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NOTEHOLDER UPDATE IN RELATION TO UKRENERGO

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US$825,000,000 6.875% GUARANTEED SUSTAINABILITY-LINKED GREEN NOTES DUE 2026 (THE “NOTES”)

ISSUED BY PRIVATE JOINT STOCK COMPANY “NATIONAL POWER COMPANY “UKRENERGO”” (THE “COMPANY”)

LONDON, Nov. 8, 2024 /PRNewswire/ — Cleary Gottlieb Steen & Hamilton LLP are working with a group of significant holders of the Notes (the “Ad Hoc Group” or “AHG”).

The circumstances of the Company’s announcement on 6 November 2024 (the “Announcement”) that it will suspend payments under the Notes including the scheduled interest payment due on 9 November 2024 give rise to a number of concerns.

First, notwithstanding the clearly stated intent of the Government of Ukraine (“GoU”) (which acts as guarantor under the Notes) to engage in discussions with holders of the Notes upon the conclusion of Ukraine’s sovereign debt restructuring in August, no such discussions ever took place.  Whilst the Ad Hoc Group clearly communicated to the GoU and the Company its readiness to engage, neither the GoU nor the Company at any point demonstrated actual preparedness to enter into a non-disclosure agreement or conduct discussions with the AHG.

Second, the corporate governance issues surrounding the Company, which have been noted with concern by many of Ukraine’s stakeholders and foreign partners, appear to continue unabated. The Announcement attributed the suspension of payments on the Notes to a decision of the Ministry of Energy of Ukraine.  Proper adherence to corporate governance would dictate that any such decision should have been taken only by the Company’s management and supervisory boards. The AHG notes recent commentary by market participants suggesting Noteholders might be requested to consent to a removal of the GoU guarantee on the Notes as part of a future restructuring.  Without pre-judging the substance or nature of proposal which may be made by the Company, the continued exercise of corporate governance functions by the GoU underscores the responsibility of the GoU for the Company’s treatment of its Noteholders.

Third, holders of the Notes already made substantial concessions in the 2022 debt deferral. Since that deferral the Company has made no payments on the Notes, which the Company itself acknowledges in the Announcement has contributed meaningfully to its financial resilience for the past two years. During this same period, the Company has continued to promptly service its other commercial indebtedness (including interest and principal payments of $221 million and $156 million, respectively).  In this context, the announced suspension of payments under the Notes (including the scheduled $28 million semi-annual coupon coming due on 9 November 2024) appears particularly regrettable. It should be noted that the Notes rank pari passu with, and are not subordinated to, the other debts the Company has continued to service.

Whilst the AHG welcomes the Company’s intention to engage with it in the near future, the AHG does not consider the suspension of payments under the Notes without any prior engagement with Noteholders to be conducive to achieving the consensual solution the Company claims to want. In this context, the AHG has no other choice but to reserve all of its rights in relation to any default under the Notes whether in relation to the Company’s failure to make the interest payment due on 9 November 2024 or otherwise.

The AHG remains fully supportive and committed to Ukraine, and Ukraine’s defense of its freedom and territorial integrity in the wake of the Russian invasion.  It is also the view, however, of the AHG and many in the investment community that upholding and honouring commercial relationships to the fullest extent possible under the current circumstances is the best way to ensure (i) the long-term continuity of capital markets funding for Ukrainian borrowers and (ii) that Ukraine’s economy adjusts as rapidly as possible to new circumstances.

Holders of the Notes are invited to contact Alastair Goldrein or James Armshaw of Cleary Gottlieb Steen & Hamilton LLP for further information.

The contact details for Messrs. Goldrein and Armshaw appear below:

Alastair Goldrein

agoldrein@cgsh.com 

Office: +44 (0) 20 7614 2322

Mobile: +44 (0) 77 3417 1953

James Armshaw

jarmshaw@cgsh.com

Office: +44 (0) 20 7614 2216

Mobile: +44 (0) 7581 053 809

 

View original content:https://www.prnewswire.com/news-releases/noteholder-update-in-relation-to-ukrenergo-302299688.html

SOURCE Ad Hoc Group of Ukrenergo Bondholders

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Bulletin from the Extraordinary General Meeting in Sivers Semiconductors AB (publ) on 8 November 2024

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43 mins ago

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November 8, 2024

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NEW YORK, Nov. 8, 2024 /PRNewswire/ — The Extraordinary General Meeting in Sivers Semiconductors AB (publ) (the “Company”) has been held on 8 November 2024 and in particular the following decisions were resolved.

Resolution to approve the Board of Directors’ resolution on a new issue of shares to the CEO

The General Meeting resolved to approve the Board of Directors’ resolution to increase the Company’s share capital by up to SEK 881,168 through the issue of up to 1,762,336 new ordinary shares. The subscription price per ordinary share is SEK 3.972. With deviation from the shareholders’ preferential rights, the new ordinary shares may only be subscribed for by Vickram Vathulya, the CEO of the Company. The subscription price has been determined through agreement between the Board of Directors and Vickram Vathulya and corresponds to the closing price of the ordinary share on Nasdaq Stockholm on 11 October 2024.

For more information, please contact:
Dr. Bami Bastani, Chairman of the Board of Directors 
Tel: +1 908 87 28 370
E-mail: bami.bastani@sivers-semiconductors.com

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

https://news.cision.com/sivers-semiconductors/r/bulletin-from-the-extraordinary-general-meeting-in-sivers-semiconductors-ab–publ–on-8-november-202,c4063583

The following files are available for download:

https://mb.cision.com/Main/11695/4063583/3102744.pdf

Sivers Semiconductors – Bulletin – EGM (8 November) 2024 – #43884673 v2

 

View original content:https://www.prnewswire.com/news-releases/bulletin-from-the-extraordinary-general-meeting-in-sivers-semiconductors-ab-publ-on-8-november-2024-302300106.html

SOURCE Sivers Semiconductors

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MaidCentral Partners with Maid Brigade to Empower Franchise-Wide Efficiency and Customer Satisfaction for the House Cleaning Industry

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43 mins ago

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November 8, 2024

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CHARLESTON, S.C., Nov. 8, 2024 /PRNewswire/ — MaidCentral, a premier business management solution for the house cleaning industry, has partnered with Maid Brigade, a leading residential cleaning franchise, to become its official software provider. This strategic partnership aims to elevate operational efficiency, streamline processes, and enhance the customer experience across Maid Brigade’s extensive network of franchise locations throughout the USA and Canada.

“Our partnership with MaidCentral reflects our commitment to equipping Maid Brigade franchises with the most effective tools to optimize their operations,” said Raychel Leong-Sullins, President of Maid Brigade. “With MaidCentral, our franchisees will not only have access to state-of-the-art software but also gain insights that enable them to deliver consistent, five-star service.”

Meeting the Needs of Franchise-Wide Operations

As a fully integrated business management solution, MaidCentral provides tailored functionality that empowers each Maid Brigade franchise to automate scheduling, payroll, KPI tracking, and more. Designed for both independent cleaning companies and large-scale franchises, MaidCentral’s platform consolidates essential functions to improve the day-to-day workflows and overall performance of Maid Brigade’s franchisees.

“MaidCentral’s software aligns with our strategic goals, allowing Maid Brigade to enhance our customer experience while driving operational efficiency across all locations,” added Leong-Sullins. “This partnership is a key part of our growth as we continue to raise the standard for professional residential cleaning services.”

Key Features for Franchisees and Customers Alike

With MaidCentral, Maid Brigade franchisees can manage customer information, scheduling, and employee payroll more seamlessly, helping them focus on what matters most—providing exceptional service. The platform also allows franchisees to track and improve performance metrics in real-time, ultimately enhancing profitability and growth for each location.

Unified Operations: MaidCentral centralizes essential business functions, enabling franchisees to run their operations from a single, intuitive platform.Enhanced Customer Satisfaction: By streamlining operational processes, Maid Brigade franchisees can provide faster, more reliable service to customers nationwide.Performance Tracking: MaidCentral’s platform empowers franchisees to access KPI data, track growth metrics, and make data-driven decisions that benefit the entire franchise network.

“This partnership allows Maid Brigade to utilize technology to its fullest, ensuring a consistent, top-tier experience for all customers, while supporting each franchisee’s growth,” said Tom Stewart, CEO of MaidCentral. “We’re excited to work together to redefine the business management experience for the house cleaning industry.”

About MaidCentral

MaidCentral is a comprehensive business management software solution designed specifically for residential cleaning companies, from single-location businesses to large franchisors. MaidCentral empowers cleaning businesses to optimize scheduling, payroll, KPI tracking, and more, driving greater efficiency and profitability.

About Maid Brigade

Maid Brigade is a national franchise company specializing in professional residential cleaning services. Committed to providing high-quality, eco-friendly cleaning solutions, Maid Brigade has been a trusted name in the house cleaning industry for decades. Through innovative technology and a customer-focused approach, Maid Brigade continually sets new standards for residential cleaning excellence.

For more information, visit: MaidCentral Website | Maid Brigade Website

View original content:https://www.prnewswire.com/news-releases/maidcentral-partners-with-maid-brigade-to-empower-franchise-wide-efficiency-and-customer-satisfaction-for-the-house-cleaning-industry-302299993.html

SOURCE MaidCentral

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Sparrow BioAcoustics and Killick Capital host launch event for Canada’s First Cardiac AI Application – Stethophone

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43 mins ago

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November 8, 2024

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Attendees at the event were the first in Canada to see and experience the power of Stethophone firsthand. Stethophone is now available to Canadians on the Apple AppStore..

ST. JOHN’S, NL, Nov. 8, 2024 /PRNewswire-PRWeb/ — Sparrow BioAcoustics, a pioneering Canadian company in the field of bioacoustic medical technology, together with lead investor Killick Capital, is proud to announce the official launch of Stethophone, the first of its kind Cardiac AI application, now available in Canada.

The launch event took place on November 6 at the Emera Innovation Exchange in St. John’s, Newfoundland and Labrador, bringing together distinguished guests from the medical and science communities, provincial and local government officials, members of the press, and key leaders from the medical technology sector.

Stethophone is groundbreaking smartphone application that delivers AI-powered analysis of heart sounds, empowering patients and healthcare professionals alike with cutting-edge tools for early detection of cardiac anomalies. The innovative application was developed entirely by Canadian company Sparrow BioAcoustics and represents a significant leap forward in healthcare technology.

“At Sparrow, we are committed to revolutionizing cardiac care with technology that allows individuals to take charge of their heart health,” said Mark Opauszky, CEO of Sparrow BioAcoustics.

The Government of Canada, through the Atlantic Canada Opportunities Agency (ACOA), is provided federal contribution of $500,000 to Sparrow BioAcoustics to assist with business and product development activities.

“Sparrow BioAcoustics is doing amazing work in the fight against heart disease right here in Newfoundland and Labrador,” said the Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA. “With tech like their Stethophone, they are making it easier for folks to access quality heart care in their own homes.”

Attendees at the event were the first in Canada to see and experience the power of Stethophone firsthand. In a live demonstration, guests had the opportunity to try the application themselves and even download it directly from the Apple App Store.

The launch event highlighted the pivotal role that Stethophone will play in Canada’s medical landscape, further cementing the country’s leadership in healthcare innovation.

With its recent approval from Health Canada, Sparrow BioAcoustics is poised to make a lasting impact on both the local and the global stage of medical technology.

For more information about Stethophone and Sparrow BioAcoustics, visit https://stethophone.com/.

About Sparrow BioAcoustics

Sparrow BioAcoustics, with offices in Newfoundland and Nova Scotia, is leading the Software as a Medical Device industry in new directions for cardiac and pulmonary disease detection. Our team of physicians, engineers and data scientists are working to unlock the richest source of diagnostic information about cardiac and pulmonary conditions. Our mission is to help the millions of people at-risk and suffering from cardiac and respiratory disease to live longer, healthier lives enabled by earlier detection and quicker treatment.

Media Contact

Info@sparrowacoustics.com, Sparrow bioacoustics, 1 4162688966, Mark@sparrowacoustics.com, Sparrowbioacoustics.com

View original content to download multimedia:https://www.prweb.com/releases/sparrow-bioacoustics-and-killick-capital-host-launch-event-for-canadas-first-cardiac-ai-application–stethophone-302299022.html

SOURCE Sparrow bioacoustics

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