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OCI Announces USD 3.4 Billion Extraordinary Cash Distribution

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AMSTERDAM, Oct. 15, 2024 /PRNewswire/ — OCI Global (Euronext: OCI) (“OCI” or the “Company”) announces today that it will pay an interim extraordinary distribution of EUR 14.5 per share in aggregate (USD 3.4 billion) following the successful completion of the sale of Iowa Fertilizer Company LLC (“IFCo”) to Koch AG & Energy Solutions in August, and the successful completion of the sale of its shares in Fertiglobe (ADX: FERTIGLB) to Abu Dhabi National Oil Company P.J.S.C. announced today.

The distribution will be made pursuant to the resolutions of OCI’s general meeting adopted on 25 April 2024 and 21 August 2024 respectively, and the latter resolution being subject to a creditor opposition period expiring on 23 October 2024.

Payment of the extraordinary distribution is expected to take place on 14 November 2024, subject to no creditors having opposed the distribution. The ex-dividend date is expected to be 28 October and record date to be 29 October.

The distribution will be made as a repayment of capital or, at the election of the shareholder, as a payment from the profit reserve and subject to Dutch Dividend Withholding Tax. Shareholders that do not make a choice will participate in the repayment of capital. A choice for one option implies an opt-out of the other option. 

The expected cumulative crystallization of approximately USD 11.6 billion gross proceeds from OCI’s recently announced sales affords OCI significant flexibility to deliver on its capital allocation priorities, including deleveraging at a gross level as well as returning a meaningful quantum of capital to shareholders. The Company will communicate potential further extraordinary dividend distributions in due course.

About OCI Global

Learn more about OCI at www.oci-global.com. You can also follow OCI on LinkedIn.

Contact Details

Sarah Rajani CFA, Global Vice President Investor Relations and Communications
Email: sarah.rajani@oci-global.com  

View original content:https://www.prnewswire.co.uk/news-releases/oci-announces-usd-3-4-billion-extraordinary-cash-distribution-302276455.html

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The Burke & Herbert Bank Foundation Reaffirms Local Bank’s Commitment to Community Development

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ALEXANDRIA, Va., Oct. 15, 2024 /PRNewswire/ — Burke & Herbert Financial Services Corp. (“Burke & Herbert”) is pleased to announce the launch of The Burke & Herbert Bank Foundation (“Foundation”), a new philanthropic initiative dedicated to building prosperity and supporting local communities. Burke & Herbert is proud to celebrate over 170 years of commitment to responsible growth and economic development, and the Foundation will provide targeted support to local organizations that are making a powerful and positive impact throughout Burke & Herbert Bank & Trust Company’s geographies.

A Community-Driven Approach to Support

The Burke & Herbert Bank Foundation is grounded in the belief that those who live and work in local communities understand their needs better than anyone else. By inviting community members, local leaders, and organizations to share their vision, the Foundation ensures its resources are directed toward initiatives that address unique challenges and create lasting change.

“We believe that the best solutions come from within the community itself,” said David P. Boyle, Chair and CEO of Burke & Herbert, “The Foundation is here to support those who are passionate about improving their neighborhoods, and together, we can achieve our goal of being the quintessential community bank by being a dependable, caring community partner.”

“The launch of The Burke & Herbert Bank Foundation affirms the commitment that David and I made when the alliance between Burke & Herbert Bank and Summit Community Bank was originally announced,” said H. Charles (“Charlie”) Maddy, III, President of Burke & Herbert, “Our commitment to the communities where we operate is part of cultivating richer and deeper relationships and underscores our aspiration to become the most sought-after community bank in our markets.”

Invitation to Submit Support Requests

The Burke & Herbert Bank Foundation encourages local organizations and leaders to submit requests for support via the Foundation’s website at burkeandherbertbank.com/foundationrequest. All applications will be thoroughly evaluated to ensure resources are directed to initiatives that align with the Foundation’s mission of fostering community growth and prosperity. Eligibility guidelines and application forms are available online at www.burkeandherbertbank.com/foundationrequest with both digital and printable submission options provided. Local representatives of the Foundation include David Boyle, Seth Feibelman, Garth Kunkle, Billie Jo Newman, Jane Petty, Tom Powell, Randy Price, Jack Rossi, Jeff Rouse, Alexis Santin, Toby Taylor, Christina Waddell, and Angela Zirk.

About Burke & Herbert

Burke & Herbert Financial Services Corp. is the financial holding company for Burke & Herbert Bank & Trust Company. Burke & Herbert Bank & Trust Company is the oldest continuously operating bank under its original name headquartered in the greater Washington, D.C. metropolitan area. With over 75 branches across Delaware, Kentucky, Maryland, Virginia, and West Virginia, Burke & Herbert Bank & Trust Company offers a full range of business and personal financial solutions designed to meet customers’ banking, borrowing, and investment needs. Learn more at investor.burkeandherbertbank.com.

For more information or to submit a support request, please visit at www.burkeandherbertbank.com/foundationrequest.

Media Contact:
Angela Zirk
Chief Experience Officer
Burke & Herbert Bank
azirk@burkeandherbertbank.com
304-530-0614

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SOURCE Burke & Herbert Financial Services Corp.

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Scott-Morgan Foundation Unveils Revolutionary AI-Powered Assistive Technology in Collaboration with Lenovo at Tech World ’24

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SEATTLE, Oct. 15, 2024 /PRNewswire/ — Today, the Scott-Morgan Foundation (SMF), a pioneering non-profit in assistive technology innovation, unveiled a groundbreaking AI-powered solution to transform the lives of people with amyotrophic lateral sclerosis (ALS) and other severe disabilities.

 

AI Restores Voices: Scott-Morgan Foundation, Lenovo, D-ID, 11Labs, Irisbond Unveil Revolutionary Tech @Tech World ’24

This revolutionary technology, revealed at Lenovo Tech World ’24, culminated years of collaboration between SMF and global technology leader Lenovo. It builds on the accessibility expertise of Thorsten Stremlau, SMF’s CTO and Systems Principal Architect at NVIDIA. Stremlau’s experience supporting Stephen Hawking’s IT needs, and his work with Dr. Scott-Morgan has been instrumental in shaping the foundation’s approach to leveraging AI for assistive technology.

Underscoring the foundation’s commitment to accessibility, SMF has partnered with ElevenLabs to provide free, personalized synthetic voices to anyone living with ALS. This ensures individuals maintain their unique vocal identities regardless of the disease’s progression.

At the heart of this innovation is a powerful integration of technologies:

D-ID’s hyper-realistic avatars allow users to maintain their visual presence and convey emotions, preserving their unique identities even as their physical abilities decline.ElevenLabs voice cloning delivers output in the user’s own voice, expressing emotion and personal identity.Irisbond’s eye-tracking technology enables control and communication across multiple platforms.Large Language Models (LLMs) powered by Lenovo interpret and expand on users’ intentions.

“This powerful technology is so often used for business or entertainment—which of course we love to see and support—but promoting social good is where we see it make a life-changing impact. D-ID has a long track record of leveraging its technology to help worthy causes,” said Gil Perry, co-founder and CEO of D-ID. “Working with this collaboration perfectly fits our strategy of using AI to make the world better and more connected.”

Eric Kern, Chief Engineer of the Scott-Morgan Foundation, explains, “We developed a custom RAG-based solution using the user’s own data such as emails and social media paired with either llama3’s large language model running on an NVIDIA RTX-40 class laptop or OpenAI’s API to enable automated and selectable responses. This dual choice generative AI system enables user choice to determine which system they are most comfortable – public or private.”

Human-Centric Design: Co-Creating with ALS Community: The foundation has collaborated closely with individuals living with ALS to ensure the technology truly meets user needs,” says Esther Duran, SMF’s Director of Design and Innovation.

LaVonne Roberts, CEO of SMF USA, emphasizes the potential impact: “We live in a world where millions are silenced by disability, including over 500 million people grappling with muscular or neurological conditions. While there’s currently no cure for ALS, our technology offers hope for maintaining quality of life and self-expression. This urgency drives our innovation. We’re not just imagining a world where even the most severely disabled individuals can fully express themselves—we’re building this revolutionary reality with the potential to impact lives on a massive scale.”

Erin, a 24-year-old botany graduate living with ALS and project participant, shares: “This technology isn’t just about maintaining my voice; it’s about expanding my future possibilities. As someone who went from studying plants to advocating on social media, I know that ALS doesn’t define us – our dreams and determination do.”

Iomar, a former hedge fund partner and father of young children, brings financial acumen and personal urgency to the project. He states, “This suite of technologies – from AI avatars and voice cloning to personalized language models – isn’t just about communication; it’s about preserving our full identities. Focusing on reducing eye fatigue is crucial, allowing us to engage longer. We’re not just developing assistive technology but bridging the gap between our minds and physical limitations.”

Andrew Morgan, CEO of the Scott-Morgan Foundation, summarizes the broader impact: “We’re creating a future where AI is accessible to all, transforming lives regardless of economic status or physical limitations. This technology isn’t just assistive; it’s paradigm-shifting. Together with our partners, we’re ushering in a new era of inclusive innovation.”

Roberts, a Zero Project’s Equitable AI Alliance member, emphasizes the foundation’s commitment to inclusive AI development: “We’re pushing for accessibility and disability inclusion in AI development.” The AI Avatar presented at Lenovo Tech World will also be showcased at the Zero Project Conference 2025, extending its impact to the global disability community.

This collaboration between the Scott-Morgan Foundation, Lenovo, and other tech partners marks a significant milestone in assistive technology. By embodying the “curb-cut effect” in technological advancement, the foundation is driving accessibility for all. This refers to solutions designed for people with disabilities that ultimately benefit a much broader population.

Roberts concludes: “We’re not just giving people with severe disabilities a voice; we’re amplifying their dreams, creativity, and ability to shape the world. This is the beginning of a new era where disability doesn’t define capability, and AI becomes a bridge to full societal participation. We’re not just changing lives; we’re revolutionizing what it means to be human in a digital age.”

The Scott-Morgan Foundation is redefining human potential through technology. We pioneer human-centric, AI-driven assistive solutions, focusing on ALS/MND to create innovations that serve the broadest spectrum of disabilities. Our “design for all” approach ensures no one is left behind. Collaborating with the disability community and tech leaders, we develop integrated, accessible technologies that empower millions to communicate, create, and fully participate in society. By democratizing cutting-edge innovation, we challenge perceptions of disability and foster an inclusive future where everyone, regardless of physical limitations, actively shapes our shared world.

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SOURCE The Scott-Morgan Foundation

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Syngenta Crop Protection and Taranis Partner to Drive AI-Powered Agronomy Solutions and Business Opportunities for Retailers

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Collaboration brings advanced AI-powered recommendations and conservation-focused services to boost farm productivity and profitability

GREENSBORO, N.C., Oct. 15, 2024 /PRNewswire/ — Syngenta Crop Protection, LLC, a global leader in crop protection, is proud to announce that Syngenta and Taranis, the world’s leading AI-powered crop intelligence platform, have entered into a multi-year collaboration to bring Artificial Intelligence (AI)-driven agronomic productivity and conservation-focused innovation to agricultural retail partners in the US.

Starting in 2024/2025 and over a three-year period, the collaboration will involve a significant investment aimed at supporting ag retailers in the adoption of Taranis’ AI-powered agronomic platforms so retail partners can benefit from AI-derived leaf-level remote scouting insights and generative AI (GenAI) agronomic recommendations. This collaboration is designed to revolutionize ag retailer workflows while optimizing farm decision making, facilitating grower adoption of conservation practices, and increasing farm profitability.

“We believe this collaboration with Taranis will help retailers tap into the full potential of AI and digital agronomy, unlocking new levels of operational efficiencies,” said Paul Backman, head of North America Crop Protection digital agriculture & sustainable solutions. “By combining Syngenta’s industry-leading portfolio with Taranis’ AI-driven insights, we empower retailers to deliver better, faster and more precise service to their grower-customers.”

Ongoing development between Syngenta and Taranis will support the continued advancement of AI-powered agronomic platforms. The collaboration will include technology and features from Syngenta’s Cropwise platform with Taranis’ leading crop intelligence solution and will target innovation in areas including conservation agronomy, agricultural productivity, and AI-enabled agronomic solutions.

Leaf-Level AI-Driven Agronomic Recommendations
Syngenta will extend a unique offer focused in the Midwest to support targeted retailers’ adoption of Taranis’ AI-driven intelligence platform providing leaf-level 0.3mm/pixel resolution threat detection of weed species, insects, diseases and nutrient deficiencies. The service will enable retailers to remotely scout more acres, more comprehensively, from anywhere they access the platform, and to easily prioritize the fields that require the most immediate attention.  Paired with Ag Assistant™, the Taranis GenAI agronomy engine, retail advisors can generate data-driven expert agronomic recommendations that save time and allow them to act decisively to help their grower-customers protect their crops using Syngenta’s market-leading crop protection portfolio, resulting in yield-enhancing crop management practices that improve retailer and grower productivity and profitability.

“Having an instantaneous understanding of the issues and the optimal solution creates efficiencies and opportunities the industry has never seen before,” said Opher Flohr, CEO of Taranis. “This collaboration with Syngenta is a significant step forward in driving the AI revolution for production agriculture.”

Future collaboration between Syngenta and Taranis will seek to integrate Syngenta’s Cropwise platform with Taranis’ Intelligence Service to further enhance digital agronomy solutions available to Retail partners.

Hassle-Free Conservation Services
This collaboration on conservation services will enable retail partners to offer their grower-customers access to Taranis’ conservation platform through a success-based model. The platform helps growers access funding for adoption of conservation practices, and when coupled with Taranis support has shown increased conservation funding success rates.  Validation of sustainable practices is streamlined through an automated process that seamlessly fulfills conservation reporting requirements.    

“Our collaboration with Taranis underscores Syngenta’s commitment to sustainability,” said Paul. “By offering easy access to conservation tools and funding, we are making it simpler for growers to adopt sustainable practices that further preserve their legacy.”

Future collaboration between Syngenta and Taranis will bring additional sustainability-focused benefits including integration of Syngenta’s Cropwise Sustainability platform with Taranis’ Conservation Service to access emerging market opportunities for retailers and growers created through digitally enabled conservation agronomy practices.

About Syngenta
Syngenta Crop Protection and Syngenta Seeds are part of Syngenta Group, one of the world’s leading agriculture companies. Our ambition is to help safely feed the world while taking care of the planet. We aim to improve the sustainability, quality, and safety of agriculture with world class science and innovative crop solutions. Our technologies enable millions of farmers around the world to make better use of limited agricultural resources.

The content of this release is for information purposes only. This release is not, and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy any securities or other property interests.

To learn more, visit www.syngenta.com and www.goodgrowthplan.com. Follow us on X at www.x.com/Syngenta and www.x.com/SyngentaUS and on LinkedIn at www.linkedin.com/company/syngenta

Media Contacts:
Kathy Eichlin
Head of US Crop Protection Communications
Kathy.Eichlin@Syngenta.com
336-544-4011

Susan Luke
Senior Communications Manager of US Crop Protection Communications
Susan.Luke@Syngenta.com 

About Taranis
Taranis is the world’s leading AI-powered crop intelligence platform, providing ag advisors and their growers with data-driven agronomic recommendations that drive farm management and input decisions. Through full-service, leaf-level data capture, Taranis’ insights and services allow the growers to accelerate decision making, simplify management, maximize profitability and enhance their sustainable farming practices. Since its founding, Taranis has worked with the world’s top agricultural retailers and crop protection companies, serving millions of acres for customers in the United States, Brazil, and Europe. Taranis has offices located in Westfield, Indiana, Tel Aviv, Israel, and Campinas, Brazil. To learn more visit www.taranis.com.

Sarah Rang
Director of Marketing
sarah.rang@taranis.com
317-804-2031

Cautionary Statement Regarding Forward-Looking Statements
This document may contain forward-looking statements, which can be identified by terminology such as ‘expect’, ‘would’, ‘will’, ‘potential’, ‘plans’, ‘prospects’, ‘estimated’, ‘aiming’, ‘on track’ and similar expressions. Such statements may be subject to risks and uncertainties that could cause the actual results to differ materially from these statements. For Syngenta, such risks and uncertainties include risks relating to legal proceedings, regulatory approvals, new product development, increasing competition, customer credit risk, general economic and market conditions, compliance and remediation, intellectual property rights, implementation of organizational changes, impairment of intangible assets, consumer perceptions of genetically modified crops and organisms or crop protection chemicals, climatic variations, fluctuations in exchange rates and/or commodity prices, single source supply arrangements, political uncertainty, natural disasters, and breaches of data security or other disruptions of information technology. Syngenta assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.

©2024 Syngenta, 410 Swing Road, Greensboro, NC, 27409. The Syngenta logo is a registered trademark of a Syngenta Group Company. All other trademarks are the property of their respective owners.

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SOURCE Taranis

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