Toronto Raptors coach Nick Nurse has been waiting for rookie Malachi Flynn to show his offensive prowess and he got an abundance of it against the Wizards.
Toronto Raptors coach Nick Nurse has been waiting for rookie Malachi Flynn to show his offensive prowess and he got an abundance of it against the Wizards.
The Biden administration has taken the first step toward ending an emergency exception that allowed hospitals to ration and reuse N95 medical masks, the first line of defense between frontline workers and the deadly coronavirus. Critical shortages of masks, gowns, swabs, and other medical supplies prompted the Trump administration to issue guidelines for providers to ration, clean, and reuse disposable equipment. Thus, throughout the pandemic, once a week many doctors and nurses were issued an N95 mask, which is normally designed to be tossed after each patient.
PD-1 Antagonist Antibody Under Clinical Development for Solid Tumors in Collaboration with GlaxoSmithKline (GSK)First AnaptysBio-Generated Antibody, of 8 Currently Under Clinical Development, to Obtain Regulatory Approval in Europe$10MM Milestone Payment Earned by AnaptysBio Upon EC Approval; Additional $35MM and $165MM Milestones Due Upon Dostarlimab Regulatory and Commercial Milestones, RespectivelyAnaptysBio Due to Receive 8% to 25% Royalty on Global Net Sales of Dostarlimab SAN DIEGO, April 23, 2021 (GLOBE NEWSWIRE) -- AnaptysBio, Inc. (Nasdaq: ANAB), a clinical-stage biotechnology company developing first-in-class antibody product candidates focused on emerging immune control mechanisms applicable to inflammation and immuno-oncology indications, today announced that the European Commission has granted conditional marketing authorization for JEMPERLI (dostarlimab) for use in women with mismatch repair deficient (dMMR)/microsatellite instability-high (MSI-H) recurrent or advanced endometrial cancer who have progressed on or following prior treatment with a platinum containing regimen. The approval makes dostarlimab the first anti-PD-1 therapy available for endometrial cancer in Europe. JEMPERLI was generated by AnaptysBio using its proprietary somatic hypermutation (SHM) antibody platform and subsequently developed by TESARO, Inc., now a part of GSK, under a collaboration agreement. Eight AnaptysBio-generated therapeutic antibodies have advanced into clinical development to date, and JEMPERLI is the first AnaptysBio-generated antibody to obtain regulatory approval. “We are delighted that JEMPERLI is the first AnaptysBio-generated antibody to be approved in Europe and look forward to meaningful potential future milestone and royalty revenue from our collaboration with GSK,” said Hamza Suria, president and chief executive officer of AnaptysBio. “These revenues will continue to support AnaptysBio’s primary value-creation strategy, which is focused on advancing wholly-owned first-in-class therapeutic antibodies through multiple upcoming clinical catalysts in 2021 and 2022.” JEMPERLI is indicated as a monotherapy for treatment of adult patients with recurrent or advanced dMMR/MSI-H endometrial cancer, who have progressed on, or are being dosed following, prior treatment with a platinum-containing regimen, and is the first indication approved by the European Commission for JEMPERLI. AnaptysBio has earned a $10.0 million milestone payment as a result of this approval. Earlier this month, AnaptysBio earned a $20.0 million milestone payment as a result of approval by the U.S. Food and Drug Administration for JEMPERLI in endometrial cancer. In 2020, AnaptysBio received milestone payments of $10.0 million and $5.0 million for the FDA’s and EMA’s acceptances of the BLA and Marketing Authorisation Application (MAA) filings for JEMPERLI, respectively. Earlier this year, FDA accepted a subsequent BLA filing for JEMPERLI for the treatment of adult patients with dMMR recurrent or advanced solid tumors who have progressed on or following prior treatment. AnaptysBio recently received a $10.0 million payment from GSK as a result of this milestone. Payments totaling an additional $35 million will be due to AnaptysBio upon the achievement of future regulatory milestones for JEMPERLI in the United States and Europe. Furthermore, $165 million in sales milestones are due to AnaptysBio upon achievement of certain annual JEMPERLI net sales revenues. Royalties due to AnaptysBio for dostarlimab range from 8% to 25% of global net sales, where AnaptysBio will receive 8% of annual global net sales below $1 billion, and 12-25% of net sales above $1 billion. JEMPERLI is also being developed by GSK for the treatment of other tumor types and treatment settings, including currently ongoing phase III trials in recurrent or primary advanced endometrial cancer in combination with chemotherapy standard of care (RUBY) and the phase III FIRST study of platinum-based therapy with dostarlimab and niraparib versus standard of care platinum-based therapy as first-line treatment of stage III or IV non-mucinous epithelial ovarian cancer. In addition, JEMPERLI is being evaluated as monotherapy and in combination therapy across multiple tumor types and other cancers, including platinum-resistant ovarian cancer, non-small cell lung cancer, multiple myeloma and melanoma. GSK continues to develop additional antibodies partnered with AnaptysBio, including cobolimab, an AnaptysBio-generated anti-TIM-3 antagonist antibody, and GSK4074386, an anti-LAG-3 antagonist antibody. Under the terms of the collaboration, AnaptysBio is due to receive development and regulatory milestone payments for each of the first two indications for each of these antibodies. AnaptysBio can potentially receive a total of $1.1 billion in aggregate milestone payments under this collaboration. In addition, AnaptysBio will receive royalties ranging from 4% to 8% on global net sales of cobolimab and GSK4074386 and 1% of GSK’s global net sales of ZEJULATM. Important Information for JEMPERLI in the EU IndicationJEMPERLI is indicated as monotherapy for the treatment of adult patients with mismatch repair deficient (dMMR)/microsatellite instability-high (MSI-H) recurrent or advanced endometrial cancer (EC) that has progressed on or following prior treatment with a platinum-containing regimen. Immune-Mediated Adverse Reactions Immune-related adverse reactions, which may be severe or fatal, can occur in patients treated with antibodies blocking the programmed cell death protein-1 / programmed death-ligand 1 (PD-1/PD-L1) pathway, including JEMPERLI. While immune-related adverse reactions usually occur during treatment with PD-1/PD-L1 blocking antibodies, symptoms can also manifest after discontinuation of treatment. Immune-related adverse reactions may occur in any organ or tissue and may affect more than one body system simultaneously. Important immune-related adverse reactions listed in this section are not inclusive of all possible severe and fatal immune-related reactions. Early identification and management of immune-related adverse reactions are essential to ensure safe use of PD-1/PD-L1 blocking antibodies. Patients should be monitored for symptoms and signs of immune-related adverse reactions. Clinical chemistries, including liver tests and thyroid function tests, should be evaluated at baseline and periodically during treatment. For suspected immune-related adverse reactions, adequate evaluation including specialty consultation should be ensured. Based on the severity of the adverse reaction, treatment with JEMPERLI should be withheld or permanently discontinued and corticosteroids (1 to 2 mg/kg/day prednisone or equivalent) or other appropriate therapy administered. Upon improvement to Grade ≤1, corticosteroid taper should be initiated and continued for 1 month or longer. Based on limited data from clinical studies in patients whose immune-related adverse reactions could not be controlled with corticosteroid use, administration of other systemic immunosuppressants can be considered. Hormone replacement therapy for endocrinopathies should be instituted as warranted. Treatment with JEMPERLI should be permanently discontinued for any Grade 3 immune-related adverse reaction that recurs and for any Grade 4 immune-related adverse reaction toxicity, except for endocrinopathies that are controlled with replacement hormones and unless otherwise specified in the Summary of Product Characteristics (SmPC). Immune-Related Pneumonitis Pneumonitis has been reported in patients receiving JEMPERLI. Patients should be monitored for signs and symptoms of pneumonitis. Suspected pneumonitis should be confirmed with radiographic imaging and other causes excluded. Patients should be managed with JEMPERLI treatment modifications and corticosteroids. Immune-related pneumonitis occurred in 7 (1.4%) of 515 patients, including Grade 2 (1.2%) and Grade 3 (0.2%) pneumonitis. Pneumonitis led to discontinuation of JEMPERLI in 3 (0.6%) patients. Systemic corticosteroids (prednisone ≥ 40 mg per day or equivalent) were required in all 7 patients experiencing pneumonitis. Pneumonitis resolved in 6 (85.7%) patients. Immune-Related ColitisJEMPERLI can cause immune-related colitis. Patients should be monitored for signs and symptoms of colitis and managed with treatment modifications, anti-diarrhoeal agents and corticosteroids. Colitis occurred in 8 (1.6%) patients, including Grade 2 (1.0%) and Grade 3 (0.6%) colitis. Colitis did not lead to discontinuation of JEMPERLI in any patients. Systemic corticosteroids (prednisone ≥ 40 mg per day or equivalent) were required in 2 (28.6%) patients. Colitis resolved in 6 (75.0%) patients experiencing colitis. Immune-Related HepatitisJEMPERLI can cause immune-related hepatitis. Patients should be monitored for changes in liver function periodically as indicated, based on clinical evaluation and managed with JEMPERLI treatment modifications and corticosteroids. Hepatitis occurred in 1 (0.2%) patient, which was Grade 3. Systemic corticosteroids (prednisone ≥ 40 mg per day or equivalent) were required. Hepatitis did not lead to discontinuation of JEMPERLI and resolved. Immune-Mediated Endocrinopathies Hypothyroidism occurred in 37 (7.2%) patients, all of which were Grade 2. Hypothyroidism did not lead to discontinuation of JEMPERLI and resolved in 13 (35.1%) patients. Hyperthyroidism occurred in 10 (1.9%) patients, including Grade 2 (1.7%) and Grade 3 (0.2%). Hyperthyroidism did not lead to discontinuation of JEMPERLI and resolved in 8 (80%) patients. Thyroiditis occurred in 2 (0.4%) patients; both were Grade 2. Neither event of thyroiditis resolved; there were no discontinuations of JEMPERLI due to thyroiditis. Adrenal insufficiency occurred in 7 (1.4%) patients, including Grade 2 (0.8%), and Grade 3 (0.6%). Adrenal insufficiency resulted in discontinuation of JEMPERLI in 1 (0.2%) patient and resolved in 2 (28.6%) patients. Immune-Mediated Nephritis Nephritis, including tubulointerstitial nephritis, occurred in 3 (0.6%) patients; all were Grade 2. Systemic corticosteroids (prednisone ≥ 40 mg per day or equivalent) were required in 2 (66.7%) patients experiencing nephritis. Nephritis led to discontinuation of JEMPERLI in 1 (0.2%) patient and resolved in 2 of 3 (66.7%) patients. Immune-Related RashImmune-related rash occurred in 17 (3.3%) patients, including Grade 3 in 6 (1.2%) patients receiving JEMPERLI. The median time to onset of rash was 41 days (range 2 days to 407 days). Systemic corticosteroids (prednisone ≥ 40 mg per day or equivalent) were required in 5 (29%) patients experiencing rash. Rash did not lead to discontinuation of JEMPERLI and resolved in 13 (76.5%) patients. Immune-Related ArthralgiaImmune-related arthralgia occurred in 21 (4.1%) patients. Grade 3 immune-related arthralgia was reported in 3 (0.6%) patients receiving JEMPERLI. The median time to onset of arthralgia was 87 days (range 1 day to 783 days). Systemic corticosteroids (prednisone ≥ 40 mg per day or equivalent) were required in 2 (9.5%) patients experiencing arthralgia. Arthralgia did not lead to discontinuation of JEMPERLI and resolved in 8 (38%) patients experiencing arthralgia. Other Immune-Related Adverse ReactionsGiven the mechanism of action of JEMPERLI other potential immune-related adverse reactions may occur, including potentially serious events [e.g. myositis, myocarditis, encephalitis, demyelinating neuropathy (including Guillain Barré syndrome), sarcoidosis]. Clinically significant immune-related adverse reactions reported in less than 1% of patients treated with JEMPERLI as monotherapy in clinical studies include autoimmune haemolytic anaemia, pancreatitis, iridocyclitis, uveitis and diabetic ketoacidosis. Patients should be monitored for signs and symptoms of immune-related adverse reactions and managed as described in the SmPC. Solid organ transplant rejection has been reported in the post-marketing setting in patients treated with PD-1 inhibitors. Treatment with JEMPERLI may increase the risk of rejection in solid organ transplant recipients. The benefit of treatment with JEMPERLI versus the risk of possible organ rejection should be considered in these patients. Fatal and other serious complications can occur in patients who receive allogeneic haematopoietic stem cell transplantation (HSCT) before or after being treated with a PD-1/PD-L1–blocking antibody. Transplant-related complications include hyperacute graft-versus-host disease (GvHD), acute GvHD, chronic GvHD, hepatic veno-occlusive disease after reduced intensity conditioning, and steroid-requiring febrile syndrome (without an identified infectious cause). These complications may occur despite intervening therapy between PD-1/PD-L1 blockade and allogeneic HSCT. Follow patients closely for evidence of transplant-related complications and intervene promptly. Consider the benefit versus risks of treatment with a PD-1/PD-L1–blocking antibody prior to or after an allogeneic HSCT. Infusion-Related Reactions Infusion-related reactions including hypersensitivity occurred in 7 (1.4%) patients, including Grade 2 (1.2%) and Grade 3 (0.2%) infusion-related reactions. All patients recovered from the infusion-related reaction. ImmunogenicityAnti-drug antibodies (ADA) were tested in 315 patients who received JEMPERLI and the incidence of JEMPERLI treatment-emergent ADAs was 2.5%. Neutralising antibodies were detected in 1.3% of patients. In the patients who developed anti-JEMPERLI antibodies, there was no evidence of altered efficacy or safety of JEMPERLI. Elderly populationOf the 515 patients treated with JEMPERLI monotherapy, 50.7% were under 65 years, 37.9% were 65-75 years, and 11.5% were 75 years or older. No overall differences in safety were reported between elderly (≥ 65 years) and younger patients (< 65 years). Pregnancy, Lactation and FertilityJEMPERLI is not recommended during pregnancy and in women of childbearing potential not using contraception. JEMPERLI should not be used during breast-feeding and breast-feeding should be avoided for at least 4 months after the last dose of JEMPERLI. Fertility studies have not been conducted with JEMPERLI. COMMON ADVERSE REACTIONSJEMPERLI is most commonly associated with immune-related adverse reactions. Most of these, including severe reactions, resolved following initiation of appropriate medical therapy or withdrawal of JEMPERLI. In patients with advanced or recurrent solid tumours (N = 515), the most common adverse reactions (> 10%) were anaemia (25.6%), nausea (25.0%), diarrhoea (22.5%), vomiting (18.4%), arthralgia (13.8%), pruritus (11.5%), rash (11.1%), pyrexia (10.5%) and hypothyroidism (10.1%). JEMPERLI was permanently discontinued due to adverse reactions in 17 (3.3%) patients; most of them were immune-related events. Adverse reactions were serious in 8.7% of patients; most serious adverse reactions were immune-related adverse reactions. Refer to the JEMPERLI Prescribing Information for a full list of adverse events and the complete important safety information. About AnaptysBio AnaptysBio is a clinical-stage biotechnology company developing first-in-class antibody product candidates focused on unmet medical needs in inflammation. The Company’s proprietary anti-inflammatory pipeline includes imsidolimab, its anti-IL-36R antibody, previously referred to as ANB019, for the treatment of dermatological inflammatory diseases, including generalized pustular psoriasis, or GPP, EGFRi skin toxicity, ichthyosis, hidradenitis suppurativa and acne; its anti-PD-1 agonist program, ANB030, for treatment of certain autoimmune diseases where immune checkpoint receptors are insufficiently activated; and its BTLA modulator program, ANB032, which is broadly applicable to human inflammatory diseases associated with lymphoid and myeloid immune cell dysregulation. AnaptysBio’s antibody pipeline has been developed using its proprietary somatic hypermutation, or SHM platform, which uses in vitro SHM for antibody discovery and is designed to replicate key features of the human immune system to overcome the limitations of competing antibody discovery technologies. AnaptysBio has also developed multiple therapeutic antibodies in an immuno-oncology collaboration with GSK, including an anti-PD-1 antagonist antibody (JEMPERLI (dostarlimab-gxly) GSK4057190), an anti-TIM-3 antagonist antibody (cobolimab, GSK4069889) and an anti-LAG-3 antagonist antibody (GSK4074386), and an inflammation collaboration with Bristol-Myers Squibb, including an anti-PD-1 checkpoint agonist antibody (CC-90006) currently in clinical development. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to: the milestones and royalty payments to be received under the GSK partnership and the timing of the release of data from our clinical trials. Statements including words such as “plan,” “continue,” “expect,” or “ongoing” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to risks and uncertainties that may cause the company’s actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties related to the company’s ability to advance its product candidates, obtain regulatory approval of and ultimately commercialize its product candidates, the timing and results of preclinical and clinical trials, the company’s ability to fund development activities and achieve development goals, the company’s ability to protect intellectual property and other risks and uncertainties described under the heading “Risk Factors” in documents the company files from time to time with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release, and the company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof. Contact:Dennis MulroyAnaptysBio, Inc.firstname.lastname@example.org
CLEVELAND — The Browns exercised the fifth-year option on quarterback Baker Mayfield's rookie contract on Friday, an expected move after his strong 2020 season. The team did the same with top cornerback Denzel Ward's contract. Mayfield had 30 touchdown passes last season and led the Browns to their first playoff appearance in nearly 20 years. Cleveland won its first post-season game since 1994, beating the Pittsburgh Steelers in the wild-card round before losing to Kansas City. The team had until May 3 to exercise the option, which means Mayfield, who was the No. 1 overall draft pick in 2018, is under contract for 2021 and 2022 — and those deals are guaranteed. The Browns may soon discuss a long-term extension with Mayfield, who has shown major growth on and off the field during his three seasons with Cleveland, easing concerns last year about whether he was their long-term solution at QB. Ward was drafted three picks after the Browns selected Mayfield three years ago. The former Ohio State standout has developed into one of the NFL's better coverage cornerbacks. Ward, who made the Pro Bowl as a rookie, has seven interceptions in three seasons. ___ More AP NFL coverage: https://apnews.com/hub/NFL and https://twitter.com/AP_NFL Tom Withers, The Associated Press
Applicant Tracking Systems Market In US 2021-2025. The analyst has been monitoring the applicant tracking systems market in the US and it is poised to grow by $ 138. 06 mn during 2021-2025, progressing at a CAGR of almost 7% during the forecast period.New York, April 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Applicant Tracking Systems Market in US 2021-2025" - https://www.reportlinker.com/p03793938/?utm_source=GNW Our report on applicant tracking systems market in the US provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.The report offers an up-to-date analysis regarding the current us market scenario, latest trends and drivers, and the overall market environment. The market is driven by cost-effective and less time-consuming services and increasing enrollment of foreign students. In addition, cost-effective and less time-consuming service is anticipated to boost the growth of the market as well.The applicant tracking systems market in US analysis includes end-user segment and deployment segment.The applicant tracking systems market in the US is segmented as below:By End-User• Technology• Healthcare• Financial services• Retail• OthersBy Deployment• Cloud-based• On-premisesThis study identifies the growing emphasis on streamlining HR functions as one of the prime reasons driving the applicant tracking systems market in US growth during the next few years.The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on applicant tracking systems market in the US covers the following areas:• Applicant tracking systems market in US sizing• Applicant tracking systems market in US forecast• Applicant tracking systems market in US industry analysisThis robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading applicant tracking systems market in US vendors that include Bullhorn Inc., ClearCompany Inc., Cornerstone OnDemand Inc., Greenhouse Software Inc., iCIMS Inc., International Business Machines Corp., JobDiva Inc., Oracle Corp., SwipeClock LLC, and Symphony Talent LLC. Also, the applicant tracking systems market in the US analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio’s market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.Read the full report: https://www.reportlinker.com/p03793938/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________ CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001
GrandVision's Annual General Meeting (AGM) 2021 adopts all resolutionsSchiphol, the Netherlands - 23 April 2021. GrandVision N.V. (Euronext: GVNV) announced today that its Annual General Meeting (AGM) has approved all resolutions on the agenda of the AGM. The adopted resolutions are listed below:• Adoption of the Annual Accounts for the financial year 2020 as drawn up by the Management Board and signed by the Managing Directors and the Supervisory Directors on 25 February 2021• Advisory vote on the approval of the remuneration report 2020• Proposal on dividend distribution for the financial year 2019 of EUR 0.35 per share• Discharge of Managing Directors for their management during the financial year 2020• Discharge of Supervisory Directors for their supervision of management during the financial year 2020• Re-appointment of Mr. P. Bolliger as Supervisory Board Director• Re-appointment of Mr. J. Cole as Supervisory Board Director• Appointment of PricewaterhouseCoopers Accountants N.V. as external auditor for financial year 2022• Authorization of Supervisory Board to issue shares or grant rights to acquire shares• Authorization of Supervisory Board to restrict or exclude pre-emptive rights• Authorization of Management Board to repurchase shares. Attachment GrandVision AGM 2021 Press Release
UK DISCLOSURE, April 23, 2021 (GLOBE NEWSWIRE) -- PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORERule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Identity of the person whose positions/dealings are being disclosed:Glazer Capital LLC(b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficientNA(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offereeSignature Aviation plc(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:NA(e) Date position held/dealing undertaken:April 22, 2021(f) Has the discloser previously disclosed, or are they today disclosing, under the Code in respect of any other party to this offer?NO 2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any) Class of relevant security: 37p ordinary InterestsShort positionsNumber%Number%(1) Relevant securities owned and/or controlled: (2) Derivatives (other than options): 19,954,086 2.41% (3) Options and agreements to purchase/sell: TOTAL: 19,954,086 2.41% All interests and all short positions should be disclosed. Details of any open derivative or option positions, or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions). (b) Rights to subscribe for new securities (including directors’ and other executive options) Class of relevant security in relation to which subscription right exists: Details, including nature of the rights concerned and relevant percentages: If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security. 3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE (a) Purchases and sales Class of relevant securityPurchase/sale Number of securitiesPrice per unit (b) Derivatives transactions (other than options) Class of relevant securityProduct description e.g. CFDNature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short positionNumber of reference securitiesPrice per unit37p ordinaryCFDIncreasing Long Position29,4085.58 USD37p ordinaryCFDIncreasing Long Position800,0005.58 USD (c) Options transactions in respect of existing securities (i) Writing, selling, purchasing or varying Class of relevant securityProduct description e.g. call optionWriting, purchasing, selling, varying etc.Number of securities to which option relatesExercise price per unitType e.g. American, European etc.Expiry dateOption money paid/ received per unit (ii) Exercising Class of relevant securityProduct description e.g. call optionNumber of securitiesExercise price per unit (d) Other dealings (including subscribing for new securities) Class of relevant securityNature of dealing e.g. subscription, conversionDetailsPrice per unit (if applicable) The currency of all prices and other monetary amounts should be stated. Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in. 4. OTHER INFORMATION (a) Indemnity and other dealing arrangements Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: If there are no such agreements, arrangements or understandings, state “none” None (b) Agreements, arrangements or understandings relating to options or derivatives Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state “none” None (c) Attachments Is a Supplemental Form 8 (Open Positions) attached?NO Date of disclosure:April 23, 2021Contact name:Megan SinclairTelephone number:212-808-7302 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at firstname.lastname@example.org. The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s dealing disclosure requirements on +44 (0)20 7638 0129. The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.
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NEW YORK, April 23, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Ebix, Inc. (“Ebix” or the “Company”)(NASDAQ: EBIX). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980. The investigation concerns whether Ebix and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On February 19, 2021, post-market, Ebix revealed that its independent auditor, RSM US LLP (“RSM”), had resigned “as a result of being unable, despite repeated inquiries, to obtain sufficient appropriate audit evidence that would allow it to evaluate the business purpose of significant unusual transactions that occurred in the fourth quarter of 2020” related to the Company’s gift card business in India. RSM had also stated that there was a material weakness related to Ebix’s failure to design controls “over the gift or prepaid card revenue transaction cycle sufficient to prevent or detect a material misstatement.” Also, Ebix and RSM disagreed over the accounting treatment of $30 million that had been transferred into a commingled trust account of Ebix’s outside legal counsel in December 2020. On this news, Ebix’s stock price fell $20.24 per share, or 39.89%, to close at $30.50 per share on February 22, 2020. The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com. CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com
FORESIGHT 4 VCT PLCFinal Results23 April 2021 Foresight 4 VCT plc, managed by Foresight Group LLP, today announces the final results for the nine month period to 31 December 2020. These results were approved by the Board of Directors on 23 April 2021. The Annual Report will shortly be available in full at www.foresightgroup.eu. All other statutory information can also be found there. Summary Financial Highlights During the period, the Company changed its accounting reference date from 31 March to 31 December for operational efficiency reasons. The Annual Report and Accounts are for the nine month period from 1 April 2020 to 31 December 2020. Total net assets £120.4 million. Net Asset Value per share increased by 11.3% from 55.8p at 31 March 2020 to 62.1p at 31 December 2020. Including the payment of a 2.8p dividend made on 28 August 2020, NAV total return per share at 31 December 2020 was 64.9p, representing a positive total return of 16.3%. The portfolio has seen an increase in valuation of £19.7 million during the period. Three new investments totalling c.£4.6 million and three follow-on investments totalling c.£1.9 million were made during the period. The Company exited its investment in The Naked Deli Ltd realising a total of £0.1 million. A dividend of 2.8p per share was paid on 28 August 2020 based on an ex-dividend date of 13 August 2020 and a record date 14 August 2020. Chairman's statementI am pleased to present the audited Annual Report and Accounts for the nine-month period to 31 December 2020. As announced in January 2021 the Board and the Manager changed the accounting reference date to 31 December for operational efficiency reasons. MATERIAL EVENTS DURING THE PERIODBefore providing other details, I would like to draw attention to a material event that occurred during the period being the continuing impact of Covid-19 on the Company and its portfolio. The Covid-19 virus has presented the Company and the management of every one of its portfolio companies with unprecedented challenges which it is anticipated will persist for a considerable time to come. The Manager continues to work closely with the portfolio companies, attempting to minimise any adverse impact and it is a great credit to the quality of the management of the portfolio companies that the fallout from the pandemic has not been even more significant. Until this virus is brought under worldwide control, it is impossible to assess its full impact but challenges remain. However, it is already clear that the value of almost every business in the Company’s portfolio has been materially affected, a minority have benefitted but most have not. At the end of March 2020 the Company held eight investments, representing some 16% by value of its investment portfolio, in businesses involved in the travel, retail, entertainment and food and drink sectors. To date these sectors are amongst those most hard hit by the provisions of the lockdown imposed by the UK Government in response to the Covid-19 virus. I am pleased to report that all the Company’s investments in these sectors are continuing to trade and, with one possible exception, they are already pursuing revised business strategies which hold the potential for a return to commercial viability in the short to medium term. It will, however, be some time before the value of most of these businesses is again at or above their pre-Covid levels. The overall impact of the Covid pandemic could be seen in the material fall in the valuation of the Company’s portfolio at 31 March 2020. On a positive note, I can say that since March the trading position of many of these businesses has improved, resulting in a modest increase in portfolio value in the period to 31 December 2020. On behalf of the Board I would like to thank the Manager for the continued work alongside the management teams at each and every one of the companies within the portfolio. PERFORMANCE AND PORTFOLIO ACTIVITYDuring the period Net Asset Value per share increased by 11.3% from 55.8p at 31 March 2020 to 62.1p at 31 December 2020. Including the payment of a 2.8p dividend made on 28 August 2020, NAV total return per share at 31 December 2020 was 64.9p, representing a positive total return of 16.3%. This positive movement is a result of the strategy and business changes throughout the portfolio alluded to above. During the period under review the Manager completed three new investments and three follow-on investments costing £4.6 million and £1.9 million respectively. The Board and the Manager are confident that a number of new investments can be achieved in the year ahead, particularly with the increased investment activity in the three months to 31 December 2020, which accounts for all of the new and follow on investments noted above. Details of each of these new portfolio companies can be found in the Manager’s Review. Foresight Group LLP, the Company’s investment manager, continues to see a pipeline of potential investments sourced through its regional networks and well-developed relationships with advisors and the SME community, however, it is also focused on supporting the existing portfolio through the Covid-19 pandemic. Following both the successful fundraises launched in May 2017 and June 2018, the Company is in a position to fully support the portfolio, where appropriate, and exploit potential attractive investment opportunities. DIVIDENDS An interim dividend of 2.8p per Share was declared on 6 August 2020 based on an ex-dividend date of 13 August 2020 and a record date of 14 August 2020. The dividend was paid on 28 August 2020. As noted in the prior Annual Report and Accounts and in light of the change in portfolio towards earlier stage, higher risk companies, as required by the new VCT rules, the Board felt it prudent to adjust the dividend policy towards a targeted annual dividend yield of 5% of NAV per annum. The Board and the Manager hope that this may be enhanced by additional ‘special’ dividends as and when particularly successful portfolio exits are made. The impact of Covid-19 will be taken into consideration when the Board considers dividends in the near term. Post period end the Board announced the Company’s successful sale of FFX Group Limited, one of the UK’s largest independent suppliers of high-quality power tools, fixings and building supplies. The transaction generated proceeds of £5.7 million at completion and the Company will receive up to £0.2 million of deferred consideration after 18 months subject to certain conditions, indicating a cash on cash return of 4.3x the initial investment of £1.4 million made in October 2015. On the basis of this successful exit, it is the intention of the Board to enhance the interim dividend planned in May 2021, compared to the level of dividend paid in 2020. SHAREHOLDER COMMUNICATION As a result of the travel restrictions imposed due to Covid-19, the Manager’s popular investor forums have been temporarily put on hold. Once it is possible to do so, details of both a London event and regional events will be sent to shareholders resident in the locality as and when they are organised. The Manager held an investor webinar in August 2020 and it is the intention of the Manager to hold further webinars in June and October of this year. Details of any future events will be communicated to investors. BOARD COMPOSITIONThe Board continues to review its own performance and undertakes succession planning to maintain an appropriate level of independence, experience, diversity and skills in order to be in a position to discharge all its responsibilities. As noted in the Half-Year report, the Board are delighted to announce that Gaynor Coley was appointed to the Board on 10 September 2020 and as Chair of the Audit Committee on 19 November 2020. OUTLOOK The persisting uncertainty over the full impact of Covid-19 and the ongoing changes related to Brexit create truly exceptional challenges for every business. The Company invests primarily in developing companies which by their nature benefit from general economic growth and the current environment places considerable demands upon them and their management teams. The Manager’s private equity team is well aware of the management and business needs of each of the companies within the investment portfolio and is working closely with them to help them progress during these testing times. Until the pandemic is brought under worldwide control there will inevitably be further, mainly unhelpful, implications for many UK based businesses. Notwithstanding this, the Board and the Manager have been impressed by the resilience shown by the significant majority of the Company’s investments and are optimistic that the existing portfolio has potential to add value once the virus has been successfully contained. ANNUAL GENERAL MEETING The Company’s Annual General Meeting will take place on 7 July 2021 at 1.00pm. Please refer to the formal notice on page 74 of the Annual Report and Accounts for further details in relation to the format of this year’s meeting and the request to observe social distancing guidelines in place. Shareholders will note that it is proposed by resolution 11 to adopt new articles of association (“New Articles”). The key changes to the New Articles are to provide for the ability to hold virtual and hybrid general meetings. The Board wishes to note its preference is to hold AGMs by way of an open meeting and AGMs will only be held virtually where absolutely necessary. Raymond AbbottChairman23 April 2021 Manager's Review Portfolio Summary As at 31 December 2020 the Company’s portfolio comprised 36 investments with a total cost of £58.4 million and a valuation of £92.4 million. The portfolio is diversified by sector, transaction type and maturity profile. Details of the ten largest investments by valuation, including an update on their performance, are provided on pages 12 to 16 of the Annual Report and Accounts . During the period, the value of investments held rose by £26.2 million, driven by deployment of £6.5 million into new and follow-on investments and an increase in the value of existing investments of £19.7 million. After a sharp drop in portfolio value in the quarter to March 2020 at the peak of uncertainty around Covid-19, the Company’s portfolio, in aggregate, has seen a recovery, as many of the portfolio companies have successfully navigated the new economic landscape, with some performing extremely strongly and some heavily impacted by Covid-19. The investment team remain focused on supporting an annual dividend to shareholders of at least 5% of the NAV per share whilst retaining a stable NAV. The Company has made reasonable progress against these objectives in the period. NEW INVESTMENTS The Manager has taken a prudent approach to investing during 2020. Repeated lockdowns have made it challenging for the Investment Manager to meet prospective companies and their teams face to face, an important part of assessing investments and developing relationships with management teams. The continued economic uncertainty has also made ascertaining the underlying value and progress within a business difficult to assess, as many sectors have been affected by the pandemic. For much of the period there were fewer opportunities coming to market, with management teams focused on steering their businesses through economic uncertainty. Despite these challenges, the Manager has continued to search for high quality businesses that have demonstrated resilience during Covid-19. As a result, three new investments were completed in December 2020, IMMJ Systems, a document management system serving the NHS and other healthcare providers, iMist, a manufacturer of fire suppression systems and Titania Group, a cybersecurity software business. Behind these, there is a strong pipeline of opportunities that the Manager expects to convert during 2021. IMMJ SYSTEMS LIMITEDIn December 2020 the Company made a c.£1.8 million investment into IMMJ Systems Limited, an innovative, electronic document management solution for the healthcare sector, serving NHS Trusts and private providers. Founded in 2015 by a team experienced in enterprise IT and NHS technology distribution, IMMJ developed MediViewer, software that addresses the challenge of digitising patient records and providing a single, easy access interface for clinical caregivers. The investment will enable IMMJ to scale the business through new hires in key functions such as operations, technology and account management, to support the expanding deployment of MediViewer. IMIST LIMITEDIn December 2020 the Company invested c.£1.6 million into iMist Holdings Limted, a manufacturer and installer of water mist fire protection systems for homes and residential buildings. iMist was founded in 2015 by Tony Sims who has over 20 years’ engineering experience. iMist has developed its own range of high-pressure water mist fire suppression systems. The proprietary solution offers a number of benefits over traditional fire sprinkler and lower pressure water mist products including more efficient use of water, ease of installation and cost effectiveness. The investment will drive further growth and development activities across the UK, on the back of the current regulatory opportunity. TITANIA LIMITEDIn December 2020, the Company invested c.£1.3 million into Titania Group Limited, a cybersecurity software business. Founded in 2009, Titania has grown substantially due to the success of its first product, Nipper, which automates the assessment of network devices to accurately identify vulnerabilities. The winner of multiple cybersecurity industry awards, Titania has over 1,000 customers globally. The investment will also be used to enhance sales and marketing efforts for Titania’s current suite of products. FOLLOW ON INVESTMENTSThe Manager had expected that more portfolio companies would need additional capital to support them through difficult trading conditions resulting from the various lockdowns, driving an increase in follow-on investment. However the portfolio has remained relatively resilient, supported by increased monitoring and guidance to portfolio management teams by the Manager. The Manager has made follow-on investments into three companies during 2020, totalling £1.9 million. Many companies used forms of Government support, such as the furlough scheme and the Coronavirus Business Interruption Loan Scheme, which reduced the need for additional equity injections in the period. However, as these schemes unwind and while the economic climate remains depressed, The Manager anticipates numerous requirements for follow-on investment in the coming months. ROXY LEISURE LTD During December 2020 the Company made a c.£1.0 million follow-on investment into Roxy Leisure, an entertainment bar group offering customers a variety of games such as pool and bowling. Roxy Leisure was performing extremely strongly prior to Covid-19 but has been affected by repeated lockdowns. The business will use funds to open new sites once restrictions ease, aiming to capitalise on increased consumer demand. SPEKTRIX LIMITEDIn December 2020, Spektrix a leading enterprise software solution for the UK and US arts sector encompassing ticketing, marketing, fundraising, analytics and customer relationship management, received a follow-on investment of c.£0.6 million from the Company. The investment will enable Spektrix to capitalise on new opportunities following the reopening of the arts sector. ACCROSOFT LIMITEDAlso in December 2020, the Company made a £0.3 million follow-on investment into Accrosoft, a software as a service company with two core products focusing on recruitment and parent-teacher-student communication. The investment will support the commercialisation of the school communications platform, with strong demand seen in the market due to the increased role of such technology while schools are closed because of Covid-19 restrictions. PIPELINEAt 31 December 2020, the Company had cash in hand of £27.9 million, which will be used to fund new and follow-on investments, buybacks and running expenses. The Manager is seeing a recovery in the pipeline of potential investments and has a number of opportunities under exclusivity or in due diligence. The Company remains well positioned to continue pursuing these potential investment opportunities. The onset of Covid-19 and the resulting economic downturn resulted in lower new investment activity in 2020. Depending on the length and severity of the Covid-19 outbreak and associated restrictions, the Manager expects to see a higher proportion of the Company’s deployment focused on follow-on investments in the short to medium term. As the economy recovers from the worst effects of the pandemic, the Manager expects demand for funding to increase, driving some particularly interesting opportunities for investment. EXITS AND REALISATIONSWhilst the M&A climate has been challenging in the period, with most trade acquirers focused on their core business and private equity investors focused on their existing portfolios or on distressed acquisitions, the Manager is now seeing acquisition interest returning, particularly in the healthcare, technology and ecommerce sectors. Fast casual and grab and go eateries have been particularly hard hit during the pandemic and to that end with the difficult market outlook as well as the remaining uncertainty around the business model, the Company realised its position in The Naked Deli, a healthy eating food chain, via an initial loan repayment of £0.1 million and the subsequent sale of share capital and loan note positions for £50k to the Company. The Naked Deli closed all its stores in line with government guidance in March and the outlook for this sector remains extremely challenging. There is uncertainty about town centre footfall, particularly for lunchtime trade, while employees are still working from home. In aggregate, The Naked Deli returned 0.2x money invested to the Company. In contrast, post-period end, the Company successfully realised its position in FFX Group, one of the UK’s largest multi-channel, independent suppliers of high-quality power tools, fixings and building supplies. The transaction generated proceeds of £5.7 million at completion and the Company will receive up to £0.2 million of deferred consideration after 18 months subject to certain conditions, implying a cash on cash return of 4.3x the initial investment of £1.4 million made in October 2015, equivalent to an IRR of c.32%. During the investment period, FFX opened a new 60,000 sq ft distribution centre and a new head office in Kent. The business updated its brand and launched an extensive range of its own products. Since the Company’s investment, FFX has more than tripled revenues and increased headcount by over 125. DISPOSALS IN THE NINE MONTH PERIOD TO 31 DECEMBER 2020 Company Detail Accounting cost at Proceeds Realised loss Valuation at date of disposal £ £ 31 March 2020 £ £ The Naked Deli Full Disposal 669,000 46,065 (622,935) - Total disposals 669,000 46,065 (622,935) - KEY PORTFOLIO DEVELOPMENTS Overall, the value of unquoted investments held rose by £26.2 million in the period, driven by deployment of £6.5 million and an increase in value of existing investments by £19.7 million. A disciplined approach to investment valuations has been maintained in light of Covid-19. In the quarter to March 2020, the onset of the Covid-19 pandemic drove significant economic uncertainty and the portfolio initially saw a substantial decrease in value of £20.6 million. In the following quarters, as the portfolio adapted to the new economic climate, fair values saw a recovery in aggregate. Material changes in valuation, defined as increasing or decreasing by £1.5 million or more since 31 March 2020, are detailed below. Updates on these companies are included below, or in the Top Ten Investments section on pages 12 to 16 of the Annual Report and Accounts. Company Valuation Methodology Valuation Change (£) Biofortuna limited Discounted revenue multiple 6,183,364 Innovation Consulting Group Limited Discounted earnings multiple 2,903,349 FFX Group Limited Offer proceeds 2,424,678 Procam Television Holdings Limited Discounted earnings multiple 2,314,634 Hospital Services Group Limited Discounted earnings multiple 1,666,181 Datapath Group Limited Discounted earnings multiple 1,546,422 Ixaris Group Holdings Limited Discounted revenue multiple (2,573,874) PROCAM TELEVISION HOLDINGS LIMITEDProcam is a broadcast hire company, supplying equipment and crew for location TV and film production and also has a division (True Lens Services) focused on the manufacture and maintenance of camera lenses. During Covid-19, Procam’s rental business had to largely close due to the halting of television and film production. Conversely, its True Lens Services division continued to trade positively, back to pre-Covid-19 levels. As challenging trading conditions continued, Procam required a formal restructuring and the Company supported a sale of the trade and assets of Procam’s rental division and spun out its True Lens Service division into a separate company, supporting a substantial recovery in value. The basis of the Procam valuation reflects the loan note value and accrued interest attributable to the Company. IXARIS GROUP HOLDINGS LIMITEDIxaris is a payments platform enabling efficient global payments, targeted in particular at the travel sector. The business has seen a severe downturn in trading due to the collapse of the travel sector in the wake of the pandemic. There remains significant uncertainty about when worldwide travel might resume. The Manager has engaged a new chair with extensive industry experience who has made a material contribution to improving the company’s prospects since joining in December. OutlookOn 22 February 2021, Prime Minister Boris Johnson outlined the planned route out of lockdown for businesses in England, culminating in the lifting of all social restrictions on 21 June 2021 if circumstances allow. Businesses of all sizes have faced a very testing 12 months, not least with the stop-start dynamic of multiple lockdowns, therefore the Prime Minister’s political commitment to an ‘irreversible’ ending of lockdown is welcomed, along with the extended support of the Coronavirus Job Retention Scheme. It is vital that SMEs are supported through the full reopening of UK’s economy in order to rebuild consumer and business confidence and to enable our retail, hospitality, cultural, leisure and tourism sectors to get back to business. Most businesses had fully reopened after the first lockdown by September 2020, with the Manager supporting its portfolio through a transition to the ‘new normal’. During the November and current lockdowns, the Manager acted quickly to administer the same ‘toolbox’ of support for the portfolio companies as in the first lockdown, to guide and prepare them for a prolonged period of uncertainty. The Investment Manager has also been working with companies to revise business plans and budgets to manage creditor stretch and debt build-up, and to prepare them for a reduction of Government support. The Manager is ensuring that finance directors at the portfolio companies continue to tightly manage overheads, reduce capital expenditure and work through longer-term cost reduction plans given the uncertain macro environment. It is important that management teams and investors are well prepared for a sustained period of weaker consumer and business demand as consumers and businesses adapt to the ‘new normal’. While Covid-19 has brought unprecedented disruption, it has also prompted many organisations to reassess their business models and take action to adapt to a new economic landscape. A number of the Manager’s portfolio companies have used this as an opportunity to review their overall strategy, venture into a new market or launch a new product or service. For example, to supplement lost revenues from their core business some portfolio companies have procured and provided PPE or other protective equipment, such as hand sanitising stations or screens. Healthcare and life science investments have also contributed to national efforts to defeat the virus by manufacturing Covid-19 testing kits. An example of this is portfolio company Mologic, which received a grant of c.£1m to fund Covid related lateral flow diagnostics development. Fellow portfolio company Biofortuna, another diagnostics company, has successfully won contracts to manufacture millions of Covid-19 PCR testing kits for others. Some of the portfolio companies used this time as an opportunity to improve online activity and have seen an uptick in revenues as a consequence. With the trend towards ecommerce accelerating during Covid-19, retail businesses will need to continue embracing this channel fully and make it a core part of the overall growth strategy. The Manager is working closely with portfolio companies to ensure they are well-positioned to capitalise on this opportunity. A proportion of the portfolio companies are particularly at risk due to the sectors they operate in, such as travel, hospitality and leisure. Many of these businesses are now stuck in a prolonged period of closures with anticipated re-opening in the next few months. The Manager is working closely with these businesses, paying particular attention to managing creditors and cash preservation. It is important to highlight that some of the Company’s leisure investments demonstrated market leading site metrics pre- Covid and will have the ability to weather this temporary period of reduced trading. Once reopened, even with capacity limitations, the Manager expects several of these leisure businesses to return to profit and cash generation, thanks to a loyal customer base and favourable customer demographic. Beyond Covid-19, another factor providing economic uncertainty was Brexit, with the Brexit transition period coming to an end on 31 December 2020. The Manager has worked closely with portfolio companies to prepare them to the extent possible. Thanks to the diverse nature of businesses in the portfolio, with a combination of businesses which really focus on the domestic UK market and some that export and source worldwide, the Manager remains confident that the Company is well-positioned to endure potential volatility. Notwithstanding this uncertain economic backdrop, the Manager continues to see encouraging levels of activity from smaller UK companies seeking growth capital. The Investment Manager expects this to increase as companies begin to recover from the impact of Covid-19, with requirements for permanent funding to working capital. VCTs are still viewed by many entrepreneurs as an attractive source of capital that provide scale-up funding to businesses at an early stage of their growth, when other sources of funding may not be readily available or alongside other sources of capital, including the government measures for supporting businesses during Covid-19. Despite the current challenges of Covid-19 in the medium and long term, the UK remains an excellent place to start, scale and sell a business, with broad pools of talent and an entrepreneurial culture. Russell Healey Partner and Head of Private Equity Foresight Group LLP 23 April 2021 Audited Income Statementfor the nine months ended 31 December 2020 Nine months ended Year ended 31 December 2020 31 March 2020 Revenue Capital Total Revenue Capital Total £'000 £'000 £'000 £'000 £'000 £'000 Investment holding gains/ (losses) - 20,372 20,372 - (11,081) (11,081) Realised losses on investments (623) (623) (5,251) (5,251) Income 67 - 67 3,673 - 3,673 Investment management fees (434) (1,301) (1,735) (545) (1,633) (2,178) Other expenses (490) - (490) (594) - (594) (Loss)/ profit on ordinary activities before taxation (857) 18,448 17,591 2,534 (17,965) (15,431) Taxation - - - - - - (Loss)/ profit on ordinary activities after taxation (857) 18,448 17,591 2,534 (17,965) (15,431) (Loss)/ profit per share: (0.4)p 9.5p 9.1p 1.3p (9.2)p (7.9)p The total column of this statement is the profit and loss account of the Company and the revenue and capital columns represent supplementary information. All revenue and capital items in the above Income Statement are derived from continuing operations. No operations were acquired or discontinued in the period. The Company has no recognised gains or losses other than those shown above, therefore no separate statement of total comprehensive income has been presented. The Company has only one class of business and one reportable segment, the results of which are set out in the Income Statement and Balance Sheet. There are no potentially dilutive capital instruments in issue and, therefore, no diluted earnings per share figures are relevant. The basic and diluted earnings per share are, therefore, identical. The notes on pages 58 to 73 of the Annual Report and Accounts form part of these financial statements. Audited Reconciliation of Movements in Shareholders' Funds Nine months ended 31 December 2020 Called-up share capital £’000 Share premium account £’000 Capital redemption reserve £’000 Special distributableReserve^ £’000 Capital reserve^ £’000 Revaluation reserve £’000 Total £’000 As at 1 April 2020 1,948 79,443 503 63,127 (49,990) 13,669 108,700 Share issues in the period* 11 578 - - - - 589 Expenses in relation to share issues** - (28) - - - - (28) Repurchase of shares (20) - 20 (1,085) - - (1,085) Cancellation of share premium - (12,535) - 12,535 - - - Realised losses on disposal of investments - - - - (623) - (623) Investment holding gains - - - - - 20,372 20,372 Dividends paid - - - (5,413) - - (5,413) Management fees charged to capital - - - - (1,301) - (1,301) Revenue loss for the period - - - (857) - - (857) As at 31 December 2020 1,939 67,458 523 68,307 (51,914) 34,041 120,354 *relating to the dividend investment scheme. ** Expenses in relation to share issues relate to trail commission for prior years’ fund raising. ^Reserve is available for distribution, total distributable reserves at 31 December 2020 are £16,393,000 (31 March 2020: £13,137,000). Year ended 31 March 2020 Called-up share capital £’000 Share premium account £’000 Capital redemption reserve £’000 Special distributableReserve^ £’000 Capital reserve^£’000 Revaluation reserve £’000 Total £’000 As at 1 April 2019 1,736 63,676 475 70,094 (43,106) 24,750 117,625 Share issues in the year 240 16,481 - - - - 16,721 Expenses in relation to share issues - (714) - - - - (714) Repurchase of shares (28) - 28 (1,674) - - (1,674) Realised losses on disposal of investments - - - - (5,251) - (5,251) Investment holding losses - - - - - (11,081) (11,081) Dividends paid - - - (7,827) - - (7,827) Management fees charged to capital - - - - (1,633) - (1,633) Revenue loss for the year - - - 2,534 - - 2,534 As at 31 March 2020 1,948 79,443 503 63,127 (49,990) 13,669 108,700 The notes on pages 58 to 73 of the Annual Report and Accounts form part of these financial statements. Audited Balance Sheet at 31 December 2020 Registered number: 03506579 As at 31 December 2020 £’000 As at 31 March 2020 £’000 Fixed assets Investments held at fair value through profit or loss 92,441 66,206 Current assets Debtors 162 726 Cash and cash equivalents 27,862 41,872 28,024 42,598 Creditors Amounts falling due within one year (111) (104) Net current assets 27,913 42,494 Net assets 120,354 108,700 Capital and reserves Called-up share capital 1,939 1,948 Share premium account 67,458 79,443 Capital redemption reserve 523 503 Special distributable reserve 68,307 63,127 Capital reserve (51,914) (49,990) Revaluation reserve 34,041 13,669 Equity shareholders’ funds 120,354 108,700 Net asset value per share: 62.1p 55.8p The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2021 and were signed on its behalf by: Raymond Abbott Chairman 23 April 2021 The notes on pages 58 to 73 of the Annual Report and Accounts form part of these financial statements. Audited Cash Flow Statementfor the nine months ended 31 December 2020 Nine months ended Year ended 31 December 2020 31 March 2020 £'000 £'000 Cash flow from operating activities Loan interest received on investments 136 559 Dividends received from investments - 2,835 Deposit and similar interest received 28 238 Investment management fees paid (1,283) (2,579) Secretarial fees paid (119) (169) Other cash payments (349) (418) Net cash (outflow)/ inflow from operating activities (1,587) 466 Cash flow from investing activities Purchase of investments (6,532) (8,361) Net proceeds on sale of investments 46 434 Net proceeds on deferred consideration - 31 Net cash outflow from investing activities (6,486) (7,896) Cash flow from financing activities Proceeds of fund raising - 25,586 Expenses of fund raising (28) (336) Repurchase of own shares (1,085) (2,067) Equity dividends paid (4,824) (7,066) Net cash (outflow)/ inflow from financing activities (5,937) 16,117 Net (outflow)/ inflow of cash for the year (14,010) 8,687 Reconciliation of net cash flow to movement in net funds (Decrease)/ Increase in cash and cash equivalents for the year (14,010) 8,687 Net cash and cash equivalents at start of year 41,872 33,185 Net cash and cash equivalents at end of year 27,862 41,872 Analysis of changes in net debt At 1 April 2020 £’000 Cash flow £’000 At 31 December 2020 £’000 Cash and cash equivalents 41,872 (14,010) 27,862 The notes on pages 58 to 73 of the Annual Report and Accounts form part of these financial statements. Notes These are not statutory accounts in accordance with S436 of the Companies Act 2006. The full audited accounts for the nine months ended 31 December 2020, which were unqualified and did not contain statements under S498(2) of the Companies Act 2006 or S498(3) of the Companies Act 2006, will be lodged with the Registrar of Companies. Statutory accounts for the nine month period ended 31 December 2020 including an unqualified audit report and containing no statements under the Companies Act 2006 will be delivered to the Registrar of Companies in due course. The audited Annual Financial Report has been prepared on the basis of accounting policies set out in the statutory accounts of the Company for the nine months ended 31 December 2020. All investments held by the Company are classified as ‘fair value through the profit and loss’. Unquoted investments have been valued in accordance with IPEV guidelines. Quoted investments are stated at bid prices in accordance with the IPEV guidelines and Generally Accepted Accounting Practice. Copies of the Annual Report will be sent to shareholders and can be accessed on the following website: www.foresightgroup.eu. Net asset value per share Net asset value per share is based on net assets at the period end of £120,354,000 (31 March 2020: £108,700,000) and on 193,859,213 (31 March 2020: 194,826,224) shares, being the number of shares in issue at that date. Return per share Nine months ended 31 December 2020£’000 Year ended 31 March 2020£’000 Total profit/ (loss) after taxation 17,591 (15,431) Total profit/ (loss) per share (note a) 9.1p (7.9)p Revenue (loss)/profit from ordinary activities after taxation (857) 2,534 Revenue (loss)/profit per share (note b) (0.4)p 1.3p Capital profit/ (loss) from ordinary activities after taxation 18,448 (17,965) Capital profit/ (loss) per share (note c) 9.5p (9.2)p Weighted average number of shares in issue in the year 194,099,123 195,581,908 Notes: Total profit/(loss) per share is total profit/(loss) after taxation divided by the weighted average number of shares in issue during the period.Revenue (loss)/profit per share is revenue (loss)/profit after taxation divided by the weighted average number of shares in issue during the period. Capital profit/(loss) per share is capital profit/(loss) after taxation divided by the weighted average number of shares in issue during the period. Annual General Meeting The Company’s Annual General Meeting will take place on 7 July 2021 at 1:00pm. In light of the continuing Covid-19 situation, the meeting will be held by way of a closed meeting and shareholders will not be permitted to attend. Shareholders will, however, be able to attend virtually, but will not be able to vote on the resolutions at the Annual General Meeting. Please refer to the formal notice on page 74 of the Annual Report and Accounts for further details in relation to the format of this year’s meeting and the request to observe social distancing and travel restrictions in place Income Nine Months ended 31 December 2020£’000 Year ended 31 March 2020£’000 Loan stock interest 19 597 Dividends receivable - 2,835 Deposit and similar interest received 28 241 Other Income 20 - 67 3,673 Investments held at fair value through profit or loss 31 December 2020 £’000 31 March 2020 £’000 Unquoted investments 92,441 66,206 92,441 66,206 £’000 Book cost as at 1 April 2020 52,537 Investment holding gains 13,669 Valuation at 1 April 2020 66,206 Movements in the period: Purchases at cost 6,532 Disposal proceeds (46) Realised losses (623) Investment holding gains 20,372 Valuation at 31 December 2020 92,441 Book cost at 31 December 2020 58,400 Investment holding gains 34,041 Valuation at 31 December 2020 92,441 9. Related party transactions No Director has an interest in any contract to which the Company is a party, other than their appointment as directors. 10. Transactions with the manager Foresight Group LLP earned fees of £1,735,000 in the nine month period to 31 December 2020 (31 March 2020: £3,000. Prior to this Foresight Group CI Limited acted as investment manager until 27 January 2020: £2,175,000). No performance fee was paid or accrued for the period (31 March 2020: nil). Foresight Group LLP is the Company Secretary (appointed in November 2017) and received, directly and indirectly, for accounting and company secretarial services fees of £119,000 (31 March 2020: £169,000) during the period. At the balance sheet date there was £nil due to or from Foresight Group LLP (31 March 2020: £452,000 due from Foresight Group LLP). No amounts have been written off in the period in respect of debts due to or from related parties. END
Antonio, the Hammers’ only senior striker, is currently out of action with his third hamstring problem of the season.
SkyWater Technology Completes $112,056,000 Initial Public Offering
The men were caught red-handed emptying debris and building material from their large lorry down a quiet country lane in Ugbrooke, Devon, last week
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DIY > store-bought.
Shares of Boston-based Meridian Bancorp (NASDAQ: EBSB) rose by more than 16% as of 10:05 a.m. EDT today, after the company announced yesterday that it will be acquired by competitor Independent Bank Corp. (NASDAQ: INDB). Independent Bank Corp., the holding company of Rockland Trust, is a $13.8 billion asset bank mostly operating in parts of Massachusetts. Meridian Bancorp, the holding company of East Boston Savings Bank, is a $6.5 billion asset bank largely located in Boston and the surrounding area.
TORONTO, April 23, 2021 (GLOBE NEWSWIRE) -- (TSX: RBN.UN) Blue Ribbon Income Fund (the “Fund”) announces distributions in the amount of $0.04 per unit per month for record dates from April to June 2021. Record Date Payment DateApril 30, 2021 May 14, 2021May 31, 2021 June 14, 2021 June 30, 2021 July 15, 2021 Since the Fund’s inception in September 1997, the Fund has paid cash distributions of $20.01 per unit. Unitholders are reminded that the Fund offers a distribution reinvestment plan (“DRIP”) which provides unitholders with the ability to automatically reinvest distributions, commission free, and realize the benefits of compound growth. Unitholders can enroll in the DRIP program by contacting their investment advisor. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email firstname.lastname@example.org or visit our website at www.blueribbonincomefund.com. You will usually pay brokerage fees to your dealer if you purchase or sell units of the investment fund on the Toronto Stock Exchange or other alternative Canadian trading system (an “exchange”). If the units are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the investment fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Fund in the public filings available at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.
Dallas, Texas--(Newsfile Corp. - April 23, 2021) - World Series of Golf, Inc. (OTC Pink: WSGF) ("WSGF") today published an update on the company's Vaycaychella P2P Alternative Real Estate Investment Application expected to be released in May and potentially as early as the end of April.In response to the sharing economy advances empowered by applications such as Airbnb and VRBO, that enable every property owner virtually anywhere in the world to generate income from ...
This week, Prince Louis started attending London's Willcocks Nursery School, the same school big sister Princess Charlotte attended
Boris Johnson has a text addiction and it’s bad news for all of us. The alleged Dominic Cummings leaks may just be a distraction from the bigger issue: we’re led by a man with no self-discipline and a very busy phone