EVIDENT Corporation Appoints New CEO and COO

EVIDENT Corporation Appoints New CEO and COO

Pictured (left to right): Evident’s new CEO Wes Pringle and President & COO Hiroyuki Yoshimoto

TOKYO, Aug. 15, 2023 (GLOBE NEWSWIRE) — Evident Corporation (“Evident”) announced the appointment of William Wesley “Wes” Pringle as Chief Executive Officer (CEO) and Hiroyuki Yoshimoto as President and Chief Operating Officer (COO). Effective immediately, Wes takes over for Evident’s interim CEO Eric Anderson.

Wes has an impressive 30-year career driving growth and business transformation across a variety of industries, including consumer, industrial, healthcare and software-enabled businesses. Prior to joining Evident, Wes ran several companies for Danaher including Fluke Corporation (a global test and measurement leader), which he led for almost 10 years.  As President of Fluke, Wes oversaw a period of significant growth and market expansion.  More recently, he served as Head of Portfolio Operations at the private equity firm Onex Corporation, where he helped over a dozen portfolio companies accelerate performance. “I am honored to join Evident and help lead this 100-year-old business through a new phase of growth. By unleashing the passion and talents of this organization, I believe we can deliver exceptional growth and market changing innovations for our customers.”

Hiroyuki is an experienced leader with a proven track record of leading global companies headquartered in Japan and the USA.  Prior to joining Evident, Hiroyuki had several senior leadership roles at global manufacturing companies such as Nissan Motor Corporation Group and Nidec Corporation. He led significant business growth by expanding market share and providing  hands-on leadership for operational excellence. Most recently, he served as Senior Vice President and Japan Representative at American Express, where he led the business on a remarkable growth journey.  “By working as one team, I am convinced that Evident can create sustainable growth while continuing its mission of pioneering innovations that make society healthier and safer. Our commitment to ensuring customer satisfaction, along with fostering strong relationships with business partners and stakeholders will be the cornerstone of our progress.”

With this new leadership team, Evident will realize its next chapter by further strengthening its commitment to delivering world-class solutions to our customers.

About EVIDENT

At Evident, we are guided by the scientific spirit—innovation and exploration are at the heart of what we do. Committed to making people’s lives healthier, safer, and more fulfilling, we support our customers with solutions that solve their challenges and advance their work—whether it’s researching medical breakthroughs, inspecting infrastructure, or exposing hidden toxins in consumer products.

Evident Industrial’s solutions range from microscopes and videoscopes to nondestructive testing equipment and X-ray analyzers for maintenance, manufacturing, and environmental applications. Backed by state-of-the-art technologies, Evident’s products are widely used for quality control, inspection, and measurement.

Evident Life Science empowers scientists and researchers through collaboration and cutting-edge life science solutions. Dedicated to meeting the challenges and supporting the evolving needs of its customers, Evident Life Science advances a comprehensive range of microscopes for pathology, hematology, IVF, and other clinical applications as well as for research and education.

For more information, visit www.EvidentScientific.com

About Bain Capital Private Equity

Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of more than 280 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 23 offices on four continents. The firm has made primary or add-on investments in more than 1,100 companies since its inception. In addition to private equity, Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $160 billion in total assets and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.

For more information, please visit www.baincapitalprivateequity.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b3ffc55e-10fa-49f4-b5e4-f236ba7cf5bd

Media Contact:
Tobias Ruckes
Evident Global Corporate Communications
Tobias.Ruckes@EvidentScientific.com

GlobeNewswire Distribution ID 8894664

Stevie® Awards ประกาศผู้ได้รับรางวัล Annual International Business Awards® ครั้งที่ 20 จากทั่วโลก

มีการเสนอชื่อเข้าชิงถึง 3,700 รายชื่อจากองค์กรต่าง ๆ ใน 61 ประเทศ

FAIRFAX, Va., Aug. 15, 2023 (GLOBE NEWSWIRE) — องค์กรและผู้บริหารที่ประสบความสำเร็จจากทั่วโลกได้รับการยอมรับในฐานะผู้ได้รับรางวัล Stevie® Awards ระดับ Gold, Silver และ Bronze ใน The 20th Annual International Business Awards® โปรแกรมรางวัลธุรกิจที่ครอบคลุมระดับนานาชาติหนึ่งเดียวของโลก

ผู้ชนะจะถูกเลือกมาจากการเสนอชื่อมากกว่า 3,700 รายชื่อที่ส่งมาจากองค์กรต่าง ๆ จาก 61 ประเทศ

สามารถดูรายชื่อผู้ได้รับรางวัล Gold, Silver และ Bronze จาก Stevie Award 2023 ทั้งหมดแยกตามหมวดหมู่ได้ที่ www.StevieAwards.com/IBA

ผู้บริหารมากกว่า 230 คนจากทั่วโลกได้มีส่วนร่วมเป็น 11 คณะผู้ตัดสิน เพื่อตัดสินผู้ที่จะได้รับรางวัล Stevie

ผู้ได้รับรางวัล Stevies ระดับ Gold, Silver และ Bronze โดยรวมมากที่สุดได้แก่ IBM จาก อาร์มองก์, นิวยอร์ก, สหรัฐอเมริกา ซึ่งได้ถึง 21 รางวัล ผู้ได้รับรางวัล Stevie หลายรางวัลรายอื่น ๆ ได้แก่ HALKBANK, อิสตันบูล, ตุรกี (20), Viettel Group, ฮานอย, เวียดนาม (17), Telkom Indonesia, จาการ์ต้า, อินโดนีเซีย (17), Ayala Land, Inc., เมืองมาคาติ, ฟิลิปปินส์ (16), DHL Express, ทั่วโลก (14), A.S. Watson Group, ฮ่องกง (12), Tata Consultancy Services, ทั่วโลก (11), LLYC, มาดริด, สเปน (10), OPET, อิสตันบูล, ตุรกี (10), HeyMo® The Experience Design Company, อิสตันบูล, ตุรกี (9), Uniomedia Communications, บูดาเปสต์, ฮังการี (9), AD Ports Group, อาบูดาบี, สหรัฐอาหรับเอมิเรตส์ (8), FPT Software, ฮานอย, เวียดนาม (8), Akbank T.A.Ş, อิสตันบูล, ตุรกี (7), Cisco Systems, ซานโฮเซ แคลิฟอร์เนีย, สหรัฐอเมริกา (7), Maersk, มอนทรีออล, แคนาดา (7), Everise, Plantation, ฟลอริดา, สหรัฐอเมริกา (6), Ernst & Young, ทั่วโลก (6), Globe Telecom Inc., เมืองตากิก, ฟิลิปปินส์ (6), Green Door Co, ซิดนีย์, ออสเตรเลีย (6), nupco, ริยาด, ซาอุดีอาระเบีย (6), Philip Morris International, โลซานน์, สวิตเซอร์แลนด์ (6), TriNet, Dublin, แคลิฟอร์เนีย, สหรัฐอเมริกา (6), WNS, มุมไบ, อินเดีย (6), ZER, อิสตันบูล, ตุรกี (6), Canadian Tire Corporation, โตรอนโต, แคนาดา (5), Enerjisa Üretim, อิสตันบูล, ตุรกี (5), Lounge Group, บูดาเปสต์, ฮังการี (5), PJ Lhuillier, Inc. | เมืองมาคาติ, ฟิลิปปินส์ (5), Purpol Marketing, ชิปเพนแฮม, วิลต์เชียร์, สหราชอาณาจักร (5), Megaworld Foundation, Inc., เมืองตากิก, ฟิลิปปินส์ (5), Zimat Consultores, เม็กซิโกซิตี้, เม็กซิโก (5)

Halkbank ซึ่งเป็นผู้บุกเบิกการพัฒนาภาคการธนาคารของตุรกีมาเป็นเวลา 83 ปี ได้รับรางวัล Gold Stevie Awards แปดรางวัล ซึ่งมากกว่าองค์กรอื่น ๆ

ทุกองค์กรทั่วโลกมีสิทธิ์เข้าร่วมแข่งขัน IBA และสามารถส่งผู้เข้าแข่งขันในหมวดหมู่ต่าง ๆ ในด้านความสำเร็จด้านการจัดการ การตลาด ประชาสัมพันธ์ การบริการลูกค้า ทรัพยากรมนุษย์ ผลิตภัณฑ์และบริการใหม่ เทคโนโลยี เว็บไซต์ แอป กิจกรรม และอื่น ๆ

รางวัลจะถูกนำเสนอในงานกาล่าที่กรุงโรม, ประเทศอิตาลี ในวันที่ 13 ตุลาคม 2023

เกี่ยวกับ Stevie® Awards
Stevie Awards ถูกจัดขึ้นทั้งหมดแปดโปรแกรม โดยมีรางวัล Asia-Pacific Stevie Awards, รางวัล German Stevie Awards, รางวัล Stevie Awards ในตะวันออกกลางและแอฟริกาเหนือ, รางวัล American Business Awards®, รางวัล International Business Awards®, รางวัล Stevie Awards สำหรับพนักงานดีเด่น, รางวัล Stevie Awards สำหรับสตรีในวงการธุรกิจ และรางวัล Stevie Awards สำหรับฝ่ายขายและบริการลูกค้า การแข่งขัน Stevie Awards ได้รับการเสนอชื่อเข้ามามากกว่า 12,000 รายการในแต่ละปีจากองค์กรทั่วโลกกว่า 70 ประเทศ นับเป็นเกียรติแก่องค์กรทุกประเภทและขนาดรวมถึงบุคคลที่อยู่เบื้องหลักองค์กรเหล่านั้นด้วย ซึ่งรางวัล Stevie เป็นเสมือนเครื่องหมายแห่งผลงานอันโดดเด่นในที่ทำงานจากทั่วโลก เรียนรู้เพิ่มเติมเกี่ยวกับ Stevie Awards ได้ที่ http://www.StevieAwards.com

ข้อมูลติดต่อฝ่ายการตลาด
Nina Moore
Nina@StevieAwards.com
+1 (703) 547-8389

ดูรูปภาพประกอบประกาศนี้ได้ที่ https://www.globenewswire.com/NewsRoom/AttachmentNg/d3c48626-c892-4855-a6bc-db17ff9a72f5

GlobeNewswire Distribution ID 8894660

Stevie® Awards Announce Winners in 20th Annual International Business Awards® from Across the Globe

3,700 Nominations Were Submitted from Organizations in 61 Nations

3,700 Nominations Were Submitted from Organizations in 61 Nations

High-achieving organizations and executives around the world have been recognized as Gold, Silver, and Bronze Stevie® Award winners in The 20th Annual International Business Awards®. The top winner of Gold, Silver, and Bronze Stevie Awards is IBM of Armonk, NY USA with 21. Other winners of multiple Stevie Awards include HALKBANK, Istanbul, Turkey (20), Viettel Group, Hanoi, Vietnam (17), Telkom Indonesia, Jakarta, Indonesia (17), and others.

FAIRFAX, Va., Aug. 14, 2023 (GLOBE NEWSWIRE) — High-achieving organizations and executives around the world have been recognized as Gold, Silver, and Bronze Stevie® Award winners in The 20th Annual International Business Awards®, the world’s only international, all-encompassing business awards program.

Winners were selected from more than 3,700 nominations submitted by organizations in 61 nations.

A complete list of all 2023 Gold, Silver and Bronze Stevie Award winners by category is available at www.StevieAwards.com/IBA.

More than 230 executives worldwide participated on 11 juries to determine the Stevie winners.

The top winner of Gold, Silver, and Bronze Stevie Awards is IBM of Armonk, NY USA with 21. Other winners of multiple Stevie Awards include HALKBANK, Istanbul, Turkey (20), Viettel Group, Hanoi, Vietnam (17), Telkom Indonesia, Jakarta, Indonesia (17), Ayala Land, Inc., Makati City, Philippines (16), DHL Express, worldwide (14), A.S. Watson Group, Hong Kong (12), Tata Consultancy Services, worldwide (11), LLYC, Madrid, Spain (10), OPET, Istanbul, Turkey (10), HeyMo® The Experience Design Company, Istanbul, Turkey (9), Uniomedia Communications, Budapest, Hungary (9), AD Ports Group, Abu Dhabi, United Arab Emirates (8), FPT Software, Hanoi, Vietnam (8), Akbank T.A.Ş, Istanbul, Turkey (7), Cisco Systems, San Jose, CA USA (7), Maersk, Montreal, Canada (7), Everise, Plantation, FL USA (6), Ernst & Young, worldwide (6), Globe Telecom Inc., Taguig City, Philippines (6), Green Door Co, Sydney, Australia (6), nupco, Riyadh, Saudi Arabia (6), Philip Morris International, Lausanne, Switzerland (6), TriNet, Dublin, CA USA (6), WNS, Mumbai, India (6), ZER, Istanbul, Turkey (6), Canadian Tire Corporation, Toronto, Canada (5), Enerjisa Üretim, Istanbul, Turkey (5), Lounge Group, Budapest, Hungary (5), PJ Lhuillier, Inc. | Makati City, Philippines (5), Purpol Marketing, Chippenham, Wiltshire, United Kingdom (5), Megaworld Foundation, Inc., Taguig City, Philippines (5), Zimat Consultores, Mexico City, Mexico (5).

Halkbank, pioneering the development of the Turkish banking sector for 83 years, has won eight Gold Stevie Awards, more than any other organization.

All organizations worldwide are eligible to compete in the IBAs, and may submit nominations in a wide range of categories for achievement in management, marketing, public relations, customer service, human resources, new products and services, technology, web sites, apps, events, and more.

The awards will be presented during a gala event in Rome, Italy on October 13, 2023.

About the Stevie® Awards
Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Great Employers, the Stevie Awards for Women in Business, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.

Marketing Contact
Nina Moore
Nina@StevieAwards.com
+1 (703) 547-8389

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d3c48626-c892-4855-a6bc-db17ff9a72f5

GlobeNewswire Distribution ID 8893579

Gordon Brothers Acquires Telefunken

Boston, Aug. 14, 2023 (GLOBE NEWSWIRE) — Gordon Brothers, the global advisory and investment firm, has acquired the global consumer electronics brand Telefunken.

Based in Frankfurt, Germany, Telefunken has become one of the leading names in the electronics sector with a diverse portfolio of products ranging from video, e-mobility, domestic appliances and audio.

Gordon Brothers will invest in the brand to drive further growth of the already successful enterprise within its existing product categories and bring Telefunken products to a younger consumer segment. The firm will focus on partnering with Telefunken’s current licensees and expanding the licensee portfolio internationally by leveraging Gordon Brothers’ relationships so the brand can continue to reach consumers globally.

The acquisition expands Gordon Brothers’ current portfolio of home and lifestyle brands to include consumer electronics, a vertical in which the global brands business has deep experience and expertise.

The firm previously revitalized Polaroid and helped the iconic consumer electronics brand find new life after acquiring it out of bankruptcy, transforming Polaroid into a licensing platform and once again making it relevant to consumers.

“We are honored to continue the incredible legacy Telefunken started in 1903 and grow the brand with current and new partners,” said Frank Morton, Chief Investment Officer of Gordon Brothers. “Telefunken has opportunities for expansion and is well positioned to benefit from global industry growth within the consumer electronics, appliance and e-bikes markets.”

“Telefunken’s asset-light model is a natural fit for our portfolio of brands,” said Tobias Nanda, Head of Brands at Gordon Brothers. “Our expertise in the consumer electronics sector will help build upon Telefunken’s 120-year history.”

“Telefunken is poised for growth and enhanced global outreach,” said Hemjo Klein, the former Chairman and founder of Telefunken’s holding company. “Having developed and established a working partnership with Gordon Brothers over the last several years, I am more than confident they will uphold the brand’s legacy and steer Telefunken through the next chapter of growth.”

Gordon Brothers has been actively investing in, repositioning and growing some of the world’s most iconic brands since 2003. As owners of several brands, including Laura Ashley® and Nicole Miller, the firm prioritizes expanding licensees and franchisees to bolster their e-commerce presence and develop more strategic wholesale and retail relationships.

About Gordon Brothers
Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, management teams, advisors and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four services areas: valuations, dispositions, financing and investment. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial and industrial sectors to provide maximum liquidity, put assets to their highest and best use and mitigate liabilities. The firm conducts more than $100 billion worth of dispositions and appraisals annually and provides both short- and long-term capital to clients undergoing transformation. Gordon Brothers lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services. The firm is headquartered in Boston, with over 30 offices across five continents.

About Telefunken
Telefunken was founded in Berlin in 1903. With a pioneering spirit Telefunken established over 20,000 patents in a broad array of global industries and has been known as the ‘Innovation Company’ with innovations including the first radio broadcast, first voice recorder, inventor of electronic TV camera and PAL-colour TV. The company became a leader in electronic communication and a global player in consumer electronics within audio, video, TV and information technology, industrial applications with data transfer, mobile communication, security and solar technology supporting the NASA space program with the first space solar panels. Based in Frankfurt, Telefunken has licensees throughout Asia, Europe, North America and South America.

Attachments

Lauren Nadeau
Gordon Brothers
+1.617.422.6599
lnadeau@gordonbrothers.com

GlobeNewswire Distribution ID 8893242

The Metals Company Announces ~US$27 Million Registered Direct Offering at $2.00 Per Share Plus Class A Warrants

NEW YORK, Aug. 14, 2023 (GLOBE NEWSWIRE) — TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or the “Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today announced that it has entered into a securities purchase agreement with certain investors for the purchase of 13,461,540 common shares of the Company (the “Shares”), without par value (“Common Shares”), and accompanying Class A warrants (the “Class A Warrants” and collectively with the Shares and Class A Warrants, the “Securities”) to purchase up to 6,730,770 Common Shares in a registered direct offering. Each Common Share and the accompanying Class A Warrant to purchase 0.5 Common Shares are being sold at a price of US$2.00. The Class A Warrants have an initial exercise price of US$3.00 per share, subject to certain adjustments therein, are exercisable immediately upon issuance and will expire on December 31, 2027.

Gross proceeds to the Company from the offering are expected to be approximately US$27 million, before deducting the financial advisors’ fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the offering on working capital and general corporate purposes.

In addition, certain investors may purchase up to an aggregate of 5,500,000 additional Shares and accompanying Class A Warrants to purchase up to an aggregate of 2,750,000 additional Common Shares upon notice to the Company on or before September 15, 2023 if the closing price of the Common Shares on the trading day before such investor’s notice is $3.00 or less for an aggregate of up to an additional $11 million.

ERAS Capital LLC, the family fund of the Company’s director, Andrei Karkar, and existing shareholder, agreed to purchase 5,000,000 Common Shares and accompanying Class A Warrants to purchase 2,500,000 Common Shares for a total purchase price of US$10 million. In addition, Allseas Group S.A., a strategic partner of the Company and existing shareholder, agreed to purchase 3,500,000 Common Shares and accompanying Class A Warrants to purchase 1,750,000 Common Shares for a total purchase price of US$7 million. The Company’s Chief Executive Officer and Chairman, Gerard Barron, the Company’s Chief Financial Officer, Craig Shesky, and other members of the Company’s board of directors also agreed to purchase Securities in the offering.

The initial closing of the offering is expected on or about August 16, 2023, subject to the satisfaction of customary closing conditions. Two additional closings for US$2.5 million and US$6.5 million are expected to occur on or before November 30, 2023 and January 31, 2024, respectively, with respect to one of the investors in the offering pursuant to the terms of the securities purchase agreement.

Cantor Fitzgerald & Co., Wedbush Securities LLC, EAS Advisors LLC, Fearnley Securities Inc. and ThinkEquity LLC are engaged by the Company as financial advisors.

The Securities are being offered by the Company pursuant to an effective shelf registration statement that was previously filed with the U.S. Securities and Exchange Commission (“SEC”) on September 16, 2022, as amended, and declared effective by the SEC on October 14, 2022 (Reg. No. 333-267479). The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A prospectus supplement dated August 14, 2023 relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, 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 the registration or qualification under the securities laws of any such state or jurisdiction.

About The Metals Company

The Metals Company is an explorer of lower-impact battery metals from seafloor polymetallic nodules on a dual mission: (1) supply metals for the clean energy transition with the least possible negative environmental and social impact and (2) accelerate the transition to a circular metal economy. The Company, through its subsidiaries, holds exploration and commercial rights to three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of Nauru, Kiribati and the Kingdom of Tonga.

More info
Media | media@metals.co
Investors | investors@metals.co

Forward-Looking Statements

This press release contains “forward-looking” statements and information within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will” and variations of these words or similar expressions, although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements concerning: the timing, terms and size of the registered direct offering, the possibility that the registered direct offering will be completed and the anticipated uses of the proceeds from the registered direct offering. The Company may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various factors, including, among other things: the Company’s ability to satisfy the closing conditions in the securities purchase agreement; the risk that the investors will not exercise the warrants issued or issuable as part of the registered direct offering; the Company’s strategies and future financial performance; the International Seabed Authority’s (“ISA”) ability to timely adopt the Mining Code and/or willingness to review and/or approve a plan of work for exploitation under the United Nations Convention on the Laws of the Sea (UNCLOS); the Company’s ability to obtain exploitation contracts or approved plans of work for exploitation for its areas in the Clarion Clipperton Zone; regulatory uncertainties and the impact of government regulation and political instability on the Company’s resource activities; changes to any of the laws, rules, regulations or policies to which the Company is subject, including the terms of the final Mining Code, if any, adopted by ISA and the potential timing thereof; the impact of extensive and costly environmental requirements on the Company’s operations; environmental liabilities; the impact of polymetallic nodule collection on biodiversity in the Clarion Clipperton Zone and recovery rates of impacted ecosystems; the Company’s ability to develop minerals in sufficient grade or quantities to justify commercial operations; the lack of development of seafloor polymetallic nodule deposit; the Company’s ability to successfully enter into binding agreements with Allseas Group S.A. and other parties in which it is in discussions, if any,; uncertainty in the estimates for mineral resource calculations from certain contract areas and for the grade and quality of polymetallic nodule deposits; risks associated with natural hazards; uncertainty with respect to the specialized treatment and processing of polymetallic nodules that the Company may recover; risks associated with collective, development and processing operations, including with respect to the development of onshore processing capabilities and capacity and Allseas Group S.A.’s expected development efforts with respect to the Project Zero offshore system; the Company’s dependence on Allseas Group S.A.; fluctuations in transportation costs; fluctuations in metals prices; testing and manufacturing of equipment; risks associated with the Company’s limited operating history, limited cash resources and need for additional financing; risks associated with the Company’s intellectual property; Low Carbon Royalties’ limited operating history and other risks and uncertainties, any of which could cause the Company’s actual results to differ from those contained in the forward-looking statements, that are described in greater detail in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K filed with the SEC on March 27, 2023, as well as in other filings the Company may make with the SEC in the future. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements contained herein, whether because of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

More Info
Media | media@metals.co
Investors | investors@metals.co

GlobeNewswire Distribution ID 8893942

Exor becomes a long-term investor in Philips supporting the company’s strategy

August 14, 2023

Joint announcement from Philips and Exor

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA), a global leader in health technology, and Exor N.V. (AEX: EXO), the Netherlands-based diversified holding company, announce they have entered into a relationship agreement as a result of which Exor has bought a 15% shareholding in Philips. This investment by Exor is fully supportive of Philips’ leadership, strategy and value creation potential and provides for Exor to nominate one member to the Supervisory Board of Philips.

Philips’ strategy and value creation plan with sustainable impact is based on its purpose to improve people’s health and well-being through meaningful innovation. The company has leading market positions in attractive health technology market segments enabled by an innovative portfolio and strong customer base.

Exor aims to build great companies providing stable and committed support for their long-term value creation plans. The discussions between Exor and Philips were initiated in the context of Exor’s stated interest in increasing its presence in the healthcare and technology sectors. Exor’s investment in Philips will not result in any share dilution and has been carried out by way of on-market share purchases and an agreement with a major financial institution.

The relationship agreement includes Exor’s commitment to be a long-term minority investor and the right to propose one member to the Supervisory Board, as well as several customary conditions. While Exor does not plan to buy further Philips shares in the short term, over time the relationship agreement provides for Exor, at its discretion, to increase its participation to a maximum limit of 20% of Philips’ outstanding ordinary share capital. The relationship agreement can be accessed here.

Roy Jakobs, CEO of Royal Philips, said: “Exor’s investment in Philips, their long-term outlook and increased focus on healthcare and technology, fit well with our strategy and substantial value creation potential. With our market leadership positions and people-centric innovation capabilities, Philips is well positioned to deliver on our purpose to improve the health and well-being of people, creating value for all stakeholders.”

Feike Sijbesma, Chairman of the Supervisory Board of Royal Philips, said: “We welcome Exor as a long-term investor in Philips. They have a successful track record and clear strategy to grow and develop in healthcare and technology. Exor’s substantial investment underlines their confidence in Philips’ transformation into a healthcare technology company and its growth and value potential.”

John Elkann, Exor’s CEO, commented: “The path of change taken by Philips in recent years has created a company that combines two areas – healthcare and technology – to which we are committed. Our discussions have confirmed the strong and positive alignment between our long-term, supportive approach to our companies and Philips’ ambitious plans under the chairmanship of Feike Sijbesma and the executive team led by Roy Jakobs.”

For further information, please contact:

Philips Global Media Relations
Steve Klink
Tel.: +31 6 10888824
E-mail: steve.klink@philips.com

Philips Investor Relations
Leandro Mazzoni
Tel.: +31 20 5977055
E-mail: leandro.mazzoni@philips.com

Exor Media Relations
Tel.: + 31 20 240 2221
E-mail: media@exor.com

Exor Investor Relations
Tel.: + 31 20 240 2222
E-mail: ir@exor.com

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2022 sales of EUR 17.8 billion and employs approximately 71,500 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

About Exor
Exor N.V. (AEX: EXO), is the Netherlands based diversified holding company, listed on the AEX. For over a century, Exor has built great companies and made successful investments worldwide with a culture that combines entrepreneurial spirit and financial discipline. With a Net Asset Value of around EUR 33 billion, its portfolio is principally made up of companies in which Exor is the largest shareholder including Ferrari, Stellantis and CNH Industrial. More recently, in the healthcare sector Exor has made important investments in Institut Mérieux and in Lifenet Healthcare while in the technology sector it has become the largest single shareholder in VIA Transportation Inc.

Forward-looking statements
This statement contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

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