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CNOOC Limited: Reserves and Production Hit Record High Cost Decreased to a 10-Year Low

PR Newswire

HONG KONG, March 25, 2021 /PRNewswire/ — CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) today announced its 2020 annual results for the year ended December 31, 2020.

In 2020, CNOOC Limited strengthened confidence, focused on its own development, proactively responded to the sharp drop in international oil prices and the impact of COVID-19 epidemic, and built up a strict defence line for pandemic prevention and control with concerted efforts. The safe production situation remained stable. The annual oil and gas reserves and production hit a new record high, and cost decreased to a 10-Year Low. The Company maintained a stable financial position during the year. At same time, the Company also actively fulfilled its promises to give back to its shareholders and the society.

The Company focused on large and medium-sized oil and gas discoveries and strived to improve the success ratio of exploration. During the year, 16 commercial discoveries were made, including Kenli 6-1 and Bozhong 13-2 oil and gas fields in Bohai Bay with proven in-place volume exceeding 100 million tons of oil equivalent; Huizhou 26-6, a medium-sized oil and gas field in Eastern South China Sea; and three new discoveries of oil fields in Stabroek block of Guyana. With such discoveries, the Company’s proved reserves hit a record high of 5,373 million BOE, and the reserve life remained stable at a level above 10 years for 4 consecutive years, laying a solid foundation for future production growth. During the year, net oil and gas production grew strongly continuously, 10 new projects of production capacity construction were successfully commenced production, and the decline rate of the producing oilfields was under control. Thus, the Company’s net oil and gas production also hit a record high of 528.2 million BOE.

The Company actively dealt with the challenge of low oil prices, and deeply implemented special actions to reduce costs and enhance quality and efficiency. In this way, the Company reduced the costs throughout the entire exploration and development process by optimizing work deployment, strengthening on-site management, and conducting technology upgrades. In 2020, all-in cost decreased to US$26.34 per BOE, down 11.6% year-over-year (YoY)，hitting a 10-year low, and operating cost was US$6.90 per BOE, down 6.7% YoY， hitting a 13-year low, which continued to consolidate the cost competitiveness of the Company and demonstrated the excellent management and execution capacity of the management.

In 2020, the Company actively responded to the general trend of energy transition and continuously practiced its green and low-carbon development strategy. On the one hand, efforts were made to continuously increase the supply of clean energy and promote the development and construction of key natural gas projects. On the other hand, the Company actively promoted new energy business with focus on offshore wind power. In 2020, the Company’s first offshore wind power project with all 57 wind turbines connected to the grid to generate electricity. In addition, the Company actively promoted digital and intelligent construction and implemented the shore power supply projects in Bohai Bay to facilitate green and low-carbon production.

The Company’s average realized oil price was US$40.96 per barrel, The average realized natural gas price was US$6.17 per thousand cubic feet. Oil and gas sales revenue reached RMB139.6 billion, and the net profit of RMB24.96 billion, and basic earnings per share of RMB 0.56.

During the period, leveraging its stable financial position and strong free cash flow, the Company maintained a high level of investment with capital expenditure of RMB79.5 billion and fully guaranteed the implementation of oil and gas exploration and development businesses. In keeping with its commitment continuously to reward the shareholders, the Board of Directors has recommended the payment of a final dividend of HK$0.25 per share (tax inclusive).

Mr. Wang Dongjin, Chairman of the Company, said, “In 2020, facing with a challenging and complex external environment, we strengthened our confidence in development, faced up to the difficulties, and adopted various measures to achieve better than expected annual results. In the future, we will continue to focus on promoting high-quality development, actively respond to new challenges, take the initiative to seize new opportunities, and strive to achieve high-quality, sustainable, safe and low-carbon development and constantly enhance our capability to create value, and thereby provide greater returns to shareholders.”

Notes to Editors:

More information about the Company is available at http://www.cnoocltd.com

*** *** *** ***

This press release includes “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements regarding expected future events, business prospectus or financial results. The words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors the Company believes are appropriate under the circumstances. However, whether actual results and developments will meet the expectations and predictions of the Company depends on a number of risks and uncertainties which could cause the actual results, performance and financial condition to differ materially from the Company’s expectations, including but not limited to those associated with fluctuations in crude oil and natural gas prices, macro-political and economic factors, changes in the tax and fiscal regimes of the host countries in which we operate, the highly competitive nature of the oil and natural gas industry, the exploration and development activities, mergers, acquisitions and divestments activities, environmental responsibility and compliance requirements, foreign operations and cyber system attacks. For a description of these and other risks and uncertainties, please see the documents the Company files from time to time with the United States Securities and Exchange Commission, including the Annual Report on Form 20-F filed in April of the latest fiscal year.

Consequently, all the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realized or, even if substantially realized, that they will have the expected effect on the Company, its business or operations.

*** *** *** ***

For further enquiries, please contact:

Ms. Jing Liu
Manager, Media & Public Relations
CNOOC Limited
Tel: +86-10-8452-3404
Fax: +86-10-8452-1441
E-mail: [email protected]

Bunny Lee

Porda Havas International Finance Communications Group
Tel: +852 3150 6707
Fax: +852 3150 6728
E-mail: [email protected]

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SOURCE CNOOC Limited

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Confluence’s Risk API Solution Chosen by Leading Global Fund Administrator

Under a long-term contract, the new global fund administrator client will employ Confluence’s cloud-based Risk API solution

Pittsburgh, PA, March 25, 2021 (GLOBE NEWSWIRE) — Confluence Technologies, Inc. (“Confluence”), a global technology solutions provider helping the investment management industry solve complex investment data challenges, today announced it has secured a long-term contract with a leading global fund administrator that will use Confluence’s Risk API solution to deliver fully-fledged risk analytics.

The global fund administrator will use Confluence’s Risk API to build customized downstream reports for a large and growing number of client portfolios. The new client recognized the complexity of aggregating and managing the necessary data, and the importance of cleaning and controlling that data before calculating risk. As such, the firm turned to Confluence’s Revolution platform, as it provides access to on-demand risk analysis and integrates into its cloud platform, creating a scalable and efficient method for reporting. With broad asset class coverage and scalability, the leading global fund administrator can now use Risk API, part of the Revolution suite, to create a more efficient, timely and cost-effective reporting workflow.

The engagement demonstrates Confluence’s ability to provide scalability without compromising on the underlying risk model. Risk API allows clients to lower their operational costs while providing them with the flexibility required to construct custom solutions for their clients.

“Fund administrators today are looking for solutions that account for their risk, performance and attribution needs in the most streamlined ways possible,” said Todd Moyer, Confluence’s President and Chief Operating Officer. “Our groundbreaking Revolution platform uses best-of-breed technology across regions and asset classes to provide a seamless and efficient experience for our clients. We’re looking forward to partnering with this global fund administrator and contributing to their overall success—and to the success of their own investor customers—by offering an unparalleled level of operational efficiency.”

Revolution is a cloud-based platform, offering vital analysis of portfolio performance, attribution, risk and compliance. It helps clients reduce costs, improve client communication and control investment decisions.

 

About Confluence

As a leading global technology solutions provider to the investment management industry, Confluence helps clients solve complex investment data challenges across the front, middle and back office. From innovative portfolio analytics to regulatory and financial reporting solutions, Confluence invests in the latest technology and data and in its team of industry experts to meet the evolving needs of asset managers and service providers. Headquartered in Pittsburgh, PA, Confluence services over 400 clients in 39 countries, with locations across Europe, North America, South Africa, Australia and Asia. For more information, visit www.confluence.com



Michael Kingsley
Forefront Communications Group, Inc.
+ 1 212-320-8984
[email protected]

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Accolade Announces Pricing of $250 Million Convertible Senior Notes Offering

SEATTLE, March 25, 2021 (GLOBE NEWSWIRE) — Accolade, Inc. (Nasdaq: ACCD) (“Accolade”) announced the pricing of $250 million aggregate principal amount of 0.50% convertible senior notes due 2026 (the “Notes”) in a private placement (the “offering”) to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Accolade also granted the initial purchasers of the Notes an option to purchase, within a 13-day period beginning on, and including, the date on which the Notes are first issued, up to an additional $37.5 million aggregate principal amount of the Notes. The sale of the Notes is expected to close on March 29, 2021, subject to customary closing conditions.

The Notes will be general unsecured obligations of Accolade and will accrue interest payable semiannually in arrears on April 1 and October 1 of each year, beginning on October 1, 2021, at a rate of 0.50% per year. The Notes will mature on April 1, 2026, unless earlier converted, redeemed or repurchased. The initial conversion rate will be 19.8088 shares of Accolade’s common stock per $1,000 principal amount of Notes (equivalent to an initial conversion price of approximately $50.48 per share of Accolade’s common stock). The initial conversion price of the Notes represents a premium of approximately 32.5% over the last reported sale price of Accolade’s common stock on March 24, 2021. The Notes will be convertible into cash, shares of Accolade’s common stock or a combination of cash and shares of Accolade’s common stock, at Accolade’s election.

Accolade may redeem for cash all or any portion of the Notes (subject to a partial redemption limitation), at its option, on or after April 6, 2024 if the last reported sale price of Accolade’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive), including the trading day immediately preceding the date on which Accolade provides notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which Accolade provides notice of redemption, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.

If Accolade undergoes a “fundamental change” (as defined in the indenture governing the Notes), subject to certain conditions and exceptions, noteholders may require Accolade to repurchase for cash all or any portion of their Notes at a fundamental change repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. In addition, following certain corporate events that occur prior to the maturity date or if Accolade delivers a notice of redemption, Accolade will, in certain circumstances, increase the conversion rate for a noteholder who elects to convert its Notes in connection with such a corporate event or convert its Notes called (or deemed called) for redemption in connection with such notice of redemption, as the case may be.

Accolade estimates that the net proceeds from this offering will be approximately $242.4 million (or approximately $278.9 million if the initial purchasers exercise their option to purchase additional Notes in full), after deducting the initial purchasers’ discount and estimated expenses payable by Accolade. Accolade also expects to use approximately $30.0 million of the net proceeds from this offering to pay the costs of the capped call transactions described below. If the option to purchase additional Notes is exercised by the initial purchasers in full, Accolade expects to use approximately $4.5 million of the net proceeds from the sale of such additional Notes to enter into additional capped call transactions. Accolade expects to use the remainder of the net proceeds for general corporate purposes, including working capital, operating expenses, capital expenditures, acquisitions and strategic investments.

In connection with the pricing of the Notes, Accolade entered into capped call transactions with one or more of the initial purchasers and/or their respective affiliates and another financial institution (the “option counterparties”). The capped call transactions will cover, subject to customary adjustments, the number of shares of Accolade’s common stock that initially underlie the Notes. The capped call transactions are expected to offset the potential dilution to Accolade’s common stock as a result of any conversion of the Notes, with such offset subject to a cap initially equal to $76.20 (which represents a premium of 100% over the last reported sale price of Accolade’s common stock on March 24, 2021). If the initial purchasers exercise their option to purchase additional Notes, Accolade expects to enter into additional capped call transactions with the option counterparties.

In connection with establishing their initial hedges of the capped call transactions, Accolade has been advised that the option counterparties and/or their respective affiliates expect to enter into various derivative transactions with respect to Accolade’s common stock concurrently with or shortly after the pricing of the Notes and/or purchase shares of Accolade’s common stock concurrently with or shortly after the pricing of the Notes. This activity could increase (or reduce the size of any decrease in) the market price of Accolade’s common stock or the Notes at that time.

In addition, the option counterparties and/or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to Accolade’s common stock and/or purchasing or selling Accolade’s common stock or other securities of Accolade in secondary market transactions following the pricing of the Notes and prior to the maturity of the Notes (and are likely to do so on each exercise date of the capped call transactions, which are expected to occur during the 40 trading day period beginning on the 41st scheduled trading day prior to the maturity date of the Notes, or following any termination of any portion of the capped call transactions in connection with any repurchase, redemption or early conversion of the Notes). This activity could also cause or avoid an increase or a decrease in the market price of Accolade’s common stock or the Notes, which could affect a noteholder’s ability to convert its Notes and, to the extent the activity occurs during any observation period related to a conversion of the Notes, it could affect the amount and value of the consideration that a noteholder will receive upon conversion of such Notes.

In addition, if any of such capped call transactions fails to become effective, whether or not the offering of the Notes is completed, the option counterparty thereto may unwind its hedge positions with respect to Accolade’s common stock, which could adversely affect the value of Accolade’s common stock and, if the Notes have been issued, the value of the Notes.

Neither the Notes, nor any shares of Accolade common stock issuable upon conversion of the Notes, have been registered under the Securities Act or any state securities laws, and unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Notes, the common stock potentially issuable upon conversion of the Notes or any other securities, and will not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “expect,” “intend,” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Accolade’s expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from these forward-looking statements. Forward-looking statements contained in this press release include statements regarding, among other things, the timing and completion of the offering and the capped call transactions, the potential effects of the capped call transactions and the use of proceeds of the offering. Many factors may cause differences between current expectations and actual results in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, market risks and uncertainties and the satisfaction of customary closing conditions for an offering of securities. These and other risks and uncertainties are described in Accolade’s filings with the SEC, including the risks described under the heading “Risk Factors” in Accolade’s most recently filed Quarterly Report on Form 10-Q, which should be read in conjunction with its financial results and forward-looking statements. Except as required by law, Accolade assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.

Investor Contact:

Todd Friedman, Investor Relations, 484-532-5200, [email protected]



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Sunlands Technology Group Announces Changes to Board of Directors

PR Newswire

BEIJING, March 25, 2021 /PRNewswire/ — Sunlands Technology Group (NYSE: STG) (“Sunlands” or the “Company”), a leader in China’s online post-secondary and professional education, today announced the appointment of Ms. Jing Gao to the Company’s Board of Directors, effective on March 25, 2021. For personal reasons, Mr. Xiaochuan Wang has tendered his resignation from the position of an independent director and a member of the audit committee, and Mr. Zheng Du and Mr. Gaoneng Ji have tendered their resignation as a member of the Board, all effective on March 24, 2021.

Ms. Gao has worked in Sunlands for 16 years, and held management responsibilities in various departments of the Company with the most recent role as the vice president. Ms. Gao has deep and keen insights into the Chinese adult continuing education market and extensive experiences in team management.

Mr. Peng Ou, Founder and Chairman of the Board, said, “On behalf of the Board and executive team, I would like to thank Xiaochuan, Zheng and Gaoneng for their contributions during their time at Sunlands, and wish them the best in their future endeavors. We are also delighted to welcome Ms. Gao to the Board. We look forward to her contributions drawing from her rich experience and profound insight as we continue to bring our leading technology and educational content to China’s growing online post-secondary and professional education market.”


About Sunlands

Sunlands Technology Group (NYSE: STG) (“Sunlands” or the “Company”), formerly known as Sunlands Online Education Group, is the leader in China’s online post-secondary and professional education. With a one to many, live streaming platform, Sunlands offers various degree and diploma-oriented post-secondary courses as well as online professional courses and educational content, to help students prepare for professional certification exams and attain professional skills. Students can access its services either through PC or mobile applications. The Company’s online platform cultivates a personalized, interactive learning environment by featuring a virtual learning community and a vast library of educational content offerings that adapt to the learning habits of its students. Sunlands offers a unique approach to education research and development that organizes subject content into Learning Outcome Trees, the Company’s proprietary knowledge management system. Sunlands has a deep understanding of the educational needs of its prospective students and offers solutions that help them achieve their goals.


Safe Harbor Statement

This press release contains forward-looking statements made under the “safe harbor” provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Sunlands may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about Sunlands’ beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: Sunlands’ goals and strategies; its expectations regarding demand for and market acceptance of its brand and services; its ability to retain and increase student enrollments; its ability to offer new courses and educational content; its ability to improve teaching quality and students’ learning results; its ability to improve sales and marketing efficiency and effectiveness; its ability to engage, train and retain new faculty members; its future business development, results of operations and financial condition; its ability to maintain and improve technology infrastructure necessary to operate its business; competition in the online education industry in China; relevant government policies and regulations relating to Sunlands’ corporate structure, business and industry; and general economic and business condition in China. Further information regarding these and other risks, uncertainties or factors is included in the Sunlands’ filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Sunlands does not undertake any obligation to update such information, except as required under applicable law.

For investor and media enquiries, please contact:

Sunlands Technology Group
Investor Relations
Email: [email protected]

The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
Email: [email protected]

Ross Warner

Tel: +86-10-6508-0677
Email: [email protected]

 

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SOURCE Sunlands Technology Group

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Smith+Nephew adds Movendo Technology’s patient rehabilitation solution to Real Intelligence digital ecosystem

PR Newswire

LONDON, March 25, 2021 /PRNewswire/ — Smith+Nephew (LSE:SN, NYSE:SNN), the global medical technology business, today announces a marketing collaboration with Movendo Technology (Genoa, Italy) that will add personalised robotic patient rehabilitation capability to Smith+Nephew’s Real Intelligence enabling technology solutions, creating a fully digitised patient pathway from the pre-op stage to post-rehab phase. The collaboration has launched in Europe and will expand to other regions in the near future.

Movendo Technology’s multifunctional rehabilitation device, HUNOVA, is able to analyse 130 different biomechanics parameters of the lower limb before and after surgery, generating a bespoke functional evaluation knee index. This provides a personalised patient recovery programme to support the return of strength and function of the joint’s articulation. The index can also be extended to the hip and ankle.

Smith+Nephew’s Real Intelligence ecosystem addresses clinical challenges through the continuum of care including patient engagement, pre-operative planning, digital and robotic surgery, post-operative assessment, and outcomes measurement. Smith+Nephew’s next generation robotics-assisted platform, the CORI™ Surgical System, is scheduled to launch in Europe during the first half of 2021 after a successful introduction in the US last year.

“We are thrilled that this collaboration will start in Europe,” said Peter Coenen, President EMEA, Smith+Nephew. “By combining our innovations in robotics-assisted surgical systems with HUNOVA Robotic technology, we bring together personalised implant placement and soft tissue balancing with a rehabilitation treatment to deliver greater benefits to patients, accelerate recovery and improve function.”

“We are extremely proud and excited about this new partnership that will make robotics-assisted surgery and rehabilitation an integrated, more effective and engaging process,” said Simone Ungaro, CEO of Movendo. “I am looking forward to bringing this innovative concept world-wide in collaboration with Smith+Nephew.” 

The collaboration further emphasises Smith+Nephew’s commitment to data driven enabling technologies that allow our customers to provide the highest level of care to their patients. For more information about Real Intelligence, please visit www.real-intelligence.com.

About Smith+Nephew
Smith+Nephew is a portfolio medical technology business that exists to restore people’s bodies and their self-belief by using technology to take the limits off living. We call this purpose ‘Life Unlimited’. Our 18,000 employees  deliver this mission every day, making a difference to patients’ lives through the excellence of our product portfolio, and the invention and application of new technologies across our three global franchises of Orthopaedics, Advanced Wound Management and Sports Medicine & ENT.

Founded in Hull, UK, in 1856, we now operate in more than 100 countries, and generated annual sales of $4.6 billion in 2020. Smith+Nephew is a constituent of the FTSE100 (LSE:SN, NYSE:SNN). The terms ‘Group’ and ‘Smith+Nephew’ are used to refer to Smith & Nephew plc and its consolidated subsidiaries, unless the context requires otherwise.

For more information about Smith+Nephew, please visit www.smith-nephew.com and follow us on Twitter, LinkedIn, Instagram or Facebook.

About Movendo
Movendo Technology, part of the biopharmaceutical group Dompé Holdings, was established in 2016. Headquartered in Genoa, Italy with subsidiaries in Munich, Germany, and Boston, USA, Movendo develops and commercialises robotic and digital rehabilitation solutions for objective, functional assessments, and effective treatments. hunova©, the company’s flagship product and one of the most versatile robotic assistive device available, improves orthopaedic rehabilitation, the management of neurological and chronic conditions, active aging and athletic performance. Proprietary software algorithms and novel IT solutions provide for predictive and personalised therapy, telerehabilitation as well as for data-driven population health management tools.

For more information about Movendo Technology, please visit www.movendo.technology


Forward-looking Statements


This document may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected revenue growth and trading margins, market trends and our product pipeline are forward-looking statements. Phrases such as “aim”, “plan”, “intend”, “anticipate”, “well-placed”, “believe”, “estimate”, “expect”, “target”, “consider” and similar expressions are generally intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. For Smith+Nephew, these factors include: risks related to the impact of COVID-19, such as the depth and longevity of its impact, government actions and other restrictive measures taken in response, material delays and cancellations of elective procedures, reduced procedure capacity at medical facilities, restricted access for sales representatives to medical facilities, or our ability to execute business continuity plans as a result of COVID-19; economic and financial conditions in the markets we serve, especially those affecting health care providers, payers and customers (including, without limitation, as a result of COVID-19); price levels for established and innovative medical devices; developments in medical technology; regulatory approvals, reimbursement decisions or other government actions; product defects or recalls or other problems with quality management systems or failure to comply with related regulations; litigation relating to patent or other claims; legal compliance risks and related investigative, remedial or enforcement actions; disruption to our supply chain or operations or those of our suppliers (including, without limitation, as a result of COVID-19); competition for qualified personnel; strategic actions, including acquisitions and dispositions, our success in performing due diligence, valuing and integrating acquired businesses; disruption that may result from transactions or other changes we make in our business plans or organisation to adapt to market developments; and numerous other matters that affect us or our markets, including those of a political, economic, business, competitive or reputational nature. Please refer to the documents that Smith+Nephew has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Smith+Nephew’s most recent annual report on Form 20-F, for a discussion of certain of these factors. Any forward-looking statement is based on information available to Smith+Nephew as of the date of the statement. All written or oral forward-looking statements attributable to Smith+Nephew are qualified by this caution. Smith+Nephew does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or in Smith+Nephew’s expectations.



™


Trademark of Smith+Nephew. Certain marks registered US Patent and Trademark Office.

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SOURCE Smith & Nephew plc

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Global Impact of SRD II and Lessons Learned Highlighted in New Whitepaper from Broadridge

PR Newswire

NEW YORK and LONDON, March 25, 2021 /PRNewswire/ — Despite its new obligations for financial intermediaries taking effect in September 2020, the European Commission’s updated Shareholder Rights Directive (SRD II) is still very much in the early stages of a full and seamless adoption across European regulated markets, according to a new report by global Fintech leader Broadridge Financial Solutions, Inc. (NYSE: BR).

Today Broadridge launches its latest industry whitepaper on SRD II. The report extracts learnings from over 350 SRD II client implementations, which should serve as a valuable resource for firms that have yet to implement their SRD II solution, as well as those who met the deadline but continue to refine their processes.

“The implementation of SRD II compliance procedures has created a number of challenges on affected intermediaries, especially those providing voting-related services for the first time,” said Demi Derem, General Manager, International Bank Broker-Dealer Communication Solutions at Broadridge. “Having worked with clients based within and outside of Europe, including both retail- and institutional-focused firms, spanning multiple tier-one banks, brokers and wealth managers, this report will serve as a useful reference and navigation guide”.

SRD II is a key part of the Capital Markets Union agenda and, as such, it remains a high-profile, mandatory requirement subject to deep scrutiny over the coming years, including a formal review of the directive’s effectiveness by the European Commission.

“The risks and penalties are wide-ranging and can be severe for firms, which are yet to be fully compliant,” Derem added. “Firms seeking external support should consider their options carefully. They should pay particular attention to companies that can offer the requisite knowledge and experience of navigating the shareholder communications landscape, and can provide the necessary economies of scale, digital data security and complete market coverage”.

ABOUT BROADRIDGE
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with over $4.5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance and communications to enable better financial lives. We deliver technology-driven solutions to banks, broker-dealers, asset and wealth managers and public companies. Broadridge’s infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. In addition, Broadridge’s technology and operations platforms underpin the daily trading of on average more than U.S. $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is a part of the S&P 500® Index, employing over 12,000 associates in 17 countries. For more information about us and what we can do for you, please visit www.broadridge.com

Media contact:
Sophie Hamilton 
E: [email protected]
M: +44 (0) 7943 050820

 

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SOURCE Broadridge Financial Solutions, Inc.

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Expandium and Cervello Announce Strategic Partnership to Combine Cybersecurity with Predictive Maintenance for Rail Signalling and Telecom Systems

The strategic alliance, already pursued for implementation amongst key accounts in Europe, enables early identification of cyber threats, failures and malfunctions at the lowest operational costs, ensuring system safety, reliability and continuity

PR Newswire

NANTES, France and TEL AVIV, Israel, March 25, 2021 /PRNewswire/ — Expandium (a VIAVI Solutions company, NASDAQ: VIAV), the pioneer and leading provider of rail telecommunication monitoring solutions amongst over 100,000 km of tracks in 25+ countries, and Cervello, the leader in railway cybersecurity solutions, announced today a strategic alliance to provide the rail industry with comprehensive cybersecurity alongside advanced predictive maintenance capabilities, designed to deliver unmatched visibility and control of railway telecom and signalling systems, and more specifically ETCS, GSM-R, FRMCS and Interlocking.

The rail industry is significantly becoming more and more connected. The massive shifts to digitized control systems, adoption of over-the-air technologies, and automated operations has resulted in higher availability and increased transport efficiency. At the same time, it continuously increases the gap of network vulnerabilities and cyber threats to railway operational environments, having today’s telecom and signalling systems susceptible to ever-growing cyber risks.

“As the market leader in rail communication network monitoring, we have a duty to provide solutions that are proof against malicious actions. We have identified Cervello as the key and game-changing cybersecurity player in the industry, able to optimally complement our successful monitoring solutions already deployed and trusted by most European railway operators and infrastructure managers,” said Pierre Cassier, CEO of Expandium. “Together, we propose a combined state-of-the-art offering, ensuring the highest level of security and reliability of railway telecom and signalling networks, and empowering rail organizations to both upgrade their operations and at the same time safeguard against cyber threats.” 

“We are excited to forge this strategic partnership with Expandium, as the responsibilities and security challenges faced by rail organizations today have never been greater, and while having the threat landscape evolves – so too must company toolkits,” said Roie Onn, Co-Founder & CEO of Cervello. “Seamlessly integrating between our solutions, we make rail cybersecurity much more available, accessible and efficiently scalable for companies across the industry. With Cervello’s zero-trust technology for rail signalling authentication, customers are now able to spot any suspicious or threatening activity involving their telecom, signalling and rolling stock, whether coming from legitimate sources or not, and without relying on any type of security assumptions. This is a tremendous benefit that results in considerable value for the customers we serve. Together we are committed to safeguarding the railway industry, and are on a mission to ensure a safer, more reliable, and sustainable railway future.”

About Expandium

Expandium (a VIAVI Solutions company, NASDAQ: VIAV) is an innovative leading provider of network and telecom monitoring solutions through big data technologies. Since its establishment in 2005, Expandium has provided numerous railway organizations with the latest generation of tools to build network intelligence, ranging from troubleshooting to optimization through CEM and SQM. Expandium solutions monitor all interfaces currently in operation in the industry, including R4 architectures and the railway MR2 release. These include 2G, 3G, LTE, VoLTE and VoIP for MNOs as well as GSM-R, GPRS, FRMCS, ETCS and Interlocking for railway Operators. For more information, please visit www.expandium.com or contact us at [email protected].

About Cervello

Cervello is the rail cybersecurity leader, enabling railway operators and infrastructure managers to identify and remediate cybersecurity risks throughout their operational activity. Cervello offers a single platform that blends zero-trust signalling authentication technology, nation-state grade threat intelligence and actionable response capabilities, enabling railways to perform with full visibility and control of their operational assets, system activity and mission-critical procedures. Cervello’s solutions are trusted by industry OEMs, Tier 1s, system integrators and aftermarket providers. For more information, please visit www.cervellosec.com or contact us at [email protected].


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Hila Shitrit Nissim

[email protected]

Cision View original content:http://www.prnewswire.com/news-releases/expandium-and-cervello-announce-strategic-partnership-to-combine-cybersecurity-with-predictive-maintenance-for-rail-signalling-and-telecom-systems-301255624.html

SOURCE Cervello; Expandium

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KVH Introduces High Performance, Easy-to-install TracPhone V30 Marine VSAT Antenna for Affordable Internet at Sea

Innovative system features single-cable, DC-powered design, integrated modem in the dome for higher signal strength and efficiency, and compact belowdecks unit with built-in Wi-Fi

MIDDLETOWN, R.I., March 25, 2021 (GLOBE NEWSWIRE) — KVH Industries, Inc., (Nasdaq: KVHI), today introduces at the Palm Beach (FL) International Boat Show the TracPhone® V30, an ultra-compact Ku-band VSAT antenna designed to deliver data speeds as fast as 6 Mbps down/2 Mbps up for leisure and commercial boats wanting to experience the benefits of Internet at sea. Measuring just 37 cm (14.5 inches) diameter and weighing 10.6 kg (23.4 lbs), the TracPhone V30 is designed to provide ease of installation and retrofit with a single power-data coax cable, versus multiple cables, and to utilize DC power, a plus for small boats with a limited power supply.

KVH engineered the antenna with a modem in the dome to deliver outstanding reception with improved signal efficiency, as well as high-performance tracking and stabilization for fast boats and rough seas. A streamlined belowdecks unit, called the VSAT-Hub, provides state-of-the-art HTS modem connections, built-in Wi-Fi, data routing, firewall security, and a VoIP adapter for phone calls.

This combination of TracPhone V30’s small antenna size, easy installation, and fast data speed makes Internet connectivity, content streaming, and social media use possible on sailboats, center console boats, and recreational boats. In addition, the TracPhone V30 is well-suited to commercial vessels that don’t voyage globally, including fishing boats, tugboats, and offshore service vessels. For leisure and commercial vessels, the TracPhone V30 offers the advantages of advanced satcom technology as a replacement for legacy L-band systems that typically provide data speeds of only 432 Kbps.

“Our new TracPhone V30 delivers fast data speeds in a compact unit and we anticipate it will disrupt the leisure and commercial markets by making VSAT at sea affordable like never before,” says Mark Woodhead, KVH executive vice president of mobile connectivity. “Whether they are streaming content, checking email, using social media, or managing their business, both recreational boaters and small commercial vessel operators can count on reliable VSAT connectivity wherever they go.”

Although ultra-compact, the TracPhone V30 antenna has global reach via KVH’s mini-VSAT BroadbandSM network, which provides global coverage from multi-layered high-throughput satellites (HTS) in the Intelsat FlexMaritime network with additional coverage from SKY Perfect JSAT.

KVH offers a range of affordable metered and unlimited use airtime plans starting at $99 per month, with month-to-month contract flexibility to satisfy the needs of leisure boaters who may only use their boats part of the year and commercial vessel operators whose work is cyclical. The KVH Manager suite of tools provides an easy-to-access portal for managing operational and personal data use.

With the TracPhone V30, KVH has added a fourth system to its award-winning VSAT product line, which features the 37 cm TracPhone V3-HTS, the 60 cm TracPhone V7-HTS, and the 1 meter TracPhone V11-HTS, providing maximum data speeds ranging from 6/2 Mbps down/up to 20/3 Mbps down/up.

KVH is a mobile tech innovator that provides connectivity solutions for commercial maritime, leisure marine, and land mobile applications on vessels and vehicles, including the award-winning TracPhone and TracVision® product lines, the global mini-VSAT Broadband network, and AgilePlans® Connectivity as a Service. The company’s KVH Media Group provides news, sports, and entertainment content with such brands as NEWSlink™ and SPORTSlink™.

Note to Editors: For more information about TracPhone V30, please visit kvh.com/V30. High-resolution images of KVH products are available at the KVH Press Room Image Library, kvh.com/Press-Room/Image-Library.

About KVH Industries, Inc.

KVH Industries, Inc., is a global leader in mobile connectivity and inertial navigation systems, innovating to enable a mobile world. A market leader in maritime VSAT, KVH designs, manufactures, and provides connectivity and content services globally. KVH is also a premier manufacturer of high-performance sensors and integrated inertial systems for defense and commercial applications. Founded in 1982, the company is based in Middletown, RI, with research, development, and manufacturing operations in Middletown, RI, and Tinley Park, IL, and more than a dozen offices around the globe.

This press release contains forward-looking statements that involve risks and uncertainties. For example, forward-looking statements include statements regarding expected data speeds over our network, expected benefits to KVH customers, expected pricing of our new service and the expected level of coverage availability. Actual results could differ materially from the forward-looking statements made in this press release. Factors that might cause these differences include, but are not limited to: unanticipated technical and other challenges that arise during the launch of the new system; potential levels of customer demand for data services beyond our current expectations, which could exceed system capabilities in certain regions; unanticipated technical, legal and regulatory delays with the launch of the new product; and competition for satellite capacity, which over time could increase our costs and decrease service availability. These and other factors are discussed in more detail in KVH’s Annual Report on Form 10-K filed with the SEC on March 3, 2021. Copies are available through its Investor Relations department and website, http://investors.kvh.com. KVH does not assume any obligation to update our forward-looking statements to reflect new information and developments.

KVH Industries, Inc. has used, registered, or applied to register its trademarks in the U.S.A. and other countries around the world, including but not limited to the following marks: KVH, TracPhone, TracVision, mini-VSAT Broadband, AgilePlans, NEWSlink, and SPORTSlink. All other trademarks are the property of their respective companies.

For further information, please contact:

Jill Connors
Sr. Manager, Media & Industry Analyst Relations
KVH Industries, Inc.
Tel: +1 401 851 3824
[email protected]



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Simure: Viking Saga, a Brand New Simulation RPG by YOOZOO Games is now in Early Access for Android

Simure: Viking Saga, a Brand New Simulation RPG by YOOZOO Games is now in Early Access for Android

Become a Viking Jarl, consolidate your territory, inspire your people and embark on global voyages to uncharted seas!

SINGAPORE–(BUSINESS WIRE)–Gtarcade, the leading mobile game publisher known for its popular titles such as Game of Thrones: Winter is Coming or Legacy of Discord, is excited to announce a new simulation RPG, Simure: Viking Saga developed by YOOZOO Games, that is now going into early access on Google Play in US, Britain, Germany, Brazil, Indonesia and Russia.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210325005350/en/

Simure: Viking Saga early access open on March 25th, 2021 (Graphic: Business Wire)

Simure: Viking Saga early access open on March 25th, 2021 (Graphic: Business Wire)

In Simure: Viking Saga, players will simulate the life of a Viking Jarl in the 8th century and lead their clans to fight for survival and glory. The game presents a detailed depiction of Viking life with realistic and vibrant illustrations and environment designs, creating an immersive experience. Throughout history, the Vikings were a formidable people that valued strength and bravery, sailing the savage seas in search of new lands. In Simure: Viking Saga, players get to experience these various facets of Viking life.

Key features of Simure: Viking Saga include:

  • Living the life of a true Viking, either as a beloved and respected leader or a feared warlord
  • Governing your territory properly by collecting resources and training your soldiers to gradually strengthen your power
  • Recruiting legendary heroes to fight alongside you and grow your influence
  • Sailing away into the unknown, encountering new cultures and collecting exotic treasures

The early access starts on March 25th at the following local times and will last for a week:

  • 1am (West Coast US)
  • 4am (East Coast US)
  • 5am (Brazil)
  • 8am (UK)
  • 9am (Germany)
  • 11am (Russia)
  • 3pm (Indonesia)

During early access, players can redeem new characters at daily log-in. Players will also be rewarded with in-game currency, resources and passes to in-game content for following the game’s Facebook and Discord and for completing an in-game survey. Although the early access accounts will be reset after the test period, any purchases of in-game currencies will get a 200% return when the game officially launches.

For more information on the early access, check out this post. You can find the official Simure: Viking Saga press kit including the factsheet and imagery here.

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KEYWORDS: Indonesia Russia United Kingdom Germany Singapore Brazil South America Asia Pacific Europe

INDUSTRY KEYWORDS: Software Internet Audio/Video Online Mobile Entertainment Technology Electronic Games Entertainment

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Simure: Viking Saga early access open on March 25th, 2021 (Graphic: Business Wire)
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Engie EPS’ Technology Reconfirmed as Preferred Choice for Microgrids in the US

Engie EPS’ Technology Reconfirmed as Preferred Choice for Microgrids in the US

  • A new energy storage system in California integrating the microgrid already deployed in 2020
  • 9.6 MWh energy storage to increase the resilience of the microgrid enhancing grid stability and mitigating the effects of blackouts
  • The system responds to the main challenges in a microgrid, such as the lack of spinning reserve, while maximizing the penetration of 8.9 GWh of solar energy every year

PARIS & MILAN–(BUSINESS WIRE)–
Regulatory News:

Engie EPS (Paris:EPS) announces to have been awarded for the development of a new energy storage system in Anza, California, confirming again the competitive strength and excellence of the Industrial Solutions business line.

The new system will work synergically with the energy storage system that Engie EPS deployed in 2020 enhancing the performance of the microgrid commissioned in December last year.

Engie EPS’ will supply its cutting-edge technology to boost the microgrid storage capacity up to 4.8 MVA and 9.6 MWh – a system size that could alone provide clean spinning reserve to thermal generation up to 150 MW.

Engie EPS’ energy storage system will increase the resilience of the microgrid enhancing grid stability through peak shaving and will maximize the integration of 4.6 MWp PV generation that will generate approx. 8.9 GWh of solar energy every year. Powering critical and emergency loads, the energy storage system will also enable a seamless transition to off-grid operation in case of grid blackouts.

“This is the latest result in a long series of successes in the American continent confirming Engie EPS’ competitive strength in this highly competitive market, where we not only have 600 MWh of secured projects under development but also a strong record of excellence in deploying complex microgrids. Our 15-year expertise in microgrids allows us to integrate all kind of power sources, coupling traditional thermal generation with renewables, granting our clients a cleaner energy mix with the best of performance and reliability”, commented Carlalberto Guglielminotti, CEO and General Manager of Engie EPS.

The project execution phase has already started and commissioning is scheduled for November 2021.

* * *

ENGIE EPS

Engie EPS is the technology and industrial player within the ENGIE group, developing technologies to revolutionize the paradigm in the global energy system towards renewable energy sources and electric mobility. Listed on Euronext Paris regulated market (EPS.PA), Engie EPS forms part of the CAC® Mid & Small and CAC® All-Tradable financial indices. Its registered office is in Paris, with research, development and production located in Italy.

For further information, go to www.engie-eps.com

Press Office: Simona Raffaelli, Image Building, +39 02 89011300, [email protected]

Corporate and Institutional Communication: Cristina Cremonesi, +39 345 570 8686, [email protected]

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KEYWORDS: California North America France United States Europe Italy

INDUSTRY KEYWORDS: Alternative Energy Energy Other Energy Environment

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