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Hatch Africa Raises $9.5m from AgDevCo and IDH Farmfit Fund to Expand High-growth Poultry Business in Sub-Saharan Africa

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LONDON, Jan. 29, 2024 /PRNewswire/ — Hatch Africa, a rapidly growing, high-impact poultry business targeting underserved rural households, has secured a combined USD 9.5 million investment with participation from AgDevCo and IDH Farmfit Fund.

The investment into Flow Equity Africa Ventures (FEAV), the holding company for Hatch’s operations in Kenya, Ghana, and Cote d’Ivoire, will scale Hatch’s innovative business model to millions more smallholder farmer households.

Hatch Africa’s purpose is to make farmers healthier and wealthier. The company distributes dual-purpose breeds of day-old-chicks through a large network of agents, who rear the birds to maturity at around five weeks before selling them to smallholders. Hatch chickens are well-suited to being raised in “backyard” conditions and its customers typically own between 5 and 20 birds each. Compared to indigenous breeds, Hatch chickens grow faster, lay more eggs and are more resistant to disease.

Founded in 2010, the company now reaches 4.6 million rural households in Ethiopia, Uganda, and Rwanda, where it operates under the brands EthioChicken and Uzima Chicken. In Ghana and Cote D’Ivoire, Hatch will operate under the brand Premier Poultry and Prestige Poultry respectively. Kenya will adopt the Uzima Chicken brand, which means “full of life” in Swahili.

Co-founder Joseph Shields said, “We couldn’t achieve the scale of impact and commercial progress Hatch Africa is making without the support of committed, long-term investors like AgDevCo and IDH, who understand our markets and can provide flexible financing that suits our needs. We are excited about our next phase of growth, building Hatch Africa into a truly pan-African business.”

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AgDevCo’s Managing Director for East Africa, Rebecca Sankar, said, “We are pleased to continue funding Hatch as it grows beyond Ethiopia. This is our third round of investment into the company, in each case supporting greenfield expansion. We look forward to working with the management team to deliver more impact, including higher incomes and improved nutrition for rural households, across East and West Africa.” 

“I am proud that the IDH FarmFit Fund provided debt funding to Hatch Africa, for expansion in Kenya, Ghana, and Côte d’Ivoire. Through its distinctive distribution structure, Hatch Africa ensures access for the rural population to high-quality dual-purpose chickens, where currently only low-yielding, local breeds are accessible. The transformational nature of this business makes this a very exciting investment for the Fund.”, said Mr. Roel Messie, CEO, IDH Investment Management, the manager of the IDH Farmfit Fund.

Hatch Africa plans to grow its impact six-fold by 2030, increasing the number of chickens sold annually from 45 million to 340 million. The company’s vision is to reach every farmer and achieve one chicken per person per year in each country where it operates.

NOTES FOR EDITORS:

The transaction was supported by Charles Russell Speechlys in London, Bowmans in Mauritius and Kenya, Sesi Legal in Ghana, and Kwaliance in Cote d’Ivoire.

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The IDH transaction was supported by FINWAY in the Netherlands and Venture Law Ltd in Mauritius. 

AgDevCo is a specialist investor in African agriculture, growing sustainable and impactful agribusiness, with USD 280m under management. Backed by leading development finance institutions including BII, Norfund, US International Development Finance Corporation (DFC) and the UK Foreign, Commonwealth and Development Office, AgDevCo’s vision is a thriving commercial agriculture sector, which benefits both people and planet by investing in and supporting agribusinesses to grow, create jobs, produce and process food and link farmers to markets. They support their partners to work towards climate sustainability, and where possible, regenerative solutions. www.agdevco.com

IDH Farmfit Fund is a Euro 100m public-private impact fund for smallholder farmers, many of whom are amongst the poorest people in the world. IDH Farmfit Fund takes on the highest-risk positions in farmer related investment transactions, to reduce liabilities for borrowers and lenders. In turn, smallholder farmers can access long-term financing that allows them to invest in their farms, increase productivity, and adopt best practices for climate-smart agriculture. The IDH Farmfit Fund managed by IDH Investment Management and is facilitated by IDH and supported by a unique coalition of partners including commercial banks, development banks, government bodies and value chain companies. www.idhsustainabletrade.com.

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Invitation to presentation of EQT AB’s Q1 Announcement 2024

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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

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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

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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

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View original content:https://www.prnewswire.co.uk/news-releases/invitation-to-presentation-of-eqt-abs-q1-announcement-2024-302109147.html

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

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  • 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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PDF – https://mma.prnewswire.com/media/2380040/Press_Release__2024_Kia_CEO_Investor_Day_240405.pdf

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BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update

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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.

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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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Cision View original content:https://www.prnewswire.co.uk/news-releases/biovaxys-technology-corp-provides-bi-weekly-mcto-status-update-302108920.html

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