Citizens Financial Group, Inc. Appoints Christopher J. Swift and Lee Alexander to Board of Directors

Citizens Financial Group, Inc. Appoints Christopher J. Swift and Lee Alexander to Board of Directors

Howard (Hoddy) Hanna to Retire from Board in April 2021

PROVIDENCE, R.I.–(BUSINESS WIRE)–
Citizens Financial Group, Inc. (NYSE: CFG) today announced the appointment of Christopher (Chris) J. Swift and Lee Alexander to its board of directors, effective February 1, 2021. Mr. Swift currently serves as Chairman and Chief Executive Officer of The Hartford Financial Services Group, a national leader in property and casualty insurance, group benefits and mutual funds, founded in 1810. Mr. Alexander is the Executive Vice President and Chief Information Officer for The Clearing House, operator of core payments system infrastructure in the United States, including a real-time payment system. Mr. Swift will serve on the board’s Risk Committee, and Mr. Alexander will serve on the board’s Audit Committee.

“We are pleased to welcome both Chris and Lee to our board of directors,” said Chairman and Chief Executive Officer Bruce Van Saun. “Chris is a standout CEO in the financial services industry, with significant experience in transformation and positioning a venerable company for the future. Lee brings tremendous insights into new technologies, cybersecurity, data analytics and payments gleaned from his experience at The Clearing House and the Federal Reserve Bank of New York. We are fortunate to attract such talented directors as we continue our journey to drive shareholder value and become a top performing bank.”

Citizens also announced that Howard (Hoddy) Hanna, who has served on the Citizens Board since 2009, will retire from the board after his current term expires at the end of April 2021, given mandatory age considerations under the bank’s corporate governance guidelines. Hanna has served as a member of the board’s Audit Committee and Nominating & Corporate Governance Committee. Hanna is Chair of Hanna Holdings, the third largest real estate company in the U.S., as well as Chair of the Children’s Hospital of Pittsburgh.

The Board will increase in size to 14 directors on February 1, 2021, before dropping back to 13 directors in April at the Annual Shareholder’s Meeting.

Van Saun continued, “I would like to thank Hoddy for the fine contribution he’s made to Citizens over the years. We’ve all very much enjoyed working with him and wish him well in life’s next chapter.”

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $179.2 billion in assets as of September 30, 2020. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,700 ATMs and approximately 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.

Media: Peter Lucht –781.655.2289

Investors: Kristin Silberberg – 203.900.6854

KEYWORDS: Rhode Island United States North America

INDUSTRY KEYWORDS: Banking Other Professional Services Professional Services Finance

MEDIA:

Moderna Announces Primary Efficacy Analysis in Phase 3 COVE Study for Its COVID-19 Vaccine Candidate and Filing Today with U.S. FDA for Emergency Use Authorization

Moderna Announces Primary Efficacy Analysis in Phase 3 COVE Study for Its COVID-19 Vaccine Candidate and Filing Today with U.S. FDA for Emergency Use Authorization

Primary efficacy analysis of the Phase 3 COVE study of mRNA-1273 involving 30,000 participants included 196 cases of COVID-19, of which 30 cases were severe

Vaccine efficacy against COVID-19 was 94.1%; vaccine efficacy against severe COVID-19 was 100%

mRNA-1273 continues to be generally well tolerated; no serious safety concerns identified to date

Phase 3 COVE Study has exceeded 2 months of median follow-up post vaccination as required by the U.S. FDA for Emergency Use Authorization (EUA)

Moderna plans today to request EUA from the U.S. FDA, to apply for a conditional marketing authorization with the European Medicines Agency (EMA) and to progress with the rolling reviews, which have already been initiated with international regulatory agencies

FDA has told Company to expect VRBPAC meeting for mRNA-1273 likely on December 17, 2020

CAMBRIDGE, Mass.–(BUSINESS WIRE)–Moderna, Inc. (Nasdaq: MRNA), a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines to create a new generation of transformative medicines for patients, today announced that the primary efficacy analysis of the Phase 3 study of mRNA-1273 conducted on 196 cases confirms the high efficacy observed at the first interim analysis. The data analysis indicates a vaccine efficacy of 94.1%. Safety data continue to accrue and the study continues to be monitored by an independent, NIH-appointed Data Safety Monitoring Board (DSMB). The Company also announced that today, Moderna plans to request an Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) and conditional approval from the European Medicines Agency (EMA). The Phase 3 study, known as the COVE study, enrolled more than 30,000 participants in the U.S. and is being conducted in collaboration with the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH), and the Biomedical Advanced Research and Development Authority (BARDA), part of the Office of the Assistant Secretary for Preparedness and Response at the U.S. Department of Health and Human Services.

The primary endpoint of the Phase 3 COVE study is based on the analysis of COVID-19 cases confirmed and adjudicated starting two weeks following the second dose of vaccine. Vaccine efficacy has been demonstrated at the first interim analysis with a total of 95 cases based on the pre-specified success criterion on efficacy. Today’s primary analysis was based on 196 cases, of which 185 cases of COVID-19 were observed in the placebo group versus 11 cases observed in the mRNA-1273 group, resulting in a point estimate of vaccine efficacy of 94.1%. A secondary endpoint analyzed severe cases of COVID-19 and included 30 severe cases (as defined in the study protocol) in this analysis. All 30 cases occurred in the placebo group and none in the mRNA-1273 vaccinated group. There was one COVID-19-related death in the study to date, which occurred in the placebo group.

Efficacy was consistent across age, race and ethnicity, and gender demographics. The 196 COVID-19 cases included 33 older adults (ages 65+) and 42 participants identifying as being from diverse communities (including 29 Hispanic or LatinX, 6 Black or African Americans, 4 Asian Americans and 3 multiracial participants).

The safety profile of the Phase 3 study of mRNA-1273 was previously described on November 16. A continuous review of safety data is ongoing and no new serious safety concerns have been identified by the Company. Based on prior analysis, the most common solicited adverse reactions included injection site pain, fatigue, myalgia, arthralgia, headache, and erythema/redness at the injection site. Solicited adverse reactions increased in frequency and severity in the mRNA-1273 group after the second dose.

The Company will submit data from the Phase 3 COVE study to a peer-reviewed publication.

“This positive primary analysis confirms the ability of our vaccine to prevent COVID-19 disease with 94.1% efficacy and importantly, the ability to prevent severe COVID-19 disease. We believe that our vaccine will provide a new and powerful tool that may change the course of this pandemic and help prevent severe disease, hospitalizations and death,” said Stéphane Bancel, Chief Executive Officer of Moderna. “I want to thank the thousands of participants in our Phase 1, Phase 2 and Phase 3 studies, as well as the staff at clinical trial sites who have been on the front lines of the fight against the virus. I would again like to thank our partners at NIH, NIAID, BARDA and Operation Warp Speed who have helped us advance the clinical development of mRNA-1273. Finally, I want to thank the Moderna team and our suppliers and partners for their tireless work on the research, development and manufacturing of our vaccine. We will file today for an Emergency Use Authorization from the FDA and continue forging ahead with the rolling reviews that have already been initiated with several regulatory agencies around the globe.”

Today, Moderna will submit for an EUA with the U.S. FDA and an application for Conditional Marketing Authorization (CMA) with the European Medicines Agency. The Company has already initiated the rolling review process with the EMA, Health Canada, SwissMedic, the United Kingdom Medicines and Healthcare products Regulatory Agency (MHRA), Ministry of Health in Israel, and Health Sciences Authority in Singapore and intends to seek Prequalification (PQ) and/or Emergency Use Listing (EUL) with the World Health Organization (WHO).

Additionally, Moderna announced that the FDA’s Vaccines and Related Biological Products Advisory Committee (VRBPAC) meeting to review the safety and efficacy data package for mRNA-1273 will likely be scheduled for Thursday, December 17. The Company expects that the U.S. Centers for Disease Control and Prevention (CDC) Advisory Committee on Immunization Practices (ACIP) will make a recommendation on immunization priorities. The Company anticipates that the shipping of mRNA-1273 to designated distribution points throughout the U.S. will occur shortly after an Emergency Use Authorization is granted.

Moderna is working with the U.S. CDC, Operation Warp Speed and McKesson (NYSE: MCK), a COVID-19 vaccine distributor contracted by the U.S. government, as well as global stakeholders to be prepared for distribution of mRNA-1273, in the event that it receives an EUA and similar global authorizations and approvals. By the end of 2020, the Company expects to have approximately 20 million doses of mRNA-1273 available in the U.S. The Company remains on track to manufacture 500 million to 1 billion doses globally in 2021. On November 10, the American Medical Association (AMA) issued a Current Procedural Terminology (CPT) code to report vaccination with mRNA-1273 (code: 91301). Moderna recently announced further progress towards ensuring the distribution, storage and handling of the vaccine can be done using existing infrastructure.

To learn more about Moderna’s work on mRNA-1273, visit www.modernatx.com/COVID19.

About the Phase 3 COVE Study

The Phase 3 COVE trial is a randomized, 1:1 placebo-controlled study testing mRNA-1273 at the 100 µg dose level in 30,000 participants in the U.S., ages 18 and older. The primary endpoint is the prevention of symptomatic COVID-19 disease. Key secondary endpoints include prevention of severe COVID-19 disease and prevention of infection by SARS-CoV-2. The trial will continue to accrue additional data relevant to safety and efficacy even after an EUA is submitted. The final estimates of vaccine efficacy for both primary and secondary endpoints will depend on the totality of data that will accumulate to inform the final analysis. Moderna worked closely with BARDA and the NIH, including NIAID’s COVID-19 Prevention Network (CoVPN), to conduct the Phase 3 COVE study under Operation Warp Speed. Moderna’s partner PPD (Nasdaq: PPD), a leading global contract research organization providing comprehensive, integrated drug development, laboratory and lifecycle management services, has also been essential to the successful execution of the COVE study.

The Phase 3 COVE study was designed in collaboration with the FDA and NIH to evaluate Americans at risk of severe COVID-19 disease and completed enrollment of more than 30,000 participants ages 18 and older in the U.S. on October 22, including those at high risk of severe complications of COVID-19 disease. The COVE study includes more than 7,000 Americans over the age of 65. It also includes more than 5,000 Americans who are under the age of 65 but have high-risk chronic diseases that put them at increased risk of severe COVID-19, such as diabetes, severe obesity and cardiac disease. These medically high-risk groups represent 42% of the total participants in the Phase 3 COVE study. The study also included communities that have historically been under-represented in clinical research and have been disproportionately impacted by COVID-19. The study includes more than 11,000 participants from communities of color, representing 37% of the study population, which is similar to the diversity of the U.S. at large. This includes more than 6,000 participants who identify as Hispanic or LatinX, and more than 3,000 participants who identify as Black or African American.

About mRNA-1273

mRNA-1273 is an mRNA vaccine against COVID-19 encoding for a prefusion stabilized form of the Spike (S) protein, which was co-developed by Moderna and investigators from NIAID’s Vaccine Research Center. The first clinical batch, which was funded by the Coalition for Epidemic Preparedness Innovations, was completed on February 7, 2020 and underwent analytical testing; it was shipped to the NIH on February 24, 42 days from sequence selection. The first participant in the NIAID-led Phase 1 study of mRNA-1273 was dosed on March 16, 63 days from sequence selection to Phase 1 study dosing. On May 12, the FDA granted mRNA-1273 Fast Track designation. On May 29, the first participants in each age cohort: adults ages 18-55 years (n=300) and older adults ages 55 years and above (n=300) were dosed in the Phase 2 study of mRNA-1273. On July 8, the Phase 2 study completed enrollment.

Results from the second interim analysis of the NIH-led Phase 1 study of mRNA-1273 in the 56-70 and 71+ age groups were published on September 29 in The New England Journal of Medicine. On July 28, results from a non-human primate preclinical viral challenge study evaluating mRNA-1273 were published in The New England Journal of Medicine. On July 14, an interim analysis of the original cohorts in the NIH-led Phase 1 study of mRNA-1273 was published in The New England Journal of Medicine. mRNA-1273 currently is not approved for use by any regulatory body.

BARDA is supporting the continued research and development of mRNA-1273 with $955 million in federal funding under Contract no. 75A50120C00034. BARDA is reimbursing Moderna for 100 percent of the allowable costs incurred by the Company for conducting the program described in the BARDA contract. The U.S. government has agreed to provide up to $1.525 billion to purchase supply of mRNA-1273 under U.S. Department of Defense Contract No. W911QY-20-C-0100.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including regarding the Company’s development of a potential vaccine (mRNA-1273) against the novel coronavirus, mRNA-1273’s efficacy and its ability to prevent infection or mitigate symptoms of COVID-19, the safety profile for mRNA-1273, the Company’s plans to seek regulatory approval for the use of mRNA-1273 in the U.S. and other jurisdictions, the Company’s anticipated production of mRNA-1273, and the timing of the initial shipments of mRNA-1273. In some cases, forward-looking statements can be identified by terminology such as “will,” “may,” “should,” “could”, “expects,” “intends,” “plans,” “aims,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others: the fact that there has never been a commercial product utilizing mRNA technology approved for use; the fact that the rapid response technology in use by Moderna is still being developed and implemented; the safety, tolerability and efficacy profile of mRNA-1273 observed to date may change adversely in ongoing analyses of trial data or subsequent to commercialization; despite having ongoing interactions with the FDA or other regulatory agencies, the FDA or such other regulatory agencies may not agree with the Company’s regulatory approval strategies, components of our filings, such as clinical trial designs, conduct and methodologies, or the sufficiency of data submitted; Moderna may encounter delays in meeting manufacturing or supply timelines or disruptions in its distribution plans for mRNA-1273; whether and when any biologics license applications and/or emergency use authorization applications may be filed and ultimately approved by regulatory authorities; potential adverse impacts due to the global COVID-19 pandemic such as delays in regulatory review, manufacturing and clinical trials, supply chain interruptions, adverse effects on healthcare systems and disruption of the global economy; and those other risks and uncertainties described under the heading “Risk Factors” in Moderna’s most recent Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (SEC) and in subsequent filings made by Moderna with the SEC, which are available on the SEC’s website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna’s current expectations and speak only as of the date hereof.

Media:

Colleen Hussey

Director, Corporate Communications

617-335-1374

[email protected]

Investors:

Lavina Talukdar

Senior Vice President & Head of Investor Relations

617-209-5834

[email protected]

KEYWORDS: Massachusetts United States North America

INDUSTRY KEYWORDS: Research Infectious Diseases Clinical Trials Biotechnology Other Health Health Pharmaceutical Other Science Science

MEDIA:

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Carrier Plans to Reduce Customers’ Carbon Footprint by More than One Gigaton

Sets ambitious, new 2030 sustainability goals

Aims for carbon neutrality by 2030

Planned investment of more than $2 billion in healthy, safe and sustainable solutions for buildings and cold chain

PR Newswire

PALM BEACH GARDENS, Fla., Nov. 30, 2020 /PRNewswire/ — Carrier Global Corporation (NYSE: CARR) today announced the company’s first set of Environmental, Social & Governance (ESG) goals since becoming an independent company in April. Building on the company’s vision to create solutions that matter for people and our planet, Carrier is targeting carbon neutrality across its operations by 2030. The company is also aiming to reduce its customers’ carbon footprint by more than one gigaton, supported by a planned investment of more than $2 billion over the next 10 years toward the development of healthier, safer and more sustainable building and cold chain solutions.

“At Carrier, we are applying our industry-leading innovation to fight climate change through new energy-efficient product offerings and through lower emissions in our operations,” said Dave Gitlin, President & CEO, Carrier. “Our 2030 goals will drive our company to be a positive catalyst for societal change in our areas of expertise, including healthy buildings and the cold chain, as well as in the communities in which we operate around the world.”

The 2030 ESG Goals include a transformation of the company’s operations to be carbon-neutral while maintaining world-class safety metrics, and the incorporation of leading sustainable design principles from manufacturing through end-of-life.

Additional goals include the following:

  • Achieve carbon and water neutral operations and deliver zero-waste to landfill from our manufacturing locations
  • Establish a responsible supply chain program and assess key factory suppliers against program criteria
  • Achieve gender parity in senior leadership roles and a diverse workforce that represents the communities in which Carrier’s employees live and work
  • Positively impact our communities through enabling access to safe and healthy indoor environments, alleviating hunger and food waste, and volunteering our time and talent
  • Invest in STEM education programs that promote diversity and inclusion, and promote sustainability through education, partnerships and climate resiliency programs
  • Maintain world-class safety metrics

The full list of Carrier’s 2030 ESG Goals is available at corporate.carrier.com. Carrier’s new ESG strategy and goals build on the company’s performance outlined in the 2020 ESG Report, released in July. The report details Carrier’s ESG achievements in 2019 against 2020 goals and serves as a baseline for many of the 2030 ESG Goals.


About Carrier

As the leading global provider of healthy, safe and sustainable building and cold chain solutions, Carrier Global Corporation is committed to making the world safer, sustainable and more comfortable for generations to come. From the beginning, we’ve led in inventing new technologies and entirely new industries. Today, we continue to lead because we have a world-class, diverse workforce that puts the customer at the center of everything we do. For more information, visit www.Corporate.Carrier.com or follow us on social media at @Carrier.

CARR-IR

Cautionary Statement:

This press release contains forward-looking statements (including statements that constitute forward-looking statements under the securities laws). These forward-looking statements are intended to provide management’s current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements may include, among other things, statements relating to future sales, earnings, cash flow, results of operations, uses of cash, share repurchases, tax rates and other measures of financial performance or potential future plans, strategies or transactions of Carrier, estimated costs associated with the separation from United Technologies, statements with respect to current and future potential implications of corporate social responsibility and sustainability topics and other statements that are not historical facts. All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995. The forward-looking statements speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Additional information as to factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements is disclosed from time to time in our other filings with the Securities and Exchange Commission.


Contact:

Ashley Barrie

860-416-3657


[email protected]

 

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SOURCE Carrier Global Corporation

Ondas Holdings Inc. Announces $30,000,000 Follow-On Public Offering

Ondas Holdings Inc. Announces $30,000,000 Follow-On Public Offering

SUNNYVALE, Calif.–(BUSINESS WIRE)–
Ondas Holdings Inc. (OTCQB: ONDSD), through its wholly owned subsidiary, Ondas Networks Inc., a developer of private licensed wireless data networks for mission-critical industrial markets (the “Company”), today announced that it has commenced a proposed $30,000,000 follow-on public offering of its common stock pursuant to a registration statement on Form S-1 with the U.S. Securities and Exchange Commission. In connection with the offering, the Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering.

Oppenheimer & Co. Inc. is acting as the sole book-running manager for the proposed offering. National Securities Corporation is acting as lead manager. Northland Capital Markets and Spartan Capital Securities, LLC are acting as co-managers for the offering.

The proposed offering is being made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from: Oppenheimer & Co. Inc., Attn: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, New York 10004, by telephone at (212) 667-8055, or by email at [email protected]. A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Ondas Holdings Inc.

Ondas Holdings Inc., through its wholly owned subsidiary, Ondas Networks Inc., is a developer of private licensed wireless data networks for mission-critical industrial markets. The Company designs and manufactures its multi-patented, Software Defined Radio (SDR) platform for Mission Critical IoT (MC- IoT) applications. Ondas Networks’ customer end markets include utilities, oil and gas, transportation, and government entities whose demands span a wide range of mission critical applications that require secure communications over large and diverse geographical areas, many of which are within challenging radio frequency environments. Customers use the Company’s SDR technology to deploy their own private licensed broadband wireless networks. The Company also offers mission-critical entities the option of a managed network service. Ondas Networks’ SDR technology supports IEEE 802.16s, the new worldwide standard for private licensed wide area industrial networks. For additional information, visit www.ondas.com, www.otcmarkets.com or follow Ondas Networks on Twitter and LinkedIn.

Forward Looking Statements

Statements made in this release that are not statements of historical or current facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. We caution readers that forward-looking statements are predictions based on our current expectations about future events.

These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance, or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including, the risks discussed under the heading “Risk Factors” in our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) on March 13, 2020, in our Quarterly Report on Form 10-Q filed with the SEC on November 6, 2020, and in our other filings with the SEC. We undertake no obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as required by law.

Investors:

Stewart Kantor, CFO

Ondas Holdings Inc.

888.350.9994 Ext. 1009

Media:

Dan Gagnier / Jeff Mathews

Gagnier Communications

646.569.5897

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Software Technology Mobile/Wireless Data Management

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Lannett Pays Off, In Full, Remaining Term A Loans

PR Newswire

PHILADELPHIA, Nov. 30, 2020 /PRNewswire/ — Lannett Company, Inc. (NYSE: LCI) today announced that the company used a portion of its existing cash on hand to pay off, in full, the remaining $42 million outstanding balance of its Term A Loans.

“Paying off our Term A Loans is an important achievement and a key step toward strengthening our balance sheet and improving our long-term financial health,” said Tim Crew, chief executive officer of Lannett. “This payoff will result in annual reductions of interest expense and principal payments of approximately $3 million and $27 million, respectively. At the same time, we have enhanced our financial flexibility, as the company’s remaining debt is free of financial covenants.”

About Lannett Company, Inc.:
Lannett Company, founded in 1942, develops, manufactures, packages, markets and distributes generic pharmaceutical products for a wide range of medical indications.  For more information, visit the company’s website at www.lannett.com.

This news release contains certain statements of a forward-looking nature relating to future events or future business performance.  Any such statement, including, but not limited to, successfully paying off the company’s remaining outstanding debt, whether expressed or implied, is subject to market and other conditions, and subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated due to a number of factors which include, but are not limited to, the risk factors discussed in the Company’s Form 10-K and other documents filed with the SEC from time to time, including the prospectus supplement related to the proposed offering to be filed with the SEC.  These forward-looking statements represent the Company’s judgment as of the date of this news release.  The Company disclaims any intent or obligation to update these forward-looking statements.

Contact: 

Robert Jaffe

Robert Jaffe Co., LLC

(424) 288-4098

 

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SOURCE Lannett Company, Inc.

Adient finishes the year strong, reports fourth quarter and full-year 2020 financial results

Company enters FY21 with positive momentum that is expected to drive earnings and cash flow growth in FY21

PR Newswire

PLYMOUTH, Mich., Nov. 30, 2020 /PRNewswire/ — Adient (NYSE: ADNT), a global leader in automotive seating, today announced fourth quarter 2020 financial results.

  • Impacted by one-time, non-cash charges, Q4 GAAP net loss and EPS diluted of $(36)M and $(0.38) respectively; Q4 Adj.-EPS diluted of $1.15
  • Q4 Adj.-EBIT and Adj.-EBITDA of $199M and $287M, respectively; Q4 Adj.-EBITDA up 33% y-o-y despite an 8% decrease in revenue (Q4 revenue impacted by lower y-o-y global production volumes and Adient specific launches)
  • Cash and cash equivalents of $1,692M at Sept. 30, 2020; total liquidity ~$2.5B at Sept. 30, 2020
  • Gross debt and net debt totaled $4,307M and $2,615M, respectively, at Sept. 30, 2020; the company voluntarily began to repay a portion of its debt in Q4 ($103.5M in principal using $99.8M in cash)

For complete details and to see reconciliations of non-GAAP measures to their most directly comparable GAAP measures, visit the events section of the Adient investor website at www.investors.adient.com/events-and-presentations/events to download the full press release and earnings presentation.

Investor analyst conference call:
Adient’s president and chief executive officer, Douglas Del Grosso, and executive vice president and chief financial officer, Jeff Stafeil, will host a conference call today at 8:30 a.m. Eastern to discuss the results. To participate by telephone, please dial 800-779-1454 (U.S.) or 312-470-7220 (international) 15 minutes prior to the start time of the call and ask to be connected to the Adient conference call. The conference passcode is ADIENT.

About Adient:
Adient (NYSE: ADNT) is a global leader in automotive seating. With approximately 77,000 employees in 32 countries, Adient operates 202 manufacturing/assembly plants worldwide. We produce and deliver automotive seating for all major OEMs. From complete seating systems to individual components, our expertise spans every step of the automotive seat-making process. Our integrated, in-house skills allow us to take our products from research and design to engineering and manufacturing — and into more than 23 million vehicles every year. For more information on Adient, please visit www.adient.com.

Cautionary Statement Regarding Forward-Looking Statements:
Adient has made statements in this document that are forward-looking and, therefore, are subject to risks and uncertainties. All statements in this document other than statements of historical fact are statements that are, or could be, deemed “forward- looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In this document, statements regarding Adient’s future financial position, sales, costs, earnings, cash flows, other measures of results of operations, capital expenditures or debt levels and plans, objectives, outlook, targets, guidance or goals are forward-looking statements. Words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “forecast,” “project” or “plan” or terms of similar meaning are also generally intended to identify forward-looking statements. Adient cautions that these statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond Adient’s control, that could cause Adient’s actual results to differ materially from those expressed or implied by such forward-looking statements, including, among others, risks related to: the continued financial and operational impacts of and uncertainties relating to the COVID-19 pandemic on Adient and its customers, suppliers, joint venture partners and other parties, the ability of Adient to effectively launch new business at forecast and profitable levels, the ability of Adient to execute its turnaround plan, uncertainties in U.S. administrative policy regarding trade agreements, tariffs and other international trade relations, the impact of tax reform legislation through the Tax Cuts and Jobs Act, the ability of Adient to meet debt service requirements, terms of financing, general economic and business conditions, the strength of the U.S. or other economies, automotive vehicle production levels, mix and schedules, energy and commodity prices, the availability of raw materials and component products, currency exchange rates, the cancellation of or changes to commercial arrangements, and the ability of Adient to identify, recruit and retain key leadership. A detailed discussion of risks related to Adient’s business is included in the section entitled “Risk Factors” in Adient’s Annual Report on Form 10-K for the fiscal year ended September 30, 2019 filed with the SEC on November 22, 2019 and subsequent quarterly reports on Form 10-Q filed with the SEC, available at www.sec.gov. Potential investors and others should consider these factors in evaluating the forward-looking statements and should not place undue reliance on such statements. The forward-looking statements included in this document are made only as of the date of this document, unless otherwise specified, and, except as required by law, Adient assumes no obligation, and disclaims any obligation, to update such statements to reflect events or circumstances occurring after the date of this document.

In addition, this document includes certain projections provided by Adient with respect to the anticipated future performance of Adient’s businesses. Such projections reflect various assumptions of Adient’s management concerning the future performance of Adient’s businesses, which may or may not prove to be correct. The actual results may vary from the anticipated results and such variations may be material. Adient does not undertake any obligation to update the projections to reflect events or circumstances or changes in expectations after the date of this document or to reflect the occurrence of subsequent events. No representations or warranties are made as to the accuracy or reasonableness of such assumptions or the projections based thereon.

ADNT-FN

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SOURCE Adient

Jacobs To Acquire Majority Stake in PA Consulting

Jacobs and PA Consulting form strategic partnership to capture next wave of digital revolution

Joint client-focused growth teams drive revenue synergies in key sectors

Builds significant business through innovation, technical, digital and consulting solutions

Expect fiscal year 2022 adjusted EPS accretion of >$0.52

PR Newswire

DALLAS, Nov. 30, 2020 /PRNewswire/ — Jacobs (NYSE:J) and PA Consulting, a leading innovation and transformation consulting firm, announced today that they will form a strategic partnership in which Jacobs will acquire a 65% stake in PA. The investment places an enterprise value of PA at £1.825 billion ($2.4 billion). The remaining 35% stake will be held by PA employees, following the exit of existing majority stakeholder, The Carlyle Group. 

“We are on the cusp of the next digital revolution as advances across 5G-driven compute power, robotics, autonomous technology, machine learning automation and geospatial technology converge to provide solutions to many of the world’s most complex challenges, including disruption to traditional business models,” said Jacobs Chair and CEO Steve Demetriou. “Our partnership with PA forms a unique offering in the market that combines strategic front-end consulting and deep domain knowledge across key sectors with next generation science and technology expertise.

Over the last several years we have transformed Jacobs to a leading technology enabled solutions provider built on a foundation of strong core values with an inclusive and diverse culture. This strategic partnership is an intentional move in accelerating our strategy to lead the market as a company like no other.”

PA has delivered strong growth over the last five years, resulting in EBITDA more than doubling over the period and achieving compound annual revenue growth of 12% since 2016.

From its inception in 1943, PA has worked with a wide range of clients – from start-ups with a promising idea to change the world to some of the most important global companies and organizations – to find innovative ways to be faster and nimbler, and to create the services and products that grow their businesses, delight their customers and the global community. PA has developed world-leading innovations with Virgin Hyperloop to reinvent transport, with Ori Biotech to revolutionize cell and gene therapy manufacturing and with public utilities leveraging iPredict™, the world’s first AI and Machine Learning system to predict failures in critical underground electricity distribution assets.

Partnership Between Jacobs and PA Accelerates Shift to Global Leader in High Value Solutions

  • Sets a new industry benchmark in differentiated solutions that deliver end-to-end value for Jacobs and PA clients, employees and investors – changing the shape of the industry.
  • Transforms PA to a global player at scale; accelerating their growth plan through access to Jacobs client base and global platform, particularly in the U.S.
  • Advances opportunities for both Jacobs and PA employees through collaboration and co-creation of innovative solutions.
  • Provides timely positioning of ingenious solutions-based platforms for enhanced agility in response to current-day challenges such as climate change, decarbonization, urbanization and the ongoing healthcare crisis. 
  • Targets joint go-to-market teams toward initial high growth sectors of Health and Life Sciences, Public Services, Consumer and Manufacturing, and Defense and Security to capitalize on immediate revenue synergy opportunities.

CEO of PA Consulting Ken Toombs said, ”We see Jacobs as the ideal partner for PA, leveraging their client relationship networks and global platform to position us for the next phase of growth. Their purpose to create a connected sustainable world and commitment to an inclusive future for all aligns with our own purpose – Bringing Ingenuity to Life – and our commitment to innovate towards a positive human future. We look forward to continuing to deliver ingenious solutions for our clients, supported by Jacobs’ investment and our partnership.”

Demetriou continued, “The partnership respects and preserves PA’s heritage and independence under Ken Toombs’ leadership – while creating superior value for Jacobs shareholders and significant opportunities for our clients and employees.”

Transaction Terms and Financing

The transaction is structured as a private equity style investment, with Jacobs acquiring a 65% stake in the form of preferred and common equity, with PA employee rollover constituting the remaining 35% ownership stake at closing. Preferred equity holders receive a 12% compounded annual coupon accrual. A sweet equity incentive pool of 25% of the common equity is available for issuance to current and future partners and employees of PA. The sweet equity pool will be funded after satisfying the coupon on the preferred equity. In addition, Jacobs will provide debt financing to PA in the form of a £650 million ($845 million) term loan and a revolving credit facility of up to £100 million ($130 million) to fund future growth. Jacobs intends to fund the acquisition through a combination of cash-on-hand and existing and incremental debt facilities.

The transaction, will be implemented by way of a U.K. Scheme of Arrangement and is subject to the satisfaction of customary closing conditions, including the approval of the current shareholders of PA and the U.K. Court (pursuant to the Scheme), as well as the U.K. Financial Conduct Authority. 

Jacobs expects the transaction to close by the end of its fiscal 2021 second quarter.

Advisors

Rothschild & Co. is serving as exclusive financial advisor and Fried, Frank, Harris, Shriver & Jacobson LLP is serving as legal counsel to Jacobs.

J.P. Morgan and HSBC are serving as financial advisors to The Carlyle Group and PA. Linklaters is serving as legal counsel to The Carlyle Group and PA, and Dickson Minto is serving as legal counsel to the management of PA.

Conference Call

Jacobs will host a conference call today, Monday, November 30, 2020, at 8:30 a.m. ET to discuss this transaction with the financial community. Interested parties can listen to the conference call via a webcast or dial in and view the accompanying slides at jacobs.com and paconsulting.com.

Conference ID: 5778514
Participant Toll Free Dial-In Number: (833) 231-8270
Participant International Dial-In Number: (647) 689-4115

About Jacobs

At Jacobs, we’re challenging today to reinvent tomorrow by solving the world’s most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With approximately $14 billion in revenue and a talent force of more than 55,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit jacobs.com and connect with Jacobs on Facebook, InstagramLinkedIn and Twitter.

About PA Consulting

We believe in the power of ingenuity to build a positive human future in a technology-driven world. As strategies, technologies and innovation collide, we create opportunity from complexity. Our diverse teams of experts combine innovative thinking and breakthrough use of technologies to progress further, faster. Our clients adapt and transform, and together we achieve enduring results. An innovation and transformation consultancy, we are over 3,200 specialists in defence and security, consumer and manufacturing, government, health and life sciences, transport, energy and utilities, and financial services. Our people are strategists, innovators, designers, consultants, digital experts, scientists, engineers and technologists. We operate globally from offices across the U.K., U.S., Europe, and the Nordics.

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are forward-looking statements, including statements regarding whether and when the proposed transaction will be consummated and the anticipated benefits thereof. We base these forward-looking statements on management’s current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of risks, uncertainties and other factors that could cause business results to differ materially from our forward-looking statements. The potential risks and uncertainties include, among others, the possibility that PA Consulting may be unable to obtain required shareholder or regulatory approval or that other conditions to closing the transaction may not be satisfied, such that the transaction will not close or that the closing may be delayed; general economic conditions; the possibility of unexpected costs, liabilities or delays in connection with the transaction; risks that the transaction disrupts current plans and operations of Jacobs or PA Consulting; the ability to recognize the benefits of the transaction; the amount of the costs, fees, expenses and charges related to the transaction and the actual terms of any financings that will be obtained for the transaction; and the outcome of any legal proceedings related to the transaction. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see our Annual Report on Form 10-K for the year ended October 2, 2020, and in particular the discussions contained under Item 1 – Business; Item 1A – Risk Factors; Item 3 – Legal Proceedings; and Item 7 – Management’s Discussion and Analysis of Financial Condition and Results of Operations, as well as the company’s other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.

Non-GAAP Financial Measures

In this press release, the company has included a certain non-GAAP financial measure as defined in Regulation G promulgated under the Securities Exchange Act of 1934, as amended. The non-GAAP financial measure included in this press release is the expected accretion of the transaction to Jacobs’ adjusted earnings per share (EPS) for fiscal 2022. Reconciliation of this financial measure to the most directly comparable GAAP measure is not available without unreasonable efforts because Jacobs cannot predict with sufficient certainty all the components required to provide such reconciliation, including with respect to the costs and charges relating to transaction related expenses to be incurred in fiscal 2022 and subsequent periods. Jacobs provides non-GAAP financial measures to supplement U.S. GAAP measures, as they provide additional insight into Jacobs’ financial results. However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation and are not in accordance, or a substitute for, U.S. GAAP. In addition, other companies may define non-GAAP measures differently, which limits the ability of investors to compare non-GAAP measures of Jacobs to those used by peer companies.

For additional information contact:

Investors:
Jonathan Doros, 214-583-8596
[email protected]

Media:
Marietta Hannigan, 214-920-8035
[email protected]

 

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Merck to Present at the 2020 Evercore ISI 3rd Annual HealthCONx Virtual Conference

Merck to Present at the 2020 Evercore ISI 3rd Annual HealthCONx Virtual Conference

KENILWORTH, N.J.–(BUSINESS WIRE)–
Merck (NYSE: MRK), known as MSD outside the United States and Canada, announced today that Robert M. Davis, chief financial officer and executive vice president, Merck Global Services, is scheduled to participate in a virtual fireside chat at the Evercore ISI 3rd Annual HealthCONx Conference on Dec. 2, 2020, at 9:40 a.m. EST.

Investors, analysts, members of the media and the general public are invited to listen to a live audio webcast of the presentation at https://www.merck.com/investor-relations/events-and-presentations/.

About Merck

For more than 125 years, Merck, known as MSD outside of the United States and Canada, has been inventing for life, bringing forward medicines and vaccines for many of the world’s most challenging diseases in pursuit of our mission to save and improve lives. We demonstrate our commitment to patients and population health by increasing access to health care through far-reaching policies, programs and partnerships. Today, Merck continues to be at the forefront of research to prevent and treat diseases that threaten people and animals – including cancer, infectious diseases such as HIV and Ebola, and emerging animal diseases – as we aspire to be the premier research-intensive biopharmaceutical company in the world. For more information, visit www.merck.com and connect with us on Twitter, Facebook, Instagram, YouTube and LinkedIn.

Forward-Looking Statement of Merck & Co., Inc., Kenilworth, N.J., USA

This news release of Merck & Co., Inc., Kenilworth, N.J., USA (the “company”) includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.

Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of the global outbreak of novel coronavirus disease (COVID-19); the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.

The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company’s 2019 Annual Report on Form 10-K and the company’s other filings with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov).

Media Contact:

Pamela Eisele

(267) 305-3558

Investor Contacts:

Peter Dannenbaum

(908) 740-1037

Michael DeCarbo

(908) 740-1807

KEYWORDS: New Jersey United States North America

INDUSTRY KEYWORDS: Infectious Diseases Biotechnology Pharmaceutical Health

MEDIA:

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Vista Gold Corp. and the Jawoyn Association Modify Agreement to Include a Royalty and Mutual Cooperation and Support Commitments

DENVER, Nov. 30, 2020 (GLOBE NEWSWIRE) — Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced that the Company, Jawoyn Association Aboriginal Corporation (“Jawoyn Association”), and Barnjarn Aboriginal Corporation have entered into a Deed of Variation (the “Agreement”) to modify the original 2006 agreement with respect to the Mt Todd gold project (“Mt Todd” or the “Project”). 

The Agreement provides the Jawoyn Association with a gross proceeds royalty (“GPR”) instead of its previous right to become a 10% participating joint venture partner in Mt Todd and provides Vista with greater flexibility in its decisions to develop and operate Mt Todd. In addition, Vista and the Jawoyn Association agreed to establish a leaders forum, formalized the Jawoyn Association’s strong support for Mt Todd and outlined a framework to optimize training, employment, and contracting opportunities for the Jawoyn people and businesses.

Frederick Earnest, President and CEO of Vista, stated, “Our relationship with the Jawoyn people is very important to Vista and is built on trust, mutual respect and open communication over the last 14 years. This Agreement provides Vista with a simplified project structure and the Jawoyn Association with a royalty in place of the risks and obligations of financing a participating interest.

“The cooperation and support commitments confirm our shared vision of promoting cross-cultural awareness, protecting cultural heritage sites, and providing economic opportunities for aboriginal people as integral components of the development of Mt Todd. The clarity this Agreement provides will be especially meaningful as we advance to discussions with potential development partners.”

Royalty

Under the terms of the original 2006 agreement, the Jawoyn Association was granted, among other consideration for the use of the surface land required to build and operate Mt Todd, a 1.0% GPR and the right to elect to establish a joint venture with Vista holding a 90% participating interest and the Jawoyn Association holding a 10% participating interest in Mt Todd. Instead of the right to elect to hold a 10% participating interest, the Agreement provides the Jawoyn Association with an additional GPR ranging between 0.125% and 2.000%, depending on prevailing gold prices and foreign exchange rates. The additional GPR would be 1.0% at present market conditions.

Social and Cultural

Vista and the Jawoyn Association have agreed to collaboratively promote and advance cross-cultural awareness, develop a regional employment strategy and establish protocols for ongoing protection and management of cultural heritage sites. Additionally, the Company and the Jawoyn Association have established a framework for creating opportunities for training and employment and for the development of aboriginal businesses in a mutually beneficial manner. Vista has long supported, promoted and fostered employment opportunities for aboriginal people at Mt Todd and this framework provides a path for continuing success. Both parties have agreed to work closely together to formalize these initiatives over the next 12 months.

A leaders forum will be established to provide ongoing coordination between the Company and the Jawoyn Association as part of the shared interest in the development of a project that is expected to provide significant economic benefit for the Jawoyn people, while respecting their culture and traditions. These initiatives reiterate the Jawoyn Association’s strong support for the Project and Vista’s unwavering commitment to social and corporate responsibility.

Mr. Earnest concluded, “As we have advanced Mt Todd, we have enjoyed strong support from the Jawoyn Association, Northern Territory Government and local communities as a result of our environmental management of the Mt Todd site and commitment to responsible development of the Project. This Agreement provides both the Jawoyn Association and Vista with a clear view of the future as we move forward together.”

About Mt Todd

Mt Todd is designed to be a large-scale, low-cost gold mine located in the mining friendly jurisdiction of Northern Territory, Australia. Situated approximately 250 km southeast of Darwin, Mt Todd is expected to produce approximately 495,000 ounces of gold per year during the first five years of operation with lowest quartile in-country and global all in sustaining costs. Mt Todd’s extensive 1,100 km2 of exploration licenses offer excellent potential to expand gold resources and reserves and increase the life of the mine. All major environmental permits have been approved.

About Vista Gold Corp.

Vista is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in the Tier 1 mining jurisdiction of Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia and, if developed as presently designed, Mt Todd would potentially be the sixth largest gold producer in Australia on an annual basis.

For further information about Vista or the Mt Todd Gold Project, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185 or visit the Company’s website at www.vistagold.com to access important information, including the current Technical Report.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future, including such things as the future value of the GPR, continuing strong support for Mt Todd by the Jawoyn Association and the Northern Territory Government, the future value of Mt Todd, that Mt Todd is the largest undeveloped gold project in Australia, our ongoing efforts to seek development of Mt Todd to potentially be Australia’s 6th largest gold producer and produce an average of 495,000 ounces of gold during the first five years of operation with lowest quartile in-country and global all in sustaining costs, and that Mt Todd’s 1,100 km2 of exploration licenses offer excellent potential to expand resources and reserves and increase the life of the mine are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: our approved business plans, exploration and assay results, results of our test work for process area improvements, mineral resource and reserve estimates and results of preliminary economic assessments, prefeasibility studies and feasibility studies on our projects, if any, our experience with regulators, and positive changes to current economic conditions and the price of gold. When used in this press release, the words “optimistic,” “potential,” “indicate,” “expect,” “intend,” “hopes,” “believe,” “may,” “will,” “if,” “anticipate,” and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainty of resource and reserve estimates, uncertainty as to the Company’s future operating costs and ability to raise capital; risks relating to cost increases for capital and operating costs; risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on our operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; uncertainty as to the results of bulk metallurgical test work; and uncertainty as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed February 26, 2020 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although we have attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Except as required by law, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.



IMS Launches Telematics App Development Framework

IMS One App counters “driver feedback fatigue” by making telematics more accessible, boosting engagement, and improving program ROI.

Boston, Massachusetts and Waterloo, Ontario, Canada, Nov. 30, 2020 (GLOBE NEWSWIRE) — IMS (Insurance & Mobility Solutions), one of the world’s top three providers of connected car data solutions to insurers, mobility operators and governments, is pleased to announce the immediate launch of One App, a development framework that enables the rapid creation of scalable, configurable telematics apps that promote higher levels of user engagement than those in market today. 

Via One App, IMS offers customers across insurance and mobility full control over the configuration of customer-facing apps, and not just at branding or user interface (UI) design level. Applicable for app-as-a-sensor and feedback-only deployments, One App allows program-level customization for core functionality and feature sets and enables dynamic displays of content and messaging according to individual customer journeys. For example, at the outset users can be guided with personalized onboarding and set-up content, which then gives way to behavioral coaching, rewards and other incentives to promote safer driving. In the event of a collision being detected or claim being reported, the app will automatically promote content that guides the user on how to remain safe at the scene, and capture detail that will support the resolution process. 

This is all made possible through One App’s groundbreaking ‘Dynamic Cards’ system, which enables plug-and-play content of any format, from video to text or graphically rich displays, to be displayed at the relevant time to ensure user engagement.

“Many telematics apps in the market today are quite one-dimensional, simply providing the same type of one-way driver feedback on safety scores, trip durations, and distances travelled, right from day one through to the user’s subscription expiring,” said Ed Rochfort, chief product officer at IMS. “After a while, the risk is that users become disengaged, particularly once their driving data stabilizes. We call this ‘driver feedback fatigue.’ While providing driver feedback is a central capability within One App, we believe successful telematics apps need to do more to keep users fully engaged, become safer drivers, and stay loyal to the program.”

With One App, insurers and mobility providers no longer need to launch separate apps to be able to take advantage of telematics capability – instead, the One App SDK can be embedded within in-market, third-party apps to augment functionality, and with the same level of configurability as apps that are originated via the framework by IMS. In addition to a more streamlined end-user experience, this also reduces the customer’s operational burden of having to manage a plethora of apps. And, for those customers running multiple programs using apps, a common development framework also brings cost and efficiency benefits. 

“With the COVID-19 crisis and its inevitable impact on consumer interactions, maintaining regular touchpoints with customers has grown in importance for all the brands that we work with,” said Rochfort. “One App allows us to tailor feature-rich mobile apps that deliver bespoke digital experiences but without the bespoke price tag or development lead-time. In addition to these cost and operational benefits, we’re bringing ROI closer to our customers by helping them to deliver apps that are truly engaging, that influence behavior, and deliver better outcomes for all.”

For more information on One App, watch it in action at: https://vimeo.com/483678263 or download white papers and further details at: https://ims.tech/oneapp

 

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About IMS (Insurance & Mobility Solutions)

IMS is a leading connected car solutions provider delivering services and analytics to insurers, governments, automotive OEMs and mobility operators. IMS is the developer of the cloud-based DriveSync® connected car platform which has received industry acclaim for its ability to offer customers a data source-agnostic, multi-device strategy for service provision versus a single focused technology approach. IMS is part of Trak Global Group, an international connected solutions provider with technology deployed in over a dozen territories, and its own in-house telematics insurance business, Carrot Insurance. For more information, visit www.ims.tech.

Attachments



Jennifer Overhulse
St. Nick Media Services
859-803-6597
[email protected]