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SOUTH SAN FRANCISCO, Calif., March 31, 2021 /PRNewswire/ — Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) announced today that it has filed its annual report on Form 10-K for the fiscal year ended December 31, 2020 with the Securities and Exchange Commission (“SEC”).

In October 2020, Titan announced a strategic restructuring, including the discontinuation of its U.S. Probuphine® implant sales and the wind down of Probuphine commercialization activities. This was shortly followed with its acquisition of a kappa opioid agonist peptide, or TP-2021 (formerly JT-09), and the settlement of substantially all of its outstanding debt, all of which has enabled the Company to pursue a plan focused on its current, early-stage ProNeura®-based product development programs.

As a result of this restructuring, the financial statements in Titan’s Form 10-K reflect results of operations from both continuing and discontinued operations.

Titan’s net loss from continuing operations for the year ended December 31, 2020 was approximately $7.4 million, or approximately $1.96 per share, compared to a net loss from continuing operations of approximately $7.5 million, or approximately $9.78 per share, for the comparable period in 2019. The net loss from discontinued operations for the year ended December 31, 2020 was approximately $10.8 million, or approximately $2.87 per share, compared to a net loss from discontinued operations of approximately $9.0 million, or approximately $11.71 per share, for the comparable period in 2019.

At December 31, 2020, Titan had cash and cash equivalents of approximately $5.4 million, which the Company believes, together with the approximately $8.9 million of the net proceeds from its January 2021 Offering, are sufficient to fund its planned operations into the first quarter of 2022.

“As a result of our transition from a commercial-stage back to a development-stage company, we have discontinued hosting quarterly investor conference calls. Of course, Titan remains committed to disclosing all material news and information in a timely manner, and we look forward to updating investors accordingly as we move forward,” said Marc Rubin, M.D., Titan’s Executive Chairman.

A copy of Titan’s annual report is available on the SEC’s website at www.sec.gov, and on the Company’s website at www.titanpharm.com under “Annual Reports” in the Investors section.

About Titan Pharmaceuticals

Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) is a development-stage biotechnology company developing proprietary therapeutics using its clinically proven ProNeura® long-term, continuous drug delivery technology. The ProNeura technology has the potential to be used in developing products for treating  a number of chronic conditions where maintaining consistent, around-the-clock blood levels of medication may benefit the patient and improve medical outcomes. For more information about Titan, please visit www.titanpharm.com.  

Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our product development programs and any other statements that are not historical facts. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our ability to raise capital, the winding down of U.S. commercial activities related to Probuphine, the regulatory approval process, the development, testing, production and marketing of our drug candidates, patent and intellectual property matters and strategic agreements and relationships. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

CONTACT:

Stephen Kilmer

Investor Relations
(650) 989-2215
[email protected]

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SOURCE Titan Pharmaceuticals, Inc.

WILLEMSTAD, Curacao, March 31, 2021 /PRNewswire/ — Retail Holdings N.V. (Symbol: RHDGF) — Retail Holdings N.V. (“ReHo”, together with its subsidiaries, the “Company”), announced today results for the year ended December 31, 2020.  The presentation of results of operations is quite different in format than in prior years. As a consequence of the disposal in December 2020 of 42.4% of Retail Holdings India B.V., the Company no longer has a controlling stake in the India operations. The Indian company, and its parent holding company, are now treated as associates, rather than as subsidiaries, and their results of operations, including revenue and other income and expense, are reflected as discontinued operations. Continuing operations only include revenue and expense and other income realized at Singer Asia Limited and Retail Holdings corporate.

To better understand both results of operations and the ongoing business dynamics, shareholders should read the complete 2020 Summary Annual Report and the accompanying audited Financial Statements and Notes, which will be available at the Corporate/Investor section of the Retail Holdings website, www.retailholdings.com, and can be obtained free of charge via email or mail request to Amy Pappas, Corporate Secretary, at the contact details indicated below.

Chairman’s Comments

Commenting on the 2020 results, Stephen H. Goodman, the Company’s Chairman, President and CEO, noted, “In 2020, the Company essentially completed the divestment program begun in 2015. In that year, the Company outlined a strategy, “to manage and, ultimately, to monetize the value of its assets, to make regular cash distributions to shareholders, and to liquidate, with a budgeted time frame of three to five years.” Five years have now elapsed. Over that period a total of $261.8 million in net proceeds from asset sales were generated, and a total of $38.30 per Share has been distributed to shareholders (including the most recent $1.05 distribution). The Company’s only remaining operating asset is a relatively small, residual, stake in the India business.

“The Company anticipates that the sale of its remaining stake in the India business will be completed by year-end 2021 or early in 2022. In the interim period, the Company will have to fund continuing, albeit declining, legacy expenses, certain fixed costs of being a public company, and maintain a management structure, resulting in continuing P&L losses. Management believes that an additional distribution of up to $0.50 per Share may be paid to shareholders in late 2021 or early 2022 with a final nominal liquidation distribution in late 2022 or early 2023, although these amounts cannot be assured and there may in practice be nil additional distributions.

“On a personal note, I intimated in last year’s earnings release that it was my intention to cease active employment at the Company by year-end 2020. The Company’s other two directors and I, have decided, subject to shareholder approval, that we will remain through 2021, until the divestment of the remaining India stake is accomplished, but at reduced compensation.

“I extend my thanks to fellow employees and directors for their efforts in 2020, and thank all of the Company shareholders for their continued support.”

Management Discussion and Analysis: 2020 Results

The following discussion and analysis should be read in conjunction with the audited, consolidated Financial Statements of the Company for the year ended December 31, 2020. Certain comparative figures for the year ended December 31, 2019 are restated.

Results of Operations

Year Ended December 31, 2020 and December 31, 2019

As a consequence of the partial disposal in 2020 of India BV, the Company no longer has controlling stakes either in India BV or in Singer India, and both companies are now treated as associates rather than as subsidiaries. The results of operations for these entities are reflected as discontinued operations in the Consolidated Statement of Income.

Continuing operations

(excludes India BV and Singer India for 2019 and 2020 and excludes Retail Holdings Bhold BV and Singer Bangladesh for January-March 2019).

For the year ended December 31, 2020, the Company’s U.S. Dollar consolidated revenue from continuing operations was $327 thousand, compared to consolidated revenue from continuing operations of $456 thousand for the same period in 2019. Revenue from continuing operations primarily is from royalties earned from certain third parties for use of the Singer brand and tradename. Revenue from sales of goods and services by Singer India in 2020 and 2019 and by Singer Bangladesh for the period January-March 2019 are included in discontinued operations.

As there are essentially no costs directly related to the generation of royalty income, gross profit is equal to revenue in both the year ended December 31, 2020 and the year ended December 31, 2019. Other income for the years ended December 31, 2020 and December 31, 2019 was $13 thousand and $175 thousand, respectively.

S&A expenses for the year ended December 31, 2020 were $1,665 thousand, compared to $2,871 thousand for the same period prior year. The high S&A expenses relative to revenue, 509.2% and 629.6% for the years ended December 31, 2020 and December 31, 2019, respectively, reflect both continuing, albeit declining, legacy expenses in the face of revenue decline as the Company proceeds to liquidation, and certain fixed costs of being a public company and of maintaining a management structure.

Results from operating activities from continuing operations for the year ended December 31, 2020 were a loss of $1,327 thousand, compared to a loss of $2,307 thousand in the same period in 2019.  The smaller loss primarily reflects lower S&A expenses.  

Net finance income was $30 thousand for the year ended December 31, 2020, and $287 thousand for the year ended December 31, 2019, reflecting lower cash balances at the intermediate holding companies during the year ended December 31, 2020, as compared to the prior year.

The Company’s loss from continuing operations, before tax, was $1,297 thousand for the year ended December 31, 2020, compared to a loss from continuing operations, before tax, of $2,020 thousand for the year ended December 31, 2019. The Company’s loss from continuing operations for the year ended December 31, 2020, after tax, was $1,306 thousand, compared to a loss from continuing operations, net of tax, of $2,044 thousand for the same period in 2019. The improvement of $738 thousand in income from continuing operations reflects the flow through of the reduced S&A expenses, offset, in part, by other factors.

Discontinued Operations

(includes India BV and Singer India for 2019 and 2020 and Retail Holdings Bhold BV and Singer Bangladesh, for the three months January-March 2019).

Singer India’s revenue for the year ended December 31, 2020 was $52,288 thousand and net profit from operations was $790 thousand, offset in part, by a loss on disposal of $766 thousand, resulting in a net profit from discontinued operations of $24 thousand in that year. Singer India’s results from operation for 2019 was a profit of $1,328 thousand.

Singer Bangladesh’s net results from operations for the period January-March 2019 was a profit of $1,628 thousand. In addition, there was a gain on disposal that year of $48,102 thousand. Bangladesh’s net profit from discontinued operations for the three months January-March 2019 was a profit of $49,730 thousand.

In 2019, the Group also incurred a net loss of $727 thousand on disposal of Sewko Holdings Limited, an intermediate holding company.

Overall

The Company’s total net loss for the year ended December 31, 2020 was $1,282 thousand, compared to a net profit of $48,287 thousand for the same period prior year. The Company’s 2019 results benefitted from the gain on the divestment of Retail Holdings Bhold BV in March 2019.

The loss attributable to ReHo shareholders is $1,632 thousand for the year ended December 31, 2020 compared to a profit of $24,129 for the same period prior year. A profit of $350 thousand is attributable to non-controlling interests for the year ended December 31, 2020, as compared to a profit of $24,158 thousand for the year ended December 31, 2019. The loss by ReHo shareholders for the year ended December 31, 2020 as compared to a profit attributable to non-controlling interests reflects that a greater part of the S&A expenses is attributable to ReHo shareholders than to the non-controlling interests. The ReHo share of the Company’s profit for the year ended December 31, 2019 was 50%, reflecting that 54% of the gain from the Bangladesh divestment flowed through to ReHo shareholders.

The profit attributable to ReHo shareholders is equivalent to a loss per Share of $0.35 for the year ended December 31, 2020, compared to a profit per Share attributable to ReHo shareholders of $5.19 for the year ended December 31, 2019.

Total comprehensive loss for the year ended December 31, 2020 was $1,452 thousand, compared to a comprehensive income for the year ended December 31, 2019 of $47,802 thousand. The decline in comprehensive income is largely due to the flow through of the Company’s loss and profit explained above.   

Liquidity and Capital Resources 

The individual balance sheet elements for Singer India are no longer included in the Consolidated Statement of Financial Position, but rather are reflected as a single carrying amount of the net investment. As it is the Company’s intention to sell this remaining investment within the next year, the carrying amount of the investment is characterized as “Assets held for sale”. As a result of the differences in treatment of the net assets of Singer India between 2020 and 2019, interpretation of changes in the individual balance sheet elements are no longer meaningful.

Year Ended December 31, 2020

For the year ended December 31, 2020, the Company had a net cash inflow from operations of $1,866 thousand, primarily reflecting the changes in inventories and trade and other receivables. Net cash from investing activities for the year ended December 31, 2020 was an inflow of $3,698 thousand, largely due to the $3,475 thousand received from the partial sale of India BV.

Distributions to ReHo shareholders and to non-controlling interests during the year ended December 31, 2020, utilized $2,325 thousand and $2,470 thousand cash, respectively.

The net effect of the cash flow movements and exchange rate fluctuations was to leave the Company’s net cash and cash equivalents position at December 31, 2020 largely unchanged from prior year. Cash and cash equivalents were $11,536 thousand at December 31, 2020.

Current assets less current liabilities at December 31, 2020 were $16,559 thousand. 

Neither ReHo, nor Singer Asia, nor any of the Company’s other subsidiaries or affiliates were in default at December 31, 2020, or at any time during 2020, with respect to any interest or principal payments or with respect to any financial covenants under any of their lending arrangements.

For a discussion of liquidity and capital resources during 2019, see the Company’s 2019 Annual Report, dated March 2020.   

About Retail Holdings

Retail Holdings N.V. is a holding company with one principal operating asset, a 54.1% equity interest in Singer Asia Limited, which, in turn, has an indirect effective interest of 34.0% in Singer India Limited, an Indian public company. Retail Holdings N.V. has no operating activities other than those carried out through the India operation.  Additional financial and other information about Retail Holdings N.V., including the complete text of the 2020 Retail Holdings Summary Annual Report and 2020 Audited Consolidated Financial Statements and Notes, may be found at the Corporate/Investor section of the Retail Holding’s website: www.retailholdings.com. Price quotations for Retail Holdings shares are available on the “Pink Sheets” quotation service under the symbol “RHDGF”.

                                                                   

 

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SOURCE Retail Holdings N.V.

CANONSBURG, Pa., March 31, 2021 /PRNewswire/ — CONSOL Energy Inc. (NYSE: CEIX) announced today that it has priced $75 million of tax-exempt solid waste disposal revenue bonds to be issued through the Pennsylvania Economic Development Financing Authority (PEDFA). The bonds will have a 30-year maturity and were priced in an initial 7-year term rate period with an interest rate of 9.0 percent. The bonds will be subject to a mandatory tender at the end of the initial term rate period.

“We are very appreciative for the support from PEDFA for our solid waste disposal project in Greene County,” said Jimmy Brock, President and Chief Executive Officer of CONSOL Energy Inc. “We are very proud of creating and supporting hundreds of high-paying jobs in southwest Pennsylvania and creating a positive impact on numerous communities across the state. This project highlights our continued environmental commitments and support for the economy of Southwest Pennsylvania.”

The Company received orders of approximately $170 million, highlighting the strength of our assets and resulted in a competitive initial fixed interest rate. The bonds will be secured on a second-priority basis, on parity with our existing outstanding second lien notes and behind our senior credit facility, by liens on substantially all of the assets of the Company and the subsidiary guarantors. It is expected that the bonds will be issued on or about April 13, 2021, upon completion of customary closing conditions and deliveries.

“We are very pleased with the strong response to our offering and support of our financing partners,” said Mitesh Thakkar, Chief Financial Officer of CONSOL Energy Inc. “The oversubscribed offering demonstrates the confidence in CONSOL’s world-class asset base and our strategy. This successful transaction also is a testament to CONSOL’s ability to continue to access the capital markets, particularly for a 7-year duration financing.”

In keeping with the requirements of the tax-exempt issuance, the proceeds will be used to finance the already ongoing expansion of the coal refuse disposal areas at the Company’s Bailey Preparation Plant in Graysville, Pennsylvania, which will support current and future mining at the Pennsylvania Mining Complex. The Company expects to receive the bond proceeds over the next two years or so, as qualified work is completed. This financing does not change the capital expenditure guidance provided by the Company.

About CONSOL Energy Inc.

CONSOL Energy Inc. (NYSE: CEIX) is a Canonsburg, Pennsylvania-based producer and exporter of high-Btu bituminous thermal coal and metallurgical coal. It owns and operates some of the most productive longwall mining operations in the Northern Appalachian Basin and is developing a new metallurgical coal mine (the Itmann project) in the Central Appalachian Basin. CONSOL’s flagship operation is the Pennsylvania Mining Complex, which has the capacity to produce approximately 28.5 million tons of coal per year and is comprised of 3 large-scale underground mines: Bailey, Enlow Fork, and Harvey. The company also owns and operates the CONSOL Marine Terminal, which is located in the port of Baltimore and has a throughput capacity of approximately 15 million tons per year. In addition to the ~658 million reserve tons associated with the Pennsylvania Mining Complex and the ~21 million reserve tons associated with the Itmann project, the company also controls approximately 1.5 billion tons of greenfield thermal and metallurgical coal reserves located in the major coal-producing basins of the eastern United States. Additional information regarding CONSOL Energy may be found at www.consolenergy.com.

 

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SOURCE CONSOL Energy Inc.

NORTH BETHESDA, Md., March 31, 2021 /PRNewswire/ — Federal Realty Investment Trust (NYSE: FRT) will announce first quarter 2021 earnings in a press release to be issued after market close on Wednesday, May 5,  2021. The Company will host a conference call on Wednesday, May 5^th, at 5:00 PM ET. 

Event: Federal Realty Investment Trust’s First Quarter 2021 Earnings Conference Call

When: 5:00 PM ET, Wednesday, May 5, 2021

Live Webcast: FRT First Quarter 2021 Earnings Conference Call or www.federalrealty.com

Dial #:  877.407.9208; Passcode: 13718245

A replay of the webcast will be available on Federal Realty’s website at www.federalrealty.com. A telephonic replay of the conference call will also be available through May 19, 2021 by dialing 844.512.2921; Passcode: 13718245.

About Federal Realty

Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty’s mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty’s 101 properties include approximately 2,800 tenants, in 23 million square feet, and approximately 2,900 residential units. 

Federal Realty has increased its quarterly dividends to its shareholders for 53 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.federalrealty.com.

Inquiries:
Leah Andress Brady
Investor Relations Senior Manager
301.998.8265
[email protected]

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SOURCE Federal Realty Investment Trust

HOUSTON, March 31, 2021 /PRNewswire/ — Bristow Group Inc. (NYSE: VTOL) today announced changes to its executive leadership team structure that will help the Company capitalize on evolving market conditions and better position Bristow for long-term growth. The changes are effective April 1^st, as the Company begins its new fiscal year.

“As we continue to make progress on post-merger integration, we are reorganizing Bristow’s executive leadership team to enable the transformation of the Company’s business mix through strategic diversification into new markets, while redoubling Bristow’s commitment to remain the market leader in search and rescue and offshore helicopter solutions,” said Chris Bradshaw, President and CEO of Bristow. “These changes will optimize the talents and experience of our existing leadership team members and better align resources with the Company’s long-term strategic priorities, which include a focus on new markets such as renewables, additional government services work, and advanced air mobility.”

Under the revised structure, the following changes will be made to the executive leadership team:

• David Stepanek will become Executive Vice President, Sales and Chief Transformation Officer (CTO). In his new role, Stepanek will be responsible for all sales, marketing and commercial functions of the business. In addition to activities in Bristow’s existing end markets, his focus will include the transformation of Bristow’s business mix through strategic diversification into new markets.
• Alan Corbett will continue to lead as Senior Vice President, EAMEA and SAR. Reporting directly to the CEO, Corbett will remain responsible for overseeing Bristow’s operations and service delivery in Africa, Australia, Norway, and the U.K., as well as Bristow’s UK Search and Rescue operations.
• Samantha Willenbacher will become Senior Vice President, Americas. In this role, Willenbacher will be responsible for Bristow’s operations and service delivery in Brazil, Guyana, Suriname, Trinidad, and the United States. She will also work with our partner, Cougar Helicopters Inc., in Canada.
• Stuart Stavley will assume an expanded role as Senior Vice President, Global Fleet Management, which will include the addition of Supply Chain Management and Global Standards. In this role, he will be responsible for globally standardized maintenance programs and maintenance execution standards, operational standards, MRO and operational software standards, aircraft specifications and lease agreements, as well as all original equipment manufacturer relationships, global supply chain operations and aircraft acquisitions and sales.
• Senior Vice President, Chief Financial Officer Jennifer Whalen will receive the added responsibility of overseeing our Information Technology department. She will also remain responsible for accounting, decision support, financial reporting, internal audit, investor relations, strategy and M&A, tax, and other financial functions of the Company.
• There are no changes to the roles performed by Crystal Gordon, Senior Vice President, General Counsel; Mary Wersebe, Senior Vice President, Chief Administrative Officer; and James Stottlemyer, Vice President, Health, Safety and Environment.
• Reporting to Stepanek will be David Martin, who will become Vice President, Commercial and New Markets. In this new role, the Company’s regional business development and sales teams focused on existing Bristow markets will report into Martin, and he will also support Stepanek in the pursuit of strategic diversification into new markets.
• Reporting to Whalen will be Joe Pitzinger as Vice President, Treasurer & Corporate Development.

“As the global leader in vertical flight solutions, Bristow remains steadfast in our commitment to deliver safe, efficient, and reliable service to our valued customers, while also continuing our heritage of progress through continuous improvement and innovation,” added Bradshaw. “We believe these changes are aligned with the evolving global Energy Transition and the transformation initiatives that are being implemented by many of our existing customers.”

About Bristow Group
Bristow Group Inc. is the leading global provider of vertical flight solutions. Bristow primarily provides aviation services to a broad base of major integrated, national and independent offshore energy companies. Bristow provides commercial search and rescue (“SAR”) services in several countries and public sector SAR services in the United Kingdom (“U.K.”) on behalf of the Maritime & Coastguard Agency (“MCA”). Additionally, the Company also offers ad hoc helicopter and fixed wing transportation services. Bristow currently has customers in Australia, Brazil, Canada, Chile, Colombia, Guyana, India, Mexico, Nigeria, Norway, Spain, Suriname, Trinidad, the U.K. and the U.S. To learn more, visit our website at www.bristowgroup.com.

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SOURCE Bristow Group

QUINCY, Ill., March 31, 2021 /PRNewswire/ — Titan International, Inc. (“Titan”) announced today that Laura K. Thompson, 56, has been appointed to Titan’s Board of Directors (the “Board”), effective April 1, 2021. Ms. Thompson was also appointed to serve on the Audit, Nomination, and Compensation Committees of the Board.

Ms. Thompson is a global business executive with deep financial and business expertise established over a 35-year career with The Goodyear Tire & Rubber Company.  Ms. Thompson served as Executive Vice President of Goodyear until her retirement in March 2019, and from 2013 to 2018 she served as Executive Vice President and Chief Financial Officer.  She also served in various finance and business roles including Vice President Finance North America, Vice President Business Development and Director Investor Relations.  Ms. Thompson is also a Director at Parker Hannifin Corporation and WESCO International Inc. 

Ms. Thompson earned an undergraduate degree in Accounting and an MBA in Finance from the University of Akron.

Morry Taylor, Chairman of the Board stated “Titan International is very pleased to have Laura Thompson join Titan’s Board of Directors. I have known Laura for years and have had the pleasure of working with her on business dealings between Titan and Goodyear. Paul Reitz, Titan’s CEO/President and Board Member, has also worked with Laura and is excited to have her on Titan’s team. Laura not only has great financial experience, but she also has invaluable work experience in tire manufacturing. There is no question she will make great contributions to Titan as a new chapter in the company’s history begins.”

About Titan
:

Titan International, Inc. (NYSE: TWI) is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. Headquartered in Illinois, the Company globally produces a broad range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets. For more information, visit www.titan-intl.com.

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SOURCE Titan International, Inc.

ST. LOUIS, March 31, 2021 /PRNewswire/ — Ameren Missouri filed today with the Missouri Public Service Commission (PSC) requests to adjust its electric and natural gas base rates next year.

The new rates would take effect in 2022 to reflect major upgrades to electric and natural gas system reliability and resiliency for customers, as well as investments to support the transition to cleaner energy for the benefit of customers and local communities.

Ameren Missouri customers have seen rate decreases in recent years, including two electric base rate decreases since 2017 and a natural gas rate decrease in 2019. Electric rates today are 8.3% lower than they were in 2017.

If approved by regulators, the rate adjustment in 2022 would cost an average electric customer about $12 a month (based on approximately 1,029 kilowatt-hours of usage per month). For Ameren Missouri’s natural gas customers, largely located in central and southeast Missouri, the adjustment in base rates would cost about $4 a month for the average residential customer. If approved, the new electric rate request reflects a 5.4% total increase over an almost five-year period, a yearly average of approximately 1%.

“Customers are experiencing better reliability and benefiting from cleaner energy because of infrastructure upgrades,” said Marty Lyons, president of Ameren Missouri, a subsidiary of Ameren Corporation, (NYSE: AEE). “Following a thorough review by the PSC, rates reflecting recent electric grid upgrades and new renewable generation won’t take effect until 2022. Due to COVID-19, we delayed our rate review requests associated with these investments. We’ve also been reducing our expenses to keep costs as low as possible, which is why our electric rates are well below the average in other Midwest states and across the country, and are positioned to remain relatively low even after this adjustment.”

Lyons said Ameren Missouri’s investments have made a difference for customers. For example, Ameren Missouri has accelerated smart technology upgrades, which are delivering up to 40% improvement in reliability on circuits with the new technology. The value of these investments was also demonstrated by the company’s system performance during the extremely cold weather in February that stressed the electric grid and natural gas systems in parts of the United States. 

“As the weather created challenges in several areas of the country, Ameren Missouri did not experience any significant reliability issues,” Lyons said. “Investments in infrastructure pay off every day for our customers in terms of improved system performance and reliability. We are seeing fewer outages with shorter durations.”  

“We’re working to keep rates as low as possible, while building a stronger, smarter and cleaner energy system for our customers,” said Warren Wood, vice president of regulatory and legislative affairs at Ameren Missouri. “That means making necessary and prudent investments in the system our customers depend on, while continuously finding ways to reduce our operational costs. Finding the right balance is critical to meeting the needs of our customers today, while transitioning to a stronger, smarter, cleaner, more reliable and resilient grid for future generations.”

Key components of the rate review requests include:

• Eliminating processing fees for customers paying their energy bills by credit card, saving those customers approximately $1.10–$1.85 per transaction.
• Strengthening the grid through Ameren Missouri’s Smart Energy Plan, including infrastructure upgrades bolstering reliability and resiliency, more renewable generation, installation of smart meters, and the addition of programs to stimulate economic growth for communities across the state.
• Investing in state-of-the-art wind generation, including the acquisition of the Missouri-based High Prairie and Atchison renewable energy centers that make Ameren Missouri the largest operator of wind generation in the state.
• Advancing the retirement of coal-fired energy centers, while ensuring the energy system remains reliable and resilient.
• Expanding rate options to offer choices that fit a customer’s lifestyle, thanks to how smart meters communicate with the updated grid. Customer benefits include the opportunity to save on their bill by using information from their smart meter to help shift the timing of their energy usage, quicker restoration after outages and faster connection when moving or starting service.
• Making Ameren Missouri’s popular Community Solar program permanent and allowing eligible customers to enroll up to 100% of their energy use in the program at a locked-in rate. The expanded solar program also works in step with new rate options enabled by the smart meters Ameren Missouri is installing.
• Enhancing Ameren Missouri’s natural gas infrastructure system to increase safety, efficiency and resiliency.

While upgrading the electric grid, Ameren Missouri has been able to keep rates stable and affordable for customers, with residential rates more than 20% below national and Midwest averages, according to the Edison Electric Institute Typical Bills and Average Rates Report. Ameren Missouri has reduced electric rates in two previous rate adjustments – a 6% reduction in 2018 and a 1.5% reduction in 2020. The last natural gas rate review occurred in 2019 and resulted in a 1.34% rate decrease.

To help customers who have faced financial hardship due to the COVID-19 pandemic, Ameren Missouri provided $5 million in energy assistance to families across the state and voluntarily enacted a moratorium on disconnections in 2020. Ameren Missouri continues to offer energy assistance grants and flexible payment options for those struggling to pay their bills. Ameren Missouri also is helping customers gain access to critical government and community assistance funding programs through the Low Income Home Energy Assistance Program (LIHEAP).

“We know there are many families who have been deeply impacted by the pandemic and need help to make ends meet,” Lyons said. “We care about our customers and want them to know we are here to help in this critical time of need. Any customers struggling to pay their bills should contact us today for access to energy assistance grants and to arrange flexible payment options.”

Ameren Missouri’s request will be carefully reviewed by the PSC and many other stakeholders during a process that can take up to 11 months. A decision by the PSC on this rate adjustment is expected with new rates effective early next year.

Ameren Missouri has been providing electric and gas service for more than 100 years, and the company’s electric rates are among the lowest in the nation. Ameren Missouri’s mission is to power the quality of life for its 1.2 million electric and 134,000 natural gas customers in central and eastern Missouri. The company’s service area covers 64 counties and more than 500 communities, including the greater St. Louis area. For more information, visit Ameren.com/Missouri or follow us on Twitter at @AmerenMissouri or Facebook.com/AmerenMissouri.

 

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SOURCE Ameren Missouri

TORONTO, March 31, 2021 /PRNewswire/ – Newtopia Inc. (“Newtopia” or the “Company“) (TSXV: NEWU), a tech-enabled habit change provider focused on disease prevention, today announced that the Company plans to release its fourth quarter and full year 2020 financial results after market close on Tuesday, April 6, 2021. The Company’s earnings release, audited annual financial statements, and Management Discussion & Analysis will be available on the Investor Relations’ section of its website, newtopia.com/investors and under the Company’s profile on SEDAR at www.sedar.com

Investor Relations Consultant

The Company also announced today that it has retained ADDO Investor Relations (“ADDO”) effective April 1, 2021 to provide investor relations services. Under terms of ADDO’s engagement, Newtopia has agreed to pay ADDO a service fee of US$11,500 per month. The agreement has an initial term of six months, with an automatic renewal, unless terminated by either party upon 30 days’ written notice to the other party. There are no performance factors contained in the agreement, and neither ADDO nor any of ADDO’s employees has a direct or indirect ownership interest in Newtopia or its securities.

Strategic Sales Consultant

Effective April 1, 2021, Newtopia has also entered into an agreement with NearWater Growth LLC (“NearWater”) to provide strategic sales and business development services. Under the terms of the agreement, Newtopia has agreed to pay NearWater a service fee of US$10,000 per month. The agreement is for an initial term of nine months with an option for annual renewal upon mutual consent of both parties. The agreement may be terminated by either party upon 60 days’ written notice. In addition, subject to the approval of the TSX Venture Exchange (the “Exchange”), NearWater will be entitled to receive 10,000 options at the commencement of the agreement and an additional 10,000 options for each renewal year. Options are subject to the Company’s Option Plan and will vest quarterly over two years. There is also a performance incentive, subject to Exchange approval, which entitles NearWater to earn up to 750,000 common shares of Newtopia over the course of the agreement upon meeting certain agreed upon sales milestones. The entering into of the consulting agreement with NearWater remains subject to final approval of the Exchange.

About Newtopia

Newtopia is a tech-enabled habit change provider focused on disease prevention and reducing the cost of care for health insurers. As a provider of whole person care, we prevent, reverse, and slow the progression of chronic disease while enriching mental health, resilience and overall human performance. Newtopia’s programs leverage genetic, social, and behavioral insights to create individualized prevention programs with a focus on type 2 diabetes, heart disease, stroke and weight. With a person-centered approach that combines virtual care, digital tools, connected devices and actionable data science, Newtopia delivers sustainable clinical and financial outcomes. Newtopia serves some of the largest nationwide employers and health plans and is currently listed on the Toronto Stock Exchange (TSXV: NEWU). To learn more, visit newtopia.com, Facebook, LinkedIn or Twitter.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Newtopia Inc.

BEDMINSTER, N.J., March 31, 2021 /PRNewswire/ — Kyowa Kirin, Inc., an affiliate of Kyowa Kirin Co., Ltd. (Kyowa Kirin, TSE: 4151) a global specialty pharmaceutical company, today announced a key milestone in its North American Business Integration (NABI) initiative; specifically, the merger of its Kyowa Kirin Research and Kyowa Kirin Development companies into Kyowa Kirin, Inc. The outcome of this merger is a simpler business structure for the organization and a common set of processes and systems to enhance the productivity and collaborations across North America discovery, development and commercial functions. This new structure will enable the region’s continued rapid growth and contributions toward the global organization’s New 2030 Vision, with a steady focus on creating and delivering novel medicines for patients.

All organizational changes under the NABI initiative take effect on April 1, 2021. Kyowa Kirin Canada, Inc. and BioWa, Inc., both maintain their current structure as subsidiaries of Kyowa Kirin, Inc. and Kyowa Kirin USA Holdings, Inc. respectively. A management agreement between Kyowa Kirin, Inc. and each subsidiary provides for access to key business services.

“We’ve received several FDA approvals since 2018 and continue to see great promise in our late-stage global pipeline. The organizational changes we are making through NABI will help Kyowa Kirin North America deliver the full value of these opportunities,” says Gary Zieziula, President, Kyowa Kirin North America. “Through NABI, we’re working to enable more efficient collaborations and business support for the functions that discover, develop and deliver first-in-class medicines that can have a profound impact on patients’ lives.”

Between 2017 and 2020, annual revenues from KKNA medicines have grown from $25M to more than $500M. The NABI initiative will further serve KKNA in its rapid growth and expansion into new markets, including Canada, and is aligned with Kyowa Kirin’s global priorities to:

• Maximize the full value of the organization’s portfolio to address patient needs
• Leverage cutting-edge science and expertise in biotechnology, including antibody engineering, to build a pipeline that will drive global business growth beyond 2025
• Pursue world-class product quality and operational excellence
• Strengthen the organization with diverse talent and digital systems

“This major initiative will unify our way of thinking and help KKNA navigate an exciting but rapid growth trajectory,” said Tara D’Orsi, Executive Vice President, General Counsel and Chief Compliance Officer, Kyowa Kirin North America. “With the integration of the North America-based entities, we will now utilize common processes, systems and documentation to support workflow across functions. We believe this will help us conduct business with enhanced speed, compliance and teamwork, which is key to our mission to deliver medicines that have a profound impact for patients.”

In addition to the integration of legal entities, KKNA has further strengthened its leadership team in 2021 with the addition and promotion of several senior executives with responsibility for key functions that support regional operations and stakeholder engagement:

• Britt Byers, Senior Vice President of Human Resources
• Nancy Maher, Senior Vice President, Chief Information Officer  
• Casilda Barnes, Vice President of Regulatory Affairs
• Lauren Walrath, Vice President of Public Affairs

Additionally, the organization appointed Doug Grant as General Manager, Canada. The organization is proceeding with plans to file mogamulizumab (Poteligeo^®) with Health Canada in 2021, in addition to building a rare disease business unit.

KKNA’s diverse, highly collaborative team works across functions and regions to build a strong specialty medicines portfolio, while maintaining the highest ethical standards. The organization’s success depends on teamwork/Wa, a core Japanese principle that harnesses the talent and expertise of individuals toward a common purpose of advancing innovations with a profound impact on patient lives.

About Kyowa Kirin North America
Kyowa Kirin strives to create and deliver novel medicines with life-changing value. As a Japan-based Global Specialty Pharmaceutical Company, we apply cutting-edge science and expertise in antibody research and engineering to address the needs of patients and society across multiple therapeutic areas, including Nephrology, Oncology, Immunology/Allergy and Neurology. Across four global regions – Japan, Asia Pacific, North America and EMEA/International – we are united by our shared values of commitment to life, teamwork/Wa, innovation, and integrity, and a drive to advance innovations that have a profound impact on patients. You can learn more about Kyowa Kirin North America at: https://kkna.kyowakirin.com.

CONTACT:
Lauren Walrath
Vice President, Public Affairs – North America
[email protected]
646-526-4454

 

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SOURCE Kyowa Kirin, Inc.

IRVINE, Calif., March 31, 2021 /PRNewswire/ — Sunstone Hotel Investors, Inc. (the “Company” or “Sunstone”) (NYSE: SHO), the owner of Long-Term Relevant Real Estate® in the hospitality sector, announced that it will report financial results for the first quarter 2021 on Monday, May 3, 2021, after the market closes. Management will hold its quarterly conference call the next day, on Tuesday, May 4, 2021 at 12:00 p.m. Eastern Time (9:00 a.m. Pacific Time).

A live webcast of the call will be available through the Investor Relations section of the Company’s website at www.sunstonehotels.com. A replay of the webcast will also be archived on the website. Alternatively, interested parties may dial 1-844-915-4230 and reference Conference ID 5247223 to listen to the live call.

About Sunstone Hotel Investors:

Sunstone Hotel Investors, Inc. is a lodging real estate investment trust (“REIT”). Sunstone’s business is to acquire, own, asset manage and renovate or reposition hotels considered to be Long-Term Relevant Real Estate®, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt. For further information, please visit Sunstone’s website at www.sunstonehotels.com.

For Additional Information:

Bryan Giglia

Chief Financial Officer
Sunstone Hotel Investors, Inc.
(949) 382-3036

Aaron Reyes

Senior Vice President & Treasurer
Sunstone Hotel Investors, Inc.
(949) 382-3018

 

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SOURCE Sunstone Hotel Investors, Inc.