Posts Tagged ‘press release’

PAREXEL International Enters Definitive Agreement to Be Acquired by Pamplona Capital Management for $88.10 Per Share in Cash | Business Wire

BOSTON & NEW YORK–(BUSINESS WIRE)–PAREXEL International Corporation (NASDAQ: PRXL), a leading global

biopharmaceutical services provider, and Pamplona Capital Management,

LLP (Pamplona) today announced that they have entered into a definitive

agreement under which Pamplona will acquire all of the outstanding

shares of PAREXEL for $88.10 per share in cash in a transaction valued

at approximately $5.0 billion, including PAREXEL’s net debt.

The purchase price represents a 27.9% premium to PAREXEL’s unaffected

closing stock price on May 5, 2017, the last trading day prior to

published market speculation regarding a potential transaction involving

the Company; a 38.5% premium to the unaffected 30-day volume weighted

average closing share price of PAREXEL’s common stock ended May 5, 2017;

and a 23.3% premium to the Company’s undisturbed 52-week high.

“Today’s announcement is the culmination of a comprehensive review of

the opportunities available to the Company, including interest solicited

and received from multiple parties with the assistance of independent

financial and legal advisors. Having considered these opportunities, the

PAREXEL Board of Directors unanimously determined that this all-cash

transaction and the significant, certain value it provides is in the

best interest of PAREXEL shareholders, as well as our company,” said

Josef von Rickenbach, Chairman and Chief Executive Officer of PAREXEL.

“PAREXEL benefits from a strong operating foundation with expertise and

resources to support our clients in their clinical trials around the

world. However, as our results over the past year show, the market for

biopharmaceutical services is evolving. We believe the more flexible

corporate structure afforded by this transaction will better position us

to advance PAREXEL’s strategy in light of these realities and to shape

the Company to best capitalize on our exciting market opportunities.”

Mr. von Rickenbach continued, “Pamplona has significant experience in

the pharmaceutical and healthcare industries, and we are pleased to have

their support as we work to realize the long-term opportunity for

PAREXEL. This transaction and the meaningful value it delivers for our

shareholders is a testament to the 19,600 employees who help our clients

advance the development and commercialization of new medical therapies

worldwide, and we will remain focused on providing our clients with the

service and support that have long set PAREXEL apart.”

Jeremy Gelber, M.D., Partner at Pamplona, said, “We have great respect

for the global leadership that Josef and the talented employees at

PAREXEL have built. We are excited to partner with a company and a team

that have a strong track record in helping to successfully navigate the

complexities innate to the biopharmaceutical industry and bring new

therapies to market.”

The transaction is not subject to a financing condition. Bank of America

Merrill Lynch and J.P. Morgan Chase Bank, N.A. have provided committed

financing for the transaction.

The transaction is expected to close early in the fourth quarter of

2017, subject to the approval of a majority of PAREXEL shareholders and

the satisfaction of other customary closing conditions.

PAREXEL expects to hold a Special Meeting of Shareholders to consider

and vote on the proposed agreement with Pamplona as soon as practicable

after the mailing of the proxy statement to shareholders.

The PAREXEL Board of Directors unanimously approved the transaction and

intends to recommend that all PAREXEL shareholders vote to approve the

agreement with Pamplona.

Upon the completion of the transaction, PAREXEL will become a privately

held company and shares of PAREXEL’s common stock will no longer be

listed on any public market.

Goldman Sachs & Co. LLC is acting as financial advisor to PAREXEL, and

Goodwin Procter LLP is serving as legal counsel.

Perella Weinberg Partners LP is acting as financial advisor to Pamplona,

and Kirkland & Ellis LLP is serving as legal counsel.

About PAREXEL International

PAREXEL International Corporation is a leading global biopharmaceutical

services company, providing a broad range of expertise-based clinical

research, consulting, medical communications, and technology solutions

and services to the worldwide pharmaceutical, biotechnology and medical

device industries. Committed to providing solutions that expedite

time-to-market and peak-market penetration, PAREXEL has developed

significant expertise across the development and commercialization

continuum, from drug development and regulatory consulting to clinical

pharmacology, clinical trials management, and reimbursement. PAREXEL

Informatics provides advanced technology solutions, including medical

imaging, to facilitate the integrated clinical development and

regulatory information management process. Headquartered near Boston,

Massachusetts, PAREXEL has offices in 86 locations in 51 countries

around the world, and has approximately 19,600 employees. For more

information about PAREXEL International visit www.PAREXEL.com.

PAREXEL and PAREXEL Informatics are trademarks or registered trademarks

of PAREXEL International Corporation or its affiliates. All other

trademarks are the property of their respective owners.

About Pamplona Capital Management

Pamplona Capital Management is a London, New York, and Boston-based

specialist investment manager established in 2005 that provides an

alternative investment platform across private equity, fund of hedge

funds, and single-manager hedge fund investments. Pamplona manages over

$10 billion in assets across a number of funds for a variety of clients

including public pension funds, international wealth managers,

multinational corporations, family offices, and funds of hedge funds.

Pamplona invests long-term capital across the capital structure of its

portfolio companies in both public and private market situations and has

been one of the most active private equity investors in healthcare in

recent years. Notable recent Pamplona healthcare investments include

nThrive, Formativ Health, Brighton Health Group, Alvogen, Spreemo,

PatientCo and Intralign. Please see www.pamplonafunds.com

for further information.

Additional Information about the Proposed Transaction and Where to

Find It

PAREXEL plans to file with the U.S. Securities and Exchange Commission

(“SEC”) and furnish its shareholders with a proxy statement in

connection with the proposed transaction with Pamplona and security

holders of PAREXEL are urged to read the proxy statement and the other

relevant materials when they become available because such materials

will contain important information about PAREXEL, Pamplona and their

respective affiliates and the proposed transaction. The proxy statement

and other relevant materials (when they become available), and any and

all other documents filed by PAREXEL with the SEC, may be obtained free

of charge at the SEC’s website at www.sec.gov.

In addition, investors may obtain a free copy of PAREXEL’s filings from

PAREXEL’s website at www.PAREXEL.com

or by directing a request to: PAREXEL International Corporation, 195

West Street, Waltham, Massachusetts 02451, Attn: Ron Aldridge, Senior

Director of Investor Relations.

INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT AND

THE OTHER RELEVANT MATERIALS WHEN THEY BECOME AVAILABLE BEFORE MAKING

ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE PROPOSED

TRANSACTION.

Participants in the Solicitation

PAREXEL and its directors and executive officers may be deemed to be

participants in the solicitation of proxies from the security holders of

PAREXEL in connection with the proposed transaction. Information about

those directors and executive officers of PAREXEL, including their

ownership of PAREXEL securities, is set forth in the proxy statement for

PAREXEL’s 2016 Annual Meeting of Stockholders, which was filed with the

SEC on October 26, 2016, as amended and supplemented by other PAREXEL

filings with the SEC. Investors and security holders may obtain

additional information regarding the direct and indirect interests of

PAREXEL and its directors and executive officers in the proposed

transaction by reading the proxy statement and other public filings

referred to above.

Forward-Looking Statements

This press release includes forward-looking statements within the

meaning of the Private Securities Litigation Reform Act of 1995. These

forward-looking statements include, but are not limited to, potential

opportunities to accelerate PAREXEL’s growth and enhance its delivery of

world-class solutions to its customers; PAREXEL’s position to capitalize

on an increased trend for outsourcing of pharmaceutical products and

services; the expected impact of this transaction on PAREXEL’s financial

and operating results and business, the operation and management of

PAREXEL after the acquisition, the anticipated funding for the

transaction, and the timing of the closing of the acquisition. The words

“anticipates”, “believes”, “expects”, “may”, “plans”, “predicts”,

“will”, “potential”, “goal” and similar expressions are intended to

identify forward-looking statements, although not all forward-looking

statements contain these identifying words. Readers should not place

undue reliance on these forward-looking statements. PAREXEL’s actual

results may differ materially from such forward-looking statements as a

result of numerous factors, some of which PAREXEL may not be able to

predict and may not be within PAREXEL’s control. Factors that could

cause such differences include, but are not limited to, (i) the risk

that the proposed merger may not be completed in a timely manner, or at

all, which may adversely affect PAREXEL’s business and the price of its

common stock, (ii) the failure to satisfy all of the closing conditions

of the proposed merger, including the adoption of the Merger Agreement

by PAREXEL’s stockholders and the receipt of certain governmental and

regulatory approvals in the U.S. and in foreign jurisdictions, (iii) the

occurrence of any event, change or other circumstance that could give

rise to the termination of the Merger Agreement, (iv) the effect of the

announcement or pendency of the proposed merger on PAREXEL’s business,

operating results, and relationships with customers, suppliers,

competitors and others, (v) risks that the proposed merger may disrupt

PAREXEL’s current plans and business operations, (vi) potential

difficulties retaining employees as a result of the proposed merger,

(vii) risks related to the diverting of management’s attention from

PAREXEL’s ongoing business operations, and (viii) the outcome of any

legal proceedings that may be instituted against PAREXEL related to the

Merger Agreement or the proposed merger. In addition, PAREXEL’s actual

performance and results may differ materially from those currently

anticipated due to a number of risks including, without limitation:

changes in customers’ spending and demand and the trends in

pharmaceutical companies’ outsourcing of research and development;

PAREXEL’s ability to provide quality and timely services and to compete

with other companies providing similar services; PAREXEL’s ability to

comply with strict government regulations of the drug, medical device

and biotechnology industry; PAREXEL’s ability to successfully integrate

past and future acquisitions, including the acquisitions of Health

Advances, LLC, ExecuPharm, Inc., and The Medical Affairs Company, LLC,

and to realize the expected benefits of each; a change in PAREXEL’s

relationships with its largest customers; PAREXEL’s ability to service

its indebtedness; PAREXEL’s ability to protect its technology and

proprietary information and the confidential information of its

customers; the loss, modification, or delay of contracts which would,

among other things, adversely impact the Company’s recognition of

revenue included in backlog; the Company’s dependence on certain

industries and clients; the risk of patent infringement and other

litigation; as well as those risks discussed in PAREXEL’s Annual Report

on Form 10-K for the year ended June 30, 2016 as filed with the

Securities and Exchange Commission (SEC) on September 9, 2016,

subsequent Quarterly Reports filed with the SEC and PAREXEL’s other SEC

filings. Numerous factors, including those noted above, may cause actual

results to differ materially from current expectations. PAREXEL

expressly disclaims any current intention or obligation to update any

forward-looking statement in this press release to reflect future events

or changes in facts affecting the forward-looking statements contained

in this press release.

Be the first to comment - What do you think?  Posted by admin - July 16, 2017 at 3:44 pm

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BlackRock Capital Investment Corporation Announces Pricing of $125 Million of 5.00% Convertible Notes Due 2022 | Business Wire

NEW YORK–(BUSINESS WIRE)–BlackRock Capital Investment Corporation (NASDAQ:BKCC) (“BCIC”, “our”,

or “we”) announced today the pricing of $125 million in aggregate

principal amount of senior unsecured 5.00% Convertible Notes due 2022

(the “Notes”). BCIC has granted the underwriters a 30-day option to

purchase up to $18.75 million aggregate principal amount of additional

Notes to cover over-allotments, if any. The offering is expected to

close on June 13, 2017, subject to satisfaction of customary closing

conditions.

The Notes will be convertible at an initial conversion rate of 118.2173

shares of BCIC’s common stock per $1,000 principal amount of Notes,

which is equivalent to an initial conversion price of approximately

$8.46 per share of common stock, representing a 10.0% conversion premium

over the last reported sale price of BCIC’s common stock on June 7, 2017

which was $7.69 per share. Prior to December 15, 2021, the Notes will be

convertible only upon certain circumstances and during certain periods,

and thereafter will be convertible at any time prior to the close of

business on the scheduled trading day immediately preceding the maturity

of the Notes. Upon conversion, holders will receive cash, shares of

BCIC’s common stock or a combination thereof at BCIC’s election.

The Notes will mature on June 15, 2022, unless previously converted,

repurchased or redeemed in accordance with their terms. Interest on the

Notes will be payable semi-annually in arrears on June 15 and December

15 of each year, commencing on December 15, 2017. The Notes will be

general unsecured obligations of BCIC, will rank equally in right of

payment with BCIC’s existing and future senior unsecured debt, and will

rank senior in right of payment to any potential subordinated debt,

should any be issued in the future.

BCIC intends to use the net proceeds of the offering to repay certain

outstanding indebtedness, which may include repaying outstanding

borrowings under our credit facility, and for other general corporate

purposes, which include investing in portfolio companies in accordance

with our investment objective and strategies.

Morgan Stanley & Co. LLC, BofA Merrill Lynch, BMO Capital Markets,

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC,

Deutsche Bank Securities and HSBC Securities (USA) Inc. are acting as

joint book-running managers for the offering.

The offering of these securities may be made only by means of a

prospectus and a related prospectus supplement, a copy of which may be

obtained by contacting: Morgan Stanley & Co. LLC, 180 Varick Street, New

York, New York 10014, Attention: Prospectus Department, Telephone:

866-718-1649; BofA Merrill Lynch, NC1-004-03-43, 200 North College

Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department,

Email: dg.prospectus_requests@baml.com;

BMO Capital Markets Corp. Attn: Equity Syndicate Department, 3 Times

Square, New York, NY 10036, bmoprospectus@bmo.com,

Telephone: 1-800-414-3627; Citigroup Global Markets Inc., c/o Broadridge

Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717; Credit

Suisse Securities (USA) LLC, Attention: Credit Suisse Prospectus

Department, One Madison Avenue, New York, NY 10010, e-mail: newyork.prospectus@credit-suisse.com;

Deutsche Bank Securities, 60 Wall Street, New York, NY 10005-2836,

Attention: Prospectus Group, Telephone: (800) 503-4611, Email: prospectus.cpdg@db.com

or HSBC Securities (USA) Inc., Attention: Prospectus Department, 452

Fifth Avenue, New York, NY 10018, telephone: +1 (877) 429-7459, or by

emailing: ny.equity.syndicate@us.hsbc.com.

This press release shall not constitute an offer to sell or a

solicitation of an offer to buy nor shall there be any sale of these

securities in any state in which such offer, solicitation or sale would

be unlawful prior to registration or qualification under the securities

laws of any state.

About BlackRock Capital Investment Corporation

BlackRock Capital Investment Corporation is a business development

company that provides debt and equity capital to middle-market companies.

The Company’s investment objective is to generate both current income

and capital appreciation through debt and equity investments. The

Company invests primarily in middle-market companies in the form of

senior and junior secured and unsecured debt securities and loans, each

of which may include an equity component, and by making direct

preferred, common and other equity investments in such companies.

Forward-looking statements

This press release, and other statements that BlackRock Capital

Investment Corporation may make, may contain forward-looking statements

within the meaning of the Private Securities Litigation Reform Act, with

respect to BlackRock Capital Investment Corporation’s future financial

or business performance, strategies or expectations. Forward-looking

statements are typically identified by words or phrases such as “trend,”

“potential,” “opportunity,” “pipeline,” “believe,” “comfortable,”

“expect,” “anticipate,” “current,” “intention,” “estimate,” “position,”

“assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,”

“seek,” “achieve,” and similar expressions, or future or conditional

verbs such as “will,” “would,” “should,” “could,” “may” or similar

expressions.

BlackRock Capital Investment Corporation cautions that forward-looking

statements are subject to numerous assumptions, risks and uncertainties,

which may change over time. Forward-looking statements speak only as of

the date they are made, and BlackRock Capital Investment Corporation

assumes no duty to and does not undertake to update forward-looking

statements. Actual results could differ materially from those

anticipated in forward-looking statements and future results could

differ materially from historical performance.

In addition to factors previously disclosed in BlackRock Capital

Investment Corporation’s SEC reports and those identified elsewhere in

this press release, the following factors, among others, could cause

actual results to differ materially from forward-looking statements or

historical performance: (1) our future operating results; (2) our

business prospects and the prospects of our portfolio companies; (3) the

impact of investments that we expect to make; (4) our contractual

arrangements and relationships with third parties; (5) the dependence of

our future success on the general economy and its impact on the

industries in which we invest; (6) the financial condition of and

ability of our current and prospective portfolio companies to achieve

their objectives; (7) our expected financings and investments; (8) the

adequacy of our cash resources and working capital, including our

ability to obtain continued financing on favorable terms; (9) the timing

of cash flows, if any, from the operations of our portfolio companies;

(10) the impact of increased competition; (11) the ability of our

investment advisor to locate suitable investments for us and to monitor

and administer our investments; (12) potential conflicts of interest in

the allocation of opportunities between us and other investment funds

managed by our investment advisor or its affiliates; (13) the ability of

our investment advisor to attract and retain highly talented

professionals; (14) changes in law and policy accompanying the new

administration and uncertainty pending any such changes; (15) increased

geopolitical unrest, terrorist attacks or acts of war, which may

adversely affect the general economy, domestic and local financial and

capital markets, or the specific industries of our portfolio companies;

(16) changes and volatility in political, economic or industry

conditions, the interest rate environment, foreign exchange rates or

financial and capital markets; (17) the unfavorable resolution of legal

proceedings; and (18) the impact of changes to tax legislation and,

generally, our tax position.

BlackRock Capital Investment Corporation’s Annual Report on Form 10-K

for the year ended December 31, 2016, filed with the SEC identifies

additional factors that can affect forward-looking statements.

Available Information

BlackRock Capital Investment Corporation’s filings with the SEC, press

releases, earnings releases and other financial information are

available on its website at www.blackrockbkcc.com.

The information contained on our website is not a part of this press

release.

Be the first to comment - What do you think?  Posted by admin - July 14, 2017 at 1:18 pm

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Forex International Trading Corp. Signs Joint Venture Agreement with Heffernan Capital Ltd. | Business Wire

NEW YORK–(BUSINESS WIRE)–Forex International Trading Corp. (the “Company”) (OTCBB:FXIT), today

announced a joint venture with Heffernan Capital Ltd. The purpose of the

joint venture is to promote the www.4xint.com

site throughout Asia.

This Joint Venture is being tested for six months to determine the

market opportunity in the Asia market. While Singapore has represented a

strong market for the Triple 8 platforms, the Company has not focused

its marketing efforts in other countries in the region.

Forex International Trading has chosen Heffernan Capital Ltd. to partner

with to market in this region because of their strong reputation and web

presence in this region. In fact, one of Heffernan Capital’s websites www.livetradingnews.com

ranks 515 in South Korea on www.alexa.com

which places it higher than www.fidelity.com,

www.morganstanley.com,

www.barclays.co.uk

and www.bankofamerica.com.

Forex International Trading CEO Darren Dunckel commented “I am excited

to partner with such well respected names in the financial services

industry.” Issaree Suwunnavid CEO of Heffernan Capital said, “Foreign

Exchange, Gold and Commodity Trading are extremely popular in Asia and

we will be building out multilingual services to capture that market.

The reach that the new web platforms provide should provide us with

exposure that will help us to execute our business plan in the Asian

region.”

The site www.4xint.com

will continue to block traffic from the United States while the Company

continues to develop its strategy for the United States.

About Heffernan Capital Management

Heffernan Capital Management aims to become one of the world’s leading

asset management enterprises. It specializes in global investment

management, risk management and advisory services to institutional,

intermediary and individual investors around the world. Heffernan

Capital Management offers a range of solutions, from proprietary active

management approaches aimed at delivering true outperformance to

algorithmic indexing strategies designed to manage broad exposure to the

world’s capital markets. Heffernan Capital Management brings investment

solutions through a wide variety of product structures, including

individual and institutional separate accounts, mutual funds and other

pooled investment vehicles, and the industry-leading trading platform

Heffernan Capital Management Direct. The foundation of our business is

to deliver the best for our clients, every time.

Heffernan Capital Management combines specific market insights, global

reach and scale, proprietary technology, strong local knowledge and

ability to deliver performance in all market environments. Its goal is

always striving to achieve the best balance between risk and

opportunity. It is a global firm with our roots in the Emerging Markets

of Asia; that combines the benefits of worldwide reach with local

service and relationships.

About Forex International Trading Corp.

Headquartered in New York, NY, Forex International Trading Corp.

operates an offshore advanced online trading platform for Forex markets

to non U.S. residents. The Company focuses on providing individual and

institutional investors with a platform for buying and selling

currencies, precious metals and commodity futures. The company’s

platforms allow self-directed, broker-assisted, and managed accounts.

Through the platforms, customers have access to over 20 currencies and

bullion deliveries. The Foreign Currency Market (“Forex” or “FX”) is

created by the global exchange of currencies. According to the Bank for

International Settlements, the average daily turnover, or, volume in the

Global FX market in April 2010 was $4 Trillion compared to only $1.2

Trillion in 2001 (Wall Street Journal, Sept. 1, 2010). Historically,

access to the FX market was only available to governments, commercial

banks, corporations, and other large financial institutions. The Company

is now capitalizing on the growth of online currency trading through its

state of the art web-based trading platforms.

For more information, please visit: http://www.forex-international-trading.com.

Forward-Looking Statements: This press release contains

forward-looking statements, including expected industry patterns and

other financial and business results that involve known and unknown

risks, uncertainties and other factors that may cause our actual

results, levels of activity, performance or achievements to differ

materially from results expressed or implied by this press release. Such

risk factors include, among others, whether Forex International Trading

Corp. can successfully execute its operating plan; its ability to

integrate acquired companies and technology; its ability to retain key

employees; its ability to successfully combine product offerings and

customer acceptance of combined products; general market conditions; and

whether Forex International Trading Corp. can successfully develop new

products and the degree to which these gain market acceptance. Actual

results may differ materially from those contained in the

forward-looking statements in this press release. Forex International

Trading Corp. does not undertake any obligation to update or revise

forward-looking statements to reflect changed assumptions, the

occurrence of unanticipated events or changes to future operating

results.

Be the first to comment - What do you think?  Posted by - July 3, 2017 at 10:07 pm

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Yahoo Announces Commencement of Tender Offer to Purchase up to $3.0 Billion of Its Common Stock | Business Wire

SUNNYVALE, Calif.–(BUSINESS WIRE)–Yahoo! Inc. (“Yahoo” or the “Company”) (NASDAQ: YHOO) announced today

the commencement of a modified “Dutch auction” self-tender offer to

purchase for cash up to $3,000,000,000 of shares of its common stock at

prices equal to (A) the “Alibaba VWAP” (as described below), multiplied

by (B) multiples specified by tendering stockholders not greater than

0.420 nor less than 0.370, provided that in no event will the purchase

price be less than $37.00 per share, less applicable withholding taxes

and without interest. The terms and conditions of the tender offer are

set forth in an Offer to Purchase, Letter of Transmittal and related

documentation that are being distributed to holders of the Company’s

shares and are being filed with the U.S. Securities and Exchange

Commission (the “SEC”).

The tender offer will expire on June 13, 2017 at 11:59 p.m., New York

City time, unless the tender offer is extended or withdrawn by the

Company. Tenders of shares must be made prior to the expiration of the

tender offer and may be withdrawn at any time prior to the expiration of

the tender offer, in each case in accordance with the procedures

described in the tender offer materials that are being distributed to

stockholders.

The “Alibaba VWAP” (determined as described in the Offer to Purchase)

means the daily volume-weighted average price for an American Depositary

Share (“ADS”) of Alibaba Group Holding Limited (“Alibaba”), on the New

York Stock Exchange, on the second trading day prior to the expiration

date; provided, that in no event shall the Alibaba VWAP be less than

$100.00 for the purpose of computing the purchase price. Yahoo will

announce the Alibaba VWAP and the prices payable for shares pursuant to

the tender offer for each multiple within the Company’s specified range

by press release no later than 4:30 p.m., New York City time, on the

second trading day prior to the expiration date (June 9, 2017 based on

the current expiration date). Such press release, which will also

include the maximum number of shares we may purchase in the tender

offer, will also be filed as an amendment to the Schedule TO that we are

filing with the SEC relating to the tender offer.

The purpose of the tender offer is to provide liquidity to a potentially

significant number of stockholders that will be forced to sell their

shares at or prior to the closing of the pending sale of Yahoo’s

operating business to Verizon Communications Inc. (the “Sale

Transaction”) as a result of the fact that, upon completion of the Sale

Transaction, the Company will be required to register as a closed-end

investment company under the Investment Company of 1940 and its shares

are expected to be removed from the Standard and Poor’s 500 Composite

Index (the “S&P 500”) and other indices. The tender offer also enables

the Company to potentially return a significant amount of cash to its

stockholders by repurchasing shares. The Company believes that the

tender offer provides a mechanism for completing a sizable repurchase of

its shares more rapidly than would be possible through open market

purchases.

When the tender offer expires, the Company will determine a single

purchase price, which will not be less than $37.00 per share, that it

will pay for the shares by determining the lowest multiple within the

Company’s specified range at which shares have been tendered or have

been deemed to be tendered that, when multiplied by the Alibaba VWAP,

which will not be less than $100 for such purpose, will enable the

Company to purchase the maximum number of shares properly tendered in

the tender offer and not properly withdrawn having an aggregate purchase

price not exceeding $3,000,000,000.

The NASDAQ closing price of Yahoo’s common stock on May 15, 2017 was

$49.86 per share. Based on an indicative Alibaba VWAP of $120.9247 as of

May 15, 2017, the highest price payable in the tender offer (determined

by multiplying such indicative Alibaba VWAP by the high end of the

Company’s specified range of 0.420) would be $50.79 per share, which

represents a premium of approximately 1.9% to the last reported closing

price of the shares on such date, and the lowest price payable in the

tender offer (determined by multiplying such indicative Alibaba VWAP by

the low end of the Company’s specified range of 0.370) would be $44.74

per share, which represents a discount of approximately 10.3% to the

last reported closing price of the shares on such date.

Throughout the tender offer, a dedicated webpage will be available at www.innisfreema.com/tender/yhoo,

which will provide, among other information, (i) for each trading day

prior to the Company’s announcement of the Alibaba VWAP, indicative

prices payable for the shares pursuant to the tender offer for each

multiple that a tendering stockholder can select within the Company’s

specified range based on the indicative Alibaba VWAP on the preceding

trading day and (ii) after the Company announces the Alibaba VWAP, the

actual prices payable for the shares pursuant to the tender offer for

each such multiple. Such dedicated webpage will also show reasonably

current trading prices of the Company’s shares and Alibaba’s ADSs.

All shares accepted for payment will be purchased at the purchase price

determined in the tender offer, regardless of whether any stockholder

tendered such shares at a lower multiple than the final multiple used in

determining the purchase price. Upon the terms and subject to the

conditions of the tender offer, stockholders will receive the purchase

price in cash, less any applicable withholding taxes and without

interest, for shares properly tendered (and not properly withdrawn) at

prices equal to or less than the purchase price. If shares are tendered

at prices at or below the purchase price with an aggregate purchase

price of more than $3,000,000,000, tendering stockholders whose shares

are tendered at or below the purchase price owning fewer than 100

shares, or “odd lot” holders, will have their shares purchased without

proration and all other tendered shares at or below the purchase price

will be purchased on a pro rata basis, subject to the conditional tender

provisions described in the tender offer materials being distributed to

stockholders. Stockholders whose shares are purchased in the tender

offer will be paid promptly after the expiration of the tender offer.

All shares tendered at prices above the purchase price will not be

purchased and will be returned promptly after the expiration of the

tender offer to the tendering stockholders, free of charge. The Company

also reserves the right to purchase up to an additional 2% of its

outstanding shares, thereby increasing the aggregate purchase price,

pursuant to and without amending or extending the tender offer.

The tender offer is not conditioned upon obtaining financing or any

minimum number of shares being tendered; however, the tender offer is

subject to a number of other terms and conditions, which are specified

in the Offer to Purchase, including the conditions that (i) the Sale

Transaction shall have been completed, (ii) the Company’s shares shall

have been removed from the S&P 500 and (iii) the Alibaba VWAP shall not

be less than $80.00. In the event that the completion of the Sale

Transaction is delayed beyond the date on which the shares are removed

from the S&P 500, the Company may waive, in its discretion, the

condition to the tender offer that the Sale Transaction shall have been

completed.

The Company’s directors and executive officers have informed the Company

of their intention not to tender any shares in the tender offer.

J.P. Morgan Securities LLC will serve as dealer manager for the tender

offer, Innisfree M&A Incorporated will serve as information agent for

the tender offer and Computershare Trust Company, N.A. will serve as

depositary for the tender offer. For more information about the tender

offer, please contact Innisfree M&A Incorporated at (877) 750-9498.

None of the Company, the Company’s affiliates or subsidiaries, the

dealer manager, the information agent or the depositary has made or is

making any recommendation to the Company’s stockholders as to whether to

tender or refrain from tendering their shares or as to the price or

prices at which stockholders may choose to tender their shares.

Stockholders must make their own decision as to whether to tender their

shares and, if so, how many shares to tender and the multiple or

multiples to be used in determining the price or prices at which to

tender them. Stockholders are urged to discuss their decision with their

tax advisors, financial advisors and/or brokers.

The discussion of the tender offer contained in this press release

is for informational purposes only and is neither an offer to purchase

nor a solicitation of an offer to sell shares. The tender offer is being

made only pursuant to the Offer to Purchase, the related Letter of

Transmittal, and other related materials mailed or otherwise delivered

to stockholders, as they may be amended or supplemented from time to

time. Stockholders should read those materials and the documents

incorporated therein by reference carefully when they become available

because they will contain important information, including the terms and

conditions of the tender offer. The Company is filing a Tender Offer

Statement on Schedule TO (the “Schedule TO”) with the SEC. The Schedule

TO, including the Offer to Purchase, the related Letter of Transmittal

and other related materials, will also be available to stockholders at

no charge on the SEC’s website at www.sec.gov

or from the information agent for the tender offer, Innisfree M&A

Incorporated. Stockholders are urged to read those materials carefully

when they become available prior to making any decisions with respect to

the tender offer.

About Yahoo

Yahoo is a guide to digital information discovery, focused on informing,

connecting, and entertaining users through its search, communications,

and digital content products. By creating highly personalized

experiences, Yahoo helps users discover the information that matters

most to them around the world –– on mobile or desktop. Yahoo creates

value for advertisers with a streamlined, simple advertising technology

stack that leverages Yahoo’s data, content, and technology to connect

advertisers with their target audiences. Yahoo is headquartered in

Sunnyvale, California, and has offices located throughout the Americas,

Asia Pacific (APAC), and the Europe, Middle East and Africa (EMEA)

regions. For more information, visit the pressroom (pressroom.yahoo.net)

or the Company’s blog (yahoo.tumblr.com).

Forward-Looking Statements

This press release contains “forward-looking statements,” including

statements as to the amount, timing and manner of the tender offer,

which reflect the Company’s current views with respect to, among other

things, future events and financial performance. You can identify these

forward-looking statements by the use of forward-looking words such as

“outlook,” “believes,” “expects,” “potential,” “continues,” “may,”

“will,” “should,” “seeks,” “approximately,” “predicts,” “intends,”

“plans,” “estimates,” “anticipates” or the negative version of those

words or other comparable words. The inclusion of this forward-looking

information should not be regarded as a representation by Yahoo or any

other person that its future plans, estimates or expectations will be

achieved. Such forward-looking statements are subject to risks and

uncertainties and assumptions relating to the Company’s operations,

financial results, financial condition, business prospects, growth

strategy, liquidity and planned transactions. Factors which could have a

material adverse effect on the Company’s operations, future prospects

and value of its shares include, but are not limited to: expectations

about changes to its operating expenses; anticipated capital

expenditures; expectations about changes in its earnings in equity

interests and net income; expectations about the amount of unrecognized

tax benefits, the outcome of tax assessment appeals, the adequacy of its

existing tax reserves, future tax expenditures, and tax rates;

expectations about the sufficiency of its available sources of liquidity

to meet normal operating requirements and capital expenditures;

expectations regarding the future outcome of legal proceedings in which

the Company is involved; potential adverse effects on its relationships

with existing and potential advertisers, suppliers, customers, vendors,

distributors, landlords, licensors, licensees, joint venture partners,

and other business partners; the ability of Yahoo to complete the Sale

Transaction; the initiation or outcome of any legal or regulatory

proceedings that have been or may be instituted against the Company and

its directors and/or officers relating to the Sale Transaction as well

as certain liabilities arising out of governmental or third party

investigations, litigation or claims related to certain data security

incidents for which Yahoo will retain liability following the closing of

the Sale Transaction; the value of Yahoo’s investment assets, including

its shares in Alibaba, its shares in Yahoo Japan Corporation and certain

other investments; the ability of Yahoo to complete the tender offer and

the number of shares it is able to purchase pursuant to the tender offer

or otherwise; and the ability of Yahoo to achieve the benefits

contemplated by the tender offer.

These factors should not be construed as exhaustive and should be read

in conjunction with the other cautionary statements that are included in

this press release. The Company does not undertake any obligation to

publicly update or review any forward-looking statement, whether as a

result of new information, future developments or otherwise. The

foregoing should be read in conjunction with the other cautionary

statements that are included herein and elsewhere, including the risk

factors described under the captions “Risk Factors” and “Management’s

Discussion and Analysis of Financial Condition and Results of

Operations” in its Form 10-Q for the quarter ended March 31, 2017 filed

with the SEC and other documents the Company files with or furnish to

the SEC. Any forward-looking statements made in this press release are

qualified by these cautionary statements, and there can be no assurance

that the actual results or developments the Company anticipates will be

realized or, even if substantially realized, that they will have the

expected consequences to, or effects on, the Company or its business or

operations.

Be the first to comment - What do you think?  Posted by admin - June 22, 2017 at 1:24 am

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Vertex Energy, Inc. to Present at the Stifel 2017 Industrials Conference Scheduled on June 15, 2017 at 12:40 PM Eastern Daylight Time | Business Wire

HOUSTON–(BUSINESS WIRE)–Vertex Energy, Inc. (NASDAQ:VTNR),

a refiner and marketer of high-quality specialty hydrocarbon products,

announced today that its Chairman and CEO, Benjamin P. Cowart, will

present at the Stifel 2017 Industrials Conference on June 15, 2017.

The presentation is currently slated to run from 12:40-1:10 PM in

Hubbard 1 at the Lotte New York Palace Hotel, located in New York, New

York.

The presentation will be posted in the Investor Relations section of the

Company’s website at www.vertexenergy.com

ABOUT VERTEX ENERGY, INC.

Vertex Energy, Inc. (VTNR) is a specialty refiner and marketer of

high-quality hydrocarbon products. Our business divisions include

aggregation and transportation of refinery feedstocks such as used motor

oil and other petroleum and chemical co-products to produce and

commercialize a broad range of high purity intermediate and finished

products such as fuel oils, marine grade distillates and high purity

base oils used for lubrication. Vertex operates on a regional model with

strategic hubs located in key geographic areas in the United States.

With its headquarters in Houston, Texas, Vertex Energy’s processing

operations are located in Houston and Port Arthur (TX), Marrero (LA),

and Columbus (OH). For more information on Vertex Energy please contact

Porter, LeVay & Rose, Inc.’s investor relations representative Marlon

Nurse, D.M. at 212-564-4700 or visit our website at www.vertexenergy.com.

Forward-Looking Statements

This press release may contain forward-looking statements, including

information about management’s view of Vertex Energy’s future

expectations, plans and prospects, within the safe harbor provisions

under The Private Securities Litigation Reform Act of 1995 (the “Act”).

In particular, when used in the preceding discussion, the words

“believes,” “hopes,” “expects,” “intends,” “plans,” “anticipates,” or

“may,” and similar conditional expressions are intended to identify

forward-looking statements within the meaning of the Act, and are

subject to the safe harbor created by the Act. Any statements made in

this news release other than those of historical fact, about an action,

event or development, are forward-looking statements. These statements

involve known and unknown risks, uncertainties and other factors, which

may cause the results of Vertex Energy, its divisions and concepts to be

materially different than those expressed or implied in such statements.

These risk factors and others are included from time to time in

documents Vertex Energy files with the Securities and Exchange

Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and

Form 8-Ks. Other unknown or unpredictable factors also could have

material adverse effects on Vertex Energy’s future results. The

forward-looking statements included in this press release are made only

as of the date hereof. Vertex Energy cannot guarantee future results,

levels of activity, performance or achievements. Accordingly, you should

not place undue reliance on these forward-looking statements. Finally,

Vertex Energy undertakes no obligation to update these statements after

the date of this release, except as required by law, and also takes no

obligation to update or correct information prepared by third parties

that are not paid for by Vertex Energy.

Be the first to comment - What do you think?  Posted by admin - June 11, 2017 at 9:15 pm

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Kindred Completes Sale of 12 LTAC Hospitals to Curahealth, Advancing LTAC Portfolio Optimization Strategy | Business Wire

LOUISVILLE, Ky.–(BUSINESS WIRE)–Kindred Healthcare, Inc. (“Kindred” or the “Company”) (NYSE:KND) today

announced that it has completed its previously announced agreement to

sell 12 long-term acute care (“LTAC”) hospitals (the “Hospitals”) for

$27.5 million to a group of entities operating under the name

“Curahealth,” which are affiliates of a private investment fund

sponsored by Nautic Partners, LLC (“Nautic”). The Hospitals have a total

of 783 licensed beds in Arizona, Louisiana, Massachusetts, Oklahoma,

Pennsylvania and Tennessee.

Benjamin A. Breier, President and Chief Executive Officer of Kindred,

commented, “We are pleased to complete the sale of 12 LTAC hospitals to

Curahealth, as this transaction creates both strategic and financial

value for Kindred. Optimizing our LTAC hospital portfolio is a key

element of our LTAC criteria mitigation strategy and this transaction

significantly advances that strategy. Nautic has a proven track record

of success in the healthcare sector and will be a strong partner for

these hospitals and the communities they serve.”

For the full fiscal year 2016, Kindred expects that the Hospitals will

generate combined revenues of approximately $215 million and earnings

before interest, income taxes, depreciation and amortization (“EBITDA”)

at approximately breakeven. The Hospitals have $14 million of annual

aggregate rent expense.

Kindred realized approximately $21 million of cash proceeds from this

sale, subject to post-closing adjustments, with the remainder of the

purchase price to be paid upon satisfaction of financial and other

post-closing conditions. As previously announced, the Company amended

various master lease agreements with Ventas, Inc. (“Ventas”) (NYSE:VTR)

in April 2016 in connection with the proposed transaction with

Curahealth. The transactions with Curahealth and Ventas are also

expected to generate future cash income tax benefits for Kindred of

approximately $37 million. Kindred anticipates reporting pretax charges

of approximately $54 million related to the Ventas lease amendments and

approximately $45 million to $55 million related to the transaction with

Curahealth within fiscal 2016, of which approximately $8 million was

recorded during the six months ended June 30, 2016.

“We are excited to complete this transaction with Kindred and look

forward to providing high-quality healthcare to existing and future

patients in the markets these hospitals serve,” said Chester Crouch,

Chief Executive Officer of Curahealth.

Forward-Looking Statements

This press release includes forward-looking statements within the

meaning of Section 27A of the Securities Act of 1933, as amended, and

Section 21E of the Securities Exchange Act of 1934, as amended. These

forward-looking statements include, but are not limited to, the

Company’s ability to realize the anticipated proceeds and benefits from

these transactions, all statements regarding the Company’s expected

future financial position, results of operations, cash flows, dividends,

financing plans, business strategy, budgets, capital expenditures,

competitive positions, growth opportunities, plans and objectives of

management, government investigations, regulatory matters, and

statements containing the words such as “anticipate,” “approximate,”

“believe,” “plan,” “estimate,” “expect,” “project,” “could,” “would,”

“should,” “will,” “intend,” “may,” “potential,” “upside,” and other

similar expressions. Statements in this press release concerning the

Company’s business outlook or future economic performance, anticipated

profitability, revenues, expenses, dividends or other financial items,

product or services line growth, and expected outcome of government

investigations and other regulatory matters, together with other

statements that are not historical facts, are forward-looking statements

that are estimates reflecting the best judgment of the Company based

upon currently available information.

Such forward-looking statements are inherently uncertain, and

stockholders and other potential investors must recognize that actual

results may differ materially from the Company’s expectations as a

result of a variety of factors. Such forward-looking statements are

based upon management’s current expectations and include known and

unknown risks, uncertainties and other factors, many of which the

Company is unable to predict or control, that may cause the Company’s

actual results, performance or plans to differ materially from any

future results, performance or plans expressed or implied by such

forward-looking statements. These statements involve risks,

uncertainties and other factors in the Company’s Annual Report on Form

10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K

filed with the Securities and Exchange Commission.

Many of these factors are beyond the Company’s control. The Company

cautions investors that any forward-looking statements made by the

Company are not guarantees of future performance. The Company disclaims

any obligation to update any such factors or to announce publicly the

results of any revisions to any of the forward-looking statements to

reflect future events or developments.

Non-GAAP Measure

EBITDA: The Company defines EBITDA as earnings before interest,

income taxes, depreciation and amortization, and believes that the

presentation of EBITDA is useful to the investors because creditors,

securities analysts and investors use EBITDA as a measure of earnings

used to compare the performance of companies in the healthcare and other

industries.

EBITDA is a non-GAAP financial measure. Expected full fiscal year 2016

EBITDA for the Hospitals is provided only on a non-GAAP basis, because

of the inherent difficulty of forecasting the timing or amount of items

that would be included in income from continuing operations, which is

the most comparable GAAP financial measure. As a result, a

reconciliation of the expected full fiscal year 2016 EBITDA for the

Hospitals to income from continuing operations is not available without

unreasonable effort and the Company is unable to address the probable

significance of the unavailable information.

About Kindred Healthcare

Kindred Healthcare, Inc., a top-90 private employer in the United

States, is a FORTUNE 500 healthcare services company based in

Louisville, Kentucky with annual revenues of approximately $7.2 billion(1).

At June 30, 2016, Kindred through its subsidiaries had approximately

101,800 employees providing healthcare services in 2,684 locations in 46

states, including 97 transitional care hospitals, 19 inpatient

rehabilitation hospitals, 92 nursing centers, 19 sub-acute units, 617

Kindred at Home home health, hospice and non-medical home care sites of

service, 105 inpatient rehabilitation units (hospital-based) and

contract rehabilitation service businesses which served 1,735

non-affiliated sites of service. Ranked as one of Fortune magazine’s

Most Admired Healthcare Companies for seven years, Kindred’s mission is

to promote healing, provide hope, preserve dignity and produce value for

each patient, resident, family member, customer, employee and

shareholder we serve. For more information, go to www.kindredhealthcare.com.

You can also follow us on Twitter

and Facebook.

 

 

 

 

_________

(1)

Revenues based upon Kindred consolidated revenues for the twelve

months ended June 30, 2016.

Be the first to comment - What do you think?  Posted by admin - May 31, 2017 at 8:38 pm

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Global Tungsten & Powders Corp. Terminates Loan Agreement to Become Shareholder of 19.9% of the Issued and Outstanding Shares of Almonty | Business Wire

TORONTO–(BUSINESS WIRE)–Almonty Industries Inc. (TSX-V:AII)

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN

THE UNITED STATES

Almonty Industries Inc. (TSX-V:AII) (“Almonty”) announces that it

has reached agreement with Global Tungsten & Powders Corp. (“GTP”)

on the termination of a loan agreement pursuant to which Almonty was

indebted to GTP in the amount of USD$7,043,128 (CAD$9,415,183) of

principal and accrued interest.

In consideration for the termination of the loan agreement, Almonty will

issue to GTP 27,562,500 common shares (the “Consideration Shares”)

of Almonty at a deemed price equal to CAD$0.3325 and will issue to GTP a

convertible debenture (the “Convertible Debenture”) in the

principal amount of USD$172,772. The issuance of stock reflects a 25.5%

premium over current market. The Convertible Debenture will be

convertible into common shares of Almonty at a price per common share

equal to $0.265 (being the closing market price on the trading day prior

to the date of this news release).

The Consideration Shares, when issued, will represent 19.9% of the

issued and outstanding common shares of Almonty.

The issuance of the Consideration Shares and the Convertible Debenture

is subject to the approval of the TSX Venture Exchange.To the

extent that the conversion of the Convertible Debenture would result in

GTP becoming a “control person”, as defined in the Corporate Finance

Manual of the TSX Venture Exchange, GTP shall not be entitled to

exercise such conversion rights until Almonty receives shareholder

approval therefor.

Lewis Black, Chief Executive Officer of Almonty, commented, “GTP has

been a loyal and highly valued customer and business partner of Almonty

for years. The exchange of the outstanding loan owed to them at a price

in excess of the current market price reflects the conviction of GTP

that Almonty stock is currently undervalued. This marks the first time

in the 95-year history of the GTP/Plansee Group taking a direct

ownership position in a Tungsten concentrate producer. This new equity

position reinforces our and GTP’s view of the longevity and solid

foundation that Almonty is built upon and we can now count the largest

consumer of Tungsten concentrate outside of China as a significant

ongoing partner in the continuing development of the company and our

Sangdong project. We look forward to an ongoing successful business

relationship with GTP. Furthermore, the exchange of the loan to equity

provides significant balance sheet relief to Almonty. This marks the

commencement of our balance sheet improvement program now that we have

completed the substantial consolidation of the non-Chinese Tungsten

concentrate sector and prior to announcing the funding of our 100% owned

Sangdong project. As our balance sheet improvement program continues to

evolve we will notify the market accordingly.”

About Almonty

The principal business of Toronto, Canada-based Almonty Industries Inc.

is the mining, processing and shipping of tungsten concentrate from its

Los Santos Mine in western Spain, its Wolfram Camp Mine in north

Queensland, Australia and its Panasqueira mine in Portugal as well as

the development of the Sangdong tungsten mine in Gangwon Province, Korea

and the Valtreixal tin/tungsten project in north western Spain. The Los

Santos Mine was acquired by Almonty in September 2011 and is located

approximately 50 kilometres from Salamanca in western Spain and produces

tungsten concentrate. The Wolfram Camp Mine was acquired by Almonty in

September 2014 and is located approximately 130 kilometres west of

Cairns in northern Queensland, Australia and has produced tungsten and

molybdenum concentrate, although the Wolfram Camp Mine is not currently

producing due to ongoing refurbishment of the processing plant. The

Panasqueira mine, which has been in production since 1896, is located

approximately 260 kilometres northeast of Lisbon, Portugal, was acquired

in January 2016 and produces tungsten concentrate. The Sangdong mine,

which was historically one of the largest tungsten mines in the world

and one of the few long-life, high-grade tungsten deposits outside of

China, was acquired in September 2015 through the acquisition of a 100%

interest in Woulfe Mining Corp. Almonty owns 51% of, and also has an

irrevocable option to acquire a 100% ownership interest in, the

Valtreixal tin-tungsten project in north-western Spain. Further

information about Almonty’s activities may be found at www.almonty.com

and under Almonty’s profile at www.sedar.com.

Legal Notice

The release, publication or distribution of this announcement in certain

jurisdictions may be restricted by law and therefore persons in such

jurisdictions into which this announcement is released, published or

distributed should inform themselves about and observe such restrictions.

Neither TSX Venture Exchange nor its Regulation Services Provider (as

that term is defined in the policies of the TSX Venture Exchange)

accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

When used in this press release, the words “estimate”, “project”,

“belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or

“should” and the negative of these words or such variations thereon or

comparable terminology are intended to identify forward-looking

statements and information. This press release contains forward-looking

statements. These statements and information are based on management’s

beliefs, estimates and opinions on the date that statements are made and

reflect Almonty’s current expectations.

Forward-looking statements are subject to known and unknown risks,

uncertainties and other factors that may cause the actual results, level

of activity, performance or achievements of Almonty to be materially

different from those expressed or implied by such forward-looking

statements, including but not limited to: any specific risks relating to

fluctuations in the price of ammonium para tungstate from which the sale

price of Almonty’s tungsten concentrate is derived, actual results of

mining and exploration activities, environmental, economic and political

risks of the jurisdictions in which Almonty’s operations are located and

changes in project parameters as plans continue to be refined, forecasts

and assessments relating to Almonty’s business, credit and liquidity

risks, hedging risk, competition in the mining industry, risks related

to the market price of Almonty’s shares, the ability of Almonty to

retain key management employees or procure the services of skilled and

experienced personnel, risks related to claims and legal proceedings

against Almonty and any of its operating mines, risks relating to

unknown defects and impairments, risks related to the adequacy of

internal control over financial reporting, risks related to governmental

regulations, including environmental regulations, risks related to

international operations of Almonty, risks relating to exploration,

development and operations at Almonty’s tungsten mines, the ability of

Almonty to obtain and maintain necessary permits, the ability of Almonty

to comply with applicable laws, regulations and permitting requirements,

lack of suitable infrastructure and employees to support Almonty’s

mining operations, uncertainty in the accuracy of mineral reserves and

mineral resources estimates, production estimates from Almonty’s mining

operations, inability to replace and expand mineral reserves,

uncertainties related to title and indigenous rights with respect to

mineral properties owned directly or indirectly by Almonty, the ability

of Almonty to obtain adequate financing, the ability of Almonty to

complete permitting, construction, development and expansion, challenges

related to global financial conditions, risks related to future sales or

issuance of equity securities, differences in the interpretation or

application of tax laws and regulations or accounting policies and rules

and acceptance of the TSX-V of the listing of Almonty shares on the

TSX-V.

Forward-looking statements are based on assumptions management

believes to be reasonable, including but not limited to, no material

adverse change in the market price of ammonium para tungstate, the

continuing ability to fund or obtain funding for outstanding

commitments, expectations regarding the resolution of legal and tax

matters, no negative change to applicable laws, the ability to secure

local contractors, employees and assistance as and when required and on

reasonable terms, and such other assumptions and factors as are set out

herein. Although Almonty has attempted to identify important factors

that could cause actual results, level of activity, performance or

achievements to differ materially from those contained in

forward-looking statements, there may be other factors that cause

results, level of activity, performance or achievements not to be as

anticipated, estimated or intended. There can be no assurance that

forward-looking statements will prove to be accurate and even if events

or results described in the forward-looking statements are realized or

substantially realized, there can be no assurance that they will have

the expected consequences to, or effects on, Almonty. Accordingly,

readers should not place undue reliance on forward-looking statements

and are cautioned that actual outcomes may vary.

Investors are cautioned against attributing undue certainty to

forward-looking statements. Almonty cautions that the foregoing list of

material factors is not exhaustive. When relying on Almonty’s

forward-looking statements and information to make decisions, investors

and others should carefully consider the foregoing factors and other

uncertainties and potential events.

Almonty has also assumed that material factors will not cause any

forward-looking statements and information to differ materially from

actual results or events. However, the list of these factors is not

exhaustive and is subject to change and there can be no assurance that

such assumptions will reflect the actual outcome of such items or

factors.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE

REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS PRESS

RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS

SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND

SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE

ALMONTY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION

AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE

LAWS.

Be the first to comment - What do you think?  Posted by admin - May 20, 2017 at 8:45 pm

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Leading Utilities in the Meter Data Management System Market Are Investing in Major Systems Upgrades, According to Navigant Research | Business Wire

BOULDER, Colo.–(BUSINESS WIRE)–A recent report from Navigant

Research examines the strategy and execution of 11 leading meter

data management systems (MDMSs) vendors, providing industry participants

with an objective assessment of these companies’ relative strengths and

weaknesses in the global MDMS market.

The global market for MDM solutions has diversified as established

competitors and new entrants offer more comprehensive and complex

solutions. Recently, utilities have placed new demands upon their MDMSs,

stretching capabilities to work across diverse utility systems and

support applications beyond the traditional meter-to-cash and customer

information system (CIS) functions. Click

to tweet: According to a recent report from @NavigantRSRCH,

leading utilities in the MDMS market are investing in major systems

upgrades.

“The market for utility data management and analytics is growing faster

than ever, with a number of new competitors positioning themselves as

providers of MDMSs to some degree,” says Paige Leuschner, research

analyst with Navigant Research. “Itron’s upcoming innovations and

upgrades will bring new technologies and capabilities to the market, and

this has the potential to revolutionize its already comprehensive MDM

solution.”

Landis+Gyr, Oracle, and Siemens (eMeter) are all in close pursuit of

Itron, according to the report. With strong grasps on the market,

millions of managed smart meter deployments, and forward-looking MDM

solutions, any one of these players has the potential to take the top

spot.

The report, Navigant

Research Leaderboard Report: Meter Data Management Systems,

examines the strategy and execution of 11 vendors that offer MDMSs and

rates them on 12 criteria. Each company considered in this report has a

solid offering with core MDMS capabilities. Vendors are differentiated

by additional platform features, MDMS customers, international marketing

and sales, and the vision, strategy, and roadmap for their MDM solution.

Using Navigant Research’s proprietary Leaderboard methodology, vendors

are profiled, rated, and ranked with the goal of providing industry

participants with an objective assessment of these companies’ relative

strengths and weaknesses in the global MDMS market. An Executive Summary

of the report is available for free download on the Navigant

Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides

market research and benchmarking services for rapidly changing and often

highly regulated industries. In the energy sector, Navigant Research

focuses on in-depth analysis and reporting about global clean technology

markets. The team’s research methodology combines supply-side industry

analysis, end-user primary research and demand assessment, and deep

examination of technology trends to provide a comprehensive view of the

Energy Technologies, Utility Transformations, Transportation

Efficiencies, and Buildings Innovations sectors. Additional information

about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services

firm that helps clients take control of their future. Navigant’s

professionals apply deep industry knowledge, substantive technical

expertise, and an enterprising approach to help clients build, manage

and/or protect their business interests. With a focus on markets and

clients facing transformational change and significant regulatory or

legal pressures, the Firm primarily serves clients in the healthcare,

energy and financial services industries. Across a range of advisory,

consulting, outsourcing, and technology/analytics services, Navigant’s

practitioners bring sharp insight that pinpoints opportunities and

delivers powerful results. More information about Navigant can be found

at navigant.com.

* The information contained in this press release concerning the

report, Navigant Research Leaderboard Report: Meter Data Management

Systems, is a summary and reflects Navigant Research’s current

expectations based on market data and trend analysis. Market predictions

and expectations are inherently uncertain and actual results may differ

materially from those contained in this press release or the report.

Please refer to the full report for a complete understanding of the

assumptions underlying the report’s conclusions and the methodologies

used to create the report. Neither Navigant Research nor Navigant

undertakes any obligation to update any of the information contained in

this press release or the report.

Be the first to comment - What do you think?  Posted by admin - April 21, 2017 at 6:29 am

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Utility Involvement in the Emerging U.S. Residential Energy Storage Market is Expected to Be Crucial to Further Growth, According to Navigant Research | Business Wire

BOULDER, Colo.–(BUSINESS WIRE)–A new slide-based report from Navigant

Research analyzes the U.S. residential energy storage (RES) market,

focusing on the value these systems can provide customers and grid

operators, as well as on collaborations between utilities and leading

vendors, with system cost projections and adoption forecasts provided

through 2025.

Momentum in the RES market is increasingly rapidly thanks to a growing

residential solar PV industry, falling system costs, the need to improve

resilience, and the desire to use clean and locally generated

electricity. RES systems have the potential to alter the electricity

industry in terms of the grid’s physical structure, as well as business

models and utilities’ relationships with their customers. Click

to tweet: According to a new report from @NavigantRSRCH,

the involvement of utilities in the emerging RES market may prove to be

the catalyst that unlocks the value of the technology for both customers

and grid operators.

“Residential storage offers numerous benefits for utilities and grid

operators, perhaps most notably the ability to reduce congestion on the

network and limit the need for peak capacity resources,” says Alex

Eller, research analyst at Navigant Research. “These systems can also be

the solution to many issues grid operators face from high levels of

solar PV penetration.”

Despite showing potential, the RES industry is very much a developing

market, and the economics still do not justify the high upfront cost for

installing these systems, according to the report. Collaborations

between utilities and residential system providers have been one of the

key factors in the industry’s growth to date, and utility involvement is

expected to be crucial to further growth in the U.S. market.

The report, Residential

Energy Storage Systems, examines the RES market in the United

States. The report focuses on the value these systems can provide both

customers and grid operators, as well as on collaborations between

utilities and leading vendors. System cost projections and adoption

forecasts are provided through 2025. Featuring Navigant Research’s

Utility Technology Disruption Matrix and Execution Grid, the report also

examines implications for traditional utility business models, provides

utility case studies, and offers strategic recommendations for industry

stakeholders to position for long-term success. An Executive Summary of

the report is available for free download on the Navigant

Research website.

This report is part of a Navigant Research series called Utility

Technology Disruption, which highlights new technologies that can pose

both threats and opportunities to utilities and provides insights into

new business models for utilities to take advantage of these disruptions.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides

market research and benchmarking services for rapidly changing and often

highly regulated industries. In the energy sector, Navigant Research

focuses on in-depth analysis and reporting about global clean technology

markets. The team’s research methodology combines supply-side industry

analysis, end-user primary research and demand assessment, and deep

examination of technology trends to provide a comprehensive view of the

Energy Technologies, Utility Transformations, Transportation

Efficiencies, and Buildings Innovations sectors. Additional information

about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services

firm that helps clients take control of their future. Navigant’s

professionals apply deep industry knowledge, substantive technical

expertise, and an enterprising approach to help clients build, manage

and/or protect their business interests. With a focus on markets and

clients facing transformational change and significant regulatory or

legal pressures, the Firm primarily serves clients in the healthcare,

energy and financial services industries. Across a range of advisory,

consulting, outsourcing, and technology/analytics services, Navigant’s

practitioners bring sharp insight that pinpoints opportunities and

delivers powerful results. More information about Navigant can be found

at navigant.com.

* The information contained in this press release concerning the

report, Residential Energy Storage Systems, is a summary and

reflects Navigant Research’s current expectations based on market data

and trend analysis. Market predictions and expectations are inherently

uncertain and actual results may differ materially from those contained

in this press release or the report. Please refer to the full report for

a complete understanding of the assumptions underlying the report’s

conclusions and the methodologies used to create the report. Neither

Navigant Research nor Navigant undertakes any obligation to update any

of the information contained in this press release or the report.

Be the first to comment - What do you think?  Posted by admin - April 9, 2017 at 10:12 am

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SES Confirms Commitment to 5G Development and Manifesto | Business Wire

LUXEMBOURG–(BUSINESS WIRE)–SES S.A. (Euronext Paris:SESG) (LuxX:SESG) announced today its

endorsement of the “5G Manifesto for Timely Deployment of 5G in Europe”.

The document and industry recommendations on 5G will be discussed at the

meeting of the European Commissioner Günther H. Oettinger with the CEOs

of the leading telecommunications and infrastructure companies in

Brussels. The 5G Manifestointends to foster effective

interactions and collaboration with industry verticals, the formation of

ecosystems as a result of large-scale demonstrators and an

investment-centric policy framework – bringing together the key levers

to ensure European digital leadership in 5G and beyond.

“SES strongly believes in Europe’s potential to become the global leader

in 5G, permitting the enablement of economic growth, sustainability and

high-quality jobs. Synergy of the key stakeholders is essential for

successful deployment of 5G, and satellite is a key building block for a

global, profitable and inclusive 5G deployment. Thus communication

satellites will play a core role in the deployment and accessibility of

5G,” said Karim Michel Sabbagh, President and CEO of SES. “Being a

founding member of the European 5G Public Private Partnership and one of

the main contributors of the industry effort to define a 5G Action Plan,

today we further confirm our willingness to support the coordinated

deployment of this advanced connectivity infrastructure.”

Ahead of the meeting, Günther H. Oettinger, Commissioner for the Digital

Economy and Society, said, “I very much welcome the 5G Manifesto and

discussions today with the high-level industry group. These will help us

focus on the key levers to ensure European digital leadership in 5G. I

will come forward with a 5G Action Plan in the autumn.”

Once deployed, 5G will be the key enabler for the digitalisation of the

European economy, accommodating the diverse connectivity needs of

industrial applications such as high speed, low latency, resilience and

ubiquity. 5G networks will serve a broad range of industries, especially

the automotive, transportation, healthcare, energy, manufacturing and

media and entertainment sectors.

To provide further global and scalable next generation connectivity, SES

has invested in high throughput Geosynchronous Earth Orbit (GEO)

satellites and O3b’s Medium Earth Orbit (MEO) satellites. The

combination of GEO’s high-powered global coverage and MEO’s low latency

capabilities will accelerate the 5G deployment.

Full text of the 5G Manifesto and more information available under:

http://ec.europa.eu/newsroom/dae/document.cfm?action=display&doc_id=16579

Read

5G PPP whitepaper “5G and Media & Entertainment”

Read

5G press release “SES Strongly Advocates and Supports Future 5G

Deployment in Europe”

Read

5G PPP press release “5G key to revolutionizing industry and society”

Read

5G PPP brochure “5G empowering vertical industries”

Follow us on:

Twitter: https://twitter.com/SES_Satellites

Facebook: https://www.facebook.com/SES.YourSatelliteCompany

YouTube: http://www.youtube.com/SESVideoChannel

Blog: http://www.ses.com/blog

SES Pictures are available under http://www.ses.com/21472913/Our_Pictures

SES White papers are available under http://www.ses.com/18681915/white-papers

About SES

SES (Euronext Paris:SESG) (LuxX:SESG) is the world-leading satellite

operator with a fleet of more than 50 geostationary satellites. Focusing

on value-added, end-to-end solutions in four key market verticals

(video, enterprise, mobility and government), SES provides satellite

communications services to broadcasters, content and internet service

providers, and mobile and fixed network operators, as well as business

and governmental organisations worldwide. SES stands for long-lasting

business relationships, high-quality service and excellence in the

satellite industry. The culturally diverse regional teams of SES are

located around the globe and work closely with customers to meet their

specific satellite bandwidth and service requirements.

SES’s newest subsidiary, MX1, is one of the leading media service

providers and offers a full suite of innovative digital video and media

services. Augmented by SES’s stake in O3b Networks, a next generation

satellite network combining the reach of satellite with the speed of

fibre, SES significantly enhances and scales up existing video and data

capabilities.

Further information available at: www.ses.com.

Be the first to comment - What do you think?  Posted by admin - March 29, 2017 at 8:45 pm

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