Category: KB

MIL-OSI: Kama Capital Secures SCA Category 1 License: A Major Step in Expanding Innovation and Reach

Source: GlobeNewswire (MIL-OSI)

DUBAI, United Arab Emirates, Jan. 29, 2025 (GLOBE NEWSWIRE) — The Securities and Commodities Authority (SCA) of the United Arab Emirates has awarded Kama Capital the prestigious Category 1 licence. This achievement positions Kama Capital as a key player in the trading industry, providing it with the regulatory framework to expand its presence, scale its operations, and fulfill its mission to create advanced, high-tech, AI-driven online trading solutions.

What the SCA License Means for Us
This isn’t merely a licence—it’s a gateway to opportunity. Here’s how it empowers Kama Capital to advance its business to the next level level:

1.     Expanded Services and Product Offering
The SCA Category 1 licence allows Kama Capital to offer a broader range of financial services, including direct market access for clients and advanced trading tools. This means we can cater to institutional investors, liquidity providers, and professional traders in the region with solutions tailored to their needs — all underpinned by robust regulation oversight.

2.    Enhanced Trust and Credibility
Being licensed by the SCA, one of the most respected regulators in the region, reinforces Kama Capital’s commitment to transparency, security, and compliance. Clients seek assurance that their trading partner operates within strict legal frameworks, and this licence provides precisely that. For technology-driven firms like ours, this trust forms the foundation for our bold innovation.

3.    A Foundation for Technological Growth
Regulation isn’t a barrier for us — it’s an enabler. The SCA provides clear, tech-forward guidelines for fintech companies to innovate responsibly. With this licence, Kama Capital can scale its AI-driven trading platform while ensuring that all technology and data management practices meet regulatory expectations. The balance between innovation and oversight enables us to develop faster, smarter trading tools for our clients.

Why Dubai Is the Perfect HQ for Kama Capital
Establishing our headquarters in Dubai was a deliberate choice. The city is not only an economic hub but a global centre for entrepreneurship and technology. Here’s why it matters:

1.     A Fintech-Friendly Ecosystem
Dubai has established itself as the region’s leader in financial technology. From its thriving startup scene to government-backed accelerators, the city actively supports innovation. This infrastructure allows Kama Capital to stay at the cutting edge of trading technology while benefiting from proximity to like-minded tech innovators.

2.    Access to World-Class Talent
The UAE attracts some of the brightest minds in finance and technology. By based in Dubai, we have access to a diverse talent pool with expertise in AI, machine learning, and algorithmic trading. This talent is the engine behind our next-generation trading solutions.

3.    A Visionary Regulatory Environment
The SCA and other UAE regulatory bodies are not just gatekeepers but partners in fostering innovation. Their frameworks enable companies like Kama Capital to operate confidently, knowing that technological advancements and client protection go hand in hand.

Quotes from Leadership

Razan Assaf, Deputy CEO of Kama Capital: “Securing the SCA Category 1 license for Kama Capital Securites Broker LLC is a major milestone for Kama Capital Group’s expansion. It allows us to broaden our presence in the UAE and across the GCC, giving traders access to a highly regulated, technology-first brokerage that prioritizes performance and security. The UAE continues to set the gold standard for financial innovation, and we are proud to be part of this ecosystem, driving forward the next generation of trading.” Mohammed Omayer, Head of Compliance at Kama Capital: “Regulatory integrity is at the core of everything we do. The SCA Category 1 license confirms that Kama Capital operates under the most rigorous financial, compliance, and AML (Anti-Money Laundering) standards. As trading technology evolves, so do the risks associated with financial crime, and we remain committed to ensuring that every aspect of our operations meets and exceeds global regulatory expectations. This license strengthens our ability to enforce strict AML policies, investor protection measures, and financial security protocols, ensuring a safe and transparent trading environment for all our clients.”

About Kama Capital

Kama Capital was founded in 2021 to lead a new breed of traders powered by cutting-edge AI and technology to redefine the future of trading. Headquartered in Dubai, the company leverages advanced machine learning, algorithmic trading, Expert Advisors, data analytics, and next-generation trading tools to provide traders with the technology, intelligence, and control needed to transform their trading practices. Kama Capital has received industry recognition for its innovative approach, earning awards such as “Fintech of the Year” from Entrepreneur Magazine, forming strategic partnerships with Tech Crunch, Finance Magnates, Acuity, and FutureTech Con, and now operates under the prestigious SCA Category 1 licence, further solidifying its position as a leader in the financial trading sector.

For more information about Kama Capital, users can visit https://kamacapital.ae/

Contact

Head of Digital & Partnerships
Karthik R. Arumugam
Kama Capital
k.arumugam@kama-capital.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/95c11624-3979-4f38-84b2-648cf3ebceaf

The MIL Network –

January 30, 2025
MIL-OSI: Scality launches Cloud & Service Provider Program with Pay-as-you-Go licensing for Veeam Partner Ecosystem
Source: GlobeNewswire (MIL-OSI)

SAN FRANCISCO, Jan. 29, 2025 (GLOBE NEWSWIRE) — Scality, a global leader in cyber-resilient storage software for the AI era, today announced the launch of its Pay-as-you-Go licensing model for Scality Cloud & Service Providers (SCSP). Specifically optimized for Veeam cloud service providers, this program features Scality ARTESCA as a 100% software storage backup target for Veeam^® Backup-as-a-Service offerings. This groundbreaking initiative delivers scalable, future-proof cloud backup solutions that boost revenue and customer satisfaction.

ARTESCA for Veeam Cloud & Service Providers provides unmatched scale and cyber resiliency

Scality ARTESCA’s pricing model is aligned with Veeam’s pay-as-you-go licensing framework and takes customers beyond immutability to deliver a CORE5 cyber-resilient backup with unlimited scale and no performance degradation. The new licensing model minimizes sales friction, streamlines order processing, and enhances backup functionality with reduced complexity, making ARTESCA the premier storage solution for service providers who offer Veeam Backup-as-a-Service.

“Our joint customers appreciate a bundled Veeam + Scality solution offering, which provides solid data resilience capabilities. It’s exciting to now see Scality launch its own global Cloud Service Provider Program, as it’s a go-to-market model that has seen continuous growth over the years. At Veeam, we are particularly proud of our network of Veeam Cloud & Service Provider (VCSP) partners and the quality of service they offer to hundreds of thousands of customers,” said Amaury Dutilleul-Francoeur, vice president of EMEA channels and alliances at Veeam.

Empowering Service Providers with Scality’s flexible pay-as-you-go licensing model

Scality offers a flexible pay-as-you-go software licensing model, designed to help SCSPs keep operations streamlined while boosting Annual Recurring Revenue (ARR). Key features include:
- Flexible term commitment options: Choose a 1-, 2-, or 3-year ARR commitment.
- Dynamic monthly billing: Only pay based on utilized storage capacity, allowing costs to align directly with monthly revenue.
The new Scality ARTESCA pay-as-you-go licensing model is designed specifically for Cloud & Service Providers who integrate Veeam into their offerings. By positioning ARTESCA as the go-to backup target solution, service providers can provide reliable and scalable storage that adapts quickly to their customers’ evolving needs.

“ARTESCA’s unprecedented growth in 2024 underscored its flexibility, simplicity, and impact. With this launch, we’re enabling Veeam Cloud & Service Providers and partners worldwide to deliver comprehensive security, performance, scalability, and cost efficiency to their customers. This program represents a bold step in redefining Backup-as-a-Service, empowering businesses to protect their data with confidence and thrive in an era of constant change,” said Eric LeBlanc, GM of ARTESCA and Channel Chief.

Why Cloud & Service Providers will benefit with Scality ARTESCA
- Peace of mind for customers: Takes solution beyond immutability with CORE5 cyber resiliency.
- More business revenue: Upsell and modernize with ARTESCA on existing Veeam solution to build a solid ARR model as capacity increases over time.
- Greater market competitiveness: Benefit from software-defined storage on low-cost servers, reducing expenses by up to 59% over five years (source: IDC Business Review).
- Usage-based billing aligned to the business: Pay only for the capacity used, aligning expenses directly with revenue.
- Start small and grow: Start with as little as 50 TB and expand infinitely as customers’ storage needs grow, making ARTESCA ideal for both small and large deployments.
Autodata, a certified Platinum Veeam Cloud & Service Provider partner, highlighted the benefits they’ve experienced as one of the first Veeam partners to join Scality’s Cloud & Service Provider program.

“Scality beat out strong competition to become our preferred object-storage solution for truly immutable on-premise backup,” said Ant Bucknor, Head of Data Centre and Cloud Services at Autodata. “ARTESCA offers unlimited scale, unmatched performance, and unbreakable cyber resilience. The flexible pricing model sealed the deal – we only pay for the capacity our customers need. Scality’s software-only solution also helped us maintain strong discounts with our preferred hardware vendor, and its easy deployment with Supermicro servers made implementation seamless. We immediately saw a 50% saving compared to other solutions. We’re also excited to be the first certified Veeam Cloud and Service Provider to join Scality’s Service Provider Program – one of the best revenue-generating programs we’ve seen in a long time!”

Availability
The ARTESCA pay-as-you-go software solution for Veeam Cloud & Service Providers and partners is available now globally through select distribution partners. Learn more about our Scality ARTESCA and our new Pay-as-you-Go licensing model here: https://www.artesca.scality.com/scsp/

About Scality
Scality solves organizations’ biggest data storage challenges — security, performance, and cost. Designed to provide the strongest form of immutability plus end-to-end cyber resilience, Scality solutions safeguard data at five core levels for unbreakable ransomware protection. Delivering utmost resilience, Scality makes storage infrastructures limitlessly scalable in all critical dimensions. The world’s most discerning companies trust Scality so they can grow faster and execute AI data-driven ideas quicker — while increasing efficiency and avoiding lock-in. Scality S3 object storage software is reliable, secure and sustainable. Follow us on Twitter and LinkedIn. Visit www.scality.com and our blog.

Media Contact:
Lisa Williams
A3 Communications
+1 339-788-0067
lisa.williams@a3communicationspr.com

The MIL Network –
January 30, 2025
MIL-OSI Russia: “Winter in Moscow”: Northern Lights Appear Over Manezhnaya Square

Translartion. Region: Russians Fedetion –

Source: Moscow Government – Government of Moscow –

The northern lights can now be seen over Manezhnaya Square in Moscow. This light show was prepared as part of the project “Winter in Moscow” and is timed to coincide with the start of the Chinese New Year celebrations in the capital. It can be seen every evening until February 9. Admission is free, no pre-registration required.

There is a sign in China: seeing the northern lights in the sky means good luck. This natural phenomenon attracts many tourists from the Celestial Empire to Russia. Residents and guests of the capital are offered to catch luck by the tail without crossing the Arctic Circle. It is enough to come to Manezhnaya Square in the evening.

A themed light show as part of the Chinese New Year in Moscow festival was also organized on Bolotnaya Square. It can be seen for free during skating sessions on the rink. This site opened here for the first time. Visitors can see an imitation of a pond with koi carp that “swim” after them under the ice. The show starts daily at 18:00 and will run until February 9.

The Chinese New Year in Moscow festival is held from January 28 to February 9 as part of the cross-cultural years of Russia and China. City residents and tourists can look forward to events on Manezhnaya, Tverskaya and Bolotnaya squares, VDNKh, the Moscow Zoo and other popular places. In total, the festival unites two dozen venues and more than 400 events. Guests will see performances by Chinese theaters and drum shows, themed ice shows, and attend creative workshops, lectures and tea ceremonies.

A special gastronomic program has been prepared for the festival. Traditional Chinese dishes can be tried in stylized chalets on Manezhnaya Square, in the food court on Bolotnaya Square and in more than 100 restaurants in the capital.

Project “Winter in Moscow”— the main event of the season, which until February 28 unites various events of the capital. Citizens and tourists are invited to remember traditions and history, warm up with tea and hot buns, go skating, skiing and tubing, watch ice shows, give gifts to people who find themselves in a difficult life situation, show care for those who need it.

Muscovites and guests of the capital are offered a huge selection of events in the open air and in cultural and sports institutions. The atmosphere of winter traditions has engulfed the entire city – more than 1.9 thousand sites are open. The largest festivals of the capital are organically woven into the project: “Moscow Estates”, “Moscow Tea Party”, “City of Light” and many others. All information about the project and the events of the winter season can be found in a special mos.ru section.

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

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

https: //vv.mos.ru/nevs/ite/149470073/

MIL OSI Russia News –

January 30, 2025
MIL-OSI USA: Governor Newsom announces appointments 1.28.25

Source: US State of California 2

Jan 28, 2025

SACRAMENTO – Governor Gavin Newsom today announced the following appointments:

Deborah Hoffman, of Sacramento, has been appointed Chief Deputy Director at the Office of Tax Appeals. Hoffman has been Special Advisor at the California Department of Veterans Affairs since 2020, where she was previously Senior Advisor for Communications from 2019 to 2020. She was Undersecretary of the California Business, Consumer Services, and Housing Agency from 2017 to 2019. Hoffman was Deputy Press Secretary in the Office of Governor Brown from 2015 to 2017. She was Assistant Secretary of Public and Employee Communications at the California Department of Corrections from 2012 to 2015. Hoffman was Deputy Secretary of Communications and External Affairs at the California Environmental Protection Agency from 2011 to 2012. She was Communications Director and Policy Consultant in the Office of Senator Fran Pavley from 2009 to 2011. Hoffman was a Reporter at KXTV ABC10 News Sacramento from 1995 to 2009. She earned a Bachelor of Arts degree in Journalism from California State University, Northridge. This position does not require Senate confirmation, and the compensation is $187,104. Hoffman is registered without party preference.

Krista Dunzweiler, of Sacramento, has been appointed Chief Deputy General Counsel in the Office of Legal Affairs at the Department of Corrections and Rehabilitation, where she has been Chief Deputy General Counsel since 2019. Dunzweiler held several positions at the California Department of Justice from 2014 to 2019 including Deputy Attorney General IV and Deputy Attorney General III. She was an Associate at Locke Lord LLP from 2011 to 2014, Bullivant Houser Bailey from 2008 to 2011, Diepenbrock Harrison from 2006 to 2008, and at Weinstraub Genshlea Chediak from 2004 to 2006. Dunzweiler earned a Juris Doctor degree from the University of the Pacific, McGeorge School of Law, and a Master of Arts degree in Communications and a Bachelor of Arts degree in History and Psychology from the University of the Pacific. This position does not require Senate confirmation, and the compensation is $229,236. Dunzweiler is a Democrat.

Todd Gloria, of San Diego, has been appointed to the California Air Resources Board. Gloria has been the Mayor of the City of San Diego since 2020. He was an Assemblymember with the California State Assembly from 2016 to 2020. Gloria was a Councilmember, District 3 in the City of San Diego from 2008 to 2016. He was a District Director in the Office of Congresswoman Susan A. Davis from 2001 to 2008. Gloria was a San Diego Housing Commissioner on the San Diego Housing Commission from 2005 to 2008. He was Board Chair at San Diego LGBT Community Center from 2002 to 2007. Gloria earned his Bachelor of the Arts degree in Political Science and History from the University of San Diego. This position requires Senate confirmation, and the compensation is $100 per diem. Gloria is a Democrat.

Roxanne Messina Captor, of Redondo Beach, has been reappointed to the California Arts Council, where she has been serving since 2022. Captor has been Associate Faculty at Santa Monica College since 1986, an Emmy-nominated Filmmaker at Messina Captor Films Inc. since 1994, and a teacher at the New York Film Academy since 2022. She was a Faculty Member at Emerson College LA and CalArts from 2000 to 2019. Captor was Executive Director for the San Francisco International Film Festival and Society from 2001 to 2006. She is a member of the Academy of Television Arts and Sciences, Who’s Who of America, Greenlight Women, and the National Association of Television Program Executives. Captor earned a Master of Fine Arts degree in Directing for Cinema from Columbia College of Chicago and a Bachelor of Fine Arts degree in Theatre Arts from Julliard School of Music. This position requires Senate confirmation, and the compensation is $100 per diem. Captor is a Democrat.

Press Releases, Recent News

Recent news

Jan 28, 2025

News What you need to know: Governor Newsom met today with leaders of the Pacific Palisades synagogue Kehillat Israel, which still stands after the fire. Los Angeles, California – Today, Governor Gavin Newsom met with clergy, staff, and board members of Kehillat…

Jan 28, 2025

News Dodgers Chairman Mark Walter, Mark Walter Family Foundation, and Los Angeles Dodgers Foundation will provide an initial commitment of up to $100 million LA Rises will support city and county efforts to help accelerate recovery LOS ANGELES — In the wake of one…

Jan 27, 2025

News LOS ANGELES — Scientists, water managers, state leaders, and experts throughout the state are calling out the federal administration’s ongoing misinformation campaign on water management in California. Here is a snapshot of what water leaders and media are saying…

MIL OSI USA News –

January 30, 2025
MIL-OSI USA: Office of the Governor — News Release — Governor Green Signs Executive Order to Promote and Expedite Renewable Energy, Reducing Energy Costs

Source: US State of Hawaii

Office of the Governor — News Release — Governor Green Signs Executive Order to Promote and Expedite Renewable Energy, Reducing Energy Costs

Posted on Jan 28, 2025 in Latest Department News, Newsroom, Office of the Governor Press Releases

STATE OF HAWAIʻI
KA MOKU ʻĀINA O HAWAIʻI

JOSH GREEN, M.D.
GOVERNOR
KE KIAʻĀINA

GOVERNOR GREEN SIGNS EXECUTIVE ORDER TO PROMOTE AND EXPEDITE RENEWABLE ENERGY, REDUCING ENERGY COSTS

FOR IMMEDIATE RELEASE
January 28, 2025

HONOLULU — Governor Josh Green, M.D., today unveiled an executive order to promote and expedite the development of renewable energy in the state of Hawaiʻi.

In the face of federal uncertainty regarding renewable energy and concerns over grid stability across the state, the Governor is committed to expanding and accelerating Hawaiʻi’s renewable resource development, and has outlined priorities to reduce energy costs, prevent blackouts, and slash emissions for Hawaiʻi residents and businesses.

The executive order, developed with the Hawaiʻi State Energy Office and the input of various energy stakeholders across the state over the last year, outlines new policy objectives and directives for the state of Hawaiʻi, including accelerating renewable development for neighbor island communities to hit 100% renewable portfolio standards from 2045 to 2035, setting a statewide goal of 50,000 distributed renewable energy installations (such as rooftop solar and battery systems) by 2030, and directing state departments to streamline and accelerate the permitting of renewable developments to reduce energy costs and project development timelines.

In addition, the order calls upon the Hawaiʻi Public Utilities Commission and Hawaiian Electric Company for support in reducing redundancies and inefficiencies in energy permitting and to prioritize reduced energy costs and energy stability for Hawaiʻi’s people.

“Hawaiʻi needs to take some drastic steps to reduce energy costs, which have continued to rise and have contributed to the high cost of living for our people,” said Governor Green. “We know that high energy costs in Hawaiʻi are due to our reliance on burning oil for electricity and old infrastructure, which is really unacceptable. We can and must do more to get this under control.”

Despite the federal administration signaling a turn away from renewables, Governor Green is doubling-down on a diversified, renewable-centered approach to cut costs and emissions.

“This EO represents the start of real action to lower costs, support a stable energy system, and reduce emissions,” said Chip Fletcher, the Governor’s climate advisor and interim dean of the School of Ocean and Earth Science and Technology (SOEST), University of Hawai‘i at Mānoa. “Governor Green is cutting the red tape to realize our shared energy goals, including the first-ever push to get neighbor island communities to energy independence a decade sooner.”

“The goal of 50,000 distributed renewable energy installations before 2030 demonstrates the state of Hawaiʻi’s commitment to ensuring more affordable and resilient energy for Hawaiʻi’s people,” said Rocky Mould, executive director of the Hawaiʻi Solar Energy Association. “We are excited to aggressively expand opportunities for rooftop solar and energy storage and unleash its power and promise for the clean/decarbonized grid of the future under Governor Green’s leadership.”

Energy costs have risen starkly in Hawaiʻi, which has the highest average residential energy rate of any state in the U.S.

High electricity and utility costs impact households, are a drag on Hawaiʻi’s economy, and add additional tax burdens by increasing government operating expenses. Energy cost increases have represented a $15M recurring increase in the Governor’s latest biennium budget for the Department of Education’s operations alone.

A copy of the executed executive order can be found here.

# # #

Media Contacts:  
Erika Engle
Press Secretary
Office of the Governor, State of Hawai‘i
Phone: 808-586-0120
Email: [email protected]

Makana McClellan
Director of Communications
Office of the Governor, State of Hawaiʻi
Cell: 808-265-0083
Email: [email protected]

MIL OSI USA News –

January 30, 2025
MIL-OSI USA: Governor Newsom meets with leaders of Kehillat Israel, Palisades synagogue that still stands after fire
Source: US State of California 2

Jan 28, 2025

What you need to know: Governor Newsom met today with leaders of the Pacific Palisades synagogue Kehillat Israel, which still stands after the fire.

Los Angeles, California – Today, Governor Gavin Newsom met with clergy, staff, and board members of Kehillat Israel, the largest synagogue in Pacific Palisades, which still stands after the Palisades Fire wiped out the neighborhood. Kehillat Israel is home to almost one thousand Jewish families, a third of whom lost their homes in the fires.

“It was an honor to see the resilience of the Kehillat Israel community. To know their place of worship still standing is nothing short of a miracle, and watching the clergy and congregants coming together to pray, learn, and support each other is inspiring. Pacific Palisades will build back stronger than ever, and KI will continue to be a leader in that recovery.”

Governor Gavin Newsom

Founded in Pacific Palisades in 1950, Kehillat Israel has been in its current building since October 26, 1997. It is a center of the community for Jews of all faiths across West Los Angeles, and includes a parenting center, Early Childhood Center (pre-school and TK), and K-12 and senior programming.

Today’s convening took place at Beth Shir Shalom, a synagogue in Santa Monica where some of Kehillat Israel’s programming is currently being held.

Support for the Palisades

Governor Newsom was on the ground in Pacific Palisades 50 minutes after the Palisades Fire first broke out in the Palisades Highlands. He has since toured the Palisades Village with first responders several times, visited the destroyed homes of Palisadians, and volunteered with Project Angel Food to assist survivors. He continues to meet with survivors, leaders, and local officials to ensure that the Palisades has all it needs to recover and rebuild.

Get help today

Californians can go to CA.gov/LAfires – a hub for information and resources from state, local and federal government.

Individuals and business owners who sustained losses from wildfires in Los Angeles County can apply for disaster assistance:

If you use a relay service, such as video relay service (VRS), captioned telephone service or others, give FEMA the number for that service.

Press Releases, Recent News

Recent news

Jan 28, 2025

News Dodgers Chairman Mark Walter, Mark Walter Family Foundation, and Los Angeles Dodgers Foundation will provide an initial commitment of up to $100 million LA Rises will support city and county efforts to help accelerate recovery LOS ANGELES — In the wake of one…

Jan 27, 2025

News LOS ANGELES — Scientists, water managers, state leaders, and experts throughout the state are calling out the federal administration’s ongoing misinformation campaign on water management in California. Here is a snapshot of what water leaders and media are saying…

Jan 25, 2025

News SACRAMENTO – Governor Gavin Newsom today announced the following appointments:Bret Ladine, of Sacramento, has been appointed Director of the Financial Information System for California (FI$Cal). Ladine has been General Counsel at the California State…
Jan 28, 2025

What you need to know: The passage of Proposition 1 by California voters adds rocket fuel to Governor Gavin Newsom’s transformational overhaul of the state’s behavioral health system. These reforms refocus existing funds to prioritize Californians with the most serious mental health and substance use issues, who are too often experiencing homelessness. They also fund more than 11,150 new behavioral health beds and supportive housing units and 26,700 outpatient treatment slots.

Los Angeles, California – California took a major step forward in correcting the damage from 50 years of neglect to the state’s mental health system with the passage of Proposition 1. This historic measure — a signature priority of Governor Gavin Newsom — adds rocket fuel to California’s overhaul of the state’s behavioral health systems. It provides a full range of mental health and substance abuse care, with new accountability metrics to ensure local governments deliver for their communities.

This is the biggest reform of the California mental health system in decades and will finally equip partners to deliver the results all Californians need and deserve. Treatment centers will prioritize mental health and substance use support in the community like never before. Now, it’s time to roll up our sleeves and begin implementing this critical reform – working closely with city and county leaders to ensure we see results.

Governor Gavin Newsom

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What they’re saying:

Sacramento Mayor Darrell Steinberg, original author of the Mental Health Services Act: “Twenty years ago, I never could have dreamed that we would have the strong leadership we have today, committing billions and making courageous policy changes that question the conventional wisdom on mental health. Now, with the passage of Proposition 1. California is delivering on decades old promises to help people living with brain-based illnesses, to live better lives, to live independently and to live with dignity in our communities. This is a historic moment and the hard work is ahead of us.“

Senator Susan Eggman (D-Stockton), author of Senate Bill 326: “Today marks a day of hope for thousands of Californians who are struggling with mental illness – many of whom are living unhoused. I am tremendously grateful to my fellow Californian’s for passing this important measure. And I am very appreciative of this Governor’s leadership to transform our behavioral health care system!”

Assemblymember Jacqui Irwin (D-Thousand Oaks), author of Assembly Bill 531: “This started as an audacious proposal to address the root cause of homelessness and today, Californians can be proud to know that they did the right thing by passing Proposition 1. Now, it’s time for all of us to get to work, and make sure these reforms are implemented and that we see results.”

Bigger picture: Transforming the Mental Health Services Act into the Behavioral Health Services Act and building more community mental health treatment sites and supportive housing is the last main pillar of Governor Newsom’s Mental Health Movement – pulling together significant recent reforms like 988 crisis line, CalHOPE, CARE Court, conservatorship reform, CalAIM behavioral health expansion (including mobile crisis care and telehealth), Medi-Cal expansion to all low-income Californians, Children and Youth Behavioral Health Initiative (including expanding services in schools and on-line), Older Adult Behavioral Health Initiative, Veterans Mental Health Initiative, Behavioral Health Community Infrastructure Program, Behavioral Health Bridge Housing, Health Care Workforce for All and more.

More details on next step here

Press Releases, Recent News
Recent news

Jan 28, 2025

News Dodgers Chairman Mark Walter, Mark Walter Family Foundation, and Los Angeles Dodgers Foundation will provide an initial commitment of up to $100 million LA Rises will support city and county efforts to help accelerate recovery LOS ANGELES — In the wake of one…

Jan 27, 2025

News LOS ANGELES — Scientists, water managers, state leaders, and experts throughout the state are calling out the federal administration’s ongoing misinformation campaign on water management in California. Here is a snapshot of what water leaders and media are saying…

Jan 25, 2025

News SACRAMENTO – Governor Gavin Newsom today announced the following appointments:Bret Ladine, of Sacramento, has been appointed Director of the Financial Information System for California (FI$Cal). Ladine has been General Counsel at the California State…
MIL OSI USA News –
January 30, 2025
MIL-OSI USA: 2025-09 STATE OF HAWAIʻI JOINS 21 STATES AND DISTRICT OF COLUMBIA TO STOP TRUMP ADMINISTRATION FROM WITHHOLDING ESSENTIAL FEDERAL FUNDING

Source: US State of Hawaii

2025-09 STATE OF HAWAIʻI JOINS 21 STATES AND DISTRICT OF COLUMBIA TO STOP TRUMP ADMINISTRATION FROM WITHHOLDING ESSENTIAL FEDERAL FUNDING

Posted on Jan 28, 2025 in Latest Department News, Newsroom

STATE OF HAWAIʻI

KA MOKU ʻĀINA O HAWAIʻI

DEPARTMENT OF THE ATTORNEY GENERAL

KA ʻOIHANA O KA LOIO KUHINA

JOSH GREEN, M.D.
GOVERNOR

KE KIAʻĀINA

ANNE LOPEZ

ATTORNEY GENERAL

LOIO KUHINA

STATE OF HAWAIʻI JOINS 21 STATES AND DISTRICT OF COLUMBIA TO STOP TRUMP ADMINISTRATION FROM WITHHOLDING ESSENTIAL FEDERAL FUNDING

New Trump Administration Policy Would Block Trillions in Funding for Health, Education, Law Enforcement, Disaster Relief, and Other Essential State Programs

News Release 2025-09

FOR IMMEDIATE RELEASE

January 28, 2025

HONOLULU – Attorney General Anne Lopez today joined a coalition of 22 attorneys general suing to stop the implementation of a new Trump administration policy that orders the withholding of trillions of dollars in funding that every state in the country relies on to provide essential services to millions of Americans.

The new policy, issued by the President’s Office of Management and Budget (OMB), puts an indefinite pause on the majority of federal assistance to states. The policy would immediately jeopardize state programs that provide critical health and childcare services to families in need, deliver support to public schools, combat hate crimes and violence against women, provide life saving disaster relief to states, and more.

Attorney General Lopez and the coalition of attorneys general are seeking a court order to immediately stop the enforcement of the OMB policy and preserve essential funding.

“We are aware of U.S. District Court Judge Loren L. AliKhan’s ruling which blocks the federal grant and loan freeze until Monday,” said Attorney General Lopez. “It is imperative that we continue with our court filing to make sure that the enforcement of the OMB policy is halted.”

Attorney General Lopez continued: “The people of Hawaiʻi pay the federal government millions upon millions of dollars in taxes every year, and the people of this state are entitled to receive a broad array of federal funds to pay for law enforcement and other crucial programs in accordance with federal law. And the impacts of this policy withholding federal funds have already been realized in our state. Neither the President of the United States nor an acting federal budget official can unilaterally upend federal law and cause such mass uncertainty in the Hawaiʻi and our sister states by withholding federal funds authorized by law. The Department of the Attorney General will stand up for the rule of law in this nation.”

The OMB policy, issued late on January 27, directs all federal agencies to indefinitely pause the majority of federal assistance funding and loans to states and other entities beginning at 5:00 pm today, January 28. As Attorney General Lopez and the coalition note in their lawsuit, OMB’s policy has caused immediate chaos and uncertainty for millions of Americans who rely on state programs that receive these federal funds. Essential community health centers, addiction and mental health treatment programs, services for people with disabilities, and other critical health services are jeopardized by OMB’s policy.

Attorney General Lopez and the coalition also argue that jeopardizing state funds will put Americans in danger by depriving law enforcement of much-needed resources. OMB’s policy would pause support for U.S. Department of Justice initiatives to combat hate crimes and violence against women, stop drug interdiction, support community policing, and provide services to victims of crimes. In addition, Attorney General Lopez and the coalition of attorneys general note that the OMB policy would halt essential disaster relief funds to places like California and North Carolina, where tens of thousands of residents are relying on FEMA grants to rebuild their lives after devastating wildfires and floods.

While the administration has attempted to clarify the scope and meaning of the OMB policy, states have already reported that funds have been frozen. As part of their lawsuit, Attorney General Lopez and the coalition of attorneys general argue that OMB’s policy violates the Constitution and the Administrative Procedure Act by imposing a government-wide stop to spending without any regard for the laws and regulations that govern each source of federal funding. The attorneys general argue that the president cannot decide to unilaterally override laws governing federal spending, and that OMB’s policy unconstitutionally overrides Congress’ power to decide how federal funds are spent.

Joining Attorney General Lopez in the lawsuit are the attorneys general of Arizona, California, Colorado, Connecticut, Delaware, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Mexico, New York, North Carolina, Oregon, Rhode Island, Vermont, Washington, Wisconsin, and the District of Columbia.

The Complaint can be found here.

# # #

Media contacts:

Dave Day

Special Assistant to the Attorney General

Office: 808-586-1284

Email: [email protected]

Web: http://ag.hawaii.gov

Toni Schwartz
Public Information Officer
Hawai‘i Department of the Attorney General
Office: 808-586-1252
Cell: 808-379-9249
Email: [email protected]

Web: http://ag.hawaii.gov

MIL OSI USA News –

January 30, 2025
MIL-OSI USA: Office of the Governor — News Release — Governor Green Applauds Federal Judge for Halting Funding Freeze

Source: US State of Hawaii

Office of the Governor — News Release — Governor Green Applauds Federal Judge for Halting Funding Freeze

Posted on Jan 28, 2025 in Latest Department News, Newsroom, Office of the Governor Press Releases

STATE OF HAWAIʻI
KA MOKU ʻĀINA O HAWAIʻI

JOSH GREEN, M.D.
GOVERNOR
KE KIAʻĀINA

GOVERNOR GREEN APPLAUDS FEDERAL JUDGE FOR HALTING FUNDING FREEZE

FOR IMMEDIATE RELEASE
January 28, 2025

HONOLULU — Governor Josh Green, M.D., applauds the ruling by a federal court judge today, blocking the order by President Trump to freeze federal funding for crucial programs serving Americans. The Governor stands in strong opposition to President Trump’s executive order pausing federal disbursements, which has caused a great deal of chaos, confusion and uncertainty.

“The presidential order seeks to prevent the people of Hawai‘i from receiving crucial services funded by the millions of dollars they pay to the federal government each year. This cannot stand,” said Governor Green. “My administration is currently assessing the impact of this pause on essential state programs and services, including education, health care, social services, and wildfire recovery. For those programs that are found to be impacted, the state of Hawai‘i will work to develop alternate plans to ensure that key services for local residents are continued. The state Attorney General has joined other states in initiating legal action to challenge the federal administration’s actions, as Hawai‘i has already encountered impacts of this threatened funding freeze.”

The U.S. Office of Management and Budget (OMB) issued a memorandum on January 27, 2025, which requires federal agencies to complete a comprehensive analysis of all of their federal financial assistance programs to identify programs, projects and activities that may be impacted by any of the president’s executive orders. During this review period, the obligation and disbursement of federal funds were to be paused effective January 28, 2025 at 5:00 p.m.

“The OMB has since issued clarification guidance indicating that any program that provides direct benefits to individuals is not subject to the pause, such as Medicaid, SNAP or Social Security benefits, among others,” said state Department of Budget and Finance Director Luis Salaveria.

“The Department of Accounting and General Services (DAGS) has several divisions or attached agencies that would be affected,” said state Comptroller Keith Regan. “The main impact would be to our public arts initiatives in the State Foundation of Culture and the Arts. Indirectly, it is possible the Archives may need to halt projects funded by its federal grants and our State Procurement Office’s Surplus Property Program may be affected by the pause in funding.”

The Hawai‘i Department of Transportation is working with the Trump Administration on clarifications to the OMB memo, including its impacts on obligated formula projects and discretionary funds.

The state Department of Law Enforcement welcomed the OMB’s clarification memo, but is still seeking final determination of impacts from federal partners.

“The Hawaiʻi Department of Labor and Industrial Relations (DLIR) is deeply concerned about the temporary pause on federal financial assistance and its potential impacts on our ability to deliver essential services,” said DLIR Director Jade T. Butay. “A significant portion of our operations, including workforce development, unemployment insurance, job training and workplace safety through our Occupational Safety and Health division, is supported by federal funds. Any disruption to these critical programs could affect workers, employers and communities statewide. We are actively monitoring the situation and are awaiting further guidance from the U.S. Department of Labor to understand the full scope of the impacts and next steps. We remain committed to serving the people of Hawaiʻi and ensuring the continuity of essential programs.”

The State of Hawaiʻi Department of Defense (HIDOD) (comprising the Hawaiʻi National Guard, Hawaiʻi Emergency Management Agency, Office of Veterans’ Services and Civilian Military Programs) evaluated potential impacts to its core mission to enable a safe, secure, and thriving state of Hawaiʻi. HIDOD relies on approximately $88M in federal funding for its annual operating budget; about $350M to administer its Hazardous Mitigation Program Grant; close to $25M for its Emergency Management Program Grant, and anticipates approximately $56M in FEMA reimbursement for the recent Maui Wildfires disaster response and recovery. It also receives federal grant funding for the High Intensity Drug Trafficking Areas (HIDTA) program to synergize its counter-narcotics efforts with federal, state and county law enforcement agencies.

“While these federal programs are being reviewed by OMB, there’s no immediate impact to operate, retain qualified personnel, and continue to protect the citizens of the state of Hawaiʻi,”, said Maj. Gen. Stephen Logan, State Adjutant General.

The Hawaiʻi State Public Library System (HSPLS) receives about $1.5M in Library Services and Technology Act funding that ensures that all local residents have access to library materials, technology in the library to connect to the Internet, and online databases that provide equal access to information and learning opportunities no matter where they live. The suspension of this funding will cause our communities to face limited access to information that supports their health, business, education and ability to connect to the world. Specifically, students will not have free access to test preparation and families will not have easy access to legal forms to support their needs.

HSPLS also is a recipient and partner for two digital equity projects. One provides basic digital literacy classes in all of our communities through May of this year. The second is part of the Federal Broadband Equity Access Deployment (BEAD) funding received by the University of Hawaiʻi. The funding supports Digital Literacy Navigators in all public libraries to ensure our patrons have access to learning the digital literacy skills they need to be successful.

Governor Green and his administration will continue to work to support the people of Hawai‘i, prioritizing affordability, housing, reducing homelessness, increasing food security and more, to allow the residents of the islands to live and thrive in the place they love and call home.

# # #

Media Contacts:  
Erika Engle
Press Secretary
Office of the Governor, State of Hawai‘i
Phone: 808-586-0120
Email: [email protected]

Makana McClellan
Director of Communications
Office of the Governor, State of Hawaiʻi
Cell: 808-265-0083
Email: [email protected]

MIL OSI USA News –

January 30, 2025
MIL-OSI Europe: VATICAN/GENERAL AUDIENCE – Pope Francis: Saint Joseph, the man who “trusts in God.”

Source: Agenzia Fides – MIL OSI

Wednesday, 29 January 2025

Vatican Media

Vatican City (Agenzia Fides) – “Factores Verbi”, that is, he who “puts the Word of God into practice”, “translating it into deeds, flesh, life”. This expression, coined by the apostle James in his letter, well defines the figure and the entire existence of St. Joseph, the legal father of Jesus. This was underlined by Pope Francis during the general audience this Wednesday.In his jubilee catechesis on the theme “Jesus, our hope”, Pope Francis reflected today on the figure of St. Joseph, highlighting his role in the history of salvation as a man who fully trusted in God. Drawing on the Gospel of Matthew, the Pontiff recalled the passage in which an angel appears to Joseph in a dream, revealing to him the mystery of Mary’s conception. “Joseph does not utter a word” in the face of this divine manifestation. “He trusts in God and obeys”.He, who “enters the scene in the Gospel of Matthew as Mary’s betrothed”, when he “discovers Mary’s pregnancy, and his love is put to the test”. Faced with a similar situation, “which would have led to the termination of the betrothal, the Law suggested two possible solutions: either a legal act of a public nature, such as the convocation of the woman in court, or a private action such as giving the woman a letter of repudiation”.But Joseph, whom the Gospel defines as “righteous”, “following the Word of God, Joseph acts thoughtfully: he does not let himself be overcome by instinctive feelings and fear of accepting Mary with him, but prefers to be guided by divine wisdom. He chooses to part with Mary quietly, privately. And this is Joseph’s wisdom, which enables him not to make mistakes and to make himself open and docile to the voice of the Lord”. And so he hears a voice that resonates in him through his dream, an element that “in this way, Joseph of Nazareth brings to mind another Joseph, son of Jacob, dubbed the “lord of dreams”, greatly beloved by his father and much loathed by his brothers, whom the Lord raised up by having him sit in the Pharaoh’s court.”Faced with this revelation, “Joseph does not ask for further proof; he trusts. Joseph trusts in God, he accepts the God’s dream of his life and that of his betrothed. He thus enters into the grace of one who knows how to live the divine promise with faith, hope and love,” the Pope added, concluding: “Let us, too, ask the Lord for the grace to listen more than we speak, the grace to dream God’s dreams and to welcome responsibly the Christ who, from the moment of our baptism, lives and grows in our life.”At the end of the General Audience, in his greeting in various languages, Pope Francis addressed a special thought to Chinese Catholics, recalling that “in East Asia and in various parts of the world, millions of families are celebrating the Lunar New Year today, an opportunity to live family and friendship relationships more intensely. With my best wishes for the New Year, may my blessing reach you all, while I invoke peace, serenity and health from the Lord for each one of you.” The Pontiff also asked for the intercession of St. Joseph “who loved Jesus with a paternal love,” so that “he may be close to so many children who have no family and long for a father and a mother.” “May the Lord bless you all and always protect you from all evil,” he added in his greeting to the Arabic-speaking pilgrims.Finally, the Pope made an urgent appeal for an end to violence in the Democratic Republic of Congo, a situation that continues “with concern.” “I urge all parties to the conflict to commit themselves to the cessation of hostilities and to the protection of the civilian population of Goma and other areas affected by military operations. I am also following with concern what is happening in the capital, Kinshasa. We hope that all forms of violence against people and their property will cease as soon as possible. While I pray for the prompt restoration of peace and security, I appeal to the local authorities and the international community to do everything possible to resolve the conflict situation by peaceful means.” (F.B.) (Agenzia Fides, 29/1/2025)
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MIL OSI Europe News –

January 30, 2025
MIL-OSI Europe: ASIA/INDIA – Bishop of Manipur: “The situation is polarized: we need peacemakers”

Source: Agenzia Fides – MIL OSI

Imphal (Agenzia Fides) – “There is less violence in Manipur today than a year ago, thanks to the massive presence of the Indian armed forces: more than 70,000 soldiers are deployed in all the buffer zones that separate the two conflicting communities. But the situation remains tense and very polarized. An official ceasefire and concrete mediation measures for pacification are needed. We need peacemakers”, explains to Fides Archbishop Linus Neli of Imphal, capital of the Indian state of Manipur, describing the situation in this state in northeastern India, where an inter-ethnic conflict broke out between the Meitei and Kuki-zo communities in May 2023. To avoid clashes, the temporary solution found by the local government was to separate the belligerents into isolated territories. Constructive steps towards peace are lacking today. Manipur Finance Minister N. Biren Singh said on Sunday that “the government is working for the development of the state” and that it intends to work “for a new Manipur, where peace and love for the past will reign.”Bishop Neli says he is encouraged by this prospect, which, he stresses, must necessarily start from listening to the two conflicting communities: “The two communities,” he notes, “cannot cross into each other’s territory because of the 24-hour surveillance by armed men. In the Meitei community, Christians present report a climate of repression. The Kuki Zo, for their part, are fighting fiercely for a separate administration, which goes against the wishes of the Meitei majority. The Meitei are for the territorial integrity of Manipur and are demanding the status of “recognized tribe,” which has been the cause of intercommunal violence. Today, he says, in this situation, “there is no spontaneous political solution in sight until the state government and the central government work on it.”At the social level, worrying phenomena are manifesting themselves: “The increase in drug trafficking, armed militancy by people who procure weapons, increasing cases of extortion: in other words, crime thrives on the difficulties of the state and the central government in ensuring security,” says the bishop, who notes that “society is highly polarized.” “Only members of neutral communities or other ethnic groups such as the Nagas are allowed to cross the border between the strictly closed areas of the Meitei and the Kuki,” reports Bishop Neli. “The local Church,” he says, “with its religious priests and lay people, continues to provide humanitarian assistance: we are engaged in building houses, providing livelihoods, education, psychosocial support. In addition, he reports, Christians are active and involved in an interfaith forum that is constantly trying to bring the parties to dialogue and peace. We are now calling for a formal truce and a pact, so that civilians can move safely on national roads and have free access to the airport and medical facilities,” he hopes.The Catholic faithful of Manipur, who are part of both the Kuki and the Meitei, are facing the same difficulties and are unable to move, which is impacting the celebrations and activities of the Church: “On the occasion of the Jubilee,” he says, “we celebrated the solemn opening Eucharist in the cathedral, which is in Meitei territory. The Archbishop Emeritus opened another holy door in another church for the Kuki Zo who cannot come here, in the city cathedral. We therefore allow everyone to pray and benefit from the plenary indulgence. We have set the theme of hope for 2025 and a nine-year programme that will lead us to the Jubilee of 2033. We really hope that it will be a journey marked by peace and reconciliation.” (PA) (Agenzia Fides, 29/1/2025)
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MIL OSI Europe News –

January 30, 2025
MIL-OSI Europe: Press release – Holocaust Remembrance Day: a story dedicated to its six million victims

Source: European Parliament 3

On Wednesday, Corrie Hermann, daughter of cellist and Holocaust victim Pál Hermann, addressed MEPs in a plenary session marking International Holocaust Remembrance Day

President Roberta Metsola opened the ceremony, which also marked the 80th anniversary of the liberation of the Auschwitz-Birkenau concentration camp on 27 January.

“We can never forget, and we must act. Ours is the last generation to have the privilege of knowing Holocaust survivors, and hearing their stories first-hand. Their voices, their courage, their memories are a bridge to a past that must never be forgotten. Because even after the horrors of the Holocaust, antisemitism did not disappear. It persisted. It evolved.

Memory is a duty. A responsibility to ensure that “never again” is not an empty promise.

This European Parliament will always remember. And we will always speak up – just as our first woman President Simone Veil, herself a survivor, taught us to do. Her legacy reminds us that neutrality helps only the oppressor, never the victim. This Parliament will always stand for dignity. For hope. For humanity”, she said. President Metsola’s speech was followed by a musical performance featuring Hermann’s original Gagliano cello.

In her address Corrie Hermann shared the story of how her father, Hungarian composer and cellist Pál Hermann, considered as one of the finest cellists of his time, was murdered by the Nazis in 1944. “This story about one Holocaust victim is dedicated to every one of the six million victims whom we deplore today”, she said.

Ms Hermann recounted her father’s life as a musician, from his education at the Franz Liszt Academy in Budapest to performing on Europe’s most prestigious stages. After fleeing to Belgium and France, he was arrested in Toulouse in a street raid in April 1944, and transported to Drancy the camp near Paris from where the transports for the concentration camps departed. From there he was deported to the Kaunas concentration camp in Lithuania. While the train was waiting at the station, he managed to throw a note from the train, asking for his Gagliano cello to be saved. The note was found and sent to his brother-in-law, who replaced the Gagliano with a lesser instrument and escaped with the cello strapped to his back. “We don’t know what happened next, but only a handful of the 900 prisoners returned after the war,” she recalled.

Despite his tragic fate, Hermann’s music continues to inspire people across the world. Over 80 years after his death, his Gagliano cello was rediscovered and his compositions have been performed by renowned international artists. “Hitler burned books, destroyed paintings, and murdered millions; but music is invincible,” Corrie Hermann said.

Following the speech, MEPs observed a minute’s silence. The ceremony ended with a musical performance of “Kaddish” by Maurice Ravel.

Watch the ceremony here.

About Pál and Corrie Hermann

Pál Hermann, born on 27 March 1902 in Budapest, was a renowned Hungarian cellist and composer. During the 1920s, he moved to Berlin and performed across Europe on his Gagliano cello. In 1933, Hermann fled to Belgium and later to France. Arrested by the Nazis in Toulouse in 1944, Hermann was then murdered by the Nazis in Lithuania months later.

Corrie (Cornelia) Hermann, born in Amersfoort (The Netherlands) on 4 August 1932, is a retired doctor and former politician. In 1996, she founded the Paul Hermann Fund to support young professional cellists.

MIL OSI Europe News –

January 30, 2025
MIL-OSI Africa: African Energy Meets Mining: Top 5 Reasons to Attend African Mining Week (AMW) 2025

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

CAPE TOWN, South Africa, January 29, 2025/APO Group/ —

African Mining Week (AMW) 2025 – held under the theme, From Extraction to Beneficiation: Unlocking Africa’s Mineral Wealth – will highlight the continent’s focus on advancing local beneficiation and industrial development. Organized by Energy Capital & Power (www.EnergyCapitalPower.com), AMW brings together global mining and energy stakeholders to explore and maximize the opportunities arising from the energy-mining nexus within Africa.

Explore Africa’s Mining Potential

Africa is home to 30% of the world’s critical minerals, including lithium, cobalt and copper, along with a significant share of traditional minerals such as gold, diamonds and iron ore. This makes the continent an unparalleled destination for investors, manufacturers and developers. AMW 2025 will offer insights into recent mineral discoveries, available exploration basins and innovative infrastructure projects designed to strengthen Africa’s position in global supply chains. From exploration to processing and manufacturing, AMW will demonstrate Africa’s capacity for sustainable economic growth through value addition.

Connect Energy and Mining Stakeholders Under One Roof

Held concurrently with the African Energy Week: Invest in African Energies conference, AMW 2025 will emphasize the crucial link between the energy and mining sectors. By bringing these stakeholders together, AMW will showcase how both industries are leveraging traditional and emerging energy solutions to enhance mining operations. Discussions will focus on how the synergy between energy and mining can unlock new opportunities for the development of local and regional economies, as well as share insights into energy-efficient technologies and renewable energy solutions.

Gain Exclusive Insights and Opportunities

AMW 2025 will feature country spotlights, mineral showcases and technology displays, providing attendees with the latest information on exploration opportunities and available basins in Africa. The event will also include a Ministerial Forum and an Investment Forum, offering firsthand access to African ministers, investment banks and project developers. This will give delegates the unique chance to discuss strategic projects and collaborations directly with key decision-makers.

Forge Strategic Partnerships

With countries such as Zimbabwe, Angola, Botswana, Ghana, the Democratic Republic of Congo and Mali securing new investments, AMW 2025 will serve as an ideal platform for these markets to build on the increasing investment flow. Focused on unlocking Africa’s mineral wealth and capital influx, AMW 2025 provides a prime setting for deal signings and the formation of new partnerships. Delegates will be able to network with a wide range of industry leaders and innovators, creating opportunities for cross-sector collaborations.

Discover Cutting-Edge Technologies and Innovations

AMW 2025 will feature a variety of technological showcases and discussions highlighting the latest innovations in mining and energy. Attendees will have the chance to explore advancements in mining equipment, automation and energy-efficient technologies that are transforming the industry. By engaging with technology providers and solution developers, participants will gain a competitive edge in understanding how these innovations can be applied to enhance operational efficiency and sustainability.

African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energy 2025 conference (www.AECWeek.com) from October 1 -3. in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@EnergyCapitalPower.com

MIL OSI Africa –

January 30, 2025
MIL-OSI: Carbon Streaming Announces Project Update

Source: GlobeNewswire (MIL-OSI)

TORONTO, Jan. 29, 2025 (GLOBE NEWSWIRE) — Carbon Streaming Corporation (Cboe CA: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) today provided a project update with respect to the Purchase and Sale Agreement dated as of May 9, 2023, as amended pursuant to that First Amending Agreement, dated as of February 7, 2024 (the “Sheep Creek Stream”), among Carbon Streaming, Mast Reforestation SPV I, LLC (“Mast”) and its parent company DroneSeed Co., d/b/a Mast Reforestation (“Mast Parent Co”).

Carbon Streaming has received a Notice of Adverse Impact from Mast and Mast Parent Co under the Sheep Creek Stream Agreement pursuant to which, among other things, Mast advised Carbon Streaming that the Sheep Creek project has experienced significantly higher than expected mortality rates and that the surviving seedlings had exhibited slower than expected growth rates. As a result, Mast indicated to Carbon Streaming that it no longer expects to deliver the agreed-upon 286,229 forecast mitigation units to Carbon Streaming under the Sheep Creek Stream, as Mast no longer considers the existing Sheep Creek project plan and budget to be viable. Carbon Streaming has formally responded to the Notice of Adverse Impact and requested that Mast respond to Carbon Streaming’s significant concerns regarding, among other things, the timing of the delivery of the Notice of Adverse Impact, and the characterization of the cause of the adverse impact. The Company is continuing to evaluate all legal avenues available under the Sheep Creek Agreement.

The Company had entered into a project pipeline streaming agreement (the “Pipeline Agreement”) for up to US$15 million with Mast and Mast Parent Co, to advance its pipeline of post-wildfire reforestation projects in the Western USA. Carbon Streaming also invested US$2 million into Mast Parent Co through a convertible note (the “Convertible Note”). In October 2023, the Convertible Note was converted into preferred shares of Mast Parent Co upon the execution of a qualifying financing event, resulting in 1.3 million preferred shares of Mast Parent Co (the “Preferred Shares”) being issued to the Company at a fair value of $2.6 million. The Company expects that the facts described above will materially decrease the fair value of the Sheep Creek Stream and the Preferred Shares on the Company’s consolidated financial statements.

About Carbon Streaming

The Company’s focus is on projects that generate high-quality carbon credits and have a positive impact on the environment, local communities, and biodiversity, in addition to their carbon reduction or removal potential. This approach aligns our strategic interests with those of project partners to create long-term relationships built on a shared commitment to sustainability and accountability and positions us as a trusted source for buyers seeking high-quality carbon credits.

ON BEHALF OF THE COMPANY:
Marin Katusa, Chief Executive Officer
Tel: 365.607.6095
info@carbonstreaming.com
www.carbonstreaming.com

Investor Relations
investors@carbonstreaming.com

Media
media@carbonstreaming.com

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking information”) within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking information, including, without limitation: statements regarding the feasibility of the project under the Sheep Creek Stream and the implications to the Company’s financial statements; statements regarding the fair value of the Sheep Creek Streaming and the Preferred Shares; and statements regarding the Company’s evaluation of legal avenues under the Sheep Creek Stream.

When used in this news release, words such as “estimates”, “expects”, “plans”, “anticipates”, “will”, “believes”, “intends” “should”, “could”, “may” and other similar terminology are intended to identify such forward-looking statements. This forward-looking information is based on the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. They should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. Factors that could cause actual results or events to differ materially from current expectations include, among other things: future engagement with Mast after the date hereof in respect of the Sheep Creek Stream and matters related thereto and arising therefrom; general economic, market and business conditions and global financial conditions, including fluctuations in interest rates, foreign exchange rates and stock market volatility; volatility in prices of carbon credits and demand for carbon credits; change in social or political views towards climate change, carbon credits and ESG initiatives and subsequent changes in corporate or government policies or regulations and associated changes in demand for carbon credits; limited operating history for the Company’s current strategy; risks arising from competition and future acquisition activities; concentration risk; inaccurate estimates of growth strategy; dependence upon key management; impact of corporate restructurings; reputational risk; failure or timing delays for projects to be registered, validated and ultimately developed and for emission reductions or removals to be verified and carbon credits issued (and other risks associated with carbon credits standards and registries); foreign operations and political risks including actions by governmental authorities, including changes in or to government regulation, taxation and carbon pricing initiatives; uncertainties and ongoing market developments surrounding the validation and verification requirements of the voluntary and/or compliance markets; due diligence risks, including failure of third parties’ reviews, reports and projections to be accurate; dependence on project partners, operators and owners, including failure by such counterparties to make payments or perform their operational or other obligations to the Company in compliance with the terms of contractual arrangements between the Company and such counterparties; failure of projects to generate carbon credits, or natural disasters such as flood or fire which could have a material adverse effect on the ability of any project to generate carbon credits; volatility in the market price of the Company’s common shares or warrants; the effect that the issuance of additional securities by the Company could have on the market price of the Company’s common shares or warrants; global health crises, such as pandemics and epidemics; and the other risks disclosed under the heading “Risk Factors” and elsewhere in the Company’s Annual Information Form dated as of March 27, 2024 filed on SEDAR+ at www.sedarplus.ca.

Any forward-looking information speaks only as of the date of this news release. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.

The MIL Network –

January 30, 2025

MIL-OSI: Hanover Bancorp, Inc. Reports 2024 Full Year And Fourth Quarter Results Highlighted by Fourth Quarter Robust Margin Expansion and Record Non-interest Income

Source: GlobeNewswire (MIL-OSI)

Fourth Quarter Performance Highlights

Net Income: Net income for the quarter ended December 31, 2024 totaled $3.9 million or $0.52 per diluted share (including Series A preferred shares).
Record Non-interest Income: The Company reported record non-interest income of $4.2 million for the quarter ended December 31, 2024, an increase of $0.2 million or 5.89% from the quarter ended September 30, 2024 and $0.9 million or 28.67% from the quarter ended December 31, 2023.
Net Interest Income: Net interest income was $13.8 million for the quarter ended December 31, 2024, an increase of $0.7 million or 5.39% from the quarter ended September 30, 2024 and $1.1 million, or 9.08% from the quarter ended December 31, 2023.
Net Interest Margin: The Company’s net interest margin during the quarter ended December 31, 2024 increased to 2.53% from 2.37% in the quarter ended September 30, 2024 and 2.40% in the quarter ended December 31, 2023.
Strong Liquidity Position: At December 31, 2024, undrawn liquidity sources, which include cash and unencumbered securities and secured and unsecured funding capacity, totaled $713.1 million, or approximately 283% of uninsured deposit balances.
Deposit Activity: Core deposits, consisting of Demand, NOW, Savings and Money Market, increased $3.1 million or 0.84% annualized from September 30, 2024 and $74.1 million or 5.36% from December 31, 2023. Demand deposits increased $5.3 million or 10.33% annualized from September 30, 2024 and $3.9 million or 1.86% from December 31, 2023. Total deposits increased $49.7 million or 2.61% from December 31, 2023. Insured and collateralized deposits, which include municipal deposits, accounted for approximately 87% of total deposits at December 31, 2024.

Loan Diversification Strategy: The continued success in loan diversification resulted in C&I loans increasing by $61.0 million, or 56.52%, year over year, increasing to 8.51% of total loans at December 31, 2024. In addition, the commercial real estate concentration ratio improved, declining from 432% of capital at December 31, 2023 to 385% of capital at December 31, 2024. The Company continues to focus loan growth primarily in residential loan products originated for sale to specific buyers in the secondary market, C&I and SBA loans, which strategically enhances our management of liquidity and capital while producing additional non-interest income.
Asset Quality: At December 31, 2024, the Bank’s asset quality remained solid with non-performing loans totaling $16.4 million, representing 0.82% of the total loan portfolio, while the allowance for credit losses was 1.15% of total loans. Loans secured by office space accounted for 2.45% of the total loan portfolio with a total balance of $48.7 million, of which less than 1% is located in Manhattan.
Banking Initiatives: At December 31, 2024, the Company’s banking initiatives reflected continuing momentum:
- SBA & USDA Banking: Gains on sale of SBA loans totaled $2.5 million for the quarter ended December 31, 2024, representing a 9.76% increase over the comparable 2023 quarter. Total SBA loans sold were $30.9 million for the quarter ended December 31, 2024, representing a 3.98% increase over the comparable 2023 quarter. Premiums earned on the sale of SBA loans increased to 9.06% for the quarter ended December 31, 2024 from 8.26% for the quarter ended December 31, 2023.
- C&I Banking/Hauppauge Business Banking Center: The C&I Banking Team and the Hauppauge Business Banking Center increased deposits to $96.4 million as of December 31, 2024 from $44.9 million at December 31, 2023. This growth has continued since year end, with these deposits reaching $104 million at January 27, 2025. Loan originations tied to this office were $33.5 million during the fourth quarter of 2024 and $88.4 million for the full year. Momentum continues to build with deposit and C&I loan pipelines related to this office of $43 million and $112 million, respectively.
- Residential Lending: The Bank continues to originate loans for its portfolio and for sale in the secondary market under its recently developed flow origination program. Of the $26.1 million in closed loans originated in the quarter ended December 31, 2024, $11.7 million were originated for the Bank’s portfolio and reflected a weighted average yield of 6.88% before origination and other fees, which average 50-100 bps per loan, and a weighted average LTV of 62%. The remaining $14.4 million of closed loans were originated for sale in the secondary market. Under this program, the Bank produced total gains of $0.5 million and a resulting premium of 2.42% in the fourth quarter of 2024.
Technology: The Company expects to complete a core processing system conversion from its existing provider to FIS Horizon on or about February 15, 2025. This conversion is expected to deliver immediate and tangible benefits to the Bank’s operations and customers, offering material improvements in user interfaces, functionality and efficiency that will better support our commitment to a digital forward future on better financial terms.

Tangible Book Value Per Share: Tangible book value per share (including Series A preferred shares) was $23.86 at December 31, 2024, an increase of 9.97% annualized from $23.28 at September 30, 2024 and 6.00% from $22.51 at December 31, 2023.

Quarterly Cash Dividend: The Company’s Board of Directors approved a $0.10 per share cash dividend on both common and Series A preferred shares payable on February 19, 2025 to stockholders of record on February 12, 2025.

MINEOLA, N.Y., Jan. 29, 2025 (GLOBE NEWSWIRE) — Hanover Bancorp, Inc. (“Hanover” or “the Company” – NASDAQ: HNVR), the holding company for Hanover Community Bank (“the Bank”), today reported results for the quarter and year ended December 31, 2024 and the declaration of a $0.10 per share cash dividend on both common and Series A preferred shares payable on February 19, 2025 to stockholders of record on February 12, 2025.

Earnings Summary for the Quarter Ended December 31, 2024

The Company reported net income for the quarter ended December 31, 2024 of $3.9 million or $0.52 per diluted share (including Series A preferred shares), versus $3.8 million or $0.51 per diluted share (including Series A preferred shares) in the quarter ended December 31, 2023. Returns on average assets, average stockholders’ equity and average tangible equity were 0.70%, 7.98% and 8.87%, respectively, for the quarter ended December 31, 2024, versus 0.69%, 8.10% and 9.06%, respectively, for the comparable quarter of 2023.

While net interest income and non-interest income increased during the quarter ended December 31, 2024 compared to the quarter ended December 31, 2023, these gains were partially offset by an increase in non-interest expenses, particularly compensation and benefits. The increase in non-interest income is primarily related to the increases in the gain on sale of loans held-for-sale and loan servicing and fee income. This increase is reflective of the strengthening of secondary market premiums in connection with sales of SBA loans and the gains on the recently developed residential loan flow program. The increase in compensation and benefits expense in the fourth quarter of 2024 versus the comparable 2023 quarter was primarily related to lower deferred loan origination costs that were offset by lower incentive compensation expense resulting from reduced lending activity.

Net interest income was $13.8 million for the quarter ended December 31, 2024, an increase of $1.1 million, or 9.08%, versus the comparable 2023 quarter due to improvement of the Company’s net interest margin to 2.53% in the 2024 quarter from 2.40% in the comparable 2023 quarter. The yield on interest earning assets increased to 6.06% in the 2024 quarter from 5.91% in the comparable 2023 quarter, an increase of 15 basis points that was partially offset by a 5 basis point increase in the cost of interest-bearing liabilities to 4.24% in 2024 from 4.19% in the fourth quarter of 2023. The increase in the net interest margin was a result of the recent reductions in the Fed Funds effective rate and the liability sensitive nature of the Bank’s balance sheet.

Earnings Summary for the Year Ended December 31, 2024

For the year ended December 31, 2024, the Company reported net income of $12.3 million or $1.66 per diluted share (including Series A preferred shares), versus $13.6 million or $1.84 per diluted share (including Series A preferred shares) a year ago.

The decrease in net income recorded for the year ended December 31, 2024 from the comparable 2023 period resulted from an increase in the provision for credit losses and an increase in non-interest expense, which were partially offset by an increase in non-interest income. The year-over-year increase in the provision for credit losses was primarily related to the recording of a $4.0 million provision for credit losses in the June 2024 quarter that was mainly attributable to an ACL on an individually evaluated loan of $2.5 million and $1.1 million related to ongoing enhancements to the CECL model. The increase in non-interest income is primarily related to the increases in the gain on sale of loans held-for-sale and loan servicing and fee income which were partially offset by a decrease in other operating income. In September 2023, the Company settled ongoing litigation and received a settlement payment of $975 thousand which was recorded in other operating income. The increase in non-interest expense was primarily attributed to additional staff for the SBA, C&I Banking and Operations teams. The Company’s effective tax rate decreased to 24.62% for the year ended December 31, 2024 from 25.85% in the comparable 2023 period.

Net interest income was $53.1 million for the year ended December 31, 2024, an increase of $1.2 million, or 2.32% from the comparable 2023 period. The Company’s net interest margin was 2.44% in 2024 and 2.59% in 2023. The yield on interest earning assets increased to 6.12% in 2024 from 5.67% in 2023, an increase of 45 basis points that was offset by a 72 basis point increase in the cost of interest-bearing liabilities to 4.40% in 2024 from 3.68% in 2023 due to the rapid and significant rise in market interest rates.

Our imminent core system conversion is expected to position us to compete more effectively across all lines of business, as customers expect greater convenience and technological capabilities, and will enable the Bank to realize operational efficiencies while maximizing our customer appeal. The substantial improvement in features and functionality expected with the conversion will be achieved on better financial terms than under our current system, enabling us to realize a material gain in performance with no adverse impact to operating expenses.

Michael P. Puorro, Chairman and Chief Executive Officer, commented on the Company’s quarterly results: “We are pleased with fourth-quarter results. Notable increases in net interest margin, tangible book value, returns on average assets and average tangible equity complemented further improvement in our CRE concentration ratio and sound credit quality, bringing 2024 to a well-rounded conclusion. Building on this momentum, we enter 2025 with strong loan and deposit pipelines across our critical verticals, including C&I, SBA and Residential Banking and the benefit of diversified income streams. Ongoing performance will be enhanced by our pending core system conversion, which will deliver tangible operational efficiencies and customer benefits, and could be positively impacted by further Federal Open Market Committee (“FOMC”) rate decreases, an improved yield curve, a favorable banking environment and potential qualification for the Russell 2000, which would increase institutional ownership and enhance the liquidity of our stock. We continue to focus on scaling our key verticals while maintaining prudent expense management, which we believe will increase shareholder value through enhanced performance.”

Balance Sheet Highlights

Total assets at December 31, 2024 were $2.31 billion versus $2.27 billion at December 31, 2023. Total securities available for sale at December 31, 2024 were $83.8 million, an increase of $22.3 million from December 31, 2023, primarily driven by growth in U.S. Treasury securities, corporate bonds and mortgage-backed securities.

Total deposits at December 31, 2024 were $1.95 billion, an increase of $49.7 million or 2.61%, compared to $1.90 billion at December 31, 2023. Our loan to deposit ratio was 102% at December 31, 2024 and 103% at December 31, 2023.

The Company had $509.3 million in total municipal deposits at December 31, 2024, at a weighted average rate of 3.72% versus $528.1 million at a weighted average rate of 4.62% at December 31, 2023. The Company’s municipal deposit program is built on long-standing relationships developed in the local marketplace. This core deposit business will continue to provide a stable source of funding for the Company’s lending products at costs lower than those of consumer deposits and market-based borrowings. The Company continues to broaden its municipal deposit base and currently services 39 customer relationships.

Total borrowings at December 31, 2024 were $107.8 million, with a weighted average rate and term of 4.11% and 23 months, respectively. At December 31, 2024 and 2023, the Company had $107.8 million and $126.7 million, respectively, of term FHLB advances outstanding. The Company had no FHLB overnight borrowings outstanding at December 31, 2024 and 2023. At December 31, 2024 the Company had no borrowings outstanding from the Federal Reserve’s Paycheck Protection Program Liquidity Facility (“PPPLF”), while at December 31, 2023 the Company had $2.3 million in borrowings from the PPPLF. The Company had no borrowings outstanding under lines of credit with correspondent banks at December 31, 2024 and 2023.

Stockholders’ equity was $196.6 million at December 31, 2024 compared to $184.8 million at December 31, 2023. The $11.8 million increase was primarily due to an increase of $9.4 million in retained earnings and a decrease of $1.1 million in accumulated other comprehensive loss. The increase in retained earnings was due primarily to net income of $12.3 million for the year ended December 31, 2024, which was offset by $2.9 million of dividends declared. The accumulated other comprehensive loss at December 31, 2024 was 0.68% of total equity and was comprised of a $1.0 million after tax net unrealized loss on the investment portfolio and a $0.3 million after tax net unrealized loss on derivatives.

Loan Portfolio

For the year ended December 31, 2024, the Bank’s loan portfolio grew to $1.99 billion, an increase of $28.3 million or 1.45%. Growth was concentrated primarily in residential, SBA and C&I loans. At December 31, 2024, the Company’s residential loan portfolio (including home equity) amounted to $729.3 million, with an average loan balance of $483 thousand and a weighted average loan-to-value ratio of 57%. Commercial real estate and multifamily loans totaled $1.09 billion at December 31, 2024, with an average loan balance of $1.5 million and a weighted average loan-to-value ratio of 59%. As will be discussed below, approximately 37% of the multifamily portfolio is subject to rent regulation. The Company’s commercial real estate concentration ratio continued to improve, decreasing to 385% of capital at December 31, 2024 from 432% of capital at December 31, 2023, with loans secured by office space accounting for 2.45% of the total loan portfolio and totaling $48.7 million. The Company’s loan pipeline with executed term sheets at December 31, 2024 is approximately $237 million, with approximately 89% being niche-residential, conventional C&I and SBA & USDA lending opportunities.

The Bank’s investments in diversification continue to deliver results, with the volume of SBA & USDA loans originated for sale and the volume of residential loans originated for sale sustaining momentum. During the quarter ended December 31, 2024, the Company sold $19.1 million of residential loans under this program and recorded gains on sale of loans held-for-sale of $0.5 million. During the quarters ended December 31, 2024 and 2023, the Company sold approximately $30.9 million and $29.7 million, respectively, in the government guaranteed portion of SBA loans and recorded gains on sale of loans held-for-sale of $2.5 million and $2.3 million, respectively. We expect the volume of activity to increase in 2025. Because we continue to prioritize the management of liquidity and capital, new business development with respect to residential and SBA & USDA lending is largely focused on originations for sale over portfolio growth. Conversely, portfolio growth is the primary focus of our C&I Banking initiative, which continues to drive deposit and loan growth at our Hauppauge Business Banking Center and will expand with the pending launch of our Port Jefferson branch.

Commercial Real Estate Statistics

A significant portion of the Bank’s commercial real estate portfolio consists of loans secured by Multi-Family and CRE-Investor owned real estate that are predominantly subject to fixed interest rates for an initial period of 5 years. The Bank’s exposure to Land/Construction loans is minor at $13.5 million, all at floating interest rates, and CRE-owner occupied loans have a mix of floating rates. As shown below, 23% of the loan balances in these combined portfolios will mature in 2025 and 2026, with another 55% maturing in 2027.

Multi-Family Market Rent Portfolio Fixed Rate Reset/Maturity Schedule								Multi-Family Stabilized Rent Portfolio Fixed Rate Reset/Maturity Schedule
Calendar Period	# Loans	Total O/S ($000’s omitted)		Avg O/S ($000’s omitted)		Avg Interest Rate		Calendar Period	# Loans	Total O/S ($000’s omitted)		Avg O/S ($000’s omitted)		Avg Interest Rate

2025	10	$	16,416	$	1,642	4.30	%	2025	14	$	19,527	$	1,395	4.82	%
2026	36		118,503		3,292	3.66	%	2026	20		42,901		2,145	3.67	%
2027	71		176,490		2,486	4.30	%	2027	53		124,773		2,354	4.22	%
2028	18		29,858		1,659	6.15	%	2028	12		10,221		852	7.14	%
2029	6		4,957		826	7.70	%	2029	4		4,346		1,087	6.38	%
2030+	2		639		320	4.47	%	2030+	4		1,169		292	5.41	%
Fixed Rate	143		346,863		2,426	4.29	%	Fixed Rate	107		202,937		1,897	4.36	%
Floating Rate	3		716		239	9.22	%	Floating Rate	—		—		—	—	%
Total	146	$	347,579	$	2,381	4.30	%	Total	107	$	202,937	$	1,897	4.36	%

CRE Investor Portfolio Fixed Rate Reset/Maturity Schedule
Calendar Period	# Loans	Total O/S ($000’s omitted)		Avg O/S ($000’s omitted)		Avg Interest Rate

2025	30	$	23,439	$	781	6.12	%
2026	33		44,679		1,354	4.87	%
2027	90		163,358		1,815	5.03	%
2028	30		31,803		1,060	6.63	%
2029	4		2,378		595	7.03	%
2030+	12		5,745		479	6.24	%
Fixed Rate	199		271,402		1,364	5.33	%
Floating Rate	10		27,103		2,710	8.95	%
Total CRE-Inv.	209	$	298,505	$	1,428	5.66	%

Rental breakdown of Multi-Family portfolio

The table below segments our portfolio of loans secured by Multi-Family properties based on rental terms and location. As shown below, 63% of the combined portfolio is secured by properties subject to free market rental terms, which is the dominant tenant type. Both the Market Rent and Stabilized Rent segments of our portfolio present very similar average borrower profiles. The portfolio is primarily located in the New York City boroughs of Brooklyn, the Bronx and Queens.

Multi-Family Loan Portfolio – Loans by Rent Type
Rent Type	# of Notes	Outstanding Loan Balance		% of Total Multi-Family		Avg Loan Size		LTV		Current DSCR	Avg # of Units
		($000’s omitted)				($000’s omitted)

Market	146	$	347,579	63	%	$	2,381	61.6	%	1.39	11
Location
Manhattan	7	$	17,840	3	%	$	2,549	51.9	%	1.62	15
Other NYC	93	$	244,408	44	%	$	2,628	61.2	%	1.38	10
Outside NYC	46	$	85,331	16	%	$	1,855	64.8	%	1.39	13

Stabilized	107	$	202,937	37	%	$	1,897	62.4	%	1.39	12
Location
Manhattan	6	$	9,035	2	%	$	1,506	44.7	%	1.59	17
Other NYC	89	$	174,888	32	%	$	1,965	63.2	%	1.38	11
Outside NYC	12	$	19,014	3	%	$	1,584	64.4	%	1.40	16

Office Property Exposure

The Bank’s exposure to the Office market is minor at $49 million. The pool has a 1.28x weighted average DSCR, a 53% weighted average LTV and less than $400,000 of exposure in Manhattan.

Asset Quality and Allowance for Credit Losses

At December 31, 2024, the Bank’s asset quality remained solid with non-performing loans totaling $16.4 million which represented 0.82% of total loans outstanding. Non-performing loans were $14.5 million at December 31, 2023 and $15.4 million at September 30, 2024.

During the fourth quarter of 2024, the Bank recorded a provision for credit losses expense of $0.4 million. The December 31, 2024, allowance for credit losses balance was $22.8 million versus $19.7 million at December 31, 2023 and $23.4 million at September 30, 2024. The allowance for credit losses as a percent of total loans was 1.15% at December 31, 2024 and 1.17% at September 30, 2024, inclusive of a $3.2 million allowance on individually analyzed loans, versus 1.00% at December 31, 2023, which does not include the aforementioned $3.2 million allowance.

Net Interest Margin

The Bank’s net interest margin increased to 2.53% for the quarter ended December 31, 2024 compared to 2.37% in the quarter ended September 30, 2024 and 2.40% in the quarter ended December 31, 2023 due to the recent reductions in the Fed Funds effective rate and the liability sensitive nature of the Bank’s balance sheet.

About Hanover Community Bank and Hanover Bancorp, Inc.

Hanover Bancorp, Inc. (NASDAQ: HNVR), is the bank holding company for Hanover Community Bank, a community commercial bank focusing on highly personalized and efficient services and products responsive to client needs. Management and the Board of Directors are comprised of a select group of successful local businesspeople who are committed to the success of the Bank by knowing and understanding the metro-New York area’s financial needs and opportunities. Backed by state-of-the-art technology, Hanover offers a full range of financial services. Hanover offers a complete suite of consumer, commercial, and municipal banking products and services, including multi-family and commercial mortgages, residential loans, business loans and lines of credit. Hanover also offers its customers access to 24-hour ATM service with no fees attached, free checking with interest, telephone banking, advanced technologies in mobile and internet banking for our consumer and business customers, safe deposit boxes and much more. The Company’s corporate administrative office is located in Mineola, New York where it also operates a full-service branch office along with additional branch locations in Garden City Park, Hauppauge, Forest Hills, Flushing, Sunset Park, Rockefeller Center and Chinatown, New York, and Freehold, New Jersey, with a new branch opening in Port Jefferson, New York in the first quarter of 2025.

Hanover Community Bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For further information, call (516) 548-8500 or visit the Bank’s website at www.hanoverbank.com.

Non-GAAP Disclosure

This discussion includes non-GAAP financial measures, including the Company’s tangible common equity (“TCE”) ratio, TCE, tangible assets, tangible book value per share, return on average tangible equity and efficiency ratio. A non-GAAP financial measure is a numerical measure of historical or future performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). The Company’s management believes that the presentation of non-GAAP financial measures provides both management and investors with a greater understanding of the Company’s operating results and trends in addition to the results measured in accordance with GAAP, and provides greater comparability across time periods. While management uses non-GAAP financial measures in its analysis of the Company’s performance, this information is not meant to be considered in isolation or as a substitute for the numbers prepared in accordance with U.S. GAAP or considered to be more important than financial results determined in accordance with U.S. GAAP. The Company’s non-GAAP financial measures may not be comparable to similarly titled measures used by other financial institutions.

With respect to the calculations of and reconciliations of TCE, tangible assets, TCE ratio and tangible book value per share, reconciliations to the most comparable U.S. GAAP measures are provided in the tables that follow.

Forward-Looking Statements

This release may contain certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and may be identified by the use of such words as “may,” “believe,” “expect,” “anticipate,” “should,” “plan,” “estimate,” “predict,” “continue,” and “potential” or the negative of these terms or other comparable terminology. Examples of forward-looking statements include, but are not limited to, estimates with respect to the financial condition, results of operations and business of Hanover Bancorp, Inc. Any or all of the forward-looking statements in this release and in any other public statements made by Hanover Bancorp, Inc. may turn out to be incorrect. They can be affected by inaccurate assumptions that Hanover Bancorp, Inc. might make or by known or unknown risks and uncertainties, including those discussed in our Annual Report on Form 10-K under Item 1A – Risk Factors, as updated by our subsequent filings with the Securities and Exchange Commission. Further, the adverse effect of health emergencies or natural disasters on the Company, its customers, and the communities where it operates may adversely affect the Company’s business, results of operations and financial condition for an indefinite period of time. Consequently, no forward-looking statement can be guaranteed. Hanover Bancorp, Inc. does not intend to update any of the forward-looking statements after the date of this release or to conform these statements to actual events.

Investor and Press Contact:
Lance P. Burke
Chief Financial Officer
(516) 548-8500

HANOVER BANCORP, INC.
STATEMENTS OF CONDITION (unaudited)
(dollars in thousands)


		December 31,			September 30,			December 31,
			2024			2024			2023
Assets
Cash and cash equivalents		$	162,857		$	141,231		$	177,207
Securities-available for sale, at fair value			83,755			98,359			61,419
Investments-held to maturity			3,758			3,828			4,041
Loans held for sale			12,404			16,721			8,904

Loans, net of deferred loan fees and costs			1,985,524			2,005,813			1,957,199
Less: allowance for credit losses			(22,779	)		(23,406	)		(19,658	)
Loans, net			1,962,745			1,982,407			1,937,541

Goodwill			19,168			19,168			19,168
Premises & fixed assets			15,337			16,373			15,886
Operating lease assets			8,337			8,776			9,754
Other assets			43,749			40,951			36,140
	Assets	$	2,312,110		$	2,327,814		$	2,270,060

Liabilities and stockholders’ equity
Core deposits		$	1,456,513		$	1,453,444		$	1,382,397
Time deposits			497,770			504,100			522,198
Total deposits			1,954,283			1,957,544			1,904,595

Borrowings			107,805			125,805			128,953
Subordinated debentures			24,689			24,675			24,635
Operating lease liabilities			9,025			9,472			10,459
Other liabilities			19,670			17,979			16,588
	Liabilities		2,115,472			2,135,475			2,085,230

Stockholders’ equity			196,638			192,339			184,830
	Liabilities and stockholders’ equity	$	2,312,110		$	2,327,814		$	2,270,060

HANOVER BANCORP, INC.
CONSOLIDATED STATEMENTS OF INCOME (unaudited)
(dollars in thousands, except per share data)

		Three Months Ended				Year Ended
		12/31/2024		12/31/2023		12/31/2024		12/31/2023

Interest income		$	33,057	$	31,155	$	133,022	$	113,626
Interest expense			19,249		18,496		79,930		61,739
	Net interest income		13,808		12,659		53,092		51,887
Provision for credit losses			400		200		4,940		2,132
	Net interest income after provision for credit losses		13,408		12,459		48,152		49,755

Loan servicing and fee income			981		778		3,690		2,809
Service charges on deposit accounts			136		85		469		297
Gain on sale of loans held-for-sale			3,014		2,326		10,940		5,841
Gain on sale of investments			27		–		31		–
Other operating income			29		65		209		1,744
	Non-interest income		4,187		3,254		15,339		10,691

Compensation and benefits			6,699		5,242		25,600		21,562
Occupancy and equipment			1,810		1,746		7,222		6,628
Data processing			536		530		2,096		2,063
Professional fees			782		729		3,079		3,191
Federal deposit insurance premiums			375		375		1,418		1,476
Other operating expenses			2,198		2,048		7,697		7,200
	Non-interest expense		12,400		10,670		47,112		42,120

	Income before income taxes		5,195		5,043		16,379		18,326
Income tax expense			1,293		1,280		4,033		4,737

	Net income	$	3,902	$	3,763	$	12,346	$	13,589

Earnings per share (“EPS”):⁽¹⁾
Basic		$	0.53	$	0.51	$	1.67	$	1.85
Diluted		$	0.52	$	0.51	$	1.66	$	1.84

Average shares outstanding for basic EPS ⁽¹⁾⁽²⁾			7,427,583		7,324,133		7,403,758		7,326,903
Average shares outstanding for diluted EPS ⁽¹⁾⁽²⁾			7,456,471		7,383,529		7,432,741		7,386,299

⁽¹⁾ Calculation includes common stock and Series A preferred stock.
⁽²⁾ Average shares outstanding before subtracting participating securities.

Note: Prior period information has been adjusted to conform to current period presentation.

HANOVER BANCORP, INC.
CONSOLIDATED STATEMENTS OF INCOME (unaudited)
QUARTERLY TREND
(dollars in thousands, except per share data)

		Three Months Ended
		12/31/2024		9/30/2024		6/30/2024		3/31/2024		12/31/2023

Interest income		$	33,057	$	34,113	$	33,420	$	32,432	$	31,155
Interest expense			19,249		21,011		20,173		19,497		18,496
	Net interest income		13,808		13,102		13,247		12,935		12,659
Provision for credit losses			400		200		4,040		300		200
	Net interest income after provision for credit losses		13,408		12,902		9,207		12,635		12,459

Loan servicing and fee income			981		960		836		913		778
Service charges on deposit accounts			136		123		114		96		85
Gain on sale of loans held-for-sale			3,014		2,834		2,586		2,506		2,326
Gain on sale of investments			27		–		4		–		–
Other operating income			29		37		82		61		65
	Non-interest income		4,187		3,954		3,622		3,576		3,254

Compensation and benefits			6,699		6,840		6,499		5,562		5,242
Occupancy and equipment			1,810		1,799		1,843		1,770		1,746
Data processing			536		547		495		518		530
Professional fees			782		762		717		818		729
Federal deposit insurance premiums			375		360		365		318		375
Other operating expenses			2,198		1,930		1,751		1,818		2,048
	Non-interest expense		12,400		12,238		11,670		10,804		10,670

	Income before income taxes		5,195		4,618		1,159		5,407		5,043
Income tax expense			1,293		1,079		315		1,346		1,280

	Net income	$	3,902	$	3,539	$	844	$	4,061	$	3,763

Earnings per share (“EPS”):⁽¹⁾
Basic		$	0.53	$	0.48	$	0.11	$	0.55	$	0.51
Diluted		$	0.52	$	0.48	$	0.11	$	0.55	$	0.51

Average shares outstanding for basic EPS ⁽¹⁾⁽²⁾			7,427,583		7,411,064		7,399,816		7,376,227		7,324,133
Average shares outstanding for diluted EPS ⁽¹⁾⁽²⁾			7,456,471		7,436,068		7,449,110		7,420,926		7,383,529

⁽¹⁾ Calculation includes common stock and Series A preferred stock.
⁽²⁾ Average shares outstanding before subtracting participating securities.

Note: Prior period information has been adjusted to conform to current period presentation.

HANOVER BANCORP, INC.
SELECTED FINANCIAL DATA (unaudited)
(dollars in thousands)


	Three Months Ended						Year Ended
	12/31/2024			12/31/2023			12/31/2024			12/31/2023
Profitability:
Return on average assets		0.70	%		0.69	%		0.55	%		0.66	%
Return on average equity ⁽¹⁾		7.98	%		8.10	%		6.45	%		7.44	%
Return on average tangible equity ⁽¹⁾		8.87	%		9.06	%		7.18	%		8.33	%
Pre-provision net revenue to average assets		1.00	%		0.97	%		0.95	%		0.99	%
Yield on average interest-earning assets		6.06	%		5.91	%		6.12	%		5.67	%
Cost of average interest-bearing liabilities		4.24	%		4.19	%		4.40	%		3.68	%
Net interest rate spread ⁽²⁾		1.82	%		1.72	%		1.72	%		1.99	%
Net interest margin ⁽³⁾		2.53	%		2.40	%		2.44	%		2.59	%
Non-interest expense to average assets		2.21	%		1.97	%		2.11	%		2.04	%
Operating efficiency ratio ⁽⁴⁾		69.01	%		67.05	%		68.88	%		67.31	%

Average balances:
Interest-earning assets	$	2,169,595		$	2,090,839		$	2,174,000		$	2,004,634
Interest-bearing liabilities		1,804,700			1,751,330			1,818,110			1,678,464
Loans		2,003,686			1,910,409			2,005,524			1,829,586
Deposits		1,853,828			1,767,753			1,840,378			1,675,913
Borrowings		153,126			170,793			174,327			182,307


⁽¹⁾ Includes common stock and Series A preferred stock.
⁽²⁾ Represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.
⁽³⁾ Represents net interest income divided by average interest-earning assets.
⁽⁴⁾ Represents non-interest expense divided by the sum of net interest income and non-interest income excluding gain on sale of securities available for sale.

HANOVER BANCORP, INC.
SELECTED FINANCIAL DATA (unaudited)
(dollars in thousands, except share and per share data)

	At or For the Three Months Ended
	12/31/2024			9/30/2024			6/30/2024			3/31/2024
Asset quality:
Provision for credit losses – loans ⁽¹⁾	$	400		$	200		$	3,850		$	300
Net (charge-offs)/recoveries		(1,027	)		(438	)		(79	)		(85	)
Allowance for credit losses		22,779			23,406			23,644			19,873
Allowance for credit losses to total loans ⁽²⁾		1.15	%		1.17	%		1.17	%		0.99	%
Non-performing loans	$	16,368		$	15,365		$	15,828		$	14,878
Non-performing loans/total loans		0.82	%		0.77	%		0.79	%		0.74	%
Non-performing loans/total assets		0.71	%		0.66	%		0.68	%		0.64	%
Allowance for credit losses/non-performing loans		139.17	%		152.33	%		149.38	%		133.57	%

Capital (Bank only):
Tier 1 Capital	$	201,744		$	198,196		$	195,703		$	195,889
Tier 1 leverage ratio		9.13	%		8.85	%		8.89	%		8.90	%
Common equity tier 1 capital ratio		13.32	%		12.99	%		12.78	%		12.99	%
Tier 1 risk based capital ratio		13.32	%		12.99	%		12.78	%		12.99	%
Total risk based capital ratio		14.58	%		14.24	%		14.21	%		14.19	%

Equity data:
Shares outstanding ⁽³⁾		7,427,127			7,428,366			7,402,163			7,392,412
Stockholders’ equity	$	196,638		$	192,339		$	190,072		$	189,543
Book value per share ⁽³⁾		26.48			25.89			25.68			25.64
Tangible common equity ⁽³⁾		177,220			172,906			170,625			170,080
Tangible book value per share ⁽³⁾		23.86			23.28			23.05			23.01
Tangible common equity (“TCE”) ratio ⁽³⁾		7.73	%		7.49	%		7.38	%		7.43	%

(1) Excludes $0, $0, $190 thousand and $0 provision for credit losses on unfunded commitments for the quarters ended 12/31/24,
9/30/24, 6/30/24 and 3/31/24, respectively.
(2) Calculation excludes loans held for sale.
(3) Includes common stock and Series A preferred stock.

Note: Prior period information has been adjusted to conform to current period presentation.

HANOVER BANCORP, INC.
STATISTICAL SUMMARY
QUARTERLY TREND
(unaudited, dollars in thousands, except share data)

	12/31/2024			9/30/2024			6/30/2024			3/31/2024

Loan distribution ⁽¹⁾:
Residential mortgages	$	702,832		$	719,037		$	733,040		$	730,017
Multifamily		550,570			557,634			562,503			568,043
Commercial real estate		536,288			529,948			549,725			556,708
Commercial & industrial		168,909			171,899			139,209			123,419
Home equity		26,422			26,825			27,992			26,879
Consumer		503			470			485			449

Total loans	$	1,985,524		$	2,005,813		$	2,012,954		$	2,005,515

Sequential quarter growth rate		-1.01	%		-0.35	%		0.37	%		2.47	%

CRE concentration ratio		385	%		397	%		403	%		416	%

Loans sold during the quarter	$	53,499		$	43,537		$	35,302		$	26,735

Funding distribution:
Demand	$	211,656		$	206,327		$	199,835		$	202,934
N.O.W.		692,890			621,880			661,998			708,897
Savings		48,885			53,024			44,821			48,081
Money market		503,082			572,213			571,170			493,123
Total core deposits		1,456,513			1,453,444			1,477,824			1,453,035
Time		497,770			504,100			464,105			464,227
Total deposits		1,954,283			1,957,544			1,941,929			1,917,262
Borrowings		107,805			125,805			148,953			148,953
Subordinated debentures		24,689			24,675			24,662			24,648

Total funding sources	$	2,086,777		$	2,108,024		$	2,115,544		$	2,090,863

Sequential quarter growth rate – total deposits		-0.17	%		0.80	%		1.29	%		0.67	%

Period-end core deposits/total deposits ratio		74.53	%		74.25	%		76.10	%		75.79	%

Period-end demand deposits/total deposits ratio		10.83	%		10.54	%		10.29	%		10.58	%

⁽¹⁾ Excluding loans held for sale

HANOVER BANCORP, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES ⁽¹⁾(unaudited)
(dollars in thousands, except share and per share amounts)


	12/31/2024			9/30/2024			6/30/2024			3/31/2024			12/31/2023
Tangible common equity
Total equity ⁽²⁾	$	196,638		$	192,339		$	190,072		$	189,543		$	184,830
Less: goodwill		(19,168	)		(19,168	)		(19,168	)		(19,168	)		(19,168	)
Less: core deposit intangible		(250	)		(265	)		(279	)		(295	)		(311	)
Tangible common equity ⁽²⁾	$	177,220		$	172,906		$	170,625		$	170,080		$	165,351

Tangible common equity (“TCE”) ratio
Tangible common equity ⁽²⁾	$	177,220		$	172,906		$	170,625		$	170,080		$	165,351
Total assets		2,312,110			2,327,814			2,331,098			2,307,508			2,270,060
Less: goodwill		(19,168	)		(19,168	)		(19,168	)		(19,168	)		(19,168	)
Less: core deposit intangible		(250	)		(265	)		(279	)		(295	)		(311	)
Tangible assets	$	2,292,692		$	2,308,381		$	2,311,651		$	2,288,045		$	2,250,581
TCE ratio ⁽²⁾		7.73	%		7.49	%		7.38	%		7.43	%		7.35	%

Tangible book value per share
Tangible equity ⁽²⁾	$	177,220		$	172,906		$	170,625		$	170,080		$	165,351
Shares outstanding ⁽²⁾		7,427,127			7,428,366			7,402,163			7,392,412			7,345,012
Tangible book value per share ⁽²⁾	$	23.86		$	23.28		$	23.05		$	23.01		$	22.51

⁽¹⁾ A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). The Company’s management believes the presentation of non-GAAP financial measures provide investors with a greater understanding of the Company’s operating results in addition to the results measured in accordance with U.S. GAAP. While management uses non-GAAP measures in its analysis of the Company’s performance, this information should not be viewed as a substitute for financial results determined in accordance with U.S. GAAP or considered to be more important than financial results determined in accordance with U.S. GAAP.

⁽²⁾ Includes common stock and Series A preferred stock.

HANOVER BANCORP, INC.
NET INTEREST INCOME ANALYSIS
For the Three Months Ended December 31, 2024 and 2023
(unaudited, dollars in thousands)


		2024						2023
	Average				Average		Average				Average
	Balance		Interest		Yield/Cost		Balance		Interest		Yield/Cost

Assets:
Interest-earning assets:
Loans	$	2,003,686	$	30,753	6.11	%	$	1,910,409	$	28,394	5.90	%
Investment securities		94,886		1,381	5.79	%		56,834		940	6.56	%
Interest-earning cash		62,850		747	4.73	%		114,033		1,570	5.46	%
FHLB stock and other investments		8,173		176	8.57	%		9,563		251	10.41	%
Total interest-earning assets		2,169,595		33,057	6.06	%		2,090,839		31,155	5.91	%
Non interest-earning assets:
Cash and due from banks		8,973						7,429
Other assets		50,068						50,677
Total assets	$	2,228,636					$	2,148,945

Liabilities and stockholders’ equity:
Interest-bearing liabilities:
Savings, N.O.W. and money market deposits	$	1,152,755	$	11,916	4.11	%	$	1,039,062	$	11,547	4.41	%
Time deposits		498,819		5,642	4.50	%		541,475		5,231	3.83	%
Total savings and time deposits		1,651,574		17,558	4.23	%		1,580,537		16,778	4.21	%
Borrowings		128,446		1,365	4.23	%		146,167		1,392	3.78	%
Subordinated debentures		24,680		326	5.25	%		24,626		326	5.25	%
Total interest-bearing liabilities		1,804,700		19,249	4.24	%		1,751,330		18,496	4.19	%
Demand deposits		202,254						187,216
Other liabilities		27,168						26,031
Total liabilities		2,034,122						1,964,577
Stockholders’ equity		194,514						184,368
Total liabilities & stockholders’ equity	$	2,228,636					$	2,148,945
Net interest rate spread					1.82	%					1.72	%
Net interest income/margin			$	13,808	2.53	%			$	12,659	2.40	%

HANOVER BANCORP, INC.
NET INTEREST INCOME ANALYSIS
For the Years Ended December 31, 2024 and 2023
(unaudited, dollars in thousands)


		2024						2023
	Average				Average		Average				Average
	Balance		Interest		Yield/Cost		Balance		Interest		Yield/Cost

Assets:
Interest-earning assets:
Loans	$	2,005,524	$	122,970	6.13	%	$	1,829,586	$	103,975	5.68	%
Investment securities		98,238		5,992	6.10	%		26,171		1,534	5.86	%
Interest-earning cash		60,868		3,191	5.24	%		139,006		7,243	5.21	%
FHLB stock and other investments		9,370		869	9.27	%		9,871		874	8.85	%
Total interest-earning assets		2,174,000		133,022	6.12	%		2,004,634		113,626	5.67	%
Non interest-earning assets:
Cash and due from banks		8,567						8,034
Other assets		50,461						52,953
Total assets	$	2,233,028					$	2,065,621

Liabilities and stockholders’ equity:
Interest-bearing liabilities:
Savings, N.O.W. and money market deposits	$	1,160,115	$	51,457	4.44	%	$	1,029,415	$	39,430	3.83	%
Time deposits		483,668		21,060	4.35	%		466,742		14,888	3.19	%
Total savings and time deposits		1,643,783		72,517	4.41	%		1,496,157		54,318	3.63	%
Borrowings		149,667		6,109	4.08	%		157,701		6,124	3.88	%
Subordinated debentures		24,660		1,304	5.29	%		24,606		1,297	5.27	%
Total interest-bearing liabilities		1,818,110		79,930	4.40	%		1,678,464		61,739	3.68	%
Demand deposits		196,595						179,756
Other liabilities		27,000						24,701
Total liabilities		2,041,705						1,882,921
Stockholders’ equity		191,323						182,700
Total liabilities & stockholders’ equity	$	2,233,028					$	2,065,621
Net interest rate spread					1.72	%					1.99	%
Net interest income/margin			$	53,092	2.44	%			$	51,887	2.59	%

The MIL Network –

January 30, 2025

MIL-OSI: Form 8.3 – [LEARNING TECHNOLOGIES GROUP PLC – 28 01 2025] – (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	28 JANUARY 2025
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state “N/A”	N/A

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:	0.375p ORDINARY
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	9,675,396	1.2209
(2) Cash-settled derivatives:
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:	9,675,396	1.2209

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	3,680	85.9415p
0.375p ORDINARY	SALE	700	87.7p
0.375p ORDINARY	SALE	10,000	87.9661p

(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?

Date of disclosure:	29 JANUARY 2025
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 –

January 30, 2025

MIL-OSI: Form 8.3 – [LOUNGERS PLC – 28 01 2025] – (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	28 JANUARY 2025
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state “N/A”	N/A

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

(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:	1,292,477	1.2432
(2) Cash-settled derivatives:
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:	1,292,477	1.2432

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

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	937	320.22p

(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

NONE

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

NONE

(c) Attachments

Is a Supplemental Form 8 (Open Positions) attached?

Date of disclosure:	29 JANUARY 2025
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 –

January 30, 2025

MIL-OSI: Form 8.3 – [ALLIANCE PHARMA PLC – 28 01 2025] – (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	ALLIANCE PHARMA 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	28 JANUARY 2025
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state “N/A”	N/A

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

(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:	12,260,907	2.2682
(2) Cash-settled derivatives:
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:	12,260,907	2.2682

NOTE: On 28/01/2025 a discretionary client transferred in 6,062 shares.

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

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	7,000	61.1p

(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

NONE

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

NONE

(c) Attachments

Is a Supplemental Form 8 (Open Positions) attached?

Date of disclosure:	29 JANUARY 2025
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 –

January 30, 2025

MIL-OSI NGOs: Why are workers’ rights in the garment industry a gender discrimination issue?

Source: Amnesty International –

More than half of factory workers who produce garments for the fashion industry are women. This means that when we talk about protecting human rights in the garment and fashion industry, we must also specifically consider the rights of women. Many of the issues facing garment workers, like low wages and precarious employment, disproportionately affect women.

Gender discrimination is rife in the garment industry. Women face a persistent wage gap, earning less than men for comparable work. They also endure rampant gender-based violence and harassment in the workplace.

Empowering women workers is crucial for combating gender discrimination. When states and companies suppress labour rights, such as the right to form unions, they not only undermine workers’ rights but also specifically impede women’s ability to advocate for change. The garment industry lacks sufficient safeguards for workers, especially women. Empowering women workers with greater authority and decision-making opportunities ensures that any new safeguard introduced by employers are designed and implemented based on the genuine, lived experiences of those it aims to protect.

MIL OSI NGO –

January 30, 2025
MIL-OSI NGOs: USA: States throughout the Americas must not play a part in President Trump’s harmful policies against people seeking safety

Source: Amnesty International –

In response to the executive actions announced by US President Trump, including calling for mass deportations, declaring a national emergency and an invasion, militarizing the US-Mexico border, reinstating the Migrant Protection Protocols (better known as the “Remain in Mexico” policy), ending asylum at the border, and shutting down the CBP One mobile application, Ana Piquer, Americas director at Amnesty International, said the following:

The executive actions adopted by President Trump severely impact the rights of people seeking safety and place countless lives at risk, fabricating non-existing threats to expand militarization, externalization of borders, generalized use of immigration detention, expedited removals and criminalization of migrant rights defenders

-Ana Piquer, Americas Director at Amnesty International

“The executive actions adopted by President Trump severely impact the rights of people seeking safety and place countless lives at risk, fabricating non-existing threats to expand militarization, externalization of borders, generalized use of immigration detention, expedited removals and criminalization of migrant rights defenders. These policies make it near impossible for individuals to seek asylum in the United States and will result in thousands of people being forcibly returned to places where their lives or safety are at risk. President Trump is also calling for the use of criminal prosecutions for people crossing irregularly into the United States, a policy that resulted in the mass separations of families during Trump’s first term. To this day, there are families – mostly from Central America – who have still not been reunited from the first iteration of this cruel policy.

The United States is also pressuring countries to accept deportation flights with individuals that are not nationals of those countries and threatening sanctions on those countries that refuse. All these policies have implications for countries throughout the Americas, continuing the troubling trend of the United States entering into bilateral agreements aimed at deterring migration.

As the United States becomes increasingly unsafe for asylum seekers, the Canadian government must withdraw from the agreement immediately

-Ana Piquer, Americas Director at Amnesty International

The Safe Third Country Agreement (STCA) between Canada and the United States bars most people crossing into Canada via the United States from seeking refugee protection in Canada, and vice versa. The agreement has forced individuals to attempt dangerous border crossings and has pushed people underground in order to seek safety. As the United States becomes increasingly unsafe for asylum seekers, the Canadian government must withdraw from the agreement immediately

The United States and Mexico jointly implemented the Migrant Protection Protocols – known as the “Remain in Mexico” policy – that trapped asylum seekers in camps along the US-Mexico border where they were at serious risk of human rights violations, with thousands of reports of people being assaulted, raped, kidnapped, and extorted. Amnesty International is calling on Mexico not to participate in any reiteration of the “Remain in Mexico” policy.

The Mexican government must urgently adopt measures to ensure the safety and security of those who had been waiting in Mexico for CPB One appointments, including allowing them to apply for international protection in Mexico and travel freely throughout the country

-Ana Piquer, Americas Director at Amnesty International

“The shutdown of the CBP One application has created an insurmountable barrier for approximately 270,000 vulnerable individuals attempting to seek safety in the United States. They are now stranded in Mexico with no clear pathway to protection. Following the termination of CBP One, the Mexican government must urgently adopt measures to ensure the safety and security of those who had been waiting in Mexico for CPB One appointments, including allowing them to apply for international protection in Mexico and travel freely throughout the country”.

The United States must instead respond to this moment of global displacement with funding and policies of welcome, to respond to the crisis with policies that are humane rather than those that hurt.

Amnesty International calls on the governments of the region to refrain from participating in policies that undermine the rights and dignity of those seeking safety

-Ana Piquer, Americas Director at Amnesty International

President Trump will only be able to implement his harmful policies if countries in the Americas agree to play along. As the members states of the Community of Latin American and Caribbean States (CELAC) meet urgently this Thursday to discuss migration, Amnesty International calls on the governments of the region to refrain from participating in policies that undermine the rights and dignity of those seeking safety.”

For more information or to schedule an interview, contact [email protected]

MIL OSI NGO –

January 30, 2025
MIL-OSI NGOs: UK: JSO mass-hearing a ‘critical opportunity to rethink the crackdown on peaceful protest’

Source: Amnesty International –

Two-day hearing will see 16 Just Stop Oil activists seek to challenge historically draconian sentences for peaceful protest

Activists were sentenced for up to five years imprisonment, for a range of peaceful protests

‘Now is the time for the courts to step back from the anger and irritation aimed at protesters – for calmer heads to prevail, and for reason to return to sentencing for protest offences’- Kerry Moscogiuri

Ahead of a major legal test over the right to protest which is due to begin at the Court of Appeal today (Wednesday 29 January) in which 16 Just Stop Oil (JSO) activists will challenge jail terms of unprecedented length related to peaceful protest, Kerry Moscogiuri, Campaigns and Communications Director at Amnesty International UK, said:

“This week’s hearing is a critical opportunity for the courts to rethink the increasingly harsh approach being taken against the right to peacefully protest.

“In recent years, UK politicians have instigated a severe crackdown on peaceful protesters, often cheered on by sections of the media. Police powers to interfere with peaceful protests have been expanded, a raft of new criminal offences have been created and maximum sentences for protest offences are now dramatically increased.

“It is the duty of the independent courts to protect fundamental rights, regardless of whether governments and newspaper like the actions of peaceful protesters or not. Sadly, the courts have increasingly bowed to this political pressure and have abandoned their historic approach of treating conscientious protesters with leniency.

“The result has been catastrophic for those caught up in the crackdown and for the free exercise of protest rights in this country.

“Peaceful protest is a fundamental human right that everyone must always be able to enjoy – it helped forge the society we live in today and should continue to play a crucial role in the world of tomorrow.

“Protest can be irritating and antagonising for other people, but it is precisely this form of protest that must be protected. Choosing only to allow protest that doesn’t disturb or inconvenience anyone else renders all protest protections meaningless.

“Now is the time for the courts to step back from the anger and irritation aimed at protesters, for calmer heads to prevail, and for reason to return to sentencing for protest offences.”

An injustice of historic proportions

This week’s hearing involves 16 JSO activists from four separate cases. The decision by the court to conduct the hearing as a single, mass two-day event highlights the significance of this case – it is rare for so many different appeals to be combined.

The appeal is being supported by environmental justice organisations Friends of the Earth and Greenpeace UK. Last month, the two groups were granted permission to intervene specifically on the appeal brought by Daniel Shaw, Louise Lancaster, Lucia Whittaker De Abreu, Cressida Gethin and Roger Hallam, all of whom were sentenced in July last year at Southwark Crown Court for their participation in a Zoom call to organise a planned M25 protest. However, Friends of the Earth and Greenpeace UK’s submissions have been written to assist those involved in the other linked appeals too.

MIL OSI NGO –

January 30, 2025
MIL-OSI Global: Pharmacies sell some products that have little or no evidence of working – so why do they do it?

Source: The Conversation – UK – By Colin Davidson, Professor of Neuropharmacology, University of Central Lancashire

Under the UK’s Pharmacy First initiative, people are encouraged to see their pharmacist before consulting their GP – especially for minor ailments. It’s a tough four-year course to become a pharmacist in the UK, so you’re in good hands if you seek their advice.

However, on stepping in to any community pharmacy, you might be surprised by the welter of products on sale – from decongestant drugs to homeopathic remedies – that have little or no evidence to support their effectiveness.

For example, oral phenylephrine has been shown to be ineffective as a nasal decongestant. Following a review of the evidence, late last year, the US Food and Drug Administration advised that oral versions of the drug (pills, soluble powders and syrups) should no longer be sold as a treatment for a blocked nose.

Phenylephrine is the main decongestant ingredient in many over-the-counter cold remedies.

Meanwhile, the UK’s Medicines and Healthcare Products Regulatory Agency’s chief safety officer, Alison Cave, said there are “no safety concerns” over phenylephrine products and “people can continue to use as directed”. Although safety is not what’s in question. Effectiveness is.

The flu drug oseltamivir also has little evidence of effectiveness – at least in otherwise healthy people. The UK government, however, still recommends its use in seasonal flu outbreaks.

A recent meta-analysis of 33 clinical trials, with a combined 19,000 patients, showed that oseltamivir, and similar antivirals, might be useful if given to patients who are at a high risk of severe disease. However, they only worked if given within 48 hours of exposure to the flu virus. These drugs had little or no effect on most people who are at low risk or who look for treatments after the 48-hour window.

In 2017, the World Health Organization (WHO) downgraded the status of oseltamivir from “essential” to “complementary”.

The WHO strongly advises against giving oseltamivir to people with “suspected or confirmed non-severe seasonal influenza virus infection”. The drug doesn’t seem to help people at low risk of severe flu and can have unpleasant side-effects.

What about supplements and other non-medicines?

Of course, pharmacies don’t just sell drugs. They also sell supplements, such as vitamins and minerals, herbal medicines and homeopathic remedies.

Although more than half the UK population takes a multivitamin or dietary supplement, scientists still debate their benefits. A recent large study found that taking a daily multivitamin doesn’t appear to be associated with a mortality benefit.

On the other hand, taking a vitamin D supplement is recommended for those with a deficiency – especially during the dark winter months. Studies have shown that it may reduce the risk of heart attacks and strokes in older people. And people with periods can benefit from vitamin C as it helps with iron absorption.

Medicines in the UK must demonstrate safety, quality and efficacy – but these criteria don’t apply to supplements, herbal medicines and homeopathic products. These products only have to demonstrate safety and quality.

The Royal Pharmaceutical Society states that there is “no evidence from randomised controlled trials for the efficacy of homoeopathy over placebo, and no scientific basis for homoeopathy”. However, it was only as recently as 2017 that the NHS agreed to cease providing homeopathic treatments.

If the evidence says that they don’t work, why do people take these products?

Placebo effects may be part of the reason. The person may believe that the treatment will work and this may lead to them thinking that they feel better. Most of these products are sold for self-limiting conditions and are aimed at helping people feel better while they recover.

Many of these products are sold for self-limiting conditions.
fizkes/Shutterstock

Pharmacies have always sold complementary therapies, although these products have changed with the times. You won’t find tonic wine anymore, and there’s much less call for malt extract with cod liver oil.

So why do UK pharmacies sell products with little or no evidence of effectiveness?

Data from Community Pharmacy England suggests that 90% of the income of the average pharmacy comes from the NHS. But, over the last ten years, that funding has seen a 30% real-term cut, even in the face of new services, such as Pharmacy First.

Is it any wonder then that community pharmacies are moving into private services, such as weight loss, and expanding the range of lifestyle products they sell?

Also, many pharmacists work for larger companies and these companies might value profit over evidence-based treatments. Their shops can be crammed with dubious products with high profitability.

This conflict between pharmacies making a profit and providing the best treatment options and advice is not new and is something that Australia struggled with quite recently, leading to calls for pharmacies to drop products that lack evidence.

As long as pharmacies face NHS spending cuts and have to rely on the sale of products that have little or no evidence for their efficacy to remain afloat, the situation is unlikely to change. In the meantime, ask questions about anything you are considering buying. You can be reassured that if a product isn’t right for your condition, your pharmacist will tell you.

The Conversation offered the Royal Pharmaceutical Society the right of reply and Elen Jones, the society’s director for England and Wales wrote:

“Community pharmacies are the ideal place for open conversations with patients to ensure they make informed decisions about their health, including discussing any questions about the evidence of a product’s clinical effectiveness …

“In the case of homeopathy, the RPS is clear that it has no scientific evidence to support its clinical efficacy beyond a placebo effect and does not endorse it as a form of treatment. Pharmacists should advise people considering homeopathic products about their lack of efficacy beyond placebo and also advise that individuals do not stop taking their prescribed medicines when considering using a homeopathic product.

“Offering a variety of products can be an opportunity for patients to access the pharmacy as a ‘gateway to healthcare,’ encouraging them to seek advice for conditions because they trust their pharmacist. Pharmacists play a crucial role in providing evidence-based care daily, guiding patients towards treatments that are safe and clinically effective, with patient care and safety always as the highest priority.”

Colin Davidson has previously received funding from the NIH (USA) and the European Community for projects related to drug abuse. He is currently a consultant on novel psychoactive substances for the UK Defence Science Technology Labs and is a member of the Advisory Council on the Misuse of Drugs (UK). He was Head of School of Pharmacy & Biomedical Sciences at the University of Central Lancashire from 2017-2023.

Cathryn Brown is a pharmacist and a member of the Royal Pharmaceutical Society. She is currently a member of the Labour party, and regularly donates to Sense about Science.

– ref. Pharmacies sell some products that have little or no evidence of working – so why do they do it? – https://theconversation.com/pharmacies-sell-some-products-that-have-little-or-no-evidence-of-working-so-why-do-they-do-it-246847

MIL OSI – Global Reports –

January 30, 2025
MIL-OSI Global: AI could help overcome the hurdles to making nuclear fusion a practical energy source

Source: The Conversation – UK – By Tan Sui, Associate Professor (Reader), University of Surrey

Efman / Shutterstock

The pursuit of nuclear fusion as a clean, sustainable energy source represents one of the most challenging scientific and engineering goals of our time. Fusion promises nearly limitless energy without carbon emissions or long-living radioactive waste.

However, achieving practical fusion energy requires overcoming significant challenges. These come from the heat generated by the fusion process, the radiation produced, the progressive damage to materials used in fusion devices and other engineering hurdles. Fusion systems operate under extreme physical conditions, generating data at scales that surpass the ability of humans to analyse.

Nuclear fusion is the form of energy that powers the Sun. Existing nuclear energy relies on a process called fission, where a heavy chemical element is split to produce lighter ones. Fusion works by combining two light elements to make a heavier one.

While physicists are able to initiate and sustain fusion for variable periods of time, getting more energy out of the process than the energy supplied to power the fusion device has been a challenge. This has so far prevented the commercialisation of this hugely promising energy source.

Artificial intelligence (AI) is emerging as a powerful and essential tool for managing the inherent challenges in fusion research. It holds promise for handling the complex data and convoluted relationships between different aspects of the fusion process. This not only enhances our understanding of fusion but also accelerates the development of new reactor designs.

By addressing these hurdles, AI offers the potential to significantly compress timelines for the development of fusion devices, paving the way for the commercialisation of this form of energy.

AI is reshaping fusion research across academic, government and commercial sectors, driving innovation and progress toward a sustainable energy future. For example, it can play a transformative role in addressing the challenges of developing materials for fusion reactors, which must withstand extreme thermal and neutron environments while maintaining structural integrity and functionality.

By connecting datasets from different experiments, simulations and manufacturing processes, AI-driven models can generate reliable predictions and insights that can be acted on. A form of AI called machine learning can significantly accelerate the evaluation and optimisation of materials that could be used in fusion devices.

These include the doughnut-shaped vessels called tokamaks used in magnetic confinement fusion (where magnetic coils are used to guide and control hot plasma – a state of matter – allowing fusion reactions to occur). The superheated plasma can damage the materials used in the interior walls of the tokamak, as well as irradiating them (making them radioactive).

Machine learning involves the use of algorithms (a set of mathematical rules) that can learn from data and apply those lessons to unseen problems. Insights from this form of AI are critical for guiding the selection and validation of materials capable of enduring the harsh conditions within fusion devices. AI allows scientists to develop detailed simulations that enable the rapid evaluation of materials performance and their configurations within a fusion device. This helps ensure long-term reliability and cost efficiency.

AI tools can help narrow the range of candidate materials for testing, characterise them based on their properties and perform real-time monitoring of those installed in fusion reactors. These capabilities enable the rapid screening and development of radiation-tolerant materials, reducing reliance on traditional, time-intensive approaches.

Controlling plasma

AI also offers a way to better control the plasma in fusion reactors. As discussed, a key challenge in magnetic confinement fusion is to shape and maintain the high-temperature plasma within the fusion device, often a tokamak vessel.

However, the plasmas in these machines are inherently unstable. For example, a control system needs to coordinate the tokamak’s many magnets, adjust their voltage thousands of times per second to ensure the plasma never touches the walls of the vessel. This could lead to the loss of heat and potentially damage the materials inside the tokamak.

Researchers from the UK-based company Google DeepMind have used a form of AI called deep reinforcement learning to keep the plasma steady and be used to accurately sculpt it into different shapes. This allows scientists to understand how the plasma reacts under different conditions.

Meanwhile, a team at Princeton University in the US also used deep reinforcement learning to forecast disturbances in fusion plasma known as “tearing mode instabilities”, up to 300 milliseconds before they appear. Tearing instabilities are a leading form of disruption that can occur, stopping the fusion process. They happen when the magnetic field lines within a plasma break and create an opportunity for that plasma to escape the control system in a fusion device.

My own collaboration with the UK Atomic Energy Authority (UKAEA) addresses critical challenges in materials performance and structural integrity by integrating a variety of techniques, including machine learning models, for evaluating what’s known as the residual stress of materials. Residual stress is a measure of performance that’s locked into materials during manufacturing or operation. It can significantly affect the reliability and safety of fusion reactor components under extreme conditions.

A key outcome of this collaboration is the development of a way of working that integrates data from experiments with a machine learning-powered predictive model to evaluate residual stress in fusion joints and components.

This framework has been validated through collaborations with leading institutions, including the National Physical Laboratory and UKAEA’s materials research facility. These advancements provide efficient and accurate assessments of materials performance and have redefined the evaluation of residual stress, unlocking new possibilities for assessing the structural integrity of components used in fusion devices.

This research directly supports the European Demonstration Power Plant (EU-DEMO)
and the Spherical Tokamak for Energy Production (STEP) project, which aim to deliver a demonstration fusion power plant and prototype fusion power plant, respectively, to scale. Their success depends on ensuring the structural integrity of critical components under extreme conditions.

By using many AI-based approaches in a coordinated way, researchers can ensure that fusion systems are physically robust and economically viable, accelerating the path to commercialisation. AI can be used to develop simulations of fusion devices that integrate insights from plasma physics, materials science, engineering and other aspects of the process. By simulating fusion systems within these virtual environments, researchers can optimise reactor design and operational strategies.

Tan Sui would like to acknowledge funding from the UK’s Royal Academy of Engineering under the Industrial Fellowships programme.

– ref. AI could help overcome the hurdles to making nuclear fusion a practical energy source – https://theconversation.com/ai-could-help-overcome-the-hurdles-to-making-nuclear-fusion-a-practical-energy-source-247608

MIL OSI – Global Reports –

January 30, 2025
MIL-OSI Global: How Pakistani media misses stories about solutions during smog season

Source: The Conversation – UK – By Rabia Qusien, Postdoctoral Researcher at the Alliance for a Sustainable Future, George Washington University, George Washington University

It isn’t just hazy — it’s suffocating. During smog season in Lahore, Pakistan, something as simple as breathing can become a major health risk. People keep their windows shut to protect themselves, yet they can smell smoke even indoors.

When we speak to family and colleagues in Pakistan by phone, they often have to break off, unable to speak because they are coughing and gasping due to the smog and particulate-laden air.

This is normal for residents of many major cities in Pakistan. The smog has worsened in recent years. Fine particulate air pollution known as PM2.5 increased by 25% in 2024 compared to 2023.

Smog started engulfing all major cities in Punjab, bringing life to a halt in major metropolitans. In November 2024, 129,229 patients visited hospitals due to respiratory diseases.

Pakistan is the fourth most polluted country in the world, thanks mostly to the smog that descends on cities such as Lahore and Sheikhupura every winter. Conditions are so bad that life expectancy in these cities is seven years shorter than when World Health Organization’s air quality guideline are met.

Our research into media representations of climate issues shows that the media has an important role in informing the public about the dangers and causes of smog. But often, the reporting leaves out the human toll and ignores the impacts on health and lifestyle.

Clouded narratives

We analysed 356 news stories related to smog in Pakistan during 2017 and 2019, which appeared in six newspapers. We found that the public health implications of smog were discussed in only 15% of stories – that includes any mention of precautionary measures such as wearing masks, moisturising skin (to build a barrier effect against environmental substance), eating a balanced diet (to maintain a healthy immune system), and reducing time spent outdoors when smog is heavy.

Our research highlights how Pakistani media treats smog as a seasonal inconvenience, rather than a major public health emergency requiring urgent and sustainable attention.

As we collected data, we found that news articles related to smog started appearing after the issue intensified in both English and Urdu newspapers. Most news editors, especially in Urdu newspapers, only seemed interested in smog-related stories during smog season which is from October to February, though haze hangs in the sky throughout the year.

Pakistani media tended to attribute smog to local factors, including urbanisation, industrialisation, vehicle emissions, and the burning of waste or crops. The media remained critical of government efforts to reduce smog impacts but did not mention many sustainable policy options.

There are other regional issues at play here, too. Given the ongoing India-Pakistan conflict, the Pakistani media blames smoke from stubble burning on the Indian side of the border for smog outbreaks, irrespective of the direction of prevailing winds.

The media often covers the disastrous effects of smog, such as the strain on the economy, closure of schools, transport delays and utility supply disruptions. More than 20% of news reports in each newspaper were about such effects.

However, the media published far fewer stories about the knock-on effects on human health and about communities that were vulnerable to smog, such as daily wage labourers working outdoors and inhaling toxic air.

Smog through a solutions lens

By adopting a more human-centred and solutions-journalism approach (rigorous reporting that’s focused on responses to particular social and environmental challenges), the media landscape in Pakistan could become much more comprehensive.

Solutions-focused reporting of smogs should ideally cover environmental justice by showcasing how vulnerable communities are more affected by smog. With more human-centred story angles, the media can explain the health implications of smog.

Linking routine actions, such as burning fossil fuels, crops and waste, to major health issues, such as respiratory disease is essential. Powerful storytelling can emphasise how mitigating those effects can benefit human health.

Burning of crops to clear stubble after the harvest contributes to air pollution.
Haani Pasha/Shutterstock

Media coverage of sustainable solutions could be increased. Currently, the media focuses mainly on stories about short-term policy actions. That includes emphasising the ban on outdoor activities and holidays in schools or publishing stories about the number of registered cases against farmers burning crops. Stories might also cover tickets issued to smoke-emitting vehicles, industrial units sealed during smog season and the temporary pause to development projects to control smog.

The 2019 media coverage we analysed highlighted sustainable solutions in just 12 instances. That included stories about tree planting, rooftop gardening and urban forestry. Although people mostly read and understand Urdu, the number of stories based on solutions journalism in Urdu newspapers is lower than in English newspapers.

Solution-focused journalism can help demonstrate how stern policy action reduces environmental challenges and creates opportunities. For example, using crop stubble for cement production and knowing which trees are best for reducing air pollution.

The road to improving public understanding of smog starts with increasing the scientific and environmental literacy of journalists in Pakistan. Once reporters and editors are more comfortable with the science, they will feel better equipped to craft solutions-focused narratives that engage their audiences in powerful stories about what is happening to air quality in Pakistan and other developing countries.

Don’t have time to read about climate change as much as you’d like?

Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed so far.

Rabia Qusien receives funding from Dublin City University.

David Robbins is affiliated with the Green Party of Ireland/Comhaontas Glas.

– ref. How Pakistani media misses stories about solutions during smog season – https://theconversation.com/how-pakistani-media-misses-stories-about-solutions-during-smog-season-246084

MIL OSI – Global Reports –

January 30, 2025
MIL-OSI Global: Brics: growth of China-led bloc raises questions about a rapidly shifting world order

Source: The Conversation – UK – By Gabriel Silva Huland, Teaching Fellow, School of International Studies, University of Nottingham

Brics has emerged as a significant international force since 2009 when it was established at a summit in Russia. What began as a five-member group encompassing Brazil, Russia, India, China and South Africa, is now expanding with the integration of five new members and eight new partner countries. Even more countries may be joining in the next few years.

This growth raises essential questions about whether Brics will challenge the leadership of traditional powers such as the US, UK and the European Union.

But analysts are also questioning how united the bloc really is and whether a perceived lack of unity constitutes an obstacle to the bloc’s expansion. Brics is undoubtedly diverse. Iran and Saudi Arabia compete as regional powers in the Middle East, Egypt and Ethiopia have had different conflicts around the Nile’s governance, and the skirmishes between China and India are well known.

Yet, the bloc’s strength may reside in its capacity to integrate this diverse array of countries that are not fully aligned. Building loose international organisations might be the key to navigating international politics in these times of increasing polarisation.

The rise of Brics must be contextualised within the ongoing competition between the US and China. The rivalry between the world’s two largest economies is likely to intensify in the coming years, shaping the contemporary global order. China’s announcement of a record US$1 trillion (£804 billion) trade surplus for 2024 and its solid 5% economic growth have bolstered the narrative that its development model represents an alternative to the US-sponsored neoliberal policies that have dominated much of the world in the past four decades.

Political leaders and economic elites worldwide are closely observing the US-China competition – and most countries strive to maintain an equidistant approach. Countries traditionally within the US sphere of influence, including Brazil and Peru, have been cautiously moving towards China, attracted by the economic opportunities the Asian giant offers. Others previously in China’s orbit, like Vietnam, are working to maintain or expand their ties with the US.

Brics countries represent 45% of the world’s population and about 35% of global GDP.
Sunflowerr/Shutterstock

China is unquestionably the driving force that holds Brics together. Without China, it wouldn’t have come into existence. All Brics countries share two key characteristics. They are global south countries that do not belong to the traditional group of hegemonic powers. And they have significant economic ties with China, especially through trade relations.

Belt and road

The official Brics narrative emphasises multilateralism, cooperation and fair global development. But in fact the group serves primarily as an instrument for China to project its power and influence. China achieves this through a combination of rhetoric and by using the bloc as a special trade platform linked to the “Belt and Road Initiative” (BRI).

Brics seeks to position itself as an alternative to US hegemony, promoting free trade and multilateralism. In times of political turbulence and the growth of illiberal forces, this narrative serves as a powerful legitimising tool for the group globally. But the group’s diversity also poses significant challenges to its rise as an alternative to the US-led global order. It is unlikely that Brics will evolve into a unified military alliance like Nato or a free trade area like Asean or the United States-Mexico-Canada Agreement (USMCA – formerly Nafta). The group’s diversity prevents it from acquiring these characteristics.

Aware of this, China strategically uses Brics to increase its business opportunities and international influence. It maintains a fine balance between a loose bloc and a more solidified military or economic alliance. Contrary to the Cold War era, when the two superpowers, the US and the Soviet Union, had well-defined spheres of influence, the current world order appears to be shaped by loose, interconnected international blocs.

Many of Brics member states are also partners with China in the Belt and Road Initiative (BRI).
Net Vector/Shutterstock

China’s prominence within Brics is clear and unlikely to change. It accounts for two-thirds of both the group’s GDP and intra-Brics trade. The country is the primary trade partner for Brazil, Russia, India, South Africa, Egypt, Ethiopia, the UAE, Saudi Arabia and Iran. China also holds significant investments in these nations. Russia is the largest recipient of Chinese foreign direct investment within the Brics with an accumulated stock of more than USU$10 billion.

Most Brics member states are also directly or indirectly involved in BRI. While the major BRI projects may not be located within Brics countries – they are primarily in central, south and southeast Asia – Egypt, Ethiopia, South Africa, Saudi Arabia and Iran also host BRI initiatives. Though not an official BRI member, Brazil has become a key partner due to its role as a central food supplier to China.

These figures highlight that expanding Brics is one of China’s foreign policy priorities. The country uses the group to project both economic and ideological influence. Donald Trump’s plans to impose trade tariffs on several countries, including China, is likely to prompt China to intensify this policy. It is a distinct possibility that the recent episode with Colombia, where the US president reportedly threatened to impose tariffs if Colombia continued to push back against deportation flights, could encourage more countries to seek closer trading relationships with China.

Strategic friendships

Some analysts correctly claim that Brics is divided between anti-western states and those that prefer to remain nonaligned. While the anti-western group, led by Russia, advocates for a confrontational stance towards the US, the nonaligned countries – including India and Brazil – favour a more nuanced approach.

Analysts argue that the US should try to develop closer relations with non-aligned countries to influence internal Brics debates. But this overlooks the fact that China is not only the de-facto leader of Brics but also has an unequivocal strategy of favouring a nuanced approach towards the west, based on multilateralism and free trade. So, despite what Russia may want, it’s unlikely that Brics will assume a confrontational stance towards the west.

China knows that a non-confrontational approach is the best way to attract more countries and solidify the Brics as a loose bloc that advocates for more democratic global governance.

So far, this strategy appears to be working.

Gabriel Silva Huland does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Brics: growth of China-led bloc raises questions about a rapidly shifting world order – https://theconversation.com/brics-growth-of-china-led-bloc-raises-questions-about-a-rapidly-shifting-world-order-248075

MIL OSI – Global Reports –

January 30, 2025
MIL-OSI Global: How Victorian melodrama turned the sweet music of gothic into something dark and sinister

Source: The Conversation – UK – By Emma McEvoy, Senior Lecturer in English Literature, University of Westminster

In 1764, Horace Walpole published the first gothic novel, The Castle of Otranto, set in a labyrinthine castle surrounded by woods. The novel features the supernatural, with a dark secret from the past at its core. Today, 260 years later, gothic is still with us in the form of “contemporary gothic” plays, fiction, films, music and computer games.

Central to the popularity of gothic is the way it affects its audiences. It is supposed to unsettle, to make the flesh creep and provoke feelings of claustrophobia. Soundtracks for gothic films are integral to creating such effects, building suspense and unease while amplifying the visceral impact of sudden jump scares.

Alejandro Amenábar’s soundtrack for The Others (2001), for example, weirds its listeners out. The hollow but reverberant timbre of brushed piano strings evokes the spaces of the house, conjuring up the old-fashioned alienness of the place. Action, set and music sympathetically resonate.

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The soundtrack for The Substance (2024) shrieks with the strings and sudden dissonances of The Nightmare and Dawn (taken from Bernard Herrmann’s score for Hitchcock’s 1958 masterpiece, Vertigo). Then, it deepens the sense of disquiet with the sinister incantations and medieval-sounding harmonies of Swedish composer Anna von Hausswolff‘s Ugly and Vengeful.

Both soundtracks impressively succeed in doing what we expect gothic music to do: provoke unease, create suspense and drive home the horror elements.

But has the music of the gothic always been called upon to unsettle and scare? Has it always sounded so, well, gothic? These are questions I explore in my new book The Music of the Gothic 1789–1820.

Over the last few years, I’ve been rummaging through archives in London, Oxford and Dublin searching for settings of songs from novels and music associated with gothic plays such as The Mysteries of the Castle (1795). I uncovered many treasures, some of which probably haven’t been performed for a couple of centuries.

Thanks to a grant from the British Academy and the Leverhulme Trust, I was able to bring some of this music to audiences once more with the help of a group of wonderful musicians, headed by Seb Gillot, who performed the tracks you can hear in this article. You can see them performing live below.

The gothic novels and plays of the 1790s were populated by sweet-singing heroines and heroes. Among the music I encountered was a song by the composer and singer Harriet Abrams (c. 1758-1821), in which a woman imprisoned in a madhouse sweetly pleads with her cold-hearted jailer.

I also found music for gothic plays by the Northumbrian William Shield (1748-1829) and the Irish tenor Michael Kelly (1762-1826), who wrote songs about jolly mariners , comic poachers_ and young peasant girls on their way back from market.

None of this material sounded remotely what we would now describe as gothic. Even the music accompanying the entrance of a blood-covered ghost in The Castle Spectre (1798) was warm and stately – and singularly unterrifying.

I realised that none of the music from the 1790s – a period when gothic was phenomenally popular – was intended to scare. On the contrary, it was called upon to provide relief from the scare. In late 18th-century gothic plays such as The Italian Monk (1797), music was associated with romance, comedy and sublime religious experience, but not horror or terror.

At what point then did the kind of gothic music we know today come into being? The evidence can be found in books such as Remick Folio of Moving Picture Music (1914) which contains music for silent film accompanists. With names like Mysterioso, or Forboding and Wind Storm, or Hurry, they were evidently designed for scenes of suspense and mystery.

Such music is indebted to the music of Victorian melodrama, but what I wanted to know was when melodrama acquired its distinctive gothic sounds.

Digging into the past of gothic

Very often in research you discover that things happen gradually. There is trial and experiment, a series of influences, a slow accumulation of examples, and then a tipping point. But when it comes to gothic music, that is not the case. There is a definite date when a specific kind of music erupted onto the entertainment scene. The date was 1802, and the occasion a new dramatic production – a “melo-drame” or musical drama called A Tale of Mystery with music by Thomas Busby.

Busby’s music was conceptualised very differently to the music of the 1790s. For a start it was intended to add to, not to provide relief from, the gothic elements of the play.

Most crucially, it was not part of the imagined world of the drama. The fictional characters did not sing it – they did not even “hear” it: Busby’s music was directed at the audience. Instrumental music calculated to disturb, it was chaotic and unnerving, with lots of fast, disjointed short phrases, disturbing chords and cliffhanger endings.

Instantly recognised as new and revolutionary, it caused a sensation. After audiences had a taste of the new gothic in A Tale of Mystery, music on the page and on the stage soon became something darker and more troubling.

The older kind of music didn’t disappear overnight, of course, but melodrama took hold and the music of gothic was transformed. Not just on stage but also on the page. Gothic music was no longer uplifting but sinister.

As seen in The Woman in Black (2012), there’s nothing like a music box in a deserted house to terrify audiences. And who doesn’t thrill to the sound of the diabolically thundering organ in Andrew Lloyd Webber’s Phantom of the Opera?

Emma McEvoy received a research grant from the British Academy and Leverhulme Trust for the project “The Music of Gothic Literature and Theatre 1790-1820”.

– ref. How Victorian melodrama turned the sweet music of gothic into something dark and sinister – https://theconversation.com/how-victorian-melodrama-turned-the-sweet-music-of-gothic-into-something-dark-and-sinister-246797

MIL OSI – Global Reports –

January 30, 2025
MIL-OSI United Kingdom: Court orders tagger caught on camera to pay £1,300

Source: City of Canterbury

Home » Latest News » Court orders tagger caught on camera to pay £1,300

A tagger has been forced to pay more than £1,300 in fines and costs after admitting daubing graffiti in four locations across Canterbury city centre.

Magistrates in Margate heard that Alexander Taylor of Paxton Avenue, Folkestone, was captured defacing the underpass in St George’s Street, Canterbury, with his tag by CCTV operators in May last year.

Canterbury City Council’s Environmental Crime team, Graffiti Officers and CCTV operators worked to trace the 24-year-old back to a vehicle parked in Ivy Lane.

The registered keeper of the vehicle was then invited to interview.

On Thursday (23 January), the court was told how Taylor was then linked to tags on Newingate House in Lower Bridge Street, a wall next to the entrance to the Beaney in Best Lane and the old Nason’s building in the High Street.

All were breaches of the council’s Public Spaces Protection Order (PSPO).

Taylor pleaded guilty to all four offences. Magistrates fined him £532 and ordered him to pay £200 costs, £365.12 compensation for cleaning costs and a victim surcharge of £213.

This case follows that of the Mr Slime tagger who was ordered to pay £1,500 in fines and costs in November.

Cllr Connie Nolan, Cabinet Member for Community Engagement, Safety and Enforcement, said: “Another tagger being asked to fork out a large sum of money must act as a warning to anyone tempted to scrawl across the city’s walls – we will track you down.

“Tagging isn’t harmless fun. It affects people’s quality of life and makes an area feel unsafe.

“And the cost of cleaning up after taggers and hunting them down could be better spent on other frontline services helping those in need.

“I pay tribute to the team behind this court case but also to our officers who cleaned off more than 5,000 tags across the district in 2024.”

Published: 29 January 2025

MIL OSI United Kingdom –

January 30, 2025
MIL-OSI Russia: Meeting of the Academic Council of the State University of Management: preparations for the 2025 admissions campaign begin

Translartion. Region: Russians Fedetion –

Source: State University of Management – Official website of the State –

On January 28, a meeting of the Academic Council was held at the State University of Management.

The meeting traditionally began with a congratulatory part. Rector of the State University of Management Vladimir Stroyev presented the medal of the Ministry of Science and Higher Education of the Russian Federation “For impeccable work and distinction” to Associate Professor of the Department of Management in International Business and Tourism Industry Elena Frolova, honorary certificates of the Ministry of Education and Science “For significant merits in the field of education, scientific activity and conscientious work” to Associate Professor of the Department of Advertising and Public Relations Galina Dovzhik and Senior Lecturer of the Department of Project Management Artem Geokchakyan.

The rector also presented a first-degree diploma of the international startup competition “Business Generation 2024” to 3rd-year students of the Institute of Economics and Finance Victoria Kostikova and Yulia Popova and their consultant, professor of the Department of Theory and Organization of Management at the State University of Management Nadezhda Psareva.

In addition, Vladimir Stroyev presented a Letter of Gratitude from the IEF for providing humanitarian aid in the conditions of the SVO, after which he congratulated the birthday people of the month.

Director of the Institute of Marketing Gennady Azoev made a report on the activities of the Institute of Marketing in 2024 and on development prospects for 2025.

“We exceeded the recruitment plan for the 2024 admission campaign, in 2025 it will be a bit more difficult, since both the control figures and the cost of education are higher, but still more profitable than competitors. This year we will participate in the network program “Development and Marketing of Digital Products” together with the Mari State University. I would also like to note the high interest of foreign students in the tournaments and competitions for bachelors and masters held by the institute, it is worth expanding this area,” shared Gennady Azoev.

Also, at his suggestion, a new educational program, “International Marketing and Brand Management,” taught in English, was approved.

Vice-Rector Pavel Pavlovsky spoke about the successes of work in the field of educational activities and proposed opening a Center for the implementation of projects in the social and humanitarian profile at the State University of Management.

“We closely cooperate with centers engaged in the development of key traditional values and ways of communicating them to young people. One of them is the Digoria Center. The Ministry of Education and Science proposes to place part of this project on the territory of the State University of Management. Our university has long had the right to be called the ideological center of the state agenda, let me remind you that all the heads of Rosmolodezh are connected with the State University of Management in one way or another. Today, the issues of educating the younger generation and interacting with young people are extremely important for the country, and we can help in this direction,” concluded Pavel Vladimirovich.

The Academic Council also considered issues of assigning recommendation stamps to educational publications, assigning employees to departments to prepare candidate dissertations, approving the Russian language as the language of education at the university, and other working issues.

At the end of the meeting, Vladimir Stroyev recalled the start of work within the framework of the 2025 admissions campaign.

“A new admission campaign has begun and everyone needs to actively participate. The work is not easy every year, the number of applicants will increase and we need to prepare properly so that as many children as possible come to GUU. To strengthen this work, we have created an entire operational headquarters that will make decisions collectively. I am personally present there and have already seen that it was not created in vain, since there are moments that require coordinated actions and systematic work that we can improve,” the GUU rector concluded.

Subscribe to the TG channel “Our GUU” Date of publication: 01/29/2025

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

MIL OSI Russia News –

January 30, 2025
MIL-OSI Russia: Sobyanin: Hero of the Soviet Union awarded the title of Honorary Citizen of Moscow

Translartion. Region: Russians Fedetion –

Source: Moscow Government – Government of Moscow –

The Great Patriotic War veteran Boris Kravtsov was awarded the title of honorary citizen of the city of Moscow. This in his blog Sergei Sobyanin said.

On the eve of the 80th anniversary of the victory in the Great Patriotic War, Russian President Vladimir Putin put forward an initiative to award the titles of honorary citizens of regions, cities and municipalities to front-line soldiers who participated in the Great Patriotic War.

“In response to this initiative of the head of state, I submitted to the Moscow City Duma a proposal to award the title of honorary citizen of the city of Moscow to war participant Boris Vasilyevich Kravtsov. Today, the deputies supported my proposals,” the Mayor of Moscow noted.

He specified that in the coming days he would send proposals to municipal councils of deputies to award the title of “Honorary Resident of the Municipality” to all Muscovites who participated in the Great Patriotic War.

Boris Kravtsov was born on December 28, 1922 in Moscow. In June 1941, he was mobilized into the Workers’ and Peasants’ Red Army. As a lieutenant, he fought on the Southwestern, Stalingrad and Don fronts. He participated in the Battle of Kharkov, the Battle of Stalingrad, then fought for Donbass, liberated the cities of Pavlograd and Zaporozhye.

On October 24, 1943, Guards Senior Lieutenant Boris Kravtsov and a reconnaissance group crossed the Dnieper River to Khortitsa Island near Zaporozhye. From there, he transmitted targeting information to the artillery via radio, ensuring the suppression of enemy firing points. When enemy soldiers surrounded the scouts’ dugout, Boris Kravtsov called in Soviet artillery fire on his position, which allowed it to be cleared of the enemy. The Red Army soldiers themselves survived the shelling. On December 31, 1943, he received a severe shrapnel wound to the thigh.

By the Decree of the Presidium of the Supreme Soviet of the USSR of March 19, 1944, for the heroic feat demonstrated in the performance of combat missions of the command on the front of the fight against the German invaders, Boris Kravtsov was awarded the title Hero of the Soviet Union. In June 1944, after a long treatment, with the rank of captain, he was discharged from the army due to injury.

After the war, Boris Vasilyevich graduated from the Law Institute, and then worked his entire life in the justice and prosecutor’s offices, rising from a judge to the Minister of Justice of the USSR.

After retirement, Boris Kravtsov became an active participant in the veterans’ movement. In 2022, Vladimir Putin awarded him the Order of Merit for the Fatherland, 1st degree.

“Boris Vasilyevich recently turned 102 years old. He is the only living Hero of the Soviet Union in the country, awarded this title for his exploits during the Great Patriotic War,” added Sergei Sobyanin.

On behalf of the residents of the capital, he congratulated Boris Kravtsov on being awarded the title of “Honorary Citizen of the City of Moscow” and thanked him for his heroic deeds and selfless service to the Motherland and the city.

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

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

https: //vv.mos.ru/mayor/tkhemes/12323050/

MIL OSI Russia News –

January 30, 2025
MIL-OSI USA: UConn’s Unique Landscape Architecture Program Reaccredited

Source: US State of Connecticut

The landscape architecture program in UConn’s College of Agriculture, Health and Natural Resources (CAHNR) has been re-accredited for four more years by the Landscape Architecture Accreditation Board (LAAB), a national accrediting body.

UConn’s landscape architecture program is a professional degree program that prepares students to work as landscape architects.

“It’s a program that’s unique to UConn in that it offers this professionally accredited program,” Jill Desimini, director and associate professor of landscape architecture, says. “It means that as an undergraduate, you earn a professional degree, and you can go on to enter the profession without additional study.”

To work as a landscape architect, one path is to attend an accredited undergraduate or graduate landscape architecture program. After completing the program, graduates work with a landscape architect in the field before sitting for the exam they must pass to become a licensed landscape architect.

The program at UConn has been accredited since 1998. The accreditation process involves the program submitting a self-evaluation report ahead of a visit from a LAAB team who observes the program and verifies the information provided by the program.

UConn’s is one of the few landscape architecture programs in the country that are aligned with a plant science program. At UConn, landscape architecture is part of the Department of Plant Science and Landscape Architecture (PSLA).

This provides students with the opportunity to learn about both design principles central to landscape architecture, applicable science, and the plant species at their disposal.

“Students come out with a strong understanding of design principles, but also a strong understanding of the underlying science,” Desimini says.

UConn’s landscape architecture students also have the opportunity to work on experiential learning projects that take advantage of the resources at UConn like the PSLA research farm and UConn Forest. Students also work on service learning projects that benefit Connecticut communities.

“Because it’s a land grant institution and is home to UConn Extension, we’re able to have more long-term relationships with communities and support work that is happening across the state,” Desimini says. “Our students are working on real-world projects and real-world designs with communities, and they can hit the ground running with those skills and that experience.”

Many faculty in the landscape architecture program are also active researchers, giving students additional opportunities to gain experience conducting work in the studio, lab, and field. This area will only become more important as landscape architects continue to be confronted with equity and climate change-related challenges, says Desimini.

“Our program is in a new and exciting chapter,” Desimini says. “The focus is on work that combines STEM and design for the betterment of our communities and landscapes.”

This work relates to CAHNR’s Strategic Vision area focused on Fostering Sustainable Landscapes at the Urban-Rural Interface.

Follow UConn CAHNR on social media

MIL OSI USA News –

January 30, 2025
MIL-OSI Economics: W&T Offshore Announces Closing of $350 Million Senior Second Lien Notes Offering And Additional Strengthening of Balance Sheet
Source: W & T Offshore Inc

Headline: W&T Offshore Announces Closing of $350 Million Senior Second Lien Notes Offering And Additional Strengthening of Balance Sheet

HOUSTON, Jan. 29, 2025 (GLOBE NEWSWIRE) — W&T Offshore, Inc. (NYSE: WTI) (“W&T Offshore” or the “Company”) today announced the closing, on January 28, 2025, of its previously announced offering of $350 million in aggregate principal amount of 10.750% Senior Second Lien Notes due 2029 (the “Notes”) at par in a private offering that is exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), and receipt of proceeds from a previously-announced insurance settlement. In conjunction with the issuance of the Notes, the Company entered into a credit agreement with certain lenders and other parties which provides the Company a revolving credit facility of $50 million.
- Closed $350 million of Notes;
  
  Lowered the interest rate from the previous 11.750% Senior Second Lien Notes due 2026 (the “2026 Senior Second Lien Notes”) by one hundred basis points;
  
  Repaid $114.2 million outstanding under the term loan provided by Munich Re Risk Financing, Inc., as lender (the “MRE Term Loan”);
- Entered into a new credit agreement for a $50 million revolving credit facility through July 2028 that is undrawn and replaces the previous credit facility provided by Calculus Lending, LLC; and
- Received in cash $58.2 million of the previously announced $58.5 million insurance settlement related to the Mobile Bay 78-1 well, with the remainder expected shortly, which further bolsters W&T’s balance sheet.
Tracy W. Krohn, Chairman and Chief Executive Officer, commented, “We have begun 2025 with several positive events that improve W&T’s financial position. Over the past month, we have strengthened the balance sheet by closing the new senior second lien notes offering, entering into a new revolving credit facility and collecting our insurance settlement. I would like to thank our banks for running such a smooth process. The new senior second lien notes, which received improved credit ratings from S&P and Moody’s, had a broad distribution. This included international investors and was significantly oversubscribed, further demonstrating the investment community’s confidence in W&T’s underlying asset base. We are likewise pleased to now have access to the bank revolver market again. With pathways in place to bring additional fields back online and our successful actions to enhance our balance sheet, we are well-positioned for success moving forward.”

The Company has used a portion of the proceeds from the Notes offering, along with cash on hand to, (i) purchase for cash pursuant to a tender offer, such of the Company’s outstanding 2026 Senior Second Lien Notes that were validly tendered pursuant to the terms thereof (the “Tender Offer”), (ii) repay outstanding amounts under the MRE Term Loan, (iii) fund the full redemption amount for an August 1, 2025 redemption of the remaining 2026 Senior Second Lien Notes not validly tendered and accepted for purchase in the Tender Offer and (iv) pay premiums, fees and expenses related to the offering of Notes, the Tender Offer, the redemption of the remaining 2026 Senior Second Lien Notes, the satisfaction and discharge of the indenture governing the 2026 Senior Second Lien Notes and the repayment of the MRE Term Loan. On the closing date of the offering of the Notes, the Company completed all actions necessary to satisfy and discharge the indenture governing the 2026 Senior Second Lien Notes.

On January 28, 2025, in conjunction with the issuance of the Notes, the Company entered into a credit agreement (the “Credit Agreement”), by and among the Company, as borrower, Texas Capital Bank, as Administrative Agent, lender and L/C Issuer, TCBI Securities, Inc., doing business as Texas Capital Securities, as Lead Arranger and Bookrunner, the other lenders named therein and other parties thereto which provides the Company a revolving credit and letter of credit facility (the “Credit Facility”), with initial lending commitments of $50 million with a letter of credit sublimit of $10 million. The Credit Facility matures on July 28, 2028.

The Credit Facility is guaranteed by each of the Company’s wholly owned direct and indirect subsidiaries (the “Guarantors”) and is secured by a first-priority lien on substantially all of the natural gas and oil properties and personal property assets of the Company and the Guarantors, other than the Company’s membership interest in its Unrestricted Subsidiaries (as defined in the Credit Agreement) and minority ownership in certain joint venture entities. Certain future-formed or acquired majority-owned domestic subsidiaries of the Company may also be required to guarantee the Credit Facility and grant a security interest in substantially all of their natural gas and oil properties and personal property assets to secure the obligations under the Credit Facility.

This press release is being issued for informational purposes only and does not constitute an offer to purchase or a solicitation of an offer to sell the 2026 Senior Second Lien Notes, and it does not constitute a notice of redemption of the 2026 Senior Second Lien Notes.

The Notes and the related guarantees have not been and will not be registered under the Securities Act or any other securities laws, and the Notes and the related guarantees may not be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws. The Notes and the related guarantees are being offered only to persons reasonably believed to be qualified institutional buyers in the United States under Rule 144A and to non-U.S. investors outside the United States pursuant to Regulation S.

This press release is being issued for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a sale of the Notes, the related guarantees, or any other securities, nor does it constitute an offer to sell, a solicitation of an offer to buy or a sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

ABOUT W&T OFFSHORE

W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of Mexico and has grown through acquisitions, exploration and development. As of September 30, 2024, the Company had working interests in 53 fields in federal and state waters (which include 46 fields in federal waters and 7 in state waters). The Company has under lease approximately 673,100 gross acres (515,400 net acres) spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi and Alabama, with approximately 514,000 gross acres on the conventional shelf, approximately 153,500 gross acres in the deepwater and 5,600 gross acres in Alabama state waters. A majority of the Company’s daily production is derived from wells it operates.

FORWARD-LOOKING AND CAUTIONARY STATEMENTS

This press 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 statements other than statements of historical facts included in this release regarding the Company’s financial position, operating and financial performance, and potential to return fields back to production are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes, although not all forward-looking statements contain such identifying words. Items contemplating or making assumptions about actual or potential future production and sales, prices, market size, and trends or operating results also constitute such forward-looking statements.

These forward-looking statements are based on the Company’s current expectations and assumptions about future events and speak only as of the date of this release. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, as results actually achieved may differ materially from expected results described in these statements. The Company does not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of such statements, unless required by law.

Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially including, among other things, the regulatory environment, including availability or timing of, and conditions imposed on, obtaining and/or maintaining permits and approvals, including those necessary for drilling and/or development projects; the impact of current, pending and/or future laws and regulations, and of legislative and regulatory changes and other government activities, including those related to permitting, drilling, completion, well stimulation, operation, maintenance or abandonment of wells or facilities, managing energy, water, land, greenhouse gases or other emissions, protection of health, safety and the environment, or transportation, marketing and sale of the Company’s products; inflation levels; global economic trends, geopolitical risks and general economic and industry conditions, such as the global supply chain disruptions and the government interventions into the financial markets and economy in response to inflation levels and world health events; volatility of oil, NGL and natural gas prices; the global energy future, including the factors and trends that are expected to shape it, such as concerns about climate change and other air quality issues, the transition to a low-emission economy and the expected role of different energy sources; supply of and demand for oil, natural gas and NGLs, including due to the actions of foreign producers, importantly including OPEC and other major oil producing companies (“OPEC+”) and change in OPEC+’s production levels; disruptions to, capacity constraints in, or other limitations on the pipeline systems that deliver the Company’s oil and natural gas and other processing and transportation considerations; inability to generate sufficient cash flow from operations or to obtain adequate financing to fund capital expenditures, meet the Company’s working capital requirements or fund planned investments; price fluctuations and availability of natural gas and electricity; the Company’s ability to use derivative instruments to manage commodity price risk; the Company’s ability to meet the Company’s planned drilling schedule, including due to the Company’s ability to obtain permits on a timely basis or at all, and to successfully drill wells that produce oil and natural gas in commercially viable quantities; uncertainties associated with estimating proved reserves and related future cash flows; the Company’s ability to replace the Company’s reserves through exploration and development activities; drilling and production results, lower–than–expected production, reserves or resources from development projects or higher–than–expected decline rates; the Company’s ability to obtain timely and available drilling and completion equipment and crew availability and access to necessary resources for drilling, completing and operating wells; changes in tax laws; effects of competition; uncertainties and liabilities associated with acquired and divested assets; the Company’s ability to make acquisitions and successfully integrate any acquired businesses; asset impairments from commodity price declines; large or multiple customer defaults on contractual obligations, including defaults resulting from actual or potential insolvencies; geographical concentration of the Company’s operations; the creditworthiness and performance of the Company’s counterparties with respect to its hedges; impact of derivatives legislation affecting the Company’s ability to hedge; failure of risk management and ineffectiveness of internal controls; catastrophic events, including tropical storms, hurricanes, earthquakes, pandemics and other world health events; environmental risks and liabilities under U.S. federal, state, tribal and local laws and regulations (including remedial actions); potential liability resulting from pending or future litigation; the Company’s ability to recruit and/or retain key members of the Company’s senior management and key technical employees; information technology failures or cyberattacks; and governmental actions and political conditions, as well as the actions by other third parties that are beyond the Company’s control, and other factors discussed in W&T Offshore’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q found at www.sec.gov or at the Company’s website at www.wtoffshore.com under the Investor Relations section.

CONTACT:

Al Petrie
Investor Relations Coordinator
investorrelations@wtoffshore.com
713-297-8024

Sameer Parasnis
Executive Vice President and Chief Financial Officer
sparasnis@wtoffshore.com
713-513-8654

Source: W&T Offshore, Inc.

Source: W&T Offshore, Inc.

Released January 29, 2025
MIL OSI Economics –
January 30, 2025

Category: KB

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