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Eco Wave Power Receives Green Light for the Repurchase of its American Depositary Shares

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STOCKHOLM, Aug. 8, 2024 /PRNewswire/ — Eco Wave Power Global AB (publ) (NASDAQ: WAVE) (“Eco Wave Power” or the “Company”), a leading, publicly traded onshore wave energy company, is pleased to announce that following its official request, submitted to the Swedish Financial Supervisory Authority (the “SFSA”) on the 21st of December, 2023, for authorization for the repurchase of American Depositary Shares (the “ADS”) representing up to 10 percent of the total number of shares in the Company, the SFSA responded that in its opinion, the ADS are not considered equivalent to shares in accordance with Chapter 19 of the Swedish Companies Act. As a result, the Company should be able to repurchase ADSs, in accordance with Swedish law.

In accordance with this decision, Eco Wave Power will enter into relevant agreements with a bank for the execution of any necessary steps related to the buyback.

As previously announced, the repurchase of the ADS was previously approved by Eco Wave Power’s shareholders at the 2024 Annual General Meeting (the “AGM”).

Shareholders at the AGM resolved the authorization for the Company’s board of directors to make purchases of the ADS in accordance with the following main terms:           

  1. ADS repurchases may be made only on the Nasdaq Capital Market or any other regulated market.         
  2. The authorization may be exercised on one or more occasions before the 2025 annual general meeting.         
  3. The maximum number of ADS that may be repurchased so that the Company’s holding of shares at any given time does not exceed 10 percent of the total number of shares in the Company.          
  4. Repurchases of the ADS on the Nasdaq Capital Market may only be made at a price within the range of the highest purchase price and lowest selling price at any given time.        
  5. Payment for the ADS shall be made in cash.

“We are very excited to finally be able to proceed with the buyback. We believe that our ADS buyback program will allow our leadership to have a greater scope to act and have the opportunity to improve the Company’s capital structure, driving greater shareholder value and improving the investment value of our company,” said Eco Wave Power’s Founder and Chief Executive Officer Inna Braverman.

The authorization from the SFSA and shareholder approval from the AGM does not obligate the Company to repurchase any ADSs. Any repurchases will be made through open market purchases, privately-negotiated transactions, or otherwise in compliance with Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended. The timing, manner, and amount of any repurchase will be determined by the Company’s management based on its evaluation of business, market, and economic conditions, corporate and regulatory requirements, and other considerations.

About Eco Wave Power Global AB (publ)

Eco Wave Power is a leading onshore wave energy company that developed a patented, smart and cost-efficient technology for turning ocean and sea waves into green electricity.

Eco Wave Power’s mission is to assist in the fight against climate change by enabling commercial power production from the ocean and sea waves.

The Company owns and operates a grid connected wave energy project in Israel, with co-investment from EDF Renewables IL and the Israeli Energy Ministry, which recognized Eco Wave Power’s technology as “Pioneering Technology.”  The Israeli wave energy project marks the first grid-connected wave energy system in Israel’s history.

Eco Wave Power will soon commence the installation of its third and fourth wave energy projects, in the Port of Los Angeles, and in Portugal. The Company also holds a total projects pipeline of 404.7MW.

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Eco Wave Power received funding from the European Union Regional Development Fund, Innovate UK and the European Commission’s Horizon 2020 framework program and was honored with the “Global Climate Action Award” from the United Nations.

Eco Wave Power’s American Depositary Shares (WAVE) are traded on the Nasdaq Capital Market.

Read more about Eco Wave Power at www.ecowavepower.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, the Company is using forward-looking statements in this press release when it discussesits belief that share repurchase program will allow its leadership to have a greater scope to act and the opportunity to improve the Company’s capital structure, driving greater shareholder value and improving the investment value of the Company, its potential future agreements it may enter into with a bank concerning the buyback and the potential repurchase of the Company’s ADSs. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will”, or variations of such words, and similar references to future periods. These forward-looking statements and their implications are neither historical facts nor assurances of future performance and are based on the current expectations of the management of Eco Wave Power and are subject to a number of factors, uncertainties and changes in circumstances that are difficult to predict and may be outside of Eco Wave Power’s control that could cause actual results to differ materially from those described in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Except as otherwise required by law, Eco Wave Power undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting Eco Wave Power is contained under the heading “Risk Factors” in Eco Wave Power’s Annual Report on Form 20-F for the fiscal year ended December 31, 2023 filed with the SEC on March 28, 2024, which is available on the on the SEC’s website, www.sec.gov, and other documents filed or furnished to the SEC. Any forward-looking statement made in this press release speaks only as of the date hereof. References and links to websites have been provided as a convenience and the information contained on such websites is not incorporated by reference into this press release.

For more information, please contact the Company at:
[email protected]
+97235094017

This information was brought to you by Cision http://news.cision.com.

https://news.cision.com/ewpg-holding-ab–publ-/r/eco-wave-power-receives-green-light-for-the-repurchase-of-its-american-depositary-shares,c4022435

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ISX Financial® Launches New Globally Accepted flykk® Debit Card in Working with Diners Club International®

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NICOSIA, Cyprus, Jan. 14, 2025 /PRNewswire/ — flykk®, the pan-European and UK digital payment app, announces the launch of its new flykk® Diners Club International® debit card in several priority markets. This offering combines the best of both worlds: the convenience and security of a globally accepted debit card with all the robust benefits Diners Club International® offers.

With the new flykk® Diners Club International® Card, users can enjoy a range of exclusive Diners Club benefits, including access to more than 1,500 airport lounges and experiences around the world, travel insurance, and purchase protection. Additionally, the flykk® Diners Club International® Card also offers a range of other features and benefits that can delight users, including access to millions of amenities and premium Wi-Fi hotspots.

Key features of the flykk® app, which flykk® Diners Club cardholders can access, include bank transfers, free flykk-to-flykk transfers, dedicated money remittance channels and global money transfers. Users can easily transfer money between their flykk® account and European Union (EU) bank accounts, as well as between other flykk® users.

“Launching this partnership with Diners Club International® is a significant milestone for ISX Financial,” said Nikogiannis Karantzis, CEO of ISX Financial. “By combining the innovative flykk® payment app with the benefits of the Diners Club International® Card, we strive to offer users an unparalleled payment experience both online and in-store. With the flykk® Diners Club International® Card, users can enjoy all the convenience and security of a debit card, together with a range of other features and benefits that support their lifestyle.”

Diners Club is accepted at millions of merchant locations and over 1.2 million ATM and cash access locations around the world. Diners Club is part of the Discover® Global Network, the fastest growing global payments network[1]. Comprised of Diners Club International®, Discover Network, PULSE®, and more than 25 alliance partner networks across the globe, Discover Network has 345 million Discover Global Network Cardholders worldwide[2] and facilitated $589B+ in global transactions in 2023.

The flykk® debit card is now available to users in selected markets in the EU, with plans to expand to additional markets in the coming months. To learn more about flykk® and its innovative payment solutions, visit the flykk® website at www.flykk.it

“By combining our world-class benefits, services, and capabilities with flykk’s comprehensive payment technology, we’re able to offer users a more seamless payment experience,” said Matt Sloan, Vice President of International Markets, EMEA at Discover® Global Network. “We look forward to continuing to work closely with the team at ISX Financial to bring even more innovative payment solutions to users around the world.”

About ISX Financial:

ISX Financial EU PLC is a ‘banktech’ company that leverages its own technology to provide financial services to merchants across the EEA & UK.  The company’s combined payments stack and infrastructure provides a complete end-to-end transactional banking, FX, remittance and payment processing capability. 

ISXMoney’s multi-Currency IBAN accounts coupled with PaidBy® instant open banking provides merchants with a tailored payment solution to reach any UK or EEA bank account holders.

ISX Financial’s consumer product flykk®, is a digital wallet that combines all its financial technology and infrastructure to create a retail product. flykk® is a two-sided network developed on ISX’ Financial’s own platform that links both merchants and consumers around the globe to facilitate the processing of payment transactions. flykk® allows customers to use their account for both purchase and paying for goods, as well as to transfer and withdraw funds, with the benefits of a Diners card for point-of-sale transactions.

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ISX Financial’s subsidiary Probanx® also develops payment infrastructure for third parties, and provides connectivity to central banks, banks around the world and major card schemes.

[1] Based on signed network alliance agreements over the past fourteen years with major payment networks within respective countries – Panoramic Research study, conducted 2022
[2] Based on data provided to Discover by Network Alliances participants and other third party sources as of December 31, 2023.

Media enquiries: +35722015740, [email protected] 

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Investindustrial expands its presence to Abu Dhabi, set to become the firm’s Middle East and Asia hub

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ABU DHABI, UAE, Jan. 14, 2025 /PRNewswire/ — Investindustrial is pleased to announce the formal inauguration of its Abu Dhabi office. Attended by authorities and senior officials, this milestone marks a pivotal moment in the firm’s journey to expand its global footprint. The Abu Dhabi strategy follows the successful blueprint of Investindustrial’s office in Shanghai, which has been an accretive business development and value creation office for the firm since 2009. The Abu Dhabi office opened with a team of eight professionals, becoming the Middle East and Asia hub for the group’s activities.

As a leading European investment group with over €15 billion in raised fund capital, Investindustrial is proud to announce that it has received the Financial Services Permission (“FSP”) from the Financial Services Regulatory Authority (“FSRA”) of ADGM. The newly granted licence will enable Investindustrial to provide financial services, including advisory, fundraising, marketing, and arranging, within or from the ADGM.

Andrea C. Bonomi, Chairman of Investindustrial, stated, “At the heart of Investindustrial’s approach is the goal of pursuing a sustainable, industrially-driven strategy to build better global companies for the long-term. Establishing our office in Abu Dhabi underscores our commitment to fostering partnerships in the Middle East and supporting the region’s transformative growth while unlocking these regions for our portfolio companies with significant opportunity to grow. These companies often have the potential to scale, but they require strategic guidance, operational expertise, and a global perspective to reach their full potential.” 

Arvind Ramamurthy, Chief Market Development Officer, ADGM, commented, “We congratulate Investindustrial’s on receiving its FSP. The establishment of its Middle East and Asia hub in ADGM reflects the strength of our business environment and our ability to support global investment groups in achieving their growth ambitions. This milestone reinforces ADGM’s position as a leading financial hub and its commitment to unlocking opportunities across the region.”

The Middle East and Asia expansion is led by Emanuela Cisini (Partner, Co-Head of Operational Improvement), who relocated from London to Abu Dhabi. Emanuela has been with the firm for close to a decade, having led various teams across several Investindustrial offices. Under her leadership, the firm aims to grow its human capital in the Middle East, focusing on building on-the-ground operational capabilities that will contribute to the value creation across Investindustrial’s portfolio companies by increasing footprint, enhancing manufacturing capabilities, and bringing high-growth companies to the Middle East.

Emanuela Cisini, Head of Middle East and Asia, commented: “We are excited about this new chapter. Leveraging on Investindustrial’s global operational improvement expertise we take a hands-on approach in guiding our companies through the international expansion in the Gulf region building global leaders.”

The opening of the Abu Dhabi office underscores a commitment to the region’s economic objectives and sustainable growth. Investindustrial has a strong track record across sectors, with deep expertise in industrial manufacturing and sub-sectors such as food security, a critical area for the GCC. By supporting innovation and investment in sectors like specialty ingredients, frozen desserts, and private-label products, Investindustrial’s efforts are aligned with regional priorities of helping foster growth.

Additionally, Investindustrial’s portfolio companies in the consumer space – such as Zegna Group, Eataly, Flos, and B&B Italia – are already active in the region, and the new office in Abu Dhabi, will allow these companies to tap into greater regional opportunities and enhance their operational capabilities.

In addition to operational improvement capabilities, senior investment professionals have also relocated to Abu Dhabi to actively engage with local entrepreneurs and drive investments and growth for portfolio companies in the region. The team will work in close collaboration with the firm’s global offices, reinforcing Investindustrial’s commitment to becoming a truly global player in the mid-market investment space.

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Vantage Markets Wins “Best Range of Markets” Award from Compare Forex Brokers 2025

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PORT VILA, Vanuatu, Jan. 14, 2025 /PRNewswire/ — Vantage Markets has been honored with Best Range of Marketsaward for 2025 by Compare Forex Brokers, a leading authority in evaluating trading platforms. This accolade reflects Vantage’s commitment to offering an unparalleled range of tradable instruments, leverage options and suitability for diverse trading strategies while maintaining transparency, trust, and innovation.

Justin Grossbard, CEO and Head of Research at Compare Forex Brokers, commended Vantage for setting industry benchmarks, “Your commitment to providing a seamless trading experience, supported by innovative technology and a customer-focused approach, is truly commendable. Trust is at the heart of our industry, and Vantage Markets has continually set the benchmark for integrity and professionalism.”

The recognition celebrates Vantage’s dedication to offering a wide array of CFD markets, empowering traders with flexibility and choice.  This includes forex, commodities, indices, shares, ETFs, and bonds CFDs, ensuring clients have access to diverse trading opportunities supported by cutting-edge tools and a robust platform.

Marc Despallieres, Chief Strategy & Trading Officer at Vantage, expressed gratitude for the award, “Winning the ‘Best Range of Markets’ award from Compare Forex Brokers is a proud moment for us. It underscores our dedication to delivering exceptional trading experiences through innovation and trust. This achievement reflects the hard work of our team and the trust our clients place in us. We remain committed to pushing boundaries and providing our global community with unparalleled opportunities.”

As Vantage continues to evolve, the company is focused on maintaining its position as a leader in the trading industry by expanding its offerings, advancing technology, and fostering transparency.

For more information about Vantage Markets and its award-winning services, visit Vantage Markets.

About Vantage

Vantage Markets (or Vantage) is a multi-asset CFD broker offering clients access to a nimble and powerful service for trading Contracts for Difference (CFDs) products, including Forex, Commodities, Indices, Shares, ETFs, and Bonds.

With over 15 years of market experience, Vantage transcends the role of broker, providing a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that empowers clients to seize trading opportunities. Download the Vantage App on App Store or Google Play.

trade smarter @vantage

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RISK WARNING: CFD trading carries significant risks. You could lose more than your initial investment.

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