Adjusted earnings (loss) per share, basic (non-GAAP) $ 0.66   $ 0.39   $ (0.14 ) $ 2.10   $ 1.54  
                                   
    Adjusted Earnings Per Share, Diluted                              
    Weighted average shares, diluted   8,994,315     6,303,282     6,282,815     6,971,089     6,279,106  
    Diluted earnings (loss) per share (GAAP) $ (0.10 ) $ 0.36   $ (0.14 ) $ 1.00   $ 1.53  
    Adjusted diluted earnings (loss) per share (non-GAAP) $ 0.66   $ 0.39   $ (0.14 ) $ 2.10   $ 1.53  
                                   
    Adjusted Pre-Provision, Pre-Tax Earnings                              
    Net interest income $ 18,359   $ 11,749   $ 10,809   $ 52,452   $ 43,413  
    Total noninterest income   6,444     3,203     3,069     16,380     11,784  
    Net revenue $ 24,803   $ 14,952   $ 13,878   $ 68,832   $ 55,197  
    Total noninterest expense   21,929     10,459     9,100     52,934     37,242  
    Pre-provision, pre-tax earnings $ 2,874   $ 4,493   $ 4,778   $ 15,898   $ 17,955  
    Add: Merger expenses   7,316     219     —     8,107     —  
    Add: Day 2 Non-PCD Provision   3,931     —     —     3,931     —  
    Subtract: Bargain purchase gain   (2,920 )   —     —     (2,920 )   —  
    Adjusted pre-provision, pre-tax, earnings $ 7,270   $ 4,712   $ 4,778   $ 21,085   $ 17,955  
                                   
    Adjusted Performance Ratios                              
    Average assets $ 2,051,578   $ 1,449,185   $ 1,372,365   $ 1,597,150   $ 1,363,339  
    Return on average assets (GAAP)   (0.18 %)   0.62 %   (0.25 %)   0.44 %   0.71 %
    Adjusted return on average assets (non-GAAP)   1.15 %   0.67 %   (0.25 %)   0.92 %   0.71 %
                                   
    Average shareholders’ equity $ 157,844   $ 122,802     113,614   $ 130,715   $ 112,083  
    Return on average equity (GAAP)   (2.35 %)   7.28 %   (2.97 %)   5.33 %   8.59 %
    Adjusted return on average equity (non-GAAP)   15.01 %   7.93 %   (2.97 %)   11.19 %   8.59 %
                                   
    Pre-provision, pre-tax return on average assets (non-GAAP)   0.56 %   1.24 %   1.39 %   1.00 %   1.32 %
    Adjusted pre-provision, pre-tax return on average assets (non-GAAP)   1.42 %   1.30 %   1.39 %   1.32 %   1.32 %
                                   
    Net Interest Margin                              
    Tax-equivalent net interest income $ 18,461   $ 11,842   $ 10,889   $ 52,821   $ 43,738  
    Average earning assets   1,919,864     1,374,566     1,290,231     1,504,946     1,280,980  
    Net interest margin (non-GAAP)   3.83 %   3.43 %   3.35 %   3.51 %   3.41 %
                                   

    FIRST NATIONAL CORPORATION
    Non-GAAP Reconciliation
    (in thousands, except share and per share data)
    (unaudited)              

    		  
      For the Three Months Ended   For the Year Ended  
      Dec 31, 2024   Sept 30, 2024   Dec 31, 2023   Dec 31, 2024   Dec 31, 2023  
    Efficiency Ratio                              
    Total noninterest expense (GAAP) $ 21,929   $ 10,459   $ 9,100   $ 52,934   $ 37,242  
    Add: other real estate owned income, net   (5 )   (10 )   (2 )   (15 )   199  
    Subtract: amortization of intangibles   (448 )   (4 )   (4 )   (461 )   (18 )
    Subtract: loss on disposal of premises and equipment, net   3     (2 )   —     (47 )   —  
    Subtract: merger expenses   (7,316 )   (219 )   —     (8,107 )   —  
    Adjusted non-interest expense (non-GAAP) $ 14,163   $ 10,224   $ 9,094   $ 44,304   $ 37,423  
    Tax-equivalent net interest income (non-GAAP) $ 18,461   $ 11,842   $ 10,889   $ 52,821   $ 43,738  
    Total noninterest income (GAAP)   6,444     3,203     3,069     16,380     11,784  
    (Gain) loss on disposal of premises and equipment   —     —     (47 )   —     (47 )
    Gain on sale of other investment   —     —     (186 )   —     (186 )
    Bargain purchase gain   (2,920 )   —     —     (2,920 )   —  
    Securities losses (gains), net   154     (39 )   —     115     —  
    Adjusted income for efficiency ratio (non-GAAP) $ 22,139   $ 15,006   $ 13,725   $ 66,396   $ 55,289  
                                   
    Efficiency ratio (non-GAAP)   63.97 %   68.13 %   66.26 %   66.73 %   67.69 %
                                   

    FIRST NATIONAL CORPORATION
    Non-GAAP Reconciliation
    (in thousands, except share and per share data)

    (unaudited)                                        
        For the Three Months Ended     For the Year Ended  
        Dec 31, 2024     Sept 30, 2024     Dec 31, 2023     Dec 31, 2024     Dec 31, 2023  
    Tax-Equivalent Net Interest Income                                        
    GAAP measures:                                        
    Interest income – loans   $ 21,516     $ 14,479     $ 13,255     $ 63,483     $ 49,293  
    Interest income – investments and other     3,970       2,965       2,019       12,836       8,426  
    Interest expense – deposits     (6,415 )     (4,958 )     (4,232 )     (20,964 )     (13,660 )
    Interest expense – federal funds purchased     (1 )     –       –       (1 )     –  
    Interest expense – subordinated debt     (396 )     (69 )     (70 )     (603 )     (277 )
    Interest expense – junior subordinated debt     (68 )     (68 )     (68 )     (270 )     (271 )
    Interest expense – other borrowings     (247 )     (600 )     (95 )     (2,029 )     (98 )
    Net interest income   $ 18,359     $ 11,749     $ 10,809     $ 52,452     $ 43,413  
    Non-GAAP measures:                                        
    Add: Tax benefit realized on non-taxable interest income – loans (4)   $ 18     $ 13     $ —     $ 43     $ —  
    Add: Tax benefit realized on non-taxable interest income – municipal securities (4)     84       80       80       326       325  
    Tax benefit realized on non-taxable interest income   $ 102     $ 93     $ 80     $ 369     $ 325  
    Tax-equivalent net interest income   $ 18,461     $ 11,842     $ 10,889     $ 52,821     $ 43,738  
                                             
                                             
    Tangible Common Equity and Tangible Assets                                        
    Total assets (GAAP)   $ 2,010,281     $ 1,450,716     $ 1,419,295     $ 2,010,281     $ 1,419,295  
    Subtract: goodwill     (3,030 )     (3,030 )     (3,030 )     (3,030 )     (3,030 )
    Subtract: core deposit intangibles, net     (14,986 )     (104 )     (117 )     (14,986 )     (117 )
    Tangible assets (Non-GAAP)   $ 1,992,265     $ 1,447,582     $ 1,416,148     $ 1,992,265     $ 1,416,148  
                                             
    Total shareholders’ equity (GAAP)   $ 166,531     $ 125,115     $ 116,271     $ 166,531     $ 116,271  
    Subtract: goodwill     (3,030 )     (3,030 )     (3,030 )     (3,030 )     (3,030 )
    Subtract: core deposit intangibles, net     (14,986 )     (104 )     (117 )     (14,986 )     (117 )
    Tangible common equity (Non-GAAP)   $ 148,515     $ 121,981     $ 113,124     $ 148,515     $ 113,124  
                                             
    Tangible common equity to tangible assets ratio     7.45 %     8.43 %     7.99 %     7.45 %     7.99 %
                                             
                                             
    Tangible Book Value Per Share                                        
    Tangible common equity (non-GAAP)   $ 148,515     $ 121,981     $ 113,124     $ 148,515     $ 113,124  
    Common shares outstanding, ending     8,974,102       6,296,705       6,263,102       8,974,102       6,263,102  
    Tangible book value per share   $ 16.48     $ 19.37     $ 18.06     $ 16.48     $ 18.06  
       
    (1) Non-GAAP financial measure.  See “Non-GAAP Financial Measures” and “Non-GAAP Reconciliations” for additional information and detailed calculations of adjustments.
       
    (2) Capital ratios are for First Bank.
       
    (3) Nonperforming assets are comprised of nonaccrual loans and other real estate owned.
       
    (4) The tax rate utilized in calculating the tax benefit is 21%. Certain merger-related expenses were non-deductible.

    The MIL Network –

  • MIL-OSI: Dragonfly Energy Appoints AdvisIRy Partners as its Investor Relations Firm

    Source: GlobeNewswire (MIL-OSI)

    RENO, Nev., Feb. 06, 2025 (GLOBE NEWSWIRE) — Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) (“Dragonfly Energy” or the “Company”), an industry leader in energy storage and battery technology, today announced it has appointed AdvisIRy Partners as its new investor relations firm.

    Chief Executive Officer, Dr. Denis Phares, stated, “Dragonfly Energy is an industry leader in providing innovative lithium-ion battery solutions across the RV, trucking, and industrial sectors. The Company is also working to revolutionize next generation battery cell manufacturing with our proprietary dry electrode technology. With Dragonfly Energy at a pivotal point in our evolution, we are pleased to partner with AdvisIRy Partners to help strengthen our investor relations program and communicate our vision and future prospects.”

    AdvisIRy Partners was established as the successor to one of the largest investor relations firms in the U.S., Morgen-Walke Associates. With many years of sell-side, buy-side, and investor relations experience, the firm is unique in its commitment to senior level account management. The team representing Dragonfly Energy will be led by Eric Prouty, Partner, who will be working with the Company’s executive leadership team on investor relations strategies, messaging and outreach.

    About Dragonfly Energy
    Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) is a comprehensive lithium battery technology company, specializing in cell manufacturing, battery pack assembly, and full system integration. Through its renowned Battle Born Batteries® brand, Dragonfly Energy has established itself as a frontrunner in the lithium battery industry, with hundreds of thousands of reliable battery packs deployed in the field through top-tier OEMs and a diverse retail customer base. At the forefront of domestic lithium battery cell production, Dragonfly Energy’s patented dry electrode manufacturing process can deliver chemistry-agnostic power solutions for a broad spectrum of applications, including energy storage systems, electric vehicles, and consumer electronics. The Company’s overarching mission is the future deployment of its proprietary, nonflammable, all-solid-state battery cells.

    To learn more about Dragonfly Energy and its commitment to clean energy advancements, visit www.investors.dragonflyenergy.com.

    About AdvisIRy Partners
    Headquartered in New York City, AdvisIRy Partners is an investor relations and corporate communications firm that was purpose-built to deliver tangible results for its corporate clients. The Firm brings together sell-side, buy-side and investor relations experience to provide senior level advisory work and implements customized programs for a growing roster of domestic and international clients. For further information on the firm’s approach, services and leadership team, please visit the AdvisIRy Partners website at www.advisiry.com.

    Contact:
    Eric Prouty
    Szymon Serowiecki
    DragonflyIR@advisiry.com

    The MIL Network –

  • MIL-OSI: CoreCard Corporation Schedules Fourth Quarter 2024 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    NORCROSS, Ga., Feb. 06, 2025 (GLOBE NEWSWIRE) — CoreCard Corporation (NYSE: CCRD), the leading provider of innovative credit technology solutions and processing services to the financial technology and services market, intends to hold an investor conference call on February 20, 2025, at 11:00 A.M. Eastern Time in conjunction with the company’s earnings release for the quarter ended December 31, 2024. The company plans to issue a press release with the financial results for the period before the market opens on February 20, 2025.

    Interested investors are invited to attend the conference call by accessing the webcast at https://www.webcast-eqs.com/register/corecard022025/en or by dialing 1-877-407-0890. As part of the conference call CoreCard will be conducting a question-and-answer session where participants are invited to email their questions to questions@corecard.com prior to the call. A transcript of the call will be posted on the company’s website at investors.corecard.com as soon as available after the call.

    About CoreCard Corporation

    CoreCard Corporation (NYSE: CCRD) provides the gold standard card issuing platform built for the future of global transactions in an embedded digital world. Dedicated to continual technological innovation in the ever-evolving payments industry backed by decades of deep expertise in credit card offerings, CoreCard helps customers conceptualize, implement, and manage all aspects of their issuing card programs. Keenly focused on steady, sustainable growth, CoreCard has earned the trust of some of the largest companies and financial institutions in the world, providing truly real-time transactions via their proven, reliable platform operating on private on-premise and leading cloud technology infrastructure.

    Forward-Looking Statements

    The forward-looking statements in this press release are made under the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The Company’s actual results could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties including those listed in Item 1A of the Company’s Annual Report on Form 10-K and in the Company’s other filings and reports with the Securities and Exchange Commission. All of the risks and uncertainties are beyond the ability of the Company to control, and in many cases, the Company cannot predict the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this press release, the words “believes,” “plans,” “expects,” “will,” “intends,” “continue,” “outlook,” “progressing,” and “anticipates” and similar expressions as they relate to the Company or its management are intended to identify forward-looking statements. Except as required by law, the Company is not obligated to publicly release any revisions to these forward-looking statements to reflect the events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

    Contact:   CoreCard Corporation
        Matthew A. White, Chief Financial Officer
        770-564-5504
        matt@corecard.com 

    The MIL Network –

  • MIL-OSI: Inter&Co Inc. Reports Highest Ever Net Income of R$973M in 2024

    Source: GlobeNewswire (MIL-OSI)

    BELO HORIZONTE, Brazil, Feb. 06, 2025 (GLOBE NEWSWIRE) — Inter&Co Inc. (NASDAQ: INTR | B3: INBR32), the leading financial super app providing financial and digital commerce services to over 36 million customers, today reported financial results for the fourth quarter of 2024.

    2024 Highlights:

    • Record Net Income of R$ 973 million in 2024, 3 times greater than 2023.
    • Total Net Revenue of R$ 6.4 billion, up 35% YoY, while Total Gross Revenues surpassed the mark of R$ 10 billion in 2024.
    • Net Interest Margin of 9.7% in 4Q24, up from 9.0% in the same period of 2023.
    • Net fee revenues of over R$ 2.0 billion, a 31% YoY growth, representing the strength of the platform effect.
    • Total clients grew to 36 million, with 20.6 million active clients and an activation rate of 57%.

    João Vitor Menin, Global CEO of Inter&Co commented:

    “Our story has been about innovation, delivering a superior financial super app with low-cost products, disrupting a traditional and inefficient industry. As a result, we have acquired over 36 million clients that are simplifying their financial lives by using our platform.”

    “In 2024, engagement continued to rise as we attracted a record 4.2 million active clients to our platform. This increased engagement fosters cross-selling among our seven verticals, generating a powerful network effect and enabling us to achieve remarkable results across all of them.”

    “As a result, we delivered a growing ROE of 11.7% in 2024 and finished the year with R$973 million in net income, greater than our entire historical profitability combined.”

    He added, “We entered 2025 with a strong balance sheet, one of the lowest costs of funding in the industry, a diversified credit portfolio, and asset quality metrics that continue to improve despite a more challenging scenario. I’m confident that our platform is exceptionally well positioned to continue succeeding in the years ahead.”

    Conference Call
    Inter&Co will discuss its 4Q2024 financial results on February 6th, 2024, at 11 a.m. ET (1 p.m. BRT). The webcast details, along with the earnings materials can be accessed on the company’s Investor Relations website at https://investors.inter.co/en/.

    About Inter&Co
    Inter&Co (NASDAQ: INTR) is the pioneer financial super app serving over 36 million consumers across the Americas. The Inter&Co ecosystem offers a broad array of services, including banking, investments, mortgages, credit, gift cards, and cross-border tools. The super app also boasts a dynamic marketplace, linking consumers with shopping discounts, cashback rewards, and exclusive access to marquee events across the globe. The company is expanding rapidly in the United States, as evidenced by its naming rights sponsorship of the Inter&Co Stadium that hosts soccer teams “Orlando City” and “Orlando Pride”. Focused on innovation and captivating member experiences, Inter&Co delivers comprehensive financial and lifestyle solutions to meet the evolving needs of modern consumers. For more information, visit: https://inter.co/en/us/.

    Investor Relations:
    Rafaela de Oliveira Vitória
    ir@inter.co

    Media Relations:
    Kaio Philipe
    kaio.philipe@inter.co

    Chemistry Agency
    interco@chemistryagency.com

    Disclaimer
    This report may contain forward-looking statements regarding Inter, anticipated synergies, growth plans, projected results and future strategies. While these forward-looking statements reflect our Management’s good faith beliefs, they involve known and unknown risks and uncertainties that could cause the company’s results or accrued results to differ materially from those anticipated and discussed herein. These statements are not guarantees of future performance. These risks and uncertainties include, but are not limited to, our ability to realize the number of projected synergies and the projected schedule, in addition to economic, competitive, governmental and technological factors affecting Inter, the markets, products and prices and other factors. In addition, this presentation contains managerial figures that may differ from those presented in our financial statements. The calculation methodology for these managerial numbers is presented in Inter’s quarterly earnings release. Statements contained in this report that are not facts or historical information may be forward looking statements under the terms of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may, among other things, beliefs related to the creation of value and any other statements regarding Inter. In some cases, terms such as “estimate”, “project”, “predict”, “plan”, “believe”, “can”, “expectation”, “anticipate”, “intend”, “aimed”, “potential”, “may”, “will/shall” and similar terms, or the negative of these expressions, may identify forward looking statements.

    These forward-looking statements are based on Inter’s expectations and beliefs about future events and involve risks and uncertainties that could cause actual results to differ materially from current ones. Any forward-looking statement made by us in this document is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether because of new information, future developments or otherwise. The definition of each such operational metric is included in the earnings release available on our Investor Relations website.

    For additional information that about factors that may lead to results that are different from our estimates, please refer to sections “Cautionary Statement Concerning Forward Looking Statements” and “Risk Factors” of Inter&Co Annual Report on Form 20-F. The numbers for our key metrics (Unit Economics), which include, among other, active clients and average revenue per active client (ARPAC), are calculated using Inter’s internal data. Although we believe these metrics are based on reasonable estimates, there are challenges inherent in measuring the use of our business. In addition, we continually seek to improve our estimates, which may change due to improvements or changes in methodology, in processes for calculating these metrics and, from time to time, we may discover inaccuracies and adjust to improve accuracy, including adjustments that may result in recalculating our historical metrics.

    About Non-IFRS Financial Measures
    To supplement the financial measures presented in this press release and related conference call, presentation, or webcast in accordance with IFRS, Inter&Co also presents non-IFRS measures of financial performance, as highlighted throughout the documents. The non-IFRS Financial Measures include, among others: Adjusted Net Income, Cost of Funding, Efficiency Ratio, Cost of Risk, Cards+PIX TPV, Gross ARPAC, Global Clients, Total Gross Revenues, and Return on average equity (ROE).

    A “non-IFRS financial measure” refers to a numerical measure of Inter&Co’s historical or financial position that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with IFRS in Inter&Co’s financial statements. Inter&Co provides certain non-IFRS measures as additional information relating to its operating results as a complement to results provided in accordance with IFRS. The non-IFRS financial information presented herein should be considered together with, and not as a substitute for or superior to, the financial information presented in accordance with IFRS. There are significant limitations associated with the use of non-IFRS financial measures. Further, these measures may differ from the non-IFRS information, even where similarly titled, used by other companies and therefore should not be used to compare Inter&Co’s performance to that of other companies.

    The MIL Network –

  • MIL-OSI: AMG Reports Financial and Operating Results for the Fourth Quarter and Full Year 2024

    Source: GlobeNewswire (MIL-OSI)

    Company reports EPS of $4.92, Economic EPS of $6.53 in the fourth quarter of 2024
    EPS of $15.13, Economic EPS of $21.36 for the full year 2024

    • New partnership with NorthBridge Partners, a private markets manager specializing in industrial logistics real estate assets
    • Net income (controlling interest) of $512 million, Economic Net Income (controlling interest) of $702 million
    • 10% full-year Economic Earnings per share growth reflects AMG’s ongoing strategic evolution and disciplined capital allocation strategy
    • Repurchased $700 million in common stock or approximately 13% of shares outstanding in 2024

    WEST PALM BEACH, Fla., Feb. 06, 2025 (GLOBE NEWSWIRE) — AMG, a strategic partner to leading independent investment management firms globally, today reported its financial and operating results for the fourth quarter and year ended December 31, 2024.

    Jay C. Horgen, President and Chief Executive Officer of AMG, said:
    “AMG delivered record Economic Earnings per share in 2024; growth of 10% relative to the prior year reflected the ongoing evolution of our business and the positive impact of our disciplined capital allocation strategy.

    “In 2024, we continued to strategically evolve our business, increasing our exposure to alternatives, which further enhances our long-term growth prospects. AMG’s private markets Affiliates raised approximately $24 billion during the year, reflecting the ongoing demand for our Affiliates’ specialized strategies. Throughout the year we continued to invest our capital and resources alongside our Affiliates to develop new products for the U.S. wealth marketplace, including additional innovative alternative solutions across private markets and liquid alternatives.

    “This morning, we announced our investment in NorthBridge Partners, a leading vertically integrated real estate manager with excellent forward prospects, given its deep expertise and targeted investment strategy in last-mile logistics, a high-growth sector benefiting from the expanding digital economy and evolving supply chain dynamics. Our partnership with NorthBridge broadens AMG’s participation in private markets and underscores our focus on investing in areas of secular growth. AMG’s proven ability to magnify the competitive advantages of partner-owned firms, while also preserving their independence, continues to differentiate AMG’s partnership model and is highly valued by prospective Affiliates.

    “Our execution across each element of our growth strategy, including investing in new Affiliate partnerships, investing in our existing Affiliates, and investing in AMG’s capabilities to magnify our Affiliates’ success, is driving the evolution of our distinctive business profile. Given AMG’s proven strategic capabilities and 30-year track record of successful partnerships, our opportunities to invest in growth are expanding. With our ample financial flexibility and disciplined capital allocation framework, we enter 2025 in an excellent position to continue executing on our strategy, and create meaningful incremental shareholder value over time.”

    FINANCIAL HIGHLIGHTS Three Months Ended   Years Ended
    (in millions, except as noted and per share data) 12/31/2023   12/31/2024   12/31/2023   12/31/2024
    Operating Performance Measures              
    AUM (at period end, in billions) $ 672.7     $ 707.9     $ 672.7     $ 707.9  
    Average AUM (in billions)   648.1       717.3       660.3       700.5  
    Net client cash flows (in billions)   (6.1 )     (8.3 )     (29.2 )     (13.9 )
    Aggregate fees   1,560.9       1,509.2       5,066.6       5,236.0  
    Financial Performance Measures              
    Net income (controlling interest) $ 196.2     $ 162.1     $ 672.9     $ 511.6  
    Earnings per share (diluted)(1)   5.15       4.92       17.42       15.13  
    Supplemental Performance Measures(2)              
    Adjusted EBITDA (controlling interest) $ 296.2     $ 281.7     $ 935.7     $ 973.1  
    Economic net income (controlling interest)   242.9       205.8       717.8       701.6  
    Economic earnings per share   6.86       6.53       19.48       21.36  
                                   

    For additional information on our Supplemental Performance Measures, including reconciliations to GAAP, see the Financial Tables and Notes.

    Capital Management
    During the fourth quarter of 2024, the Company repurchased approximately $120 million in common stock, bringing full-year share repurchases to approximately $700 million. The Company also announced a fourth-quarter cash dividend of $0.01 per share of common stock, payable March 4, 2025 to stockholders of record as of the close of business on February 18, 2025.

    About AMG
    AMG (NYSE: AMG) is a strategic partner to leading independent investment management firms globally. AMG’s strategy is to generate long‐term value by investing in high-quality independent partner-owned firms, through a proven partnership approach, and allocating resources across AMG’s unique opportunity set to the areas of highest growth and return. Through its distinctive approach, AMG magnifies its Affiliates’ existing advantages and actively supports their independence and ownership culture. As of December 31, 2024, AMG’s aggregate assets under management were approximately $708 billion across a diverse range of private markets, liquid alternative, and differentiated long-only investment strategies. For more information, please visit the Company’s website at www.amg.com.

             

    Conference Call, Replay and Presentation Information
    A conference call will be held with AMG’s management at 8:30 a.m. Eastern time today. Parties interested in listening to the conference call should dial 1-877-407-8291 (U.S. calls) or 1-201-689-8345 (non-U.S. calls) shortly before the call begins.

    The conference call will also be available for replay beginning approximately one hour after the conclusion of the call. To hear a replay of the call, please dial 1-877-660-6853 (U.S. calls) or 1-201-612-7415 (non-U.S. calls) and provide conference ID 13750674. The live call and replay of the session and a presentation highlighting the Company’s performance can also be accessed via AMG’s website at https://ir.amg.com/.

    Financial Tables Follow

    ASSETS UNDER MANAGEMENT – STATEMENTS OF CHANGES (in billions)
     
      Alternatives   Differentiated Long-Only  
    BY STRATEGY – QUARTER TO DATE Private Markets
    		   Liquid
    Alternatives
    		     Equities
    		   Multi-Asset &
    Fixed Income
    		   Total
    		  
    AUM, September 30, 2024 $ 131.2   $ 135.3     $ 345.9   $ 116.0   $ 728.4  
    Client cash inflows and commitments   5.6     8.9       10.2     5.2     29.9  
    Client cash outflows   (0.1 )   (7.3 )     (25.8 )   (5.0 )   (38.2 )
    Net client cash flows   5.5     1.6       (15.6 )   0.2     (8.3 )
    Market changes   (0.2 )   3.5       (2.5 )   0.4     1.2  
    Foreign exchange   (0.5 )   (3.1 )     (6.3 )   (1.3 )   (11.2 )
    Realizations and distributions (net)   (0.7 )   (0.2 )     (1.3 )   (0.1 )   (2.3 )
    Other   0.1     3.6       (4.0 )   0.4     0.1  
    AUM, December 31, 2024 $ 135.4   $ 140.7     $ 316.2   $ 115.6   $ 707.9  
      Alternatives   Differentiated Long-Only  
    BY STRATEGY – YEAR TO DATE Private Markets
    		   Liquid
    Alternatives
    		     Equities
    		   Multi-Asset &
    Fixed Income
    		   Total
    		  
    AUM, December 31, 2023 $ 114.8   $ 124.0     $ 329.4   $ 104.5   $ 672.7  
    Client cash inflows and commitments   23.7     27.5       38.1     22.1     111.4  
    Client cash outflows   (0.2 )   (25.6 )     (80.2 )   (19.3 )   (125.3 )
    Net client cash flows   23.5     1.9       (42.1 )   2.8     (13.9 )
    New investments   0.7     —       —     0.7     1.4  
    Market changes   0.4     10.6       41.4     8.7     61.1  
    Foreign exchange   (0.3 )   (0.8 )     (4.6 )   (1.2 )   (6.9 )
    Realizations and distributions (net)   (4.4 )   (0.5 )     (1.4 )   (0.3 )   (6.6 )
    Other   0.7     5.5       (6.5 )   0.4     0.1  
    AUM, December 31, 2024 $ 135.4   $ 140.7     $ 316.2   $ 115.6   $ 707.9  
     
    CONSOLIDATED STATEMENTS OF INCOME
     
        Three Months Ended
    (in millions, except per share data)   12/31/2023   12/31/2024
    Consolidated revenue   $ 502.7     $ 524.2  
             
    Consolidated expenses:        
    Compensation and related expenses     244.5       238.8  
    Selling, general and administrative     84.8       98.4  
    Intangible amortization and impairments     10.8       7.3  
    Interest expense     31.4       35.2  
    Depreciation and other amortization     3.0       4.0  
    Other expenses (net)     9.6       8.8  
    Total consolidated expenses     384.1       392.5  
             
    Equity method income (net)(3)     125.7       124.5  
    Affiliate Transaction gains(4)     —       —  
    Investment and other income     29.8       17.5  
    Income before income taxes     274.1       273.7  
             
    Income tax expense     29.8       52.6  
    Net income     244.3       221.1  
             
    Net income (non-controlling interests)     (48.1 )     (59.0 )
    Net income (controlling interest)   $ 196.2     $ 162.1  
             
    Average shares outstanding (basic)     33.7       30.1  
    Average shares outstanding (diluted)     41.3       36.0  
             
    Earnings per share (basic)   $ 5.83     $ 5.39  
    Earnings per share (diluted)(1)   $ 5.15     $ 4.92  
     
    RECONCILIATIONS OF SUPPLEMENTAL PERFORMANCE MEASURES(2)
     
        Three Months Ended
    (in millions, except per share data)   12/31/2023   12/31/2024
    Net income (controlling interest)   $ 196.2     $ 162.1  
    Intangible amortization and impairments     39.9       30.5  
    Intangible-related deferred taxes     12.8       15.3  
    Affiliate Transactions(4)     —       —  
    Other economic items     (6.0 )     (2.1 )
    Economic net income (controlling interest)   $ 242.9     $ 205.8  
             
    Average shares outstanding (adjusted diluted)     35.4       31.5  
    Economic earnings per share   $ 6.86     $ 6.53  
             
    Net income (controlling interest)   $ 196.2     $ 162.1  
    Interest expense     31.4       35.2  
    Income taxes     34.5       54.9  
    Intangible amortization and impairments     39.9       30.5  
    Affiliate Transactions(4)     —       —  
    Other items     (5.8 )     (1.0 )
    Adjusted EBITDA (controlling interest)   $ 296.2     $ 281.7  
     
    See Notes for additional information.
    CONSOLIDATED STATEMENTS OF INCOME
     
        Years Ended
    (in millions, except per share data)   12/31/2023   12/31/2024
    Consolidated revenue   $ 2,057.8     $ 2,040.9  
             
    Consolidated expenses:        
    Compensation and related expenses     907.5       915.3  
    Selling, general and administrative     358.2       376.5  
    Intangible amortization and impairments     48.3       29.0  
    Interest expense     123.8       133.3  
    Depreciation and other amortization     13.0       13.4  
    Other expenses (net)     45.8       40.3  
    Total consolidated expenses     1,496.6       1,507.8  
             
    Equity method income (net)(3)     280.0       312.7  
    Affiliate Transaction gains(4)     133.1       —  
    Investment and other income     117.1       77.4  
    Income before income taxes     1,091.4       923.2  
             
    Income tax expense     185.3       182.6  
    Net income     906.1       740.6  
             
    Net income (non-controlling interests)     (233.2 )     (229.0 )
    Net income (controlling interest)   $ 672.9     $ 511.6  
             
    Average shares outstanding (basic)     35.1       31.1  
    Average shares outstanding (diluted)     42.2       36.1  
             
    Earnings per share (basic)   $ 19.18     $ 16.45  
    Earnings per share (diluted)(1)   $ 17.42     $ 15.13  
     
    RECONCILIATIONS OF SUPPLEMENTAL PERFORMANCE MEASURES(2)
     
        Years Ended
    (in millions, except per share data)   12/31/2023   12/31/2024
    Net income (controlling interest)   $ 672.9     $ 511.6  
    Intangible amortization and impairments     128.5       149.2  
    Intangible-related deferred taxes     57.3       61.9  
    Affiliate Transactions(4)     (122.1 )     —  
    Other economic items     (18.8 )     (21.1 )
    Economic net income (controlling interest)   $ 717.8     $ 701.6  
             
    Average shares outstanding (adjusted diluted)     36.8       32.8  
    Economic earnings per share   $ 19.48     $ 21.36  
             
    Net income (controlling interest)   $ 672.9     $ 511.6  
    Interest expense     123.8       133.3  
    Income taxes     185.2       187.9  
    Intangible amortization and impairments     128.5       149.2  
    Affiliate Transactions(4)     (162.7 )     —  
    Other items     (12.0 )     (8.9 )
    Adjusted EBITDA (controlling interest)   $ 935.7     $ 973.1  
     
    See Notes for additional information.
    CONSOLIDATED BALANCE SHEETS
     
        Years Ended
    (in millions)   12/31/2023   12/31/2024
    Assets        
    Cash and cash equivalents   $ 813.6     $ 950.0  
    Receivables     368.4       409.7  
    Investments     941.9       595.6  
    Goodwill     2,523.6       2,504.9  
    Acquired client relationships (net)     1,812.4       1,777.8  
    Equity method investments in Affiliates (net)     2,288.5       2,246.6  
    Fixed assets (net)     67.3       57.6  
    Other assets     243.9       288.7  
    Total assets   $ 9,059.6     $ 8,830.9  
             
    Liabilities and Equity        
    Payables and accrued liabilities   $ 628.5     $ 639.1  
    Debt     2,537.5       2,620.2  
    Deferred tax liability (net)     463.8       520.5  
    Other liabilities     466.3       402.4  
    Total liabilities     4,096.1       4,182.2  
             
    Redeemable non-controlling interests     393.4       350.5  
    Equity:        
    Common stock     0.6       0.6  
    Additional paid-in capital     741.4       733.1  
    Accumulated other comprehensive loss     (167.6 )     (163.6 )
    Retained earnings     6,389.6       6,899.8  
          6,964.0       7,469.9  
    Less: treasury stock, at cost     (3,376.1 )     (4,124.6 )
    Total stockholders’ equity     3,587.9       3,345.3  
    Non-controlling interests     982.2       952.9  
    Total equity     4,570.1       4,298.2  
    Total liabilities and equity   $ 9,059.6     $ 8,830.9  
    Notes
       
    (1) Earnings per share (diluted) adjusts for the dilutive effect of the potential issuance of incremental shares of our common stock.
       
      We assume the settlement of all of our Redeemable non-controlling interests using the maximum number of shares permitted under our arrangements. The issuance of shares and the related income acquired are excluded from the calculation if an assumed purchase of Redeemable non-controlling interests would be anti-dilutive to diluted earnings per share.
       
      We are required to apply the if-converted method to our outstanding junior convertible securities when calculating Earnings per share (diluted). Under the if-converted method, shares that are issuable upon conversion are deemed outstanding, regardless of whether the securities are contractually convertible into our common stock at that time. For this calculation, the interest expense (net of tax) attributable to these dilutive securities is added back to Net income (controlling interest), reflecting the assumption that the securities have been converted. Issuable shares for these securities and related interest expense are excluded from the calculation if an assumed conversion would be anti-dilutive to diluted earnings per share.
       
      The following table provides a reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings per share:
          Three Months Ended   Years Ended
      (in millions)   12/31/2023   12/31/2024   12/31/2023   12/31/2024
      Numerator                
      Net income (controlling interest)   $ 196.2   $ 162.1   $ 672.9   $ 511.6
      Income from hypothetical settlement of Redeemable non-controlling interests, net of taxes     12.9     11.7     49.0     20.5
      Interest expense on junior convertible securities, net of taxes     3.4     3.4     13.4     13.4
      Net income (controlling interest), as adjusted   $ 212.5   $ 177.2   $ 735.3   $ 545.5
      Denominator                
      Average shares outstanding (basic)     33.7     30.1     35.1     31.1
      Effect of dilutive instruments:                
      Stock options and restricted stock units     1.7     1.4     1.7     1.7
      Hypothetical issuance of shares to settle Redeemable non-controlling interests     4.2     2.8     3.7     1.6
      Junior convertible securities     1.7     1.7     1.7     1.7
      Average shares outstanding (diluted)     41.3     36.0     42.2     36.1
    (2) As supplemental information, we provide non-GAAP performance measures of Adjusted EBITDA (controlling interest), Economic net income (controlling interest), and Economic earnings per share. We believe that many investors use our Adjusted EBITDA (controlling interest) when comparing our financial performance to other companies in the investment management industry. Management utilizes these non-GAAP performance measures to assess our performance before our share of certain non-cash GAAP expenses primarily related to the acquisition of interests in Affiliates and to improve comparability between periods. Economic net income (controlling interest) and Economic earnings per share are used by management and our Board of Directors as our principal performance benchmarks, including as one of the measures for determining executive compensation. These non-GAAP performance measures are provided in addition to, but not as a substitute for, Net income (controlling interest), Earnings per share, or other GAAP performance measures. For additional information on our non-GAAP measures, see our most recent Annual and Quarterly Reports on Form 10-K and 10-Q, respectively, which are accessible on the SEC’s website at www.sec.gov.
       
      Adjusted EBITDA (controlling interest) represents our performance before our share of interest expense, income and certain non-income based taxes, depreciation, amortization, impairments, gains and losses related to Affiliate Transactions, and non-cash items such as certain Affiliate equity activity, gains and losses on our contingent payment obligations, and unrealized gains and losses on seed capital, general partner commitments, and other strategic investments. Adjusted EBITDA (controlling interest) is also adjusted to include realized economic gains and losses related to these seed capital, general partner commitments, and other strategic investments.
       
      Under our Economic net income (controlling interest) definition, we adjust Net income (controlling interest) for our share of pre-tax intangible amortization and impairments related to intangible assets (including the portion attributable to equity method investments in Affiliates) because these expenses do not correspond to the changes in the value of these assets, which do not diminish predictably over time. We also adjust for deferred taxes attributable to intangible assets because we believe it is unlikely these accruals will be used to settle material tax obligations. Further, we adjust for gains and losses related to Affiliate Transactions, net of tax, and other economic items. Other economic items include certain Affiliate equity activity, gains and losses related to contingent payment obligations, tax windfalls and shortfalls from share-based compensation, unrealized gains and losses on seed capital, general partner commitments, and other strategic investments, and realized economic gains and losses related to these seed capital, general partner commitments, and other strategic investments.
       
      Economic earnings per share represents Economic net income (controlling interest) divided by the Average shares outstanding (adjusted diluted). In this calculation, we exclude the potential shares issued upon settlement of Redeemable non-controlling interests from Average shares outstanding (adjusted diluted) because we intend to settle those obligations without issuing shares, consistent with all prior Affiliate equity purchase transactions. The potential share issuance in connection with our junior convertible securities is measured using a “treasury stock” method. Under this method, only the net number of shares of common stock equal to the value of the junior convertible securities in excess of par, if any, are deemed to be outstanding. We believe the inclusion of net shares under a treasury stock method best reflects the benefit of the increase in available capital resources (which could be used to repurchase shares of our common stock) that occurs when these securities are converted and we are relieved of our debt obligation.
       
      The following table provides a reconciliation of Average shares outstanding (adjusted diluted):
          Three Months Ended   Years Ended
      (in millions)   12/31/2023     12/31/2024     12/31/2023     12/31/2024  
      Average shares outstanding (diluted)   41.3     36.0     42.2     36.1  
      Hypothetical issuance of shares to settle Redeemable non-controlling interests   (4.2 )   (2.8 )   (3.7 )   (1.6 )
      Junior convertible securities   (1.7 )   (1.7 )   (1.7 )   (1.7 )
      Average shares outstanding (adjusted diluted)   35.4     31.5     36.8     32.8  
    (3) The following table presents equity method earnings and equity method intangible amortization and impairments, which in aggregate form Equity method income (net):
       
          Three Months Ended   Years Ended
      (in millions)   12/31/2023   12/31/2024   12/31/2023   12/31/2024
      Equity method earnings   $ 158.3     $ 150.1     $ 375.6     $ 442.7  
      Equity method intangible amortization and impairments     (32.6 )     (25.6 )     (95.6 )     (130.0 )
      Equity method income (net)   $ 125.7     $ 124.5     $ 280.0     $ 312.7  
    (4) The following table presents the impact of the completion of our previously announced sales of our equity interests in Veritable, LP to a third party in the third quarter of 2023, and Baring Private Equity Asia to EQT AB (“EQT”), a public company listed on Nasdaq Stockholm (EQT ST), in the fourth quarter of 2022, pursuant to which we received ordinary shares of EQT:
     
          Three Months Ended   Years Ended
      (in millions)   12/31/2023   12/31/2024   12/31/2023   12/31/2024  
      Affiliate Transaction gain   $ —     $ —     $ 133.1     $ —  
      Investment and other income – Realized gains on EQT shares     —       —       29.6       —  
      Affiliate Transactions, pre-tax     —       —       162.7       —  
      Income taxes     —       —       (40.6 )     —  
      Affiliate Transactions, after-tax   $ —     $ —     $ 122.1     $ —  
     

    Forward-Looking Statements and Other Matters

    Certain matters discussed in this press release issued by Affiliated Managers Group, Inc. (“AMG” or the “Company”) may constitute forward-looking statements within the meaning of the federal securities laws. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, and other non-historical statements. You can identify these forward-looking statements by the use of words such as “outlook,” “guidance,” “believes,” “expects,” “potential,” “preliminary,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “projects,” “positioned,” “prospects,” “intends,” “plans,” “estimates,” “pending investments,” “anticipates,” or the negative version of these words or other comparable words. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including changes in the securities or financial markets or in general economic conditions, the availability of equity and debt financing, competition for acquisitions of interests in investment management firms, uncertainties relating to closing of pending investments or transactions and potential changes in the anticipated benefits thereof, the investment performance and growth rates of our Affiliates and their ability to effectively market their investment strategies, the mix of Affiliate contributions to our earnings, and other risks, uncertainties, and assumptions, including those described under the section entitled “Risk Factors” in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Such factors may be updated from time to time in our periodic filings with the SEC. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in our filings with the SEC. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments, or otherwise, except as required by applicable law.

    This release does not constitute an offer of any products, investment vehicles, or services of any AMG Affiliate.

    From time to time, AMG may use its website as a distribution channel of material Company information. AMG routinely posts financial and other important information regarding the Company in the Investor Relations section of its website at www.amg.com and encourages investors to consult that section regularly.

    Investor and Media Relations
    Patricia Figueroa
    +1 (617) 747-3300
    ir@amg.com
    pr@amg.com

    The MIL Network –

  • MIL-OSI: Descartes Showcases Global Trade Intelligence Technology Innovations

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, Feb. 06, 2025 (GLOBE NEWSWIRE) — Descartes Systems Group (Nasdaq:DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, is scheduled to showcase numerous technology innovations to its global trade intelligence software suite at Descartes’ Innovation Forum event, which takes place in Washington, DC from February 11-12, 2025. Innovations to Descartes’ solution suite help companies in diverse industries manage the cross-border trade of merchandise, commodities and services more securely and efficiently in the face of expanding compliance requirements, geopolitical volatility, and evolving tariffs and trade barriers.

    “The current environment of ever-changing and complex trade regulations is challenging to manage. Our solutions and trade data help simplify how our customers’ teams conduct business while helping them mitigate risk,” said Brian Hodgson, General Manager, Trade Intelligence at Descartes. “Our technology innovations are focused on helping companies build more agile, intelligent and resilient supply chain networks that allow them to keep pace with frequent and complex tariff and regulatory changes, secure better sources of supply, and acquire high quality competitive intelligence.”

    Descartes’ global trade intelligence innovation and enhancements include:

    • Artificial Intelligence (AI)-enabled screening and classification to scale compliance operations. AI-driven screening for restricted, sanctioned and denied parties quarantines low-quality false positives and identifies when additional due diligence is required. AI-driven import/export classification accelerates product lookup capabilities in combination with other features such as regulations cross-referencing and landed cost calculations. Both innovations help companies more efficiently access and manage high volume, repetitive tasks without overloading existing compliance resources or adding new staff.
    • AI-based agent to speed complex global trade intelligence queries. Converse in multiple languages with an AI-based agent to answer common questions; quickly identify historical trade patterns, emerging trends, or specific data needs (e.g., commodities, companies, products); and receive text- and/or graph-based responses. This helps users define searches more precisely, ensuring they extract the most relevant global trade data and that it’s presented effectively. It makes global trade data content more accessible and actionable, while minimizing the training time required to build proficiency in developing optimal queries.
    • Expanded global trade content offerings to simplify more wholistic risk assessments. Combining traditional Harmonized System (HS)-based trade data content with both optional experience-based content, such as previously classified products, and timely innovative-based content, such as legislation and/or regulations, provides companies with a broader content ecosystem to facilitate efficient and effective risk assessment associated with product, party or shipment compliance.
    • Enhanced analytics to generate insights and inform strategic, evidence-based decision making. Advanced Microsoft Power BI-based analytics aggregates data from screening applications and other sources (e.g., visitor management, license management, other operational systems) to provide a single reporting view. Companies no longer need to rely on complicated integrations between applications to access sophisticated analytics that provide useful insight into their compliance activities, particularly in large enterprises.
    • Expanded capabilities to manage increasing export controls and complexities around export license management. Expanded set of East Asian countries for compliance checks and license determinations, in addition to enhanced workflows and data sharing capabilities for very complex controlled goods businesses (e.g., aerospace and defense), which help companies better manage compliance with local laws, international agreements and security protocols.

    Learn more about Descartes’ Global Trade Intelligence solutions.

    Descartes’ Innovation Forum events offer a unique opportunity for Descartes customers and United by Design partners worldwide to connect with the Descartes team. These forums aim to share best practices in using Descartes’ technologies, explore ways to enhance operations with Descartes’ expanding solutions, and gather valuable feedback on product development. More information on the Global Trade Intelligence event is available here.

    About Descartes

    Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, security and sustainability of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, track and help improve the safety, performance and compliance of delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and Twitter.

    Global Media Contact
    Cara Strohack                                                                     
    Tel: 226-750-8050                                 
    cstrohack@descartes.com  

    Cautionary Statement Regarding Forward-Looking Statements

    This release contains forward-looking information within the meaning of applicable securities laws (“forward-looking statements”) that relate to Descartes’ global trade intelligence solution offerings and potential benefits derived therefrom; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the factors and assumptions discussed in the section entitled, “Certain Factors That May Affect Future Results” in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada including Descartes’ most recently filed management’s discussion and analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

    The MIL Network –

  • MIL-OSI: YieldMax™ Launches Its First 0DTE ETF YieldMax™ S&P 500 0DTE Covered Call Strategy ETF (SDTY)

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, MILWAUKEE and NEW YORK, Feb. 06, 2025 (GLOBE NEWSWIRE) — YieldMax™ announced the launch today of its first YieldMax™ 0DTE Covered Call Strategy ETF:

    YieldMax™ S&P 500 0DTE Covered Call Strategy ETF (Nasdaq: SDTY)

    SDTY Overview

    SDTY is an actively managed ETF that utilizes a synthetic covered call strategy designed to generate weekly income while also providing exposure to the price return of the S&P 500 (“the Index”). SDTY generates income primarily by utilizing zero days to expiry (“0DTE”) options on an Index and/or passively managed ETFs (“Index ETFs”) that tracks the Index’s performance.

    SDTY’s Option Strategy

    SDTY employs a synthetic covered call strategy by selling and purchasing call options on the Index or Index ETFs. Each business day, typically at market open, the Fund sells out-of-the-money (OTM) call options with zero days to expiration (“0DTE”), which expire the same day they are sold. OTM options have a strike price above the current Index value. SDTY’s synthetic covered call strategy is established by combining the call options sold to generate income with buying call options for exposure to the Index.

    SDTY’S Return Profile and Index Performance

    SDTY earns income by selling out-of-the-money 0DTE call options daily. The premiums from these options add to income but limit participation in Index gains. If the Index rises past the strike price, losses on sold options can offset gains. This strategy balances income generation with limited Index upside exposure while premiums can help mitigate losses if the Index declines.

    SDTY Distribution Schedule

    SDTY is the first member of the YieldMax™ ETF 0DTE family and like all YieldMax™ ETFs, SDTY aims to generate income to investors. With respect to distributions, SDTY aims to make distributions on a weekly basis and its first weekly distribution is expected to be announced on February 19, 2025.

    Why Invest in SDTY?

    • SDTY seeks to generate weekly income which is not dependent on the value of its Index (or ETFs that track the Index’s performance).
    • SDTY aims to participate in a portion of the Index gains which may be capped.

    Important Information

    Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about each Fund, visit our website at www.YieldMaxETFs.com. Read the prospectus or summary prospectus carefully before investing.

    There is no guarantee that any Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment in any such Fund.

    Tidal Financial Group is the adviser for all YieldMax™ ETFs.

    THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

    Risk Disclosures

    Investing involves risk. Principal loss is possible.

    Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other Index (or ETFs that track the Index’s performance)holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary Index (or ETFs that track the Index’s performance) securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Index (or ETFs that track the Index’s performance) Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high Index (or ETFs that track the Index’s performance) turnover rate increases transaction costs, which may increase the Fund’s expenses.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way.

    YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group or YieldMax™ ETFs.

    © 2025 YieldMax™ ETFs

    The MIL Network –

  • MIL-OSI: Bitmaster Revolutionizes Crypto Trading with AI and MCS Token Integration

    Source: GlobeNewswire (MIL-OSI)

    SEOUL, South Korea, Feb. 06, 2025 (GLOBE NEWSWIRE) — Bitmaster, an advanced cryptocurrency trading platform, is transforming digital asset trading through AI-driven automation and MCS token integration. By combining real-time analytics with automated trading strategies, Bitmaster provides a more efficient, secure, and accessible trading environment for both beginners and professional traders.

    Bitmaster leverages AI-based trading signals to analyze the market and execute automated trades, allowing users to seize real-time opportunities while minimizing risks. Additionally, MCS tokens offer benefits such as reduced transaction fees, automated trading functionality, staking rewards, and access to premium trading tools, enhancing the overall user experience.

    New users can enjoy a 3-day free premium membership trial and receive 10 MCS tokens, allowing them to explore the platform’s various features. Premium features include Signal Master and Auto Master, which enhance trading precision. Signal Master provides trading signals for Bitcoin futures, supporting users with accurate trading strategies. Auto Master, which is currently under development, will enable automated trading based on Signal Master’s insights. Additionally, within the app, users can participate in the Up & Down Prediction Game, where they predict Bitcoin futures price movements (UP or DOWN). Successful predictions reward users with 1.9 times the MCS amount wagered. The 10 MCS tokens received can also be sent to LBank for trading or converted to USDT for withdrawal.

    Bitmaster is focusing on enhancing liquidity, improving market accessibility, and strengthening its presence in the global cryptocurrency ecosystem. To achieve this, the company is expanding strategic partnerships and collaborating with leading global exchanges to provide diverse fiat on-ramp options and region-specific trading solutions. Additionally, Bitmaster is increasing accessibility by offering multi-language support and localized customer service to better serve its global user base. These initiatives ensure that users can trade in a seamless and secure environment through trusted exchange partnerships.

    Bitmaster operates various user-centric incentive programs to encourage active participation and trading. MCS airdrops provide additional benefits to both new and existing users, driving engagement within the platform. This encourages continuous trading activity, allowing users to earn more rewards within the Bitmaster ecosystem. Additionally, promotional campaigns offer extra benefits, ensuring long-term user retention. Incentives such as MCS airdrops, referral programs with up to 30% commission, and ICO bonuses of up to 40% play a crucial role in increasing user engagement and supporting the platform’s sustained growth.

    Bitmaster continues to set new standards in AI-driven innovation and blockchain technology, driving automation and data-driven trading. As the platform evolves, it aims to deliver an intuitive, efficient, and rewarding trading experience for global users, solidifying its leadership in the cryptocurrency trading industry.

    For more details: https://buly.kr/Ezi4D52

    Contact Information

    Company Name: Bitmaster
    Contact Person: Evelyn
    Contact Person Title: Contents Manager
    Email: mr.mcs@bitmaster.pro
    Phone Number: +82 1039824189
    Company Website: https://bitmaster.pro/

    Disclaimer: This press release is provided by Bitmaster. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. 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 as financial, investment, or trading advice. Investing in cloud mining and 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.

    Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/efe81893-9e0b-4e13-8c27-8d4e63bce156

    https://www.globenewswire.com/NewsRoom/AttachmentNg/3288772b-ccfb-4ab2-aff0-17d97f476168

    https://www.globenewswire.com/NewsRoom/AttachmentNg/5f212ffe-9120-4f2e-aa45-9eed813dcb99

    The MIL Network –

  • MIL-OSI: Nokia Bell Labs celebrates 100 years of pioneering innovations, shaping the past, present and future

    Source: GlobeNewswire (MIL-OSI)

    Press Release 

    Nokia Bell Labs celebrates 100 years of pioneering innovations, shaping the past, present and future

    • Over the last century, Nokia’s award-winning industrial research arm whose inventions of the transistor, solar cell and laser laid the groundwork for the digital age and paved a path to the internet.
    • Today, it continues to chart new paths in space communications, quantum, artificial intelligence, foundational technologies and sensing to address humanity’s most pressing challenges.

    6 February 2025
    Murray Hill, New Jersey – Nokia’s renowned industrial research arm behind the invention of the transistor, the solar cell, the laser and countless more, Nokia Bell Labs, is celebrating its centennial in 2025, marking 100 years of groundbreaking discoveries and innovations that blazed the trail for the digital age and pushed the boundaries of what’s possible.

    Nishant Batra, Chief Strategy and Technology Officer at Nokia, said: “The last century would be unrecognizable without Nokia Bell Labs. We established the foundations for modern communications, computing and the internet, setting the standard for the telecommunications industry, with a profound impact on people and communities worldwide. Our legacy is embedded in every bit within the billions of terabytes that flow through global networks each year and our dedicated researchers are tirelessly working on the groundbreaking innovations that will shape the future.”

    Over the past 100 years, Nokia Bell Labs researchers have made revolutionary discoveries in radio astronomy, semiconductors, Information Theory and cellular communications that have driven U.S. and global innovation and laid the groundwork for the digital age​. These breakthroughs and many others have resulted in 10 Nobel Prizes and five Turing Awards, as well as three Emmys, two Grammys and an Academy Award.

    Today, its legacy lives on in wavelengths, wires and bits as it charts new paths in space communications, quantum, artificial intelligence, foundational technologies and sensing that address humanity’s most pressing challenges. Nokia Bell Labs is setting world-record optical speeds to meet the insatiable global demand for high-speed communication, deploying cellular networks that will underpin sustained human presence on the Moon and beyond, and conducting industry-leading 6G research that will fuse the physical, digital and human worlds.

    Peter Vetter, President of Bell Labs Core Research at Nokia, said: “At Nokia Bell Labs, we don’t just follow trends, we create them. Our researchers focus on solving hard problems that have a real human need in order to come up with the next big thing. From pioneering concepts for 6G and world-firsts in fiber technology to innovations in sensing and understanding that fuses the physical, digital and human worlds, we are redefining how we perceive the world around us and augmenting our capabilities.”​

    Thierry E. Klein, President of Bell Labs Solutions Research at Nokia, said: “For the last 100 years, Nokia Bell Labs has been​ harnessing the extraordinary imaginations ​of our researchers​ to push the boundaries of what is possible and create transformative real-world solutions. In our next century, we are delivering the communication building blocks here on Earth as well as for a rapidly growing space economy that underpins sustained human presence on the Moon – and beyond.”

    Leveraging Nokia Bell Labs’ pioneering technology, Nokia helps propel society, industry and the environment toward a more sustainable future — expanding possibilities and redefining how we live, work and care for our planet.

    ​ 
    Nokia Bell Labs will be hosting celebrations and events at its locations around the world in 2025, follow the latest at https://www.nokia.com/bell-labs/100/.

    Resources and additional information
    Webpage: Nokia
    Webpage: 100 years of Bell Labs
    Blog: Nokia Bell Labs celebrates 100 years of innovation and looks ahead to another century of discovery
    Image Library: Nokia Bell Labs Centennial
    Video: Nokia Bell Labs Centennial

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

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

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

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

    Follow us on social media
    LinkedIn X Instagram Facebook YouTube

    Attachments

    The MIL Network –

  • MIL-OSI: Sylogist Declares Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Feb. 06, 2025 (GLOBE NEWSWIRE) — Sylogist Ltd. (TSX:SYZ) (“Sylogist” or the “Company”), a leading public sector SaaS company, is pleased to announce that its Board of Directors has declared a dividend of $0.01 per share on Sylogist’s common shares to shareholders of record on February 28th, 2025, payable on March 12th, 2025.

    All dividends paid by Sylogist to holders of common shares in the capital of the Company will be treated as eligible dividends pursuant to the Income Tax Act (Canada).

    About Sylogist
    Sylogist provides mission-critical SaaS solutions to over 2,000 public sector customers globally across the government, nonprofit, and education verticals. The Company’s stock is traded on the Toronto Stock Exchange under the symbol SYZ. Information about Sylogist, inclusive of full financial statements together with Management’s Discussion and Analysis, can be found at www.sylogist.com or at www.sedarplus.ca.

    For further information contact:

    Sujeet Kini, Chief Financial Officer
    Sylogist Ltd.

    (416) 491-8004
    ir@sylogist.com

    The MIL Network –

  • MIL-OSI: Manhattan Bridge Capital, Inc. Declares Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    GREAT NECK, N.Y., Feb. 06, 2025 (GLOBE NEWSWIRE) — Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) announced today that its board of directors has declared a quarterly dividend of $0.115 per share to be paid to all shareholders of record on April 8, 2025. The dividend will be paid on April 15, 2025.

    The MIL Network –

  • MIL-OSI: Talen Energy to Report Full Year and Fourth Quarter 2024 Financial Results on February 27, 2025

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Feb. 06, 2025 (GLOBE NEWSWIRE) — Talen Energy Corporation (“Talen”) (NASDAQ: TLN) plans to release its full year and fourth quarter 2024 financial results on Thursday, February 27, 2025, after market close. President and Chief Executive Officer Mac McFarland and Chief Financial Officer Terry Nutt will discuss the financial and operating results during an earnings call at 4:30 p.m. EST (3:30 p.m. CST) on February 27, 2025.

    To listen to the earnings call, please register in advance for the webcast here. For participants joining the call via phone, please register here prior to the start time to receive dial-in information. For those unable to participate in the live event, a digital replay of the earnings call will be archived for approximately one year and available on Talen’s Investor Relations website at https://ir.talenenergy.com/news-events/events.

    About Talen
    Talen Energy (NASDAQ: TLN) is a leading independent power producer and energy infrastructure company dedicated to powering the future. We own and operate approximately 10.7 gigawatts of power infrastructure in the United States, including 2.2 gigawatts of nuclear power and a significant dispatchable fossil fleet. We produce and sell electricity, capacity, and ancillary services into wholesale U.S. power markets, with our generation fleet principally located in the Mid-Atlantic and Montana. Our team is committed to generating power safely and reliably, delivering the most value per megawatt produced and driving the energy transition. Talen is also powering the digital infrastructure revolution. We are well-positioned to capture this significant growth opportunity, as data centers serving artificial intelligence increasingly demand more reliable, clean power. Talen is headquartered in Houston, Texas. For more information, visit https://www.talenenergy.com/.

    Investor Relations:
    Ellen Liu
    Senior Director, Investor Relations
    InvestorRelations@talenenergy.com

    Media:
    Taryne Williams
    Director, Corporate Communications
    Taryne.Williams@talenenergy.com

    Forward-Looking Statements
    This communication contains forward-looking statements within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this communication, or incorporated by reference into this communication, are forward-looking statements. Throughout this communication, we have attempted to identify forward-looking statements by using words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecasts,” “goal,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” or other forms of these words or similar words or expressions or the negative thereof, although not all forward-looking statements contain these terms. Forward-looking statements address future events and conditions concerning, among other things capital expenditures, earnings, litigation, regulatory matters, hedging, liquidity and capital resources and accounting matters. Forward-looking statements are subject to substantial risks and uncertainties that could cause our future business, financial condition, results of operations or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this communication. All of our forward-looking statements include assumptions underlying or relating to such statements that may cause actual results to differ materially from expectations, and are subject to numerous factors that present considerable risks and uncertainties.

    The MIL Network –

  • MIL-OSI: CareCloud Achieves Industry-Leading Security and Compliance Attestation, Uniquely Positioned to Grow Among Large Healthcare Enterprises

    Source: GlobeNewswire (MIL-OSI)

    SOC 2 Type 2 Attestation Positions CareCloud Among a Select Group of less than 10% of all EHR Vendors

    SOMERSET, N.J., Feb. 06, 2025 (GLOBE NEWSWIRE) — CareCloud, Inc. (the “Company”) (Nasdaq: CCLD, CCLDO, CCLDP), a leader in healthcare technology and AI-driven solutions, today announced that it has successfully completed a SOC 2 Type 2 examination for the second consecutive year, receiving a clean report with no exceptions. The examination scope of the Healthcare IT systems, performed by an independent CPA firm, covered security, availability, processing integrity, and confidentiality. This accomplishment underscores the Company’s commitment to the highest standards of data security, privacy, and regulatory compliance—critical for healthcare providers, especially larger enterprises such as health systems and hospital networks.

    “Our ability to achieve a clean SOC 2 Type 2 report for the second consecutive year is a testament to the strength of our security infrastructure and our commitment to protecting sensitive healthcare data,” said A. Hadi Chaudhry, Co-CEO of CareCloud. “As we continue to advance our AI-driven solutions and cloud-based platform, maintaining the highest level of security and compliance remains a top priority. This examination reinforces our dedication to delivering innovative technology that meets the stringent requirements of enterprise healthcare organizations.”

    Successfully completing the SOC 2 Type 2 examination affirms that the Company has maintained rigorous security controls and operational effectiveness across its cloud-based platform. This milestone aligns the Company for continued expansion into larger client bases, including health systems, multi-specialty group practices, and enterprise-level healthcare organizations that demand robust security and compliance frameworks.

    “We’re excited to be in a select group of an estimated 10% of all EHR vendors who have achieved this important attestation,” said Stephen Snyder, Co-CEO of CareCloud. “With this attestation, we are uniquely positioned for further expansion across larger healthcare enterprises who typically require a SOC 2 Type 2 attestation. As we continue to scale our offerings to meet the needs of larger and more complex organizations, completing this examination with a clean report distinguishes us among our competitors and demonstrates our ability to support enterprise clients with confidence and reliability.”

    As CareCloud expands its AI-driven solutions, revenue cycle management (RCM) services, and electronic health record (EHR) offerings to larger healthcare organizations, this attestation solidifies its ability to meet the evolving security and compliance needs of health systems and enterprise clients.

    About CareCloud

    CareCloud brings disciplined innovation to the business of healthcare. Our suite of AI and technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care, while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health at www.carecloud.com.

    To listen to video presentations by CareCloud’s management team, read recent press releases and view our latest investor presentation, please visit https://ir.carecloud.com.

    Follow CareCloud on LinkedIn, X and Facebook.

    Forward-Looking Statements

    This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “shall,” “should,” “could,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “forecasts,” “predicts,” “possible,” “potential,” “target,” or “continue” or the negative of these terms or other comparable terminology.

    Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of pandemics on our financial performance and business activities, and the expected results from the integration of our acquisitions.

    These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission.

    The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

    SOURCE CareCloud

    Company Contact:
    Norman Roth
    Interim Chief Financial Officer and Corporate Controller
    CareCloud, Inc.
    nroth@carecloud.com

    Investor Contact:
    Stephen Snyder
    Co-Chief Executive Officer
    CareCloud, Inc.
    ir@carecloud.com

    The MIL Network –

  • MIL-OSI: AMG Announces Partnership with NorthBridge Partners

    Source: GlobeNewswire (MIL-OSI)

    • AMG invests in NorthBridge, a private markets manager specializing in industrial logistics real estate assets
    • NorthBridge to leverage AMG’s strategic capabilities to enhance its long-term success and continue to build an enduring firm
    • Partnership broadens AMG’s exposure to secular growth areas

    WEST PALM BEACH, Fla., Feb. 06, 2025 (GLOBE NEWSWIRE) — AMG, a strategic partner to leading independent investment management firms globally, today announced that it acquired a minority equity interest in NorthBridge Partners, LLC (“NorthBridge”).

    NorthBridge is a leading vertically integrated real estate investment manager specializing in industrial logistics assets, a high-growth sector benefiting from the expanding digital economy and evolving supply chain dynamics. With approximately $2 billion in assets under management, the firm invests in last-mile logistics properties, acquiring, repositioning, and developing strategically located real estate assets in major markets. Led by partners Greg Lauze, Dean Atkins, and David Aisner, NorthBridge has deep sector expertise and a targeted investment strategy in a market segment with strong secular tailwinds, including robust e-commerce growth, accelerating consumer demand for shorter delivery times, and the onshoring of supply chains.

    “Our partnership with NorthBridge broadens AMG’s participation in private markets and underscores our focus on investing in areas of secular growth,” said Jay C. Horgen, President and Chief Executive Officer of AMG. “Given the growing demand for industrial logistics assets, and the entrepreneurialism of its principals, NorthBridge has excellent forward prospects, and AMG’s strategic partnership solutions can magnify the firm’s long-term success. I am delighted to welcome Greg, Dean, David, and their partners to our Affiliate group.”  

    “AMG’s unique partnership approach provides NorthBridge with access to strategic capabilities and growth capital to further our long-term objectives and maintain our independence,” said Mr. Lauze. “We are pleased to have found in AMG a partner that shares our commitment to entrepreneurial values and is aligned with us for the long term. We are confident that our partnership will enhance our competitive advantages, which will benefit both our clients and the Northbridge team.”

    “We are operating in a rapidly evolving sector, characterized by transformative trends that generate compelling investment opportunities,” added Mr. Atkins. “Our partnership with AMG will enable us to capitalize on these trends as we further invest in our operational capabilities, increasingly differentiating our firm, to enhance our long-term success.”

    The terms of the transaction were not disclosed. The management team of NorthBridge will continue to hold a significant majority of the equity and direct the firm’s day-to-day operations.

    About AMG

    AMG (NYSE: AMG) is a strategic partner to leading independent investment management firms globally. AMG’s strategy is to generate long-term value by investing in high-quality independent partner-owned firms, through a proven partnership approach, and allocating resources across AMG’s unique opportunity set to the areas of highest growth and return. Through its distinctive approach, AMG magnifies its Affiliates’ existing advantages and actively supports their independence and ownership culture. As of December 31, 2024, AMG’s aggregate assets under management were approximately $708 billion across a diverse range of private markets, liquid alternative, and differentiated long-only investment strategies. For more information, please visit the Company’s website at www.amg.com.

    About NorthBridge Partners

    NorthBridge Partners, LLC, founded in 2014, is a vertically integrated real estate investment manager specializing in last-mile logistics properties, acquiring, repositioning, and developing strategically located industrial real estate assets in major markets. NorthBridge has completed over 100 transactions totaling over 15 million square feet throughout its history and currently has approximately $2 billion in assets under management. For more information, please visit www.northbridgecre.com.

    Certain matters discussed in this press release issued by Affiliated Managers Group, Inc. (“AMG” or the “Company”) may constitute forward-looking statements within the meaning of the federal securities laws, and could be impacted by a number of factors, including those described under the section entitled “Risk Factors” in AMG’s most recent Annual Report on Form 10-K, as such factors may be updated from time to time in the Company’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. AMG undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. From time to time, AMG may use its website as a distribution channel of material Company information. AMG routinely posts financial and other important information regarding the Company in the Investor Relations section of its website at www.amg.com and encourages investors to consult that section regularly.

    AMG Media & Investor Relations:

    Patricia Figueroa
    (617) 747-3300
    ir@amg.com
    pr@amg.com 

    The MIL Network –

  • MIL-OSI: Atlys announces its expansion to the UK, spelling the end of visa woes for more than 36% of the population

    Source: GlobeNewswire (MIL-OSI)

    London, Feb. 06, 2025 (GLOBE NEWSWIRE) — For millions of travellers, planning a trip abroad means facing uncertainty and anxiety as they jump through hoops trying to satisfy complex visa requirements. In order to tackle this kind of travel inequality, Atlys has today announced its expansion into the UK market. The digital visa platform’s UK expansion follows a fresh $20 million funding round from marquee global investors. 

    As part of its UK expansion, Atlys has acquired Artionis, a UK-based visa services company, bringing aboard 40 specialists across offices in London, Manchester, and Edinburgh. It plans to double headcount to 80 employees in the UK this year. The acquisition strengthens Atlys’ expertise in specialised visa routes, that will cater to 36% of the UK population made up of non-UK passport holders as well as those who prefer a DIY approach to visa applications.

    Atlys founder and CEO: Mohak Nahta.

    “Expanding to the UK represents more than just market growth – it’s about creating a more equitable travel ecosystem,” said Mohak Nahta, Founder and CEO of Atlys. “Our platform is designed to make international travel accessible to everyone, regardless of their passport strength, and the UK’s strategic position will help us extend this impact across Europe.”

    The Atlys digital visa application experience.

    Since its inception in 2021, Atlys has processed over two million visas for people, transforming a traditionally complex process through intelligent automation. The platform’s unique predictive engine provides exact visa approval timelines and backs this certainty with refund guarantees for rejected or delayed applications. Users can complete applications in under five minutes and upload documents once to become visa-ready for more than 100 countries, eliminating redundant paperwork. Within six months of its launch, Atlys rapidly became the largest visa processor in India – capturing a lion’s share of the market. Building on that momentum, Atlys launched its services in the UAE last year and has quickly established a strong foothold in the country where 90%  of the population is made up of expatriates, creating a pressing demand for a streamlined visa solution.

    Atlys offers transparency on your visa application process.

    Atlys’s impact can be seen in the stories of users like George, who booked a flight to Dubai to visit his ailing mother and only realized at the airport that his UAE visa had expired. With Atlys’s assistance, he secured a new visa in just 30 minutes – just in time to board his plane. Another case highlighting Atlys’s effectiveness is Muhammad, a businessman from Hyderabad who initially had his European visa application denied. Atlys guided him through the process, recommended the most suitable embassy, and helped craft a strong application that showcased his ties to India, ultimately leading to an approval.

    The platform’s origin story reflects its mission. The idea for Atlys was born when Mohak Nahta, while working at Pinterest, faced a stark contrast in travel preparation compared to his American colleagues. As the only Indian team member planning a five-country work trip, Nahta had to secure multiple visas, each requiring him to submit the same documents over and over again. This frustration led him to envision a platform where travellers could upload documents once and instantly become visa-ready for multiple countries. What started as a side project quickly gained traction among friends, with word-of-mouth driving rapid adoption. 

    The founder’s belief in the solution led to unconventional growth tactics. He began visiting San Francisco’s international airport wearing a T-shirt emblazoned with the words “Got Questions on Turkey e-Visa?”, helping confused travellers navigate recent rule changes – until security eventually banned him from the premises. This grassroots approach and clear market need convinced Nahta to leave Pinterest and pursue Atlys full-time.

    “Since our initial investment, Atlys has demonstrated exceptional growth, processing over two million visas while maintaining strong user satisfaction,” said Shraeyansh Thakur, Principal at Peak XV. “Their data-driven approach and focus on user experience set them apart. The UK expansion represents a significant step toward becoming the definitive platform for global travel enablement.”

    The expansion comes as the global travel sector shows considerable growth, with the World Travel & Tourism Council valuing the market at nearly $9 trillion in 2023 and projecting over 1.8 billion international arrivals by decade’s end. Beyond visas, Atlys is evolving into a comprehensive travel companion having added eSIMs, Forex, and travel insurance to their offering, with plans to expand into curated experiences.

    Looking ahead, Atlys will leverage its new funding to drive product innovation and broader expansion, empowering even more  global travellers to explore the world with confidence – regardless of their passport strength.

    Ends

    Media images can be found here. 

    About Atlys
    Founded in 2021 by Mohak Nahta, Atlys simplifies visa processing and global travel. Through its intuitive platform, even first-time travellers can confidently navigate visa applications. Driven by the mission to enable every person to travel freely, Atlys is paving the way for a world where borders are no longer a barrier to exploration.

    The MIL Network –

  • MIL-OSI: eQ Plc Managers’ Transactions – Jacob af Forselles

    Source: GlobeNewswire (MIL-OSI)

    eQ Plc Managers’ Transactions
    6 February 2025 at 1:00 p.m.

    Person subject to the notification requirement
    Name: Magnus af Forselles
    Position: Other senior manager

    Issuer: eQ Oyj
    LEI: 743700R4FA6AVH5J3D68
    Notification type: INITIAL NOTIFICATION
    Reference number: 94994/4/4
    ____________________________________________
    Transaction date: 2025-02-03
    Outside a trading venue
    Instrument type: FINANCIAL INSTRUMENT LINKED TO A SHARE OR A DEBT INSTRUMENT
    Name of the instrument: eQ Oyj Optio-oikeudet 2025
    Nature of transaction: ACCEPTANCE OF A STOCK OPTION

    Transaction details
    (1): Volume: 40000 Unit price: 0 EUR

    Aggregated transactions (1):
    Volume: 40000 Volume weighted average price: 0 EUR

    eQ Plc

    Additional information: Juha Surve, Group General Counsel, tel. +358 9 6817 8733

    Distribution: Nasdaq Helsinki, www.eQ.fi

    eQ Group is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the Group total approximately EUR 13.4 billion. Advium Corporate Finance, which is part of the Group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets.

    More information about the Group is available on our website at www.eQ.fi.

    The MIL Network –

  • MIL-OSI: eQ Plc Managers’ Transactions – Staffan Jåfs

    Source: GlobeNewswire (MIL-OSI)

    eQ Plc Managers’ Transactions
    6 February 2025 at 1:00 p.m.

    Person subject to the notification requirement
    Name: Staffan Jåfs
    Position: Other senior manager

    Issuer: eQ Oyj
    LEI: 743700R4FA6AVH5J3D68
    Notification type: INITIAL NOTIFICATION
    Reference number: 94979/5/4
    ____________________________________________
    Transaction date: 2025-02-04
    Outside a trading venue
    Instrument type: FINANCIAL INSTRUMENT LINKED TO A SHARE OR A DEBT INSTRUMENT
    Name of the instrument: eQ Oyj Optio-oikeudet 2025
    Nature of transaction: ACCEPTANCE OF A STOCK OPTION

    Transaction details
    (1): Volume: 70000 Unit price: 0 EUR

    Aggregated transactions (1):
    Volume: 70000 Volume weighted average price: 0 EUR

    eQ Plc

    Additional information: Juha Surve, Group General Counsel, tel. +358 9 6817 8733

    Distribution: Nasdaq Helsinki, www.eQ.fi

    eQ Group is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the Group total approximately EUR 13.4 billion. Advium Corporate Finance, which is part of the Group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets.

    More information about the Group is available on our website at www.eQ.fi.

    The MIL Network –

  • MIL-OSI: eQ Plc Managers’ Transactions – Juha Surve

    Source: GlobeNewswire (MIL-OSI)

    eQ Plc Managers’ Transactions
    6 February 2025 at 1:00 p.m.

    Person subject to the notification requirement
    Name: Juha Surve
    Position: Other senior manager

    Issuer: eQ Oyj
    LEI: 743700R4FA6AVH5J3D68
    Notification type: INITIAL NOTIFICATION
    Reference number: 95018/4/4
    ____________________________________________
    Transaction date: 2025-02-03
    Outside a trading venue
    Instrument type: FINANCIAL INSTRUMENT LINKED TO A SHARE OR A DEBT INSTRUMENT
    Name of the instrument: eQ Oyj Optio-oikeudet 2025
    Nature of transaction: ACCEPTANCE OF A STOCK OPTION

    Transaction details
    (1): Volume: 40000 Unit price: 0 EUR

    Aggregated transactions (1):
    Volume: 40000 Volume weighted average price: 0 EUR

    eQ Plc

    Additional information: Juha Surve, Group General Counsel, tel. +358 9 6817 8733

    Distribution: Nasdaq Helsinki, www.eQ.fi

    eQ Group is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the Group total approximately EUR 13.4 billion. Advium Corporate Finance, which is part of the Group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets.

    More information about the Group is available on our website at www.eQ.fi.

    The MIL Network –

  • MIL-OSI: eQ Plc Managers’ Transactions – Tero Estovirta

    Source: GlobeNewswire (MIL-OSI)

    eQ Plc Managers’ Transactions
    6 February 2025 at 1:00 p.m.

    Person subject to the notification requirement
    Name: Tero Estovirta
    Position: Other senior manager

    Issuer: eQ Oyj
    LEI: 743700R4FA6AVH5J3D68
    Notification type: INITIAL NOTIFICATION
    Reference number: 94828/4/4
    ____________________________________________
    Transaction date: 2025-02-03
    Outside a trading venue
    Instrument type: FINANCIAL INSTRUMENT LINKED TO A SHARE OR A DEBT INSTRUMENT
    Name of the instrument: eQ Oyj Optio-oikeudet 2025
    Nature of transaction: ACCEPTANCE OF A STOCK OPTION

    Transaction details
    (1): Volume: 70000 Unit price: 0 EUR

    Aggregated transactions (1):
    Volume: 70000 Volume weighted average price: 0 EUR

    eQ Plc

    Additional information: Juha Surve, Group General Counsel, tel. +358 9 6817 8733

    Distribution: Nasdaq Helsinki, www.eQ.fi

    eQ Group is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the Group total approximately EUR 13.4 billion. Advium Corporate Finance, which is part of the Group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets.

    More information about the Group is available on our website at www.eQ.fi.

    The MIL Network –

  • MIL-OSI: eQ Plc Managers’ Transactions – Antti Lyytikäinen

    Source: GlobeNewswire (MIL-OSI)

    eQ Plc Managers’ Transactions
    6 February 2025 at 1:00 p.m.

    Person subject to the notification requirement
    Name: Antti Lyytikäinen
    Position: Chief Financial Officer

    Issuer: eQ Oyj
    LEI: 743700R4FA6AVH5J3D68
    Notification type: INITIAL NOTIFICATION
    Reference number: 94961/4/4
    ____________________________________________
    Transaction date: 2025-02-03
    Outside a trading venue
    Instrument type: FINANCIAL INSTRUMENT LINKED TO A SHARE OR A DEBT INSTRUMENT
    Name of the instrument: eQ Oyj Optio-oikeudet 2025
    Nature of transaction: ACCEPTANCE OF A STOCK OPTION

    Transaction details
    (1): Volume: 70000 Unit price: 0 EUR

    Aggregated transactions (1):
    Volume: 70000 Volume weighted average price: 0 EUR

    eQ Plc

    Additional information: Juha Surve, Group General Counsel, tel. +358 9 6817 8733

    Distribution: Nasdaq Helsinki, www.eQ.fi

    eQ Group is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the Group total approximately EUR 13.4 billion. Advium Corporate Finance, which is part of the Group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets.

    More information about the Group is available on our website at www.eQ.fi.

    The MIL Network –

  • MIL-OSI: reAlpha Appoints Vijay Rathna as Chief Crypto Officer

    Source: GlobeNewswire (MIL-OSI)

    DUBLIN, Ohio, Feb. 06, 2025 (GLOBE NEWSWIRE) — reAlpha Tech Corp. (Nasdaq: AIRE) (“reAlpha” or the “Company”), a real estate technology company developing and commercializing artificial intelligence (“AI”) technologies, today announced the appointment of Vijay Rathna as the Company’s Chief Crypto Officer (“CCO”), effective as of February 20, 2025. In this role, Mr. Rathna will oversee all of reAlpha’s blockchain and cryptocurrency initiatives, including token strategy, blockchain integrations, and digital asset innovation, reporting directly to Giri Devanur, Chief Executive Officer of reAlpha.

    Mr. Rathna has significant leadership experience in information technology, AI, blockchain architecture, and cryptocurrency ecosystems. Prior to joining reAlpha, Mr. Rathna served as the Senior Vice President of Innovation and Development at Coretelligent (merged from Chateaux Software), where he led the ideation, design and development of digital transformation team to build AI, automation and blockchain solutions for its clients. Some of those engagements included a blockchain-based digital ticketing platform, a SEC-approved stable coin in money market fund for a fintech company, a blockchain product for a global insurance company and others. Mr. Rathna is also an Associate Professor at Columbia University teaching “Blockchain and AI.”

    Mr. Rathna’s appointment comes as reAlpha is exploring the integration of blockchain into its technologies, including the reAlpha platform. reAlpha plans to provide further updates and announcements regarding the integration of blockchain and digital assets technologies into its business model by the end of the first quarter of 2025.

    Giri Devanur, Chief Executive Officer of reAlpha, commented, “We are thrilled to welcome Vijay Rathna to reAlpha as our Chief Crypto Officer, making reAlpha one of the first Nasdaq-listed companies to create such a position. The creation of this role highlights our commitment to innovate with blockchain technologies and the usage of digital assets. We believe that Vijay’s expertise in blockchain architecture, his entrepreneurial mindset, and his ability to deliver innovative and compliant solutions make him an invaluable addition to our team.”

    Vijay Rathna added, “I am excited to join reAlpha and contribute to its mission of bringing real estate to the digital era by leveraging AI technologies. I look forward to advancing reAlpha’s blockchain initiatives and delivering impactful solutions for investors.”

    About reAlpha Tech Corp.
    reAlpha Tech Corp. (Nasdaq: AIRE) is a real estate technology company developing an end-to-end commission-free homebuying platform. Utilizing the power of AI and an acquisition-led growth strategy, reAlpha’s goal is to offer a more affordable, streamlined experience for those on the journey to homeownership. For more information, visit www.realpha.com.

    Forward-Looking Statements
    The information in this press release includes “forward-looking statements.” Forward-looking statements include, among other things, statements about the appointment of Mr. Rathna as CCO and the anticipated benefits thereof; reAlpha’s ability to develop blockchain solutions for the real estate industry; reAlpha’s ability to anticipate the future needs of the real estate markets; future trends in the real estate, technology and artificial intelligence industries, generally; and reAlpha’s future growth strategy and growth rate. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “could”, “might”, “plan”, “possible”, “project”, “strive”, “budget”, “forecast”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: reAlpha’s limited operating history and that reAlpha has not yet fully developed its AI-based technologies; reAlpha’s ability to commercialize its developing AI-based technologies; whether reAlpha’s technology and products will be accepted and adopted by its customers and intended users; reAlpha’s ability to integrate the business of its acquired companies into its existing business and the anticipated demand for such acquired companies’ services; reAlpha’s ability to develop blockchain solutions to the real estate industry; reAlpha’s ability to successfully integrate blockchain in its technologies, including the reAlpha platform; reAlpha’s ability to develop a digital token; reAlpha’s ability implement and execute its cryptocurrency investment policy; reAlpha’s ability to remain compliant with the changing landscape of regulations related to digital currencies and other technologies; reAlpha’s ability to successfully enter new geographic markets; reAlpha’s ability to obtain the necessary regulatory and legal approvals to expand into additional U.S. states and maintain, or obtain, brokerage licenses in such states; reAlpha’s ability to generate additional sales or revenue from having access to, or obtaining, additional U.S. states brokerage licenses; the inability to maintain and strengthen reAlpha’s brand and reputation; reAlpha’s ability to scale its operational capabilities to expand into additional geographic markets; the potential loss of key employees of its acquired companies, including, but not limited to, the broker providing services on behalf of US Realty, one of reAlpha’s subsidiaries; reAlpha’s inability to accurately forecast demand for short-term rentals, corporate relocation programs and AI-based real estate focused products; reAlpha’s ability to successfully compete in the corporate relocation market; the inability to execute business objectives and growth strategies successfully or sustain reAlpha’s growth; the inability of reAlpha’s customers to pay for reAlpha’s services; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in reAlpha’s U.S. Securities and Exchange Commission (“SEC”) filings. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha’s future results, level of activity, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements, and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements. For more information about the factors that could cause such differences, please refer to reAlpha’s filings with the SEC. Readers are cautioned not to put undue reliance on forward-looking statements, and reAlpha does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    Company Contact

    Investor Relations
    investorrelations@realpha.com

    Media Contact

    Alliance Advisors IR on behalf of reAlpha
    Fatema Bhabrawala
    fbhabrawala@allianceadvisors.com

    The MIL Network –

  • MIL-OSI: Nasdaq Grants Santech Holdings Limited Extension to File its Annual Report on Form 20-F

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, Feb. 06, 2025 (GLOBE NEWSWIRE) — Santech Holdings Limited (NASDAQ: STEC) (“Santech” or the “Company”) announced today that The Nasdaq Stock Market LLC (“Nasdaq”) has determined to grant Santech an exception to Listing Rule 5250(c)(1) of Nasdaq’s Listing Rules (the “Rules”), giving Santech an extension of the deadline to file its Annual Report on Form 20-F for the fiscal year ended June 30, 2024 (the “Filing”).

    As Santech announced in its press release dated November 25, 2024, Santech received a deficiency letter from Nasdaq stating that Santech is not in compliance with the Rules because it has not yet filed the Filing with the Securities and Exchange Commission (the “SEC”). Nasdaq indicated that Santech had 60 calendar days, or no later than January 21, 2025, to submit a plan to regain compliance (the “Plan”).

    Santech timely submitted a Plan to Nasdaq. Based on its further review, Nasdaq has determined to grant an exception to the filing deadline under the Rules to enable Santech to regain compliance with the Rules. Under the terms of the exception, Santech must file the Filing on or before May 14, 2025. In the event Santech does not satisfy the terms of the exception, Nasdaq will provide Santech with written notification that its securities will be delisted, at which time Santech may appeal Nasdaq’s determination to a Hearings Panel.

    Santech is working diligently to complete the Filing and aims to file the report as soon as practicable, on or before May 14, 2025.

    About Santech Holdings Limited

    Santech Holdings Limited (NASDAQ: STEC) is a consumer-focused technology company. The Company historically served a large number of high net-worth clients in China in financial services and health management, and accumulated a large customer base. The Company has exited or disposed of its historical businesses in financial services and is actively exploring innovative new opportunities in technology, including but not limited to new retail, social e-commerce and metaverse. For more information, please visit https://ir.santechholdings.com.

    Safe Harbor Statement

    This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “anticipate,” “estimate,” “forecast,” “plan,” “project,” “potential,” “continue,” “ongoing,” “expect,” “aim,” “believe,” “intend,” “may,” “should,” “will,” “is/are likely to,” “could” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    Investor Contact:

    Santech Holdings Limited
    Email: ir@santechholdings.com

    The MIL Network –

  • MIL-OSI: Bilibili Inc. to Report Fourth Quarter and Fiscal Year 2024 Unaudited Financial Results on Thursday, February 20, 2025

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, Feb. 06, 2025 (GLOBE NEWSWIRE) — Bilibili Inc. (“Bilibili” or the “Company”) (NASDAQ: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today announced that it will report its fourth quarter and fiscal year 2024 unaudited financial results on Thursday, February 20, 2025, before the open of U.S. markets.

    The Company’s management will host an earnings conference call at 7:00 AM U.S. Eastern Time on February 20, 2025 (8:00 PM Beijing/Hong Kong Time on February 20, 2025). Details for the conference call are as follows:

    All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers and a personal PIN, which will be used to join the conference call.

    Additionally, a live webcast of the conference call will be available on the Company’s investor relations website at http://ir.bilibili.com, and a replay of the webcast will be available following the session.

    About Bilibili Inc.

    Bilibili is an iconic brand and a leading video community with a mission to enrich the everyday lives of young generations in China. Bilibili offers a wide array of video-based content with All the Videos You Like as its value proposition. Bilibili builds its community around aspiring users, high-quality content, talented content creators and the strong emotional bonds among them. Bilibili pioneered the “bullet chatting” feature, a live comment function that has transformed our users’ viewing experience by displaying the thoughts and feelings of audience members viewing the same video. The Company has now become the welcoming home of diverse interests among young generations in China and the frontier for promoting Chinese culture across the world.

    For more information, please visit: http://ir.bilibili.com.

    For investor and media inquiries, please contact:

    In China:

    Bilibili Inc.
    Juliet Yang
    Tel: +86-21-2509-9255 Ext. 8523
    E-mail: ir@bilibili.com

    Piacente Financial Communications
    Helen Wu
    Tel: +86-10-6508-0677
    E-mail: bilibili@tpg-ir.com 

    In the United States:

    Piacente Financial Communications
    Brandi Piacente
    Tel: +1-212-481-2050
    E-mail: bilibili@tpg-ir.com

    The MIL Network –

  • MIL-OSI: Dimensional Fund Advisors Ltd. : Form 8.3 – SPIRENT COMMUNICATIONS PLC – Ordinary Shares

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1. KEY INFORMATION  
       
    (a) Full name of discloser: Dimensional Fund Advisors Ltd. in its capacity as investment advisor and on behalf its affiliates who are also investment advisors (”Dimensional”). Dimensional expressly disclaims beneficial ownership of the shares described in this form 8.3.  
    (b) Owner or controller of interests and short positions disclosed, if different from 1(a):
    The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		    
    (c) Name of offeror/offeree in relation to whose relevant securities this form relates:
    Use a separate form for each offeror/offeree    		 Spirent Communications PLC  
    (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:    
    (e) Date position held/dealing undertaken:
    For an opening position disclosure, state the latest practicable date prior to the disclosure    		 05 February 2025  
    (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
    If it is a cash offer or possible cash offer, state “N/A”    		 N/A  
       
    2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE  
       
    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.  
    (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)  
       
    Class of relevant security: 3 1/3p ordinary (GB0004726096)  
      Interests Short Positions  
      Number % Number %  
    (1) Relevant securities owned and/or controlled: 8,483,088 1.47 %      
    (2) Cash-settled derivatives:          
    (3) Stock-settled derivatives (including options) and agreements to purchase/sell:          
      Total 8,483,088 * 1.47 %      
    * Dimensional Fund Advisors LP and/or its affiliates do not have discretion regarding voting decisions in respect of 22,944 shares that are included in the total above.  
       
    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    		  
       
       
    (b) Rights to subscribe for new securities (including directors’ and other employee options)  
       
    Class of relevant security in relation to which subscription right exists:    
    Details, including nature of the rights concerned and relevant percentages:    
       
    3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE  
       
    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

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

    		  
    (a) Purchases and sales  
       
    Class of relevant security Purchase/sale Number of securities Price per unit  
    3 1/3p ordinary (GB0004726096) Sale 26,590 1.8489 GBP  

    Please note, there were net transfers in of 16,028

    		  
    (b) Cash-settled derivative transactions  
       
    Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit  
               
       
    (c) Stock-settled derivative transactions (including options)
     
    (i) Writing, selling, purchasing or varying
     
    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit
                   
       
    (ii) Exercise  
       
    Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit  
               
       
    (d) Other dealings (including subscribing for new securities)  
                 
    Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable)  
             
       
    4. OTHER INFORMATION  
       
    (a) Indemnity and other dealing arrangements  
       
    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (b) Agreements, arrangements or understandings relating to options or derivatives  
       
    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i) the voting rights of any relevant securities under any option; or
    (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (c) Attachments  
       
    Is a Supplemental Form 8 (Open Positions) attached? NO  
       
    Date of disclosure 06 February 2025  
    Contact name Thomas Hone  
    Telephone number +44 20 3033 3419  
       

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

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

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

    The MIL Network –

  • MIL-OSI: Regarding the change of the Manager of closed-end investment company intended for informed investors UAB “Atsinaujinančios energetikos investicijos”

    Source: GlobeNewswire (MIL-OSI)

    The closed-end investment company UAB “Atsinaujinančios energetikos investicijos” (hereinafter – the Investment Company) informs that from February 7, 2025, the manager of the Investment Company, Grėtė Bukauskaitė, will go on maternity leave.

    The new manager of the Investment Company has been elected and appointed – Mr. Mantas Auruškevičius, who has been working at the management company UAB “Lords LB Asset Management” since 2021.

    Contact person for further information:

    Rūta Abromavičienė, Legal Officer of LORDS LB ASSET MANAGEMENT, UAB

    ruta.abromaviciene@lordslb.lt 

    The MIL Network –

  • MIL-OSI: R3 partners with IDEMIA Secure Transactions to Transform CBDC Payments Both Online and Offline

    Source: GlobeNewswire (MIL-OSI)

    • R3’s Digital Currency platform integrates IDEMIA Secure Transactions’ offline solution to enable secure, seamless CBDC transactions both online and offline, progressing the global digital payments ecosystem.

    LONDON, Feb. 06, 2025 (GLOBE NEWSWIRE) — R3, the financial markets digital solutions provider, has partnered with IDEMIA Secure Transactions (IST), a division of IDEMIA Group and global provider of secure payment and connectivity solutions, to offer offline payment solutions. This partnership marks a significant step forward in the evolution of Central Bank Digital Currencies (CBDCs), offering enhanced access and usability across both online and offline environments.

    R3’s Digital Currency platform is advancing global financial infrastructure by empowering central banks and financial institutions with programmable digital money for wholesale and retail CBDCs, as well as private digital currencies. Built on R3’s Corda—the leading tokenization platform for regulated institutions with 60+ live applications globally—it offers secure, scalable digital money solutions that ensure network sovereignty and interoperability. Users have control over their networks while maintaining the ability to transact seamlessly across others unlocking access to next-generation services.

    IST provides secure, market-leading offline capabilities for CBDCs, and other digital currencies. The solution leverages hardware security, robust offline payment protocols and device-integrated security layers to enable safe and easy offline transactions directly on user devices. IST also offers secure dynamic provisioning solutions, based on its market leading platform, to remotely deploy offline wallets on user smartphones. Integrating IST’s offline solution with R3’s Digital Currency platform enables CBDCs issued on Corda to be held and used in retail offline transactions, providing cash-like capabilities to the CBDC.

    This collaboration provides a unique advancement in online and offline CBDC usage, enabling end-users to make transactions from a range of devices, including phones and smart cards. This initiative enhances financial inclusion, especially for remote areas where there may be limited or no internet capability, strengthening the digital payment system and diversifying payment options. It also enhances financial services resilience whilst introducing new technologies to support further customer product innovation.

    Commenting on the partnership, Kate Karimson, Chief Commercial Officer of R3, said, “As 130 countries actively explore CBDCs, while many others are pursuing alternative forms of tokenized payment solutions, these innovations have the potential to generate huge financial efficiencies for both the wholesale and retail sector by reducing payment fees and accelerating the movement of money. By enabling secure and efficient offline transactions, IDEMIA Secure Transactions and R3 are unlocking access to this promising technology and building products for an open and connected digital future. We’re excited to expand this initiative to other product capabilities soon.”

    Kate Eagle, Head of Growth & Innovation Incubation at IDEMIA Secure Transactions, said, “IDEMIA Secure Transactions is excited to partner with R3 on our offline digital currency solution. Integrating with R3’s Digital Currency platform to enable CBDCs issued on the Corda network to be exchanged offline from a range of devices expands access to digital currencies and streamlines the wallet payment experience. This partnership also introduces technology that enables consecutive offline payments between payers and payees, leveraging secure chip technology for enhanced and uncompromised security. We are proud to be driving financial inclusion and innovation at the forefront of this sector.”

    Media Enquiries

    Eterna Partners

    (+44) 7442 230170

    R3@eternapartners.com

    About R3

    R3 is the leader in digital currency, digital assets and interoperability solutions. R3 supports Central Banks, Corporates and FMIs by providing them with solutions to progress financial markets digitization.

    Corda is an open, permissioned DLT platform powering the tokenization of assets and currencies connecting global markets. Corda enables tokenization with control, security and privacy, providing asset mobility in a permissioned, trusted environment.

    R3 is committed to progressing financial markets and to enabling an open, trusted and advanced digital economy.

    For further information, please visit www.r3.com.

    The MIL Network –

  • MIL-OSI: International Petroleum Corporation to release 2024 Year-End Financial and Operational Results and to hold Capital Markets Day on February 11, 2025

    Source: GlobeNewswire (MIL-OSI)

    International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm: IPCO) will publish its financial and operating results and related management’s discussion and analysis for the three months and year ended December 31, 2024, on Tuesday, February 11, 2025 at 07:30 CET, followed by an audiocast at 10:00 CET (09:00 GMT). IPC’s annual Capital Markets Day will also be held on Tuesday, February 11, 2025 as a webcast at 15:00 CET (14:00 GMT).

    Follow the 2024 year-end financial and operating results presentation starting at 10:00 CET (09:00 GMT) live on www.international-petroleum.com or using the link below:

    Presentation Link: https://ipc.videosync.fi/2025-02-11-q4

    Follow the Capital Markets Day presentation at 15:00 CET (14:00 GMT) live on www.international-petroleum.com or using the link below:

    Presentation Link: https://ipc.videosync.fi/2025-02-11-cmd

    International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm under the symbol “IPCO”.

    For further information, please contact:

    Rebecca Gordon
    SVP Corporate Planning and Investor Relations
    rebecca.gordon@international-petroleum.com
    Tel: +41 22 595 10 50    		  

    Or

    		 Robert Eriksson
    Media Manager
    reriksson@rive6.ch
    Tel: +46 701 11 26 15

    Forward-Looking Statements
    This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

    All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”.

    Attachment

    The MIL Network –