Newsdesk, Author at Market Newsdesk

November 23, 2020 1:33 am

Nicox’s Licensee Bausch + Lomb Launches VYZULTA in Argentina

Press Release
Nicox’s Licensee Bausch + Lomb Launches VYZULTA^® in Argentina
November 23, 2020 – release at 7:30 am CET Sophia Antipolis, France Nicox SA (Euronext Paris: FR0013018124, COX), an international ophthalmology company, today announced that its exclusive global licensee Bausch + Lomb has launched VYZULTA^® (latanoprostene bunod ophthalmic solution), 0.024% in Argentina. Regulatory approval in Argentina was obtained in January 2020. VYZULTA^® is currently commercialized in the United States and Canada, and has also received approval in Hong Kong, Mexico, Taiwan and Ukraine for the reduction of intraocular pressure (IOP) in patients with open-angle glaucoma or ocular hypertension. Bausch + Lomb will continue seeking approvals in territories where the clinical data package, part of the U.S. New Drug Application, can be used for approval by the regulatory authorities. Under the terms of the exclusive license agreement with Bausch + Lomb, Nicox receives increasing tiered royalties of 6% to 12% on net global sales of VYZULTA plus up to $150 million in potential future milestones payments. Bausch + Lomb is a leading global eye health business of Bausch Health Companies Inc. (NYSE/TSX: BHC).
About Nicox
Nicox S.A. is an international ophthalmology company developing innovative solutions to help maintain vision and improve ocular health. Nicox’s lead program in clinical development is NCX 470, a novel, second-generation nitric oxide-donating bimatoprost analog, for lowering intraocular pressure in patients with glaucoma. The company is also developing NCX 4251, a proprietary formulation of fluticasone, for acute exacerbations of blepharitis. Nicox generates revenue from VYZULTA® in glaucoma, licensed exclusively worldwide to Bausch + Lomb, and ZERVIATE™ in allergic conjunctivitis, licensed in multiple geographies, including to Eyevance Pharmaceuticals, LLC, in the U.S. and Ocumension Therapeutics in the Chinese and in the majority of South East Asian markets. Nicox is headquartered in Sophia Antipolis, France, is listed on Euronext Paris (Compartment B: Mid Caps; Ticker symbol: COX) and is part of the CAC Healthcare, CAC Pharma & Bio and Next 150 indexes. For more information on Nicox, its products or pipeline, please visit: www.nicox.com.
Analyst coverage
Bryan, Garnier & Co Victor Floc’h Paris, France Cantor Fitzgerald Louise Chen New York, U.S. H.C. Wainwright & Co Yi Chen New York, U.S. Oppenheimer & Co Hartaj Singh New York, U.S.
The views expressed by analysts in their coverage of Nicox are those of the author and do not reflect the views of Nicox. Additionally, the information contained in their reports may not be correct or current. Nicox disavows any obligation to correct or to update the information contained in analyst reports.
Contacts
Nicox Gavin Spencer Executive Vice President, Chief Business Officer & Head of Corporate Development T +33 (0)4 97 24 53 00 [email protected]
Investors & Media United States & Europe LifeSci Advisors, LLC Mary-Ann Chang T +44 7483 284 853 [email protected]	Media France LifeSci Advisors, LLC Sophie Baumont M +33 (0)6 27 74 74 49 [email protected]
Forward-Looking Statements
The information contained in this document may be modified without prior notice. This information includes forward-looking statements. Such forward-looking statements are not guarantees of future performance. These statements are based on current expectations or beliefs of the management of Nicox S.A. and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Nicox S.A. and its affiliates, directors, officers, employees, advisers or agents, do not undertake, nor do they have any obligation, to provide updates or to revise any forward-looking statements. Risks factors which are likely to have a material effect on Nicox’s business are presented in the 3^rd chapter of the ‘Document d’enregistrement universel, rapport financier annuel et rapport de gestion 2019’ filed with the French Autorité des Marchés Financiers (AMF) on March 6, 2020 which are available on Nicox’s website (www.nicox.com).
Nicox S.A. Drakkar 2 Bât D, 2405 route des Dolines CS 10313, Sophia Antipolis 06560 Valbonne, France T +33 (0)4 97 24 53 00 F +33 (0)4 97 24 53 99

Attachment

EN_VYZULTA Argentina Launch_20201123_F

November 23, 2020 1:33 am

CGG: Sercel Announces Global Launch of S-lynks Structural Health Monitoring System

SercelAnnounces Global Launch of S-lynksStructural Health Monitoring System

Paris,
Novem
ber
23
,
20
20

CGG has announced the launch by Sercel of S-lynks, a new solution for real-time monitoring of the structural integrity of buildings and infrastructure around the world.

With its embedded ultra-sensitive QuietSeis^® sensor, S-lynks can measure a structure’s ambient noise without the requirement to restrict access. This fully connected, wireless system is self-sustaining and can be deployed on all types of structures. The recorded data is then streamed to the cloud for processing and is immediately accessible for remote analysis.

Emmanuelle Dubu, Sercel CEO, said: “We are pleased to announce the launch of our S-lynks solution. With the aging of infrastructure caused by natural and human phenomena, the operators of these buildings and structures need to be able to monitor their integrity in real time. As the leading specialist in high-accuracy seismic sensors, Sercel is uniquely qualified to deliver solutions that overcome the challenges of predictive structural maintenance.”

About CGG

CGG (www.cgg.com) is a global geoscience technology leader. Employing around 4,
0
00 people worldwide, CGG provides a comprehensive range of data, products, services and equipment that supports the discovery and responsible management of the Earth’s natural resources. CGG is listed on the Euronext Paris SA (ISIN: 0013181864).

Contacts

Group Communications & Investor Relations

Christophe Barnini
Tel: + 33 1 64 47 38 11
E-Mail: [email protected]

Attachment

CGG – Press Release pdf version

November 23, 2020 1:03 am

argenx Enters Into Agreement To Acquire Priority Review Voucher

November 23, 2020

Breda, the Netherlands / Ghent, Belgium – argenx (Euronext & Nasdaq: ARGX), a global immunology company committed to improving the lives of people suffering from severe autoimmune diseases and cancer, today announced that the company has agreed to acquire a U.S. Food and Drug Administration (FDA) Priority Review Voucher (PRV) from Bayer Healthcare Pharmaceuticals, Inc for $98 million. A PRV entitles the holder to FDA priority review of a single New Drug Application or Biologics License Application (BLA), which reduces the target review time and may potentially lead to an expedited approval.

argenx expects to redeem the PRV for a future marketing application for its FcRn antagonist efgartigimod. It will not be used for the BLA filing of intravenous efgartigimod in generalized myasthenia gravis, which is on track to be submitted in 2020.

“Efgartigimod has the potential to offer a new therapy option to patients with severe autoimmune diseases. We are currently advancing both an intravenous and subcutaneous formulation, which we believe will capture variability in patient preferences around dosing schedule and convenience, and will allow us to reach the most number of patients. Through this investment in a PRV, we’ll be able to seek expedited review of a future marketing application and build additional optionality into our development plans for efgartigimod,” said Tim Van Hauwermeiren, Chief Executive Officer of argenx.

The closing of the acquisition of the PRV is subject to customary closing conditions, including clearance under the Hart-Scott Rodino (HSR) Antitrust Improvements Act.

About Efgartigimod

Efgartigimod is an investigational antibody fragment designed to reduce disease-causing immunoglobulin G (IgG) antibodies and block the IgG recycling process. Efgartigimod binds to the neonatal Fc receptor (FcRn), which is widely expressed throughout the body and plays a central role in rescuing IgG antibodies from degradation. Blocking FcRn reduces IgG antibody levels representing a logical potential therapeutic approach for several autoimmune diseases known to be driven by disease-causing IgG antibodies, including: myasthenia gravis (MG), a chronic disease that causes muscle weakness; pemphigus vulgaris (PV), a chronic disease characterized by severe blistering of the skin; immune thrombocytopenia (ITP), a chronic bruising and bleeding disease; and chronic inflammatory demyelinating polyneuropathy (CIDP), a neurological disease leading to impaired motor function.

About argenx

argenx is a global immunology company committed to improving the lives of people suffering from severe autoimmune diseases and cancer. Partnering with leading academic researchers through its Immunology Innovation Program (IIP), argenx aims to translate immunology breakthroughs into a world-class portfolio of novel antibody-based medicines. argenx is evaluating efgartigimod in multiple serious autoimmune diseases, and cusatuzumab in hematological cancers in collaboration with Janssen. argenx is also advancing several earlier stage experimental medicines within its therapeutic franchises. argenx has offices in Belgium, the United States, and Japan. For more information, visit www.argenx.com and follow us on LinkedIn at https://www.linkedin.com/company/argenx/.

For further information, please contact:

Beth DelGiacco, Vice President, Corporate Communications & Investor Relations
+1 518 424 4980
[email protected]

Joke Comijn, Director Corporate Communications & Investor Relations (EU)
+32 (0)477 77 29 44
+32 (0)9 310 34 19
[email protected]

Forward-looking Statements

The contents of this announcement include statements that are, or may be deemed to be, forward-looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms believes, estimates, anticipates, expects, intends, may, will, or should, and include statements argenx makes concerning the closing of the acquisition of the PRV; the expected benefits of the PRV; the timing of the
BLA filing of IV efgartigimod in generalized myasthenia gravis; the timing and outcome of FDA feedback regarding its proposed strategy for a bridging study between the intravenous (IV) and subcutaneous (SC) formulations of efgartigimod in gMG; the expected benefits of IV and SC formulations of efgartigimod; the therapeutic potential of its product candidates; and the intended results of its strategy.
By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. argenx’s actual results may differ materially from those predicted by the forward-looking statements as a result of various important factors, including the ability to satisfy closing conditions for the acquisition of the PRV, the occurrence of any event that could give rise to the termination of the PRV acquisition agreement, the ability to recognize the anticipated benefits of the PRV acquisition, the effects of the COVID-19 pandemic, the inherent uncertainties associated with preclinical and clinical trial and product development activities and regulatory approval requirements; argenx’s reliance on collaborations with third parties; estimating the commercial potential of argenx’s product candidates; argenx’s ability to obtain and maintain protection of intellectual property for its technologies and drugs; argenx’s limited operating history; and argenx’s ability to obtain additional funding for operations and to complete the development and commercialization of its product candidates. A further list and description of these risks, uncertainties and other risks can be found in argenx’s U.S. Securities and Exchange Commission (SEC) filings and reports, including in argenx’s most recent annual report on Form 20-F filed with the SEC as well as subsequent filings and reports filed by argenx with the SEC. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. argenx undertakes no obligation to publicly update or revise the information in this press release, including any forward-looking statements, except as may be required by law.

November 23, 2020 1:03 am

Genenta to Appoint Stephen Squinto, Experienced Biotech Executive and Investor, as Chairman

MILAN, Italy and NEW YORK, Nov. 23, 2020 (GLOBE NEWSWIRE) — Genenta Science, a clinical-stage biotechnology company pioneering the development of a hematopoietic stem progenitor cell gene therapy for cancer (Temferon™), announced that highly experienced biotech executive and investor Stephen Squinto, PhD joint Genenta and will be appointed as Chairman of its Board of Directors.

The appointment will be effective with the approval of the Genenta Shareholders’ Meeting. Pierluigi Paracchi, currently Chairman and Chief Executive Officer of Genenta, will continue to serve as CEO.

Dr Squinto is currently Executive Partner of the healthcare investment company OrbiMed Advisors and has more than 25 years’ experience in the biotech industry, including as Chief Executive Officer of the gene therapy company Passage Bio. He was a co-founder of Alexion Pharmaceuticals, where he served as Chief Global Operations Officer and Global Head of Research, and previously held several senior leadership positions at Regeneron Pharmaceuticals.

Dr Squinto currently serves on the Board of Directors of a several biotech and healthcare companies and has received numerous honors and awards from academic and professional organizations for his scientific work. He received his PhD in Biochemistry and Biophysics from Loyola University of Chicago.

Pierluigi Paracch
i, CEO of Genenta, said: “I am delighted to welcome Steve Squinto to Genenta as our new Chairman. Steve will provide valuable input and guidance to the development on Genenta, based on his outstanding and extensive time in biotech industry. In particular, his time as CEO of the gene therapy company Passage Bio provides a clear parallel to Genenta, as we continue to develop the stem cell gene therapy Temferon™.”

Stephen Squinto said: “It as honor to be invited to be Chairman of Genenta, a truly exciting company which has the potential to revolutionize the way we treat cancer through its novel immuno-gene therapy Temferon™. I am looking forward to working with the outstanding team already in place to progress this treatment, which has potential against a broad range of tumors both as first line and as combination therapy, further through clinical trials and towards market.”

About Genenta Science

Genenta (www.genenta.com) is a clinical-stage biotechnology company pioneering the development of a proprietary hematopoietic stem cell gene therapy for cancer. Temferon™ is based on ex-vivo gene transfer into autologous hematopoietic stem/progenitor cells (HSPCs) to deliver immunomodulatory molecules directly via tumor-infiltrating monocytes/macrophages (Tie2 Expressing Monocytes – TEMs). Temferon, which is under investigation in a Phase I/II clinical trial in newly diagnosed Glioblastoma Multiforme patients, is not restricted to pre-selected tumor antigens nor type and may reach solid tumors, one of the main unresolved challenge in immuno oncology. Based in Milan, Italy, and New York, USA, Genenta has raised €33.6 million (~$40 million ) in three separate rounds of financing.

Investor Relator – LifeSci Advisors:

Mary-Ann Chang, CFA
Managing Director
+44 7483 28.48.53
[email protected]

Genenta Media/Investor Contact:

Stefania Mazzoleni, PhD
+39 339 709.59 31
[email protected]

GENENTA SCIENCE Srl

OSR – DiBit 1 – Via Olgettina, 58 – 20132 Milan (Italy)
LaunchLabs – Alexandria Center, 14th Floor
430 East 29th Street – New York, NY 10016 (USA)

November 23, 2020 1:00 am

Naspers Limited’s (JSE: NPN; LSE: NPSN) Subsidiary Prosus Today Announced Launch of Share Repurchase and Share Purchase

Naspers Limited’s (JSE: NPN; LSE: NPSN) Subsidiary Prosus Today Announced Launch of Share Repurchase and Share Purchase

CAPE TOWN, South Africa–(BUSINESS WIRE)–
Shareholders are referred to the announcement issued by Naspers’s subsidiary Prosus N.V. (Prosus) today in respect of the launch of:

an on-market Prosus ordinary share N repurchase programme of up to US$1.37 billion from its free-float shareholders (the Share Repurchase); and
an on-market Naspers Limited (Naspers) N ordinary share purchase programme of up to US$3.63 billion (the Share Purchase, together with the Share Repurchase, the Transaction).

The board of directors of Prosus (the Prosus Board) is of the view that the Transaction is, among other things, an investment in the group’s current strong internet portfolio, which is a sensible use of capital given full market valuations in consumer tech M&A, and the sizeable discount to the group’s net asset value (NAV). Prosus has a track record of generating good returns by investing across the consumer internet space. Prosus also takes a long-term approach to capital allocation across its operations, investments, and this approach now extends to its asset base – directly and indirectly via its own stock. The Prosus Board believes that the Transaction will generate value for its shareholders.

Prosus has appointed intermediaries to execute the Transaction within parameters set by it, allowing the execution of (re)purchases in the open market during open and closed periods. These intermediaries will make their trading decisions independently from, and uninfluenced by, Prosus and Naspers.

The Share Purchase will commence on 24 November 2020 and end on 26 November 2021, or sooner if the maximum consideration under the Share Purchase is reached before then.

The Naspers N ordinary shares held by Prosus after having been purchased under the Share Purchase will constitute treasury shares under the JSE Listings Requirements. Prosus intends not to exercise any voting rights attaching to the Naspers N ordinary shares acquired under the Share Purchase.

The Share Purchase will be implemented in accordance with, and subject to, applicable law and regulations, as well as the authorities granted by the general meeting of shareholders of Naspers dated 21 August 2020, as it may be renewed.

The Share Purchase by Prosus constitutes a general repurchase of securities under the JSE Listings Requirements and will be implemented accordingly.

Statement by the directors of Naspers

Having regard to the decision of the Prosus Board to implement the Share Purchase and after considering the effects of the Transaction by Prosus, pursuant to the JSE Listings Requirements the board of directors of Naspers states that:

Naspers and its group will be able, in the ordinary course of business, to pay their debts as they become due for a period of 12 months following the date of this announcement;
the assets of Naspers and its group will be in excess of the liabilities of Naspers and its group for a period of 12 months following the date of this announcement;
the share capital and reserves of Naspers and its group will be adequate for ordinary business purposes for a period of 12 months following the date of this announcement;
the working capital of Naspers and its group will be adequate for ordinary business purposes for a period of 12 months following the date of this announcement; and
Naspers and its group have passed the solvency and liquidity test envisaged in the South African Companies Act, 2008, as amended, and since the test was performed there have been no material changes to the financial position of the Naspers group.

Cape Town, South Africa

23 November 2020

Sponsor: Investec Bank Limited

About Naspers

Established in 1915, Naspers has transformed itself to become a global consumer internet company and one of the largest technology investors in the world. Through Prosus, the group operates and invests globally in markets with long-term growth potential, building leading consumer internet companies that empower people and enrich communities. Prosus has a listing on Euronext Amsterdam and a secondary listing on the Johannesburg Stock Exchange and Naspers is the majority owner of Prosus.

In South Africa, Naspers is one of the foremost investors in the technology sector and is committed to building its internet and ecommerce companies in the country. These include Takealot, Mr D Food, Superbalist, OLX, Autotrader, Property24 and PayU, in addition to Media24, South Africa’s leading print and digital media business.

Naspers is also focused on stimulating South Africa’s local tech sector through Naspers Foundry. This is a R1.4 billion investment targeting early stage technology companies in South Africa that seek to address big societal needs. To help address youth unemployment in impoverished communities, in 2019, Naspers launched Naspers Labs, a social impact programme for young, unemployed South Africans aged between 17 and 25. Located in low income, urban settings, Naspers Labs provide a structured development journey enabling young people to enter the economy.

Naspers has a primary listing on the Johannesburg Stock Exchange (NPN.SJ) and a secondary listing on the A2X Exchange (NPN.AJ) in South Africa, and has an ADR listing on the London Stock Exchange (LSE: NPSN).

For more information, please visit www.naspers.com.

Disclaimer

Consideration includes transaction costs.

The information contained in this document may contain forward-looking statements, estimates and projections. Forward-looking statements involve all matters that are not historical and may be identified by the words “anticipate”, ”believe”, ”estimate”, ”expect”, ”intend”, ”may”, ”should”, ”will”, ”would” and similar expressions or their negatives, but the absence of these words does not necessarily mean that a statement is not forward-looking. These statements reflect Prosus’s intentions, beliefs or current expectations, involve elements of subjective judgement and analysis and are based upon the best judgement of Prosus as of the date of this document, but could prove to be wrong. These statements are subject to change without notice and are based on a number of assumptions and entail known and unknown risks and uncertainties. Therefore, you should not rely on these forward-looking statements as a prediction of actual results.

Any forward-looking statements are made only as of the date of this document and neither Prosus nor any other person gives any undertaking, or is under any obligation, to update these forward-looking statements for events or circumstances that occur subsequent to the date of this document or to update or keep current any of the information contained herein, any changes in assumptions or changes in factors affecting these statements and this document is not a representation by Prosus or any other person that they will do so, except to the extent required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201122005081/en/

Investor Enquiries

Eoin Ryan, Head of Investor Relations

+1 347-210-4305

Media Enquiries

Shamiela Letsoalo, Media Relations Director SA

+27 78 802 6310

KEYWORDS: Africa South Africa

INDUSTRY KEYWORDS: Technology Internet Professional Services Finance

MEDIA:

November 23, 2020 12:58 am

Prosus N.V. (Prosus) (Euronext Amsterdam: PRX; JSE: PRX) Today Announced the Launch of Share Repurchase and Share Purchase

Prosus N.V. (Prosus) (Euronext Amsterdam: PRX; JSE: PRX) Today Announced the Launch of Share Repurchase and Share Purchase

AMSTERDAM–(BUSINESS WIRE)–
On 30 October 2020, Prosus announced its intention to implement an on-market:

Prosus ordinary share N repurchase programme of up to US$1.37 billion from its free-float shareholders (the Share Repurchase); and
Naspers Limited (Naspers) N ordinary share purchase programme of up to US$3.63 billion (the Share Purchase, together with the Share Repurchase, the Transaction).

Prosus today announces the launch of the Transaction. The board of directors of Prosus (the Prosus Board) is of the view that the Transaction is, among other things, an investment in the group’s current strong internet portfolio, which is a sensible use of capital given full market valuations in consumer tech M&A, and the sizeable discount to the group’s net asset value (NAV). Prosus has a track record of generating good returns by investing across the consumer internet space. Prosus also takes a long-term approach to capital allocation across its operations, investments, and this approach now extends to its asset base – directly and indirectly via its own stock. The Prosus Board believes that the Transaction will generate value for its shareholders.

Each of the Share Repurchase and the Share Purchase will commence on 24 November 2020 and end on 26 November 2021, or sooner if the maximum consideration under the Share Repurchase or the Share Purchase, as applicable, is reached before then.

Prosus intends to cancel the Prosus ordinary shares N repurchased by it under the Share Repurchase in due course. The Naspers N ordinary shares held by Prosus after having been purchased under the Share Purchase will constitute treasury shares under the JSE Listings Requirements. Prosus intends not to exercise any voting rights attaching to the Naspers N ordinary shares acquired under the Share Purchase.

The Transaction will be implemented in accordance with, and subject to, applicable law and regulations, as well as the authorities granted by the general meeting of shareholders of Prosus dated 18 August 2020 and Naspers dated 21 August 2020, as these may be renewed.

Prosus will provide weekly updates on the Share Repurchase in accordance with the Market Abuse Regulation (as defined below) by means of press releases and announcements on the JSE’s Stock Exchange News Service (SENS), and, together with details on a daily basis, on the Prosus website (www.prosus.com).

JSE sponsor to Prosus

Investec Bank Limited

About Prosus

Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities. The group is focused on building meaningful businesses in the online classifieds, payments and fintech, and food delivery sectors in markets including India, Russia and Brazil. Through its ventures team investments, in areas including Edtech and health, Prosus actively seeks new opportunities to partner with exceptional entrepreneurs who are using technology to address big societal needs. Every day, millions of people use the products and services of companies that Prosus has invested in, acquired or built, including Avito, Brainly, BYJU’S, Codecademy, eMAG, Honor, iFood, LazyPay, letgo, Meesho, Movile, OLX, PayU, Red Dot Payments, Remitly, SimilarWeb, SoloLearn, Swiggy, and Udemy. For more information, please visit www.prosus.com.

Disclaimer

The Share Repurchase is being conducted in accordance with Articles 5(1) and 5(3) of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation) and Articles 2 to 4 of Commission Delegated Regulation (EU) 2016/1052 supplementing the Market Abuse Regulation with regard to regulatory technical standards for the conditions applicable to buy-back programmes and stabilisation measures (the Delegated Regulation). This document is issued in connection with the disclosure and reporting obligation set out in Article 2(1) of the Delegated Regulation. This document contains information that qualifies as inside information within the meaning of Article 7(1) of the Market Abuse Regulation.

Consideration includes transaction costs.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201122005080/en/

Enquiries

Investor Enquiries

Eoin Ryan, Head of Investor Relations

+1 347-210-4305

Media Enquiries

Sarah Ryan, International Media Relations

+ 31 6 29721038

KEYWORDS: Netherlands Europe

INDUSTRY KEYWORDS: Technology Internet Professional Services Finance

MEDIA:

November 23, 2020 12:48 am

Naspers Limited (JSE: NPN; LSE: NPSN) Today Announced Strong Results for the Six Months Ended 30 September 2020

Naspers Limited (JSE: NPN; LSE: NPSN) Today Announced Strong Results for the Six Months Ended 30 September 2020

CAPE TOWN, South Africa–(BUSINESS WIRE)–
Naspers Limited (JSE:NPN) (LSE:NPSN):

The group recovered well from a tough first quarter to accelerate revenue growth, improve profitability and cash-flow generation.

Strong performance in uncertain times:

Group revenue grew 32% to US$13.0bn (HY20: US$10.2bn), with strong growth across food delivery, etail and education.
- Prosus revenues grew 32% to US$12.7bn (HY20: US$9.9bn)
- 141% revenue growth of food delivery
- 69% revenue growth in etail
- 54% revenue growth in edtech

Group trading profit increased by 42% to US$2.6bn (HY20: US$1.9bn).

Core headline earnings were US$1.6bn (HY20: US$1.7bn) driven by improved profitability from our ecommerce units and the growing contribution from Tencent. The year-on-year 5% decrease reflects that Naspers owns 72.66% of Prosus in the current financial year and owned 100% in the prior year.

Free cash flow jumped from US$19m to US$292m driven by lower food losses, strong working-capital management, and US$81m increase in Tencent dividend.

Bob van Dijk, Group Chief Executive Officer, commented:

“Our strong performance reflects the resilience and adaptability of the group and of our teams to effectively navigate challenging times. We entered the pandemic with financial strength and good momentum and in the second half of the period, our businesses recovered well from the initial impact of Covid-19 and are now fundamentally stronger than they were going into the pandemic.

The pandemic has accelerated activity in the consumer internet space, benefitting our businesses. We have seen particularly strong growth in food delivery, online payments, etail, and edtech and, throughout the period, we continued to invest for long-term growth. Looking ahead, we will continue to look after our people and support the communities we serve through uncertain times and we are focused on emerging well from the pandemic.”

Several companies had stand out performances:

iFood grew revenues by 234% YoY with KPIs including order frequency and order value hitting record levels.
PayU GPO grew revenues 48% as people used cashless payment methods.
Udemy grew enrolments more than 400%.
BYJU’S saw 180% growth in students on top of already high growth rates.

Disciplined investment for long-term growth:

Invested ~US$600m to strengthen our businesses.

Classifieds
- Merged letgo and OfferUp in the US and led a US$120m investment round for a 35% fully diluted stake in the combined business which is well-positioned for growth with national reach.
- Injected our MENA classifieds assets into EMPG (Emerging Markets Property Group) for a 39% fully diluted stake and participated in a US$150m financing round valuing the business at over US$1bn.
- Post the end of the period, OLX Brazil closed the US$520m acquisition of leading real-estate vertical Grupo Zap, announced in March 2020.

Payments and fintech
- Additional investment of US$53m in Remitly.

Edtech
- Stepped up our total investment to more than US$1bn and seven companies in this fast-growing sector.

Strong balance sheet:

Net cash position of US$4.6bn.
Undrawn US$2.5bn revolving credit facility.
In July, Prosus successfully raised more than US$2bn in debt, comprising its longest-dated US dollar offering to date and its debut euro notes offering.

Basil Sgourdos, Group Chief Financial Officer, said:

“The group delivered strong results, with group revenues growing 32% to US$13bn, trading profit growing 42% to US$2.6bn, and core headline earnings of US$1.6bn.

Despite a tough first quarter, strong recovery in the second quarter resulted in ecommerce revenue growth of 52% for the reporting period compared to the same period last year. Notably, food delivery nearly doubled revenue growth while trading losses improved by US$91m.

We remained disciplined on capital allocation and ended the period with a strong balance sheet, giving us financial flexibility as we move forwards. Given our strong cash position, the full market valuations in consumer internet M&A and a widening of our consolidated discount to net-asset-value, after the end of the period we announced a substantial US$5bn buy back of our own stock to invest in our strong portfolio and return value to shareholders. We remain fully focused on value creation through delivering continued long-term growth and by reducing the discount.”

Donations to support government responses to Covid-19

On 30 March 2020, Naspers committed R1.5 billion of emergency aid in support of the South African government’s response to the Covid-19 pandemic. This commitment has been delivered, with R500 million donated to government’s Solidarity Fund, and R1 billion worth of PPE provided to South Africa’s front-line healthcare workers.

The group also donated ₹1bn in India to the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund created by Prime Minister Narendra Modi to alleviate the suffering of those affected by the Covid-19 crisis and to aid India’s emergency response.

Phuthi Mahanyele-Dabengwa, CEO, South Africa:

“Naspers is deeply committed to South Africa. We believe our country’s technology ecosystem has a vibrant future with many attributes supporting growth in this sector: access to technology talent, a relatively low cost of doing business, and a society that is digitising rapidly. We are seeing this play out in the growth of ecommerce, fintech, and education technology platforms. Through Naspers Foundry, we are proud to invest in the next wave of home-grown tech businesses and we are excited by a rich pipeline of prospects. We will continue to support South Africa on the road to economic recovery and inclusive growth.”

Outlook

The current operating environment remains uncertain and the longer-term social and economic impact of Covid-19 is unclear. The group is on a solid financial footing and the fundamentals of the underlying businesses are strong, with all well-positioned to build on the accelerating shift to online triggered by the pandemic.

Management remains focused on value creation for shareholders through driving profitability and cash generation in the group’s more-established ecommerce businesses, while investing for growth in food delivery, classifieds transactions, credit, and edtech.

In recent months, the group’s consolidated discount to net-asset-value has widened and management is committed to addressing the structural issues causing this.

On 30 October 2020, the group announced its intention for Prosus to acquire up to US$5bn of Prosus and Naspers shares. This will be implemented by the acquisition of up to US$1.4bn Prosus N ordinary shares and US$3.6bn Naspers N ordinary shares on the market. The program will be executed in an optimal manner that can comfortably be done in the market.

The complete results are available at www.naspers.com/investors

Follow Naspers on LinkedIn

-ends-

Notes on the numbers

All growth percentages are shown in local currency terms and adjusted for acquisitions and disposals.
All amounts are shown on an economic-interest basis (i.e. including a proportionate consolidation of the contribution from associates and joint ventures).
Naspers owns 72.66% of Prosus.

About Naspers

Established in 1915, Naspers has transformed itself to become a global consumer internet company and one of the largest technology investors in the world. Through Prosus, the group operates and invests globally in markets with long-term growth potential, building leading consumer internet companies that empower people and enrich communities. Prosus has its primary listing on Euronext Amsterdam and a secondary listing on the Johannesburg Stock Exchange and Naspers is the majority owner of Prosus.

For more information, please visit www.naspers.com

Naspers Foundry

Naspers Foundry is an early-stage business funding initiative focused on technology entrepreneurs in South Africa. Over the past year, Naspers Foundry invested R30 million in SweepSouth, an online home and business cleaning services platform that connects clients with trusted, reliable cleaners.

Visit www.sweepsouth.com for more information.

After year-end, in May 2020, Naspers Foundry invested a further R100 million in Aerobotics, an agritech company that provides tree crop health and yield intelligence data to the agricultural industry using drone and satellite-enabled AI technology.

Visit www.aerobotics.com for more information.

In September this year, Naspers Foundry closed a transaction in Food Supply Network on undisclosed terms. The independent B2B marketplace integrates ordering systems of manufacturers, distributors, and buyers (restaurants, hotels and retailers) of food products.

Visit https://foodsupply.co.za/za/ for more information.

Naspers Labs

Naspers Labs is the group’s flagship social impact programme designed to transform and launch South Africa’s unemployed youth into economic activity. Currently in its pilot phase, Naspers has invested R69 million in Naspers Labs and has set up four labs. To date, 2,030 young people have completed the Naspers Labs programme and 956 employment placements have been made. As a result of Covid-19, Naspers Labs is expanding their offering to train youth in Cyber Security, Software Development and Cloud Computing, through remote learning.

Visit www.nasperslabs.org for more information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201122005085/en/

For more information on our results please contact:

Eoin Ryan

Head of Investor Relations

Tel: +1 347-210-4305

Email: [email protected]

Sarah Ryan

Media Relations, International

Mobile: +31 6 297 21038

Email: [email protected]

Shamiela Letsoalo

Media Relations, South Africa

Mobile +27 78 802 6310

Email: [email protected]

KEYWORDS: Africa United States South Africa North America

INDUSTRY KEYWORDS: Online Retail Retail Technology Other Retail Other Technology Internet

MEDIA:

November 23, 2020 12:48 am

Prosus N.V. (Prosus) (Euronext Amsterdam: PRX; JSE: PRX) Today Announced Strong Results for the Six Months Ended 30 September 2020

Prosus N.V. (Prosus) (Euronext Amsterdam: PRX; JSE: PRX) Today Announced Strong Results for the Six Months Ended 30 September 2020

AMSTERDAM–(BUSINESS WIRE)–
The group recovered well from a tough first quarter to accelerate revenue growth, improve profitability and cash-flow generation.

Strong performance in uncertain times:

Revenues increased 32% to US$12.7bn (HY20: US$9.9bn), with strong growth across food delivery, etail and education.
- 141% revenue growth in food delivery
- 70% revenue growth in etail
- 54% revenue growth in edtech
Trading profit grew by 43% to US$2.7bn (HY20: US$1.9bn).
Core headline earnings increased 29% to US$2.2bn (HY20: US$1.7bn) driven by improved profitability from our ecommerce units and the growing contribution from Tencent.
Free cash flow jumped from US$14m to US$370m driven by lower food losses, strong working-capital management, and US$81m increase in Tencent dividend.

Bob van Dijk, Group Chief Executive Officer, commented:

“The pandemic has accelerated activity in the consumer internet space, benefitting our businesses. We have seen particularly strong growth in food delivery, online payments, etail, and edtech and, throughout the period, we continued to invest for long-term growth. Looking ahead, we will continue to look after our people and support the communities we serve through uncertain times and we are focused on emerging well from the pandemic.”

Several companies had stand out performances:

iFood grew revenues by 234% YoY with KPIs including order frequency and order value hitting record levels.
PayU GPO grew revenues 48% as people used cashless payment methods.
Udemy grew enrolments more than 400%.
BYJU’S saw 180% growth in students on top of already high growth rates.

Disciplined investment for long-term growth:

Invested ~US$600m to strengthen our businesses.

Classifieds
- Merged letgo and OfferUp in the US and led a US$120m investment round for a 35% fully diluted stake in the combined business, which is well-positioned for growth with national reach.
- Injected our MENA classifieds assets into EMPG (Emerging Markets Property Group) for a 39% fully diluted stake and participated in a US$150m financing round valuing the business at over US$800m.
- Post the end of the period, OLX Brazil closed the US$520m acquisition of leading real estate vertical Grupo Zap, announced in March 2020.

Payments and fintech
- Additional investment of US$53m in Remitly.

Edtech
- Stepped up our total investment to more than US$1bn and seven companies in this fast-growing sector.

Strong balance sheet:

Net cash position of US$4.3bn.
Undrawn US$2.5bn revolving credit facility.
In July, Prosus successfully raised more than US$2bn in debt, comprising its longest-dated US dollar offering to date and its debut euro notes offering.

Basil Sgourdos, Group Chief Financial Officer, said:

“The group delivered strong results, with revenues growing 32% to US$12.7bn, trading profit growing 43% to US$2.7bn, and core headline earnings increasing 29% to US$2.2bn.

“Despite a tough first quarter, strong recovery in the second quarter resulted in ecommerce revenue growth of 51% for the reporting period compared to the same period last year. Notably, food delivery nearly doubled revenue growth while trading losses improved by US$91m.

“We remained disciplined on capital allocation and ended the period with a strong balance sheet, giving us financial flexibility as we move forwards. Given our strong cash position, the full market valuations in consumer internet M&A and a widening of our consolidated discount to net-asset-value, after the end of the period we announced a substantial US$5bn buyback of our own stock to invest in our strong portfolio and return value to shareholders. We remain fully focused on value creation, through delivering continued long-term growth and by reducing the discount.”

Outlook

In recent months, the group’s consolidated discount to net-asset-value has widened and management is committed to addressing the structural issues causing this.

The complete results are available at www.prosus.com/investors.

Follow Prosus on LinkedIn.

Notes on the numbers

All growth percentages are shown in local currency terms and adjusted for acquisitions and disposals.
All amounts are shown on an economic-interest basis (i.e. including a proportionate consolidation of the contribution from associates and joint ventures).

About Prosus

The group is focused on building meaningful businesses in the online classifieds, food delivery, and payments and fintech sectors in markets including India, Russia and Brazil. Through its ventures team, Prosus invests in areas including edtech and health, Prosus actively seeks new opportunities to partner with exceptional entrepreneurs who are using technology to improve people’s daily lives.

Every day, millions of people use the products and services of companies that Prosus has invested in, acquired or built, including Avito, Brainly, BYJU’S, Bykea, Codecademy, DappRadar, dott, ElasticRun, eMAG, Eruditus, Honor, iFood, Klar, LazyPay, letgo, Meesho, Movile, OLX, PayU, Red Dot Payment, Remitly, SimilarWeb, Shipper, Skillsoft, SoloLearn, Swiggy, and Udemy.

Hundreds of millions of people have made the platforms of its associates a part of their daily lives. For listed companies where we have an interest, please see: Tencent (www.tencent.com; SEHK:00700), Mail.ru (www.corp.mail.ru; LSE:MAIL), Trip.com Group Limited (“Trip.com”) (NASDAQ:TCOM), and DeliveryHero (www.deliveryhero.com; Xetra:DHER).

Today, Prosus companies and associates help improve the lives of around a fifth of the world’s population.

Prosus has a primary listing on Euronext Amsterdam (AEX:PRX) and a secondary listing on the Johannesburg Stock Exchange (XJSE:PRX), and is majority owned by Naspers.

For more information, please visit www.prosus.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201122005082/en/

For more information on our HY2021 year results please contact:

Eoin Ryan

Head of Investor Relations

Tel: +1 347-210-4305

Email: [email protected]

Sarah Ryan

Media Relations, International

Mobile: +31 6 297 21038

Email: [email protected]

Shamiela Letsoalo

Media Relations, South Africa

Mobile +27 78 802 6310

Email: [email protected]

KEYWORDS: Russia South Africa South America Africa Brazil North America United States Asia Pacific Europe India Netherlands California

INDUSTRY KEYWORDS: Data Management Technology Other Retail Restaurant/Bar Training Other Construction & Property Food/Beverage Construction & Property Retail Other Professional Services Finance Banking Professional Services Other Technology Other Education Continuing University Software Education Online Retail

MEDIA:

November 23, 2020 12:27 am

Trina Solar Purchases 1.2 Billion units of 210mm Monocrystal Silicon Wafers in Cooperation with Zhonghuan

PR Newswire

CHANGZHOU, China, Nov. 23, 2020 /PRNewswire/ — On 19 November 2020, Changzhou Trina Solar Energy Co., Ltd. (hereinafter Trina Solar) and Tianjin Zhonghuan Semiconductor Co., Ltd., (hereinafter Zhonghuan) signed a framework contract. Under the contract, Trina Solar intends to purchase 210mm monocrystal silicon wafers from Tianjin Huanou International Silicon Material Co., Ltd., a subsidiary of Zhonghuan. During the proposed procurement period between January 2021 and December 2021, the estimated total contract value is about 6.552 billion yuan (including tax) with no less than 1.2 billion pieces.

Gao Jifan, Chairman of Trina Solar, and Shen Haoping, General Manager of Zhonghuan, attended the signing ceremony held at Trina Solar’s headquarters in Changzhou.

Gao Jifan, Chairman of Trina Solar, said that the procurement of more than 1.2 billion units of 210mm monocrystal silicon wafers will provide a strong guarantee to implement the capacity planning of Trina Solar’s 210mm PV cells and modules, and to supply the offerings of Vertex ultra-high-power modules, meeting more customer demands for ultra-high-power modules in a timely manner. In this way, Trina Solar will be better positioned to create greater value for their customers. The photovoltaic industry has entered the 600W+ era with the technology further iterating and developing at an accelerated speed. Module design has always centered around the premise of improving system efficiency and reducing the cost of electricity generated per kilowatt hour. Additionally, module design thinking also necessitates breakthrough innovation, which is not only based on existing capacity and technology updates, but also on revolutionary application of new silicon wafer and battery technologies. Collaborative innovation between companies is needed to completely connect core areas such as R&D, manufacturing and application, so that the industrialization and marketization of modules can be accomplished more rapidly to generate profit and value for end customers. This is an inevitable trend in the progressive development of the industry.

Zhonghuan is a Chinese high-tech enterprise in the semiconductor energy-saving and new energy industry. It is also one of the manufacturers with the most complete range of monocrystal silicon products. The general manager, Shen Haoping, said, “Zhonghuan is in pursuit of long-term steady development, maintaining competitiveness in segment markets and achieving long-term success. The company upholds the professional spirit of serving customers and focusing on main businesses, attaching great importance to quality control. We look forward to achieving synergetic development with upstream and downstream enterprises in the photovoltaic industry chain, creating breakthroughs in areas such as manufacturing methods and technological innovation.”

Companies from all segments in the industrial chain are working toward a common goal, which is to promote the cost reduction of photovoltaic systems and electricity generated per kilowatt hour, and to continuously drive down the feed-in tariff. Together with Zhonghuan in the future, Trina Solar will further strengthen technical exchanges and cooperation, conduct corresponding technical research and product development, drive technological innovation in the photovoltaic industry, and expand the influence and application of advanced technologies in the photovoltaic industry to bring about a broader value-added space to the industry in the aim of jointly promoting the development of global new energy industry.

About Trina Solar

Founded in 1997, Trina Solar is the world leading PV and smart energy total solution provider. The company engages in PV products R&D, manufacture and sales; PV projects development, EPC, O&M; smart micro-grid and multi-energy complementary systems development and sales, as well as energy cloud-platform operation. In 2018, Trina Solar launched Energy IoT brand, established the Trina Energy IoT Industrial Development Alliance together with leading enterprises and research institutes in China and around the world, and founded the New Energy IoT Industrial Innovation Center. With these actions, Trina Solar is committed to working with its partners to build the energy IoT ecosystem and develop an innovation platform to explore New Energy IoT, as it strives to be a leader in global intelligent energy. For more information, please visit 

www.trinasolar.com

.

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SOURCE Trina Solar

November 23, 2020 12:08 am

Clean Power Capital Announces Appointment of Leading Clean Energy Entrepreneur Greg Nuttall to the PowerTap Advisory Board

VANCOUVER, British Columbia, Nov. 23, 2020 (GLOBE NEWSWIRE) — Clean Power Capital Corp. (CSE: MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean Power” or the “Company” or “MOVE”). The Company is pleased to appoint Mr. Greg Nuttall to the advisory board of PowerTap Hydrogen Fueling Corp. (“PowerTap”), its 90 percent owned subsidiary.

Mr. Nuttall is one of the founding CEO’s of the world’s first waste-to-fuel company. As CEO of Toronto-based Woodland Biofuels (www.woodlandbiofuels.com) (“Woodland”), Mr. Nuttall has taken Woodland’s ground breaking automotive fuel technology from drawing board to proven production. Along the way he has forged relationships around the globe with governments, key financial players, oil and gas companies, engineering & construction firms, and feedstock providers. Woodland has raised significant institutional capital from USA and Canadian cleantech funds, strategic investors, and Canadian governments.

Prior to becoming CEO of Woodland, Mr. Nuttall was a partner at Rubicon Investment Group, a merchant bank focused on accelerating the growth of the companies it acquires and invests in. Before this Mr. Nuttall was co-founder and CEO of a leading management consulting firm that helps large and mid-sized organizations in Canada and the United States. At the outset of his career Mr. Nuttall was an M&A and corporate finance lawyer. As a lawyer he practiced at Clifford Chance, one of the world’s largest law firms, where he was based in London, and at Torys, a leading corporate law firm based in Toronto. Mr. Nuttall earned his Master of International Laws degree at Cambridge University and is a Pegasus Scholar.

“I’m excited to work with PowerTap Hydrogen Fueling Corp. as they roll out hydrogen fueling stations using their leading PowerTap fueling technology. Hydrogen has immense potential as a transport fuel. Most important, renewable hydrogen reduces GHG emissions substantially compared to gasoline. One of the main obstacles to hydrogen’s adoption has always been the lack of fueling infrastructure to deliver it to end users – this has created a huge opportunity for PowerTap‘s technology,” Mr. Nuttall said. He continued, “I look forward to helping PowerTap capitalize on this opportunity – to start, by helping to develop key strategic partnerships in North America and around the world.”

“Greg Nuttall is a visionary in the clean fuel industry and we are honored to have him join our Advisory Board as we look to deploy our PowerTap onsite hydrogen generation and fueling technology across North America and beyond,” said Mr. Raghu Kilambi, CEO of PowerTap Hydrogen Fueling Corp. “Mr. Nuttall will introduce to PowerTap existing relationships with large North American truck stop and gas station operators, North American cleantech funds and other strategic relationships that he has developed over the past 15 years in clean fuel energy.”

Director Resignation

Clean Power also announces that Mr. Joe Perino has resigned from the board of directors of the Company, effective immediately. The Company would like to thank Mr. Perino for his contributions to the Company and wishes him well with his current projects.

About
PowerTap

The Company acquired a 90 percent interest in PowerTap on October 27, 2020 (see the Company’s news release on October 28, 2020). PowerTap is leading the charge to build out cost-effective hydrogen fueling infrastructure through its environmentally friendly intellectual property, product design for the modularized and lowest tier production cost of hydrogen, and launch plan. PowerTap technology-based hydrogen fueling stations are located in private enterprises and public stations (near LAX airport) in California, Texas, Massachusetts, and Maryland. Additional information about PowerTap may be found at its website at http://www.powertapfuels.com

ABOUT CLEAN POWER CAPITAL CORP.

Clean Power is an investment company, that specializes in investing into private and public companies opportunistically that may be engaged in a variety of industries, with a current focus in the health and renewable energy industries. In particular, the investment mandate is focused on high return investment opportunities, the ability to achieve a reasonable rate of capital appreciation and to seek liquidity in our investments. A copy of Clean Power’s amended and restated investment policy may be found under the Company’s profile at www.sedar.com.

ON BEHALF OF THE CLEAN POWER CAPITAL CORP. BOARD OF DIRECTORS

“Joel Dumaresq”

Joel Dumaresq CEO
+1 (604) 687-2038
i[email protected]

Learn more about Clean Power by visiting our website at: https://cleanpower.capital/

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Notice Regarding Forward Looking Information:

This press release contains “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Clean Power. Some assumptions include, without limitation, the development of hydrogen powered vehicles by vehicle makers, the adoption of hydrogen powered vehicles by the market, legislation and regulations favoring the use of hydrogen as an alternative energy source, the Company’s ability to build out its planned hydrogen fueling station network, and the Company’s ability to raise sufficient funds to fund its business plan. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur or be achieved. This press release contains forward-looking statements pertaining to, among other things, the timing and ability of the Company to complete any potential investments or acquisitions, if at all, and the timing thereof. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking information contained in this press release.

Although the Company believes that the material factors, expectations and assumptions expressed in such forward- looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.

The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward- looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.