Holding Company – Render Boy http://render-boy.com/ Mon, 21 Jun 2021 18:43:38 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.2 http://render-boy.com/wp-content/uploads/2021/04/render-boy-icon-150x150.png Holding Company – Render Boy http://render-boy.com/ 32 32 University school to increase scholarships with $ 25 million donation http://render-boy.com/university-school-to-increase-scholarships-with-25-million-donation/ http://render-boy.com/university-school-to-increase-scholarships-with-25-million-donation/#respond Mon, 21 Jun 2021 18:33:32 +0000 http://render-boy.com/university-school-to-increase-scholarships-with-25-million-donation/

HUNTING VALLEY, Ohio – University school principal Patrick T. Gallagher believes a $ 25 million donation from the Bill and Susan Oberndorf Foundation will be transformational.

“This gift will change the life trajectories of these young men,” said Gallagher. “It will help us provide an amazing education to talented, accomplished and motivated boys from across the region.

“We could not be more grateful for the support of Bill and Susan Oberndorf, who championed and advanced educational opportunities for children across the country. “

The $ 25 million donation, announced on June 14, will provide scholarships to the private boys’ school with campuses in Hunting Valley and Shaker Heights.

The donation represents the largest gift in the school’s history and one of the largest an independent day school has ever received in the country, according to Gallagher.

“I believe that the most important basis in life is education,” he said. “I myself have benefited from the kind of support this donation will bring to university students.

“So this job is intensely personal for me. I am delighted that this support directly benefits the students.

The donation is part of a $ 50 million goal to increase scholarships at the university school to attract and support outstanding students from across the region, Gallagher said.

“We are looking to admit from the next cycle a hundred academics thanks to this generous donation,” he said. “We will have students who will join us in August 2022 and who will benefit from this donation.

“Obviously we have many needs as a nonprofit, and this is very special for my colleagues and for me.”

Gallagher – who is entering his fourth year as a principal in the United States and has worked at the school for a total of 16 years – said the $ 50 million goal was part of a strategic plan that the school board recently approved.

“Over the next five years, we hope to hit that $ 50 million goal, and Bill and Susan have certainly given us a good start,” he said. “They have supported university school for decades.”

The Oberndorfs live in San Francisco.

“It is a great pleasure and a privilege for my wife and I to make this gift to the United States,” Bill Oberndorf said in a press release. “I truly believe that it is only because I was able to attend the United States that I am able to make this donation today.

“I hope the recipients of these scholarships continue to lead determined lives and find their time in the United States as impactful as I am.”

Oberndorf, graduated in 1971 from the University School, was administrator of the school for more than 30 years. He is also a graduate of Williams College in Williamstown, Massachusetts, and Stanford University in Stanford, California.

Oberndorf is executive chairman of his family-owned holding company, Oberndorf Enterprises LLC, which invests in a wide range of businesses. He is also president of the American Children’s Federation, which advocates for K-12 educational choice for low-income students.

In addition, he is a Life Director of the Board of Trustees of the University of California at San Francisco, of which he served as Chairman for nine years.

Susan Oberndorf graduated from Stanford University. She is also president of the WNC Corporation, her family’s holding company, and president of the Oberndorf Foundation.

She is a board member of the Environmental Defense Fund and the Mission Dolores Academy, an independent elementary school in San Francisco.

The university school welcomes 840 boys from kindergarten to grade 12. The school’s mission is to inspire promising boys to become young men of character who lead and serve.

Families can register to find out more about the school’s scholarship offers by visiting us.edu/bourses.

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Fintech Holding Firm APPS acquires Clique Payments, a cloud-enabled software company http://render-boy.com/fintech-holding-firm-apps-acquires-clique-payments-a-cloud-enabled-software-company/ http://render-boy.com/fintech-holding-firm-apps-acquires-clique-payments-a-cloud-enabled-software-company/#respond Sat, 19 Jun 2021 23:04:35 +0000 http://render-boy.com/fintech-holding-firm-apps-acquires-clique-payments-a-cloud-enabled-software-company/

Atlantic-Pacific Processing Systems NV, Corp. (APPS), a fintech holding company offering technology and financial services, reportedly acquired a cloud-enabled software company Click Payments, Inc.

The acquisition should allow APPLICATIONS to further extend its enterprise resource planning and accounting payments integration solutions to include QuickBooks, FreshBooks, Xero, Sage, and other software applications. It will also offer support for various payment processing services and over 20 major payment gateways. The terms of the deal have not been shared publicly.

Abe maghaguian, President and CEO of APPS, said:

“Clique’s reseller orientation is highly complementary. The acquisition also integrates seamlessly with our APPSos platform for merchant lifecycle management and will allow independent software vendors, independent sales organizations, payment facilitators and bank sponsorship customers to expand. their offerings while helping their customers streamline their operations. We are very excited about this acquisition and welcome Clique to the APPS family.

Clique’s Software-as-a-Service (SaaS) platform offers a suite of solutions including integrated payment acceptance for accounting and ERP software. Customers can access a front-office point-of-sale system that allows merchants to manage different types of transactions, such as fully integrated EMV, as well as swipe and key payments synchronized with accounting software from real-time back-office.

In addition, the platform supports creation of invoices with sending by email and SMS, recurring invoicing, convenience fees, tokenization and various other features.

APPS ‘“semi-integrated” cloud point-of-sale terminal comes with connections to widely used payment processing providers and gateways. The company’s payment facilitation program and platform are also supported. ISVs that wish to provide card payment services using the payfac model have successfully integrated access to the solutions they need (all from a single source).

CIO APPS Brent Gephart have noticed :

“The acquisition of Clique gives ISVs, ISOs and their merchant customers easy access to a full suite of products and services, including highly desirable payment integration application programming interfaces, user interfaces and plug-ins for the main accounting and ERP platforms. We look forward to deploying Clique’s capabilities to customers and others looking to expand their offerings through this proven platform. “

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Media Central signs deal with Creator News http://render-boy.com/media-central-signs-deal-with-creator-news/ http://render-boy.com/media-central-signs-deal-with-creator-news/#respond Fri, 18 Jun 2021 21:00:56 +0000 http://render-boy.com/media-central-signs-deal-with-creator-news/

TORONTO, June 18, 2021 (GLOBE NEWSWIRE) – Media Central Corporation Inc. (CSE: FLYY, FSE: 3AT) (“Media Central” or the “Company”), a publicly traded media asset holding company that trades on the Canadian Stock Exchange, today announced an update day following his press release of February 4. , 2021, which, as part of the Company’s 2021 strategic growth plan, has entered into an agreement with Creator News Inc. (“Creator News”).

Creator News has developed a software platform (the “Platform”) to act as a global aggregator of the best artistic, cultural and entertainment content. The new digital platform will focus on media consumers interested in topics such as arts, culture, film, music, books, technology, real estate and food. The Company and Creator News have entered into an agreement (the “Agreement”) dated June 18, 2021, pursuant to which the Company’s interests, including The Georgia Straight, NOW Magazine, CannCentral.com and eCentralSports.com, will license its content to the Platform.

The Company had previously offered to develop Creator News as a wholly owned subsidiary, with Creator Stack, Inc. (together with Creator News, the “Creator Companies”) which would also provide digital products complementing the Company’s existing products and services. . offerings. However, given the limited resources of the Company, it was subsequently determined that it would be more advantageous for the shareholders of the Company if the creator companies were developed and fully funded by third parties, and for Media Central to allow then the use of the respective platforms and content. . The Company has entered into discussions with some of its shareholders in this regard, whereby it was agreed that these shareholders would finance the development cost of the Creative Companies and their respective digital platforms, following which (i) the Company would license the agreements to use these platforms; and (ii) the Company would be granted a 25% interest in each of the Founding Companies without additional consideration (the “External Development Proposal”). The Company has formed a special independent committee to review and make recommendations regarding the external development proposal, and the committee, after review, recommended approval by the board of directors.

The Agreement includes a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of holders of minority securities in special transactions (“IM 61-101”). The license agreement was exempt from the valuation requirement of NI 61-101 under the exemptions set out in section 5.5 (b) of NI 61-101, as the common shares of the Company are not listed on a specified market and minority shareholder approval requirements. of MI 61-101 under the exemption provided for in article 5.7 (1) (a) of MI 61-101 in that the fair market value of the Agreement did not exceed 25% of the market capitalization of Media Central. Since the material change report disclosing the Agreement is filed less than 21 days before the transaction, NI 61-101 is required to explain why the shorter period was reasonable or necessary in the circumstances. In Media Central’s view, it was necessary to sign the Agreement immediately and therefore such a short period was reasonable and necessary in the circumstances for sound business reasons, as the Company did not know when the Agreement would be. concluded.

About Media Central Corporation Inc.
Media Central Corporation Inc. (CSE: FLYY, FSE: 3AT) is an alternative media company set to acquire and develop high quality publishing assets starting with the recent acquisition of Vancouver Free Press Corp., the purchase of NOW Communications Inc. and the launch of the CannCentral.com digital cannabis platform and ESports ECentralSports.com point of sale.

Instagram: @mediacentralcorp
Twitter: @mediacentralc
Facebook: Media Central Corp.

About Vancouver Free Press Corp.
Vancouver Free Press Corp. owns and operates Georgia Straight and straight.com. Established in 1967 as Vancouver’s news, lifestyle and entertainment weekly, the Georgia Straight has been an integral part of the active urban west coast lifestyle for over 50 years. The print edition of The Straight is published weekly on Thursdays and daily online at www.straightc.om The Georgia Straight features an award-winning editorial collection of features, articles and reviews. Regular coverage includes news, tech, arts, music, fashion, travel, health, cannabis and food, plus Vancouver’s most comprehensive listings of entertainment and special events. . Vancouver Free Press Corp. is a wholly owned subsidiary of Media Central Corporation Inc. (CSE: FLYY, FSE: 3AT).
Instagram: @georgiastraight
Twitter: @georgiastraight
Facebook: @georgiastraight

About NOW Central Communications Inc.
NOW Central owns and operates NOW Magazine and nowtoronto.com. Since 1981, NOW has been the voice of Toronto news and entertainment, published in the press every Thursday and daily on nowtoronto.com. NOW has been a leading, defining and pioneering independent and alternative voice publication for over 38 years. NOW Central Communications Inc. is a wholly owned subsidiary of Media Central Corporation Inc. (CSE: FLYY, FSE: 3AT).
Instagram: @nowtoronto
Twitter: @nowtoronto
Facebook: facebook.com/nowmagazine

About CannCentral Inc.
With unique daily content appealing to both new and experienced cannabis users, Canncentral is on its way to becoming the leading digital publisher for all things cannabis. Canncentral Inc. is a wholly owned subsidiary of Media Central Corporation Inc. (CSE: FLYY, FSE: 3AT).

About ECentralSports
ECentralSports is a vibrant digital destination for eSports fans looking for the latest news, competitive gaming coverage, analysis, events, lifestyle features and game culture. ECentralSports is an affiliate of wholly owned by Media Central Corporation Inc. (CSE: FLYY, FSE: 3AT).
Instagram: @ecentralsports
Twitter: @ecentralsports
Facebook: @ecentralsports

The CSE has not reviewed and accepts no responsibility for the adequacy or accuracy of this release.

Certain information contained in this press release constitutes forward-looking statements under applicable securities laws. All statements contained in this press release that are not statements of historical fact can be considered as forward-looking statements. Forward-looking statements are often identified by words such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms. and similar expressions. Forward-looking statements contained in this press release may include, but are not limited to, statements regarding internal expectations and expectations regarding the direction of the new media platform and its content. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving; the inability to access sufficient capital from internal and external sources, and / or the inability to access sufficient capital on favorable terms; the media industry in general, income tax and regulatory matters; the ability of Media Central and the creative companies to execute their respective business strategies; competition; currency and interest rate fluctuations and other risks.

Readers are cautioned that the foregoing list is not exhaustive and that they should carefully consider the various risks and uncertainties identified in the documents filed by the Company on SEDAR. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will be achieved. This information, although considered reasonable by management at the time of its preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

The forward-looking statements included in this press release are made as of the date of this press release and the Company does not undertake to publicly update these forward-looking statements to reflect new information, subsequent events or otherwise, unless applicable securities do not require it. laws.

The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

SOURCE: Media Central Corporation Inc.

Maria Micielli
Corporate secretary

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Sykes Enterprises of Tampa to be sold for $ 2.2 billion http://render-boy.com/sykes-enterprises-of-tampa-to-be-sold-for-2-2-billion/ http://render-boy.com/sykes-enterprises-of-tampa-to-be-sold-for-2-2-billion/#respond Fri, 18 Jun 2021 13:00:00 +0000 http://render-boy.com/sykes-enterprises-of-tampa-to-be-sold-for-2-2-billion/

Sykes Enterprises, one of the largest state-owned companies in the Tampa Bay area, is sold to a private Miami company in a deal worth $ 2.2 billion.

The Tampa-based company, which provides business services such as customer care and technical support, will be sold to Sitel Group, a global customer service company, in an all-cash deal worth of $ 54 per share, a 31.2% premium over Thursday’s share price.

The deal is expected to close later this year, at which point Sykes will cease trading as a public company.

Related: In El Salvador, the Tampa company plays a major role

“This combination marks an important milestone in our 40-plus-year operating history,” President and CEO Chuck Sykes said in a statement. “Thanks to the hard work of our team members, this transaction validates the execution of our vision, our strategy, our differentiated full lifecycle business model and promises immediate and definite value for our shareholders at an attractive premium. “

The combined company will have 155,000 employees, Sitel Chairman and CEO Laurent Uberti said in a statement.

“By combining the two companies, our expanded geographic footprint, multi-shore solutions and greater ability to serve customers will allow us to better help them help our customers navigate the rapidly changing industry together,” Uberti said. . “We have immense respect for Chuck Sykes and the business he and his family have built and all they have accomplished.”

Sykes is the second of Tampa Bay’s largest public companies to close a sale agreement this year. In April, Welbilt of New Port Richey, which supplies equipment to restaurants and professional kitchens, struck a deal to be sold to an Illinois company as part of a stock purchase transaction of a worth $ 4.3 billion. Earlier this month, Welbilt received a competing $ 3.1 billion cash offer from an Italian holding company.

Sykes is a very visible presence in Tampa. The company’s name adorns the top of the Rivergate Tower, often referred to as the Beer Can Building. The University of Tampa has a Sykes College of Business and a Sykes Chapel and Center for Faith and Values.

“As we enter the next phase of our journey, there is an opportunity to take the business to historic heights with a proven partner with similar culture and values,” said Chuck Sykes. “Within the Sitel Group, I am convinced that we have a valued partner with a solid heritage of in-depth industry knowledge and experience, a solid industry reputation, a shared vision and a people-centered culture to better serve people. clients. “

This is a developing story and will be updated. Check back for updates.

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Columbia Financial, Inc. to acquire Freehold Bank http://render-boy.com/columbia-financial-inc-to-acquire-freehold-bank/ http://render-boy.com/columbia-financial-inc-to-acquire-freehold-bank/#respond Thu, 17 Jun 2021 20:30:00 +0000 http://render-boy.com/columbia-financial-inc-to-acquire-freehold-bank/

FAIR LAWN, NJ and FREEHOLD, NJ, June 17, 2021 (GLOBE NEWSWIRE) – Columbia Bank, MHC, Columbia Financial, Inc. (NASDAQ: CLBK) and Columbia Bank (collectively, “Columbia”), and Freehold MHC, Freehold Bancorp and Freehold Bank (collectively, “Freehold”) announced today that they have entered into a definitive merger agreement.

Pursuant to the merger agreement, Columbia will acquire Freehold, Freehold MHC and Freehold Bancorp merging respectively into Columbia Bank, MHC and Columbia Financial. At the time of these mergers, Freehold Bank will convert to a federal savings bank and operate as a wholly owned subsidiary of Columbia Financial. As a subsidiary of Columbia Financial, the current depositors of Freehold Bank will become members and have the same rights and privileges in Columbia Bank, MHC, the parent mutual holding company of Columbia Bank, as if their accounts were established in Colombia. Bank on the date established at Freehold. As part of the transaction, Columbia Financial will issue additional shares of its common stock to Columbia Bank, MHC for an amount equal to the fair value of Freehold as determined by an independent appraiser. These shares are expected to be issued immediately prior to the completion of the mergers. Additionally, after the mergers are finalized, Columbia and the Columbia Bank Foundation will support charitable organizations serving the communities currently served by Freehold.

Freehold Bank is the oldest savings institution in Monmouth County, providing financial services to its local community for over 167 years, and operates from its main office and branch, both located in Freehold, New Jersey. As of March 31, 2021, Freehold Bank had total assets of $ 299.8 million, loans of $ 155.9 million, deposits of $ 197.2 million, and equity of $ 39.5 million.

Columbia has offered full employment to all Freehold employees with Freehold Bank, and will add a current member of the Freehold board of directors to the Columbia Bank board of directors following the finalization of the Freehold Bank merger with Columbia Bank, which should happen in two years. after the completion of the mergers of the holding companies.

Mr. Thomas J. Kemly, President and CEO of Columbia, said, “We are delighted to have the opportunity to welcome Freehold Bank, its employees and customers to Columbia Bank. The transaction will expand our presence in Monmouth County. As two community-minded banks, we pride ourselves on strengthening our local impact and supporting new markets.

Mr. James H. Wainwright, President and CEO of Freehold said, “We are delighted to join Columbia Bank, a leading New Jersey-based bank with a shared culture and values. The merger will offer our clients the opportunity to join a larger banking network, with extended products and services, while employees will benefit from the opportunity to work for a growing community bank. The support of the Columbia Bank Foundation will be an asset to our local community and our charities. ”

The transaction, which has been approved by the board of directors of each company, is subject to the satisfaction of customary closing conditions, including receipt of various regulatory approvals, and is expected to close in the fourth quarter of 2021 once all of these conditions are met. fulfilled.

On a pro forma basis, the transaction is expected to be accretive to Columbia’s net income in 2022, but slightly dilutive to 2022 earnings per share of approximately 2% due to the additional shares issued to Columbia Bank, MHC. The transaction is expected to be accretive of approximately 3% to the fully converted tangible book value.

Columbia was advised in this transaction by investment banking firm Boenning & Scattergood, Inc. and represented by law firm Kilpatrick Townsend & Stockton LLP. Freehold was advised by FinPro Capital Advisors, Inc. and represented by the law firm Stevens & Lee, PC.

About Columbia Financial, Inc.

Columbia Financial, Inc. is a Delaware corporation organized as an intermediate holding company of Columbia Bank. Columbia Financial, Inc. is a majority owned subsidiary of Columbia Bank, MHC. Columbia Bank is a federally chartered savings bank headquartered in Fair Lawn, New Jersey. The Bank provides traditional financial services to consumers and businesses in our markets. As of March 31, 2021, Columbia had total assets of $ 9.0 billion, loans of $ 6.2 billion, and operated 61 branches with deposits of $ 7.0 billion.

About Freehold Bank

Freehold Bank is a state chartered savings bank which was incorporated and formally established on September 12, 1853. In 2009, Freehold Bank reorganized as a mutual holding company and, as part of this formed Freehold MHC and Freehold Bancorp, and Freehold Bank became a wholly owned subsidiary of Freehold Bancorp. Freehold Bank’s main office and branch are located in Freehold, New Jersey.

Forward-looking statements

Certain statements contained in this document constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act and are intended to be covered by the provisions of the sphere of security of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as “believes”, “will”, “will”, “expects”, “draft”, “could”, ” could “,” developments “,” strategic “,” “opportunities”, “anticipates”, “estimates”, “intends”, “plans”, “targets”, and similar expressions. These statements are based on the Columbia management’s current beliefs and expectations and are subject to significant risks and uncertainties.

Actual results may differ materially from those stated in forward-looking statements due to many factors. The following factors, among others, could cause actual results to differ materially from the anticipated results expressed in forward-looking statements: (i) the business of Columbia and Freehold may not be successfully combined, or such a combination may take more time than expected; (ii) the cost savings resulting from the merger may not be fully realized or may take longer than expected to be realized; (iii) operating costs, loss of customers and business interruption as a result of the merger may be higher than expected; (iv) government approvals of the merger may not be obtained, or adverse regulatory conditions may be imposed as part of government approvals of the merger or otherwise; (v) the interest rate environment may further compress margins and negatively affect net interest income; (vi) risks associated with continued asset diversification and adverse changes in credit quality; (vii) changes in legislation, regulations and policies; and (viii) the effect of the COVID-19 pandemic, including on our credit quality and business operations, as well as its impact on general economic and financial market conditions. Additional factors that could cause actual results to differ materially from those expressed in forward-looking statements are discussed in Columbia’s reports (such as 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 (the “SEC”) and available on the SEC’s website (www.sec.gov). All subsequent written and oral forward-looking statements regarding the proposed transaction or other matters attributable to Columbia and Freehold or any person acting on their behalf are expressly qualified in their entirety by the caveats above. Except as required by law, Columbia and Freehold undertake no obligation to update a forward-looking statement to reflect circumstances or events that occur after the date of the forward-looking statement.

Columbia Financial, Inc .: Contact Information:

Columbia Financial, Inc.
Investor Relations Department
(833) 550-0717

Freehold Bank contact details:

James H. Wainwright
President and CEO
(732) 462-6700

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Marquard & Bahls AG announces its stake in Superior Plus Corp. http://render-boy.com/marquard-bahls-ag-announces-its-stake-in-superior-plus-corp/ http://render-boy.com/marquard-bahls-ag-announces-its-stake-in-superior-plus-corp/#respond Wed, 16 Jun 2021 23:21:00 +0000 http://render-boy.com/marquard-bahls-ag-announces-its-stake-in-superior-plus-corp/

Hamburg, germany, June 16, 2021 / CNW / – Marquard & Bahls AG (“M&B”) announced today that it has, in a transaction entered into on June 16, 2021, acquired ownership and control of 100,200 common shares of Superior Plus Corp. (the “Company”) by means of purchases through the Toronto Stock Exchange or other Canadian stock markets, representing 0.06% of the issued and outstanding common shares, at an average price per Cdn.$ 15.47 per share. Immediately prior to the acquisition, M&B owned and controlled 31,587,304 common shares of the Company, representing 17.94% of the issued and outstanding common shares. Immediately after the acquisition, M&B owns and controls 31,687,504 common shares of the Company, representing 18.00% of the issued and outstanding common shares.

The Company’s head office is located at 401-200 Wellington Street West, Toronto, Ontario Canada M5V 3C7. M&B head office is located at Koreastrasse 7 – D-20457, Hamburg, germany.

M&B has acquired the common shares for investment purposes and may, depending on market and other conditions, increase or decrease its ownership, control or direction over the common shares of the Company through transactions. market, private agreements, treasury issues, exercise of options, otherwise.

About Marquard & Bahls AG

Marquard & Bahls AG is an agile and independent holding company in the energy and chemicals sector. Its main business segments include tank storage logistics and energy trading. Marquard & Bahls is present in 29 countries in Europe, America, Asia and Africa and employs approximately 4,300 people.

Caution Regarding Forward-Looking Statements

Certain statements contained in this report may constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”), including statements regarding its future plans and intentions. Forward-looking statements involve known and unknown risks, uncertainties and other factors and are subject to change.

SOURCE Marquard & Bahls SA


Show original content: http://www.newswire.ca/en/releases/archive/June2021/16/c9581.html

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WSFS Announces Execution of $ 100 Million Senior Debt Call http://render-boy.com/wsfs-announces-execution-of-100-million-senior-debt-call/ http://render-boy.com/wsfs-announces-execution-of-100-million-senior-debt-call/#respond Tue, 15 Jun 2021 20:10:36 +0000 http://render-boy.com/wsfs-announces-execution-of-100-million-senior-debt-call/

WILMINGTON, Delaware, June 15, 2021 (GLOBE NEWSWIRE) – WSFS Financial Corporation (NASDAQ: WSFS), the parent company of WSFS Bank, today announced that it has called up $ 100 million in senior debt with a fixed coupon rate of 4.50% senior variable rate notes due 2026. The notes were repayable quarterly from June 15, 2021. Debt was repaid using a portion of the proceeds of the December 2020 issue of $ 150 million variable rate senior notes with a historically low initial coupon of 2.75% for five years, then floating at SOFR plus 2.485% for the last five years.

“We are pleased to announce the execution of our senior debt repayment plan,” said Dominic C. Canuso, executive vice president and chief financial officer of WSFS. “This transaction has a positive impact on both our income statement and our balance sheet by reducing debt levels and interest charges. Our significant excess liquidity and our ability to repay debt while maintaining liquidity levels demonstrate the strength of our openness and the support of our investors for our vision, strategy and growth potential.

As part of the transaction, WSFS expects to incur additional interest charges of $ 1.1 million in the second quarter of 2021, to record the remaining unamortized debt issuance costs associated with the 2016 Senior Notes. .

About WSFS Financial Corporation
WSFS Financial Corporation is a multi-billion dollar financial services company. Its principal subsidiary, WSFS Bank, is the oldest and largest locally-managed bank and trust company, headquartered in Delaware and the greater Philadelphia area. As of March 31, 2021, WSFS Financial Corporation had $ 14.7 billion in assets on its balance sheet and $ 24.7 billion in assets under management and administration. WSFS operates from 111 offices, 88 of which are bank offices, located in Pennsylvania (51), Delaware (42), New Jersey (16), Virginia (1) and Nevada (1) and provides services comprehensive financial services, including commercial banking, banking, treasury management, and fiduciary and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Cash Connect®, Cypress Capital Management, LLC (Cypress), Christiana Trust Company of Delaware®, NewLane Finance®, Powder mill® Financial Solutions, West Capital Management®, WSFS Institutional Services®, WSFS mortgage®, and WSFS Wealth® Investments. Serving the Greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States operating permanently under the same name. For more information, please visit www.wsfsbank.com.

Investor Relations Contact: Dominique C. Canuso
(302) 571-6833

Media contact: Rebecca Acevedo
(215) 253-5566

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UK’s biggest investor abandons AIG, others from certain climate funds http://render-boy.com/uks-biggest-investor-abandons-aig-others-from-certain-climate-funds/ http://render-boy.com/uks-biggest-investor-abandons-aig-others-from-certain-climate-funds/#respond Tue, 15 Jun 2021 04:12:00 +0000 http://render-boy.com/uks-biggest-investor-abandons-aig-others-from-certain-climate-funds/

LONDON (Reuters) – Legal & General Investment Management, Britain’s largest asset manager, said on Tuesday it would abandon four companies from a number of its funds over their “insufficient” response to the climate change challenge , including the American insurer AIG.

FILE PHOTO: A leaf sits on top of a pile of coal in Youngstown, Ohio, US September 30, 2020. REUTERS / Shannon Stapleton / File Photo

The others to divest are Chinese lender Industrial and Commercial Bank of China, US utility holding company PPL Corporation and Chinese dairy holding company China Mengniu Dairy.

Not all of them had adequately responded to the companies’ commitment or had violated LGIM’s “red lines” regarding involvement in the coal sector, their carbon disclosures or their links to deforestation, the manager said. of funds in a press release.

They join nine other companies previously excluded for similar breaches by LGIM, which manages 1.2 trillion pounds ($ 1.7 trillion) in assets, including US oil major Exxon Mobil and Korea Electric Power Corporation.

As part of its climate impact pledge launched in 2018, LGIM, which is part of insurer Legal & General, said companies would be excluded from actively managed funds with some £ 58 billion in assets and that the four would be subject to voting sanctions using shares held throughout its territory. equity book.

“We have been making consistent demands over a period of several years … (companies) are really not meeting what we see as basic minimum standard expectations in terms of managing climate change in their industries,” said Yasmine Svan, Senior Sustainability Analyst at LGIM.

The exclusions follow a commitment made by LGIM in October to increase the number of companies with which it engages on climate change from 100 to 1,000.

The push was already starting to bear fruit, LGIM said on Tuesday, with 22% of companies on its “priority” list now setting a net zero carbon emissions target.

In the current annual general meeting season, LGIM said 130 companies would face votes against for failing to meet its minimum standards on climate change, mainly in the banking, insurance, retail and commercial sectors. real estate, technology and telecommunications.

As global policymakers prepare for the final round of climate talks in Glasgow later this year, LGIM chief executive Michelle Scrimgeour said asset managers must also step up their efforts.

“We cannot progress by acting in isolation and we, as investors, have a real role to play in the responsible allocation of capital and as stewards of our companies in which we invest to encourage larger progress towards achieving our overall sustainable development goals. “

($ 1 = 0.7056 pounds)

Reporting by Simon Jessop; Editing by Rachel Armstrong and David Evans

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Senior Lordstown Motors Executives Resign After Board Inquiry http://render-boy.com/senior-lordstown-motors-executives-resign-after-board-inquiry/ http://render-boy.com/senior-lordstown-motors-executives-resign-after-board-inquiry/#respond Mon, 14 Jun 2021 15:32:53 +0000 http://render-boy.com/senior-lordstown-motors-executives-resign-after-board-inquiry/

Lordstown Engines, the electric vehicle start-up struggling for its survival, announced on Monday the resignation of its chief executive, Steve Burns, and its chief financial officer, Julio Rodriguez, after the results of a board investigation into the report an investor questioning the viability of the company and statements about customer interest in its electric trucks.

The resignations take effect immediately and Lordstown has hired an executive search firm to find their replacements.

The company has released the results of an investigation by a committee of its board of directors into a report by Hindenburg Research, a bearish investor, who targeted Lordstown shortly after its IPO last October.

The committee found the report to be “false and misleading” about the viability of Lordstown’s technology and its vehicle deployment schedule. Still, the company’s report, led by law firm Sullivan & Cromwell, acknowledged “problems with the accuracy of some statements regarding the company’s pre-orders.”

Lordstown warned last week that this was the case not enough money to start commercial production of his electric van and may have to shut down. The company has been the subject of a Securities and Exchange Commission investigation relating in part to its merger last October with a special purpose acquisition company, or SPAC. Sullivan & Cromwell served as an advisor on the merger.

The SEC has sent at least two subpoenas to Lordstown seeking information about its statements regarding customer truck orders.

The resignations come just a week before Lordstown was scheduled to host an event at its factory for investors, analysts, customers and partners. The company intended to showcase the work on its Endurance electric truck.

Mr. Burns was the driving force behind Lordstown – founding the company just months after resigning as managing director of Workhorse, another electric vehicle company. The company was born shortly after General Motors announced the closure of the Ohio plant and struck a deal to finance the sale of the plant to Lordstown.

Lordstown was one of the first major mergers of a profitless start-up and SPAC, a holding company that raises funds from investors in hopes of finding a merger partner. Lordstown’s deal with PSPC, Diamond Peak Holdings, was announced in August and concluded a few months later. The company raised $ 675 million as part of the merger.

GM declined to comment on Lordstown’s announcement of the resignations on Monday, as did Goldman Sachs, which helped organize the company’s merger with DiamondPeak.

Other EV companies that have entered into or offered PSPC deals have also struggled to deliver on their big promises and have had to replace their senior executives.

Trevor Milton resigned as executive chairman of electric truck company Nikola shortly after Hindenburg issued a report accusing him of making numerous false claims about the company’s technology. Nikola refuted some of Hindenburg’s claims but admitted that some of his past claims were false.

And in April Ulrich Kranz, the CEO of Canoo, which develops electric vans, pickup trucks and other vehicles, resigned. Canoo, which completed its SPAC merger in December, said last month that the SEC opened an investigation into various aspects of its business.

Companies merging with PSPCs often issue upbeat financial forecasts, a practice that is limited in conventional initial public offerings. The SEC is now taking a closer look at these promises. PSPC deals are also done much faster than IPOs, and executives typically don’t have to go on a road show to present their stocks to investors. This is part of why companies that merged with PSPCs have become targets for short sellers, who make money betting that a stock is overvalued and its price is about to drop.

Lordstown said it has appointed its independent lead director, Angela Strand, as executive chairman as it seeks a permanent chief executive. Becky Roof will assume the role of Interim CFO.

One of the board committee members who commissioned the law firm’s report was David T. Hamamoto, a sponsor of Diamond Peak SPAC.

Lordstown, announcing last week that it might not have enough money to survive, also said it discovered significant weaknesses in its financial reporting system.

Lordstown shares were trading down around 17% on Monday morning.

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Have any insiders bought shares of China Leon Inspection Holding Limited (HKG: 1586) this year? http://render-boy.com/have-any-insiders-bought-shares-of-china-leon-inspection-holding-limited-hkg-1586-this-year/ http://render-boy.com/have-any-insiders-bought-shares-of-china-leon-inspection-holding-limited-hkg-1586-this-year/#respond Mon, 14 Jun 2021 01:50:20 +0000 http://render-boy.com/have-any-insiders-bought-shares-of-china-leon-inspection-holding-limited-hkg-1586-this-year/

We have lost count of the number of times insiders have racked up shares in a company that is improving significantly. The flip side is that there are more than a few examples of insiders throwing stocks ahead of a period of poor performance. So before you buy or sell China Leon Inspection Holding Limited (HKG: 1586), you might want to know if any insiders bought or sold.

Are Insider Trading Important?

It is quite normal to see company insiders, such as board members, trading company shares from time to time. However, most countries require the company to disclose these transactions to the market.

We don’t believe shareholders should just follow insider trading. But it makes perfect sense to keep an eye on what insiders are doing. For example, a Harvard university study found that “insider buying generates abnormal returns of over 6% per year”.

See our latest analysis for China Leon Inspection Holding

The Last 12 Months of Insider Trading at China Leon Inspection Holding

Vice President and Executive Director Yi Liu made the biggest insider buy in the past 12 months. This single transaction involved shares valued at HK $ 1.1 million priced at HK $ 1.02 each. We love to see purchases, but this purchase was made well below the current price of HK $ 1.73. Because it happened at a lower valuation, it doesn’t tell us much about insider interest in today’s price.

In the past twelve months, insiders of China Leon Inspection Holding were buying shares, but not selling them. Below you can see a visual representation of insider trading (by businesses and individuals) over the past 12 months. If you want to know exactly who sold, for how much and when, just click on the graph below!

SEHK: 1,586 Insider Trading Volume June 14, 2021

China Leon Inspection Holding isn’t the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider buys, might be just the ticket.

Does China Leon Inspection Holding Pride itself on Strong Insider Ownership?

I like to look at how many shares insiders own in a company, to help inform my perspective on their alignment with insiders. Strong insider ownership often makes company management more concerned with the interests of shareholders. China Leon Inspection Holding insiders own 58% of the company, currently worth around HK $ 400 million based on the recent share price. This type of large insider ownership generally increases the chances that the business will be run in the best interests of all shareholders.

So what do China Leon Inspection Holding’s insider trading indicate?

It doesn’t mean much that no insider traded China Leon Inspection Holding shares in the past quarter. However, our analysis of transactions over the past year is encouraging. It would be great to see more insider buying, but overall it looks like insiders at China Leon Inspection Holding are reasonably well aligned (owning a significant share of the company’s stock) and optimistic for the future. . In addition to knowing the ongoing insider trading, it is helpful to identify the risks China Leon Inspection Holding faces. For example – China Leon Inspection Holding has 3 warning signs we think you should be aware.

If you would rather consult with another company – one with potentially superior finances – then don’t miss this free list of interesting companies, which have a HIGH return on equity and low leverage.

For the purposes of this article, insiders are the persons who report their transactions to the relevant regulatory body. We currently account for open market transactions and private assignments, but not derivative transactions.

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This Simply Wall St article is general in nature. It does not constitute a recommendation to buy or sell shares and does not take into account your goals or your financial situation. Our aim is to bring you long-term, targeted analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price sensitive companies or qualitative material. Simply Wall St has no position in any of the stocks mentioned.
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Do you have any feedback on this item? Are you worried about the content? Get in touch with us directly. You can also send an email to the editorial team (at) simplywallst.com.

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