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IDC Overseas, Ltd. Announces Expiration and Results of Exchange Offer of its Outstanding 9.0% Notes due 2026

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TORTOLA, British Virgin Islands, March 21, 2025 /PRNewswire/ — IDC OVERSEAS, LTD. (the “Company” or “IDC”) announced today that its offer to exchange (the “Exchange Offer”) any and all of its outstanding 9.0% Notes due 2026 (ISIN: XS2590265471; Common Code: 259026547) (the “Existing Notes”) for an equal amount of its new 9.0% Notes due 2030 (the “New Notes”) has expired in accordance with its terms at 4:00 p.m. London time on March 21, 2025.  An aggregate principal amount of $144,940,000 of Existing Notes have been validly tendered for exchange, representing 96.63% of the outstanding Existing Notes.  The Company has accepted for exchange all of the Existing Notes tendered.  The Company expects the settlement date of the Exchange Offer to be on or about March 26, 2025

General

BCP Securities, Inc. is acting as exclusive dealer manager for the Exchange Offer. D.F. King Ltd. has been appointed as the information agent and exchange agent for the Exchange Offer. The complete terms and conditions of the Exchange Offer are described in the exchange offer memorandum, copies of which may be obtained by Eligible Holders by contacting (i) BCP Securities, Inc. at jharper@bcpsecurities.com or (ii) D.F. King Ltd. at +44 20 7920 9700 or idc@dfkingltd.com. For more information, visit https://clients.dfkingltd.com/idc.

The New Notes have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state of the United States or other jurisdiction, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the New Notes are being offered and sold only to non-U.S. persons outside the United States in compliance with Regulation S under the Securities Act (“Eligible Holders”).

This announcement is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy the New Notes nor an offer to purchase Existing Notes. The Exchange Offer was made solely by means of the exchange offer memorandum.

About the Company

IDC was founded in 1995 and has evolved from a consulting firm to an investment bank, to a multi-fund platform for strategic investments. IDC operates its business through four offices located in Miami, Guatemala City, Madrid and Copenhagen, providing a global platform and local knowledge for sourcing transactions and raising capital for different funds and a network divided into six verticals. IDC’s purpose is to be a transformation agent, ultimately making a positive impact and changing the lives of people through its investments and proprietary projects. As of December 31, 2024, the Company’s assets under management were US$2.1 billion.

Forward-Looking Statements

This release may contain forward-looking statements. These statements relate to our future prospects, developments and business strategies and are identified by our use of terms and phrases such as “believe,” “could,” “would,” “will,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “strategy” and similar terms and phrases, and may include references to assumptions. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and are based on numerous assumptions and that our actual results of operations, including our financial condition and liquidity may differ materially from (and be more negative than) those made in, or suggested by, any forward-looking statements contained in this release. In addition, even if our results of operations, including our financial condition and liquidity and the development of the industry in which we operate, are consistent with the forward-looking statements contained in this release, those results or developments may not be indicative of results or developments in subsequent periods. These forward-looking statements speak only as of the date of this release and we undertake no obligation to update or revise any forward-looking statement, whether as a result of new information or future events or developments. More detailed information about these and other factors is set forth in the exchange offer memorandum.

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SOURCE IDC Overseas, Ltd.

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AWE 2025: MOVA Sparks New Wave in Smart Home Technology with Ultimate Innovation

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SHANGHAI, March 23, 2025 /PRNewswire/ — On March 23rd, AWE 2025 officially concluded. At this grand gathering of global technology and innovation, the high-end smart home appliance brand MOVA made a stunning appearance with twelve pioneering technologies and a full range of new products.

Among them, the X40 Pro wet and dry vacuum sets new industry benchmarks with its three pioneering technologies: A 90°C turbocharged rapid heating system that dissolves stubborn stains, a 100°C (212°F) Deep Brush Washing feature for thorough self-cleaning, and a library-level AI-Driven Quiet Drying that eliminates worries about dampness. The MOVA robot vacuum debuted the “Space Hub Multi-Zone Mopping System”, which automatically switches between three specialized types of mop pads in the base station based on your floor surface, thus enhancing cleaning efficiency and personalization. The new vacuum cleaner features the innovative “FreeGlide” technology, enabling omnidirectional flexible cleaning.

At the event, MOVA, with its innovative, high-end, and fashionable positioning, became the undeniable focal point of the exhibition and won accolades such as the AWE Innovation Award from the AWE organizer.

Throughout the exhibition, it was graced by celebrities, with notable figures like renowned host Yang Lan, Wang Bingbing and phenomenal KOL Dong Yuhui, exploring the exhibits and discussing future visions with MOVA. The famous host Yang Lan commented, ‘MOVA’s technology embodies humanistic care, and its intelligent and convenient cleaning products free our hands from housework, allowing everyone to achieve a better balance between work and life.’ Hundreds of mainstream media outlets and top KOLs gathered at MOVA’s booth to experience the feast of smart cleaning.

From smart cleaning to new categories like personal care, pet care, coffee machines, air purifiers and kitchen appliances, MOVA presented a symphony of technology and aesthetics, interpreting the ‘future of high-end cleaning’ for the world. In the future, MOVA will bring a more convenient smart home ecosystem to global consumers.

About MOVA

MOVA is a global innovative smart appliance brand that advocates “leading innovation, connecting technology with daily life.” It is dedicated to creating new intelligent living spaces for families worldwide through continuous technological breakthroughs, exploring future home living styles.

Follow us on Facebook, Instagram, and Twitter. For more information, please visit http://global.mova-tech.com 

SOURCE MOVA

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Dreame Technology Launches Whole-House Smart Ecosystem at AWE2025, Redefining the Future of Home Living

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SHANGHAI, March 23, 2025 /PRNewswire/ — The four-day Appliances & Electronics World Expo 2025 (AWE2025) concluded at the Shanghai New International Expo Center. As a global leader in the technological home appliance sector, Dreame Technology unveiled its immersive 800-square-meter exhibition space, marking its first comprehensive showcase of a full-scenario smart-home ecosystem. The lineup included intelligent cleaning devices, smart kitchen solutions, premium large household appliances, and personal care tools, setting a new industry benchmark by transitioning from single-product intelligence to integrated whole-house smart technology.

During the event, Dreame’s cutting-edge products awarded multiple industry accolades:

The Dreame H40 Ultra Flagship Wet and Dry Vacuum was awarded the 2025 AWE Innovation Award by the event organizers.The 4th-Generation Miracle Pro Flagship Hair Care Dryer was honored with the widely recognized 2025 FT Quality Award.The Dreame X-Wind and Z-Wind Air Conditioners obtained two globally pioneering technology certifications from Frost & Sullivan.

Concurrently, Dreame strengthened its service infrastructure by signing a strategic partnership with JD Services+, ensuring users benefit from professional, efficient, and personalized after-sales support.

Dreame Technology’s debut in the major appliance sector has captured significant consumer attention, showcasing its innovative capabilities. The Dreame Dishwasher features a patented bionic eagle-wing cleaning system based on robotic arm technology. The range hood effectively addresses the noise issues associated with powerful suction. The HyperSpeed Microwave-Steam Oven uses advanced temperature control to preserve food freshness and texture.

Additionally, the Z-Fresh Series Refrigerator employs ECO ultra-low oxygen technology for optimal food preservation. Its AI-powered temperature control offers smart storage solutions. The X-Wind Natural Wind Air Conditioner introduces dual robotic arm technology for customized airflow.

Undoubtedly, Dreame Technology is leading the smart home industry into the era of Whole House Intelligent 3.0. By leveraging its holistic ecosystem strategy, the company has not only established technological benchmarks but also redefined the relationship between appliances and daily life through scenario-based innovation. This milestone marks a new starting point for the global evolution of smart homes.

About Dream Technology
Established in 2017, Dreame Technology is an innovative consumer product company that focuses on smart home cleaning appliances with the vision to empower lives through technology. Follow us on FacebookInstagramTikTok and Twitter.

For more information, visit https://www.dreametech.com/.

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SOURCE Dreame Technology

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Federal government invests in greener public transit across Quebec

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MONTRÉAL, March 22, 2025 /CNW/ – The federal government is investing over $400 million in 11 infrastructure projects, including three in Montréal, to make public transit greener across Quebec.

First, more than $200.5 million will be used to electrify the St-Laurent ($106.7 million) and Anjou ($93.7 million) transport centers through the acquisition and installation of electrical equipment that will allow the installation of several dozen charging points. In total, 148 charging points will be installed at the St-Laurent transport center, and 132 will be installed at the Anjou transport centre.

An investment of more than $83.2 million will go towards the partial electrification of the Legendre transport centre, allowing the installation of 72 charging positions for buses. This project includes technical studies, the acquisition and commissioning of equipment and infrastructure, as well as the expansion of premises for electrical equipment, the modernization of infrastructure such as the fire protection system and telecommunications rooms, the reinforcement of the building structure, and the connection to the existing generator.

The federal investments announced today will also be used to fund electrification projects at transit authority garages and operations centres across the province, notably in Longueuil, Lévis, Quebec City, Sherbrooke, and Saguenay.

Quotes

“Transitioning to electric public transit buses represents a significant step in curbing greenhouse gas emissions, improving air quality, and helping integrate environmentally friendly technologies in the transportation sector. We will continue working with partners across the country to reduce carbon emissions and advance a more sustainable transportation system.”

The Honourable Nathaniel Erskine-Smith, Minister of Housing, Infrastructure and Communities

“Our vision of Canada’s future is one of modern, green cities, adapted to the needs of families and citizens. That’s why our government has made historic investments to make public transit more accessible, reliable and efficient across the country. These new investments will modernize the infrastructure and equipment of electric bus fleets across Quebec, while helping to reduce air pollution.”

The Honourable Steven Guilbeault, Minister of Canadian Culture and Identity, Parks Canada, Quebec Lieutenant, and Member of Parliament for Laurier—Sainte-Marie

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Backgrounder: Federal government invests in greener public transit across Quebec

Quick Facts

The federal government is investing $400,153,607 in these projects through the Zero Emission Transit Fund (ZETF).The ZETF helps communities transition to zero emission transit and school buses to reduce greenhouse gas emissions and contribute to Canada’s net-zero emissions targets. By electrifying their bus fleets, communities are working toward a cleaner environment for our kids while creating jobs and supporting Canadian manufacturing.Since 2015, the federal government has committed over $30 billion for public transit and active transportation projects. These historic investments have resulted in close to 2000 projects across the country.In 2021, the government announced significant public transit funding that includes billions in support for zero emission buses, rural transit solutions, active transportation, and support for major projects to accelerate the expansion of large urban transit systems that many Canadians depend on every day.The ZETF complements Canada’s strengthened climate plan: A Healthy Environment and a Healthy Economy. Through the plan, the government has committed to providing federal funding for public transit in support of making clean and affordable transportation options available in every community.The new Canada Public Transit Fund (CPTF) will provide an average of $3 billion a year of permanent funding to respond to local transit needs by enhancing integrated planning, improving access to public transit and active transportation, and supporting the development of more affordable, sustainable, and inclusive communities.The CPTF supports transit and active transportation investments in three streams: Metro Region Agreements, Baseline Funding, and Targeted Funding. Visit the Housing, Infrastructure and Communities Canada website for more information.

Associated Links

Zero Emission Transit Fund
https://housing-infrastructure.canada.ca/zero-emissions-trans-zero-emissions/index-eng.html 

Strengthened Climate Plan
https://www.canada.ca/en/services/environment/weather/climatechange/climate-plan/climate-plan-overview.html 

Housing and Infrastructure Project Map 
https://housing-infrastructure.canada.ca/gmap-gcarte/index-eng.html

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Web: Housing, Infrastructure and Communities Canada

SOURCE Department of Housing, Infrastructure and Communities

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