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  • MIL-OSI: ASUS Unveils Signature Edition Zenbook Series at “Design You Can Feel” Exhibition

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, April 07, 2025 (GLOBE NEWSWIRE) — ASUS today announced the global unveiling of a signature edition series of its iconic Zenbook at the “Design You Can Feel” exhibition in Milan. This exclusive release transforms the celebrated Zenbook into a narrative of nature’s splendor through four distinct, nature-inspired finishes, each a tribute to Earth’s dynamic landscapes. At the same time, it reinforces the Zenbook series’ legacy of combining high-performance technology with refined, functional aesthetics.

    Signature Edition Series: A tribute to nature’s elements

    In this unique series, each Zenbook is transformed into a narrative piece that echoes the beauty and complexity of nature. Crafted using the revolutionary ASUS Ceraluminum™ technology—a breakthrough material that merges the strength of aluminum with the durability of ceramic—each signature edition finish is created with a sustainable, one-of-a-kind manufacturing process:

    • Geldingadalir, Iceland – Obsidian Black: Inspired by Iceland’s volcanic landscapes, this finish masterfully balances matte and glossy textures. Precision laser sintering recreates the natural flow of cooling lava, evoking both the raw energy and the serene balance of fire-forged terrain.
    • Pamukkale, Turkey – Pamukkale White: Drawing on the tranquil beauty of cascading terraces and mineral-rich waters, this variant features dual golden sheens. Advanced CNC diamond cut precision milling refines every curve and shimmer, capturing the interplay between flowing water and solid stone.
    • Wadi Rum, Jordan – Terra Mocha: Reflecting the rugged elegance of sandstone cliffs and shifting dunes, this edition incorporates an intricate, rosette-like pattern achieved solely through the ASUS proprietary ceramization technology. The tactile finish celebrates the organic dialogue between nature’s unpredictability and the precision of modern engineering.
    • Vaadhoo Island, Maldives – Luminous Blue: Capturing the mesmerizing glow of bioluminescent ocean shores, this finish uses calibrated laser-induced oxidation to create a dynamic interplay of light and texture. Its soft, natural luminescence evokes the enchanting magic of starlit waves.

    Each signature edition device is more than just a color variation—it is a testament to the commitment ASUS has to sustainability and innovative design, with every piece bearing a unique pattern that mirrors nature’s singular beauty. From the laptops to the sleeves and packaging, every part is created with eco-friendliness in mind. The sleeve bag, crafted from Kvadrat Febrik’s knitted upholstery textile Arda, embodies this philosophy by drawing inspiration from the intricate forms and textures of the natural world. Made primarily from wool and produced using an innovative technique that significantly reduces water consumption, Arda reflects a dedication to minimizing its impact on the natural environments that it mimics. Each finish is a reminder of the ASUS commitment—not just to design, but to a philosophy—to create tools that are as enduring as the landscapes that inspire them. 

    The release date of the ASUS Zenbook Ceraluminum™ Signature Edition will be announced at a later time.

    Ceraluminum™: Inspired by nature, engineered for a sustainable future

    At the heart of these signature editions lies the patented ASUS Ceraluminum technology—a material revolution that redefines durability and sustainability. This innovative material is used to build the Zenbook series laptops including the latest Zenbook A14. Ceraluminum is an innovative material that combines the lightness of aluminum with the resilience of ceramic. The process involves ceramizing aluminum, which results in a material that is lighter and has a fracture toughness 10 times higher than traditional ceramic. This process results in:

    • Unrivaled Durability: The ceramic-like finish delivers exceptional scratch resistance and long-lasting resilience.
    • Unique Aesthetics: Every device features its own distinctive pattern, celebrating nature’s inherent diversity.
    • Sustainable Manufacturing: By eliminating traditional chemical processes, Ceraluminum is 100% recyclable and environmentally responsible.

    This breakthrough not only enhances the Zenbook series’ premium look but also reinforces the commitment ASUS has to eco-friendly innovation.

    Zenbook: Where art meets advanced engineering

    Engineered to empower modern professionals, the Zenbook epitomizes the perfect blend of form and function. Built with the robust internals of the Zenbook S14 Copilot+ PC, it delivers tangible benefits designed to enhance everyday productivity:

    • Ultra-Thin, High-Performance Design: Crafted with state-of-the-art CNC milling, its ultra-slim chassis not only captivates with its aesthetic appeal but also provides exceptional portability. The integrated vapor chamber cooling system ensures peak performance, even during demanding tasks.
    • Intuitive, User-Centric Experience: Featuring a dedicated Windows Copilot key and an expansive 16:10 seamless touchpad with smart gesture support, the Zenbook streamlines user interaction and multitasking. The vibrant 3K 120Hz ASUS Lumina OLED display offers lifelike visuals, while the Harman Kardon-certified audio system delivers immersive, cinematic sound.
    • Next-Generation Power: Powered by the latest AI-enabled Intel® Core™ Ultra processor (Series 2) paired with Intel Arc™ graphics, along with up to 32GB of fast memory and a 1TB PCIe® 4.0 SSD, the Zenbook ensures swift performance, reliable multitasking, and enhanced efficiency—all in an ultra-quiet, cool operating environment.

    The result is a laptop that not only elevates productivity but also transforms everyday computing into an engaging, sensory-rich experience.

    An immersive journey into design and innovation

    The Design You Can Feel exhibition in Milan invites visitors to embark on an immersive journey where technology, craftsmanship, and nature converge. Alongside interactive installations by Studio INI, attendees can experience firsthand the tactile beauty of Ceraluminum and the refined elegance of the signature edition Zenbook series. This dynamic showcase reinforces the commitment ASUS has to crafting products that resonate emotionally, perform flawlessly, and set new standards for sustainable innovation.

    For more information about the Design You Can Feel exhibition during Milan Design Week 2025, please see: https://asus.click/mdw25_pr   

    For more information on the signature edition Zenbook series and to stay updated on future availability, please follow ASUS on social media and visit https://www.asus.com/

    NOTES TO EDITORS

    More on ASUS at Milan Design Week: https://www.asus.com/ca-en/content/zenbook/
    About ASUS Zenbook Ceraluminum™ Signature Edition: https://youtu.be/OoOHFiBDu9g
    About the Making of Ceraluminum™: https://www.youtube.com/watch?v=z1T3HgeX8qU
    ASUS Zenbook Design Why and How: https://www.youtube.com/watch?v=9cypFEe7-Fg
    ASUS Zenbook: https://www.asus.com/ca-en/laptops/for-home/zenbook/
    ASUS ProArt: https://www.asus.com/ca-en/proart/
    ASUS Vivobook: https://www.asus.com/ca-en/laptops/for-home/vivobook/
    ASUS LinkedIn: https://www.linkedin.com/company/asus/posts/
    ASUS Zenbook A14: https://www.asus.com/ca-en/laptops/for-home/zenbook/asus-zenbook-a14-ux3407/
    ASUS Pressroom: http://press.asus.com
    ASUS Canada Facebook: https://www.facebook.com/asuscanada/
    ASUS Canada Instagram: https://www.instagram.com/asus_ca
    ASUS Canada YouTube: https://ca.asus.click/youtube
    ASUS Global X (Twitter): https://www.x.com/asus

    About ASUS

    ASUS is a global technology leader that provides the world’s most innovative and intuitive devices, components, and solutions to deliver incredible experiences that enhance the lives of people everywhere. With its team of 5,000 in-house R&D experts, the company is world-renowned for continuously reimagining today’s technologies. Consistently ranked as one of Fortune’s World’s Most Admired Companies, ASUS is also committed to sustaining an incredible future. The goal is to create a net zero enterprise that helps drive the shift towards a circular economy, with a responsible supply chain creating shared value for every one of us.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a2193bea-9d44-4772-81f5-b7f739717190

    The MIL Network –

  • MIL-OSI Global: How the struggles of the UK hospitality sector could hit the rest of the economy

    Source: The Conversation – UK – By Zoe Adjey, Senior Lecturer in Hospitality and Events, University of East London

    Across the UK, Mother’s Day represented a vital revenue opportunity for the hospitality sector. Bars, restaurants, cafés and pubs would have anticipated a boost courtesy of family groups – and some spring-like weather. Sadly though, due to some harsh financial realities including higher tax and wage bills coming into force now, many of these establishments may not survive to serve customers next Mother’s Day.

    The budget has introduced measures that are projected to directly increase the average hospitality wage bill by up to 8.5% thanks to increases in the minimum wage and employer national insurance contributions.

    The UK’s most recent GDP figures showed the country’s economy shrank by 0.1% in January. But behind this small decline there was a more concerning trend. Trade in the hospitality industry fell by 2.4% – the biggest economic contraction among the figures – after it had shown promising growth of 0.9% in December.

    It’s likely that customers saw so-called “awful April” on the horizon – bringing rises in a range of utility and consumer costs – and were beginning to curb their spending. But costs are rising for venues too. Many of those bars, cafés, restaurants and hotels that remain open will have to increase prices and cut opening hours to make the numbers add up.

    Behind each closed pub or empty restaurant lies a story that goes far beyond its four walls. I’ve worked in the sector since my teenage years – from family-run establishments on the Northern Irish coast to venues in London and overseas – and I’ve seen firsthand how business closures affect people. Now, as a lecturer in hospitality, I can see what support this unique sector needs to weather the storm.

    I have seen small seaside cafes where owners knew every customer by name, providing essential social connections for elderly visitors who may not have had another social interaction that day. When these cafes closed, the community bonds were severed overnight.

    Every shuttered hotel or bar means people losing their livelihoods, perhaps mothers working part-time to balance employment and childcare or students funding their education. The impact of these closures is immediate and profound, and extends throughout the supply chain.

    They affect the dairy farmer who supplied the milk, the baker who made fresh pastries each morning, and the technician who serviced the coffee machines. This interconnected web generated £121 billion in economic activity in 2022 across the UK.

    Weddings and wakes

    Pubs and cafes are more than just businesses. Often, they’re the beating hearts of communities. These are the spaces where neighbours stop to chat, where chance encounters bloom into lifelong friendships and romances, and where people come together for weddings and wakes. When the shutters come down, it represents a tear in the community fabric and threatens the cohesion of neighbourhoods.

    As the gathering places where communities come together, pubs and cafes simultaneously create livelihoods that support those same communities. Hospitality in the UK employs an extraordinary 3.5 million people directly (and another three million indirectly through supply chains and support industries). This makes it the UK’s third largest employer, behind only retail and healthcare.

    This dual role, as both social hub and major employer, makes these establishments uniquely valuable.

    The stark GDP figures for hospitality at the start of 2025 expose a concerning shift in consumer habits, with fewer people choosing to book a table in a restaurant, instead making do with buying in groceries for a meal at home. This harks back to the times of COVID lockdowns. Even people who still visit hospitality venues are spending less per visit, compounding the revenue challenges.

    When a family chooses to eat at home rather than visit their local restaurant, the impact extends far beyond that empty table. Farmers, delivery drivers, kitchen manufacturers and cleaning services (to name just some) all feel the pinch.

    For the small businesses in the hospitality supply chain – many of which derive more than 80% of their income from the sector – this spending shift is an existential threat. Historically, such changes in consumer behaviour have been early indicators of broader economic downturns, making this pattern particularly worrying.

    A VAT reduction offers a compelling solution for UK hospitality business. European countries like Italy and France charge 10% on “food for immediate consumption”, while in Greece it’s 13%. These are far below the UK’s 20%. A change along these lines could protect customers against price rises, improve business cash flow, and offset the wage and NI contribution increases.

    And there is precedent for this. During the 2008 recession, Chancellor Alistair Darling cut VAT from 17.5% to 15% for 13 months as part of a stimulus. The following year’s budget reported “positive early signs” of lower prices supporting consumer spending.

    But right now, this combination of rising costs and reduced consumer spending creates a perfect storm for an industry that has traditionally underpinned economic recoveries. With millions of people relying on hospitality for their livelihoods, this trajectory of decline must be corrected – or there will be profound implications for the wider pattern of economic growth across the UK.

    Zoe Adjey 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. How the struggles of the UK hospitality sector could hit the rest of the economy – https://theconversation.com/how-the-struggles-of-the-uk-hospitality-sector-could-hit-the-rest-of-the-economy-253507

    MIL OSI – Global Reports –

  • MIL-OSI Global: Hip-hop can document life in America more reliably than history books

    Source: The Conversation – USA – By A.D. Carson, Associate Professor of Hip-Hop, University of Virginia

    Faculty, staff and students, including then-Ph.D. student A.D. Carson, protest at Clemson University in 2016. AP Photo/Jeffrey Collins

    Describing my 2017 appointment as a faculty member, the University of Virginia dubbed me the school’s “first” hip-hop professor. Even if the job title and the historic nature of the appointment might have merited it, the word was misleading.

    Kyra Gaunt, a Black woman who is a foundational figure in the study of hip-hop, worked as a professor of ethnomusicology at the University of Virginia from 1996 to 2002. Her book “The Games Black Girls Play,” which focuses on Black music practices, was published in 2006. I cited her in my work and in the interview I gave before accepting the job.

    Also cited in my doctoral work, presented in my interview with the University of Virginia, was scholar Joe Schloss, who worked at the school from 2000-2001. In 2009, he wrote “Foundation: B-boys, B-girls, and Hip-Hop Culture in New York.” And in 2014 he wrote “Making Beats: The Art of Sample-Based Hip-Hop.”

    After pushback from readers online, UVA Today amended its original headline documenting my appointment and added Gaunt’s contributions to the article.

    As a rapper and scholar, I have experienced and seen misleading hip-hop stories that highlight an impulse to inaccurately document the genre’s history and present. I raised this issue recently in a TikTok “office hours” video – part of a series in which I respond to audience questions from the vantage of hip-hop art and research.

    Misleading hip-hop stories

    After Johns Hopkins University announced that Lupe Fiasco had been hired to teach rap there in fall 2025, some online platforms, including The Root, incorrectly reported on his assignment.

    They described his upcoming job as the first instance of a rapper ever hired as a professor at a university.

    This is obviously incorrect. I’m a rapper who since 2017 has worked as a professor of hip-hop while releasing music, which was part of the basis for my earning tenure in 2023. Besides this, I’m certain there were rappers with university teaching jobs before me.

    The trend of misrepresenting hip-hop history isn’t unique to communications from places such as Johns Hopkins University or the University of Virginia.

    In 2024, the publisher of musician Ahmir “Questlove” Thompson’s “Hip-Hop is History” described it as “the book only Questlove could write: a singular, definitive history” of hip-hop.

    Questlove’s book is not, as the publisher claims, a definitive history. It might more accurately be described as Questlove’s take on hip-hop history, or a memoir. Without this necessary distinction, unknowing readers might misinterpret the publisher’s claims.

    Questlove writes about finally coming to appreciate Southern rap in the 2000s. But Southern rap history predates Questlove’s appreciation by decades. It doesn’t begin when someone like him finally recognizes its importance.

    Similarly, hip-hop doesn’t begin when it’s finally recognized by an exclusive institution or when someone gets a degree for it.

    Lupe Fiasco will teach rap at Johns Hopkins University starting in fall 2025.
    Steve Jennings/WireImage

    Making hip-hop history

    I published these concerns as academic questions in 2017 in an album called “Owning My Masters: The Rhetorics of Rhymes & Revolutions.” The project served as my doctoral dissertation.

    “Owning My Masters (Mastered)” is the next phase of the dissertation album project. Published in 2024, it contains new audio, video, images and historical context. It’s published with University of Michigan Press through the same process of an academic book.

    ‘Owning My Masters (Mastered): The Rhetorics of Rhymes & Revolutions’ album cover.
    University of Michigan Press

    “Owning My Masters (Mastered)” demonstrates how hip-hop resists the ways American history often excludes Black resistance, Black achievement, Black storytelling and, ultimately, Black people.

    But the exclusion that my work highlights is muted when the seeming novelty of my job appointment or my dissertation album are the focus. When I’m asked if I’m the first person to earn a Ph.D. for making a rap album, I try to answer more expansively to avoid misleading anyone, or ignoring what might be more informative.

    It’s also important to understand the barriers that might have made a project like mine impossible before 2017. These include technological barriers that made recording and releasing music prohibitively expensive. And, more specific to hip-hop, it involves a mistrust based on racist history that prevented students from even proposing such a project.

    No such “first” happens without the unsung work of others creating the conditions to make it possible.

    Learning from hip-hop

    Hip-hop’s documentation should not repeat the same flaws of the recording of American history, which can omit important people and events, and which can misrepresent the legacies of racism and systemic violence.

    Undeniably, I believe important hip-hop texts, albums and moments should be studied and documented with academic rigor. But this should not solely focus on “firsts,” record sales or prestigious awards.

    Such stories fail to accurately illustrate that hip-hop is as much about how people live day to day as it is about how institutions use it to bolster credibility or how companies make money off it.

    Important aspects of hip-hop’s diverse culture are excluded when the ordinary is overlooked.

    Creating hip-hop is one among the many ways Black people have persevered in the U.S.

    Universities and other exclusionary institutions helped sustain – and, in certain ways, continue to benefit from – hellish conditions like those created by slavery.

    Hip-hop is, in part, a response to this history.

    At its best, hip-hop documents American life more reliably than American history.

    Some academic publishers have started to embrace this reality.

    My 2020 album “i used to love to dream” may be noteworthy as the first rap album to be peer-reviewed and published with an academic press. More importantly, its contents are about historic erasure of Black people and Black history in my hometown, Decatur, Illinois.

    Hip-hop’s popularity, its constant revision and its accessibility make it a powerful vehicle for disrupting inaccurate, exclusionary and fabricated tales passed off as objective facts.

    The genre has documented events such as the Tuskegee syphilis study – the 40-year experiment, conducted without informed consent, on Black men by the U.S. Public Health Service to study the effects of the disease when left untreated.

    Hip-hop has also cataloged tragedies such as the 1921 Tulsa race massacre – a two-day assault by white mobs on their Black neighbors – and the 1995 Million Man March, a large gathering of Black men in Washington, D.C.

    The media ecosystem in which hip-hop has thrived is also steeped with the scapegoating of its art and artists. This scapegoating is weaponized by critics to devalue the culture.

    It seems unwise to me to trust institutions such as universities and the media to determine what’s deemed culturally significant. Along with influencers and podcasters who benefit from hip-hop, they can learn valuable lessons from it.

    Their ability to determine what’s deemed culturally significant is especially problematic if their choices are primarily in exchange for revenue or credibility. If hip-hop is viewed as a cultural inheritance, then its value – and what’s considered historically important – may be better arbitrated by people in the culture, not outside forces.

    A.D. Carson does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Hip-hop can document life in America more reliably than history books – https://theconversation.com/hip-hop-can-document-life-in-america-more-reliably-than-history-books-249532

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Government and industry to train up ‘clean power army’

    Source: United Kingdom – Executive Government & Departments

    Press release

    Government and industry to train up ‘clean power army’

    Government and industry to train up ‘clean power army’ of apprentice engineers, welders, and technicians.

    • Clean energy sector to create thousands of new apprenticeships as part of Plan for Change
    • Energy Secretary tells industry forum that a clean power army of engineers, welders and technicians will be required to deliver clean power by 2030, and that government will work with industry to build it, with Regional Skills Pilots in Aberdeen, Cheshire, Lincolnshire, and Pembrokeshire
    • Work and Pensions Secretary says the government will “give this generation the tools they need to seize the opportunity that is the clean energy transition”

    Young people will be trained to fill thousands of clean energy jobs and apprenticeships needed to deliver clean power by 2030 as part of the government’s Plan for Change to get Britain working and unlock growth.  

    The Energy Secretary has told industry, unions and trade bodies that the government will work with them to build a clean power army to hit ambitious targets for clean power by 2030 at a forum convened with the Work and Pensions Secretary today (Monday 7 April 2025).  

    The transition to clean power will create thousands of opportunities across the sector, from renewables to upgrading the UK’s grid infrastructure.  

    National Grid alone plans to support around 55,000 more jobs by the end of the decade and SSE Transmission plans are supporting a further 37,000 jobs, 17,500 of which would be in Scotland. Scottish Power’s SP Energy Networks plans to double its transmission workforce to create around 1,400 jobs and support a further 11,000 jobs across the UK – with all 3 plans subject to approvals by the regulator.    

    The government is driving forward with Regional Skills Pilot in the clean energy sector. Aberdeen, Cheshire, Lincolnshire and Pembrokeshire have all been identified as key growth regions for clean energy. Local partners will receive funding to identify the skills support that is needed in their area to deliver clean power by 2030, which will protect households and businesses from unstable fossil fuel markets for good. 

    Funding could go towards new training centres, courses or career advisers – supporting local people into opportunities in industries such as welding, electrical engineering, and construction.    

    The government is wasting no time in investing in good jobs for British industries, including thousands of new, skilled jobs being supported in the North East of England as contracts for the first carbon capture, usage and storage were signed in December, following a £21.7 billion commitment from the government to ensure the UK’s vision for CCUS becomes a reality. The government has also invested £55 million for port of Cromarty, to transform it into a major hub for the UK’s world-leading floating offshore wind industry, creating hundreds of skilled jobs and generating growth.  

    The latest CBI Economics figures show jobs supported by net zero sectors increased by 10% last year, with the average annual wage across the sector at £43,000 – £5,600 higher than the national average.  

    The push to support more clean energy jobs comes as the government delivers the most ambitious reforms of the UK’s energy system in a generation and record investment into homegrown clean energy projects. 

    Energy Secretary Ed Miliband said:  

    The energy sector has always been a source of good, skilled, and unionised jobs for young people across the UK, providing secure, well-paid employment for life.   

    To meet our target to reach clean power by 2030, we need a clean power army of engineers, welders and technicians – giving thousands of young people the opportunity to play a vital role in tackling the climate crisis, increasing our energy security and boosting the economy to deliver our Plan for Change.

    Work and Pensions Secretary Liz Kendall said:    

    With almost a million young people neither earning nor learning it is vital that we give this generation the tools they need to seize the opportunity that is the clean energy transition.  

    Our plan to Get Britian Working will overhaul employment support, giving everyone the tools and skills they need to and build a stronger, more prosperous future for them and their families.

    The government launched its Get Britain Working white paper late last year, outlining the biggest employment reforms in a generation and boost employment including reforming Jobcentres to create a genuinely public employment service so everyone can get personalised skills and employment support, as well as a Youth Guarantee ensuring every young person has the chance to earn or learn. Alongside government work to drive up employment and opportunities, the renewable sector will also continue to turbocharge the economy.  

    The government is working closely with employers to train up Britain’s young people to seize clean energy opportunities. Trade unions will also have an essential role in building the UK’s skilled energy workforce, with the government determined to drive world-class pay, terms, and conditions in the clean energy sector. The government is already driving better access and conditions for unions in the energy sector- since July EDF Renewables UK and Ireland have signed one of the first renewables industry recognition agreements with Prospect, Unite, GMB and UNISON.   

    The government has also launched Skills England and the Office for Clean Energy Jobs to bring together key partners to meet the skills needs of the next decade across all regions.    

    Opportunities are already being created through a number of schemes and initiatives to deliver training and skills for apprentices and workers transitioning from the fossil fuel sector, including innovative schemes such as the:  

    • Skills Passport: This supports oil and gas workers to identify routes into several roles in offshore wind including construction and maintenance
    • Your Apprenticeship app: A new app designed by the government with extensive input from apprentices to provide easier access to essential tools, resources, and support to help apprentices to thrive in their qualification

    Whilst driving up employment and opportunities, the renewable sector will also continue to turbocharge the economy.  

    CBI Economics analysis commissioned by the Energy and Climate Intelligence Unit shows that the net zero sector already contributes £83 billion annually to the UK economy, with further investment into projects predicted to grow this even further.  

    Government research has also revealed the extent in which apprenticeships can help drive this growth, with apprentices in England across the economy estimated to create £25 billion of economic growth over their lifetime.  

    Through investment and initiatives, the government will help build the pipeline of skilled workers needed to deliver clean power by 2030, which will unlock £40 billion of investment a year and reindustrialise Britain with thousands of good jobs across the country. This underscores the government’s commitment to deliver a jobs-rich clean energy transition, putting communities and trade unions at the heart of the UK’s clean energy future.    

    Notes to editors

    Skills is a devolved policy area, and therefore the remit of Skills England and the Your Apprenticeship App will only cover England. However, Skills England will assess skills needs across the whole of the UK and DESNZ is working closely with the devolved governments on ensuring we have the skilled workforce for the clean energy transition, including through the Regional Skills Pilots.   

    The RIIO T3 business plans for the UK’s 3 electricity transmission companies are all subject to approval by the energy regulator Ofgem.

    Updates to this page

    Published 7 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Crapo: Republicans are United in Delivering Trump’s Pro-Growth Agenda

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo
    Washington, D.C.–Today on the Senate floor, U.S. Senate Finance Committee Chairman Mike Crapo (R-Idaho) discussed the Senate’s Fiscal Year (FY) 2025 Budget Resolution that lays the groundwork to make permanent and build on the 2017 Trump Tax Cuts, ensuring American families can keep more of their hard-earned money and stop financing Washington’s spending problem.
    As Chairman of the Finance Committee, Crapo explained that the resolution’s instructions would unlock the ability for Congress to prevent a more-than $4 trillion tax hike on American families and businesses, provide certainty and predictability by making the Trump Tax Cuts permanent, and deliver additional middle-class tax relief. 
    Crapo also emphasized Republicans’ commitment to restoring fiscal sanity by achieving deficit reduction, noting that spending reforms are the best way to achieve that goal, not imposing the largest tax hike in our country’s history. 

    Full remarks as delivered:
    “The problem that we have in America is not that our taxes are too low, but that our spending is too high.
    “Republicans are unified in delivering—as President Trump calls it—one big, beautiful bill for the American people. 
    “But what does this bill include?
    “The FY 2025 Budget Resolution fulfills promises to secure America’s borders, increase our national defense, unleash our energy potential and finally start to get our fiscal house in order. 
    “I agree completely with my colleague – we have got to reduce our spending and this bill contains a target with a minimum floor of $2 trillion in spending reduction in our federal budget. 
    “Importantly, it also lays the groundwork to make permanent and build on the 2017 Trump Tax Cuts so that American families can keep more of their hard-earned money and stop financing Washington’s spending problem.
    “Our conference is united in preventing an over-$4 trillion tax hike on American families and businesses and delivering additional tax relief to those who have suffered under four years of inflation.
    “We are united in making this proven tax policy permanent to provide the certainty that businesses need to make the long-term investments that drive growth, and the stability that families need as they save and plan for the future.
    “We are also unified in our resolve to restore fiscal sanity and know that the best way to do so isn’t to tax hardworking Americans more—it’s to spend less.
    “While many tend to focus on the policy disagreements that occur—as they should—in these halls, the reality is Republicans are completely unified in delivering on President Trump’s agenda, a major portion of which is to restore the economic prosperity experienced under his previous presidency.
    “Let’s just look back for a minute at the bill we’re trying to extend and make permanent now.
    “Most Americans don’t pay attention to the minutia of tax policy.  But if you ask them, the majority will tell you they’d rather keep more of their money than let the government spend it, and that’s exactly what the 2017 tax cuts did.
    “Those Trump Tax Cuts lowered tax rates for the overwhelming majority of Americans, simplified the tax code, and encouraged companies to do business in the United States instead of abroad.
    “In addition to lowering rates across the board, it provided targeted tax relief to middle-class working families by doubling the standard deduction and the child tax credit, and to small businesses by providing a new 20 percent deduction, enabling America’s entrepreneurs to create new jobs, increase workers’ wages and reinvest in their business.
    “The majority of benefits from the Trump Tax Cuts, contrary from what you’ve heard today from the other side, flowed to working middle-class families—the bottom 50 percent of earners received the largest reduction in average tax rates at 17.3 percent. 
    “Contrary to claims that the benefits were only for ‘billionaires and corporations,’ the Trump Tax Cuts actually made the tax code even more progressive.  Meaning that the highest income earners now pay a greater share of all income taxes than they did before, and if we can extend this tax cut, that will continue to be the case.
    “The generational reforms we made in 2017 were designed to strengthen investment, boost economic growth, increase take-home pay and reduce poverty, and it worked.
    “Not only did taxpayers keep more of their hard-earned money, but a growing economy powered median household income to an all-time high.
    “The labor market improved, workers saw record wage growth and the unemployment rate fell dramatically to 3.5 percent—the lowest in 50 years. 
    “And the lowest-income workers experienced the largest wage growth.
    “There was a capital formation explosion in the United States, and corporate inversions—corporations leaving America—became a thing of the past as companies came back home and America became the place to do business again.
    “All Americans reaped the benefits of a booming economy. 
    “Extending this current, proven tax policy—and building on it—is the best way to restore economic prosperity and opportunity for working families, many of whom are still struggling to recover from the historic inflation of the last four years.
    “Tonight, I expect we’ll hear once again the ‘politics of fear’ at work as my Democrat colleagues claim all sorts of dire things will happen so that Republicans can cut taxes for the wealthy. 
    “This attack has been used for nearly a decade, and it’s just as false now as it has been in the past.
    “Americans should not be scared by these falsehoods. 
    “What they should be alarmed by is what my colleagues and I are committed to preventing: the largest tax hike in history that will occur if we do not extend the current Trump’s Tax Cuts.
    “Middle-class Americans and small businesses will pay the highest price. 
    “If the tax cuts expire:
    There will be a $4+ trillion tax hike on all Americans.
    More than $2.6 trillion of that tax increase will hit people who earn less than $400,000 per year.
    The average American household will see a more-than $1,700 increase in their tax bill.
    An over $600 billion tax increase on more than 20 million small business owners, who could face rates as high as 43.4 percent. 
    Families would have their child tax credit slashed in half from $2,000 to $1,000.
    The standard deduction, claimed by over 90 percent of taxpayers, would be cut in half.
    The economic cost has been estimated to be 6 million jobs; $540 billion in employee compensation, and $1.1 trillion of GDP.
    “Republicans are united in our efforts to prevent these damaging consequences.
    “Not only are we focused on extending these proven tax policies, but we are committed to making this growth in our economy permanent so that we don’t have to face these dire consequences in the future. 
    “Permanent tax policies promote stability and lead to more pronounced economic effects than temporary ones. 
    “Making the Trump Tax Cuts permanent will provide businesses the certainty and stability they need to make the long-term investments that drive growth, accelerate productivity and increase prosperity across all segments of the economy.
    “Studies find that a permanent extension of TCJA would increase long-run GDP by 1.1 percent and increase after-tax income for Americans of all income levels. 
    “Making the small-business deduction alone permanent is estimated to create 1.2 million jobs annually over the first ten years, increasing to 2.4 million in the long run.
    “The President’s Council of Economic Advisers just released an analysis that says extending the Trump Tax Cuts, combined with other pro-growth economic policies that we are pursuing, would:
    Boost the level of short-run real GDP by 3.3 to 3.8 percent and long-run real GDP by 2.6 to 3.2 percent;
    Raise annual real wages by $2,100 to $3,300 per worker;
    Increase real annual take-home pay for a median-income household with two children by roughly $4,000 to $5,000;
    Save over 4 million full-time equivalent jobs from being destroyed; and
    Facilitate $100 billion of investment in distressed communities.
    “That analysis also projects that extending these tax cuts, ’together with the full suite of Trump Administration policies—such as deregulation, which the CEA previously estimated would add 0.1 to 0.2 percentage points to real GDP growth rates over a decade—is expected to result in 3.0 percent annual real GDP growth rates over the next 10 years.’ 
    “Now what does that mean?
    “According to CEA, that 3.0 percent annual real GDP growth will result in $4.1 trillion in additional revenue to the Treasury to help us deal with our national debt.
    “$4.1 trillion dollars.
    “To unleash that growth, the best way to make these tax cuts permanent is by using a current policy baseline: this is the scoring method that more accurately reflects reality. 
    “The average American easily understands there is a difference between a tax increase and a spending cut. 
    “However, there’s an inherent bias in Congress’s scoring process where tax policy is treated differently than spending policy. 
    “If tax rates are scheduled to increase, like they are right now if we don’t act, preventing that tax hike is counted as a ‘cost’ in uncollected future revenue. 
    “But many spending programs are assumed to be extended beyond their expiration, so the spending just continues and continues, unabated, which the budget rules say do not have any cost.  That’s what we’re trying to fix today in this bill.
    “In fact, there is $2.5 trillion in spending that is automatically extended by our budget rules over the next ten years under a current policy baseline.
    “Even the Obama White House has used a current policy baseline for tax policy. They recognized there’s a difference between increasing taxes and cutting spending.
    “In 2013, they argued that a ‘current policy baseline to be the appropriate reference point, since it measures changes relative to the status quo, rather than the mix of expiring provisions and policy changes that would likely never be implemented.’
    “Interpreted, what they said is exactly what I’ve been saying.  You can’t say that just keeping the tax rates where they are and not raising them is the same as spending more money.
    “We need to level the playing field and sever the connection that creates a tax-and-spend budgeting process in Congress.
    “And that’s another thing that we’re going to do today.
    “Critics—who have been strangely silent over the years as trillions of dollars in spending has been automatically extended under a current policy baseline—now take offense to correcting the bias toward forcing federal spending. 
    “As applied only to tax policy, those critics assert that we’ll be increasing the deficit by using a current policy baseline, or we’re using this baseline to ‘hide the cost.’
    “Let me be very clear: we are not hiding the score that JCT or CBO would assign the bill under a current law baseline.  In fact, I like to see that score – it shows the amount of the tax increase that my colleagues on the other side are trying to push onto the American people.
    “But let’s be fully transparent—both an estimate based on current policy and one based on current law will be released when we consider this bill on the Senate floor, and then Americans can see what kind of savings have been given to them by not raising their taxes.
    “Under our existing tax regime, the tax revenue to GDP ratio this year will be 17.1 percent, meaning we will raise taxes for the federal Treasury—under our current tax policy—at about 17.1 percent of GDP.  It will also be about the same next year if we don’t let the taxes go up, meaning that the revenue will not appreciably change.
    “Yet my colleagues on the other side say it’s going to spike a hole in the deficit—why? Because they won’t get their hands on that $4 trillion of new tax revenue out of the American people.
    “This would not increase the debt relative to GDP; it would simply prevent a tax increase. 
    “And we need to be honest about what those tax increases would and would not do. 
    “Those who say we should let taxes go back up say, ‘Wow, then we could use it to pay down the national debt some more.’
    “Every tax increase that Congress has adopted for as long as I can remember was not used to pay down the national debt; it was used by Congress to spend more money.
    “Congress does not have a revenue problem—it has a spending problem.
    “Senate Republicans are united in our desire to take concrete steps to address our deficit and get our fiscal house in order.
    “Because the bill we’re debating today is within the confines of reconciliation, the scores and numbers that we’ll be discussing don’t reflect the full fiscal picture.
    “In order to have an honest discussion, there needs to be an acknowledgment that there are other factors at play that can generate economic growth and reductions in spending.
    “What am I talking about?  Economic growth.  As I indicated in one of the charts that we had up, the estimates from the CEA are that if we make the tax policy permanent, the confidence that will give our economy and the boost it will give our economy through proper tax incentive policy will grow the economy by as much as $4 trillion to the federal treasury.
    “The President is also directly impacting government spending through his efforts with the Department of Government Efficiency, aggressively cutting waste, fraud and abuse from our government programs.
    “Spending on federal government programs has ballooned in recent years.  We have a responsibility to evaluate these spending increases to ensure these programs work efficiently and effectively for everyone.  
    “The President has also undertaken, and will likely pursue more, deregulation efforts, which have as big of an impact on revenues and economic growth as tax policy does, and we should recognize that.
    “The bottom line is, in addition to the actions that Congress can take, there are activities that the President is currently engaged in that will impact our fiscal policy by either reducing spending or increasing revenue, and we should take those into consideration.
    “Congress must begin the process of restoring fiscal sanity by achieving deficit reduction, and spending reforms are the best way to achieve that goal. 
    “In contrast, imposing the largest tax hike in our country’s history would be counterproductive by easing the glide path for even more spending.
    “We will be having a very robust debate in the weeks ahead about the best way to deliver on President Trump’s agenda, and I look forward to those discussions.
    “This budget resolution unlocks the process to allow us to strengthen our national security, secure our borders, permanently extend the Trump Tax Cuts and provide additional middle-class tax relief.”

    MIL OSI USA News –

  • MIL-OSI: Lánasjóður sveitarfélaga – Útboð LSS 39 0303 og LSS151155

    Source: GlobeNewswire (MIL-OSI)

    Lánasjóður sveitarfélaga hefur ákveðið að efna til útboðs á skuldabréfaflokkunum LSS 39 0303 og LSS151155 fimmtudaginn 10. apríl 2025. Lánasjóðurinn stefnir að því að taka tilboðum að fjárhæð 500 til 1.500 milljónir króna að nafnvirði í skuldabréfaflokknum LSS151155 og að fjárhæð 500 til 1.500 milljónir króna að nafnvirði í skuldabréfaflokknum LSS 39 0303. Lánasjóðurinn áskilur sér rétt til að hækka og lækka útboðsfjárhæð útboðsins, taka hvaða tilboði sem er eða hafna þeim öllum. Lánasjóðurinn hefur boðið aðalmiðlurum sjóðsins Arion banka, Íslandsbanka, Kviku banka, Landsbankanum og Fossum fjárfestingabanka að taka þátt í útboðinu.

    Óskað er eftir tilboðum í samræmi við eftirfarandi lýsingu:

    Fyrirkomulag: “Hollensk” uppboðsaðferð þar sem allir tilboðsgjafar fá sömu ávöxtunarkröfu og hæst er tekið. Heimilt er að afturkalla eða breyta tilboði með sama hætti og tilboðum er skilað inn, sé það gert fyrir lok útboðsfrests.

    Tilboð: Í tilboði skal taka fram ávöxtunarkröfu án þóknunar og tilboðsfjárhæð.  

    Að öðru leyti er vísað til skilmála skuldabréfanna á heimasíðu Lánasjóðs sveitarfélaga

    Tilboð skulu berast fyrir kl. 16:00, fimmtudaginn 10. apríl 2025 til Lánasjóðs sveitarfélaga á netfangið utbod@lanasjodur.is

    Öllum tilboðum verður svarað fyrir kl. 17:00 á útboðsdegi. Uppgjör sölu fer fram þriðjudaginn 15. apríl 2025.

    Nánari upplýsingar veitir Óttar Guðjónsson, framkvæmdastjóri, ottar@lanasjodur.is / s. 515 4949

    The MIL Network –

  • MIL-OSI: Carronade Capital Files Preliminary Proxy Statement for Cannae Holdings 2025 Annual Meeting

    Source: GlobeNewswire (MIL-OSI)

    Underscores Critical Need to Establish Accountability and Independence on the Board

    Outlines Attributes of Carronade’s Four Independent and Highly Qualified Director Nominees and Why They Are Best-Suited to Create Value

    DARIEN, Conn., April 07, 2025 (GLOBE NEWSWIRE) — Carronade Capital Master, LP (together with its affiliates, “Carronade Capital”, “our” or “we”), which beneficially owns approximately 3.1 million shares of Common Stock of Cannae Holdings, Inc. (NYSE: CNNE) (“Cannae” or the “Company”) and is one of the Company’s top five shareholders, today filed a preliminary proxy statement in connection with its nomination of four independent and highly qualified candidates for election to the Cannae Board of Directors (the “Board”) at the upcoming 2025 Annual Meeting of Stockholders (the “2025 Annual Meeting”).

    Carronade also commented on Cannae’s recent announcements:

    “Cannae’s recent actions following our engagement are too little, too late, and do not go nearly far enough to rectify chronic underperformance, egregious corporate governance, and in our view, unfair benefits and severance payouts granted to Bill Foley with the blessing of his handpicked and intertwined Board. Promising to return a portion of shareholder funds to their rightful owners over an undetermined period of time and transitioning to annual director elections over a multi-year period are woefully insufficient to rectify the serious issues that we believe are plaguing Cannae under the oversight (or lack thereof) of such an entrenched, crony Board. Notably, the Board outrageously bettered Foley’s already offensive exit package amidst settlement discussions, guaranteeing him a cash buyout for half his shares at a premium to market if he resigns for “good reason”, including if any director not supported by Foley is elected to the Board. Cannae shareholders deserve better.

    “We believe Cannae’s recent statements about its future plans are insufficient to unlock the value of the portfolio and eliminate the ongoing, significant discount to NAV. Cannae’s previous attempts to close the discount to NAV have failed because we believe the market lacks confidence that this beholden Board will safeguard shareholder assets instead of further enriching management and themselves. The Board’s continuing conduct is clear evidence that new, truly independent directors such as Carronade’s nominees are needed to address the many deficiencies on display and re-direct Cannae toward meaningful change, enabling value creation for all shareholders.”

    Carronade has nominated four highly qualified candidates – Mona Aboelnaga, Benjamin Duster, Dennis Prieto and Cherie Schaible – each of whom possess the specific expertise and knowhow to pursue achievable value creative initiatives, which we believe will facilitate Cannae’s strategic transformation, turn around Cannae’s chronic underperformance, and drive shareholder value. Importantly, all of Carronade’s nominees are truly independent and will bring a renewed sense of shareholder accountability to Cannae’s board, working not for Mr. Foley, but instead for the true owners of Cannae – the shareholders.

    If elected, we believe Carronade’s nominees will be instrumental in unlocking substantial value for shareholders and restoring shareholder confidence through several value creation initiatives, including:

    • Committing to a certain and timely return of meaningfully more capital to shareholders through spin outs or substantial buybacks and providing a clear investment narrative to shareholders;
    • Refreshing the leadership of the Affiliate Transaction Committee and the Nomination and Governance Committee with the four new nominees, and creating a Value Maximization committee tasked with the formulation and oversight of successful execution of a plan designed to improve shareholder returns; and
    • Implementing a corporate overhead cost reduction program and converting the Trasimene Capital Management termination fee into performance-based, vesting stock compensation.

    Carronade looks forward to engaging with shareholders and expects the 2025 Annual Meeting to occur around mid-June 2025 consistent with prior meetings. Shareholders do not need to take any action at this time.

    About Carronade Capital
    Carronade Capital is a multi-strategy investment firm based in Connecticut with over $2.2 billion in assets under management that focuses on process driven investments in catalyst-rich situations. Carronade Capital was founded in 2019 by industry veteran Dan Gropper and is based in Darien, Connecticut. The Funds managed by Carronade Capital were launched on July 1, 2020, and the firm employs 15 team members. Dan Gropper brings with him nearly three decades of special situations credit experience serving in senior roles at distinguished investment firms, including Elliott Management Corporation, Fortress Investment Group and Aurelius Capital Management, LP.

    Media Contact:
    Paul Caminiti / Jacqueline Zuhse
    Reevemark
    (212) 433-4600
    Carronade@reevemark.com

    Investor Contact:
    Andy Taylor / Win Rollins
    Carronade Capital Management, LP
    (203) 485-0880
    ir@carronade.com

    Pat McHugh
    Okapi Partners LLC
    (212) 297-0720
    info@okapipartners.com

    Disclaimers

    This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in any state to any person. This press release does not recommend the purchase or sale of a security. There is no assurance or guarantee with respect to the prices at which any securities of Cannae Holdings, Inc. (the “Company”) will trade, and such securities may not trade at prices that may be implied herein. In addition, this press release and the discussions and opinions herein are for general information only, and are not intended to provide financial, legal or investment advice. Each shareholder of the Company should independently evaluate the proxy materials and make a decision that aligns with their own financial interests, consulting with their own advisers, as necessary.

    This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts and may include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans”, “will be” and similar expressions. Although Carronade Capital and its affiliates believe that the expectations reflected in forward-looking statements contained herein are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties—many of which are difficult to predict and are generally beyond the control of Carronade or the Company—that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. In addition, the foregoing considerations and any other publicly stated risks and uncertainties should be read in conjunction with the risks and cautionary statements discussed or identified in the Company’s public filings with the U.S. Securities and Exchange Commission, including those listed under “Risk Factors” in the Company’s annual reports on Form 10-K and quarterly reports on Form 10-Q . The forward-looking statements speak only as of the date hereof and, other than as required by applicable law, Carronade does not undertake any obligation to update or revise any forward-looking information or statements. Certain information included in this press release is based on data obtained from sources considered to be reliable. Any analyses provided herein is intended to assist the reader in evaluating the matters described herein and may be based on subjective assessments and assumptions and may use one among alternative methodologies that produce different results. Accordingly, any analyses should not be viewed as factual and should not be relied upon as an accurate prediction of future results. All figures are estimates and, unless required by law, are subject to revision without notice.

    Certain of the funds(s) and/or account(s) (“Accounts”) managed by Carronade Capital Management, LP (“Carronade Capital Management”) currently beneficially own shares of the Company. Carronade Capital Management in the business of trading (i.e., buying and selling) securities and intends to continue trading in the securities of the Company. You should assume the Accounts will from time to time sell all or a portion of its holdings of the Company in open market transactions or otherwise, buy additional shares (in open market or privately negotiated transactions or otherwise), or trade in options, puts, calls, swaps or other derivative instruments relating to such shares. Consequently, Carronade Capital Management’s beneficial ownership of shares of, and/or economic interest in, the Company may vary over time depending on various factors, with or without regard to Carronade Capital Management’s views of the Company’s business, prospects, or valuation (including the market price of the Company’s shares), including, without limitation, other investment opportunities available to Carronade Capital Management, concentration of positions in the portfolios managed by Carronade Capital Management, conditions in the securities markets, and general economic and industry conditions. Without limiting the generality of the foregoing, in the event of a change in the Company’s share price on or following the date hereof, Carronade Capital Management may buy additional shares or sell all or a portion of its Account’s holdings of the Company (including, in each case, by trading in options, puts, calls, swaps, or other derivative instruments relating to the Company’s shares). Carronade Capital Management also reserves the right to change the opinions expressed herein and its intentions with respect to its investment in the Company, and to take any actions with respect to its investment in the Company as it may deem appropriate, and disclaims any obligation to notify the market or any other party of any such changes or actions, except as required by law.

    Certain Information Concerning the Participants

    Carronade Capital Master, LP, together with the other participants named herein (collectively, “Carronade Capital”), has filed a preliminary proxy statement and accompanying GOLD proxy card with the Securities and Exchange Commission (“SEC”) to be used to solicit votes for the election of Carronade Capital’s highly-qualified director nominees at the 2025 annual meeting of stockholders of the Company.

    CARRONADE CAPITAL STRONGLY ADVISES ALL STOCKHOLDERS OF THE COMPANY TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC’S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN THIS PROXY SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD BE DIRECTED TO THE PARTICIPANTS’ PROXY SOLICITOR.

    The participants in the proxy solicitation are anticipated to be Carronade Capital Master, LP (“Carronade”), Carronade Capital GP, LLC (“Carronade GP”), Carronade Capital Management, Carronade Capital Management GP, LLC (“Carronade Management GP”), Dan Gropper, Mona Aboelnaga, Benjamin C. Duster, IV, Dennis A. Prieto and Chérie L. Schaible.

    As of the date hereof, Carronade beneficially owns directly 2,874,116 shares of Common Stock, par value $0.0001 per share, of the Company (the “Common Stock”). Carronade GP, as the general partner of Carronade, may be deemed the beneficial owner of the 2,874,116 shares of Common Stock owned by Carronade. As of the date hereof, 176,809 shares of Common Stock were held in a certain account managed by Carronade Capital Management (the “Managed Account”). Carronade Capital Management, as the investment manager of Carronade, may be deemed the beneficial owner of an aggregate of 3,050,925 shares of Common Stock directly owned by Carronade and held in the Managed Account. Carronade Management GP, as the general partner of Carronade Capital Management, may be deemed the beneficial owner of an aggregate of 3,050,925 shares of Common Stock directly owned by Carronade and held in the Managed Account. As the Managing Member of Carronade Management GP, Mr. Gropper may be deemed the beneficial owner of an aggregate of 3,050,925 shares of Common Stock directly owned by Carronade and held in the Managed Account. As of the date hereof, Ms. Aboelnaga directly beneficially owns 1,400 shares of Common Stock. As of the date hereof, Mr. Duster directly beneficially owns 1,338.329 shares of Common Stock. As of the date hereof, Mr. Prieto directly beneficially owns 820 shares of Common Stock. As of the date hereof, Ms. Schaible directly beneficially owns 1,360 shares of Common Stock.

    The MIL Network –

  • MIL-OSI: LPL Financial Announces Strategic Relationship with First Horizon Bank

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, April 07, 2025 (GLOBE NEWSWIRE) — LPL Financial Holdings Inc. (Nasdaq: LPLA) today announced an agreement with First Horizon Bank, the banking subsidiary of First Horizon Corporation (NYSE: FHN), to expand their wealth management capabilities and solutions by transitioning support of the broker-dealer and investment advisory services of First Horizon Advisors, Inc., to LPL and its Institution Services platform.

    First Horizon Advisors, Inc., is a subsidiary of First Horizon Bank and consists of approximately 110 financial advisors who collectively serve approximately $16 billion* of client assets across the company’s 12-state footprint. The financial advisors with First Horizon Advisors, Inc., will continue to work one-on-one with their clients to implement investment strategies that help them pursue their financial goals.

    “LPL’s industry-leading capabilities and operational support will allow us to expand our offering and concentrate our talent, resources and capital on driving continued growth and outstanding client experiences,” said Martin de Laureal, president at First Horizon Advisors, Inc. “This relationship will further empower our advisors to provide exceptional advice and distinguish themselves in the marketplace.”

    “Through their community-minded commitment to excellence, First Horizon Advisors delivers well-respected and comprehensive financial advice to their clients,” said Christopher Cassidy, SVP, head of Institution Business Development at LPL Financial. “LPL will further enhance the competitive advantage of First Horizon Advisors by delivering seamless experiences and customized support while powering the future of advice through one unified vision.”

    The transition is expected to be completed in the second half of 2025, subject to receipt of regulatory approval and other conditions. 

    About First Horizon
    First Horizon Corporation (NYSE: FHN), with $82.2 billion in assets as of December 31, 2024, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation’s best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com. 

    About LPL Financial
    LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.7 trillion in brokerage and advisory assets on behalf of 6 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.

    Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker dealer, member FINRA/SIPC. First Horizon Bank, First Horizon Corp., First Horizon Advisors, Inc., and LPL Financial are separate entities.

    Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

    We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website. 

    *Estimated as of April 4, 2025

    Forward-Looking Statements 
    Certain of the statements included in this release, such as those regarding the completion of the strategic relationship agreement; the expected transition of assets associated therewith; and the benefits anticipated therefrom, constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words such as “expects,” “believes,” “anticipates,” “plans,” “assumes,” “estimates,” “projects,” “intends,” “should,” “will,” “shall” or variations of such words are generally part of forward-looking statements. Forward-looking statements are made based on current expectations and beliefs concerning future developments and their potential effects upon First Horizon, LPL or both. In particular, no assurance can be provided that the assets reported as serviced by financial advisors affiliated with First Horizon will translate into assets serviced by LPL, that advisors affiliated with First Horizon will transition registration to LPL or that the benefits that are expected to accrue to First Horizon, LPL and First Horizon-affiliated advisors as a result of the strategic relationship agreement will materialize. These forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, including economic, legislative, regulatory, competitive and other factors, and there are certain important factors that could cause actual results or the timing of events to differ, possibly materially, from expectations or estimates expressed or implied in such forward-looking statements. Important factors that could cause or contribute to such differences include: the failure of the parties to satisfy the closing conditions applicable to the strategic relationship agreement, including receiving regulatory approval, in a timely manner or at all; difficulties or delays in transitioning advisors affiliated with First Horizon, or in onboarding First Horizon’s clients and businesses or transitioning their assets from First Horizon’s current third-party custodian, to LPL; the inability of LPL to sustain revenue and earnings growth or to fully realize revenue or expense synergies or the other expected benefits of the transaction, which depend in part on LPL’s success in onboarding assets currently served by First Horizon’s advisors; disruptions to First Horizon’s or LPL’s businesses due to transaction-related uncertainty or other factors making it more difficult to maintain relationships with financial advisors and clients, employees, other business partners or governmental entities; the inability of LPL or First Horizon to implement onboarding plans; the choice by clients of First Horizon-affiliated advisors not to open brokerage and/or advisory accounts at LPL; changes in general economic and financial market conditions, including retail investor sentiment; fluctuations in the value of assets under custody; and the effects of competition in the financial services industry, including competitors’ success in recruiting First Horizon-affiliated advisors. Certain additional important factors that could cause actual results or the timing of events to differ, possibly materially, from expectations or estimates expressed or implied in such forward-looking statements can be found in the “Risk Factors” and “Special Note Regarding Forward-Looking Statements” section included in LPL’s most recent Annual Report on Form 10-K. Except as required by law, LPL does not undertake to update any particular forward-looking statement included in this document as a result of developments occurring after the date of this press release. 

    Contacts

    LPL Media Relations
    media.relations@lplfinancial.com

    LPL Investor Relations
    investor.relations@lplfinancial.com

    Tracking #716697

    The MIL Network –

  • MIL-OSI USA: SUNDAY SHOWS: President Trump’s Bold Vision for Economic Prosperity

    US Senate News:

    Source: The White House
    This morning, officials from the Trump Administration took to the networks to outline President Donald J. Trump’s reciprocal trade plan as he ends the globalist policies of economic destruction that have shipped American jobs and industries overseas at the expense of American workers.
    Here’s what you missed:
    Secretary of the Treasury Scott Bessent on Meet the Press
    On tariffs during President Trump’s first term: “A 20% tariff on China led to a 0.7% price level increase over four years. I think that’s pretty good — if we can take in 20% in tariffs and it’s a 0.7% increase … Households saw real net wages go up, so if wages go up faster than prices — which is not what happened over the past four years.”
    On making goods in America: “We saw during COVID that [our] supply chains are not resilient … President Trump has decided that we cannot be at risk like that for our crucial medicines, for our semiconductors, for shipping.”
    Secretary of Commerce Howard Lutnick on Face the Nation
    On trade as an issue of national security: “We don’t make medicine in this country anymore. We don’t make ships. We don’t have enough steel and aluminum to fight a battle … We got to stop having all the countries of the world ripping us off.”
    On trade imbalances: “In 1980, we were a net investor, meaning we owned more of the rest of the world than they owned of us — and now, they own $18 trillion of us, net … Eventually, we’re not going to own America and we are going to be owned by the rest of the world.”
    National Economic Director Kevin Hassett on This Week
    On so-called free trade: “China entered the WTO in 2000. In the 15 years that followed, real incomes declined about $1,200 cumulatively over that time … We got the cheap goods at the grocery store, but then we had fewer jobs.”
    Secretary of Agriculture Brooke Rollins on State of the Union
    On using tariffs to level the playing field: “This whole concept is about rebuilding an American economy around American goods, around American industry … Mexico won’t take our corn. Australia won’t take our beef … It is time for a change.”
    On the EU’s refusal to take American ag exports: “They are using fake science and unsubstantiated claims to not take our products … We produce the safest, the most secure, the best food in the world.”
    On the agricultural trade deficit: “In the last four years, the cost of inputs for our farmers went up 30%. In the last four years, we had an agricultural export deficit that increased from zero when President Trump left to $49 billion.”
    Attorney General Pam Bondi on Fox News Sunday
    On lawfare: “Just since January 20th, we’ve had over 170 lawsuits filed against us. That should be the constitutional crisis right there — 50 injunctions … trying to control his executive power.”
    Senior Counselor Peter Navarro on Sunday Morning Futures
    On the need for tariffs: “It’s all these things that these foreign countries do that are designed, explicitly, to cheat us, and are sanctioned by the WTO. So, President Trump says, ‘No more’ … We’re headed towards a strong America that makes things again.”

    MIL OSI USA News –

  • MIL-OSI: American Rebel Holdings Issues Corporate Update Highlighting Recent Key Milestones and Strategic Growth Initiatives

    Source: GlobeNewswire (MIL-OSI)

    Forged in Freedom, Fueled by Growth, Focused on the Future

    NASHVILLE, TN, April 07, 2025 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB) (“American Rebel” or the “Company”), the creator of American Rebel Beer (americanrebelbeer.com) and a leading provider of safes, personal security, and patriotic lifestyle apparel, today issued a corporate update summarizing several recent developments that have strengthened the Company’s foundation and accelerated its national growth strategy.

    CEO Andy Ross commented:

    “We’ve accomplished several key goals in the past 10 days alone, and we’re just getting started. From launching our national media marketing campaign to completing an equity-based capital raise, announcing $11.4M in 2024 revenue and engaging new investors, the American Rebel brand is gaining momentum on every front. I believe we are America’s next great success story, and we are committed to doing the right type of financings that fuel our growth over the next several years.

    “American Rebel Light Beer, a premium domestic light lager, is seizing a tremendous opportunity in the $110 billion annual beer market. Our rapid growth has exceeded all initial strategic forecasts, driven by patriotic Americans who love the unbeatable combination of great taste and low calories in our beer. With every sip, American beer drinkers enjoy a brew that not only satisfies their palate but also resonates with their core values – values proudly displayed on every can: America’s Patriotic, God Fearing, Constitution Loving, National Anthem Singing, Stand Your Ground Beer.”

    • 1. Successful Private Placement by H.C. Wainwright & Co.

    American Rebel completed a strategic private placement led by H.C. Wainwright & Co. H.C. Wainwright is a full-service investment bank dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes.

    Read the full release here: https://www.globenewswire.com/news-release/2025/04/04/3056146/0/en/AMERICAN-REBEL-ANNOUNCES-UP-TO-11-MILLION-PRIVATE-PLACEMENT-PRICED-AT-THE-MARKET-UNDER-NASDAQ-RULES.html

    • 2. Strategic Media and Investor Relations Push in South Florida

    The Company engaged in a series of high-profile investor meetings and media appearances on NBC-TV Channel 5/West Palm Beach and 39 WSFL – Home of the Florida Panthers in South Florida, culminating with a meeting with strategic partners and potential investors at the prestigious Mar-a-Lago Club. These types of media engagements help generate valuable investor interest and media exposure.

    Read the full release here: https://www.globenewswire.com/news-release/2025/04/02/3054517/0/en/American-Rebel-CEO-Andy-Ross-to-Appear-on-South-Florida-Television-Morning-Shows-on-NBC-TV-Channel-5-West-Palm-Beach-and-39-WSFL-Home-of-the-Florida-Panthers.html

    • 3. FY2024 Revenue Disclosure – $11.4M

    In a recently filed Form 12b-25, American Rebel disclosed it expects to report $11.4 million in revenue for fiscal year 2024, to be detailed in its forthcoming Form 10-K.

    Read the full filing here: https://www.sec.gov/Archives/edgar/data/1648087/000164117225001980/formnt10-k.htm

    • 4. Release of “The American Rebel Story” Video Featuring CEO Andy Ross

    American Rebel premiered “The American Rebel Story,” a compelling video featuring CEO Andy Ross narrating the Company’s vision, values, and journey to becoming America’s next great success story.

    Read the full release here: https://www.globenewswire.com/news-release/2025/04/03/3055126/0/en/American-Rebel-Holdings-Inc-NASDAQ-AREB-Invites-Patriotic-Investors-Fans-and-Beer-Enthusiasts-to-Celebrate-Freedom-with-a-New-Video-Release-Highlighting-the-American-Rebel-Story.html

    • 5. Expansion of Successful Sponsorship with Tony Stewart Racing

    American Rebel continues to benefit from its existing sponsorship with Tony Stewart Racing (TSR) as the racing connection has opened many doors and helped establish relationships with new distributors and key accounts. The expansion of the TSR sponsorship will continue to provide immeasurable value to American Rebel as it accelerates its growth initiatives throughout 2025.

    Read the full release here: https://www.globenewswire.com/news-release/2025/03/27/3050822/0/en/American-Rebel-Expands-its-Successful-Sponsorship-for-2025-with-Tony-Stewart-Racing-TSR-in-NHRA-Mission-Foods-Drag-Racing-Series.html

    • 6. Launch of National Media Marketing Campaign – TV and Digital

    American Rebel launched a full-scale national media campaign, including a 30-second commercial airing on major television networks and a coordinated digital campaign to strengthen consumer awareness and drive sales.

    Read the full release here: https://www.globenewswire.com/news-release/2025/03/28/3051571/0/en/American-Rebel-Launches-Nationwide-Ad-Campaign-on-March-31-with-30-Second-TV-Spot-Complemented-by-Digital-Media-Across-Leading-Websites-to-Increase-Exposure-of-the-Company-and-its-.html

    About American Rebel Holdings, Inc.

    American Rebel Holdings, Inc. (NASDAQ: AREB) has operated primarily as a designer, manufacturer and marketer of branded safes and personal security and self-defense products and has recently transitioned into the beverage industry through the introduction of American Rebel Light Beer. Known for its premium quality and bold patriotic spirit, American Rebel Beer exemplifies what it means to celebrate freedom in every sip. The Company also designs and produces branded apparel and accessories. To learn more, visit www.americanrebel.com and www.americanrebelbeer.com. For investor information, visit www.americanrebelbeer.com/investor-relations.

    About American Rebel Light Beer

    Produced in partnership with AlcSource, American Rebel Light Beer (americanrebelbeer.com) is a premium domestic light lager celebrated for its exceptional quality and patriotic values. It stands out as America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, Stand Your Ground Beer.

    American Rebel Light is a Premium Domestic Light Lager Beer – All Natural, Crisp, Clean and Bold Taste with a Lighter Feel. With approximately 100 calories, 3.2 carbohydrates, and 4.3% alcoholic content per 12 oz serving, American Rebel Light Beer delivers a lighter option for those who love great beer but prefer a more balanced lifestyle. It’s all natural with no added supplements and importantly does not use corn, rice, or other sweeteners typically found in mass produced beers.

    About Tony Stewart Racing (TSR) Nitro

    As tenacious as Stewart is in the cockpit of a racecar, he’s proven equally adept at providing cars and equipment for racing’s elite. The three-time NASCAR Cup Series champion can also list 31 owners’ titles to his resume, from NASCAR to USAC to the World of Outlaws Sprint Car Series. In 2023 Stewart earned his 31st owner title when Matt Hagan and the TSR Funny Car team earned the championship on November 11. His team, Tony Stewart Racing, fields a powerhouse lineup in the NHRA Mission Foods Drag Racing Series with Tony in Top Fuel and Matt Hagan in Funny Car. After more than four decades of racing around in circles, Stewart has embarked on a straight and narrow path, albeit at more than 300 mph. For more information on TSR Nitro go to tsrnitro.com.

    American Rebel Holdings, Inc.
    info@americanrebel.com

    American Rebel Beverages, LLC
    Todd Porter, President
    tporter@americanrebelbeer.com

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include benefits of marketing outreach efforts, actual placement timing and availability of American Rebel Beer, success and availability of the promotional activities, our ability to effectively execute our business plan, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2023 and our recent Quarterly Report on Form 10-Q for the quarter ended September 30, 2024. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Company Contact:
    info@americanrebel.com

    Investor Relations:
    ir@americanrebel.com

    Media Contact:
    Matt Sheldon
    Matt@PrecisionPR.co

    Attachment

    The MIL Network –

  • MIL-OSI Security: Met officers recover £50k of stolen tools in east London

    Source: United Kingdom London Metropolitan Police

    Around £50,000 worth of stolen tools were recovered during a Metropolitan Police operation at a car boot sale in Rainham, east London.

    In response to concerns from tradespeople about a rise in tool thefts, the Met worked with Essex Police and trading standards officers to carry out a large search of the Willow Farm Car Boot Sale on Sunday, 6 April.

    By using intelligence, and with the help of a dog that can sniff out items marked with forensic water, officers identified and seized around 1,000 suspected stolen tools.

    Four men, aged between 40 and 60, from Hackney and Southend-on-Sea were arrested on suspicion of handling stolen goods.

    A number of suspected stolen bikes, as well as cash, illegal vapes and other counterfeit goods were also seized.

    Inspector Mark Connolly, from the Met’s neighbourhood policing team in east London, said:

    “We’ve heard from hard-working Londoners about the financial and personal impact of tool theft and we’re working hard across the Met to tackle it.

    “As well as working with partners to target prolific offenders in proactive and intelligence-led operations such as this, we’re also carrying out tool marking events to make it harder for criminals to sell on stolen goods.”

    Inspector Daniel Selby, from Essex Police’s Grays Neighbourhood Policing Team, said:

    “Trading stolen or counterfeit goods is illegal and inexcusable, so we are working with our partners to disrupt supply lines and arrest those who are profiting from crime.

    “Hard-working tradespeople rely on their tools to make a living and we appreciate how devastating the implications of a theft can be for victims and their families at a time when many people are struggling financially.

    “Purchasing illegitimate goods only serves to line the pockets of the criminals, creates a market that inevitably leads to more offending, and can land the buyer in serious trouble.”

    Officers will work over the coming weeks to identify the tools and trace their original owners.

    Any tradespeople or those in possession of power tools are advised to mark their property, take photographs, and record serial numbers so that, in the event of theft, officers have more chance of returning property.

    Marking tools with SelectaDNA forensic water also helps officers identify stolen goods. Met officers will be hosting a free tool marking event at the Toolstation in Ramac Way in Charlton between 07:30hrs and 14:00hrs on Tuesday, 8 April.

    We also advise reporting any thefts in a timely manner, providing as much detail as possible. Removing tools from your vehicles overnight will also help deter thieves.

    We urge the public not to buy goods you know or suspect to be stolen or counterfeit, as this feeds organised crime. If the price seems too good to be true, it could be the item is either stolen or fake. Buying goods you know or suspect to be stolen is a criminal offence.

    If you suspect anyone of selling stolen or counterfeit goods, you can report this to us online or anonymously via Crimestoppers on 0800 555 111.

    MIL Security OSI –

  • MIL-OSI: Diamond Equity Research Initiates Coverage on Almonty Industries, Inc. (TSX: AII) (ASX: AII) (FWB: ALI) (OTCQX: ALMTF)

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, April 07, 2025 (GLOBE NEWSWIRE) — Diamond Equity Research, a leading equity research firm with a focus on small capitalization public companies has initiated coverage of Almonty Industries, Inc. (TSX: AII) (ASX: AII) (FWB: ALI) (OTCQX: ALMTF). The in-depth 49-page initiation report includes detailed information on the Almonty Industries’ business model, services, industry overview, financials, valuation, management profile, and risks. 

    The full research report is available below.

    Almonty Industries Inc. Initiation of Coverage

    Highlights from the report include:

    • Sangdong Mine Potentially Set to Become the World’s Largest Non-Chinese Tungsten Source: Almonty’s flagship Sangdong Mine in South Korea is poised to transform the global tungsten landscape, with projected output exceeding 40% of non-China supply and 5% of global supply by 2027. In our view, Sangdong is not just Almonty’s crown jewel, but also a cornerstone asset for rebuilding Western tungsten supply chains, given its expected 90+ year mine life and strong by-product upside potential from molybdenum.
    • High-Grade Molybdenum Asset Adds Material Upside from Late 2026: Located just below Sangdong’s skarn horizons, the AKM Molybdenum Project adds meaningful diversification. The project has a maiden inferred resource of 21.5 Mt @ 0.26% MoS₂ and is fully permitted within the existing Sangdong mining lease. A $19/lb floor-price offtake agreement with SeAH M&S de-risks the development and ensures predictable cash flows. Production is targeted for late 2026/early 2027, with an anticipated 60-year mine life based on historical government data.
    • Strong and Visible Cash Flow Backed by Long-Term Contracts: Almonty has secured a 15-year offtake agreement with a floor price of US$235 per MTU, equating to approximately US$580 million in guaranteed revenue over the contract life. This agreement, with no price cap, provides exceptional cash flow visibility and allows Almonty to benefit fully from market upside. The contract emphasizes the credibility of Sangdong as a reliable source of high-grade tungsten and reflects deep buyer confidence in Almonty’s long-term delivery capabilities and quality of asset.
    • Resilient Tungsten and Molybdenum Outlook Driven by Structural Supply Shortages and Rising Strategic Demand: Tungsten and molybdenum markets are experiencing sustained upward pricing pressure due to structural supply constraints, geopolitical export restrictions, and robust industrial demand. Tungsten prices have rebounded strongly, with APT reaching near-decade highs. Similarly, molybdenum prices surged to historical peaks ($40/lb in early 2023) due to critically low global inventories and supply disruptions. Given limited substitution possibilities, rising applications in defense, aerospace, infrastructure, and clean energy technologies, we believe these market dynamics could support elevated tungsten and molybdenum prices, benefiting producers like Almonty.
    • Critical Material Status, Export Bans, and NATO Mandates Drive Demand Shift: Tungsten has been designated a critical raw material by the U.S., EU, Australia, Canada, and South Korea due to its high economic importance and supply risk. The U.S. Department of Defense will ban Chinese, Russian, North Korean, and Iranian tungsten for military procurement starting in 2027, while the EU has extended anti-dumping tariffs on Chinese tungsten carbide. Almonty’s Portuguese material is already commanding premiums of over 15% as Western buyers prioritize ESG-aligned sources. China’s own export controls on tungsten and molybdenum, effective February 2025, further restrict global access. In our view, these developments create a powerful structural tailwind for Western-aligned producers like Almonty.
    • Proven Operational Track Record and Industry Trust Anchor the Business Model: Almonty has a 128-year history in tungsten mining and previously sold operations for 21x earnings during the 2007 supply squeeze. Its Panasqueira Mine in Portugal has been producing for over a century, while the Los Santos Mine is scheduled to restart in 2026. Management has consistently met all development milestones, raised AUD 18.45 million in 2024, and continues to co-invest alongside shareholders. We view this track record as a major differentiator, supporting the company’s ability to win contracts, secure financing, and execute on scale.
    • Valuation: Almonty Inc. presents a unique investment opportunity, offering exposure to a portfolio of high-grade tungsten and molybdenum assets with clear near-term production visibility. Key upcoming milestones, including the commencement of production at the Sangdong tungsten and molybdenum projects, downstream processing initiatives, and the Panasqueira expansion opportunity, are expected to potentially drive meaningful growth in revenues and profitability. Furthermore, the company operates in a low-risk, transparent jurisdiction and has secured long-term offtake agreements with global partners, providing additional stability and cash flow visibility. We have applied a Net Present Value (NPV) valuation using a Discounted Cash Flow (DCF) approach, incorporating expected production volumes, life-of-mine estimates, throughput capacities, ore grades, recovery rates, and commodity price forecasts. Using an 8% discount rate, we arrive at a valuation of C$4.00 per share, contingent on successful execution by the company.

    About Almonty Industries, Inc.  

    Almonty Industries Inc. is a global leader in tungsten mining, with strategically positioned assets in geopolitically stable regions including South Korea, Portugal, and Spain. The company is set to become the largest tungsten producer outside China upon the commissioning of its flagship Sangdong Mine. 

    About Diamond Equity Research

    Diamond Equity Research is a leading equity research and corporate access firm focused on small capitalization companies. Diamond Equity Research is an approved sell-side provider on major institutional investor platforms.

    For more information, visit https://www.diamondequityresearch.com.

    Disclosures:

    Diamond Equity Research LLC is being compensated by Almonty Industries, Inc. for producing research materials regarding Almonty Industries, Inc. and its securities, which is meant to subsidize the high cost of creating the report and monitoring the security, however the views in the report reflect that of Diamond Equity Research. All payments are received upfront and are billed for research engagement. As of 04/07/25 the issuer had paid us $50,000 for our company sponsored research services, which commenced 03/07/2025 and is billed annually. Diamond Equity Research LLC may be compensated for non-research related services, including presenting at Diamond Equity Research investment conferences, press releases and other additional services. The non-research related service cost is dependent on the company, but usually do not exceed $5,000. The issuer has not paid us for non-research related services as of 04/07/2025. Issuers are not required to engage us for these additional services. Additional fees may have accrued since then. Although Diamond Equity Research company sponsored reports are based on publicly available information and although no investment recommendations are made within our company sponsored research reports, given the small capitalization nature of the companies we cover we have adopted an internal trading procedure around the public companies by whom we are engaged, with investors able to find such policy on our website public disclosures page. This report and press release do not consider individual circumstances and does not take into consideration individual investor preferences. Statements within this report may constitute forward-looking statements, these statements involve many risk factors and general uncertainties around the business, industry, and macroeconomic environment. Investors need to be aware of the high degree of risk in small capitalization equities, including the complete loss of their investment. This report does not explicitly or implicitly affirm that the information contained within this document is accurate and/or comprehensive, and as such should not be relied on in such a capacity. All information contained within this report is subject to change without any formal or other notice provided. Investors can find various risk factors in the initiation report and in the respective financial filings for Almonty Industries, Inc. Please review initiation report attached for full disclosure page.  

    Contact:
    Diamond Equity Research
    research@diamondequityresearch.com

    Attachment

    The MIL Network –

  • MIL-OSI United Kingdom: Illicit cigarettes, tobacco and vapes seized from city store by council’s Trading Standards team

    Source: City of Wolverhampton

    Acting on complaints, the council’s Trading Standards team and officers from Bilston Police targeted a premises in the city where the goods were believed to be on sale.

    Thousands of illegal items were found in the shop itself as well as in a storeroom and a concealed staircase.

    Officers found 13,680 illicit cigarettes, 3.1kg of banned hand rolling tobacco and 1,546 illicit disposable vapes. In addition, 12 banned novelty lighters were discovered along with 16 vials of an unidentified liquid, suspected to be nicotine.

    If genuine, the retail value of the vapes seized is an estimated £15,000, the value of the cigarettes seized is around £9,918 and the value of the hand rolling tobacco would be an estimated £1,890.

    Action is set to be taken against the owner of the premises where the material was seized while further investigations will be carried out to identify their suppliers.

    Once investigations have been completed, the illegal cigarettes and tobacco will be handed over to a recycling scheme to be dealt with in an environmentally friendly way.

    The seizures, which took place during an operation on 19 March, were carried out under 2 national Trading Standards initiatives, Operation CeCe and Operation Joseph.

    Councillor Bhupinder Gakhal, cabinet member for resident services at City of Wolverhampton Council, said: “We are determined to clamp down on the availability of illicit products and are particularly concerned with illegal sales made to our younger residents.

    “This operation forms part of our wider strategy in dealing with this issue and we will continue to carry out routine test purchases alongside targeted action days.

    “I’d like to congratulate all those involved in this successful partnership operation, including our Trading Standards team and Bilston Police.”

    Lord Michael Bichard, Chair, National Trading Standards, said: “The trade in illegal tobacco harms local communities and affects honest businesses operating within the law.

    “Having removed 19 million illegal cigarettes and 5,103kg of hand rolling tobacco in 2023 to 2024, Operation CeCe (a National Trading Standards initiative in partnership with HMRC) has taken £27.2 million pounds worth of illicit tobacco off the market since the operation launched in 2021 and continues to successfully disrupt this illicit trade.”

    Officers from our Trading Standards team have issued some warning signs to look out for when buying cigarettes and tobacco or vapes.

    The telltale signs of illegal tobacco include unusual taste, cheap price, unusual packaging, spelling mistakes or incorrect logos. They may also have health warnings that may not be printed in English, might not display a picture, might not be printed on a white background and may have different sized lettering to usual.

    Residents are advised to look out for the following when buying vapes:

    • The product must have a ‘warning’ diamond of not less than 10mm x 10mm containing an exclamation mark/skull and crossbones and the words Warning/Danger clearly visible on the packaging.
    • There is a requirement for a batch number or other means to identify the specific production of the product, to permit the tracing of the product should a safety issue be raised.
    • 30% of the packaging must display the required warning “this product contains nicotine which is a highly addictive substance” on both the front and back surfaces of the unit pack.  
    • Illicit vapes are often produced in China. Many illicit vapes have packaging clearly meant for the American/Californian market.

    Anyone who thinks they may have been sold illegal goods or suspect someone is selling them, can email trading.standards@wolverhampton.gov.uk    

    MIL OSI United Kingdom –

  • MIL-OSI: Top 10 New Tokens on MEXC Average 4,770% Growth in March

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, April 07, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, has released the latest information on the performance of trading operations on the platform, highlighting new milestones and delivering invaluable insights into overall market trends. The dynamics of the BSC ecosystem and specific actions taken by MEXC have allowed average prices on top tokens to excel by thousands of percent, and user numbers to swell, underscoring the importance of new instruments and sectors on general market traction.

    Key Takeaways:

    • MEXC listed 129 new tokens in March, 42 of them hosted by the BSC ecosystem;
    • Average price of the top 5 trending tokens on BSC overstepped by 3,760%;
    • Top 10 new tokens achieved an average pricing of 4,770% in March, up fourfold from January and February;
    • MEXC introduced the 0% trading fees for SOL, HYPE, AAVE, and AIXBT, boosting user numbers by 17.8% month-over-month, and trading volume by 170%.
    • Among the top 10 new tokens in March, meme tokens made up half of March’s top 10 spots defying the recent downturn in the sector.

    MEXC started March with news of listing 129 new tokens, 42 of which were hosted on the BSC ecosystem. The given number accounts for 32.6% of overall trading, highlighting the importance of the BSC for MEXC and the degree of the exchange’s penetration and integration with the ecosystem. Total spot trading for new tokens accounted for 50.8%, rising by 30.1% month-over-month. Overall trading volume spiked by 56.6%, up by 63.5% compared to February. These dynamics indicate that users are resorting to MEXC as a preferred venue for trading BSC-hosted tokens.

    The BSC ecosystem took a leading role in the surge, with top 5 trending tokens reaching an average price increase of 3,760%. The uptrend was driven by MUBARAK, BUBB, and TUT, with 10,900%, 4,168%, and 2,000%, respectively. At the same time, the top 10 new tokens showcased an average price increase of 4,770%, up from 1,174% for the same token category in January and February. MEME tokens took up half of the leaders’ pedestal, with assets from the Infra, AI, and DePIN sectors taking up the remaining spots.

    MEXC confirmed its position as a leader across multiple sectors of crypto asset trading, further solidifying its commitment to trading excellence by introducing the 0% Trading Fees Campaign. The action encompassed such pairs as SOL/USDT, HYPE/USDT, AAVE/USDT, and AIXBT/USDT. The campaign has already proven its effectiveness, with the number of traders of zero-fee pairs growing by 17.8% month-over-month, contributing to an overall 170.2% increase in trading volume. SOL/USDT trading pair led with an 186% increase in daily average trading volume and a 209% rise in market share (from 9.8% to 30.3%). RAY/USDT followed with a 27.8% share, while HBAR/USDT and HYPE/USDT rose by 115% and 165%, reaching 18.8% and 13.3% market share, respectively.

    The general downturn in the crypto market throughout March of 2025 did not hinder MEXC from continuing to solidify its position as a leader in terms of trading volume growth. The exchange is taking a significant role in the ongoing expansion of the BSC ecosystem, which contributes new tokens to traders. MEXC is committed to remaining a market leader and delivering world-class service to traders at low trading costs with a broad array of innovations and lucrative trading opportunities.

    About MEXC

    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 34 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

    MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

    For media inquiries, please contact MEXC PR Manager Lucia Hu: lucia.hu@mexc.com

    Source

    Disclaimer: This press release is provided by MEXC. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Speculate only with funds that you can afford to lose.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/6ed0e8d8-7261-4bb6-b5cf-240c564d5ba5

    The MIL Network –

  • MIL-OSI Africa: KZN government calls for deeper collaboration with Black business

    Source: South Africa News Agency

    KwaZulu-Natal Premier Thamsanqa Ntuli has called for deeper collaboration between government and Black business.

    Ntuli made the call at the Diamond Jubilee Celebration of the National Federated Chamber of Commerce and Industry (NAFCOC) held at Inkosi Albert Luthuli International Convention Centre on Friday.

    The event reflected on six decades of dedicated work toward the economic empowerment of African businesses and ongoing economic transformation.

    In his address, the Premier hailed the organisation’s historic and ongoing role in empowering Black entrepreneurs and advancing inclusive economic transformation across South Africa.

    “For over six decades, NAFCOC has been the enduring voice of Black business, even during the darkest days of apartheid. Today, we recognise the many men and women who, with NAFCOC’s support, have broken through barriers, and now play influential roles across both public and private sectors,” Ntuli said.

    The high profile event was attended by President Cyril Ramaphosa, His Majesty King Misuzulu kaZwelithini, national and provincial government leaders, business stakeholders, and NAFCOC executives.

    Ntuli described the NAFCOC Diamond Jubilee as “a celebration of resilience, vision and the power of unity”.

    He congratulated the organisation and called for continued joint action in building an inclusive and prosperous KwaZulu-Natal.

    The Premier used the occasion to reflect on NAFCOC’s legacy, while looking forward to a new era of economic partnership and shared growth.

    Ntuli outlined a bold five-year plan for the province, focused on rebuilding the economy; strengthening governance; advancing sustainable development; improving healthcare, education, and infrastructure; promoting community safety; mitigating climate change, and building a capable and ethical State.

    Ntuli invited NAFCOC to be a central partner in driving this agenda.

    “We cannot succeed without business playing its part. Our job as government is to clear bottlenecks and unlock opportunities, particularly in the township and rural economies, which are critical to achieving true economic freedom,” Ntuli said.

    Ntuli also announced a renewed push to attract investment and accelerate industrialisation through the Special Economic Zones in Richards Bay and at the Dube Trade Port.

    He said a revised Provincial Integrated Trade and Investment Strategy will guide this work, alongside stronger air connectivity and expanded tourism and export markets.

    The Premier also commended recent efforts by the South African Police Service, led by Provincial Commissioner Lieutenant General Nhlanhla Mkhwanazi, to clamp down on organised crime.

    “A safe province is essential for a thriving economy,” he said, pledging an improved coordination between law enforcement and business stakeholders.

    The celebration also included a keynote memorial lecture in honour of NAFCOC founding leader Dr Sam Motsuenyane, delivered by African National Congress Treasurer General, Dr Gwen Ramokgopa. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Government launches call for evidence to break down barriers to opportunity at work

    Source: United Kingdom – Executive Government & Departments

    Press release

    Government launches call for evidence to break down barriers to opportunity at work

    A new call for evidence [launched today] will enable business, trade unions and civil society to shape action helping everyone, no matter their background, to thrive under the government’s Plan for Change.

    Responses will support consideration of a range of areas, including steps to make the right to equal pay effective for women, people from ethnic minority groups, and disabled people.

    This call for evidence is one of several exercises which will help shape the measures included in the draft Equality (Race and Disability) Bill which will be published this session. This follows the recently launched mandatory ethnicity and disability pay gap reporting consultation, which closes on 10 June.

    Minister for Equalities, responsible for race and ethnicity policy, Seema Malhotra MP said:

    I am pleased to announce the launch of a call for evidence on equality law, an important step in this government’s Plan for Change.

    Our goal is to understand how we can better remove barriers to opportunity and boost household incomes across the country so people can achieve according to their talents, irrespective of their backgrounds.

    The government wants to hear from anyone with relevant evidence – from expert bodies, employers, disabled people’s organisations and civil society to trade unions, public authorities and those with expertise by experience – on a number of areas of equality policy, including:

    1. the prevalence of pay discrimination on the basis of race and disability
    2. making the right to equal pay effective for ethnic minority and disabled people
    3. measures to ensure that outsourcing of services can no longer be used by employers to avoid paying equal pay
    4. improving the enforcement of equal pay rights by establishing an Equal Pay Regulatory and Enforcement Unit, with the involvement of trade unions
    5. improving pay transparency
    6. strengthening protections against combined discrimination
    7. ensuring the Public Sector Equality Duty (PSED) is met by all parties exercising public functions
    8. creating and maintaining workplaces and working conditions free from sexual harassment for all
    9. commencing the socio-economic duty

    This will make sure policies are shaped by a range of expertise and help open opportunities to all.

    Minister for Social Security and Disability, Stephen Timms MP said:

    I’m proud to support this call for evidence, which will help inform the Equality (Race and Disability) Bill in line with the government’s manifesto commitment to put disabled people’s views and voices at the heart of all we do.

    I encourage people to take part and help shape plans that boost individual opportunity for disabled people, increase household incomes and support businesses in employing the best person for the job.

    The call for evidence will run for 12 weeks and end on 30 June 2025. It will ensure we break down barriers to opportunity and drive up household income for everyone,  making work pay in an economy where everyone can succeed.

    British Sign Language (BSL) version of this press release

    ## Government launches call for evidence to break down barriers to opportunity at work (BSL)

    Notes to editors:

    Please see quotes from key stakeholders below:

    Founder of Small Business Britain and Adviser to government’s Board of Trade, Michelle Ovens CBE, said:

    We welcome the government’s approach to the road ahead for the UK – the focus on breaking down barriers that have historically held people back, especially during a long and economically difficult few years, is extremely important. We know that for example a third of disabled business owners choose entrepreneurship due to the fact that workplaces are not equitable. Choice and opportunity should be accessible to all, and we look forward to collaborating closely on opening up pathways into work.

    Chief People and Inclusion Officer at the Co-op, Claire Costello, said:

    For the Co-op promoting equality is fundamental to how we do business. We believe it’s the right thing to do and a way to promote economic growth. Our Social Mobility campaign has focused on the impact we believe socioeconomic background can have on individual life chances.

    15 years on from the introduction of the Equality Act in 2010, we welcome this call for evidence as an opportunity to consider what more as a society we must all do.  This is an important moment for everyone to contribute and ensure that whoever you are and wherever you’re from doesn’t determine what you can become.

    Chief Executive Officer of the Chartered Management Institute (CMI), Ann Francke OBE, said:

    This is a welcome step in improving conditions for people working across the UK economy, breaking down barriers and creating workplaces where everyone can thrive.

    CMI welcomes the government’s collaborative approach in working alongside employers to get this right. The key will be ensuring that leaders and managers have the skills they need to deliver inclusive workplaces that treat individuals fairly and deliver better outcomes.

    CMI’s report on the subject, Filling in the Gaps, found that those firms that do the work of tackling inequality in their ranks retain their talent and deliver for their shareholders.

    We look forward to working closely with the government to ensure managers and leaders are equipped with the skills they need to navigate these important pieces of legislation.

    Chief Executive at the Chartered Institute of Personnel and Development, Peter Cheese, said:

    Strong equality policies are key to a resilient economy, benefiting both employers and employees in a changing labour market. We welcome the UK government’s call for evidence on its equalities reform programme to shape equality law and help build fair, inclusive workplaces where everyone can thrive. By working together, we can develop evidence-based reforms that can drive performance and enhance equality of outcomes for all.

    Strategic Advisor at Jaguar Landrover, Barbara Bergmeier, said:

    JLR is focused on making JLR an even more rewarding and fulfilling place to work for everyone. We are taking positive steps in the right direction and are committed to open and transparent pay gap reporting but there is more to do. We welcome the government’s willingness to engage with business on this important topic so we can continue to make progress and break down barriers.

    Head of Purpose at KERB Food, Priya Narain, said:

    At KERB, we recognise the critical need to tackle harassment within the hospitality industry, where team members, particularly women and those from underrepresented backgrounds, often face unique vulnerabilities due to the nature of customer-facing roles. We welcome the Office for Equality and Opportunity’’s focus on strengthening protections against third-party harassment and exploring measures to ensure all employees, including interns and volunteers, are safeguarded.

    Through our initiatives, including enhanced training, clear reporting pathways, and our commitment to the Women’s Night Safety Charter, we have seen firsthand the importance of proactive employer-led action. However, to drive meaningful sector-wide change, it is essential that businesses are equipped with clear, practical guidance on their responsibilities and that employees have confidence in the protections available to them.

    We fully support this call for evidence as a necessary step in shaping policy that is both effective and workable for businesses and employees alike. We look forward to contributing our insights and continuing to engage with policymakers to ensure hospitality is a safer and more inclusive industry for all.

    Race Equality Director at Business in the Community, Sandra Kerr CBE, said:

    I am delighted that the Government has launched its consultation into ethnicity and disability pay gap reporting, with the intention to introduce mandatory reporting for all large businesses. Business in the Community has been campaigning for mandatory ethnicity pay gap reporting for many years because we believe that all employees should be entitled to fair and equal pay and opportunities for progression. Having seen the successes of gender pay gap reporting for businesses and employees across the UK, I hope that these successes can be used to shape the implementation of ethnicity and disability pay gap reporting. It is also encouraging to see that the Government is looking to address the barriers faced by those experiencing combined discrimination, based on a combination of protected characteristics. It is critical that government and business work together to make sure these laws work for everyone, so that we can break down these barriers to opportunity once and for all and ensure that no one is left behind.

    Updates to this page

    Published 7 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI: iBio Announces IBIO-600 Non-Human Primate Data Showing Extended Half-Life and Muscle Growth, and Interim In Vivo Results for First-in-Class Activin E Antibody, Advancing Cardiometabolic and Obesity Pipeline

    Source: GlobeNewswire (MIL-OSI)

    Non-human primate pharmacokinetics data suggests IBIO-600, a potentially best-in-class long-acting anti-myostatin antibody, could have a human half-life as long as 130 days

    Additional interim in vivo data for a first-in-class Activin E antibody shows muscle sparing weight loss alone and in combination with a GLP-1 receptor agonist

    iBio remains on track to submit a regulatory submission for IBIO-600 in Q1 2026

    SAN DIEGO, April 07, 2025 (GLOBE NEWSWIRE) — iBio, Inc. (Nasdaq: IBIO), an AI-driven innovator of precision antibody therapies, today announced data from a non-GLP non-human primate (NHP) pharmacokinetics (PK) study suggesting IBIO-600, the company’s novel lead asset and a potentially best-in-class long-acting anti-myostatin antibody designed for subcutaneous administration, could provide a significantly extended half-life in humans and a weight loss treatment option while preserving and promoting muscle growth.

    The results were observed in a recently completed exploratory study in obese and elderly NHPs designed to analyze the potential of IBIO-600 in NHPs in order to closely mimic the human obese patient population by determining the antibody’s half-life in serum and evaluating changes in lean and fat mass. The study consisted of two dose levels, a low dose of 5 mg/kg and a high dose of 50 mg/kg, with a single administration in each case. In addition to monitoring PK in serum, the study analyzed body composition changes over time by employing DEXA scans, measuring lean and fat mass.

    Despite the study not being powered to demonstrate statistical significance, and only having a single administration of the antibody, the results indicate IBIO-600 promoted a dose-dependent increase in lean mass and a reduction in fat mass from baseline values. The effect peaked after 8 weeks, when the NHPs receiving the low-dose had a 3.1% (163g) increase in lean mass and a 5.1% (270g) increase in the NHPs receiving the high-dose.

    Standard PK calculations indicated the half-life of IBIO-600 in NHPs was 40 to 52 days. By using multiple allometric scaling approaches1,2, the half-life in humans of IBIO-600 has an estimated range of 57-130 days. This extended half-life could potentially enable a once every 3 to 6-month dosing schedule and positions IBIO-600 as a best-in-class therapeutic for muscle preservation and high-quality weight loss.

    “The promising data suggest IBIO-600 could possibly exhibit the longest half-life among any other anti-myostatin candidates — potentially leading to best-in-class muscle preservation and growth with a significantly reduced dosing burden for patients with a few doses a year,” said Martin Brenner, Ph.D., DVM, iBio’s CEO and Chief Scientific Officer. “IBIO-600’s extended half-life and muscle-building potential make it a transformative candidate for high-quality weight loss, further strengthening our expanding cardiometabolic and obesity pipeline. It is truly remarkable we’ve been able to advance this potentially best-in-class long-acting anti-myostatin antibody to clinical candidate selection in under a year and remain fully on track for a regulatory submission in Q1 2026. This incredibly rapid progress highlights our commitment to accelerating innovation and redefining obesity treatment with cutting-edge therapeutics.”

    iBio is also pleased to announce preclinical data for a first-in-class Activin E antibody disclosed in January, highlighting its potential as a novel treatment for obesity. The antibody effectively blocks Activin E signaling in human adipocytes and is currently being evaluated in an exploratory study with obese mice, both as a monotherapy with bi-weekly dosing and in combination with semaglutide dosed daily. After only two weeks of dosing, monotherapy resulted in fat-selective weight loss of approximately 4%, with a significant 18% reduction in total body fat compared to placebo. Notably, when combined with semaglutide, the Activin E antibody demonstrated a strong synergistic effect, enhancing total weight loss by an additional 9% beyond GLP-1 therapy alone, leading to an overall weight reduction of 34%. This combination also resulted in a remarkable 72% reduction in body fat over the treatment period, as measured by DEXA scans. These compelling findings underscore the potential of Activin E inhibition as a transformative approach to obesity treatment, supporting further development and clinical advancement.

    1 Genki Nakamura, Kazuhisa Ozeki, Miho Nagayasu, Takeru Nambu, Takayuki Nemoto, Ken-ichi Hosoya, Predicting Method for the Human Plasma Concentration–Time Profile of a Monoclonal Antibody from the Half-life of Non-human Primates, Biological and Pharmaceutical Bulletin, 2020, Volume 43, Issue 5, Pages 823-830, Released on J-STAGE May 01, 2020, Online ISSN 1347-5215, Print ISSN 0918-6158, https://doi.org/10.1248/bpb.b19-01042, https://www.jstage.jst.go.jp/article/bpb/43/5/43_b19-01042/_article/-char/en

    2Haraya K, Tachibana T. Translational Approach for Predicting Human Pharmacokinetics of Engineered Therapeutic Monoclonal Antibodies with Increased FcRn-Binding Mutations. BioDrugs. 2023 Jan;37(1):99-108. doi: 10.1007/s40259-022-00566-2. Epub 2022 Nov 30. PMID: 36449140; PMCID: PMC9709760.

    About iBio, Inc.

    iBio (Nasdaq: IBIO) is a cutting-edge biotech company leveraging AI and advanced computational biology to develop next-generation biopharmaceuticals for cardiometabolic diseases, obesity, cancer and other hard-to-treat diseases. By combining proprietary 3D modeling with innovative drug discovery platforms, iBio is creating a pipeline of breakthrough antibody treatments to address significant unmet medical needs. Our mission is to transform drug discovery, accelerate development timelines, and unlock new possibilities in precision medicine.  For more information, visit www.ibioinc.com or follow us on LinkedIn.

    FORWARD-LOOKING STATEMENTS

    Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding non-human primate pharmacokinetics data suggesting IBIO-600, a potentially best-in-class long-acting anti-myostatin antibody, could have a human half-life as long as 130 days; remaining on track to submit a regulatory submission for IBIO-600 in Q1 2026; IBIO-600 providing a significantly extended half-life in humans and a weight loss treatment option while preserving and promoting muscle growth; the extended half-life potentially enabling a once every 3 to 6-month dosing schedule and positioning IBIO-600 as a best-in-class therapeutic for muscle preservation and high-quality weight loss; IBIO-600 possibly exhibiting the longest half-life among any other anti-myostatin candidates — potentially leading to best-in-class muscle preservation and growth with a significantly reduced dosing burden for patients with a few doses a year; IBIO-600’s extended half-life and muscle-building potential making it a transformative candidate for high-quality weight loss, further strengthening our expanding cardiometabolic and obesity pipeline; and the potential of Activin E inhibition as a transformative approach to obesity treatment, supporting further development and clinical advancement. While iBio believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the ability of IBIO-600 to have a half-life as long as 130 days; the ability of iBio’s innovative pipeline of therapeutics in cardiometabolic disease and obesity to promote healthy weight loss and muscle-building; and iBio’s ability to create a pipeline of breakthrough antibody treatments to address significant unmet medical needs; iBio’s ability to obtain regulatory approvals for commercialization of its product candidates, or to comply with ongoing regulatory requirements; regulatory limitations relating to iBio’s ability to promote or commercialize its product candidates for specific indications; acceptance of iBio’s product candidates in the marketplace and the successful development, marketing or sale of products; and whether iBio will incur unforeseen expenses or liabilities or other market factors; and the other factors discussed in iBio’s filings with the SEC including its Annual Report on Form 10-K for the year ended June 30, 2024 and its subsequent filings with the SEC on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and iBio undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

    Corporate Contact:

    iBio, Inc.
    Investor Relations
    ir@ibioinc.com

    Media Contacts:

    Ignacio Guerrero-Ros, Ph.D., or David Schull
    Russo Partners, LLC
    Ignacio.guerrero-ros@russopartnersllc.com
    David.schull@russopartnersllc.com
    (858) 717-2310 or (646) 942-5604

    The MIL Network –

  • MIL-OSI Asia-Pac: List of Outcomes: Visit of Prime Minister to Sri Lanka

    Source: Government of India

    Posted On: 05 APR 2025 1:45PM by PIB Delhi

    S. No. Agreement/MoU Representative from Sri Lankan side Representative from Indian side

    1.

    MoU between the Government of the Republic of India and the Government of the Democratic Socialist Republic of Sri Lanka for Implementation of HVDC Interconnection for Import/Export of Power

    Prof. K.T.M. Udayanga Hemapala
    Secretary, Ministry of Energy

    Shri Vikram Misri,
    Foreign Secretary

    2.

    MoU between the Ministry of Electronics and Information Technology of the Republic of India and the Ministry of Digital Economy of the Democratic Socialist Republic of Sri Lanka on Cooperation in the Field of Sharing Successful Digital Solutions Implemented at Population Scale for Digital Transformation.

    Mr. Waruna Sri Dhanapala, Acting Secretary, Ministry of Digital Economy

    Shri Vikram Misri,
    Foreign Secretary

    3.

    MoU between the Government of the Republic of India, the Government of the Democratic Socialist Republic of Sri Lanka, and the Government of United Arab Emirates for Cooperation in Development of Trincomalee as an Energy Hub

    Prof. K.T.M. Udayanga Hemapala
    Secretary, Ministry of Energy

    Shri Vikram Misri,
    Foreign Secretary

    4.

    MoU between the Government of the Republic of India and the Government of the Democratic Socialist Republic of Sri Lanka on Defence Cooperation

    Air Vice Marshal Sampath Thuyacontha (Retd.)
    Secretary, Ministry of Defence

    Shri Vikram Misri,
    Foreign Secretary

    5.

    MoU on Multi-sectoral Grant Assistance for Eastern Province

    Mr. K.M.M. Siriwardana Secretary, Ministry of Finance, Planning and Economic Development

    Shri Santosh Jha, High Commissioner of India to Sri Lanka

    6.

    MoU between the Ministry of Health and Family Welfare of the Government of the Republic of India and the Ministry of Health & Mass Media of the Democratic Socialist Republic of Sri Lanka on Cooperation in the Field of Health & Medicine.

    Dr. Anil Jasinghe
    Secretary, Ministry of Health and Mass Media

    Shri Santosh Jha, High Commissioner of India to Sri Lanka

    7.

    MoU on Pharmacopoeial Cooperation between the Indian Pharmacopoeia Commission, Ministry of Health and Family Welfare, Government of the Republic of India and The National Medicines Regulatory Authority, Government of Democratic Socialist Republic of Sri Lanka.

    Dr. Anil Jasinghe
    Secretary, Ministry of Health and Mass Media

    Shri Santosh Jha, High Commissioner of India to Sri Lanka
    S. No. Projects

    1.

    Inauguration of upgraded railway track of Maho-Omanthai railway line.

    2.

    Launch of Construction of Signalling System for Maho-Anuradhapura railway line.

    3.

    Ground Breaking ceremony of Sampur Solar power project (virtual).

    4.

    Inauguration of Temperature Controlled Agricultural Warehouse in Dambulla (virtual).

    5.

    Supply of Solar Rooftop Systems for 5000 Religious Institutions across Sri Lanka (virtual).

    Announcements:

    During the visit, Prime Minister Modi announced comprehensive capacity-building programme in India covering 700 Sri Lankans annually; India’s grant assistance for the development of Thirukoneswaram temple in Trincomalee, Sita Eliya temple in Nuwara Eliya, and Sacred City Complex project in Anuradhapura; the Exposition of Lord Buddha relics in Sri Lanka on International Vesak Day 2025; as well as the conclusion of Bilateral Amendatory Agreements on Debt Restructuring.

    *****

    MJPS/SR/SKS

    (Release ID: 2119186) Visitor Counter : 17

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman to embark on an official visit to United Kingdom and Austria today

    Source: Government of India

    Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman to embark on an official visit to United Kingdom and Austria today

    Union Finance Minister will participate in 13th Ministerial round of India-UK Economic & Financial Dialogue (13th EFD), besides bilateral meetings, engagement with think tanks, investors, business leaders in both United Kingdom and Austria

    Posted On: 07 APR 2025 1:03PM by PIB Delhi

    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman will embark on an official visit to the United Kingdom and Austria from 8th to 13th April 2025, today. Smt. Sitharaman is also scheduled to attend Ministerial Level Bilateral meetings in both countries.

    During the course of the visit, the Union Finance Minister will participate in the 13th Ministerial round of India – UK Economic & Financial Dialogue and engagements with think tanks, investors, business leaders in United Kingdom and Austria.

    The 13th round of the India-UK Economic and Financial Dialogue (13th EFD) is scheduled to be held in London, United Kingdom on 9th of April 2025. The 13th EFD dialogue will be co-chaired by the Union Minister for Finance and Corporate Affairs and the UK Chancellor of the Exchequer.

    The 13th EFD is a significant bilateral platform between the two countries that offers opportunities for candid engagement at Minister level, officer-level, working groups and between the respective regulatory bodies in various aspects of financial collaboration, including investment matters, financial services, financial regulations, UPI interlinkages, taxation matters and illicit financial flows.

    The key priorities of the 13th EFD dialogue for Indian side include cooperation in IFSC GIFT City, investment, insurance and pension sectors, FinTech and Digital economy, and mobilising affordable and sustainable climate finance.

    The Union Finance Minister and the Rt. Hon. Chancellor of the Exchequer are also set to announce and launch various reports and new initiatives for further collaborations.

    On the sidelines of India-UK 13th EFD, Smt. Sitharaman will engage in bilateral meetings with key dignitaries, participate in investor roundtables and other meetings with heads of key financial institutions and companies.

    During the United Kingdom leg of the official visit, the Union Finance Minister will deliver the keynote address at the India-UK Investor Roundtable in presence of Chief Executive Officers of international organisations, including key management personnel from across the UK financial ecosystem covering pension funds, insurance companies, banks, and financial services institutions among others.

    Union Finance Minister Smt. Nirmala Sitharaman along with UK Secretary of State for Business and Trade Rt. Hon. Jonathan Reynolds will co-host the Roundtable in partnership with City of London, with top CEOs and senior management of prominent pension funds and asset managers in UK as participants.

    During the Austrian leg of the official visit, the Union Finance Minister will hold bilateral meetings with senior Austrian government leaders, including with Mr Markus Marterbauer, Finance Minister, Austria; and H.E. Mr. Christian Stocker, the Federal Chancellor, Austria.

    Smt. Sitharaman and Mr. Wolfgang Hattmannsdorfer, Austrian Minister for Economy, Energy and Tourism, will co-chair a session with key Austrian CEOs to apprise them of existing and upcoming opportunities in India for deeper investment collaboration between the two countries.

    ****

    NB/KMN

    (Release ID: 2119693) Visitor Counter : 172

    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: Answer to a written question – Trade and defence relations between the European Union and the United Kingdom – E-000152/2025(ASW)

    Source: European Parliament

    As indicated by the Honourable Member, trade relations between the EU and the United Kingdom (UK) pose different challenges following the latter’s withdrawal from the EU.

    The trade relations between the EU and the UK are ruled by the provisions of the trade part of the EU-UK Trade and Cooperation Agreement[1].

    The Commission continuously monitors the correct application of the provisions of the EU-UK Trade and Cooperation Agreement to ensure that the UK complies with its obligations under it, and regularly engages with the UK Government in the context of the institutional framework created by the EU-UK Trade and Cooperation Agreement to discuss any issue that may arise.

    As stated in the EU’s Strategic Compass[2], cooperating with like-minded partners around the world, on a reciprocal basis, is essential for enhancing the EU’s resilience.

    The President of the Commission, in her political guidelines[3], committed to strengthening cooperation with the UK on security issues. This matter will be discussed at an EU-UK summit, scheduled to take place on 19 May 2025.

    The Trade and Cooperation Agreement, in its Part Six already provides for an efficient dispute settlement mechanism concerning the interpretation and application of the provisions of the EU-UK Trade and Cooperation Agreement.

    In relation to cooperation in defence, each additional legally binding instrument would need to also address the issue of possible dispute resolution.

    • [1] http://data.europa.eu/eli/agree_internation/2021/689(1)/oj
    • [2] https://www.eeas.europa.eu/eeas/strategic-compass-security-and-defence-1_en
    • [3] https://commission.europa.eu/document/download/e6cd4328-673c-4e7a-8683-f63ffb2cf648_en
    Last updated: 7 April 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Strategic importance of aviation and inclusion of sustainable aviation fuels in the Clean Industrial Deal – E-000740/2025(ASW)

    Source: European Parliament

    As highlighted in the recently published report of the Commission on the ReFuelEU Aviation SAF flexibility mechanism[1], the regulatory certainty provided by Regulation (EU) 2023/2405[2] (ReFuelEU Aviation) coupled with the incentives and financial support provided under Directive 2003/87/EC[3] (EU Emissions Trading System) have led the aviation fuel industry to ramp-up the production capacity of sustainable aviation fuels (SAF) in the EU, at least for aviation biofuels.

    The Commission is aware that aviation fuel producers have not yet launched the required investments for the upscaling of synthetic aviation fuel production plants which are crucial to achieve the decarbonisation goals of the aviation sector.

    As announced under the Clean Industrial Deal[4], the Commission will come forward with a Sustainable Transport Investment Plan (STIP) later in 2025, outlining a strategic approach to scale-up and priorities investments in transport decarbonisation solutions, including SAF.

    Moreover, the launch of the Hydrogen Mechanism under the European Hydrogen Bank in the second quarter of 2025 will mobilise and connect offtakers and suppliers, linking participants with financing and de-risking instruments to facilitate aggregation of offtakers’ demand for hydrogen and hydrogen-derived fuels in hard-to-decarbonise industrial sectors and transport, e.g. in the maritime and aviation sector.

    In parallel, the Commission will continue to monitor developments in the sustainable aviation fuel sector and particularly the development of synthetic aviation fuels production projects across the EU.

    • [1] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM%3A2025%3A59%3AFIN&qid=1740729099091
    • [2] https://eur-lex.europa.eu/eli/reg/2023/2405/oj/eng
    • [3] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02003L0087-20240301
    • [4] https://commission.europa.eu/topics/eu-competitiveness/clean-industrial-deal_en
    Last updated: 7 April 2025

    MIL OSI Europe News –

  • MIL-OSI: Beneficient Enters into $9.6 Million GP Primary Capital Transaction

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, April 07, 2025 (GLOBE NEWSWIRE) — Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a technology-enabled platform providing exit opportunities and primary capital solutions and related trust and custody services to holders of alternative assets through its proprietary online platform AltAccess, today announced it has closed on the financing of a $9.6 million primary capital commitment for Pulse Pioneer Fund, LP (“Fund”), a fund managed by Pulse Pioneer GP, LLC, an asset manager that manages venture capital funds that invest in scalable climate companies within its target interdependent investment verticals. The transaction represents Ben’s first GP Primary transaction of the fiscal year. In exchange for an interest in the Fund, the Fund received approximately $9.6 million in stated value of shares of the Company’s Resettable Convertible Preferred Stock (the “Preferred Stock”), which is convertible at the election of the holder into shares of the Company’s Class A common stock, subject to the terms and conditions of the transaction documents. As a result of the transaction, the collateral for Company’s ExAlt loan portfolio is expected to increase by approximately $9.6 million of interests in alternative assets.

    “Successfully completing another GP primary capital transaction reinforces our ability to execute on our core liquidity and primary capital strategy by delivering innovative financing solutions for alternative asset holders and managers,” said Beneficient management. “We believe this financing reflects our ability to drive shareholder value while supporting impactful, vertically integrated investment strategies that enhance the value of the collateral backing our ExAlt loan portfolio. We’re excited to build on this momentum as we enter the new fiscal year and we continue to pursue additional opportunities that align with our strategic vision and growth objectives.”

    Upon closing of the previously announced Public Stockholder Enhancement Transactions (the “Transactions”), the Company believes this transaction will result in the addition of approximately $1.28 million (and an aggregate of approximately $10.46 million) of tangible book value attributable to the Company’s stockholders.

    Beneficient’s GP Primary Commitment Program is focused on providing primary capital solutions and financing anchor commitments to general partners during their fundraising efforts while immediately deploying capital into our equity. Through the program, Beneficient seeks to help satisfy the up to $330 billion of potential demand for primary commitments to meet fundraising needs.

    Reconciliation of Non-GAAP Financial Measures            
         
    The following tables reconciles these non-GAAP financial measures to the most comparable GAAP financial measures as of December 31, 2024, on an actual basis and pro forma assuming the Transactions occurred on December 31, 2024.    
    (dollars in thousands)   Actual   Pro forma –
    Transactions     (1)    		   Pro forma –
    Transactions
    and GP
    Primary     (3)
    Tangible Book Value            
    Total equity (deficit)     14,260     14,260     23,680  
    Less: Goodwill and intangible assets     (13,014 )   (13,014 )   (13,014 )
    Plus: Total temporary equity     90,526     90,526     90,526  
    Tangible book value     91, 772     91,772     101,372  
                 
        Actual   Pro forma –
    Transactions     (1)    		   Pro forma –
    Transactions
    and GP
    Primary     (3)
    Tangible book value attributable to Ben public company stockholders            
    Tangible book value     91,772     91,772     101,371  
    Less: Tangible book value attributable to Beneficient Holdings noncontrolling interest holders     (91,772 )   (82,595 )   (90,915 )
    Tangible book value attributable to Ben’s public company stockholders     –     9,177(2)   10,457(4)
                 
    Market Capitalization of Ben’s Class A and Class B common stock as of April 4, 2025 (5)   $ 2,728          
    (1)   Assumes the Transactions closed on December 31, 2024 including that the Beneficient Holdings limited partnership agreement was amended to provide that Ben, as the indirect holder of the Class A Units and certain Designated Class S Ordinary Units of Beneficient Holdings, would receive in the event of a liquidation of Beneficient Holdings 10% of the first $100 million of distributions of Beneficient Holdings following the satisfaction of the debts and liabilities of Beneficient Holdings on a consolidated basis.
    (2)   Pro forma for the Transactions, represents 10% of the first $100 million of distributions of Beneficient Holdings in the event of the liquidation of Beneficient Holdings following the satisfaction of the debts and liabilities Beneficient Holdings on a consolidated basis.
    (3)   Assumes the Transactions closed on December 31, 2024 including that the Beneficient Holdings limited partnership agreement was amended to provide that Ben, as the indirect holder of the Class A Units and certain Designated Class S Ordinary Units of Beneficient Holdings, would receive in the event of a liquidation of Beneficient Holdings (i) 10% of the first $100 million of distributions of Beneficient Holdings following the satisfaction of the debts and liabilities of Beneficient Holdings on a consolidated basis and (ii) 33.3333% of the net asset value of the added alternative assets of up to $5 billion in connection with ExAlt Plan liquidity and primary capital transactions entered after December 22, 2024.
    (4)   Pro forma for the Transactions, represents (i) 10% of the first $100 million of distributions of Beneficient Holdings in the event of the liquidation of Beneficient Holdings following the satisfaction of the debts and liabilities Beneficient Holdings on a consolidated basis and (ii) 33.3333% of the net asset value of the added alternative assets of up to $5 billion in connection with ExAlt Plan liquidity and primary capital transactions entered after December 22, 2024.
    (5)   Based upon the closing price of the Class A common stock as reported by Nasdaq as of market close on April 4, 2025.
         

    About Beneficient 
    Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to democratize the global alternative asset investment market by providing traditionally underserved investors − mid-to-high net worth individuals, small-to-midsized institutions and General Partners seeking exit options, anchor commitments and valued-added services for their funds− with solutions that could help them unlock the value in their alternative assets. Ben’s AltQuote® tool provides customers with a range of potential exit options within minutes, while customers can log on to the AltAccess® portal to explore opportunities and receive proposals in a secure online environment.
    Its subsidiary, Beneficient Fiduciary Financial, L.L.C., received its charter under the State of Kansas’ Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is subject to regulatory oversight by the Office of the State Bank Commissioner. 

    For more information, visit www.trustben.com or follow us on LinkedIn. 

    Contacts
    Matt Kreps: 214-597-8200, mkreps@darrowir.com
    Michael Wetherington: 214-284-1199, mwetherington@darrowir.com
    Investor Relations: investors@beneficient.com

    Important Information and Where You Can Find It

    This press release may be deemed to be solicitation material in respect of a vote of stockholders to approve an amendment to approve the issuance of the Company’s Class A common stock upon conversion of the Series B-6 Preferred Stock pursuant to the transaction. In connection with the requisite stockholder approval, Ben will file with the Securities and Exchange Commission (the “SEC”) a preliminary proxy statement and a definitive proxy statement, which will be sent to the stockholders of Ben, seeking such approvals related to the transaction.

    INVESTORS AND SECURITY HOLDERS OF BEN AND THEIR RESPECTIVE AFFILIATES ARE URGED TO READ, WHEN AVAILABLE, THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT BEN AND THE TRANSACTION. Investors and security holders will be able to obtain a free copy of the proxy statement, as well as other relevant documents filed with the SEC containing information about Ben, without charge, at the SEC’s website (http://www.sec.gov). Copies of documents filed with the SEC by Ben can also be obtained, without charge, by directing a request to Investor Relations, Beneficient, 325 North St. Paul Street, Suite 4850, Dallas, Texas 75201, or email investors@beneficient.com.

    Participants in the Solicitation of Proxies in Connection with Transaction

    Ben and certain of its directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the requisite stockholder approvals under the rules of the SEC. Information regarding Ben’s directors and executive officers is available in its annual report on Form 10-K for the fiscal year ended March 31, 2024, which was filed with the SEC on July 9, 2024 and certain current reports on Form 8-K filed by Ben. Other information regarding the participants in the solicitation of proxies with respect to the proposed transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC. Free copies of these documents, when available, may be obtained as described in the preceding paragraph.

    Not an Offer of Securities

    The information in this communication is for informational purposes only and shall not constitute, or form a part of, an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities. The securities that are the subject of the transaction have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

    Forward Looking Statements

    Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the Transactions, including receipt of required approvals and satisfaction of other customary closing conditions and excepted timing of closing of the Transactions, and expectations of future plans, strategies, and benefits of the Transactions. The words ”anticipate,” “believe,” ”continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” ”plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected.

    Important factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, among others: the ultimate outcome of the transaction, including obtaining the requisite vote of securityholders; the Company’s ability to meet expectations regarding the timing and completion of the transaction; and the risks, uncertainties, and factors set forth under “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and its subsequently filed Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date they are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events, or circumstances or other changes affecting such statements except to the extent required by applicable law.

    Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.  

    The MIL Network –

  • MIL-OSI Economics: BSTDB and Express Leasing Strengthen Partnership to Support Small Business, Green Finance and Women Entrepreneurs in Moldova

    Source: Black Sea Trade and Development Bank

    Press Release | 07-Apr-2025

    Empowering Businesses with Sustainable Finance and Equal Growth Opportunities

    The Black Sea Trade and Development Bank (BSTDB) has provided a USD 3 million combined Micro and SME, Green, and Gender Equality Credit Line to the Moldovan microfinance institution Express Leasing and Microcredit SRL.

    The financing will support micro and small businesses across Moldova, including projects with sustainability impact. This initiative reflects BSTDB’s commitment to SMEs and climate-conscious financing, helping to align its operations with the climate priorities of its shareholders and contributing to the broader decarbonization efforts in the region.

    A portion of the funds will be allocated to supporting women entrepreneurs, promoting inclusive economic growth and fostering greater opportunities for women-led businesses in the country.

    “The financing to Express Leasing consists of  three  key components, all aimed at  supporting sustainable market development, a  core objective of BSTDB’s  strategy. By extending funds for green investments and empowering women entrepreneurs, we are not only strengthening Moldova’s SME sector but also enhancing our contribution to a low-carbon and more inclusive regional economy,” said Dr. Serhat Köksal, BSTDB President.

    We are honored to strengthen our collaboration with BSTDB through this credit line that will enable us to reach more entrepreneurs, particularly women and those committed to sustainability,” said Sergiu Rosca, Executive Director of Express Leasing. “This partnership empowers us to continue supporting Moldova’s small businesses—the backbone of our economy—while also driving green innovation and inclusivity in finance.

     

    OCN ICS “Express Leasing & Microcredit” SRL is a limited liability leading non-bank financial institution incorporated in the Republic of Moldova. Owned 100% by Broadhurst Investment Limited (registered in Cyprus), the company’s main activity is loan and lease financing focusing on SMEs and micro-financing sector.

    The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.

     

    Contact: Haroula Christodoulou

    : @BSTDB

    MIL OSI Economics –

  • MIL-OSI Australia: Climate Choices Business Award winners announced

    Source: Northern Territory Police and Fire Services

    Businesses from across the Canberra region have been recognised for their sustainability achievements.

    Today, businesses from across the Canberra region were recognised for their sustainability achievements at the annual Climate Choices Business Awards.

    The awards recognise some of Canberra’s most innovative businesses as the city works towards net-zero emissions.

    The awards received high-quality nominations from a diverse range of organisations.

    This demonstrates a strong commitment to climate action and emissions reduction from the Canberra business community.

    Sustainable choices can sometimes come with an upfront cost, such as those associated with appliance upgrades or installation of EV chargers. The success of businesses such as the award recipients shows that such investments will pay off – for businesses and the community.

    Many of the award-winning businesses benefitted from financial assistance and expert advice from the ACT Government’s Sustainable Business Program.

    Through the program, businesses can receive support to improve sustainability and demonstrate climate leadership in their operations.

    2024 Climate Choices Business Award winners

    Category Business/event
    Zero Emissions Early Movers Goodwin Aged Care Services
    Energy Star Canberra Services Club
    Waste Minimisation Les Bistronomes
    Sustainable Event National Folk Festival
    Sustainable Small Business of the Year Embassy of Belgium
    Corporate Climate Leader Waves Carwash
    Innovation Excellence GREN
    Minister’s Award for Leadership Steven Blakemore
    The Canberra Tradesmen’s Union Club (Dickson Tradies)

    Find out more about the Sustainable Business Program.

    For more information visit the Everyday Climate Choices website.

    Get ACT news and events delivered straight to your inbox, sign up to our email newsletter:


    MIL OSI News –

  • MIL-OSI United Kingdom: CMA to boost consumer and business confidence as new consumer protection regime comes into force

    Source: United Kingdom – Executive Government & Departments

    Press release

    CMA to boost consumer and business confidence as new consumer protection regime comes into force

    CMA now able to act more swiftly and directly to protect UK consumers and foster a level playing field for businesses to invest and grow.

    • New regime will help the CMA tackle poor corporate practices, protecting consumers and boosting trust and confidence to support economic growth
    • CMA will support businesses to do the right thing by their customers, by helping them understand how to comply
    • CMA commits to focusing early action on more egregious practices, including aggressive sales tactics, hidden fees and unfair contract terms

    Landmark new consumer protection provisions are now in force under the Digital Markets, Competition and Consumers Act 2024 (DMCCA), giving the Competition and Markets Authority (CMA) the ability to deliver more effective consumer protection.

    The CMA will now be able to decide whether consumer protection laws have been infringed (rather than litigating through the courts) and to tackle any breaches directly and proportionately, including through consumer redress and fines. 

    The new regime will help the CMA to safeguard consumer interests while also enhancing trust – which supports spending and the adoption of new products and services across the economy. The CMA also emphasised the importance of fostering a level playing field for fair-dealing businesses – so they can grow and invest, confident that competitors cannot gain an advantage by breaking the law. Both of these ambitions reflect the contribution consumer protection can make to economic growth, as laid out in the government’s strategic steer to the CMA.  

    The CMA is clear that it intends to take a proportionate approach, supporting businesses to do the right thing by their customers while minimising compliance burdens – because when businesses get it right, customers benefit. To ensure businesses – large and small – have clarity and predictability around implementation of the new regime, the CMA has today published an ‘Approach to Consumer Protection’.

    The document sets out:

    • likely priority areas of enforcement and compliance activity
    • how the CMA will reflect the government’s strategic steer and its own planned improvements to key aspects of the way it works (pace, predictability, proportionality and process – the ‘4Ps’ framework)
    • what stakeholders can expect from the CMA

    The CMA and the UK government also published a joint statement today, reinforcing the CMA’s intended approach and the role of robust consumer protection in helping to grow the economy by promoting trust and confidence, while deterring poor corporate practices.

    Sarah Cardell, Chief Executive of the CMA, said:

    Consumers deserve to know that the CMA has their back; and fair-dealing businesses looking to grow and invest deserve to know that their competitors are playing by the same rules. We will use the new regime to strengthen the trust and confidence of consumers and businesses – supporting economic growth and incentivising good corporate practice.

    Most businesses work hard to serve their customers and do the right thing. We recognise the importance, particularly for small businesses, of any new rules being clear and proportionate to comply with – and that this is a period of change when they may need help to understand their legal obligations. We’re working hard to support them with that and keep burdens to a minimum – through accessible guidance and communications, as well as direct engagement – alongside listening and responding to feedback.

    Justin Madders, Minister for Employment Rights, Competition and Markets, said:  

    These measures mean consumers can confidently make purchases knowing they are protected against fake reviews and dripped pricing.  

    These changes will give consumers more power and control over their hard-earned cash, as well as help to establish a level playing field by deterring bad actors that undercut compliant businesses, helping to deliver economic stability as part of our Plan for Change.

    The DMCCA includes an explicit ban on the posting and commissioning of fake reviews – which has been added to the banned practices list [link]. The CMA has previously taken action in this area and will be focused on ensuring compliance with the new provisions.

    The DMCCA also updates the law on pricing information businesses must show to customers. This includes a ban on ‘drip pricing’ – where shoppers are shown an initial price for a product, but more fees are added (‘dripped’) as they proceed with their purchase.

    The CMA has now issued guidance to ensure businesses understand how to comply with those aspects of the law which are already well established and largely unchanged. Before enforcing new provisions, and following clear feedback, the CMA has said it will consult further on newer aspects which have created some uncertainty – such as fixed-term periodic contracts – with the aim of publishing final guidance in the autumn.

    Action: The first 12 months

    The CMA will target behaviour that is particularly harmful to consumers and represents clear infringements of the law, such as:

    • aggressive sales practices that prey on consumers in vulnerable positions
    • fees that are hidden until late in the buying process
    • information being given to consumers that is objectively false
    • unfair and unbalanced contract terms
    • behaviour where the CMA has already put down a clear marker through its previous enforcement work, such as on drip pricing and fake reviews

    The 4Ps: Proportionality, predictability, process and pace

    In November 2024, the CMA committed to meaningful changes across four key aspects of how it works – proportionality, predictability, process and pace. The changes are designed to ensure that the CMA contributes to a regulatory environment which supports growth, whilst continuing to fulfil its statutory mandate to promote competition and protect consumers.

    The CMA’s Approach document sets out how this framework will be embedded into the CMA’s consumer protection work. This includes commitments to streamline cases, minimise uncertainty, engage regularly with business, resolve cases as early as possible and ensure fines are proportionate (reflecting the seriousness of the behaviour).

    Next steps

    The CMA has outlined its immediate next steps. They include:

    • opening its first enforcement cases under the new regime, focusing on more egregious breaches of the law
    • working with stakeholders to understand what areas or issues most require consumer law advice to remove barriers to growth
    • setting out how businesses can bring forward evidence of competitors that are potentially infringing the law
    • exploring new opportunities for businesses to get advice from the CMA where a lack of legal precedent could be impacting innovation

    Businesses who are concerned about a company’s behaviour can report directly to the CMA online: Report a competition or market problem.

    Notes to editors

    1. All media enquiries should be directed to the CMA Press Office by email on press@cma.gov.uk or by phone on 020 3738 6460.
    2. Under the new consumer regime, if a company infringes consumer protection law, the CMA can fine them up to 10% of their global turnover. If a company breaches undertakings it has given the CMA, it could face fines of up to 5% of its global turnover – with additional daily penalties for continued non-compliance. Failure to provide information when requested (without a legitimate reason), concealing evidence, or providing false information can likewise result in a fine, with penalties of up to 1% of a business’ global turnover and additional daily penalties.
    3. Given the CMA’s powers cannot be applied retrospectively, it is likely that any fines for breaches of the law in the first 12 months will be lower than in the years to follow.
    4. Fixed-term periodic contracts are contracts that lock consumers in for a minimum period of time, such as a 6-month gym membership.
    5. To help businesses comply with the changes introduced by the new consumer regime, the CMA issued 3 pieces of guidance last week:
      • Direct consumer enforcement guidance CMA200: which sets out how the CMA will use its direct enforcement powers under the DMCCA.
      • Consumer protection: enforcement guidance CMA58: which provides an updated summary of the CMA’s consumer investigatory and enforcement powers and functions.
      • Unfair commercial practices guidance CMA207: The unfair commercial practices (UCP) provisions in Chapter 1 of Part 4 of the DMCC Act prohibit unfair commercial practices, replacing and updating the Consumer Protection from Unfair Trading Regulations 2008. This draft guidance illustrates how the UCP provisions may apply in practice and is intended to help traders to comply with them.

    Updates to this page

    Published 7 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Himax Technologies, Inc. Schedules First Quarter 2025 Financial Results Conference Call on Thursday, May 8, 2025, at 8:00 AM EDT

    Source: GlobeNewswire (MIL-OSI)

    TAINAN, Taiwan, April 07, 2025 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today announced that it will hold a conference call with investors and analysts on Thursday, May 8, 2025, at 8:00 a.m. US Eastern Daylight Time and 8:00 p.m. Taiwan Time to discuss the Company’s first quarter 2025 financial results.

    HIMAX TECHNOLOGIES, INC. FIRST QUARTER 2025 EARNINGS CONFERENCE CALL

    DATE:     Thursday, May 8, 2025
    TIME:     U.S.         8:00 a.m. EDT
          Taiwan    8:00 p.m.

    Toll Free Dial-in Number (Audio Only):                                              

    Hong Kong 2112-1444
    Taiwan 0080-119-6666
    Australia 1-800-015-763
    Canada 1-877-252-8508
    China (1) 4008-423-888
    China (2) 4006-786-286
    Singapore 800-492-2072
    UK 0800-068-8186
    United States (1) 1-800-811-0860
    United States (2) 1-866-212-5567

    Dial-in Number (Audio Only):  

    Taiwan Domestic Access 02-3396-1191
    International Access +886-2-3396-1191
    Participant PIN Code:   3300508 #

      

    If you choose to attend the call by dialing in via phone, please enter the Participant PIN Code 3300508 # after the call is connected. A replay of the webcast will be available beginning two hours after the call on www.himax.com.tw. This webcast can be accessed by clicking on this link or visiting Himax’s website, where it will remain available until May 8, 2026. 

    About Himax Technologies, Inc.

    Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEyeTM Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,603 patents granted and 389 patents pending approval worldwide as of March 31, 2025.

    http://www.himax.com.tw

    Forward Looking Statements

    Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2024 filed with the SEC, as may be amended.

    Company Contacts:

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

    Karen Tiao, Investor Relations
    Himax Technologies, Inc.
    Tel: +886-2-2370-3999
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

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

    The MIL Network –

  • MIL-OSI: Shell first quarter 2025 update note

    Source: GlobeNewswire (MIL-OSI)

     The following is an update to the first quarter 2025 outlook and gives an overview of our current expectations for the first quarter. Outlooks presented may vary from the actual first quarter 2025 results and are subject to finalisation of those results, which are scheduled to be published on May 2, 2025. Unless otherwise indicated, all outlook statements exclude identified items.

    See appendix for the definition of the non-GAAP measure used and the most comparable GAAP measure.

       Integrated Gas

    $ billions Q4’24 Q1’25 Outlook Comment
    Adjusted EBITDA:
    Production (kboe/d) 905 910 – 950 Impacted by unplanned maintenance, including in Australia.
    LNG liquefaction volumes (MT) 7.1 6.4 – 6.8 Reflects weather impact (cyclones) and unplanned maintenance in Australia.
    Underlying opex 1.0 0.9 – 1.1  
    Adjusted Earnings:
    Pre-tax depreciation 1.4 1.2 – 1.6  
    Taxation charge 0.6 0.7 – 1.0  
    Other Considerations:
    Trading & Optimisation results are expected to be in line with Q4’24, despite a higher (non-cash) impact from expiring hedge contracts compared to the previous quarter.

     Upstream

    $ billions Q4’24 Q1’25 Outlook Comment
    Adjusted EBITDA:
    Production (kboe/d) 1,859 1,790 – 1,890  
    Underlying opex 2.5 2.1 – 2.7  
    Adjusted Earnings:
    Pre-tax depreciation 2.8 1.9 – 2.5  
    Taxation charge 2.6 2.4 – 3.2  
    Other Considerations:
    The share of profit / (loss) of joint ventures and associates in Q1’25 is expected to be ~$0.2 billion. Q1’25 exploration well write-offs are expected to be ~$0.1 billion.
    The Q1’25 outlook reflects the completion of the SPDC divestment in March 2025.

     Marketing

    $ billions Q4’24 Q1’25 Outlook Comment
    Adjusted EBITDA:
    Sales volumes (kb/d) 2,795 2,500 – 2,900  
    Underlying opex 2.5 2.3 – 2.7  
    Adjusted Earnings:
    Pre-tax depreciation 0.6 0.5 – 0.7  
    Taxation charge 0.3 0.2 – 0.5  
    Other Considerations:
    Combined Mobility & Lubricants results expected to be in line with Q4’24. Overall Marketing results are expected to be impacted by a lower contribution from Sectors & Decarbonisation. 

      Chemicals and Products

    $ billions Q4’24 Q1’25 Outlook Comment
    Adjusted EBITDA:
    Indicative refining margin $5.5/bbl $6.2/bbl  
    Indicative chemicals margin $138/tonne $126/tonne The Chemicals sub-segment adjusted earnings are expected to be in line with Q4’24.
    Refinery utilisation 76% 83% – 87%  
    Chemicals utilisation 75% 79% – 83%  
    Underlying opex 2.1 1.8 – 2.2  
    Adjusted Earnings:
    Pre-tax depreciation 0.9 0.8 – 1.0  
    Taxation charge / (credit) (0.2) (0.2) – 0.3  
    Other Considerations:
    Trading & Optimisation in Q1’25 is expected to be significantly higher than Q4’24, in line with Q2’24 and Q3’24 contributions.

     Renewables and Energy Solutions

    $ billions Q4’24 Q1’25 Outlook Comment
    Adjusted Earnings (0.3) (0.3) – 0.3  

    Corporate

    $ billions Q4’24 Q1’25 Outlook Comment
    Adjusted Earnings (0.4) (0.6) – (0.4)  

    Shell Group

    $ billions Q4’24 Q1’25 Outlook Comment
    CFFO:
    Tax paid 2.9 2.5 – 3.3  
    Derivative movements 0.3 (2) – 2  
    Working capital 2.4 (5) – 0 Includes ~$0.5 billion of deferred German Mineral Oil Taxes settlements.
    Other Shell Group Considerations:
    The Q1’25 net debt movement will reflect a ~$1.5 billion increase related to loan facilities provided at completion of the sale of SPDC in Nigeria as well as lease additions associated with the Pavilion acquisition.  

    Guidance

    The ‘Quarterly Databook’ contains guidance on Indicative Refining Margin, Indicative Chemicals Margin and full-year price and margin sensitivities (Link).

    Consensus

    The consensus collection for quarterly Adjusted Earnings, Adjusted EBITDA is per the reporting segments and CFFO at a Shell group level, managed by Vara Research, is expected to be published on April 23, 2025.

    Appendix

    Indicative Margins

    Chemicals & Products Q4’24 Q1’25 Updated Outlook
    Indicative refining margin $5.5/bbl $6.2/bbl
    Indicative chemicals margin $138/tonne $126/tonne

    Volume Data

      Q4’24 Adjusted Q1’25 QPR Outlook Q1’25 Updated Outlook
    Integrated Gas      
    Production (kboe/d) 905 930 – 990 910 – 950
    LNG liquefaction volumes (MT) 7.1 6.6 – 7.2 6.4 – 6.8
    Upstream      
    Production (kboe/d) 1,859 1,750 – 1,950 1,790 – 1,890
    Marketing      
    Sales volumes (kb/d) 2,795 2,500 – 3,000 2,500 – 2,900
    Chemicals & Products      
    Refinery utilisation 76% 80% – 88% 83% – 87%
    Chemicals utilisation 75% 78% – 86% 79% – 83%

    Underlying Opex

    Underlying operating expenses is a measure aimed at facilitating a comparative understanding of performance from period to period by removing the effects of identified items, which, either individually or collectively, can cause volatility, in some cases driven by external factors. For further details see the 4th Quarter 2024 and full year unaudited results (Link).

    $ billions Q4’24 Q4’24 Adjusted Q1’25 Updated Outlook
    Production and manufacturing expenses 5.8    
    Selling, distribution and administrative expenses 3.2    
    Research and development 0.3    
    Operating Expenses (Opex) 9.4 9.4  
    Less: Identified Items   0.3  
    Underlying Opex   9.1  
        of which:      
        Integrated Gas 1.1 1.0 0.9 – 1.1
        Upstream 2.6 2.5 2.1 – 2.7
        Marketing 2.6 2.5 2.3 – 2.7
        Chemicals and Products 2.1 2.1 1.8 – 2.2
        Renewables and Energy Solutions 0.8 0.7  

    Depreciation, depletion and amortisation

    $ billions Q4’24 Q4’24 Adjusted Q1’25 Updated Outlook
    Depreciation, Depletion & Amortisation 7.5 7.5  
    Less: Identified Items   1.7  
    Pre-tax depreciation (as Adjusted)   5.8  
        of which:      
        Integrated Gas 2.0 1.4 1.2 – 1.6
        Upstream 2.9 2.8 1.9 – 2.5
        Marketing 1.0 0.6 0.5 – 0.7
        Chemicals and Products 1.2 0.9 0.8 – 1.0
        Renewables and Energy Solutions 0.5 0.1  

     Tax Charge

    $ billions Q4’24 Q4’24 Adjusted Q1’25 Updated Outlook
    Taxation Charge 3.2 3.2  
    Less: Identified Items and Cost of supplies adjustment   (0.2)  
    Taxation Charge (as Adjusted)   3.4  
        of which:      
        Integrated Gas 0.5 0.6 0.7 – 1.0
        Upstream 2.8 2.6 2.4 – 3.2
        Marketing 0.2 0.3 0.2 – 0.5
        Chemicals and Products (0.4) (0.2) (0.2) – 0.3
        Renewables and Energy Solutions 0.1 0.1  

    Adjusted Earnings

    The “Adjusted Earnings” measure aims to facilitate a comparative understanding of Shell’s financial performance from period to period by removing the effects of oil price changes on inventory carrying amounts and removing the effects of identified items. These items are in some cases driven by external factors and may, either individually or collectively, hinder the comparative understanding of Shell’s financial results from period to period. This measure excludes earnings attributable to non-controlling interest. For further details see the 4th Quarter 2024 and full year unaudited results (Link).

    $ billions Q4’24 Q4’24 Adjusted Q1’25 Updated Outlook
    Income/(loss) attributable to Shell plc shareholders 0.9 0.9  
    Add: Current cost of supplies adjustment attributable to Shell plc shareholders   —  
    Less: Identified items attributable to Shell plc shareholders   (2.8)  
    Adjusted Earnings   3.7  
        of which:      
        Renewables and Energy Solutions (1.2) (0.3) (0.3) – 0.3
        Corporate (0.3) (0.4) (0.6) – (0.4)

    Enquiries

    Media International: +44 (0) 207 934 5550

    Media Americas: +1 832 337 4355

    Cautionary Note

    The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this announcement “Shell”, “Shell Group” and “Group” are sometimes used for convenience to reference Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this announcement refer to entities over which Shell plc either directly or indirectly has control. The terms “joint venture”, “joint operations”, “joint arrangements”, and “associates” may also be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest with one or more parties.  The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

    The numbers presented in this announcement may not sum precisely to the totals provided and percentages may not precisely reflect the absolute figures due to rounding.

    Forward-Looking statements
    This announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”; “ambition”; ‘‘anticipate’’; “aspire”; “aspiration”; ‘‘believe’’; “commit”; “commitment”; ‘‘could’’; “desire”; ‘‘estimate’’; ‘‘expect’’; ‘‘goals’’; ‘‘intend’’; ‘‘may’’; “milestones”; ‘‘objectives’’; ‘‘outlook’’; ‘‘plan’’; ‘‘probably’’; ‘‘project’’; ‘‘risks’’; “schedule”; ‘‘seek’’; ‘‘should’’; ‘‘target’’; “vision”; ‘‘will’’; “would” and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks, including climate change; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including tariffs and regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, regional conflicts, such as the Russia-Ukraine war and the conflict in the Middle East, and a significant cyber security, data privacy or IT incident; (n) the pace of the energy transition; and (o) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc’s Form 20-F for the year ended December 31, 2024 (available at www.shell.com/investors/news-and-filings/sec-filings.html and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this announcement and should be considered by the reader. Each forward-looking statement speaks only as of the date of this announcement, April 7, 2025. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this announcement.

    Shell’s net carbon intensity
    Also, in this announcement we may refer to Shell’s “net carbon intensity” (NCI), which includes Shell’s carbon emissions from the production of our energy products, our suppliers’ carbon emissions in supplying energy for that production and our customers’ carbon emissions associated with their use of the energy products we sell. Shell’s NCI also includes the emissions associated with the production and use of energy products produced by others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell’s “net carbon intensity” or NCI is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.

    Shell’s net-zero emissions target
    Shell’s operating plan and outlook are forecasted for a three-year period and ten-year period, respectively, and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next three and ten years. Accordingly, the outlook reflects our Scope 1, Scope 2 and NCI targets over the next ten years.  However, Shell’s operating plan and outlook cannot reflect our 2050 net-zero emissions target, as this target is outside our planning period. Such future operating plans and outlooks could include changes to our portfolio, efficiency improvements and the use of carbon capture and storage and carbon credits. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans and outlooks to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.

    Forward-Looking Non-GAAP measures

    This announcement may contain certain forward-looking non-GAAP measures such as Adjusted Earnings, Adjusted EBITDA, Cash flow from operating activities excluding working capital movements, Cash capital expenditure, Net debt and Underlying operating expense.

    Adjusted Earnings and Adjusted EBITDA are measures used to evaluate Shell’s performance in the period and over time.
    The “Adjusted Earnings” and Adjusted EBITDA are measures which aim to facilitate a comparative understanding of Shell’s financial performance from period to period by removing the effects of oil price changes on inventory carrying amounts and removing the effects of identified items.
    Adjusted Earnings is defined as income/(loss) attributable to shareholders adjusted for the current cost of supplies and excluding identified items. “Adjusted EBITDA (CCS basis)” is defined as “Income/(loss) for the period” adjusted for current cost of supplies; identified items; tax charge/(credit); depreciation, amortisation and depletion; exploration well write-offs and net interest expense. All items include the non-controlling interest component.
    Cash flow from operating activities excluding working capital movements is a measure used by Shell to analyse its operating cash generation over time excluding the timing effects of changes in inventories and operating receivables and payables from period to period. Working capital movements are defined as the sum of the following items in the Consolidated Statement of Cash Flows: (i) (increase)/decrease in inventories, (ii) (increase)/decrease in current receivables, and (iii) increase/(decrease) in current payables. Cash capital expenditure is the sum of the following lines from the Consolidated Statement of Cash flows: Capital expenditure, Investments in joint ventures and associates and Investments in equity securities. Net debt is defined as the sum of current and non-current debt, less cash and cash equivalents, adjusted for the fair value of derivative financial instruments used to hedge foreign exchange and interest rate risks relating to debt, and associated collateral balances. Underlying operating expenses is a measure of Shell’s cost management performance and aimed at facilitating a comparative understanding of performance from period to period by removing the effects of identified items, which, either individually or collectively, can cause volatility, in some cases driven by external factors. Underlying operating expenses comprises the following items from the Consolidated statement of Income: production and manufacturing expenses; selling, distribution and administrative expenses; and research and development expenses and removes the effects of identified items such as redundancy and restructuring charges or reversals, provisions or reversals and others.

    We are unable to provide a reconciliation of these forward-looking non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc’s consolidated financial statements.
    The contents of websites referred to in this announcement do not form part of this announcement.

    We may have used certain terms, such as resources, in this announcement that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC.  Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.

    LEI number of Shell plc: 21380068P1DRHMJ8KU70

    The MIL Network –

  • MIL-Evening Report: Without women, Australia’s defence force will struggle to recruit enough people

    Source: The Conversation (Au and NZ) – By Sarah Percy, Professor of International Relations, The University of Queensland

    Australia faces crisis-level workforce shortfalls in security and defence. Recruiting more people to the defence force is now an urgent matter of national security.

    So, comments – such as those recently made by a Liberal candidate that we “need to remove females from combat corps” in order to “fix” the military – come at the worst possible time.

    Such beliefs are not just unhelpful. They are dangerous.

    Without women in the national security workforce, and in combat roles, Australia will fail to hit its recruitment targets – at a time of critical international insecurity.

    Why is it so hard to attract women to the defence force?

    We know women are interested and engaged in international affairs.

    So, why don’t they want to join the defence force? In short, we don’t know – but we desperately need to find out.

    Women make up just 20.7% of the Australian Defence Force (ADF).

    Compared with a decade ago, this is an improvement. But the improvement has stalled. The latest figure represents a mere 0.1% increase compared with 2021 figures.

    This is serious.

    Australia’s recruitment problems put at risk our ability to:

    • conduct maritime patrols
    • defend against cyber attacks
    • maintain force readiness.

    Other democratic states worldwide are also struggling to achieve recruitment targets.

    Despite ambitious multi-year government programs aimed a boosting women’s participation in national security, and thousands of pages of reports and reviews on the issue, results have been limited and inconsistent.

    Most attempts to attract more women are focused on workplace improvements.

    Efforts include:

    Of the many government reviews and audits analysing the question, the vast majority focused on such workplace solutions.

    But what if the problem doesn’t lie in the workplace, but rather in wider society?

    What if one factor dissuading women was the archaic idea women just don’t really belong in the military at all?

    Societal attitudes matter

    The Liberal candidate who made the recent comments about women in combat roles has now been replaced. It’s positive to see his party saying such views are “inconsistent with the party’s position.”

    However, the incident suggests doubt remains in some quarters about women’s readiness to serve and take up combat roles.

    There’s a dearth of research on why exactly Australian women appear reluctant to join the ADF. Some of the reasons may be linked to the perception the ADF has a problem with sexual assault or sexism.

    But broader social gender norms matter too. When women hear comments reinforcing the idea national security is primarily a male field, they may simply not see a future for themselves or their daughters in it.

    A recent US study found 60% of teenage girls “have never considered joining the military or pictured themselves in uniform”.

    A passing glance at American politics demonstrates the often precarious position of women already working in national security. There, in recent months, debate has turned to:

    Trump’s America is not Australia, of course. But the recent backlash against women in the US security and defence arenas shows how quickly previous progress can be unwound.

    Could these debates be having a chilling effect on women in Australia who might otherwise consider a career in the military?

    More research is required to answer that question. But it’s possible public denigration of women in these roles deters women from seeking them at all, and may reinforce attitudes of those seeking to keep women out.

    Broadening the talent pool

    Australia’s own response to supporting diversity in the military has been mixed. In 2013, Chief of Army David Morrison made international headlines for a powerful speech about diversity.

    But Morrison faced criticism in the aftermath. Petitions called for his resignation and condemnation after he spoke about gender equality (and not veterans’ welfare) at an awards ceremony. He was criticised for caling for non-gendered language in Defence workplaces.

    Women make vital contributions to critical and creative thinking and decision-making in national security.

    Women in the military can do jobs men cannot do. Think, for example, of women who served in Afghanistan or Iraq, where it would be culturally unacceptable for a male soldier to talk to and work with local women. These were roles female soldiers were able to take up.

    Including women in defence increases the available talent pool, addressing pressing issues of workforce capability in the ADF.

    Australia’s national security requires women to be part of our military, including in combat roles. Without them, recruitment targets will fail. It is not diversity, equality and inclusion: it is reality.

    It is critically important to Australia’s national security we resist the trend from the United States. We must find out what’s stopping women from joining our defence force and address those problems urgently.

    Sarah Percy receives funding from the Australian Army History Unit.

    Elise Stephenson receives funding from the Australian Research Council and the Australian government. She is affiliated with Women in International Security Australia.

    Maria Rost Rublee has received funding from the Australian Department of Defence, the Canadian Department of Defence, and the US Institute of Peace. She is affiliated with Women in International Security-Australia and Women in Nuclear-Australia.

    Rebecca Strating receives funding from the Australian Department of Foreign Affairs and Trade.

    Danielle Chubb 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. Without women, Australia’s defence force will struggle to recruit enough people – https://theconversation.com/without-women-australias-defence-force-will-struggle-to-recruit-enough-people-253844

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: Initiative to help workers improve

    Source: People’s Republic of China – State Council News

    More than 3 million industrial workers in China will receive financial support for continuing education by 2030 under a nationwide initiative aimed at improving workforce skills, according to a guideline released on Thursday.

    The document, jointly issued by the All-China Federation of Trade Unions, the Ministry of Education, the Ministry of Human Resources and Social Security, and the All-China Federation of Industry and Commerce, lays out plans to help industrial workers pursue further education and enhance their qualifications.

    At least 300 programs will be established to help workers boost their academic credentials and vocational skills, the guideline said. More than 3 million eligible workers, including at least 2 million migrant workers, will receive financial aid for continuing and non-degree education.

    The initiative seeks to promote lifelong learning among industrial workers and encourage them to upgrade their capabilities, contributing to the development of a world-class workforce, according to the guideline.

    China has about 402 million workers, with industrial workers accounting for about half the total workforce, according to the All-China Federation of Trade Unions.

    The initiative was officially launched on Wednesday in Beijing. Since 2016, the trade union federation and the Ministry of Education have implemented a program to improve the educational levels of migrant workers, which has produced notable results.

    As of June 2024, trade unions nationwide had invested a total of 1.12 billion yuan ($154 million) to help more than 2.4 million migrant workers upgrade their educational qualifications and skills.

    The newly released guideline expands the initiative to include all industrial workers and outlines five key objectives: innovating talent training models, enhancing learning platforms, expanding educational resources, improving the recognition and transfer of learning outcomes, and encouraging greater enterprise involvement.

    The document calls for collaboration among government bodies, trade unions, businesses, educational institutions and society to strengthen workforce training. Schools and companies are encouraged to jointly establish off-campus teaching or training centers for continuing education.

    “Specialized programs and projects tailored to industrial workers that are closely aligned with industrial, supply and innovation chains should be developed. Existing platforms, such as the national smart vocational education platform and the Workers’ Home app, should be leveraged to build a national smart learning platform for industrial skills,” the guideline said.

    Enterprises are also encouraged to increase investment in worker education and support paid learning opportunities, it said.

    MIL OSI China News –

  • MIL-OSI New Zealand: NZDF’s Obscene military spending plans – Peace Action Wellington

    Source: Peace Action Wellington

    Monday 7 April 2025 – “The just announced plan to spend $12 billion on weapons is a shocking waste. It shows both that there is plenty of money for desperately needed infrastructure, and that this government’s priorities are entirely in the wrong place. It also shows that this government has no plan and no leadership when it comes to the major security issue in our region: climate change,” said Valerie Morse from Peace Action Wellington.

    “The $12 billion that this government plans intends to funnel to global weapons dealers in the next three years is money that would save New Zealanders’ lives if our health system was prioritised. We can’t afford a proper hospital in Dunedin or emergency care in Dargaville, but we can afford this? It shows that the massive cuts to public services are driven by ideology.”

    “This new Defence Capability Plan talks about a ‘dangerous strategic environment’ but takes no responsibility for the help it has given to make it dangerous by supporting a genocide in Palestine. It says that upholding a ‘rules based international order’ is a key priority, yet it is the NZ government itself that is undermining international law by refusing to apply it to Israel. Neither Luxon, Peters or Collins has dared to say a word about the US’s full-blown attacks on international law and its institutions such as the International Criminal Court.”

    The Defence Capability Plan also clearly ties NZ to deploying with the US against China. It says:

     “New Zealand has a particular interest in Indo-Pacific Security. This is where our security partners are closely engaged, where Defence contributions would be expected, and where our economic and strategic interests converge. Defence will focus on contributing to activities that reinforce the existing international rules-based order.”

    “Right now, the Ministry of Foreign Affairs and Trade and security services are all buying into the US’s fear mongering about China. That is where this drive for massive spending comes from. We should be not adopt an anti-China position simply because that is the US position.”

    “Plans to expand the aerospace capability and industry are almost entirely to service the US military. These launches carry classified ‘national security’ payloads doing the dirty work of US targeting and surveillance. We have no idea what is actually being done from our shores, at places like Mahia.”

    “New Zealand’s role must be to push for peaceful solutions and step away from dangerous alliances. The US is a fascist state. It is not a reliable ally as the Europeans are quickly learning, and NZ would be wise to create some distance between it and our international relations.”

    “This Defence Capability Plan will not make New Zealanders safer or more secure. This plan will ensure that desperately needed public services here in Aotearoa are starved of resources and primed for privatisation, while US weapons companies drain our treasury and the US military sets us up to service them in their forever wars.” 

    MIL OSI New Zealand News –