Market Newsdesk

Kennedy Wilson Expands Global Debt Platform to $3 Billion With Launch of New European Partnership

New $700 million commitment from global institutional investor to focus on European debt opportunities

BEVERLY HILLS, Calif.–(BUSINESS WIRE)–
Global real estate investment company Kennedy Wilson (NYSE: KW) has expanded its global debt platform to over $3 billion. The platform, which includes partners across insurance and sovereign wealth, invests across the entire real estate debt capital structure in the U.S., UK and Europe, with $1.3 billion of loans currently deployed.

The expansion includes a new $700 million debt investment platform in partnership with a global institutional investor that will target loans secured by high-quality real estate in the UK and Europe. Kennedy Wilson expects to have an average ownership of 5-10% across its global debt platform and earns customary management fees in its role as investment manager.

“We are excited to build on our long track record of investing in debt opportunities and leverage our team’s flexibility and creativity to provide a wide range of capital solutions for the growing number of opportunities we see across our core UK and European markets today,” said Fiona D’Silva, Head of Investment – Europe, at Kennedy Wilson. “We are in a unique position as a debt provider in that we have an ownership interest in over $18 billion of real estate assets globally. We are therefore able to track industry and financing trends across multiple asset classes in real time within markets where we benefit from meaningful relationships and a strong local presence.”

The platform, the latest venture in Kennedy Wilson’s long history of debt investment activity, will provide financing solutions across the capital structure and risk spectrum. Together with its partners, Kennedy Wilson has completed approximately $7 billion in real estate related debt investments since 2010, including $4.3 billion across Europe.

About Kennedy Wilson

Kennedy Wilson (NYSE:KW) is a leading global real estate investment company. We own, operate, and invest in real estate through our balance sheet and through our investment management platform. We focus on multifamily and office properties located in the Western U.S., U.K., and Ireland. For further information on Kennedy Wilson, please visit: www.kennedywilson.com.

KW-IR

Special Note Regarding Forward-Looking Statements

Statements in this press release that are not historical facts are “forward-looking statements” within the meaning of U.S. federal securities laws. These forward-looking statements are estimates that reflect our management’s current expectations, are based on assumptions that may prove to be inaccurate and involve known and unknown risks. Accordingly, our actual results or performance may differ materially and adversely from the results or performance expressed or implied by these forward-looking statements, including for reasons that are beyond our control. For example, we may not be able to maintain our current acquisition or disposition pace or identify future properties to acquire on terms we consider attractive, and our current property portfolio may not perform as expected. Accordingly, you should not unduly rely on these statements, which speak only as of the date of this press release. We assume no duty to update the forward-looking statements, except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210714005186/en/

Investors

Daven Bhavsar, CFA

Vice President of Investor Relations

+1 (310) 887-3431

[email protected]

European Media

FTI Consulting

Dido Laurimore / Eve Kirmatzis

+44 20 3727 1000

[email protected]

U.S. Media

Emily Heidt

Director of Public Relations

+1 (310) 887-3499

[email protected]

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INDUSTRY KEYWORDS: Professional Services Residential Building & Real Estate Commercial Building & Real Estate Finance Construction & Property REIT

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CMC Networks® Selects Juniper Networks to Provide AI-Driven SD-WAN Solution to Support its Customers Internationally

First for Africa, AI-Managed Service Delivers Unparalleled Performance, Reliability and Scale While Lowering Costs Even in the Most Remote Communities

SUNNYVALE, Calif.–(BUSINESS WIRE)–Juniper Networks, (NYSE: JNPR) a leader in secure, AI-driven networks, announced today that CMC Networks, a global service provider offering market-leading networking solutions, is the first Juniper partner to offer a managed AI-driven SD-WAN solution in Africa. A dynamic and self-optimizing network will deliver a superior experience to CMC’s customers, allowing them to easily modify their services, add new locations and spin up and down network speeds. Time-to-market is significantly reduced, enabling CMC to provision services faster.

By leveraging Juniper’s unique Session Smart® Router technology driven by Mist AI, CMC is delivering a unique tunnelless solution that is designed for scale and agility, coupled with automated provisioning, management and troubleshooting for maximum uptime, superior performance of real-time traffic and lower operating costs in both rural and urban environments.

News highlights:

• CMC chose the Session Smart Router and standardized on Juniper’s STEP (Service and Topology Exchange Protocol) in order to navigate network traffic with real-time data information. This allows accurate and immediate decision making autonomously, minimizing delays to ensure that network traffic arrives at its destination in the most efficient way possible. This helps to ensure that CMC’s customers receive a SD-WAN service that is high-performing, secure and reliable.
• The Juniper solution includes Secure Vector Routing (SVR), a transformational new intelligent routing architecture that enables CMC’s network to differentiate the way it delivers applications and services to end users. The SVR allows a network to identify problems and automatically decide the most effective path to re-route traffic. This supports business applications without user intervention, in support of the best possible user experience.
• The Juniper® Session Smart Router (SSR) fuels an advanced, service-centric networking solution and Mist AI engine that takes software-defined routing and SD-WAN to a new level. The SSR enables agile, secure, and resilient WAN connectivity. With tunnelless SSR technology, each session is secured with zero trust access by default, providing the highest level of security. Additionally, eliminating tunnel overhead increases bandwidth capacity and enables an improved user experience.
• CMC has been rolling out Session Smart Routers in Africa for the last three years, leveraging the organization’s scale and footprint to enable digital transformation across the region. In the future, the company plans to broaden its footprint into additional regions and deliver even more AI-driven managed services powered by Juniper, including wireless access.
• CMC is in the process of planning the rollout of additional cloud-hosted services driven by Mist AI, including WAN Assurance and the Marvis™ Virtual Network Assistant. These further streamline the deployment, operations and troubleshooting of its AI-driven SD-WAN environment with zero touch provisioning, customizable service levels, self-driving operations and AI-driven support to proactively address problems before customers even know they exist.

Supporting Quotes:

“SD-WAN is not a new technology and every SD-WAN player gives customers speed and power on the network. However, digital transformation strategies require a high level of intelligence, support and the ability to underpin business-critical applications – attributes that many SD-WAN vendors can’t provide. Juniper’s AI-driven SD-WAN gives CMC a level of intelligence and operational insight that we haven’t seen before.”

Geoff Dornan, Chief Technology Officer, CMC Networks

“Juniper’s AI-driven SD-WAN solution, powered by our Session Smart Router and Mist AI, enables us to be laser-focused on optimizing user experience. We recognized early that networks must be application-aware to support the demands of the evolving enterprise and to deliver the highest levels of user experience. Juniper ticks all the necessary boxes by delivering on the promise of a truly intelligent network that adapts as user requirements change. Juniper is thrilled that our innovative work with CMC has yielded this much-needed solution to enable consistent and excellent user experiences, even in the most challenging geographies, and we look forward to continued collaboration.”

Sue Graham Johnston, Vice President and General Manager, Juniper Networks

Additional Resources:

CMC Networks: Connecting African & Middle Eastern Communities with Secure, Reliable SD-WAN (video)

About Juniper Networks

Juniper Networks is dedicated to dramatically simplifying network operations and driving superior experiences for end users. Our solutions deliver industry-leading insight, automation, security and AI to drive real business results. We believe that powering connections will bring us closer together while empowering us all to solve the world’s greatest challenges of well-being, sustainability and equality. Additional information can be found at Juniper Networks (www.juniper.net) or connect with Juniper on Twitter, LinkedIn and Facebook.

Juniper Networks, the Juniper Networks logo, Juniper, Junos, and other trademarks listed here are registered trademarks of Juniper Networks, Inc. and/or its affiliates in the United States and other countries. Other names may be trademarks of their respective owners.

Category-Service Provider

View source version on businesswire.com: https://www.businesswire.com/news/home/20210714005023/en/

Media Relations:

Pelin Murphy

Juniper Networks

+44 (0) 1372 385 686

[email protected]

 

KEYWORDS: North America United States Asia Pacific Europe Africa California

INDUSTRY KEYWORDS: Technology Mobile/Wireless Security Other Technology Telecommunications Software Networks Internet Hardware

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Glaukos Comments on the Centers for Medicare and Medicaid Services 2022 Proposed Physician Fee Schedule

SAN CLEMENTE, Calif.–(BUSINESS WIRE)–
Glaukos Corporation (NYSE: GKOS), an ophthalmic medical technology and pharmaceutical company focused on novel therapies for the treatment of glaucoma, corneal disorders and retinal diseases, today commented on the recently released Centers for Medicare and Medicaid Services (CMS) Calendar Year 2022 Medicare Physician Fee Schedule Proposed Rule. The Proposed Rule was released on July 13, 2021, and updates payment policies, payment rates and other provisions for services furnished under the Medicare Physician Fee Schedule on or after January 1, 2022. The Proposed Rule release is followed by a 60-day public comment period closing on September 13, 2021, which will culminate in CMS’ release of the Final Rule, which is expected to be announced by November 2021, for implementation on January 1, 2022. The Proposed Rule is therefore subject to change.

The Proposed Rule and accompanying Addenda include payment rates for two new Category I Current Procedural Terminology (CPT) codes, including 669X2 for non-complex cataract extraction in combination with the insertion of an aqueous drainage device and 669X1 for complex cataract extraction in combination with the insertion of an aqueous drainage device. Category I CPT Codes 669X2 and 669X1 will replace Category III codes 0191T and 0376T as the primary codes that physicians will use to seek reimbursement utilizing Glaukos’ trabecular micro-bypass technologies (iStent^®, iStent inject^®, iStent inject W) when used as approved in combination with cataract surgery.

Applying the CMS 2022 Proposed Rule’s assigned total facility Relative Value Units (RVUs) and associated conversion factor, Glaukos estimates a proposed 2022 physician fee for Category I CPT Code 669X2 of approximately $565.23, representing incremental physician fee payment for the insertion of an aqueous draining device of approximately $34.25 versus the proposed 2022 physician fee of approximately $530.98 for Category I CPT Code 66984 (non-complex cataract surgery alone).

“We are aware of and extremely disappointed with CMS’ proposed 2022 physician fees for the new Category I codes that cover our sight-saving trabecular micro-bypass technologies used in combination with cataract surgery,” said Thomas Burns, Glaukos president and chief executive officer. “While this is unwelcomed and unexpected news that we believe is unjustified, we are eager to engage with our key ophthalmic societies and are committed to exploring every option during the public comment period in hopes that medical providers across our network are paid appropriately for conducting these types of procedures. We remain steadfastly dedicated to transform the treatment of chronic eye diseases for the benefit of patients worldwide.”

This announcement does not include the Medicare Outpatient Prospective Payment System (OPPS) Proposed Rule for Calendar Year 2022, which will include proposed facility fee payments for services furnished in both the hospital outpatient department (HOPD) and ambulatory surgical center (ASC) settings. Glaukos expects the 2022 Medicare OPPS Proposed Rule to be released by CMS over the coming days to weeks.

About Glaukos

Glaukos (www.glaukos.com) is an ophthalmic medical technology and pharmaceutical company focused on novel therapies for the treatment of glaucoma, corneal disorders and retinal diseases. The company pioneered Micro-Invasive Glaucoma Surgery, or MIGS, to revolutionize the traditional glaucoma treatment and management paradigm. Glaukos launched the iStent^®, its first MIGS device, in the United States in 2012, its next-generation iStent inject^® device in the United States in 2018, and most recently, the iStent inject W device in 2020. In corneal health, Glaukos’ proprietary suite of single-use, bio-activated pharmaceuticals are designed to strengthen, stabilize and reshape the cornea through a process called corneal collagen cross-linking to treat corneal ectatic disorders and correct refractive conditions. Glaukos is leveraging its platform technology to build a comprehensive and proprietary portfolio of micro-scale surgical and pharmaceutical therapies in glaucoma, corneal health and retinal disease.

Forward-Looking Statements

All statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. Although we believe that we have a reasonable basis for forward-looking statements contained herein, we caution you that they are based on current expectations about future events affecting us and are subject to risks, uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control, that may cause our actual results to differ materially from those expressed or implied by forward-looking statements in this press release. These potential risks and uncertainties include, without limitation, the timing and extent to which obtain regulatory approval for investigational products, our ability to successfully commercialize such products, the ability to obtain and maintain adequate financial coverage and reimbursement for our products, and the continued efficacy and safety profile of our products. These and other risks, uncertainties and factors related to Glaukos and our business are described in detail under the caption “Risk Factors” and elsewhere in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, which was filed with the Securities and Exchange Commission (SEC) on May 6, 2021, and our Annual Report on Form 10-K for the year ended December 31, 2020, which was filed with the SEC on March 1, 2021. Our filings with the Securities and Exchange Commission are available in the Investor Section of our website at www.glaukos.com or at www.sec.gov. In addition, information about the risks and benefits of our products is available on our website at www.glaukos.com. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. You are cautioned not to place undue reliance on the forward-looking statements in this press release, which speak only as of the date hereof. We do not undertake any obligation to update, amend or clarify these forward-looking statements whether as a result of new information, future events or otherwise, except as may be required under applicable securities law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210713006250/en/

Investor Contact:

Chris Lewis

Sr. Director, Investor Relations & Corporate Strategy & Development

(949) 481-0510

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Medical Devices Health Surgery Pharmaceutical Optical Biotechnology

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Posted on July 14, 2021 2:03 am

Hologic Obtains European CE Mark for Use of Saliva Samples with COVID-19 Test

Hologic Obtains European CE Mark for Use of Saliva Samples with COVID-19 Test

MARLBOROUGH, Mass.–(BUSINESS WIRE)–
Hologic, Inc. (Nasdaq: HOLX) has obtained a CE Mark for the use of saliva samples with the Aptima® SARS-CoV-2 assay in Europe. The Aptima SARS-CoV-2 test is a molecular diagnostic assay that detects the genetic material of the pathogen causing COVID-19. The test runs on the fully automated Panther^® system.

“This new CE Mark demonstrates our commitment to providing European consumers and healthcare providers as many options as possible to manage the ongoing pandemic,” said Jan Verstreken, Hologic’s group president, International. “While vaccination is helping stem the tide of COVID-19, we envision that testing will continue to play an important role, particularly in screening programs needed to reopen society.”

Collection of saliva is easy, noninvasive and painless. The availability of this alternative specimen type should help facilitate screening in schools, workplaces and other settings. Certain European health authorities have determined that the established assay performance with saliva and the ease of obtaining the sample make saliva suitable for programs that use repeated screenings. The Aptima SARS-CoV-2 assay is also CE-marked for use with nasopharyngeal and nasal swabs as well as additional specimen types.

Hologic has expanded manufacturing capability to produce Aptima tests in large quantities and has shipped more than 100 million Aptima COVID-19 tests globally since the spring of 2020. Approximately 2,600 Panther systems have been installed in clinical diagnostic laboratories around the world.

For more information on the Aptima assays, visit www.hologic.com.

About Hologic

Hologic, Inc. is an innovative medical technology company primarily focused on improving women’s health and well-being through early detection and treatment. For more information on Hologic, visit www.hologic.com.

Hologic Forward-Looking Statements

This press release may contain forward-looking information that involves risks and uncertainties, including statements about the use of Hologic’s diagnostic products. There can be no assurance these products will achieve the benefits described herein or that such benefits will be replicated in any particular manner with respect to an individual patient. The actual effect of the use of the products can only be determined on a case-by-case basis depending on the particular circumstances and patient in question. In addition, there can be no assurance that these products will be commercially successful or achieve any expected level of sales. Hologic expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements presented herein to reflect any change in expectations or any change in events, conditions or circumstances on which any such statements are based.

Hologic, The Science of Sure, Aptima, and Panther are registered trademarks of Hologic, Inc. in the United States and/or other countries.

SOURCE: Hologic, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210713006093/en/

Media Contact

Jane Mazur

Vice President, Divisional Communications

(508) 263-8764

Investor Contact

Michael Watts

Vice President, Investor Relations and Corporate Communications

(858) 410-8588

KEYWORDS: Europe United States North America Massachusetts

INDUSTRY KEYWORDS: Science Other Science Biotechnology General Health Health Medical Devices Infectious Diseases Genetics

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Belden Announces €300 Million Private Offering of Senior Subordinated Notes

ST. LOUIS–(BUSINESS WIRE)–
Belden Inc. (NYSE: BDC), a leading global supplier of specialty networking solutions, today announced that, subject to market conditions, it intends to offer €300 million in aggregate principal amount of senior subordinated notes due 2031 (the “Notes”) for sale to eligible purchasers in a private offering (the “Notes Offering”).

Belden intends to use the net proceeds from the Notes Offering along with cash on hand to fund the redemption in full of its 2.875% senior subordinated notes due 2025 (the “2025 Notes”), pursuant to the terms of the Indenture relating to the 2025 Notes.

The Notes to be offered have not been registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws; and unless so registered, the Notes may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes are expected to be eligible for resale to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.

This announcement shall not constitute an offer to sell or a solicitation of an offer to buy any of the Notes, nor shall there be any sale of the Notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. This announcement shall not constitute a notice of redemption regarding the 2025 Notes.

In connection with the Notes Offering, the initial purchasers may engage in stabilizing transactions with a view to supporting the market price of the Notes at a level higher than that which might otherwise prevail. Any such stabilization action must be conducted in accordance with all applicable laws and rules.

About Belden

Belden Inc., a global leader in high-quality, end-to-end signal transmission solutions, delivers a comprehensive product portfolio designed to meet the mission-critical network infrastructure needs of industrial and enterprise markets. With innovative solutions targeted at reliable and secure transmission of rapidly growing amounts of data, audio and video needed for today’s applications, Belden is at the center of the global transformation to a connected world. Founded in 1902, the company is headquartered in St. Louis, USA, and has manufacturing capabilities in North and South America, Europe and Asia.

Forward Looking Statements

This release and any statements made by us concerning the subject matter of this release may contain forward-looking statements. In some cases these statements are identifiable through the use of words such as “anticipate,” “believe,” “estimate,” “forecast,” “guide,” “expect,” “intend,” “plan,” “project,” “target,” “can,” “could,” “may,” “should,” “will,” “would” and similar expressions. Forward-looking statements reflect management’s current beliefs and expectations and are not guarantees of future performance. Actual results may differ materially from those suggested by any forward-looking statements for a number of reasons. The forward-looking statements involve risks and uncertainties that affect operations, financial performance and other factors, as discussed in filings with the Securities and Exchange Commission (“SEC”).

For a more complete discussion of risk factors, please see our Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on February 16, 2021. Although the content of this release represents our best judgment as of the date of this release based on information currently available and reasonable assumptions, we give no assurances that the expectations will prove to be accurate. Deviations from the expectations may be material. For these reasons, Belden cautions readers to not place undue reliance on these forward-looking statements, which speak only as of the date made. Belden disclaims any duty to update any forward-looking statements as a result of new information, future developments, or otherwise, except as required by law.

MiFID II professionals/ECPs-only/No PRIIPs KID

Manufacturer target market (MIFID II and MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in European Economic Area or the United Kingdom.

Belden, Belden Sending All The Right Signals, and the Belden logo are trademarks or registered trademarks of Belden Inc. or its affiliated companies in the United States and other jurisdictions. Belden and other parties may also have trademark rights in other terms used herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210713006256/en/

Belden Investor Relations

314-854-8054

[email protected]

KEYWORDS: United States North America Missouri

INDUSTRY KEYWORDS: Data Management Technology Mobile/Wireless Networks Internet Hardware

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Buyer Consortium Updates Shareholders of Hollysys Automation Technologies With Additional Information Relating to Consent Solicitation

BEIJING–(BUSINESS WIRE)–
The buyer consortium (the “Consortium”) consisting of Mr. Shao Baiqing, Ace Lead Profits Limited, and CPE Funds Management Limited today issued a letter to shareholders of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (the “Company” or “Hollysys”) with additional information regarding the Consortium’s proposed acquisition of the Company and the consent solicitation. The Consortium strongly believes that the proposed acquisition is the best and only option to shareholders to achieve immediate liquidity on their investment, at a highly attractive premium and with far greater certainty. The Consortium reminds shareholders of the Company as of June 24, 2021 to sign, date and return the WHITE consent card as soon as possible before July 22, 2021.

The full text of the Consortium’s letter is as follows:

Dear Fellow Shareholders,

We, the buyer consortium (the “Consortium” or “we”) consisting of Mr. Shao Baiqing (“Mr. Shao”), Ace Lead Profits Limited (“Ace Lead”), and CPE Funds Management Limited (“CPE”) would like to remind you to please submit your consent to our resolutions concerning the proposed acquisition (the “Proposed Acquisition”) of all outstanding ordinary shares of the Company not already owned by the Consortium at a price of $17.10 per share in cash, by following the instructions on the WHITE consent card.

If you hold shares through a bank or broker (i.e., in “street-name” or as a “beneficial owner”) and have not yet received the Consortium’s consent materials by mail or email, please contact your bank or broker as soon as possible and request instructions regarding the WHITE consent card. If you are a record holder (i.e., you hold shares in your own name on the register of members of the Company), please promptly contact Innisfree M&A Incorporated (“Innisfree”), the firm assisting the Consortium with the consent solicitation, at the telephone number or email address below to request a copy of the WHITE consent card.

Additionally, in case it is helpful, we would like to share with all shareholders the information we have provided in response to certain limited inquiries we have received:

Q.		Will the results of the consent solicitation commit shareholders to the Proposed Acquisition?
		No. We would like to reiterate that the consent is non-binding as to the Proposed Transaction generally and the $17.10 per share offer price specifically. As noted in our June 29, 2021 press release (italic and bold font added for emphasis purposes): “This solicitation, if successful, will facilitate the Consortium’s efforts to proceed with the Proposed Acquisition despite the inaction of the board of directors of the Company (the “Board”). If shareholders holding more than 50% of the outstanding shares of the Company deliver their consents to the resolutions as provided in the consent card, such resolutions will become effective pursuant to the Company’s articles of association and the BVI Business Companies Act 2004. The intention of these resolutions is, among others, to limit the Board’s power to invoke and exercise rights pursuant to the Company’s existing “poison pill” in respect of the Proposed Acquisition. These approved resolutions, even after becoming effective, do not constitute an approval and authorization of the Proposed Acquisition by shareholders. Shareholders of the Company will be entitled to consider and vote upon the Proposed Acquisition at a special shareholder meeting to be called by the Board following the execution of a definitive merger agreement between the Consortium and the Company in respect of the Proposed Acquisition.”Shareholders may find the full text of our June 29, 2021 press release, as well as other information about our consent solicitation and the Proposed Acquisition, on the dedicated website at Hollysyspublicsolicitation.net.
Q.		Does the Consortium expect to conduct due diligence with respect to the value of its offer?
		Regarding the potential for due diligence and whether the Consortium would reconsider the offer price, we continue to believe that the Company will not allow us to conduct any meaningful due diligence in a timely or effective manner. However, if the Company were to present new, concrete and material information relevant to the offer, of course the Consortium would keep an open mind.
Q.		Does the Consortium have financing in place for its Proposed Acquisition?
		While there have been many banks offering the Consortium very beneficial terms, we believe it is premature for us to obtain committed financing at this stage given the non-binding nature of the consent solicitation process and the uncertainty around it. We would expect to undertake this phase of the process once it is clear that the Company will negotiate with us in good faith a definitive merger agreement in respect of the Proposed Acquisition that can be put before shareholders. Then, again, the Company’s board of directors and the Consortium would first need to execute a merger agreement and shareholders would need to approve it before we could close on the Proposed Acquisition.
Q.		Who is ACE Lead, and is there a dispute about who owns its interest in Hollysys?
		Ace Lead is a holding company wholly owned and controlled by Mr. Shao. Mr. Shao is its sole shareholder and director. Certain former and current employees of the Company and its subsidiaries (and related parties of such employees) have economic interests in a portion of the Company shares held by Ace Lead, which allows those individuals to share the economic benefits of those shares (such as rights to receive dividends and proceeds from the sale of shares). But employees and their related parties have no rights or interests in the underlying Company shares and they cannot sell, transfer or vote those Company shares either.
		As a matter of record and common ground, there is no dispute that Ace Lead owns 4,144,223 ordinary shares of Hollysys in its own right. The alleged dispute is regarding who should own and control Ace Lead. Mr. Changli Wang asked Mr. Shao to transfer the ownership and control of Ace Lead to himself or his designees, which has no legal or factual basis whatsoever.
Q.		Who is CPE, and what is their experience with U.S. public companies?
		CPE is a leading asset manager, currently managing a number of private equity, mezzanine and public market funds. Founded in 2008 by a world class team of investment professionals and supported by over 200 domestic and international investors, CPE is one of the largest private equity firms in China with a total AUM exceeding US$20 billion. Since its inception, the team has made over 200 private equity investments, among which over 50 are buyout transactions. CPE places great emphasis on value creation post investment and employs a dedicated in-house portfolio management team and operating partners who work alongside deal teams to drive strategic, organizational and operational enhancement in portfolio companies. It has received recognition from various international professional awards, the most well-known being the PEI 300 (Year 2021), which ranked CPE as one of the top 60 largest private equity firms worldwide, top 5 in Asia, and No. 2 in China, as well as the Private Equity Exchange & Awards, which honored CPE the winner of both the Best Global Private Equity Fund Silver Award and the Best ESG Private Equity Initiatives Silver Award in 2021. More information about CPE can be found at its official website: http://www.cpe-fund.com/en/index.html.

Shareholders with questions about how to submit consents and related matters should promptly contact Innisfree by email at [email protected] or by phone at +1 (877) 750-9501 (toll-free from the U.S. and Canada), or at +1 (412) 232-3651 (from other locations), during the hours of 10:00 a.m-7:00 p.m. Eastern Time, Monday-Friday, and 10:00 a.m.-2:00 p.m. Eastern Time on Saturdays. We ask you to please return your signed WHITE consent card to us as soon as possible before July 22, 2021.

Thank you for your support and prompt action!

Your sincerely,

Shao Baiqing

Ace Lead Profits Limited

CPE Funds Management Limited

View source version on businesswire.com: https://www.businesswire.com/news/home/20210713006247/en/

Jinxiang Guo

Executive Director

CPE Funds Management Limited

Email: [email protected]

KEYWORDS: China Asia Pacific

INDUSTRY KEYWORDS: Rail Other Energy Transport Manufacturing Energy Other Manufacturing Other Transport

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