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VNET Announces Certain Updates Regarding the Refinancing of the Founder’s Personal Loan

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BEIJING, July 8, 2024 /PRNewswire/ — VNET Group, Inc. (Nasdaq: VNET) (“VNET” or the “Company”), a leading carrier- and cloud-neutral internet data center services provider in China, today announced the refinancing of the margin loan facility provided by Bold Ally (Cayman) Limited (the “Bold Ally Loan”) to Mr. Josh Sheng Chen (“Mr. Chen”), Founder, Co-Chairperson and interim Chief Executive Officer of VNET. The Bold Ally Loan was procured by Mr. Chen in or around August 2021 to finance his purchase of 17,140,898 Class A ordinary shares from another significant shareholder at the time, and was secured by the ordinary shares beneficially owned by Mr. Chen in the Company.

With reference to the Amendment No. 8 to the Schedule 13D filing dated July 8, 2024 filed by Mr. Chen (the “Schedule 13D Amendment”), Mr. Chen and various entities wholly owned by him (the “Corporate Obligors”) have settled all of their obligations under the Bold Ally Loan. The settlement was funded using proceeds generated from the issuance of a promissory note (the “Note”) to Shining Rich Holdings Limited and the existing cash reserves of Mr. Chen.  

As a result of the settlement of the Bold Ally Loan, the collateral for the Bold Ally Loan has been released in full pursuant to a deed of undertaking as disclosed in the Schedule 13D Amendment, and Mr. Chen has restored his beneficial ownership interest in 33,628,926 Class A ordinary shares of the Company, the ownership of which was previously transferred to Bold Ally (Cayman) Limited.

The Note is secured by 68,373,133 Class A ordinary shares and 27,757,992 Class B ordinary shares beneficially owned by Mr. Chen and the Corporate Obligors, representing in the aggregate approximately 6.00% of the issued and outstanding share capital and 18.41% of the total voting power in the Company as of the date of the Schedule 13D Amendment.

Mr. Chen and the Corporate Obligors have also made various undertakings with respect to the shares of the Company. These undertakings include procuring the Company not to issue or grant, in any financial year, equity securities (including rights to acquire shares) representing 5% or more of the total issued and outstanding capital of the Company (on a fully-diluted basis) to any person, including Mr. Chen and the Corporate Obligors themselves, subject to exceptions. Details of such undertakings are set forth in the Schedule 13D Amendment.

Considering the voting power owned by Mr. Chen, his veto rights over certain corporate actions through his beneficial ownership of 60,000 class C ordinary shares and his executive powers as co-Chairperson and interim Chief Executive Officer of the Company, Mr. Chen holds significant power to direct or influence the management and policies of the Company as a controlling person.

About VNET

VNET Group, Inc. is a leading carrier- and cloud-neutral internet data center services provider in China. VNET provides hosting and related services, including IDC services, cloud services, and business VPN services to improve the reliability, security, and speed of its customers’ internet infrastructure. Customers may locate their servers and equipment in VNET’s data centers and connect to China’s internet backbone. VNET operates in more than 30 cities throughout China, servicing a diversified and loyal base of over 7,500 hosting and related enterprise customers that span numerous industries ranging from internet companies to government entities and blue-chip enterprises to small- to mid-sized enterprises.

Safe Harbor Statement 

This announcement contains forward-looking statements. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “target,” “believes,” “estimates” and similar statements. Among other things, quotations from management in this announcement as well as VNET’s strategic and operational plans contain forward-looking statements. VNET may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about beliefs and expectations on the future performance of VNET, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: VNET’s goals and strategies; VNET’s liquidity conditions; VNET’s expansion plans; the expected growth of the data center services market; expectations regarding demand for, and market acceptance of, VNET’s services; VNET’s expectations regarding keeping and strengthening its relationships with customers; VNET’s plans to invest in research and development to enhance its solution and service offerings; and general economic and business conditions in the regions where VNET provides solutions and services. Further information regarding these and other risks is included in VNET’s reports filed with, or furnished to, the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and VNET undertakes no duty to update such information, except as required under applicable law.

Investor Relations Contact:

Xinyuan Liu
Tel: +86 10 8456 2121
Email: ir@vnet.com 

View original content:https://www.prnewswire.com/news-releases/vnet-announces-certain-updates-regarding-the-refinancing-of-the-founders-personal-loan-302190783.html

SOURCE VNET Group, Inc.

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MILESOPEDIA 2025 RANKINGS: The Best Programs, Credit Cards, and Bank Accounts in Canada to Amplify Your Purchasing Power

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January 9, 2025

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MONTREAL, Jan. 9, 2025 /CNW/ – In an economic context where the rising cost of living heavily impacts households, personal finance is at the heart of Canadians’ concerns. To help them navigate this new year, Milesopedia, Canada’s leading platform for comparing credit cards and loyalty programs, publishes its grand 2025 Rankings of the Best Programs, Credit Cards, and Bank Accounts in Canada for the fourth consecutive year.

“2025 begins in an economy marked by the persistence of inflation and uncertainty contributing to the rising cost of living, making it essential to make the most out of every dollar spent. A good credit card can not only simplify payments but also enrich your daily life. Whether you want to reduce your everyday expenses, earn cash back on your essential purchases, gain access to airport lounges, or enjoy hotel upgrades, your credit cards can bring you much more than you might imagine. In the sea of banking offers, here is a ranking of cards and financial institutions that will allow you to maximize benefits according to your spending habits and needs. Too many Canadian consumers leave money on the table due to a lack of time or information. Our 2025 Rankings aim to democratize access to the best financial solutions and the rewards you deserve,” explains Jean-Maximilien Voisine, President and Founder of Milesopedia.

NOTABLE NEW ADDITIONS IN THE 2025 RANKINGS

The 2025 Rankings have been expanded to better represent the diversity of the Canadian market and are based on an in-depth analysis of 255 financial products (171 credit cards and 84 bank accounts), evaluated using over 190 criteria.

From this thorough review, Milesopedia has awarded:

22 awards for credit cards5 awards for banking services

New this year, 6 Milesopedia Community’s Choice Award were granted following a public vote conducted between December 1 and December 14, 2024:

2 credit cards, and4 loyalty programs.

The 2025 Rankings highlight notable changes, with new players emerging in the Milesopedia Community’s Favourite Categories.

Voted Best Travel Credit Card, the American Express Cobalt Card dominated the competition. It stands out for its generous rewards on dining and travel, offering an unparalleled travel experience for Canadians.

As for cash back Credit Cards, the Scotiabank Gold American Express Card has been recognized as the Best Cash Back Credit Card by the community. Offering 5% cashback on grocery and dining purchases, this card enables everyday savings while maximizing rewards.

New products also make their way into the rankings, highlighting the diversification of offers and the evolving expectations of consumers regarding flexibility and accessibility.

In the realm of preferred loyalty programs, the Aeroplan Program was recognized for its exclusive benefits and flexibility in earning and redeeming points, while the American Express Membership Rewards program stood out for its versatility and the wide range of reward options available.

Regarding bank accounts, the National Bank Checking Account for Newcomers was awarded Best Bank for Newcomers in Quebec, while the EQ Bank Personal Account was recognized as the Best Online Banking Account for its ease of access and lack of fees.

Discover our 2025 Rankings now and explore a selection of the best financial products on the market, including credit cards, bank accounts, and loyalty programs. A variety of options to meet the needs of every profile: families, travellers, students, entrepreneurs, and newcomers, with tangible benefits on everyday spending, travel, and financial management.

Press Room
https://milesopedia.com/en/about/press-releases/ 

Photos for release
Photo credit : Milesopedia (2025)
https://bit.ly/40oPRlW 

ABOUT MILESOPEDIA

Since its founding in 2015, the Montreal-based Fintech Milesopedia has established itself as the leading bilingual Canadian reference on loyalty programs, credit cards, and bank accounts (chequing and savings) offered to Canadians. Constantly sought after for its unique expertise, the company has experienced prosperous growth, particularly due to its advanced credit card and bank account comparison solutions, the most widely used in the country, reaching over 2 million unique consumers monthly through the Milesopedia Network, which includes nearly 15 partners: Protégez-Vous, François Charron, Educfinance, Dollars et cents | L’actualité, BB Jetlag, Retraite 101, Club Boomerang, Le Jeune retraité, NoovoMoi (Bell Media), InfoBref, The Canadian Jetsetter and RedFlagDeals (VerticalScope Inc.). Originally launched as a blog by Jean-Maximilien Voisine, an aviation and travel enthusiast, the team now includes 16 employees. The company makes financial products more accessible to consumers by simplifying financial literacy and promoting the responsible and profitable use of financial tools available in Canada.

SOURCE Milesopedia

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Senske Family of Companies Expands Southeast Presence with Acquisition of TurfPride

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January 9, 2025

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DALLAS, Jan. 9, 2025 /PRNewswire/ — Senske Family of Companies (SFC) is proud to announce the acquisition of TurfPride, a leading provider of residential lawn care services in the Atlanta market. This strategic acquisition builds on SFC’s growing presence in the Southeastern United States, which began with the acquisition of Arbor-Nomics in 2024. TurfPride will now become part of the Arbor-Nomics portfolio, further solidifying SFC’s commitment to delivering industry-leading lawn care solutions in the region.

TurfPride has earned a reputation as a trusted name in lawn care, offering services tailored to the specific needs of Georgia’s unique landscapes and climate. Their offerings include lawn fertilization, weed control, aeration, overseeding, disease prevention, and tree and shrub care. With a customer-first approach and a dedication to excellence, TurfPride has been a key player in the Atlanta market, delivering customized treatment programs developed in collaboration with leading turf specialists from institutions like NC State, Clemson, and the University of Georgia.

“Expanding our Southeast operations through strategic acquisitions like TurfPride allows us to strengthen our footprint and bring best-in-class lawn care services to even more customers,” said Casey Taylor, CEO of Senske Family of Companies. “TurfPride’s expertise and dedication to their customers make them a perfect fit for the Arbor-Nomics portfolio. We’re excited to build on the strong foundation they’ve established and continue growing our presence in the Atlanta market and beyond.”

TurfPride will add an additional depot in Kennesaw to Arbor-Nomics’ existing locations in Norcross, Marietta, Cumming, Winder, and Douglasville, GA. This acquisition highlights SFC’s broader strategy to expand in key markets while maintaining the exceptional service and trusted reputation customers expect.

About Senske Family of Companies: Since securing investments from the private equity firm GTCR, the Senske Family of Companies has completed eighteen acquisitions. Senske serves customers in sixteen U.S. states as well as Canada and remains committed to its international expansion strategy by actively seeking partnerships with distinguished home services companies. 

More on Senske’s M&A process can be found at www.senske.com/why-senske/mergers-and-acquisitions/.

View original content to download multimedia:https://www.prnewswire.com/news-releases/senske-family-of-companies-expands-southeast-presence-with-acquisition-of-turfpride-302346344.html

SOURCE Senske Services

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West Academic, A BARBRI Company Partners with The American Law Institute to Elevate Legal Education Resources

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January 9, 2025

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DALLAS, Jan. 9, 2025 /PRNewswire/ — West Academic, a BARBRI company, the leading provider of legal education content and digital learning tools, has added a valuable new addition to its subscription offerings: The American Law Institute Collection. In partnership with The American Law Institute (ALI), this collection offers law schools access to official texts and Tentative Drafts of Restatements, Principles, and the Model Penal Code. The ALI Collection is available as a supplement to the West Academic Study Aids & Reference Collection, providing comprehensive support for legal education.

“We’re excited to partner with ALI to deliver their content with the West Academic Study Aids & Reference Collection. The user-friendly eReader format our platform provides will make it easier for law librarians, faculty, and students at subscribing schools to access this valuable content and incorporate it into their research, teaching, and studies. Our team has loved working with ALI and looks forward to continued collaboration,” said Pamela Siege Chandler, Chief Content and Learning Officer at BARBRI.

The inclusion of ALI’s collection with West Academic’s digital platform means access to critical legal texts with greater ease and convenience. The ALI Collection includes comprehensive resources fundamental to understanding and interpreting the law, such as Restatements of the Law, Principles of the Law, and the Model Penal Code.

“We are thrilled the published books and Tentative Drafts of The American Law Institute’s Restatements, Principles, and the Model Penal Code are now available through West Academic’s Study Aids Collection,” said ALI Director Diane P. Wood. “A core component of our mission is to clarify the law, and now students embarking on their legal education will have easy access to our current library to assist in their studies.”

Wood continued, “While our work in Torts, Contracts, Property, and other areas has long been a cornerstone of legal education, this partnership ensures law schools have convenient electronic access to not only our published books but also our works in progress, including Tentative Drafts on crucial subjects like Children and the Law, Copyright, and Corporate Governance.”

This partnership aligns with BARBRI’s ongoing commitment to providing comprehensive and accessible legal education resources. By including ALI’s texts alongside its digital learning platform, West Academic continues to support the academic and professional growth of law students, equipping them with the essential resources needed for success in the legal field.

For more information about the ALI Collection or to learn more about subscription options, please contact your West Academic Account Manager.

About The American Law Institute
The American Law Institute is the leading independent organization in the United States producing scholarly work to clarify, modernize, and improve the law. The ALI drafts, discusses, revises, and publishes Restatements of the Law, Model Codes, and Principles of Law that are influential in the courts and legislatures, as well as in legal scholarship and education. By participating in the Institute’s work, its distinguished members have the opportunity to influence the development of the law in both existing and emerging areas, to work with other eminent lawyers, judges, and academics, to support the rule of law and the legal system, and to contribute to the public good. For more information about The American Law Institute, visit www.ali.org.

About West Academic, A BARBRI Company
In 2021, BARBRI acquired West Academic. West Academic offers industry-leading legal education materials and digital learning resources for law schools. Rooted in a rich history of legal expertise and innovation, West Academic delivers trusted resources that support faculty instruction and enhance student learning.

BARBRI is the global leader and largest provider of tech-enabled legal learning solutions for law students, law schools, universities, professionals, law firms, and organizations.

BARBRI has been the number one brand in legal education for over 50 years and has forged a trusted relationship with more than 1.5 million legal professionals around the world. BARBRI’s ongoing commitment to innovation in technology, learning science, and expert content and curriculum — developed by renowned experts — empowers global legal learners at every step of their career journey. From helping aspiring lawyers prepare for the LSAT and succeed in law school, to delivering effective U.S. Bar and SQE preparation courses and a lifetime of legal education through professional development courses, BARBRI’s exceptional resources, data insights, and personalized support help legal learners, law schools and organizations achieve their goals and provide excellent learner outcomes.

BARBRI is headquartered in Dallas, Texas, with offices in the United States and United Kingdom.

For more information, please visit www.barbri.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/west-academic-a-barbri-company-partners-with-the-american-law-institute-to-elevate-legal-education-resources-302346430.html

SOURCE BARBRI

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