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Category: GlobeNewswire

  • MIL-OSI: Form 8.3 – [LEARNING TECHNOLOGIES GROUP PLC – 20 12 2024] – (CGWL)

    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: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (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.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 LEARNING TECHNOLOGIES GROUP PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 20 DECEMBER 2024
    (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: 0.375p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 9,748,176 1.2301    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 9,748,176 1.2301    

    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
    0.375p ORDINARY SALE 10,900 97.81p

    (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
    NONE        

    (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
    NONE              

    (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)
    NONE      

    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: 23 DECEMBER 2024
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    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: Form 8.3 – [LOUNGERS PLC – 20 12 2024] – (CGWL)

    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: CANACCORD GENUITY WEALTH LIMITED (for Discretionary Clients)
    (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.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 LOUNGERS PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure

    20 DECEMBER 2024
    (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: 1p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 1,300,261 1.2508    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 1,300,261 1.2508    

    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
    1p ORDINARY SALE 4,335 305.022p

    (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
    NONE        

    (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
    NONE              

    (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)
    NONE      

    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: 23 DECEMBER 2024
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    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: Castellum, Inc. Wins OASIS+ Unrestricted IDIQ Contract

    Source: GlobeNewswire (MIL-OSI)

    VIENNA, Va., Dec. 23, 2024 (GLOBE NEWSWIRE) — Castellum, Inc. (NYSE-American: CTM) (“Castellum”), a cybersecurity, electronic warfare, and software engineering services company focused on the federal government, announces that its subsidiary Specialty Systems, Inc., teaming with Castellum’s other two subsidiaries Corvus Consulting, LLC and Global Technology and Management Resources, Inc., was awarded all four unrestricted domains upon which it submitted proposals. This award is in addition to the three small business domains the Castellum team has already been awarded on One Acquisition Solution for Integrated Services Plus (“OASIS+”).

    OASIS+ is a suite of government-wide, multi-award contracts designed to support federal agencies’ procurement requirements for services-based solutions. With a potential ten-year performance period and no ceiling value, OASIS+ represents a significant opportunity for the Castellum team to expand its support to federal customers. Learn more at: https://www.gsa.gov/oasis-plus/about/

    “Our Castellum team could not be more excited and inspired to learn of this major strategic win, the most important in Castellum’s history, and we are 100% prepped and energized to push full throttle and maximize the considerable potential OASIS+ unrestricted IDIQ contract represents. Our award in the unrestricted category includes four key domains where we are laser-focused, determined, and galvanized for organic growth: intelligence services, technical and engineering, research and development, and management & advisory. These domains represent some of the most relevant and critically important needs and requirements across our federal government and for many of our current and future mission customers, and they also represent what we do best. OASIS+ could not be a better fit for us and our strengths. As I have reinforced in past press releases, our winning advantage starts with our exceptional Castellum professionals that bring those world-class skills, talent, and experience, specific to these domains, for our customers and our vital national security mission. And together with our strong mission and technical capabilities and extensive and relevant past performance that are also directly linked to these four domains, our Castellum team will be well-postured to successfully pursue our strong and viable organic growth plans and goals for the new year and beyond,” said Glen Ives, President and Chief Executive Officer of Castellum.

    About Castellum, Inc.

    Castellum, Inc. (NYSE-American: CTM) is a cybersecurity, electronic warfare, and software engineering services company focused on the federal government – http://castellumus.com/.

    Cautionary Statement Concerning Forward-Looking Statements:

    This release contains 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 represent the Company’s expectations or beliefs concerning future events and can generally be identified by the use of statements that include words such as “estimate,” “project,” “believe,” “anticipate,” “shooting to,” “intend,” “plan,” “foresee,” “likely,” “will,” “would,” “appears,” “goal,” “target” or similar words or phrases. Forward-looking statements include, but are not limited to, statements regarding the Company’s expectations for revenue growth and new customer opportunities including opportunities arising from the OASIS+ unrestricted contract, improvements to cost structure, and profitability. These forward-looking statements are subject to risks, uncertainties, and other factors, many of which are outside of the Company’s control, that could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, including, among others: the Company’s ability to compete against new and existing competitors; its ability to effectively integrate and grow its acquired companies; its ability to identify additional acquisition targets and close additional acquisitions; the impact on the Company’s revenue due to a delay in the U.S. Congress approving a federal budget or continuing resolution; and the Company’s ability to maintain the listing of its common stock on the NYSE American LLC. For a more detailed description of these and other risk factors, please refer to the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission (“SEC”) which can be viewed at www.sec.gov. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. The Company expressly disclaims any intent or obligation to update any of the forward-looking statements made in this release or in any of its SEC filings except as may be otherwise stated by the Company.

    Contact:

    Glen Ives, President and Chief Executive Officer
    Phone: (703) 752-6157
    Contact: Info@castellumus.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fede7b34-328b-4712-af1f-9dac580afdb7

    The MIL Network –

  • MIL-OSI: Partners Value Investments L.P. Announces Renewal of Normal Course Issuer Bids

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Dec. 23, 2024 (GLOBE NEWSWIRE) — Partners Value Investments L.P. (the “Partnership”) (TSX VENTURE: PVF) announced today that it has received approval from the TSX Venture Exchange (the “Exchange”) to renew its normal course issuer bids to purchase up to 3,521,732 of its non‐voting equity limited partnership units (the “Equity LP Units”), representing approximately 5% of its currently outstanding Equity LP Units; and to purchase up to 938,226 of its non‐voting Class A preferred limited partnership units, Series 1 (the “Preferred LP Units”), representing approximately 5% of its currently outstanding Preferred LP Units (collectively, the “Bids”). The period of the Bids will be effective from January 3, 2025 to January 2, 2026, or such earlier date that the Partnership completes its purchases.

    Purchases by the Partnership pursuant to the Bids will be made by its broker, RBC Capital Markets, through the facilities of the Exchange, other designated exchanges and alternative trading systems in Canada. The price which the Partnership will pay for any Equity LP Units and Preferred LP Units purchased will be the market price of the Equity LP Units and Preferred LP Units at the time of acquisition. Any Equity LP Units and/or Preferred LP Units acquired through the Bids will be cancelled. As of December 13, 2024, there were 70,434,631 Equity LP Units outstanding and 18,764,512 Preferred LP Units outstanding.

    Of the 3,533,556 Equity LP units and 938,350 Preferred LP Units approved for purchase under the Partnership’s prior normal course issuer bids that commenced on January 3, 2024 and will be expiring on January 2, 2025, the Partnership purchased 278,324 Equity LP Units at an average price of $102.02 and did not make any purchase of Preferred LP Units through the facilities of the Exchange, other designated exchanges or an alternative trading system in Canada.

    The Partnership believes that, from time to time, the market price of its securities may not adequately reflect their value. In such circumstances, the Partnership believes the purchase of its outstanding securities may represent an appropriate and desirable use of its available funds. All Equity LP Units and Preferred LP Units acquired by the Partnership under the Bids will be cancelled.

    In connection with the Bids, the Partnership entered into an automatic purchase plan with its designated broker, RBC Capital Markets. The automatic purchase plan will allow for the purchase of Equity LP Units and Preferred LP Units when the Partnership would not ordinarily be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Outside of these periods, Equity LP Units and Preferred LP Units will be repurchased in accordance with management’s discretion and in compliance with applicable law.

    For further information, contact Investor Relations at ir@pvii.ca or 416-643-7621.

    Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian securities regulations. Expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward- looking information and forward-looking statements.

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

    Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements and information include, but are not limited to: the financial performance of Brookfield Corporation and Brookfield Asset Management Ltd., the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws, catastrophic events, such as earthquakes, hurricanes, or pandemics/epidemics; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Partnership’s documents filed with the securities regulators in Canada.

    The Partnership cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Partnership’s forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Partnership undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or otherwise.

    The MIL Network –

  • MIL-OSI: Castellum, Inc. Announces Pricing of $3.6 Million Registered Direct Offering

    Source: GlobeNewswire (MIL-OSI)

    VIENNA, Va., Dec. 23, 2024 (GLOBE NEWSWIRE) — Castellum, Inc. (the “Company”) (NYSE-American: CTM), a cybersecurity, electronic warfare, and software services company focused on the federal government, today announced that it has entered into a securities purchase agreement with several institutional investors to purchase 9,473,700 shares of common stock in a registered direct offering. The shares of common stock are being sold at an offering price of $0.38 per share.

    The gross proceeds to the Company from the registered direct offering are estimated to be approximately $3.6 million before deducting the placement agent’s fees and other estimated offering expenses payable by the Company. The offering is expected to close on or about December 24, 2024, subject to the satisfaction of customary closing conditions.

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

    The shares of common stock are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-275840), which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on December 12, 2023. The offering of shares of common stock will be made only by means of a prospectus supplement that forms a part of such registration statement.

    This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. A prospectus supplement relating to the shares of common stock will be filed by the Company with the SEC. When available, copies of the prospectus supplement relating to the registered direct offering, together with the accompanying prospectus, can be obtained at the SEC’s website at www.sec.gov or from Maxim Group LLC, 300 Park Avenue, New York, NY 10022, Attention: Syndicate Department, or via email at syndicate@maximgrp.com or telephone at (212) 895-3500.

    About Castellum, Inc.

    Castellum, Inc. (NYSE-American: CTM) is a defense-oriented technology company that is executing strategic acquisitions in the cybersecurity, MBSE, and information warfare areas – http://castellumus.com/.

    Forward-Looking Statements:

    This release contains 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. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Words such as “will,” “would,” “believe,” and “expects,” and similar language or phrasing are indicative of forward-looking statements. These forward-looking statements are subject to risks, uncertainties, and other factors, many of which are outside of the Company’s control, that could cause actual results to differ (sometimes materially) from the results expressed or implied in the forward-looking statements, including, among others: the Company’s ability to close the described debt financing; its ability to effectively integrate and grow its acquired companies; its ability to identify additional acquisition targets and close additional acquisitions; the impact on the Company’s revenue due to a delay in the U.S. Congress approving a federal budget; and the Company’s ability to maintain the listing of its common stock on the NYSE American LLC. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in Item 1A. “Risk Factors” section of the Company’s recently filed Form 10-Q, Item 1A. “Risk Factors” in the Company’s most recent Form 10-K, and other filings with the Securities and Exchange Commission which can be viewed at www.sec.gov. These risks and uncertainties, or not closing the described potential debt financing in this press release, could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise.

    Contact:

    Glen Ives, President and Chief Executive Officer
    Phone: (703) 752-6157
    Contact: Info@castellumus.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f3d9cecc-6bab-4be4-a011-1a1ac2c9d09a

    The MIL Network –

  • MIL-OSI: Boralex adds another 97 MW in its expanding UK portfolio

    Source: GlobeNewswire (MIL-OSI)

    EDINBURGH, United Kingdom, Dec. 23, 2024 (GLOBE NEWSWIRE) — Boralex Inc. (“Boralex” or the “Company”) (TSX: BLX) is pleased to announce that it has entered into a joint venture for the development, construction and operation of the proposed 145MW Clashindarroch Wind Farm Extension and adjacent 50MW Battery Energy Storage System (BESS), for a total capacity of 195MW. The project is located near Dufftown in Moray, Scotland. Boralex has been developing this project for a number of years on behalf of Clashindarroch Wind Farm Extension Ltd.

    Esbjorn Wilmar, Country Director of Boralex in the United Kingdom said: “We are delighted to have become co-owners of this exciting project. We already have extensive experience in the area through the initial development of the 177MW Dorenell Wind Farm. We now look forward to taking Clashindarroch Wind Farm Extension through the remaining stages of development.”

    Nicolas Wolff, Executive Vice President and General Manager of Boralex in Europe said: “This latest achievement by our UK team will enable us to accelerate the deployment of our Strategic Plan. Through this joint venture, we are adding to our already solid portfolio, supported by our organic developments and the recent acquisition of the 50MW Sallachy wind project.”

    Today’s announcement comes at a pivotal moment in the UK. Earlier in the month, the UK government unveiled its Clean Power Action Plan, setting out how it wants to achieve its grid decarbonisation targets by 2030. This plan, seen as a landmark for the clean energy sector, aims to unlock £40 billion annually from the private sector for investments in infrastructure and renewable energy. It also states that onshore wind capacity should be almost doubled to meet the decarbonisation target, from 14GW installed today to 27GW by 2030.

    The Company submitted a Section 36 application to the Scottish Government. The application is currently under consideration by the Government’s Energy Consents Unit (ECU). The Clashindarroch Wind Farm Extension application consists of up to 22 wind turbines each with an installed capacity of up to 6.6MW, as well as a battery storage facility of up to 50MW.

    On this transaction, CMS acted as Boralex’s legal advisers.

    About Boralex

    At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France’s largest independent producer of onshore wind power, we also have facilities in the United States and development projects in the United Kingdom. Over the past five years, our installed capacity has more than doubled to over 3.1 GW. We are developing a portfolio of more than 7.2 GW in wind, solar projects and storage projects, guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, our discipline, our expertise and our diversity, we continue to be an industry leader. Boralex’s shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.

    For more information, visit boralex.com or sedarplus.com. Follow us on Facebook, LinkedIn and Instagram.

    For more information

    MEDIA  INVESTOR RELATIONS 
    Camille Laventure 
    Senior Advisor, Public Affairs and External Communications
    Boralex Inc. 

    438-883-8580 
    camille.laventure@boralex.com  

    		 Stéphane Milot 
    Vice President, Investor Relations 

    Boralex Inc. 

    514-213-1045 
    stephane.milot@boralex.com  

    Source: Boralex Inc.        

    The MIL Network –

  • MIL-OSI: Revolutionize Your Crypto Trades: BexBack Offers Double Deposit Bonus and 100x Leverage Crypto Trading No KYC

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, Dec. 23, 2024 (GLOBE NEWSWIRE) — As Bitcoin’s price recently surged past the $100,000 milestone only to dip below this critical level, market volatility has reached new highs. Analysts predict that Bitcoin may be entering a prolonged phase of high volatility. In such a dynamic environment, holding spot positions alone may no longer yield consistent short-term profits. To empower traders in seizing these market opportunities, BexBack Exchange has launched a suite of enticing offers:

    • 100% Deposit Bonus
    • $50 Welcome Bonus for New Users
    • Up to 100x Leverage for Cryptocurrency Trading

    These offers create unmatched profit potential for crypto investors while providing an edge in navigating volatile markets.

    What Is 100x Leverage and How Does It Work?

    100x leverage allows traders to amplify their positions with minimal capital. For instance:

    • If Bitcoin is priced at $90,000 and a trader opens a long contract with 1 BTC, using 100x leverage equates to a transaction value of 100 BTC.
    • If the price increases to $99,000 the next day, the profit will be calculated as:
      (99,000 – 90,000) * 100 BTC / 90,000 = 10 BTC, resulting in a remarkable 1000% yield.

    When combined with BexBack’s 100% deposit bonus, the potential profit can double, offering even higher returns.

    Note: While leveraged trading magnifies profits, it also increases liquidation risks.

    How Does the 100% Deposit Bonus Work?

    BexBack’s deposit bonus is designed to enhance traders’ potential. While the bonus cannot be withdrawn directly, it can be used to open larger positions or as extra margin during significant market fluctuations, effectively reducing the risk of liquidation.

    About BexBack

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    Media Contact
    Business Team
    Email: business@bexback.com
    Website: www.bexback.com

    Contact:
    Amanda
    business@bexback.com

    Disclaimer: This content is provided by BexBack. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/7ff2bd9f-7765-448d-b96a-401885758143

    https://www.globenewswire.com/NewsRoom/AttachmentNg/3e87d43e-f245-47bb-a008-1b08b56e0a6b

    https://www.globenewswire.com/NewsRoom/AttachmentNg/12135f1b-04cc-403c-a06a-57694a16c7fb

    https://www.globenewswire.com/NewsRoom/AttachmentNg/84e6fc2d-66a7-4f13-9b88-b95baf95b6ad

    The MIL Network –

  • MIL-OSI: TeraWulf to Deliver over 70 MW of Data Center Infrastructure for G42’s US Operations

    Source: GlobeNewswire (MIL-OSI)

    Core42, a Subsidiary of G42, will utilize the facility to expand its industry-leading AI Infrastructure offerings tailored to US customers

    Strategic Expansion of TeraWulf’s Platform into AI-Driven HPC Hosting, Complementing Profitable Bitcoin Mining Operations

    Management to Host Conference Call and Live Audio Webcast at 8:00 a.m. Eastern Time Today

    EASTON, Md., Dec. 23, 2024 (GLOBE NEWSWIRE) — TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), a leading owner and operator of vertically integrated, next-generation digital infrastructure powered by predominantly zero-carbon energy, today announced the signing of long-term data center lease agreements with Core42, a G42 company specializing in sovereign cloud, AI infrastructure, and digital services.

    Under the data center lease agreements, TeraWulf will deliver over 70 megawatts (MW)1 of turn-key data center infrastructure to host Core42’s deployment at the Lake Mariner facility in Upstate New York. The infrastructure will be released for production in phases between Q1 and Q3 2025.

    TeraWulf will customize the data halls to support Core42’s GPU clusters, which will feature state-of-the-art Dell Integrated Rack Scalable Solutions, the Dell IR5000. These integrated racks include direct liquid cooled Dell PowerEdge XE9680L GPU servers and will come online in phases.

    The data center leases reflect TeraWulf’s strategic extension into AI-driven computing, complementing its profitable Bitcoin mining operations and aligning with the Company’s mission to leverage scalable, sustainable energy to power the digital economy.

    Leadership Commentary

    “Our strategic relationship with G42, and most specifically with Core42, positions TeraWulf at the intersection of two of today’s most transformative computational networks: AI compute and Bitcoin mining,” said Paul Prager, Chief Executive Officer of TeraWulf. “The surging demand for scalable, energy-efficient infrastructure presents a tremendous opportunity. Our ability to rapidly deliver customized, predominantly zero-carbon-powered solutions solidifies our position as a leader in the digital infrastructure space. This agreement not only diversifies our revenue streams but also significantly enhances our long-term earnings potential.”

    Nazar Khan, Chief Technology Officer of TeraWulf, emphasized the strength of the collaboration by remarking, “Core42’s entrepreneurial vision and impressive growth trajectory make them an exceptional partner. Together, we are uniquely equipped to meet the growing demand for AI-driven computing solutions.”

    “TeraWulf’s Lake Mariner facility represents an ideal match for Core42’s expanding next-generation digital infrastructure in North America,” said Edmondo Orlotti, Chief Growth Officer of Core42. “The facility’s access to predominantly zero-carbon power, combined with TeraWulf’s demonstrated ability to rapidly deploy customized data center solutions, aligns perfectly with our commitment to sustainable, high-performance AI compute infrastructure.” 

    Arthur Lewis, President of the Infrastructure Solutions Group at Dell Technologies commented: “Dell Technologies is committed to empowering organizations of all types with tools like the Dell AI Factory to thrive in a data-driven world. With TeraWulf and Core42, we’re delivering industry-leading, liquid-cooled server solutions that enable scalable, sustainable data center infrastructure, accelerating AI innovation across industries.”

    Financial Highlights

    The data center leases include two five-year renewal options, providing a long-term, stable, high-margin revenue stream for TeraWulf. Additionally, the data center lease agreements include provisions for expanding near-term hosting capacity for Core42 by an additional 135 MW gross, which is equivalent to 108 MW of critical IT load, underscoring the potential for future scalability and revenue growth.

    Advisors

    TeraWulf is being advised by JP Morgan and Morgan Stanley as financial advisors and Milbank LLP and Stutzman, Bromberg, Esserman & Plifka, P.C. as legal advisors.

    Conference Call and Webcast Details

    TeraWulf will host a conference call to discuss the partnership with Core42. Hosting the call and webcast will be Paul Prager, Chief Executive Officer, Nazar Khan, Chief Technology Officer, Patrick Fleury, Chief Financial Officer, Kerri Langlais, Chief Strategy Officer, and John Larkin, Director of Investor Relations.

    Date: December 23, 2024
    Time: 8:00 a.m. Eastern Time
    Participant Dial-In: 1-877-407-0789 or 1-201-689-8562

    Investors are invited to submit questions ahead of the call to info@terawulf.com. The management team will address as many questions as possible during the live call.

    All interested parties may also access a live webcast of the event at www.investors.terawulf.com, under the “News and Events” tab, or by using the following link:

    https://viavid.webcasts.com/starthere.jsp?ei=1702352&tp_key=2f26f643b7

    For those unable to participate during the live webcast, a replay will be available at www.investors.terawulf.com.

    All questions pertaining to G42 can be addressed to media@g42.ai.

    All questions pertaining to Core42 can be addressed to communications@core42.ai.

    About TeraWulf

    TeraWulf develops, owns, and operates environmentally sustainable, next-generation data center infrastructure in the United States, specifically designed for Bitcoin mining and hosting HPC workloads. Led by a team of seasoned energy entrepreneurs, the Company owns and operates the Lake Mariner facility situated on the expansive site of a now retired coal plant in Western New York. Currently, TeraWulf generates revenue primarily through Bitcoin mining, leveraging predominantly zero-carbon energy sources, including hydroelectric and nuclear power. Committed to environmental, social, and governance (ESG) principles that align with its business objectives, TeraWulf aims to deliver industry-leading economics in mining and data center operations at an industrial scale.

    About Core42

    Core42, a G42 company, empowers individuals, enterprises, and nations to unlock the full potential of AI through its comprehensive enablement capabilities. As a leading provider of sovereign cloud, AI infrastructure, and services, our mission is to accelerate the achievements of others and help them reach their most ambitious goals.

    To learn more, please visit www.core42.ai and follow Core42 LinkedIn, Core42 Instagram, Core42 X.

    About G42

    G42 is a global leader in creating visionary artificial intelligence capabilities for a better tomorrow. Born in Abu Dhabi and operating around the world, G42 champions AI as a powerful force for good. Its people are constantly reimagining what technology can do, applying advanced thinking and innovation to accelerate progress and tackle society’s most pressing problems.

    G42 is joining forces with nations, corporations and individuals to create the infrastructure for tomorrow’s world. From molecular biology to space exploration and everything in between, G42 realizes exponential possibilities, today.

    For further information visit www.g42.ai.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (3) changes in applicable laws, regulations and/or permits affecting TeraWulf’s operations or the industries in which it operates, including regulation regarding power generation, cryptocurrency usage and/or cryptocurrency mining, and/or regulation regarding safety, health, environmental and other matters, which could require significant expenditures; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations; (6) loss of public confidence in bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation; (7) adverse geopolitical or economic conditions, including a high inflationary environment; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (9) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of TeraWulf, including mining equipment and infrastructure equipment meeting the technical or other specifications required to achieve its growth strategy; (10) employment workforce factors, including the loss of key employees; (11) litigation relating to TeraWulf and/or its business; and (12) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at www.sec.gov.

    Investors:
    Investors@terawulf.com 

    Media:
    media@terawulf.com 

    ____________________________
    1     Represents gross capacity. Critical IT capacity is as follows: 2 MW for the Wulf Den, 16 MW for CB-1, and 42 MW for CB-2.

    The MIL Network –

  • MIL-OSI: Matador Adds Bitcoin to its Balance Sheet

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Dec. 23, 2024 (GLOBE NEWSWIRE) — Matador Technologies Inc. (“Matador” or the “Company”) (TSXV: MATA) is proud to announce that its Board of Directors has unanimously approved adding Bitcoin and USD-denominated assets to its corporate treasury as part of its long-term capital preservation strategy.

    The Board has identified risks associated with its current treasury, which is primarily denominated in Canadian dollars. Canada’s reliance on oil exports and its rising national debt raise concerns about potential devaluation and loss of purchasing power for Canadian denominated assets. To address these risks, the Board has approved adding Bitcoin and USD-denominated assets to its corporate treasury.1

    Matador plans to front-load an initial allocation of $4.5 million into Bitcoin in the month of December 2024 and will continue to explore additional purchases at the board level via measured buying programs.

    Additionally, Matador plans to move the majority of its cash balance sheet from CAD to USD. The decision reflects Matador’s belief in Bitcoin’s role as a store of value asset that mitigates the downside risk of currency debasement. This move follows global trends, as institutional adoption of Bitcoin grows among corporations seeking alternatives to bonds and depreciating currencies.2

    “Matador’s Board and management believe in using Bitcoin to future-proof our treasury,” Sunny Ray, President of Matador, added. “This step also supports our mission to explore using Bitcoin as a platform for our gold-based products.”

    This move will continue to support the development and launch of Matador’s digital gold platform, which is a technology-based system that enables users to own, trade, and store digital representations of gold, backed by physical reserves with the physical gold being held at the Royal Canadian Mint. These holdings are expected to underpin the company’s product development efforts and reinforce confidence in the Company’s treasury management strategy. After an initial review of alternative platforms, including Ethereum and Solana, the Board believes that Bitcoin stands apart in its ability to deliver the security, stability, and trustworthiness required for a digital gold asset platform. Bitcoin’s deep liquidity and widespread institutional adoption further support the belief that Bitcoin is the ideal foundation for Matador’s vision of a trustworthy, digital gold platform.3

    “For Matador’s focus on creating a product that exemplifies trust, permanence, and value, we expect Bitcoin to be the platform of choice,” said Deven Soni, CEO and Chairman of Matador.

    The Board will further evaluate its technology platform alternatives in the near future, with the objective of making a decision on which technology platform will underpin its digital gold product in Q1 2025. Once a decision has been made, Matador intends on launching its digital gold product to a limited audience.

    Matador will continue to update shareholders regarding its treasury execution and custody strategy in the coming weeks.

    About Matador Technologies Inc.

    Matador Technologies Inc. is a digital gold platform leveraging blockchain technology to digitize real-world assets like gold. Focused on building innovative financial solutions, Matador is at the forefront of integrating blockchain technology to preserve and grow value. It’s digital gold platform aims to democratize the gold buying experience, combining the best of modern technology and time-proven assets, to create an app that will allow users to buy, sell, and store gold 24/7, with the added security and flexibility of an encrypted mobile application.

    Contact Information:

    Sunny Ray
    President
    sunny@matador.network
    647-932-2668

    Cautionary Statement Regarding Forward-Looking Information

    NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

    This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

    Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks associated with the implementation of the Company’s treasury management strategy and the launch of its mobile application as currently proposed or at all. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including with respect to the potential acquisition of Bitcoin and/or US dollars, the pricing of such acquisitions and the timing of future operations. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

    _________________________
    1 https://www.ceicdata.com/en/indicator/canada/crude-oil-exports?utm_source=chatgpt.com, https://www.reuters.com/world/americas/canada-overshoots-deficit-target-by-c20-billion-finance-minister-resigns-2024-12-16/?utm_source=chatgpt.com.
    2 https://kensoninvestments.com/knowledge-centre/bitcoin-and-institutional-adoption-trends-and-strategic-insights/?utm_source=chatgpt.com, https://www.reuters.com/markets/us/blackrock-recommends-bitcoin-portfolio-weighting-up-2-interested-investors-2024-12-12/, https://www.forbes.com/sites/digital-assets/2024/12/08/us-treasury-names-bitcoin-digital-gold-after-price-explosion/, https://www.finivi.com/bitcoin-mainstream-blackrocks-pivotal-role-institutional-adoption/, https://www.fidelitydigitalassets.com/research-and-insights/institutional-adoption-digital-assets.
    3 https://coinmarketcap.com/currencies/bitcoin/.

    The MIL Network –

  • MIL-OSI: Dominican Republic: A Strategic Destination Attracting Multimillion-Dollar Investments

    Source: GlobeNewswire (MIL-OSI)

    SANTO DOMINGO, Dominican Republic, Dec. 20, 2024 (GLOBE NEWSWIRE) — The Dominican Republic continues to consolidate itself as a strategic destination for foreign investment, standing out for its highly skilled human talent, favorable business climate, and geographical proximity to the United States. These factors, combined with tax incentives and a modern free trade zone ecosystem, have turned the country into a magnet for important multinational companies.

    A clear example of this confidence can be seen in the recent financial operations of major global companies, including operations in the Dominican Republic. Medical technology giants Edwards Lifesciences and Becton Dickinson (BD) completed a US$4.2 billion transaction. Meanwhile, Ecolab completed the sale of its global surgical solutions unit to Medline in a transaction valued at approximately US$950 million, including most of its current operations in the Dominican Republic, highlighting the country’s attractiveness as a strategic center for manufacturing and services.

    A Media Snippet accompanying this announcement is available by clicking on this link.

    BD’s acquisition of the Critical Care division of Edwards Lifesciences reflects its interest in expanding its global portfolio and strengthening its production capacity, taking advantage of the competitive advantages offered by the Dominican Republic, such as political and economic stability, a solid legal framework, attractive tax incentives, first-rate logistical connectivity, and a young and dynamic workforce.

    Similarly, Medline’s operation underscores the Dominican Republic’s key role in global supply chains. The country has been instrumental in the success of its surgical solutions, including Microtek’s innovative technologies, which are known for their reliability and advanced design. This focus on innovation has enabled companies such as Medline to leverage Ecolab’s legacy of quality and strengthen their position in the global marketplace.

    The Dominican Republic has positioned itself as a leader in medical device manufacturing in Latin America, thanks to developing and strengthening its free trade zones and its commitment to excellence. These BD and Medline operations are tangible proof of the confidence of major international companies in the country’s business environment and the quality of its human resources.

    These investments boost national economic growth and consolidate the Dominican Republic as a reliable and strategic destination for high-impact business. With its proximity to the United States, one of the world’s largest markets, and its focus on innovation and competitiveness, the country continues to attract global leaders’ attention.

    About the Ministry of Industry, Commerce, and MSME’s (MICM)
    MICM is the government body responsible for policy formulation, adoption, monitoring, evaluation, and control in the fields of industry, exports, foreign trade, free zones, special regimes, and SMEs.

    Contact information
    Ministry of Industry, Commerce, and MSME’s (MICM)
    Viceministry of Free Zone and Special Regimes
    (1) 809-685-5171 ext 1017
    www.micm.gob.do

    The MIL Network –

  • MIL-OSI: Form 8.3 – [LEARNING TECHNOLOGIES GROUP PLC – 19 12 2024] – (CGWL)

    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: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (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.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 LEARNING TECHNOLOGIES GROUP PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 19 DECEMBER 2024
    (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: 0.375p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 9,759,076 1.2314    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 9,759,076 1.2314    

    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
    0.375p ORDINARY SALE 2,202 97.81p
    0.375p ORDINARY SALE 7,150 97.8322p

    (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
    NONE        

    (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
    NONE              

    (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)
    NONE      

    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: 20 DECEMBER 2024
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    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: Bigbank AS Financial Calendar for 2025

    Source: GlobeNewswire (MIL-OSI)

    Bigbank AS has confirmed the bank’s Financial Calendar for the 2025 financial year.

    In 2025, Bigbank plans to disclose information according to the following schedule:

    26.02.2025 Q4 2024 and unaudited full year results
    27.02.2025 January results
    05.03.2025 Audited results for 2024
    13.03.2025 February results
    24.04.2025 Q1 interim results
    08.05.2025 April results
    12.06.2025 May results
    24.07.2025 Q2 interim results
    14.08.2025 July results
    11.09.2025 August results
    23.10.2025 Q3 interim results
    13.11.2025 October results
    11.12.2025 November results

    Bigbank AS (www.bigbank.eu), with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 30 November 2024, the bank’s total assets amounted to 2.7 billion euros, with equity of 271 million euros. Operating in nine countries, the bank serves more than 150,000 active customers and employs over 500 people. The credit rating agency Moody’s has assigned Bigbank a long-term deposit rating of Ba1, as well as a baseline credit assessment (BCA) and adjusted BCA of Ba2.

    Argo Kiltsmann
    Member of the Management Board
    Tel: +372 53 930 833
    Email: Argo.Kiltsmann@bigbank.ee 
    www.bigbank.ee

    The MIL Network –

  • MIL-OSI: Form 8.3 – [INTELLIGENT ULTRASOUND GROUP PLC – Opening Disclosure – 19 12 2024] – (CGAML)

    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: CANACCORD GENUITY ASSET MANAGEMENT LIMITED (for Discretionary Clients)
    (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.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 INTELLIGENT ULTRASOUND GROUP PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure

    19 DECEMBER 2024
    (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: 1p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 13,771,400 4.2090    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 13,771,400 4.2090    

    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
    NONE      

    (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
    NONE        

    (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
    NONE              

    (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)
    NONE      

    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: 20 DECEMBER 2024
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    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: Celebrate the Holidays with BTCC Exchange’s Christmas & New Year Bash: 1,000,000 Gold Coins Up for Grabs

    Source: GlobeNewswire (MIL-OSI)

    VILNIUS, Lithuania, Dec. 20, 2024 (GLOBE NEWSWIRE) — BTCC is spreading holiday cheer with its Christmas & New Year Bash, an exciting trading campaign running from December 19, 2024 to January 12, 2025. Traders can earn gold coins by trading select future pairs or making deposits, and the gold coins can be exchanged for trading fund rewards.

    As Bitcoin’s price recently surpassed the $100,000 milestone and optimism sweeps the market, trading volumes are surging. BTCC Exchange’s holiday campaign comes at the perfect time, allowing users to capitalize on market opportunities while enjoying rewards that help lower trading costs.

    Meme coins like PEPE, SHIB, and FLOKI have been making waves, and BTCC is encouraging users to trade these pairs to earn gold coins. Other popular trading pairs, including ADA/USDT and SAND/USDT, are also available in the campaign. Traders achieving a daily trading volume of at least 1,000 USDT can earn gold coins for consecutive daily trades, with up to 200 coins available for a daily trading streak of 24 days.

    Additionally, deposits of 1,000 USDT or more can earn users 60 coins per deposit, with a maximum of 5,000 coins available per user. The gold coins earned can be exchanged for trading fund rewards which can cover trading losses, trading fees, and funding fees when trading perpetual futures.

    “December has been a record-breaking month for BTCC in trading volume, and this campaign is our way of giving back to our loyal users,” said Alex, Head of Operations at BTCC Exchange. “The Christmas & New Year Bash rewards users while helping them make the most of this exciting period in the crypto market.”

    With Bitcoin approaching its 16th anniversary and BTCC soon celebrating 14 years as one of the longest-running exchanges in 2025, this campaign underscores BTCC’s commitment to providing rewarding experiences for its users.

    About BTCC

    Founded in 2011, BTCC is one of the world’s longest-serving cryptocurrency exchanges. Known for its secure, user-friendly, and innovative trading environment, BTCC remains a trusted platform for millions of crypto traders globally.

    Join the Christmas & New Year Bash campaign: https://www.btcc.com/market-promotion/bonus2/earnXmas/en-us

    Contact: press@btcc.com

    The MIL Network –

  • MIL-OSI: 41/2024・Trifork Group AG announces agreement on partial divestment of a Trifork Labs portfolio company

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 41 / 2024
    Schindellegi, Switzerland – 20 December 2024

    Trifork announces agreement on partial divestment of a Trifork Labs portfolio company

    The shareholders of a portfolio company in Trifork Labs have today entered into an agreement to divest 30% of the existing shares to an equity fund investor. Trifork has participated pro-rata and will continue as a minority shareholder in the company.

    Financial impact of the partial sale for Trifork
    The undisclosed transaction valuation exceeds the book value of the company previously recorded in Trifork Labs and therefore has a material positive impact on both realized and unrealized gains recorded in Trifork Labs. The transaction will contribute with a financial gain of EURm 9.6 in Q4 2024. More information about the transaction and its impact on Trifork Group will be shared in the Annual Report 2024.

    Comment from Jørn Larsen, CEO of Trifork Group
    “I am happy to see that Trifork Labs continues to build on its outstanding investment track record in disruptive technology innovators early in their entrepreneurial journeys. Trifork Labs has historically contributed to funding the Group’s investments in organic growth and acquisitions. Looking at our existing portfolio, we are confident that more success stories will emerge in the future, ensuring strong value creation for Trifork Group’s shareholders over time.”

    Contact
    Frederik Svanholm, Group Investment Director & Head of IR
    frsv@trifork.com, +41 79 357 7317

    About Trifork Group  
    Trifork is a pioneering global technology partner that empowers enterprise and public sector customers with innovative solutions. With 1,278 professionals across 76 business units in 15 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

    About Trifork Labs
    Trifork Labs leads the venture-financed R&D activities of the Trifork Group. Trifork Labs has been active in founding, co-founding, and investing in innovative B2B software companies for more than 20 years. Today, the portfolio consists of 25 companies from around the world. Previous successful exits include global successes such as Chainalysis, Tradeshift, and Humio. By centering innovation efforts around companies founded either by Trifork’s own employees or externally by customers, partners, or entrepreneurs, the Group learns about new technologies and new possibilities of software while providing portfolio companies access to Trifork’s technical support, commercial experience, global customer base, investor network, and capital. Learn more at labs.trifork.com.

    Attachment

    The MIL Network –

  • MIL-OSI: Paytora Launches All-in-One Platform for Instant Crypto Conversion and Financial Simplification

    Source: GlobeNewswire (MIL-OSI)

    Vancouver, Canada, Dec. 20, 2024 (GLOBE NEWSWIRE) — Paytora, an all-in-one digital banking platform that aims to revolutionize how users manage their funds, has introduced more flexible financial tools. The ambitious project partnered with leading financial providers to enable seamless conversion of crypto  to fiat currencies (EUR or USD), giving users immediate access to funds with integrated card services.

    Crypto-to-fiat transactions have a reduced adoption rate for generally the same reasons, regardless of service providers. They require users to have separate crypto wallets and often take precious time to process. Paytora seeks to solve these issues by allowing users to make instant conversions from USDT to EUR or USD without the need for another crypto wallet. It also lets them utilize the funds immediately for withdrawals and international transfers.

    Each Paytora user receives a personal European IBAN account under their name. The account comes with full banking functionality similar to traditional bank accounts but with enhanced financial management options. Users can instantly access funds via virtual or physical MasterCard-branded cards and use them globally.

    The Paytora app supports fast and easy international transfers with zero fees and real-time rates for any currency. Users can choose to link bank accounts, debit/credit cards, or digital accounts to send money to anyone, even if the receiving party doesn’t have the app. Peer-to-peer money transfers between Paytora users are instant. Additional options for quick P2P transfers include splitting bills and sending gifts.

    Users can also opt for a physical LifeUp card, which they can use anywhere and anytime for instant transactions with minimal fees. For example, transactions of up to 25 EUR incur zero fees, while exchange fees reach only 2%. Users can also connect these cards to Apple Pay, Google Pay, or MasterCard for seamless transactions and SEPA or SWIFT transfers. The cards feature high-security encryption and contactless technology that keep the users’ assets safe regardless of where they use them.

    Paytora delivers a unique outlook on financial management, hassle-free onboarding, and a user-friendly experience. Obtaining a Paytora account takes less than a minute, allowing users to gain swift access to the platform and deposit funds immediately. The app requires passing a one-time KYC process that ensures compliance and unmatched security. Additionally, Paytora uses advanced encryption and abides by strict regulatory standards, including AML (Anti-Money Laundering), to guarantee optimal protection for the user’s funds and data.

    The Paytora app has a user-centric design, displaying a friendly layout and quick navigation features. The platform caters to all individuals looking for seamless USDT and fiat transactions, regardless of technical expertise. To this end, deposits are readily available via bank transfers, PayPal, credit/debit cards, and cryptocurrency transfers. Lastly, Paytora provides excellent customer support, which is available 24/7. The platform also employs a consumer education policy, ensuring users understand the products, services, and associated risks. This approach aligns with the project’s mission to promote financial literacy, transparency, and trust. 

    About Paytora

    Paytora proposes a simpler, more accessible financial oversight. Users only require a personal European IBAN and a digital wallet. The platform provides a user-friendly, easy-to-navigate dashboard for quick deposits, withdrawals, and efficient financial management. Furthermore, Paytora integrates virtual and physical MasterCard-branded cards for instant global transactions and crypto-to-fiat conversions.

    Paytora is available in the Apple Store and on Google Play. 

    You can visit Paytora at its official website or follow the platform on its dedicated social media channels: X (Twitter) |LinkedIn | Instagram | Facebook 

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

    The MIL Network –

  • MIL-OSI: BitMart Research: BMX 2024 Annual Report

    Source: GlobeNewswire (MIL-OSI)

    Singapore, Dec. 20, 2024 (GLOBE NEWSWIRE) — Recently, BitMart released the BMX 2024 Annual Report.

    1. 2024 Crypto Market Review

    At the beginning of the year, capitalizing on the momentum generated by the previous year’s bull market, BTC achieved a peak price of $73,881 in March. Nevertheless, despite the occurrence of its halving event in April, the market did not transition into a sustained upward trajectory. Instead, it underwent a significant decline in June, resulting in an extended period of adjustment. The primary catalysts in the first half of the year included the approval of an ETF for both Bitcoin and Ethereum, as well as the halving event. While the introduction of the ETF attracted institutional investment and enhanced the recognition of cryptocurrency assets within traditional financial markets, the halving event, despite lacking immediate positive impacts, is anticipated to substantially increase the value of Bitcoin over the long term. The market correction observed in June was precipitated by numerous factors, including Japan’s interest rate hikes, developments surrounding the Mt. Gox compensation case, and the German government’s liquidation of crypto assets, which collectively heightened selling pressure and instigated market panic.

    In the latter half of the year, the cryptocurrency market experienced a resurgence of momentum. Expectations regarding interest rate cuts revitalized the market, while the election victory of Donald Trump contributed to a robust recovery, resulting in BTC prices exceeding the $100,000 threshold and reaching a new all-time high of $104,088. Consequently, the total market capitalization of cryptocurrencies and trading volumes witnessed significant increases. In this context, altcoins displayed strong performance, with substantial gains observed in SOL, ETH, XRP, and ADA across various sectors. Trump’s proposed policies — characterized by the easing of regulations, the establishment of national reserves, and the support of mining enterprises — emerged as central themes for market recalibration. This highlights the positive influence of clear regulatory frameworks in enhancing User confidence and fostering growth within the industry.

    In contrast to previous years, the participation of institutional users has begun to significantly reshape market dynamics. Bitcoin’s dominance has continued to strengthen, while Ethereum has encountered challenges to its previously monopolistic position due to competition from emerging blockchain technologies and its constrained value capture capabilities. Concurrently, the decline in the popularity of altcoins has facilitated the emergence of the MEME sector as a new focal point within the market. These developments indicate a discernible trend toward diversification within the cryptocurrency industry.

    2. BMX Market Performance

    Figure 1: Annual Changes in Exchange Platform Tokens’ Prices and Market Capitalizations

    (Data Source：CMC、CG)

     According to data from CoinMarketCap and CoinGecko, the prices and market capitalizations of platform tokens from major exchanges have exhibited an upward trajectory over the past year, although notable variations in performance have been observed. BMX experienced a price escalation of 57.9% accompanied by a market capitalization increase of 56.8%, culminating in a total market capitalization of $262 million, indicative of consistent growth. Generally, lower-market-cap tokens have experienced substantial benefits due to their smaller baselines, resulting in rapid growth. In contrast, higher-market-cap tokens have demonstrated stable growth, reflecting resilience albeit with comparatively slower rates of increase.

    It is worth noting that Trump’s presidency may lead to clearer crypto market regulations, potentially reshaping the global cryptocurrency landscape. This development could significantly impact the future of the crypto industry. The resignation of SEC Chairman Gary Gensler further signals a turning point for crypto enterprises previously targeted by SEC lawsuits. Centralized exchanges, long under SEC scrutiny, are likely to benefit substantially from this leadership change, potentially achieving significant progress in regulatory compliance.

     Figure 2: Comparison of Exchange Spot Average Daily Trading Volume and Circulating Market Capitalization Over the Past Year

    (Data Source：CMC、CG)

     According to data from CoinGecko, the circulating market capitalization of BMX currently amounts to $262 million, a figure that is significantly lower than that of other exchange platform tokens. However, BitMart has demonstrated an average daily spot trading volume of $803 million over the past year. A comparison of BMX’s market capitalization with BitMart’s daily trading volume reveals that the exchange’s trading activity exceeds the valuation of its platform token. Furthermore, both the market capitalization and price of BMX have experienced considerable growth over the last year. This trend indicates that, despite its relatively modest market capitalization, BMX is undergoing heightened market activity and demand, as the broader market gradually starts to acknowledge its potential value.

     3. BMX Burn Progress

    Figure 3: BMX Burn Progress Table

    In accordance with the repurchase mechanism detailed in the BMX whitepaper, BitMart executed the repurchase of approximately 5,672,978 BMX tokens in the year 2024, amounting to a total value of approximately $2,034,343. This series of repurchase initiatives underscores BitMart’s ongoing commitment and confidence in its platform token, BMX. By allocating a portion of its revenue generated from transaction fees towards these repurchases, BitMart has effectively decreased the circulating supply of BMX in the market, thereby contributing to its stability and scarcity.

     4. New Features and Activities for BMX in 2024

    Figure 4: New BMX Features in 2024

    In 2024, BMX introduced a series of new features that substantially enhanced its value and liquidity. The implementation of a staking feature enables users to obtain stable annual returns without facing any entry barriers, thereby attracting a larger number of long-term participants. Additionally, the small asset conversion feature addresses the issue of “dust” balances in user accounts, improving the utility of minor assets while expanding the practical use cases for BMX. Users can also benefit from transaction fee discounts and engage in various platform activities. Furthermore, the establishment of a P2P trading market has rendered BMX trading more adaptable, allowing users to conduct transactions using diverse payment methods, which, in turn, increases the liquidity and market demand for BMX. The listing of BMX on KuCoin signifies an important step in its expansion within the global market, drawing greater interest from users. Additionally, the introduction of the BMX Flash Sale feature has further elevated the exclusive benefits available to holders.

    The introduction of the stake-to-list feature has empowered BMX holders to make independent decisions regarding the listing of projects on BitMart, while also benefiting from shared transaction fees and additional advantages. This initiative fosters a sense of collective ownership, enhances decision-making authority, and provides users with control, growth opportunities, and shared responsibilities within the BitMart community.

    The recent enhancements to the BMX platform have significantly broadened its range of applications, offering users an increased array of opportunities for investment returns and active participation. With functionalities including staking, conversion, peer-to-peer trading, IEO, and stake-to-list mechanisms, the diverse features of BMX have substantially elevated its market appeal and liquidity. These improvements have not only enriched the user experience but have also contributed to the platform’s growth and adoption within the cryptocurrency market.

    Figure 5: New BMX Activities in 2024

    In 2024, BMX implemented several strategic initiatives that significantly enhanced its market appeal and user engagement. These initiatives encompassed trading competitions, external collaborations, and community-building programs. The trading competitions incentivized a substantial influx of participants, thereby increasing the liquidity of BMX. External collaborations not only served to promote BMX but also elevated the visibility of related projects. The community-building program recognized and rewarded active members, while also providing essential traffic support. Collectively, these initiatives not only broadened the applications of BMX but also improved its liquidity and market influence. Through this program, BMX fostered user retention, attracted a greater number of dedicated users and community contributors, and bolstered its market activity and long-term growth potential.

    5. BMX Value Benefits

    – Higher Account Levels and Trading Fee Discounts: BMX holders are eligible for higher account levels and better trading fee rates. The more BMX a user holds, the greater the discount they receive.

    – Higher Copy Trading Profit Share: BMX holders qualify for a higher percentage of copy trading profit sharing.

    – Participation in Launchpad: BMX holders can participate in BitMart’s exclusive Launchpad and receive free airdrops of newly listed tokens.

    – VIP Membership Upgrade Criteria: BitMart offers a lifetime VIP membership plan, and holding BMX is one of the criteria for upgrading.

    – Stake-to-List: Users can stake BMX to support their favorite projects and earn rewards.

    – Participation in BitMart Products: Users can stake BMX to participate in various products offered by BitMart and earn higher interest rates.

    – Ecosystem Payment Token: BMX can be used as a payment token for projects within the BitMart ecosystem.

    – Holding Trading Rebate: Invite friends to hold and trade BMX to earn rebates.

    Risk Warning:

    Use of BitMart services is entirely at your own risk. All crypto investments, including earnings, are highly speculative in nature and involve substantial risk of loss. Past, hypothetical, or simulated performance is not necessarily indicative of future results.

    The value of digital currencies can go up or down and there can be a substantial risk in buying, selling, holding, or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment objectives, financial circumstances, and risk tolerance. Investing involves risks, and the content should be approached with caution. BitMart does not provide any investment, legal or tax advice.

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.  

    The MIL Network –

  • MIL-OSI: Serstech recruits new Chief Commercial Officer

    Source: GlobeNewswire (MIL-OSI)

    Niclas Ekström will join Serstech as Chief Commercial Officer on March 24, 2025.
     
    Niclas has more than 25 years of experience in international sales and commercial leadership roles as Marketing Director, Product Director, Head of Sales and Managing Director. He has a MSc degree in business administration and economics and will be a member of the senior management team of Serstech.
     
    “I’m excited to welcome Niclas to Serstech and our management team. With his solid background and experience, Niclas will bring invaluable expertise to Serstech”, says Stefan Sandor, Serstech CEO.

    For further information, please contact:
    Stefan Sandor,
    CEO, Serstech AB Phone: +46 739 606 067
    Email: ss@serstech.com

    or

    Thomas Pileby,
    Chairman of the Board, Serstech AB Phone: +46 702 072 643
    Email: tp@serstech.com
    or visit: www.serstech.com

    Certified advisor to Serstech is Svensk Kapitalmarknadsgranskning AB (SKMG).
     
    About Serstech
    Serstech delivers solutions for chemical identification and has customers around the world, mainly in the safety and security industry. Typical customers are customs, police authorities, security organizations and first responders. The solutions and technology are however not limited to security applications and potentially any industry using chemicals of some kind could be addressed by Serstech’s solution. Serstech’s head office is in Sweden and all production is done in Sweden.

    Serstech is traded at Nasdaq First North Growth Market and more information about the company can be found at www.serstech.com

    The MIL Network –

  • MIL-OSI: Foresight Ventures Latest Research Dissects Story’s Revolutionary Protocol for AI-Driven IP Economy

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Dec. 20, 2024 (GLOBE NEWSWIRE) —

    Foresight Ventures, a global leading Venture Capital in Web3 and blockchain, has unveiled its latest research report on Story, highlighting its transformative potential in building a decentralized ecosystem for managing intellectual property (IP). The research delves into how the protocol enables trustless IP management, automated licensing, and dynamic royalty systems, fostering an AI-driven IP economy that redefines digital creativity and collaboration.

    Revolutionizing the IP Landscape

    Story recently introduced the Agent Transaction Control Protocol for Intellectual Property (ATCP/IP), a groundbreaking framework enabling the seamless and autonomous exchange of IP on-chain. By integrating programmable licensing terms, royalty automation, and dispute resolution mechanisms, it provides a scalable, trustless infrastructure for creators and innovators.

    “Story is more than a blockchain; it’s an operating system for decentralized creativity,” said Maggie Wu, Research Lead at Foresight Ventures. “Its ability to empower creators with scalable, automated, and transparent IP tools is a paradigm shift in how we view and manage intellectual property globally.”

    Pioneering the AI Economy

    A key highlight of the research is Story’s role in bridging blockchain technology with the growing AI ecosystem. The ATCP/IP framework allows AI agents to autonomously manage, license, and trade datasets, outputs, and algorithms, facilitating collaboration and innovation at an unprecedented scale.

    “AI and blockchain are converging to reshape how we manage and transact value,” said Forest Bai, Co-founder of Foresight Ventures. “Story stands out by enabling a frictionless marketplace for intellectual property, empowering creators while fostering sustainable innovation through trustless systems.”

    Real-World Applications and Future Potential

    Story’s applications extend beyond intellectual property to address broader market needs. From tokenized real-world IPs like Bored Ape Yacht Club to royalty-based financial derivatives, its modular framework provides robust solutions for creators and enterprises. Its AI integration further amplifies its scalability, enabling decentralized knowledge economies to thrive.

    For more details of the research, users can visit this LINK.

    About Foresight Ventures

    Foresight Ventures is the first and only crypto VC bridging East and West. With a research-driven approach and offices in the US and Singapore, they are a powerhouse in crypto investment and incubation. Their premier media network includes The Block, Foresight News, BlockTempo, and Coinness. The team aggressively invest in the most daring innovations. They are dedicated to partnering with visionary projects and top teams to help them succeed, reshaping the future of digital finance and beyond.

    For more information, users can visit: Website | Twitter | LinkedIn | Discord | Linktree

    Contact

    PR team

    Foresight Ventures

    media@foresightventures.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dac580f8-8c12-4c67-8160-89c64194c36f

    The MIL Network –

  • MIL-OSI: Canadian Nuclear Laboratories and Karlsruhe Institute of Technology to Collaborate on Fusion, Materials and Hydrogen Science & Technology

    Source: GlobeNewswire (MIL-OSI)

    CHALK RIVER, Ontario, Dec. 20, 2024 (GLOBE NEWSWIRE) — Canadian Nuclear Laboratories (CNL), Canada’s premier nuclear science and technology organization, is pleased to announce that it has signed an agreement with the Karlsruhe Institute of Technology (KIT), Germany’s premier research institution, to pursue collaborative research related to fusion, materials characterization and hydrogen science and technology. With shared scientific missions to address national priorities in clean energy and environmental sciences, the agreement serves as a framework through which the national research organizations can collaborate in areas of mutual interest, leveraging their individual resources, facilities, and expertise.

    According to terms of the agreement, the organizations will explore collaborative research projects in fields that include tritium analytics, tritium barriers and surface analysis, tritium fuel cycle optimization, characterization and metallurgy of irradiated materials, and hydrogen safety. Working together, the organizations hope to realize important progress in the advancement of these fields of research and others, which are priorities to both country’s domestic clean energy research programs.

    “CNL is a world leader in nuclear science and technology, including hydrogen. We are now working to re-establish ourselves in fusion, which is yielding some very exciting commercial opportunities, and drawing the attention of other leading research organizations who share our goals in clean energy,” commented Dr. Stephen Bushby, CNL’s Vice-President of Science and Technology. “With the signing of this agreement with the Karlsruhe Institute of Technology, a leading German research institution that has complementary capabilities, CNL continues to expand its network and pursue even more ambitious collaborative research. By working together, I think we can help to accelerate these promising fields of study and contribute to much-needed progress in clean energy.”

    “With fusion taking momentum all around the world, Germany investing substantial amounts to promote the cooperation between National Labs and private actors in the field, and KIT being at the centre of fusion technologies and materials development in Germany and in Europe, it is quite straightforward for us to engage in an international cooperation that offers plenty of opportunities for world-leading developments, e.g., in the fusion fuel cycle, hydrogen, and materials areas,” said Dr. Klaus Hesch, Head of KIT´s Fusion Programme. “CNL´s tritium expertise derived from decades of scientifically-technically accompanying and enabling the operation of the CANDU reactors perfectly complements the experience we have acquired in our Tritium Laboratory Karlsruhe with regard to tritium handling and processing for fusion. There is interest to extend the cooperation both towards other fusion companies as well as to the European Fusion Programme.”

    CNL has decades of experience and expertise in materials characterization, hydrogen production, safety and storage, and tritium research, among other related fields of research. The Chalk River campus is also home to a state-of-the-art Tritium Facility and a Hydrogen Isotopes Technology Laboratory, as well as a rapidly growing fusion energy program. Not only did CNL recently announce the expansion of two of its flagship clean energy programs to include fusion – its advanced reactor siting program and the Canadian Nuclear Research Initiative (CNRI) – but CNL also invested $10 million into General Fusion, an international leader in commercial fusion energy. This is in addition to the launch of a new joint venture with Kyoto Fusioneering known as Fusion Fuel Cycles Inc. (FFC), which is moving forward with a globally unique test facility available to industry to test and refine their unique processes.

    All of these projects, programs and resources are complemented by those at KIT, which serves as one of the largest science institutions in Europe, with over 5,000 people conducting research on a broad range of disciplines, from natural sciences to engineering. KIT is also home to research centers that focus on problems of fundamental importance to the existence and further development of society, and on key issues resulting from the striving for knowledge, which includes climate and environment, energy, materials in technical and life sciences, and elementary particle and astroparticle physics, among others. With the agreement now serving as a framework to facilitate collaborative research activities, both organizations believe that it could also act as a first step towards a broader relationship that expands into other fields of research.

    If you’d like to learn more about CNL or its projects in clean energy and environmental sciences, please visit www.cnl.ca. For more information on KIT and its programs of work, please visit www.kit.edu.

    About CNL

    As Canada’s premier nuclear science and technology laboratory and working under the direction of Atomic Energy of Canada Limited (AECL), CNL is a world leader in the development of innovative nuclear science and technology products and services. Guided by an ambitious corporate strategy known as Vision 2030, CNL fulfills three strategic priorities of national importance – restoring and protecting the environment, advancing clean energy technologies, and contributing to the health of Canadians.

    By leveraging the assets owned by AECL, CNL also serves as the nexus between government, the nuclear industry, the broader private sector and the academic community. CNL works in collaboration with these sectors to advance innovative Canadian products and services towards real-world use, including carbon-free energy, cancer treatments and other therapies, non-proliferation technologies and waste management solutions.

    To learn more about CNL, please visit www.cnl.ca.

    About KIT

    Being “The Research University in the Helmholtz Association”, KIT creates and imparts knowledge for the society and the environment. It is the objective to make significant contributions to the global challenges in the fields of energy, mobility, and information. For this, about 10,000 employees cooperate in a broad range of disciplines in natural sciences, engineering sciences, economics, and the humanities and social sciences. KIT prepares its 22,800 students for responsible tasks in society, industry, and science by offering research-based study programs. Innovation efforts at KIT build a bridge between important scientific findings and their application for the benefit of society, economic prosperity, and the preservation of our natural basis of life. KIT is one of the German universities of excellence.

    To learn more about KIT, please visit www.kit.edu.

    CNL Contact:
    Philip Kompass
    Director, Corporate Communications
    1-866-886-2325
    media@cnl.ca

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2147c02c-0c21-421c-8a37-e6f279aeb3ea

    The MIL Network –

  • MIL-OSI: Wall Street Pepe Raises $32M in Presale for New Trading Insights Ecosystem

    Source: GlobeNewswire (MIL-OSI)

    LUZERN, Switzerland, Dec. 20, 2024 (GLOBE NEWSWIRE) — Wall Street Pepe (WEPE), a new crypto project combining meme coin culture with trading tools, has raised $32 million during its ongoing presale.

    The project aims to offer retail traders market insights, trading signals, staking features, and a community-driven trading reward program.

    WEPE Token Presale: Early Staking Rewards

    Since its December 3 launch, the Wall Street Pepe presale has attracted attention. WEPE tokens are priced at $0.000365 during the current presale stage and can be purchased directly on the project’s website with crypto or card payments.

    According to Wall Street Pepe’s whitepaper, the team has allocated 20% of the 200 billion token supply to early buyers. Early buyers can also stake their WEPE tokens for rewards before the official launch. Staking rewards will be distributed over three years, with 3,044 WEPE tokens released per Ethereum block.

    https://twitter.com/WEPEToken/status/1869776758599303548

    Although the team has not set a hard cap or end date for the presale, their roadmap suggests an exchange listing is in the works for shortly after it concludes. Investors can also claim their purchased WEPE tokens once the presale ends.

    Updates on Wall Street Pepe’s presale and future developments are shared through X (formerly Twitter) and Telegram.

    Wall Street Pepe Introduces “WEPE Army” to Empower Retail Traders

    Wall Street Pepe is creating an ecosystem to provide retail traders with enhanced tools and resources. At the center of this ecosystem is the “WEPE Army” – an exclusive group where token holders can access trading signals, real-time market updates, and insights into new projects.

    The developers’ approach focuses on providing accessible trading knowledge. They will also host regular trading competitions with WEPE token rewards.

    To boost trust, Wall Street Pepe has also been audited by the team at Coinsult. Their audit found no issues with WEPE’s smart contracts or code.

    Wall Street Pepe’s mix of meme coin appeal and practical trading applications has drawn attention in the broader crypto community. For example, the project was recently featured in an analysis video from 99Bitcoins.

    About Wall Street Pepe (WEPE)

    Wall Street Pepe is a new cryptocurrency project that combines meme coin elements with a trading insights ecosystem for retail investors. The ecosystem integrates trading signals, educational resources, and competitions.

    Readers can visit the Wall Street Pepe presale here.

    Website: https://wallstreetpepe.com/

    Contact

    Wall Street Pepe

    https://wallstreetpepe.com/ 

    info@wallstreetpepe.com 

    The MIL Network –

  • MIL-OSI: MultiversX Foundation Launches AI-Focused Growth Games, a $1.5M Initiative to Accelerate Blockchain and AI Innovation

    Source: GlobeNewswire (MIL-OSI)

    • MultiversX Foundation introduces a $1.5M annual grants program to drive innovation at the intersection of blockchain and AI, two of the biggest technologies of recent years.
    • The program provides milestone-based funding focused on ecosystem activation, expansion and growth.

    VADUZ, Liechtenstein, Dec. 20, 2024 (GLOBE NEWSWIRE) — The MultiversX Foundation has announced the launch of Growth Games, a $1.5 million annual grants program aimed at driving innovation and adoption of blockchain-powered AI products and solutions, such as truth safeguards, highly capable and automated AI agents and more. As the official MultiversX grants program, Growth Games provides structured financial incentives, mentorship, and community engagement to empower developers to bring transformative ideas to life.

    With an annual budget of $1.5 million, Growth Games reflects MultiversX’s commitment to advancing blockchain technology adoption across multiple verticals and use cases. The program is designed to foster a dynamic developer community and promote innovation across critical verticals, including decentralized finance (DeFi), artificial intelligence (AI), infrastructure, and education.

    Growth Games is split into three distinct funding programs:

    • The Build pillar dedicates $750,000 annually to onboard new builders and teams from outside the ecosystem to create applications, tools, and infrastructure using MultiversX technology. By leveraging a Request for Proposal (RFP) model, this program invites innovative projects that enhance infrastructure, develop essential tools, and create impactful applications, The focus is to address critical gaps within the MultiversX ecosystem, enhancing its robustness and completeness.
    • Meanwhile, the Accelerate pillar sets aside $250,000 each year to focus on supporting teams already building within the MultiversX ecosystem, helping them enhance and scale their projects.
    • The final pillar of the program, the xLaunchpad and Co-incubation initiative, allocates $500,000 annually to support over 5 innovative projects, with each eligible for up to $100,000 in funding. In addition to financial support, participants benefit from mentorship, strategic advisory, marketing resources, and community engagement to ensure their success.

    Beyond financial support, Growth Games also drives engagement through hackathons and retroactive contributor grants, ensuring continuous innovation.

    “Growth Games presents an important acceleration milestone for MultiversX and the broader blockchain community,” said Beniamin Mincu, Co-Founder of MultiversX. “This $1.5 million initiative is a call to innovators and builders to build, accelerate, and launch the products that will make our lives better. ”

    To ensure accountability and impact, applications to Growth Games will be evaluated by a dedicated review committee, funding will be distributed based on clear milestones, and recipients will provide regular progress reports detailing their KPIs, achievements, and challenges. This transparent process ensures that every dollar invested contributes to meaningful advancements within the ecosystem.

    Growth Games marks a significant milestone for MultiversX, showcasing its commitment to innovation and its ecosystem’s evolution. By offering $1.5 million in financial incentives and robust support, the program aims to propel blockchain development into a new era, empowering developers to solve complex challenges and redefine what is possible in decentralized technology.

    Applications are open, visit https://multiversx.com/growthgames

    About MultiversX

    MultiversX is a highly scalable public blockchain via sharding, decentralized through 3,200 validator nodes, built to solve the three fundamental problems critical for widespread, global adoption: transition from dial-up to broadband, consumer-friendly experience, and simplicity of self-custody.

    For more information, visit https://multiversx.com.

    Contact

    Alexandru Rus

    Head of Community & CS

    alexandru.rus@multiversx.com

    Disclaimer: This content is provided by MultiversX. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9e654142-ff3f-41c6-9431-261095ba18b0

    The MIL Network –

  • MIL-OSI: Volta Finance Limited – Net Asset Value(s) as at 30 November 2024

    Source: GlobeNewswire (MIL-OSI)

    Volta Finance Limited (VTA / VTAS)
    November 2024 monthly report

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

    Guernsey, December 20th, 2024

    AXA IM has published the Volta Finance Limited (the “Company” or “Volta Finance” or “Volta”) monthly report for November 2024. The full report is attached to this release and will be available on Volta’s website shortly (www.voltafinance.com).

    Performance and Portfolio Activity

    Dear Investors,

    Volta Finance achieved a net performance of +2.1% in November bringing the year-to-date return of the portfolio to +20.9%. Both our CLO Debt and our CLO Equity investments benefitted from a supportive macro backdrop and performed favorably.

    The US presidential elections were obviously the main event of the month, with Donald Trump securing a large and undisputed victory. His election boosted global markets despite the concerns about the potential implementation of a shift in US policies in the context of the geopolitical landscape (tariffs) as well as US domestic fiscal guidance. The dollar and US stocks rose sharply while Bitcoin hit all-time highs with a +90% YTD performance. US Treasuries yields also moved higher testing 4.45% and settling at around 4.2% as the CPI reports came broadly in-line with expectations.

    Credit markets were unsurprisingly much stronger over the month and fully benefited from the rally from the broader markets. High Yield indices in Europe (Xover) were roughly 15bps tighter in the +300bps context while US CDX High-Yield tightened by 40bps to +295bps. On the Loan side, Euro Loans closed slightly higher, 45 cents up at c. 98.00px (Morningstar European Leveraged Loan Index), while their US counterparts closed at 97.22px (up +32 cents). With returns of +20.9% Volta Finance continued to outperform broader Credit on a year-to-date basis: US High Yield returned +8.67%, Euro High Yield +7.93% and Global Loans +7.23% (SPLGAL).

    Primary CLO markets remained extremely busy, we recorded circa USD 62bn of issuance in the US and EUR 12bn in Europe. Spreads closed tighter across the capital structure as BB-rated tranches broke the +600bps resistance level in Europe, and tested sub +500bps in the US.

    Loan fundamentals showed no deviation from the path observed since the beginning of year with contained default rates under 1% and a stable proportion of CCC-rated Loans in CLO collateral portfolios (5% in US CLOs and 4% in Europe). Loan repayment rates kept on increasing at 28% in the US (+1% YoY growth rate of the Loan market) and 14% in Europe (+8% YoY market growth).

    The cashflow generation continued to be steady, highlighting the strength of Volta’s risk positioning. Over the last 6 month period, the cashflow generation was stable at c.€29m equivalent of interests and coupons, representing c.21% of November’s NAV on an annualized basis.

    Looking at Volta’s portfolio, two BB-rated debt tranches paid off at Par ($6.5m) with proceeds reinvested into New Issue US BB-rated CLO tranches. Additionally, c. $4m was reinvested across three CLO Equities and profits were taken on a short-dated European Equity to benefit from market strength and improve the portfolio’s maturity profile.

    Over the month, Volta’s CLO Equity tranches returned +2.3% performance** while CLO Debt tranches returned +1.3% performance**, cash representing c.3% of NAV. The fund being c.25% exposed to USD, the recent appreciation of USD vs EUR had a positive impact of +0.7% on the overall performance.

    As of end of November 2024, Volta’s NAV was €279.2m, i.e. €7.63 per share.

    *It should be noted that approximately 4.29% of Volta’s GAV comprises investments for which the relevant NAVs as at the month-end date are normally available only after Volta’s NAV has already been published. Volta’s policy is to publish its NAV on as timely a basis as possible to provide shareholders with Volta’s appropriately up-to-date NAV information. Consequently, such investments are valued using the most recently available NAV for each fund or quoted price for such subordinated notes. The most recently available fund NAV or quoted price was 0.21% as at 31 October 2024, 4.08% as at 30 September 2024.

    ** “performances” of asset classes are calculated as the Dietz-performance of the assets in each bucket, taking into account the Mark-to-Market of the assets at period ends, payments received from the assets over the period, and ignoring changes in cross-currency rates. Nevertheless, some residual currency effects could impact the aggregate value of the portfolio when aggregating each bucket.

    CONTACTS

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

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

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

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

    *****
    ABOUT VOLTA FINANCE LIMITED

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

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

    *****

    ABOUT AXA INVESTMENT MANAGERS
    AXA Investment Managers (AXA IM) is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with 2,700 professionals and €844 billion in assets under management as of the end of December 2023.  

    *****

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

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

    *****

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

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

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

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

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

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

    *****

    Attachment

    The MIL Network –

  • MIL-OSI: On 19 December 2024, the Estonian Financial Supervision and Resolution Authority (FSA) made a decision to issue a precept to Northern Horizon Capital AS based on an on-site inspection

    Source: GlobeNewswire (MIL-OSI)

    In May 2024, the Estonian FSA performed an on-site inspection, assessing the internal control system of Northern Horizon Capital AS and the implementation of measures to prevent and mitigate conflicts of interest. On 19 December 2024, the Estonian FSA issued a precept to Northern Horizon Capital AS, requiring it to improve some elements of its internal control processes and eliminate identified weaknesses.

    Northern Horizon Capital AS has cooperated with the Estonian FSA throughout the process and prepared an action plan in August 2024 to resolve the matters, based on which several weaknesses have already been eliminated.

    Lars Ohnemus, Chairman of the Supervisory Council of Northern Horizon Capital AS and Chairman of the Board of Northern Horizon Capital A/S (being a parent company of Northern Horizon Capital AS), commented:

    “Our commitment to good governance practices is fundamental and needless to say, we take guidance from the Estonian FSA seriously. It has been essential for us to make adjustments as swiftly as possible. The majority of points raised in the report have already been addressed, and we continue our efforts to strengthen our governance and internal control system as per the agreed plan.”

    For additional information, please contact:

    Tarmo Karotam
    Baltic Horizon Fund manager
    E-mail tarmo.karotam@nh-cap.com
    www.baltichorizon.com

    The Fund is a registered contractual public closed-end real estate fund that is managed by Alternative Investment Fund Manager license holder Northern Horizon Capital AS. 

    Distribution: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm, www.baltichorizon.com

    To receive Nasdaq announcements and news from Baltic Horizon Fund about its projects, plans and more, register on www.baltichorizon.com. You can also follow Baltic Horizon Fund on www.baltichorizon.com and on LinkedIn, Facebook, X and YouTube.

    The MIL Network –

  • MIL-OSI: Leishen Energy Holding Co., Ltd. Announces Closing of $5,500,000 Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    Beijing, China, Dec. 20, 2024 (GLOBE NEWSWIRE) — Leishen Energy Holding Co., Ltd. (the “Company” or “Leishen Energy”) (Nasdaq: LSE), a China-based provider of clean-energy equipment and integrated solutions for the oil and gas industry, today announced the closing of its initial public offering (the “Offering”) of 1,375,000 ordinary shares (“Shares”) at a public offering price of $4.00 per Share. The Shares began trading on the Nasdaq Capital Market on December 19, 2024, under the ticker symbol “LSE”.

    The Company received aggregate gross proceeds of $5,500,000 from this Offering, before deducting underwriting discounts and commissions and offering expenses payable by the Company. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 206,250 Shares at the public offering price, less the underwriting discount.

    The Company intends to use the net proceeds of the Offering for the construction of a high-tech manufacturing industrial park in the Nanjing Lishui High-tech Development Zone, PRC, for the establishment of its smart manufacturing and new energy R&D center, for the purchase of business equipment and other patented technologies, to strengthen and expand our presence in the PRC Southwest oil and gas market, and to bolster its working capital.

    The offering was conducted on a firm commitment basis. Dominari Securities LLC acted as lead underwriter and Revere Securities LLC as co-underwriter (collectively, the “underwriters”) for the Offering. Sichenzia Ross Ference Carmel LLP acted as U.S. counsel to the Company for the Offering, and VCL Law LLP acted as counsel to the underwriters in connection with the Offering.

    The Shares described above are offered by the Company pursuant to a registration statement on Form F-1, as amended (File Number: 333-282433), that was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on December 18, 2024. The Offering was made only by means of a prospectus, forming a part of the effective registration statement. A copy of the final prospectus relating to the Offering may be obtained from Dominari Securities LLC, 725 Fifth Avenue, 23rd Floor New York, NY 10022, Attention: Eric Newman, or by calling (212) 393-4500 or emailing info@dominarisecurities.com or by logging on to the SEC’s website at www.sec.gov.

    Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offers, solicitations or sales would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Any offers, solicitations, or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

    About Leishen Energy Holding Co., Ltd.

    The Leishen Group was founded in 2007 and is a China-based provider of clean-energy equipment and integrated solutions for the oil and gas industry, with a commitment to providing customers with high-performance, safe and cost-effective energy solutions. Our major lines of business include (i) sale of clean-energy industry; (ii) new energy production and operation; (iii) digitalization and integration equipment; and (iv) oil and gas engineering technical services. At present, the Group holds more than 70 patents and software copyrights, forming a comprehensive ecosystem of core technical capabilities. Currently, our business operations have expanded beyond the PRC to Central Asia, and Southeast Asia, and our service abilities and quality have been widely recognized and praised by foreign customers. Efficient, safe and energy-saving equipment combined with professional technical services have enabled our brand to gain positive attention and recognition from our customers and enabled us to become a well-known equipment and services provider in the oil and gas industry. For more information, please visit the Company’s website: www.r-egroup.com.

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company’s share offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the offering will be successfully completed. Investors can find many (but not all) of these statements by the use of words such as “aim”, “anticipate”, “believe”, “estimate”, “expect”, “going forward”, “intend”, “may”, “plan”, “potential”, “predict”, “propose”, “seek”, “should”, “will”, “would” or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

    For more information, please contact:

    Leishen Energy Holding Co., Ltd.

    Investor Relations Department

    Email: ir@r-egroup.com

    The MIL Network –

  • MIL-OSI: Unaudited Half-Yearly Financial Report

    Source: GlobeNewswire (MIL-OSI)

    FORESIGHT VENTURES VCT PLC
    (FORMERLY THAMES VENTURES VCT 1 PLC)

    Unaudited Half-Yearly Financial Report
    30 September 2024

    FINANCIAL HIGHLIGHTS

    £72.7m
    Total net assets
    as at 30 September 2024

    1.1p
    Dividend paid
    26 July 2024

    42.1p
    NAV per share
    as at 30 September 2024

    CHAIR’S STATEMENT

    “I present the Company’s unaudited Half-Yearly Financial Report for the six months ended 30 September 2024.”

    Post-period activity
    Before discussing the period to 30 September 2024, I would like to welcome our new Shareholders who have been issued shares in the Company as part of the merger with Thames Ventures VCT 2 plc (“TV2”). The merger completed on 15 November following a General Meeting held on 8 November. As part of the merger, the Company has been renamed Foresight Ventures VCT plc, and TV2 has been placed into members’ voluntary liquidation. I am also pleased to welcome Andrew Mackintosh, previously a director of TV2, who has now been appointed to the Board of the Company following completion of the merger.

    The Company’s Net Asset Value (“NAV”) per share has been reset to 100.0p and the merger has resulted in an enlarged company with net assets of £110 million. The Board believes this will bring a number of benefits to the Company, such as greater scale to raise and deploy capital into new and existing portfolio companies, as well as improved liquidity for dividends and buybacks.

    On 15 November, the Company launched an offer for subscription to raise £5 million (with an over-allotment facility of a further £5 million). The promoter’s fee will be waived for applications made by existing shareholders of any Foresight VCT. New investors, who do not benefit as existing investors but who make an application by 20 December 2024, will, however, benefit from the offer costs being reduced by 1.0% of the amount subscribed.

    Net Asset Value and dividends
    As at 30 September 2024, the Company’s NAV per share stood at 42.1p, a decrease of 4.0p (or 8.7%) over the period. After adding back the dividend paid in the period of 1.1p per share, the decrease was 6.3%.

    The Company’s policy is to seek to pay annual dividends of at least 4% of net assets per annum. During the period, on 26 July 2024, the Company paid an interim dividend of 1.1p, taking total dividends paid in respect of the year ended 31 March 2024 up to 2.1p per share, equivalent to 4.1% of the opening net assets of the previous financial year. This took the total dividends paid since the merger with Downing Absolute Income VCT 1 plc, Downing Absolute Income VCT 2 plc, Downing Income VCT plc, Downing Income VCT 3 plc and Downing Income VCT 4 plc in November 2013 to 47.6p per share.

    The Company offers its Shareholders the opportunity to participate in a Dividend Reinvestment Scheme, whereby they may elect to receive shares, credited as fully paid, instead of receiving dividends in cash. If you wish to participate, please contact the registrar, City Partnership, at the details provided on page 30 of the Unaudited Half-Yearly Financial Report.

    Investment performance and portfolio activity
    A detailed analysis of the investment portfolio performance over the period is given in the Investment Adviser’s Review.

    In brief, during the six months under review, the whole portfolio showed investment valuation losses of £9.4 million. Despite this disappointing overall performance, there were some highlights; a total of £2.9 million of proceeds were received from the sale of Data Centre Response Limited, as well as deferred consideration totalling £0.6 million, producing realised gains of £2.2 million. The Investment Adviser also completed two follow-on investments totalling £1.1 million.

    Responsible investing
    The Board notes the commitment of the Investment Adviser, Foresight Group, to being a “Responsible Investor”. Foresight places environmental, social and governance (“ESG”) criteria at the forefront of its business and investment activities in line with best practice and in order to enhance returns for their investors.

    Further detail can be found on page 17 of the Unaudited Half-Yearly Financial Report.

    Special administration of the Company’s custodian of quoted assets
    As previously reported, since September 2020 the Company has used IBP Capital Markets Limited (“IBP”) as custodian for its quoted investments. Appointing a custodian is a requirement of the FCA, and IBP is an FCA authorised and regulated wholesale broker, providing custody services and access to equity and fixed income securities for non-retail clients (which includes the Company).

    On 13 October 2023, the FCA published a supervisory notice under section 55L(3)(a) of the Financial Services and Markets Act 2000, imposing certain restrictions on IBP. On the same date, IBP applied to the High Court and special administrators were appointed.

    As noted in the Annual Report, on 19 July 2024, around 80% of the quoted investment portfolio was returned to the Company, meaning normal management and trading of these positions was resumed. The remaining 20% will be returned following the conclusion of court proceedings, the timing of which is currently anticipated to take place in the second half of 2025, unless additional claims are submitted or the outcome of the court proceedings in terms of a final distribution is any different. The Company will communicate with Shareholders if there is any new information which materially impacts the numbers presented in this report.

    Share buybacks
    The Company continues to operate a policy of buying in its own shares that become available in the market at a 5% discount to NAV (subject to liquidity and regulatory restrictions). Subsequent to the merger, the Board intends to reduce this target discount to 2.5% in future.

    During the period the Company purchased 5,522,581 shares for cancellation at an average discount of 5.0%, which represented 3.1% of shares in issue at the date of the last Annual Report.

    Share buybacks are timed to avoid the Company’s closed periods. Buybacks will generally take place, subject to demand, during the following times of the year:

    • August, after the Annual Report has been published
    • September, prior to the Half-Yearly reporting date of 30 September
    • January, after the Half-Yearly Report has been published
    • March, prior to the end of the financial year

    The Company retains Panmure Liberum as its corporate broker to assist in operating the share buyback process and ensuring that the quoted spread on the Company’s shares remains at a reasonable level. Contact details for Panmure Liberum are on page 30 of the Unaudited Half-Yearly Financial Report.

    Management charges and performance incentive
    The annual management fee is an amount equal to 2.0% of net assets. There is no change to the management fee or secretarial fee post-merger. From 1 October 2024, the Investment Adviser took over responsibility for management of the Quoted Growth portfolio from Downing LLP. The team at Downing LLP continues to advise the Company on the Yield Focused portfolio under a subcontract agreement with Foresight Group LLP.

    A new performance incentive scheme was formally approved by Shareholders as part of the merger on 15 November 2024. This scheme, in brief, means a performance fee would be payable to the Investment Adviser at the end of each performance period, subject to a total return hurdle. The fee would be equal to the lesser of: (i) 20% of distributions attributable to the relevant performance period; or (ii) 20% of the increase in the total return which is higher than the hurdle. The Board believes this new scheme will provide additional motivation for the Investment Adviser to drive enhanced shareholder value.

    Board composition
    As noted in the Annual Report, Chris Kay resigned as a Director of the Company on 6 June 2024. Post period end, Andrew Mackintosh has joined the Board from TV2 subsequent to the merger. Andrew is chair of UKI2S, a government-backed venture capital fund supporting companies from the UK’s scientific research base. He is a Fellow of the Royal Academy of Engineering and was awarded a CBE in the 2024 New Year Honours for services to Science and Technology, and to Enterprise Development, and we are delighted to have him on board.

    The Board now comprises four Non-Executive Directors, which the Board considers to be an appropriate number for the current size of the VCT. All of the Directors are independent of the Investment Adviser, with the exception of Chris Allner who is considered non-independent by virtue of being a partner at Downing LLP, the previous investment adviser to the Company, which still provides some services to our new Investment Adviser.

    VCT sunset clause
    I am pleased to report that new regulations have been made to extend the UK’s VCT scheme by ten years to April 2035, following the European Commission’s confirmation that they would not oppose the continuation of the scheme. This now removes any recent uncertainty and will help support further investment by the VCT sector in early-stage companies.

    Outlook
    At the date of the merger the Company’s NAV per share had increased to 42.6p, as a result of valuation uplifts in the Quoted Growth portfolio, as well as favourable exchange rates on our US investments. With an offer for subscription now out to raise further funds, in addition to the cash boost on acquiring the assets of TV2, and a refreshed performance incentive scheme to greater motivate the Investment Adviser, we look forward to seeing an increase in deployment to enhance the portfolio and returns to Shareholders. Whilst the macroeconomic environment has been challenging for the last two years, the Investment Adviser is cautiously optimistic that 2025 will provide more positive conditions for our portfolio companies. The downward trajectory of inflation and interest rates should lead to increasing confidence and encourage investors to return to the market.

    Atul Devani
    Chair

    20 December 2024

    INVESTMENT ADVISER’S REVIEW

    “We present our Investment Adviser’s Review for the six‑month period ended 30 September 2024.”

    Unquoted Growth
    Portfolio summary
    At 30 September 2024, the Company held total unquoted investments of £44.4 million, split £34.5 million Unquoted Growth and £9.9 million Unquoted Yield Focused. Details of the Unquoted Yield Focused portfolio performance are set out on page 8 of the Unaudited Half-Yearly Financial Report.

    The Unquoted Growth portfolio comprises 29 companies, across a range of sectors. Following a challenging period for the year ended 31 March 2024, with the portfolio unfavourably impacted by the downturn of the UK economy, the six months ended 30 September 2024 has been similarly disappointing, resulting in an overall unrealised investment valuation loss of £2.2 million in the portfolio.

    Investment activity
    There were no new investments made during the period ended 30 September 2024. The Company made follow-on investments in two Unquoted Growth companies during the period, totalling £1.1 million:

    FundingXchange Limited (£750,000), a fintech platform delivering SME lenders insights into their portfolios. This investment was made concurrently with a £5.0 million investment from Barclays as part of a £6.0 million round. This transformational investment will allow the company to build on early commercial success and deepen the strategic and commercial relationship with Barclays.

    Rated People Limited (£375,000), an online marketplace connecting homeowners and local tradespeople. This investment allows the strengthened management team to implement the necessary product and operational changes to enable a return to growth and a cash-generative business model.

    There was one realisation during the period ended 30 September 2024:

    DSTBTD Limited (trading as Distributed) was sold for £1 to ILX Group. No proceeds were returned to the Company, which was a disappointing result for the team, but a favourable outcome to an administration process, which was a real possibility after a proposed funding failed to come together.

    Key portfolio developments
    There were some material write downs in the Unquoted Growth portfolio during the period, and some companies have continued to struggle in the challenging macroeconomic environment. However, there have also been some positive movements in valuation. This has resulted in a net total realised and unrealised investment valuation loss of £3.0 million in the period, including £0.7 million in unrealised foreign exchange losses.

    Of the total investment loss, total losses of £6.5 million were offset by gains of £3.5 million. The most significant movements are noted below.

    The largest gain in value was in Ayar Labs, Inc, a silicon photonic chiplet developer used in next-generation AI data centers of the major hyperscalers and cloud-service providers. The valuation increased by £1.9 million, including foreign exchange losses, as a result of a new funding round.

    Other unrealised valuation gains included:

    Rated People Limited, an online marketplace connecting homeowners and local tradespeople, increased in value by £596,000. This was due to a follow-on funding round enhancing the Company’s share of proceeds on any liquidity event. It is also worth noting that the company is now trading profitably and under new leadership.

    Carbice Corporation, Inc has developed a suite of products based on its carbon material, used primarily as thermal management solutions to enable greater thermal conductivity. The valuation increased by £401,000, including foreign exchange losses, as a result of the recent closure of a funding round that increases the prospect of growth and, ultimately, a positive realisation for investors.

    Four other companies in the Unquoted Growth portfolio made up investment valuation gains of £603,000.

    There were also a number of valuation losses reported in the period. The greatest loss was in Cambridge Touch Technologies Ltd, a company developing pressure sensitive multi-touch technology, which reduced in value by £1.9 million as a result of a challenging funding environment for deep tech companies. As noted above, DSTBTD Limited (trading as Distributed) was sold for £1 to ILX Group during the period. No proceeds were returned to the Company, resulting in a realised loss of £775,000.

    Other investment valuation losses included:

    Vivacity Labs Limited, a provider of Artificial Intelligence sensors to monitor and control traffic flows, was written down to nil value in the period, a decrease in value of £960,000, following a new funding round. The investment round (that we chose not to participate in) generated penal terms for shareholders not participating in the funding round and resulted in the write down.

    Masters of Pie Limited, developer of “Radical”, a software solution that enables remote sharing and collaboration on large data sets, was reduced by £700,000 as a result of a challenging period for the company from a trading perspective. It is hoped that this situation will improve in Q4 2024, albeit the position remains challenging.

    Virtual Class Ltd (trading as Third Space Learning), a platform offering personalised online lessons from specialist tutors, decreased in carrying value by £466,000, driven by significant budgetary pressure experienced by UK schools, a key customer group. It is hoped that early international sales (in the US) will somewhat offset challenges in the UK market.

    Parsable, Inc., a provider of software to improve operational efficiencies in the industrial and manufacturing sectors, has seen a valuation decrease of £460,000, including foreign exchange losses. During the period, an offer to acquire Parsable was received that, whilst at a valuation lower than we expected, was accepted by the Board, and the valuation has been aligned with anticipated proceeds.

    Bulbshare Limited, a company that enables brands to build communities from their existing customers to gather consumer insights, was exited post period end. The valuation was reduced by £371,000 in line with the exit proceeds received.

    Trinny London Limited, a multi-channel female beauty and skincare brand, was reduced in value by £354,000 due to a decline in comparable market valuation multiples. Despite this, the business increased revenue during the period and remains profitable.

    CommerceIQ, Inc., the pioneer in helping brands win on retail e-commerce channels, decreased by £221,000 in the period, including foreign exchange losses. Whilst CommerceIQ’s revenues increased during the period, market valuations for similar businesses declined and, consequently, the valuation fall is a reflection of wider market conditions.

    Four other companies in the Unquoted Growth portfolio made up valuation losses of £340,000. Aside from Vivacity Labs Limited, no other investments were written down to nil during the period.

    Post period end activity
    After the period end, the Company completed two new investments totalling £1.6 million into Dragonfly Technology Solutions Ltd (£600,000), a predictive analytics business, and Alison Technologies Ltd (£978,000), a developer of an innovative AI marketing insights tool. The Company also completed two follow-on investments totalling £1.1 million into Maestro Media Limited (£750,000) and Virtual Class Ltd (£300,000). The Company received £1.1 million in proceeds from the exit of Bulbshare Limited in October.

    At the date of the merger, the Unquoted Growth portfolio had seen positive foreign exchange movements totalling £421,000.

    Outlook
    Whilst the macroeconomic environment has been challenging for the last two years, we are cautiously optimistic that 2025 will provide more positive conditions for our portfolio companies. The downward trajectory of inflation and interest rates should lead to increasing confidence and encourage investors to return to the market. From an exit perspective, the IPO market is unlikely to open up in the short term, but we are seeing signs that PE and trade buyers will be more active in 2025, offering potential liquidity opportunities for portfolio companies.

    In addition to the anticipated improved macro environment, we believe the merger with Thames Ventures VCT 2 plc has created a company well placed for success, with a very clear investment mandate (exclusively investing in private technology businesses) and benefiting from more streamlined company reporting and administration.

    Foresight Group LLP
    20 December 2024

    Yield Focused portfolio
    Downing LLP continues to advise the Company on the Unquoted Yield Focused portfolio under a subcontract from Foresight Group LLP.

    Downing presents a review of the Yield Focused portfolio for the six months ended 30 September 2024. At the period end, the Yield Focused portfolio consisted of seven active investments, all of which are unquoted, with a total value of £9.9 million.

    Divestment activity
    During the period, the focus was on investment realisations from the Yield Focused portfolio, which resulted in proceeds of £2.9 million from the exit of Data Centre Response Limited, a provider of power solutions and maintenance services to data centres. There were no new or follow-on investments.

    Realisations in the period ended 30 September 2024

        Total Cost at date Exit Total
        invested of disposal proceeds return
    Company Detail (£) (£) (£) (£)
    Data Centre Response Limited Full disposal 557,441 557,441 2,916,694 2,916,694

    Key portfolio developments
    The Yield Focused portfolio reduced in value by £113,000 during the period, with one company, Data Centre Response Limited, recognising a gain of £494,000 on exit, as noted above, and four companies recognising unrealised losses of £607,000:

    Pilgrim Trading Limited, an operator and owner of two children’s nurseries in West London, decreased in value by £437,000 after two periods of unsuccessful marketing proved the last independent valuation of the business to be unachievable in current market conditions. Consequently, the independent valuation has now been heavily discounted.

    Kimbolton Lodge Limited, a nursing and care home in Bedfordshire, decreased in value by £67,000 to bring the valuation in line with the anticipated proceeds from a sale process that is currently underway.

    Doneloans Limited, which holds a portfolio of secured loans, decreased in value by £67,000 driven by the cost of its own funding marginally exceeding interest receivable from its borrowers.

    SF Renewables (Solar) Limited, which built and operates a solar plant in India, was reduced by £36,000 in line with the exit proceeds received post period end.

    Outlook
    With one exit during the period and another shortly after period end, there were six investments remaining in the Yield Focused portfolio at the time of writing. Downing is actively seeking to progress exits from both Kimbolton Lodge and Pilgrim Trading, though the latter is currently looking less likely to materialise. Given current market conditions, sales of the higher value, hotel-related investments, Baron House Developments and Cadbury House Holdings, are expected to take some time to complete. The recovery of value from Doneloans is linked largely to the sale of Pilgrim Trading, which is the lender’s largest loan, but additional recoveries are anticipated from other borrowers over the next 12 months.

    Downing LLP and Foresight Group LLP
    20 December 2024

    Quoted Growth portfolio
    For the six months to 30 September 2024, Downing LLP continued to advise the Company on the Quoted Growth portfolio under a subcontract from Foresight Group LLP. From 1 October 2024, Foresight Group LLP took on full responsibility for management of the Quoted Growth portfolio.

    Investment activity
    Markets continued to be volatile through the reporting period. The impending Budget dominated market behaviours, particularly the FTSE AIM Index, where fears over an abolition of IHT reliefs on AIM shares adversely affected the market. In the end, this fear was overcooked, and the FTSE AIM All Share rallied 4% on the day of the Budget, as it was announced that reliefs on AIM shares would remain, albeit at half the relief previously enjoyed. Since the Budget, the new concern has been focused on the impact of National Insurance increases, which have weighed heavily on UK Small and Mid-Cap companies. There is a general acceptance that inflation will still be a looming threat and hence interest rates will remain higher for longer.

    There were no investments or realisations made during the six months to 30 September 2024.

    Key portfolio developments
    At 30 September 2024, the Quoted Growth portfolio was valued at £13.4 million, comprising 36 active investments. Over the six-month period, the portfolio produced net valuation losses of £4.7 million, offset by £3.8 million received in dividends from the portfolio. Two companies, valued at £78,000 at year end, have been written down to nil during the period.

    The most significant loss was incurred in Tracsis plc, a provider of transport technology, which saw valuation losses of £2.4 million during the period due to a profit warning, citing delays on rail infrastructure spend incurred due to the early election. This was exacerbated by contract delays in their US business.

    This was offset by valuation gains elsewhere in the portfolio, where Anpario plc, a specialist manufacturer and distributor of natural sustainable feed additives for animal health, nutrition and biosecurity, increased by £680,000 net of £46,000 dividends received, reflecting an improvement in trading post supply chain issues experienced during the inflationary period post covid.

    A net gain of £615,000 was made in Downing Strategic Micro‑Cap Investment Trust plc, where special dividends of £3.7 million were made during the period, as part of the managed wind-down of the Trust. Since the period end, a further special dividend of 2.2p, equating to £133,000, has been received by the Company.

    Meanwhile Cohort plc, the parent company of six businesses providing a wide range of services and products for British, Portuguese and other international customers in defence and security markets, booked an unrealised gain of £558,000. This mirrored profit upgrades, contract renewals and strong financial results. This momentum has continued post period end.

    As at 17 December 2024, the valuation of the Quoted Growth portfolio had decreased by £226,000 (-1.7%).

    IBP Capital Markets Limited
    As noted in the Annual Report, the Company recovered c.80% of its total Quoted Growth portfolio on 19 July 2024, with the remaining c.20% to be recovered following court proceedings, currently anticipated to take place in the second half of 2025. Up until July, the ability to trade the portfolio continued to be restricted and hence there has been limited ability to manage exposures within the portfolio. The Company is now able to trade its positions, having been unable to do so since October 2023.

    Post-period end activity
    Post period end, ahead of the Budget, shares were sold in 14 of the Company’s Quoted Growth portfolio holdings. Notably, holdings in Anpario plc and Craneware plc were reduced, as well as in Impact Healthcare REIT plc, a non-qualifying holding. As previously communicated to Shareholders, the strategy going forward is to realise the Quoted Growth portfolio over time, which will free up funds to be redeployed into Unquoted Growth holdings.

    Outlook
    A number of the Quoted Growth companies in the portfolio have been consistently overoptimistic about hitting milestones for product development, revenues and ultimately profits. Given competition for capital amongst the wider portfolio of venture capital holdings, Foresight took the difficult decision to reduce a number of these positions. Achieving a total sale of individual holdings has not been possible, given that 20% of the Company’s Quoted Growth assets are still tied up in the custodian IBP Capital Markets Limited (“IBP”), which remains in special measures. While this is frustrating, as it does not allow portfolio management to be conducted across the entire portfolio should changes need to be made, we are able to make them to substantially all of the holdings.

    The Quoted Growth holdings have reduced as a percentage of the Company’s total assets, but we firmly believe that by making these changes we have increased the overall quality and see an encouraging future, despite an uncertain macroeconomic background.

    Downing LLP and Foresight Group LLP
    20 December 2024

    UNAUDITED HALF-YEARLY RESULTS AND RESPONSIBILITIES STATEMENTS

    Principal risks and uncertainties
    The principal risks faced by the Company are as follows:

    • Investment performance
    • Regulatory
    • Operational
    • Economic, political and other external factors

    The Board reported on the principal and emerging risks and uncertainties faced by the Company in the Annual Report and Accounts for the year ended 31 March 2024. A detailed explanation can be found on pages 26 to 28 of the Annual Report and Accounts, which is available on the Investment Adviser’s website www.foresightgroup.eu/products/foresight-ventures-vct-plc or by writing to Foresight Group at The Shard, 32 London Bridge Street, London SE1 9SG.

    In the view of the Board, there have been no changes to the fundamental nature of these risks since the previous report and these principal risks and uncertainties are equally applicable to the remaining six months of the financial year as they were to the six months under review.

    Directors’ responsibility statement
    The Disclosure and Transparency Rules (“DTR”) of the UK Listing Authority require the Directors to confirm their responsibilities in relation to the preparation and publication of the Half-Yearly Financial Report.

    The Directors confirm to the best of their knowledge that:

       a)   The summarised set of financial statements has been prepared in accordance with FRS 104
       b)   The interim management report includes a fair review of the information required by DTR 4.2.7R (indication of important events during the first six months and description of principal risks and uncertainties for the remaining six months of the year)
       c)   The summarised set of financial statements gives a true and fair view of the assets, liabilities, financial position and profit or loss of the Company as required by DTR 4.2.4R
       d)   The interim management report includes a fair review of the information required by DTR 4.2.8R (disclosure of related parties’ transactions and changes therein)

    Going concern
    The Company’s business activities, together with the factors likely to affect its future development, performance and position, are set out in the Strategic Report of the Annual Report. The financial position of the Company, its cash flows, liquidity position and borrowing facilities are described in the Chair’s Statement, Strategic Report and Notes to the Accounts of the 31 March 2024 Annual Report. In addition, the Annual Report includes the Company’s objectives, policies and processes for managing its capital; its financial risk management objectives; details of its financial instruments; and its exposures to credit risk and liquidity risk.

    The Company has adequate financial resources at the period end and holds a diversified portfolio of investments. As a consequence, the Directors believe that the Company is well placed to manage its business risks successfully.

    The Directors have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the half-yearly financial statements.

    The Half-Yearly Financial Report has not been audited nor reviewed by the auditors.

    On behalf of the Board

    Atul Devani
    Chair

    20 December 2024

    UNAUDITED INCOME STATEMENT
    For the six months ended 30 September 2024

      Six months ended
    30 September 2024
    (Unaudited)    		 Six months ended
    30 September 2023
    (Unaudited)    		 Year ended
    31 March 2024
    (Audited)
     
     
      Revenue Capital Total Revenue Capital Total Revenue Capital Total
      £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000
    Realised gains/(losses) on investments — 2,202 2,202 — (5,203) (5,203) — (8,015) (8,015)
    Investment holding (losses)/gains — (10,311) (10,311) — 1,028 1,028 — 3,465 3,465
    Income 4,187 — 4,187 1,065 — 1,065 906 — 906
    Investment management fees (404) (404) (808) (449) (449) (898) (863) (863) (1,726)
    Other expenses (482) — (482) (376) — (376) (1,346) — (1,346)
    Return/(loss) on ordinary activities before taxation 3,301 (8,513) (5,212) 240 (4,624) (4,384) (1,303) (5,413) (6,716)
    Taxation — — — (24) 24 — — — —
    Return/(loss) on ordinary activities after taxation 3,301 (8,513) (5,212) 216 (4,600) (4,384) (1,303) (5,413) (6,716)
    Return/(loss) per share 1.9p (4.8)p (2.9)p 0.1p (2.5)p (2.4)p (0.7)p (3.1)p (3.8)p

    The total columns of this statement are the profit and loss account of the Company and the revenue and capital columns represent supplementary information.

    All revenue and capital items in the above Income Statement are derived from continuing operations. No operations were acquired or discontinued in the period.

    The Company has no recognised gains or losses other than those shown above, therefore no separate statement of total recognised gains and losses has been presented.

    The Company has only one class of business and one reportable segment, the results of which are set out in the Income Statement and Balance Sheet.

    There are no potentially dilutive capital instruments in issue and, therefore, no diluted earnings per share figures are relevant. The basic and diluted earnings per share are, therefore, identical.

    UNAUDITED RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS’ FUNDS
    For the six months ended 30 September 2024

      Called-up Share
    premium    		 Capital redemption Special Capital Revaluation Revenue  
      share capital account reserve reserve reserve reserve reserve Total
      £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000
    As at 1 April 2024 1,775 2,522 71 86,901 (10,791) 6,057 (4,619) 81,916
    Share issues in the period 7 301 — — — — — 308
    Expenses in relation to share issues — (46) — — — — — (46)
    Repurchase of shares (55) — 55 (2,340) — — — (2,340)
    Realised gains on disposal of investments — — — — 2,202 — — 2,202
    Investment holding losses — — — — — (10,311) — (10,311)
    Dividends paid — — — — (1,953) — — (1,953)
    Management fees charged to capital — — — — (404) — — (404)
    Revenue return before taxation for the period — — — — — — 3,301 3,301
    Taxation for the period — — — — — — — —
    As at 30 September 2024 1,727 2,777 126 84,561 (10,946) (4,254) (1,318) 72,673

    Distributable reserves at 30 September 2024 total £51,490,000 (31 March 2024: £58,151,000).

    UNAUDITED BALANCE SHEET
    As at 30 September 2024

    Registered number: 03150868

      As at As at As at
      30 September 30 September 31 March
      2024 2023 2024
      (Unaudited) (Unaudited) (Audited)
      £’000 £’000 £’000
    Fixed assets      
    Investments held at fair value through profit or loss 57,746 65,871 67,393
    Current assets      
    Debtors 8,467 7,393 7,570
    Cash and cash equivalents 7,097 13,580 7,559
    Total current assets 15,564 20,973 15,129
    Creditors      
    Amounts falling due within one year (637) (1,077) (606)
    Net current assets 14,927 19,896 14,523
    Net assets 72,673 85,767 81,916
    Capital and reserves      
    Called-up share capital 1,727 1,770 1,775
    Share premium account 2,777 2,252 2,522
    Capital redemption reserve 126 71 71
    Special reserve 84,561 85,122 86,901
    Capital reserve (10,946) (5,627) (10,791)
    Revaluation reserve (4,254) 3,619 6,057
    Revenue reserve (1,318) (1,440) (4,619)
    Equity shareholders’ funds 72,673 85,767 81,916
    Net Asset Value per share 42.1p 48.5p 46.1p

    UNAUDITED CASH FLOW STATEMENT
    For the six months ended 30 September 2024

      Six months ended Six months ended Year ended
      30 September 30 September 31 March
      2024 2023 2024
      (Unaudited) (Unaudited) (Audited)
      £’000 £’000 £’000
    Cash flow from operating activities      
    Loss on ordinary activities after taxation (5,212) (4,384) (6,716)
    Loss on investments 8,109 4,175 4,550
    Increase in debtors (1,768) (891) (1,134)
    Increase in creditors 59 82 304
    Net cash inflow/(outflow) from operating activities 1,188 (1,018)  (2,996)
    Cash flow from investing activities      
    Purchase of investments (1,125) (2,209) (4,394)
    Net proceeds on sale of investments 2,917 3,295 3,433
    Net proceeds on deferred consideration 543 419 637
    Net cash inflow/(outflow) from investing activities 2,335 1,505 (324)
    Cash flows from financing activities      
    Proceeds of fundraising — 1,586 1,585
    Expenses of fundraising — (7) (7)
    Repurchase of own shares (2,340) (2,270) (2,964)
    Equity dividends paid (1,645) (1,498) (3,017)
    Net cash outflow from financing activities (3,985) (2,189) (4,403)
    Net outflow of cash in the period (462) (1,702) (7,723)
    Reconciliation of net cash flow to movement in net funds      
    Decrease in cash and cash equivalents for the period (462) (1,702) (7,723)
    Net cash and cash equivalents at start of period 7,559 15,282 15,282
    Net cash and cash equivalents at end of period 7,097 13,580 7,559

    Analysis of changes in net debt

      As at
    1 April 2024
    £’000    		 Cash flow
    £’000    		 At 30 September
    2024
    £’000
     
     
    Cash and cash equivalents 7,559 (462) 7,097

    NOTES TO THE UNAUDITED HALF-YEARLY RESULTS
    For the six months ended 30 September 2024

    1
    The Unaudited Half-Yearly Financial Report has been prepared on the basis of the accounting policies set out in the statutory accounts of the Company for the year ended 31 March 2024. Unquoted investments have been valued in accordance with IPEV Valuation Guidelines.

    2
    These are not statutory accounts in accordance with s436 of the Companies Act 2006 and the financial information for the six months ended 30 September 2024 and 30 September 2023 has been neither audited nor formally reviewed. Statutory accounts in respect of the year ended 31 March 2024 have been audited and reported on by the Company’s auditor and delivered to the Registrar of Companies and included the report of the auditor which was unqualified and did not contain a statement under s498(2) or s498(3) of the Companies Act 2006. No statutory accounts in respect of any period after 31 March 2024 have been reported on by the Company’s auditor or delivered to the Registrar of Companies.

    3
    Copies of the Unaudited Half-Yearly Financial Report will be sent to Shareholders via their chosen method and will be available for inspection at the Registered Office of the Company at The Shard, 32 London Bridge Street, London SE1 9SG.

    4 Net Asset Value per share
    The Net Asset Value per share is based on net assets at the end of the period and on the number of shares in issue at the date.

        Number of shares
      Net assets in issue
    30 September 2024 £72,673,000 172,715,260
    30 September 2023 £85,767,000 176,968,887
    31 March 2024 £81,916,000 177,546,529

    5 Return per share
    The weighted average number of shares used to calculate the respective returns are shown in the table below.

      Number of shares
    Six months ended 30 September 2024 176,320,908
    Six months ended 30 September 2023 179,310,912
    Year ended 31 March 2024 178,234,061

    Earnings for the period should not be taken as a guide to the results for the full year.

    6 Income

      Six months ended Six months ended Year ended
      30 September 30 September 31 March
      2024 2023 2024
      £’000 £’000 £’000
    Income from investments      
    Loan stock interest 240 920 424
    Dividend income 3,827 145 415
      4,067 1,065 839
    Other income 120 — 67
      4,187 1,065 906

    7 Investments held at fair value through profit or loss

      Unquoted Growth
    investments
    £’000    		 Unquoted
    Yield Focused
    investments
    £’000    		 Quoted Growth
    investments
    £’000    		 Total
    £’000
     
     
     
    Book cost at 1 April 2024 39,760 13,651 23,241 76,652
    Investment holding losses at 1 April 2024 (3,374) (751) (5,134) (9,259)
    Valuation at 1 April 2024 36,386 12,900 18,107 67,393
    Movements in the period:        
    Purchases 1,125 — — 1,125
    Disposal proceeds — (2,917) — (2,917)
    Realised (losses)/gains on disposals1 (775) 2,360 — 1,585
    Foreign exchange losses (669) — — (669)
    Investment holding losses2 (1,554) (2,473) (4,744) (8,771)
    Valuation at 30 September 2024 34,513 9,870 13,363 57,746
    Book cost at 30 September 2024 40,110 13,094 23,241 76,445
    Investment holding losses at 30 September 2024 (5,597) (3,224) (9,878) (18,699)
    Valuation at 30 September 2024 34,513 9,870 13,363 57,746
    1. Realised gains on investments in the Income Statement include realised gains relating to deferred consideration receipts totalling £617,000 from StorageOS Inc (£419,000), Efundamentals Group Limited (£96,000), Firefly Learning Limited (£74,000), DIA Imaging Analysis Limited (£14,000) and Imagen Limited (£14,000).
    2. Investment holding losses in the Income Statement include unrealised losses which are a result of the deferred consideration debtor decrease of £871,000. The debtor movement reflects the recognition of amounts receivable in respect of DIA Imaging Analysis Limited (£45,000) and Firefly Learning Limited (£8,000), offset by receipts in respect of StorageOS Inc (£419,000), Efundamentals Group Limited (£96,000), Firefly Learning Limited (£74,000), Imagen Limited (£14,000) and DIA Imaging Analysis Limited (£14,000). Amounts were previously recognised as receivable but written down at 30 September 2024 in respect of Efundamentals Group Limited (£295,000), JRNI Limited (£8,000) and Imagen Limited (£4,000).

    8 Contingencies, guarantees and financial commitments
    As outlined in note 17 to the Annual Report and Accounts for the year ended 31 March 2024, the Company has used IBP Capital Markets Limited (“IBP”) as custodian for its quoted investments since September 2020. Appointing a custodian is a requirement of the FCA; IBP is an FCA authorised and regulated wholesale broker, providing custody services and access to equity and fixed income securities for non-retail clients (which includes the Company). On 13 October 2023, the FCA published a supervisory notice under section 55L(3)(a) of the Financial Services and Markets Act 2000, imposing certain restrictions on IBP. On the same date, IBP applied to the High Court and special administrators were appointed.

    During the period since, the Investment Adviser has been actively collaborating with the special administrators to reach a resolution, which has involved reconciling quoted stocks held with IBP (“Custody Assets”) and cash held with IBP (“Client Money”). As at 13 October 2023, the Company held Client Money of £1.1 million (1.2% of indicative NAV on the same date), and Custody Assets of £16.9 million (19.5% of indicative NAV on the same date).

    With regard to Custody Assets, whilst the final outcome remains subject to change, particularly as additional claims may be made, there have so far been two differences of value identified, together totalling a variance of £0.28 million, which was provided for at 31 March 2024. It was announced on 17 May 2024 that the special administrators would be making an interim distribution of 80% of eligible Custody Assets, and the transfer of these to the new custodian completed on 19 July 2024. The Company is now able to trade these assets on the quoted market. The remaining 20% withheld will be distributed as part of a Final Court Approved Distribution Plan, unless additional claims are made resulting in a break.

    With regard to Client Money, a progress report was released on 12 April 2024 which identified a potential 44% cash shortfall equating to £0.46 million of Client Money held by the Company which was provided for at 31 March 2024. Any further deduction for fees relating to the special administration process is unknown at this point, but from the information available these are anticipated to be in the region of £0.14 million payable by the Company. These fees were accrued for as at 31 March 2024 and there has been no further adjustment to this estimate. The total potential exposure based on information available to date is therefore currently estimated to be £0.88 million, representing 1.2% of NAV at 30 September 2024.

    As noted, the outcome remains subject to change with the final distribution plan being shared following the court proceedings. Timing of this is currently anticipated to take place in the second half of 2025. The Company will communicate with Shareholders if there is any new information which materially impacts the numbers presented in this report.

    9 Related party transactions
    No Director has an interest in any contract to which the Company is a party other than their appointment and payment as Directors.

    10 Transactions with the Investment Adviser
    Details of arrangements with Foresight Group LLP are given in the Annual Report and Accounts for the year ended 31 March 2024, in the Directors’ Report and notes 4 and 5. All arrangements and transactions were on an arm’s length basis.

    Foresight Group LLP was appointed as Investment Adviser on 4 July 2022 and earned fees of £808,000 during the period to 30 September 2024 (30 September 2023: £898,000; 31 March 2024: £1,726,000).

    Foresight Group LLP is the Company Secretary (appointed on 1 September 2023) and received, for accounting and company secretarial services, fees of £75,000 during the period to 30 September 2024 (30 September 2023: £80,000; 31 March 2024: £156,000).

    At the balance sheet date there was £nil due to Foresight Group LLP (30 September 2023: £nil; 31 March 2024: £nil).

    11 Post-balance sheet events
    On 5 November 2024, the Company purchased for cancellation 2,197,967 ordinary shares of 1p at a gross price of 42.37p per share.

    On 15 November 2024, the Company merged with Thames Ventures VCT 2 plc (“TV2”). A total of 86,637,164 shares in the Company were issued to TV2 shareholders at the price of 42.629237024071200p per share. Following this allotment, the Company redesignated 147,531,473 of its issued ordinary shares as deferred shares, which were immediately repurchased and cancelled in order to re-base the NAV per share of each of ordinary share to 100.0p.

    A copy of the Unaudited Half-Yearly Financial Report will be submitted to the National Storage Mechanism in accordance with UK Listing Rules (“UKLR”)11.4.1 / UKLR 6.4.1 and UKLR 6.4.3.

    END

    For further information, please contact:

    Company Secretary
    Foresight Group LLP
    Contact: Stephen Thayer Tel: 0203 667 8100

    Investor Relations
    Foresight Group LLP
    Contact: Andrew James Tel: 0203 667 8181

    The MIL Network –

  • MIL-OSI: PEMCO poll: Belief that young adults can’t afford homes jumps by 13% since 2020

    Source: GlobeNewswire (MIL-OSI)

    SEATTLE, Dec. 20, 2024 (GLOBE NEWSWIRE) — With home prices on the rise for years, young adults across the Pacific Northwest have found homeownership to be increasingly out of reach. A new poll by PEMCO Mutual Insurance shows that 81% of respondents agree that Gen Z and Millennial adults are far less likely to own a home than previous generations.

    The poll of Washington and Oregon residents highlights a drastic increase in this mindset since 2020, when just 68% shared the same sentiment four years ago. A number of factors could be attributed to this drastic increase, including a lack of affordable housing, persistent inflation and stagnant wages.

    Current homeowners agree that they would find themselves in a similar boat to today’s renters – more than a third of respondents (38%) reported they would not be able to purchase the home they own for what it’s worth in today’s market.

    Does this mean the prospect of owning a home is dying out in the Pacific Northwest? Well, not necessarily. A majority of respondents (65%) reported that they are likely to own a home one day, a theme that’s consistent across both metro and suburban areas. Regardless of where they live, though, adults under 35 are the most confident with 75% of respondents believing they are likely to own a home one day, followed by the 35-54 group at 65%, and the 55+ age group at 47%. Young adults being the most confident in their ability to own a home in the future is consistent from the poll’s 2020 findings, too.

    “Homeownership is an evolving landscape, and the path to it has become more complex for younger generations. While factors like affordability and shifting priorities are key, it’s important to remember that it may not be the right choice for everyone,” said Jennifer Hawton, spokesperson for PEMCO. “It’s clear that young adults have adopted a more flexible lifestyle, with the rise of remote work allowing many to bring in a full-time income from virtually anywhere. That could be a significant reason that young adults don’t want to feel tied to one place and instead, opt to remain renters. Whatever the case, we love that young adults in the Pacific Northwest are as confident in themselves as we are in them.”

    As for those who currently rent, 73% of residents said the downpayment on a house is what’s stopping them from purchasing a home. Likewise, 59% said the monthly mortgage payments are also a major barrier in becoming a homeowner. Both numbers have risen significantly since PEMCO last asked in 2020 (55% and 51%, respectively).

    For a complete summary of PEMCO’s proprietary poll results visit www.pemco.com/blog/nw-polls, where you’ll find responses collected by Qualtrics in July 2024.

    About the PEMCO Insurance Northwest Poll
    PEMCO Mutual Insurance commissioned this independent survey, conducted by Qualtrics, that asked Washington and Oregon residents questions about attitudes toward current Northwest issues. The sample size, 420 respondents in the Seattle Metro (King, Snohomish, Pierce Counties) region, 402 respondents in the Portland Metro (Multnomah, Marion, Clackamas, Washington Counties), and 383 respondents in the Spokane area (Spokane and Stevens Counties) yields an accuracy of +/- 5.0% respectively at the 95% confidence level. In other words, if this study were conducted 100 times, in 95 instances the data will not vary by more than the associated error range.

    About PEMCO Mutual Insurance
    PEMCO Mutual Insurance has been serving the Pacific Northwest for 75 years. PEMCO provides auto, home, renters, and boat coverage. We are honored to have been recognized as a Best American Insurance Company by Forbes Magazine based on customer feedback. We distinguish ourselves through award-winning customer service, industry expertise, and social impact programs focused on supporting youth and education; building greener environments; and increasing risk awareness and safety. To learn more, visit www.pemco.com.

    CONTACTS:

    Jennifer Hawton
    PEMCO Mutual Insurance
    206.628.5773
    Jennifer.hawton@pemco.com

    Kristi Herriott
    Firmani + Associates Inc.
    206.466.2702
    Kristi@firmani.com

    The MIL Network –

  • MIL-OSI: Mountain America Credit Union Boosts BroncoLife with First Down Donation Program

    Source: GlobeNewswire (MIL-OSI)

    BOISE, Idaho, Dec. 20, 2024 (GLOBE NEWSWIRE) — As the official credit union of the Boise State Broncos, Mountain America Credit Union continues its support of BroncoLife through the First Down donation program. Through this unique program, the credit union committed a donation to BroncoLife for every first down completed by the BSU football team in 2024. This year, those first downs added up to $15,000, which will help BroncoLife continue its mission of empowering student-athletes to reach their full potential both in school and on their future career paths.

    A Media Snippet accompanying this announcement is available by clicking on this link.

    “Community service is integral to our core values, and Mountain America is proud to participate in the First Down donation program,” said Nathan Anderson, executive vice president and chief operating officer at Mountain America. “We value the lasting contributions BroncoLife makes to the lives of families and students in the Treasure Valley and beyond.”

    During the November 29, 2024, game, Mountain America presented a check for $15,000 to Associate Athletic Director Sara Whiles, Buster Bronco, and fellow Boise State Athletics associates. Since 2019, Mountain America has donated over $90,000 to BroncoLife.

    “We are so grateful Mountain America Credit Union continues to recognize and support the BroncoLife program,” Whiles said. “With investments like theirs we can provide opportunities that assist in the development of student-athletes and ultimately prepare them for life after sports.”

    For more information about Mountain America’s community involvement activities, visit macu.com/newsroom.

    About Mountain America Credit Union
    With more than 1 million members and $20 billion in assets, Mountain America Credit Union helps its members define and achieve their financial dreams. Mountain America provides consumers and businesses with a variety of convenient, flexible products and services, as well as sound, timely advice. Members enjoy access to secure, cutting-edge mobile banking technology, over 100 branches across multiple states, and more than 50,000 surcharge-free ATMs. Mountain America—guiding you forward. Learn more at macu.com.

    The MIL Network –

  • MIL-OSI: NBT Bancorp Inc. Receives Regulatory Approval, Evans Bancorp, Inc. Shareholders Approve Merger

    Source: GlobeNewswire (MIL-OSI)

    NORWICH, N.Y. and WILLIAMSVILLE, N.Y., Dec. 20, 2024 (GLOBE NEWSWIRE) — NBT Bancorp Inc. (“NBT”) (NASDAQ: NBTB) announced that it has received regulatory approval to complete the proposed merger (the “Merger”) of Evans Bancorp, Inc. (“Evans”) (NYSE American: EVBN) with and into NBT and Evans Bank, N.A. (“Evans Bank”) with and into NBT Bank, N.A. (“NBT Bank”). The Office of the Comptroller of the Currency approved the merger of Evans Bank with and into NBT Bank, and NBT received a waiver from the Federal Reserve Bank of New York for any application with respect to the merger of Evans with and into NBT.

    On December 20, 2024, the shareholders of Evans voted to approve the Merger. Evans reported over 75% of the issued and outstanding shares of Evans were represented at a special shareholder meeting and over 96% of the votes cast were voted to approve the Merger.

    “We are pleased that we have received the necessary regulatory approvals to proceed with the Merger and that Evans shareholders have demonstrated strong support for the partnership that will bring NBT and Evans together,” said NBT President and CEO Scott A. Kingsley. “Team members from NBT and Evans have been working closely to plan for a smooth transition in the second quarter of 2025, and we look forward to continuing to build on the relationships Evans has established with their customers, communities and shareholders as we extend NBT’s footprint in Upstate New York into the attractive Buffalo and Rochester markets.”

    “These approvals are important milestones in the merger process, and we are grateful that Evans shareholders have so positively endorsed this strategic partnership,” said David J. Nasca, Evans President and Chief Executive Officer. “Joining the NBT family will benefit our customers and communities as they will continue to be served by a combined organization upholds our shared culture and values, maintains our relationship-focused approach, and offers an elevated suite of financial products and services.”

    On September 9, 2024, NBT, Evans, NBT Bank and Evans Bank entered into an Agreement and Plan of Merger pursuant to which Evans will merge with and into NBT in an all-stock transaction, and immediately after, Evans Bank will merge with and into NBT Bank. This Merger will bring together two highly respected banking companies and extend NBT’s growing footprint into Western New York. The Merger is expected to close in the second quarter of 2025 in conjunction with the system conversion, pending customary closing conditions.

    About NBT Bancorp Inc.
    NBT Bancorp Inc. is a financial holding company headquartered in Norwich, NY, with total assets of $13.84 billion at September 30, 2024. NBT primarily operates through NBT Bank, N.A., a full-service community bank, and through two financial services companies. NBT Bank, N.A. has 155 banking locations in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine and Connecticut. EPIC Retirement Plan Services, based in Rochester, NY, is a national benefits administration firm. NBT Insurance Agency, LLC, based in Norwich, NY, is a full-service insurance agency. More information about NBT and its divisions is available online at: www.nbtbancorp.com, www.nbtbank.com, www.epicrps.com and https://www.nbtbank.com/Insurance.

    About Evans Bancorp, Inc.
    Evans is a financial holding company headquartered in Williamsville, NY, with total assets of $2.28 billion at September 30, 2024. Its primary subsidiary, Evans Bank, N.A., is a full-service community bank with 18 branches providing comprehensive financial services to consumer, business and municipal customers throughout Western New York. More information about Evans is available online at www.evansbancorp.com and www.evansbank.com.

    Forward-Looking Statements
    This communication contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements about NBT and Evans and their industry involve substantial risks and uncertainties. Statements other than statements of current or historical fact, including statements regarding NBT’s or Evans’ future financial condition, results of operations, business plans, liquidity, cash flows, projected costs, and the impact of any laws or regulations applicable to NBT or Evans, are forward-looking statements. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “projects,” “may,” “will,” “should” and other similar expressions are intended to identify these forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results.

    Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: (1) the businesses of NBT and Evans may not be combined successfully, or such combination may take longer to accomplish than expected; (2) the cost savings from the merger may not be fully realized or may take longer to realize than expected; (3) operating costs, customer loss and business disruption following the merger, including adverse effects on relationships with employees, may be greater than expected; (4) the possibility that the merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (5) diversion of management’s attention from ongoing business operations and opportunities; (6) the possibility that the parties may be unable to achieve expected synergies and operating efficiencies in the merger within the expected timeframes or at all and to successfully integrate Evans’ operations and those of NBT; (7) such integration may be more difficult, time consuming or costly than expected; (8) revenues following the proposed transaction may be lower than expected; (9) NBT’s and Evans’ success in executing their respective business plans and strategies and managing the risks involved in the foregoing; (10) the dilution caused by NBT’s issuance of additional shares of its capital stock in connection with the proposed transaction; (11) changes in general economic conditions, including changes in market interest rates and changes in monetary and fiscal policies of the federal government; and (12) legislative and regulatory changes. Further information about these and other relevant risks and uncertainties may be found in NBT’s and Evans’ respective Annual Reports on Form 10-K for the fiscal year ended December 31, 2023 and in subsequent filings with the Securities and Exchange Commission.

    Forward-looking statements speak only as of the date they are made. NBT and Evans do not undertake, and specifically disclaim any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. You are cautioned not to place undue reliance on these forward-looking statements.

    Contacts NBT Bancorp Inc. Evans Bancorp, Inc.
         
      Scott A. Kingsley
    President and Chief Executive Officer    		 David J. Nasca
    President and Chief Executive Officer
         
      Annette L. Burns
    EVP and Chief Financial Officer    		 John B. Connerton
    EVP and Chief Financial Officer
         
      607-337-6589 716-926-2000
         
        Evans Investor Relations
    Deborah K. Pawlowski, Alliance Advisors
    dpawlowski@allianceadvisors.com
    716-843-3908
         

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –

  • MIL-OSI: Danske Bank share buy-back programme: Transactions in week 4

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 4 2025   Group Communications
    Bernstorffsgade 40
    DK-1577 København V
    Tel. +45 45 14 00 00

    27 January 2025

    Danske Bank share buy-back programme: Transactions in week 4

    On 2 February 2024, Danske Bank A/S announced a share buy-back programme for a total of DKK 5.5 billion, with a maximum of 70 million shares, in the period from 5 February 2024 to 31 January 2025, at the latest, as described in company announcement no. 2 2024.

    The programme is being carried out under Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 and the Commission’s delegated regulation (EU) 2016/1052 of 8 March 2016, also referred to as the Safe Harbour Rules.

    The following transactions were made under the share buy-back programme in week 4:

      Number
    of shares    		 VWAP
    DKK    		 Gross value
    DKK
    Accumulated, last announcement 26,388,423 201.8712 5,327,062,369
    20/01/2025 25,000 211.4840 5,287,100
    21/01/2025 24,619 213.0982 5,246,265
    22/01/2025 25,000 215.3265 5,383,163
    23/01/2025 57,000 214.9559 12,252,486
    24/01/2025 92,500 216.4736 20,023,808
    Total accumulated over week 4 224,119 215.0323 48,192,821
    Total accumulated during the share buyback programme 26,612,542 201.9820 5,375,255,190

    With the transactions stated above the total accumulated number of own shares under the share buy-back programme corresponds to 3.09% of Danske Bank A/S’ share capital.

    We enclose share buy-back transaction data in detailed form of each transaction in accordance with the Commission’s delegated regulation (EU) 2016/1052 of 8 March 2016.

    Danske Bank

    Contact: Stefan Singh Kailay, Group Press Officer, tel. +45 45 14 14 00

    Attachments

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