Fintech PR

Shareholders request EGM to appoint new Board of Directors of B2 Impact ASA

Published

5 months ago

November 28, 2023

OSLO, Norway, Nov. 28, 2023 /PRNewswire/ — Shareholders representing approximately 24% of the shares and votes of B2 Impact ASA request an Extraordinary Shareholders Meeting to elect new Board of Directors.

A group of shareholders in B2 Impact ASA (the “Company”) including the founding partner Jon Harald Nordbrekken and associated companies; Valset Invest AS and F2Kapital AS together with Gulen Invest AS (the “Shareholders”) have today, in accordance with section 5-7 (2) of the Norwegian Public Limited Liability Companies Act, jointly requested that the board of directors of the Company convenes an Extraordinary General Meeting in the Company to resolve on the election of new members of the Board until the next annual general meeting in 2024. Prioritet Group AB, the largest shareholder in the Company also supports the request for appointment of a new board. Jointly, the request is put forward by shareholders representing approximately 24% of the Company’s shares.

Following the election, the new board is proposed to be composed of four new Directors, including Anders Engdahl as Chairman, Jon Harald Nordbrekken as Vice Chairman, Ellen Hanetho as Director, Nils Wiberg as Director and re-election of Jessica Sparrfeldt.

“I am very pleased that we are able to propose such an experienced board with over hundred years of combined industry experience. The debt collection industry is facing a number of critical challenges posed by rising interest rates, inflation as well as rapid technological change. At the same time, it also presents a number of attractive opportunities as many competitors struggle to adapt to this new environment. For B2 Impact ASA to capitalize on these opportunities we believe it is the right time to appoint new leadership and for the owners to take a more active role in the transformation of the business. To support this change, I will assume an active role on the Board of Directors to help realize the full potential of the business,” says Jon Harald Nordbrekken, founding partner and shareholder of B2 Impact ASA.

The Shareholders are of the view that the Company needs to reconsider its strategy and focus on the following core areas:

Reduce Cost and Complexity: Structurally reduce group common and local overhead costs through simplified decentralized governance and removing all non-value added activities.
Enhance Focus: Reduce geographic footprint, build volume and leverage in-market scale. Going forward, the company should focus on collection of unsecured consumer receivables.
Reduce Indebtedness: Adopt capital light strategy including a partnership with an international investment fund to invest in portfolios outside the Company’s balance sheet, release capital, reduce indebtedness and interest expenses and drive servicing fees.
Invest in Technology: Accelerate digital adoption by investing into modern collection system technology that could substantially lower cost-to-collect through automated workflows and smarter processes.
Deliver Profitable Growth: Create profitable organic servicing revenue growth through co-operation with portfolio investors and banks in selected markets as well as acquisitions of businesses that allow the Company to leverage economies of scale.

“I am honoured and excited to be proposed as new Chairman of B2 Impact ASA. I expect to work closely with the new Board of Directors and management to lead the re-orientation of the Company. I believe that if adopting a capital light strategy, the Company is well positioned to take advantage of the emerging opportunities and supportive NPL cycle that can deliver substantial value to shareholders over next few years,” says Anders Engdahl, proposed Chairman of the Board.

In addition, it has been proposed that the following members shall be elected to the Nomination Committee until the annual general meeting in 2024: Frode Foss-Skiftesvik as Chairman, Kjetil Andreas Garstad as Member and Niklas Wiberg as Member.

Background on the proposed board members:

Anders Engdahl, Chairman

Anders Engdahl is a seasoned NPL investment and servicing executive with over 25 years financial services experience. Until Aug 2022, Anders was the CEO of Intrum AB, Europe’s largest debt collector where he spent in total eight years in several roles including CEO, CFO and CIO. Prior to joining Intrum, Anders was Managing Director at Morgan Stanley’s Financial Institutions Group. Anders started his career with Goldman Sachs in London in 1997. He graduated with an M.Sc. In Economics and Managerial Finance from the Stockholm School of Economics.

Jon Harald Nordbrekken, Deputy chairman and board member

Jon Harald Nordbrekken is a founder and the third largest shareholder in B2 Impact ASA. After four years as CEO of Intrum Justitia Norway, Nordbrekken founded Aktiv Kapital in 1991, where he stayed on as CEO until 1999 and as Chair from 1999 to 2004. In 2005, he founded B2Holding AS, now B2 Impact ASA, parent to both Gothia Financial Group and Bank2. Gothia was sold to Herkules in 2008 and Nordbrekken stepped down as Chair of the Board of Bank2 in 2010, before establishing the “new” B2Holding the following year. Nordbrekken was the Chair of the Board of B2 Impact ASA until 2020.

Ellen Hanetho, Board member

Ellen Merete Hanetho has 20 years of experience from investment banking and private equity as a finance and business development executive in corporations such as Frigaard Invest, Credo Partners, Goldman Sachs Investment Banking Division in London and the Brussels Stock Exchange and Citibank in Brussels. She is founder and chairperson of Cercis, a cleantech investment company established in 2020. Ellen holds a BSBA from Boston University, US and an MBA from Solvay University, Belgium in addition to executive training from INSEAD, France and Harvard Business School, US.

Nils Wiberg, Board member

Nils Wiberg is the founder and CEO of Prioritet Group AB. Nils has a very long and solid career within the financial services industry. Nils joined Nordbanken 1986 (currently Nordea) and became CEO of Nordbanken Inkasso focused on debt collection and debt restructuring within the private and corporate sector. Nils was with Nordbanken until 1997. In 1981 Nils founded Prioritet Group which focuses on financial services and asset management. Prioritet Group is the largest shareholder of B2 Impact ASA and wholly owned by Nils Wiberg.

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Fintech PR

Invitation to presentation of EQT AB’s Q1 Announcement 2024

Published

4 weeks ago

April 5, 2024

CISION (PR Newswire)

STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]

Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

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

https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826

The following files are available for download:

https://mb.cision.com/Main/87/3956826/2712771.pdf	Invitation to presentation of EQT AB’s Q1 Announcement 2024
https://news.cision.com/eqt/i/eqt-ab-group,c3285895	EQT AB Group

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Fintech PR

Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs

Published

4 weeks ago

April 5, 2024

CISION (PR Newswire)

kia-presents-roadmap-to-lead-global-electrification-era-through-evs,-hevs-and-pbvs

Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.

Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.

During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.

The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.

“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”

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Fintech PR

BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update

Published

4 weeks ago

April 5, 2024

CISION (PR Newswire)

VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.

As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.

The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BioVaxys Technology Corp.

BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.

ON BEHALF OF THE BOARD

Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054

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