As Australia seeks to steer a middle course between its main ally and its main trading partner, the task is made slightly easier by off-putting behaviour from both. Reported by Sydney Morning Herald 59 minutes ago.

You might want to sit down before you read this.  It turns out that those standing desks that were supposed to be the health salvation for the sedentary office worker might not be so great after all.  A small study conducted by a university in Australia recently found that rather than helping workers lose weight, reduce back pain and stay alert, standing at a desk for a long time may cause "discomfort and deteriorating mental reactiveness," the Chicago Tribune reports.  The research was published… Reported by bizjournals 2 hours ago.

TORONTO, March 01, 2018 (GLOBE NEWSWIRE) -- Stratabound Minerals Corp. (TSXV:SB) (“Stratabound” or “the Company”) is pleased to announce that the Company will be attending PDAC March 4 through 7 in Toronto and will be presenting its newly optioned Golden Culvert Project at the conference.

We will also be presenting detailed talks followed by discussion at the Yukon Geological Survey booth #528 in the PDAC Trade Show area according to the following schedule:

Sunday, March 4 at 11:00AM

Monday, March 5 at 1:30PM

Kim Tyler, our President and CEO, and Mike Page, our Vice President Exploration, will be available after the talks for questions and answers. The discussions will cover the geological similarities and distinctions between Stratabound’s Golden Culvert Project and the nearby 3 Aces Project.

Please visit Stratabound at Booth # 3243 in the Investors Exchange throughout PDAC.

Mr. R. Kim Tyler, P.Geo., President and CEO of Stratabound, is a “Qualified Person” for the purpose of NI 43-101 and has reviewed and approved the contents of this news release.

*About the Golden Culvert and Little Hyland Properties*

Golden Culvert and Little Hyland cover 83.8 square kilometres across a 24-kilometre strike located approximately 20 kilometres northeast of and parallel to Golden Predator Mining Corp.’s 3 Aces property. Work filed in Yukon mineral claims assessment reports has outlined a northerly trending, 3 kilometre by 250 metre, +30 ppb Au up to 791 ppb Au gold-in-soil anomaly that remains open at both ends. The soil anomaly is centred around partially exposed primary gold-bearing quartz veins grading between 7.7 to 22.8 gpt gold over 1 metre and complimentary gold-bearing quartz vein stockwork within a larger silicified, altered, sulphide and gold-bearing wallrock grading up to 2.27 gpt gold over 0.5 metre.  

To date a total of $564,400 of work has been done on the Property, including 3,645 soil samples, 48 stream samples, 239 rock samples,  19.4 line-km of ground magnetic survey and 18.5 line-km of VLF survey.

For further information, please see the Golden Culvert presentation and the NI 43-101 technical report on the Stratabound web site, www.stratabound.com.

*About Stratabound*

Stratabound Minerals Corp. is a Canadian exploration and development company focused on the Yukon Territory and to a lesser extent the Bathurst Mining Camp in New Brunswick. Stratabound has a portfolio of quality properties including:

1. The Golden Culvert gold-silver property in the southeast Yukon.
2. The Little Hyland gold-silver property in the southeast Yukon.
3. The Captain copper-cobalt property in the Bathurst area of New Brunswick.
4. The CNE base metal property in the Bathurst area of New Brunswick.
5. The Taylor Brook base metal property in the Bathurst area of New Brunswick (currently under option to Bandera Gold Ltd.).

Stratabound management also has a diversified track record of exploration, development and operating successes that includes the Kemess mine in British Columbia; the Colomac mine in the Northwest Territories; the Nighthawk Lake mine in Timmins, Ontario; the Matachewan mine in Ontario; the Pine Point project in the Northwest Territories; rescuing the Caribou mine in New Brunswick from an insolvency auction; Olympic Dam mine in Australia, the Siguiri gold project in Guinea; Norilsk Nickel’s projects in Siberia and Western Australia; and Vale and Rio Tinto Minerals in North America.

For further information contact:
R. Kim Tyler, President and CEO
416-915-4157
info@stratabound.com
www.stratabound.com 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
WARNING: The Company relies upon litigation protection for “forward looking” statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, failure to obtain regulatory, exchange or shareholder approval, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

  Reported by GlobeNewswire 3 hours ago.

Christina Twomey takes us beyond the moment of liberation and return and reveals how many POWs struggled with the aftermath. Reported by Brisbane Times 44 minutes ago.

VANCOUVER, B.C., March 01, 2018 (GLOBE NEWSWIRE) -- Namaste Technologies Inc. (“*Namaste*” or the “*Company*”) (CSE:N) (FRA:M5BQ) (OTCMKTS:NXTTF) is pleased to announce that the Company has nominated Branden Spikes, Laurens Feenstra and Donald William Nickless (the “*Nominees*”) for positions on Namaste’s 2018 board of directors, in addition to current board members Sean Dollinger, Sefi Dollinger and Kiranjit Sidhu. These three new Nominees represent a major milestone for Namaste in solidifying the board and supporting the Company’s future growth within the cannabis industry. The Nominees and proposed board members have served in critical roles at Google, SpaceX and Seagram’s International, and bring an intangible amount of value in helping advance the Company's technology through innovation. The Nominees bios and experience are outlined below:*Laurens Feenstra* - Laurens Feenstra is currently Product Manager at Waymo, formerly known as Google's self-driving car project. Prior to Waymo, he worked on some of Google’s most well-known products such as Search, Chromebooks, and Android. As a strategy consultant at McKinsey & Company, he has helped large media, banking and government clients become data analytics-driven companies. Mr. Feenstra holds degrees in Human-Computer Interaction and Artificial Intelligence from University of Groningen in the Netherlands and was a visiting researcher on "Intelligent Turtoring Systems" at Carnegie Mellon University.

When not working on the latest technology, he organizes small electronic music festivals and runs a Burning Man camp.

*Branden Spikes *- Branden Spikes, considered as “Elon Musk’s most trusted lieutenant” by Venture Beat, worked side by side with Musk for over 15 years and helped pioneer ground breaking technologies at SpaceX, Tesla, and PayPal. He was the CIO of SpaceX for ten years and was instrumental in setting up the information systems at Tesla Motors during its formative years after having served as Director of IT at PayPal. Spikes then founded Spikes Security in 2012, with a mission to solve the most pressing cybersecurity challenge, browser malware and served as its CEO until it merged with Aurionpro in 2017. Mr. Spikes is an investor, advisor and a technology evangelist.

*Donald William Nickless* – Mr. Nickless graduated from Macdonald College of McGill University with a BSc in Agriculture. Mr. Nickless then worked for thirty plus years working for the Seagram Company Limited, beginning as a front-line supervisor in manufacturing, progressing through various Department Head positions to the manager of the Company’s largest Canadian plant. Subsequent, Mr. Nickless held various positions that culminated in the appointment to Executive Vice President of Manufacturing, SeagramAmericas with responsibility for Manufacturing Operations in the US, Canada, and South America. Mr. Nickless is now retired and living in Vermont as a “Gentleman Farmer”.

In connection with these nominations, Peter Simeon and Philip van den Berg will not be standing for re-election at the Annual General Meeting.

We would also like to thank Peter Simeon and Philip van den Berg for serving on the Board.  Peter will continue to serve as legal counsel and corporate secretary to the Company and Philip will continue to serve as Chief Financial Officer.

*Management Commentary*

*Sean Dollinger, *President and CEO of Namaste comments; *“*From the outset, Namaste has been focused on revolutionizing the cannabis industry through innovation.  These Nominees represent an incredible opportunity for Namaste to not only strengthen the team but to significantly broaden the scope of our vision to revolutionize the industry. The combined experience and knowledge these individuals possess cannot be measured and we feel extremely privileged to have them willing to join our team and contribute significantly to the future direction of Namaste. Our entire team remains focused in our efforts and is committed in helping to redefine the industry. We strongly believe these Nominees will help drive future growth opportunities and help solidify Namaste as a global leader in the development of cannabis technology solutions.”

*About Namaste Technologies Inc. *
Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through 24 e-commerce sites in 20 countries and with distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the UK, Canada and Germany and has opened new supply channels into emerging markets including Brazil, Mexico and Chile. Namaste, through its acquisition of Cannmart Inc., a Canadian based late-stage applicant for a medical cannabis distribution license (under the ACMPR Program) is pursuing a new revenue vertical in online retail of medical cannabis in the Canadian market. Namaste intends to leverage its existing database of Canadian medical cannabis consumers, along with its expertise in e-commerce to create an online marketplace for medical cannabis patients, offering a larger variety of product and a better user experience.

On behalf of the Board of Directors

“Sean Dollinger”
Chief Executive Officer
Direct: +1 (786) 389 9771
Email: info@namastetechnologies.com

Further information on Namaste and its products can be accessed through the links below:

Agreement.namastetechnologies.com
Agreement.namastevaporizers.co.uk
Agreement.everyonedoesit.co.uk
Agreement.australianvaporizers.com.au

*Forward Looking Information *
This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Namaste assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com. This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward looking statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. The Canadian Securities Exchange has neither reviewed nor approved the contents of this press release. Reported by GlobeNewswire 2 hours ago.

DURBAN, March 1 (Reuters) - Australia captain Steve Smith reached a fifth successive half century in tests before being dismissed, leaving the Marsh brothers to take Australia to 170 for four wickets at tea on the opening day of the first test against South Africa on Thursday. Reported by Reuters India 2 hours ago.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange releases published by Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) on 25 January 2018 regarding the restructuring of the Company's balance sheet (the "Restructuring"), and on 23 February 2018 regarding the satisfaction of the conditions for the Private Placement.

Polarcus is pleased to announce that 230,769,231 new shares of a par value of USD 0.10 each (the "Private Placement Shares"), authorized by the Company in connection with the Private Placement, have been validly issued and delivered to the investors who were allocated shares in the Private Placement.  Accordingly, all Closing Conditions for the Restructuring have now been completed and the Effective Date for the amendments to the Company's Bond Issues (described in its stock exchange release dated 12 February 2018) is 1 March 2018.

Following the issuance of the Private Placement Shares, the Company has an issued share capital of USD 38,420,777 divided into 384,207,770 shares, each with a par value of USD 0.10. All shares have equal rights in all respects, including with respect to voting and dividends. The Private Placement Shares have been issued on a separate ISIN being KYG7153K1739, and will not be tradable on Oslo Børs until a prospectus has been approved and made public, following which the Private Placement Shares will be transferred to the Company's ordinary ISIN, being KYG7153K1085, and will be listed and tradable on Oslo Børs. The Private Placement Shares are expected to be listed on Merkur Market under the ticker PLCS-ME from 2 March 2018, until the listing on Oslo Børs.

*Bond Conversion*

The Company will initiate the processes required for completing the conversion of unsecured bonds to shares in the Company as described in the Company's stock exchange notice on 13 February 2018 (the "Bond Conversion"). Before the Bond Conversion takes place, the outstanding principal amount under the Company's bond issues will be significantly reduced (the "Bond Write Down"). After completion of the Bond Write Down, the new outstanding amount under the convertible bond issue, the USD unsecured bond issue and the NOK unsecured bond issue will be USD 8,597,550, USD 26,263,750 and NOK 94,960,000 respectively. The outstanding amount under each bond issue will be further reduced following the Bond Conversion.

The preliminary result of the Bond Conversion estimates that 98,868,742 new shares will be issued to holders of unsecured bonds (the "Bond Conversion Shares"). The Bond Conversion Shares are expected to be delivered to the bondholders who elected to receive and have been allotted such shares on or about 13 March 2018.

Following the issuance of the Bond Conversion Shares, the Company is expected to have an issued share capital of USD 48,307,651.2 divided into 483,076,512 shares, each with a par value of USD 0.10. All shares have equal rights in all respects, including with respect to voting and dividends. The Bond Conversion Shares will be issued on the same ISIN as the Private Placement Shares, being KYG7153K1739, and will not be tradable on Oslo Børs until a prospectus has been approved and made public, following which the Bond Conversion Shares will be transferred to the Company's ordinary ISIN, being KYG7153K1085, and will be listed and tradable on Oslo Børs. The Bond Conversion Shares are expected to be listed on Merkur Market under the ticker PLCS-ME from on or about 14 March 2018, until the listing on Oslo Børs.

*Repair Offering*

As previously announced, following approval of the prospectus (which is expected to occur before the end of March, 2018), the Company shall conduct a fully underwritten subsequent offering of 30,769,231 shares raising NOK 40 million with a subscription price of NOK 1.30, which is the same subscription price per share as in the Private Placement.

 

*Contacts*

Caleb Raywood, Company Secretary
+971 4 4360 816
company.secretary@polarcus.com

Hans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@polarcus.com

 

*About Polarcus*

Polarcus (OSE: PLCS) is an innovative marine geophysical company with a pioneering environmental agenda, delivering high-end towed streamer data acquisition and imaging services from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions and employs approximately 350 professionals worldwide. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com

 This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act. Reported by GlobeNewswire 2 hours ago.

Kapil believes the current side under Kohli has the ability to do well in England and Australia too. Reported by DNA 2 hours ago.

Japan is currently ranked 4th in worldwide e-commerce consumption, representing a major opportunity for RTB House’s deep learning-based retargeting services.

NEW YORK (PRWEB) March 01, 2018

RTB House, a global company providing state-of-the-art retargeting technology based on deep learning for top advertisers, today announced the addition of Japan to its APAC market portfolio. Japan is currently ranked 4th in worldwide e-commerce consumption, representing a major opportunity for RTB House’s deep learning-based retargeting services.

With an annual growth rate (CAGR 2018-2022) of 6.2 percent, a market volume of US$113,854m in 2022 and nearly 94 percent of internet penetration, Japanese online consumers comprise one of the world’s top markets for digital storefronts.

“Establishing ourselves in the APAC region over the last couple years, the time has come to extend our retargeting services to Japan,” said Jakub Ratajczak, managing director APAC at RTB House, who will lead operations in Japan. “Increases in ad spending have created demand for solutions that will bring added value for marketers. Algorithms based on deep learning differentiate our platform from other retargeters, generating campaigns up to 50 percent more efficient than those without deep learning. By offering a unique and flexible retargeting solution, we would like to help e-commerce players reach the most promising buyers, higher returns on their online marketing and advertising investments.”

RTB House has ongoing cooperation with leading marketing agencies in the region (Cyber Agent, Dentsu Digital, GMO Nikko, Septeni, Medix, Kizuku). The local office already has plans to expand its workforce with new account managers, sales specialists and inventory buyers. RTB House revenues in the APAC region have seen disruptive growth, increasing six-fold within the last 12 months.

Before the opening of the Tokyo office, RTB House provided retargeting to 11 countries in Asia Pacific region including Indonesia, Malaysia, Thailand, Taiwan and Singapore. Last year, India and Australia were added to its market portfolio.

RTB House is one of few companies in the world that managed to develop and implement its own technology for purchasing advertisements in the RTB model (real-time bidding) – a solution in which buyers participate in real-time advertising space auctions. The company operates worldwide and runs campaigns for global brands in almost 70 markets across Europe, North America, Latin America, Asia and Pacific, Middle East and Africa.

About RTB House:
RTB House is a global company that provides state-of-the-art retargeting technology for top brands worldwide. With its proprietary ad buying engine, powered by deep learning algorithms, RTB House helps advertisers multiply sales to reach their short, mid and long-term goals.

Founded in 2012, RTB House serves over 1,000 campaigns across more than 40 markets of Europe, the Middle East, Africa, Asia, Pacific and Latin America. The team consists of more than 300 professionals and growing.
Learn more at http://www.rtbhouse.com Reported by PRWeb 2 hours ago.

CHICAGO, March 01, 2018 (GLOBE NEWSWIRE) -- VelocityEHS, the global leader in cloud-based environment, health, safety (EHS) and sustainability solutions, will be featured in a live demo at the National Association for Environmental Management’s (NAEM) 2018 EHS and Sustainability Software and Data Management Conference. Safety and environmental professionals attending the show will get a firsthand look at how the VelocityEHS cloud and mobile solutions can help them simplify and improve their EHS programs.During the session, How a New Software System Can Support EHS Evolution, held on Tuesday, March 6 from 10:45 – 11:45 a.m. ET, Dan Arnold, Program Manager EHS Services at International Paper will outline improvements the company has experienced since replacing its aging and costly in-house incident management system with the VelocityEHS software platform. Among the benefits International Paper has realized are: centralized EHS data collection, improved incident reporting and inspections, better companywide visibility through real-time dashboards, and streamlined OSHA reporting. Joining Arnold is Zoë Frances, Product Marketing Director at VelocityEHS.

“It’s an honor to have International Paper showcase the ways we have partnered together to solve their complex EHS challenges,” said Glenn Trout, president and CEO of VelocityEHS. “The NAEM audience includes many of the best minds and most accomplished EHS professionals in the industry, and we look forward to the dialogue this demo is sure to spark with other companies looking for software to help take their EHS programs to the next level.”

Conference attendees are also encouraged to visit the VelocityEHS booth (#302) for an in-person demonstration of how the company’s award-winning software and mobile apps are transforming the way employers safeguard their employees and manage risk. The VelocityEHS Mobile App features a simple user interface and robust tools that work seamlessly – whether on or offline – with the company’s desktop platform giving EHS professionals and their frontline workers a more efficient way to report and manage incidents, near misses and job hazards, perform inspections, and capture critical incident data in real-time using the camera and voice-to-text features found on most of today’s mobile devices.   

To learn more about how VelocityEHS is helping more than 13,000 customers worldwide from virtually every industry improve EHS&S performance, visit www.EHS.com.

The annual NAEM software conference brings together corporate leaders and solution providers to discuss the increasingly central role data management plays in today’s EHS and sustainability programs. For more information, visit http://ehsmis.naem.org/.

*About* *VelocityEHS**
*VelocityEHS is the leading global provider of cloud-based environment, health and safety (EHS) software. Its comprehensive software platform and innovative mobile applications, including its award-winning MSDSonline chemical inventory management solutions, aim to make enterprise-level EHS functionality accessible and affordable to businesses of all sizes, helping them solve complex compliance and regulatory challenges in simple ways. Today, more than 13,000 customers worldwide, from virtually every industry, trust VelocityEHS and its solutions to improve EHS performance. Recognized by the industry’s top independent analysts, including leading scores in the Verdantix 2017 Green Quadrant Analysis and 2017 NAEM EHS & Sustainability Software Ratings Report, VelocityEHS helps customers reach their EHS goals faster with quick implementations, affordable solutions and unparalleled customer support. VelocityEHS is headquartered in Chicago, Illinois with locations in Canada, the UK and Australia. For more information, visit www.EHS.com. 

*Media Contact*

Betsy Utley-Marin
312.881.2307
butleymarin@ehs.com  Reported by GlobeNewswire 1 hour ago.

*Proposed combination between Essilor and Luxotticareceives clearance from US Federal Trade Commission without conditions*

PDF Version of the news release

*Charenton-le-Pont, France and Milan, Italy (March 1, 2018)* - Essilor (Euronext Paris: EI) and Luxottica (MTA: LUX) today announce that the proposed combination between the two companies has been cleared by the US Federal Trade Commission without conditions. The United States is one of the jurisdictions where antitrust approvals are a condition precedent to the closing of the transaction.
To date, the transaction has also been unconditionally approved in the European Union, and in 13 other countries: Australia, Canada, Chile, Colombia, India, Japan, Mexico, Morocco, New Zealand, Russia, South Africa, South Korea and Taiwan.

The finalization of the proposed Essilor and Luxottica combination is planned for the first part of 2018 after obtaining all necessary authorizations.

*Contacts*

*Essilor*

* *

*Investor Relations *
Véronique Gillet
Tel.: +33 (0)1 49 77 42 16

* *

*Corporate Communications **and Media Relations*
Maïlis Thiercelin
Tel.: +33 (0)1 49 77 45 02 *Luxottica Group*

 

*Investor Relations and Corporate Communications*
Alessandra Senici
Tel.: +39 (02) 8633 4870

 

*Corporate Communications and Media Relations*
Marco Catalani
Tel.: +39 (02) 8633 4470

*About Essilor*
Essilor International (Compagnie Générale d'Optique) ("Essilor") is the world's leading ophthalmic optics company. Essilor designs, manufactures and markets a wide range of lenses to improve and protect eyesight. Its mission is to improve lives by improving sight. To support this mission, Essilor allocates more than €200 million to research and innovation every year, in a commitment to continuously bring new, more effective products to market. Its flagship brands are Varilux^®, Crizal^®, Transitions^®, Eyezen^TM, Xperio^®, Foster Grant^®, Bolon^TM and Costa^®. It also develops and markets equipment, instruments and services for eyecare professionals.
Essilor reported consolidated revenue of around €7.5 billion in 2017 and employs approximately 67,000 people worldwide. It markets its products in more than 100 countries and has 34 plants, 481 prescription laboratories and edging facilities, as well as 4 research and development centers around the world. For more information, please visit www.essilor.com.
The Essilor International share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices.  Codes and symbols: ISIN: FR0000121667; Reuters: ESSI.PA; Bloomberg: EI:FP.

*About Luxottica Group*
Luxottica is a leader in the design, manufacture and distribution of fashion, luxury and sports eyewear. Its portfolio includes proprietary brands such as Ray-Ban, Oakley, Vogue Eyewear, Persol, Oliver Peoples and Alain Mikli, as well as licensed brands including Giorgio Armani, Burberry, Bulgari, Chanel, Coach, Dolce&Gabbana, Ferrari, Michael Kors, Prada, Ralph Lauren, Tiffany & Co., Valentino and Versace. The Group's global wholesale distribution network covers more than 150 countries and is complemented by an extensive retail network of approximately 9,000 stores, with LensCrafters and Pearle Vision in North America, OPSM and LensCrafters in Asia-Pacific, GMO and Óticas Carol in Latin America, Salmoiraghi & Viganò in Italy and Sunglass Hut worldwide. In 2017, with more than 85,000 employees, Luxottica posted net sales of over Euro 9 billion. Additional information on the Group is available at www.luxottica.com.

*Important Information*
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or any other jurisdiction. Securities may not be offered or sold in the United States unless they have been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or are exempt from registration. The securities that may be offered in any transaction have not been and will not be registered under the U.S. Securities Act and Essilor does not intend to make a public offering of any such securities in the United States.
This press release is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). The securities which are referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

Attachment:

http://www.globenewswire.com/NewsRoom/AttachmentNg/d00e8087-7226-44b1-ad0e-bb71cbb3dd83 Reported by GlobeNewswire 1 hour ago.

Mar 1 (OPTA) - Scoreboard at stumps on the first day of 1st test between South Africa and Australia on Thursday at Durban, South Africa Australia are 225 for 5 Australia 1st innings Cameron Bancroft c Quinton de Kock b Vernon Philander 5 David Warner c AB de Villiers b Vernon Philander 51 Usman Khawaja c Quinton de Kock b Kagiso Rabada 14 Steven Smith c AB de Villiers b Keshav Maharaj 56 Shaun Marsh c AB de Villiers b Keshav Maharaj 4 Reported by Reuters India 10 minutes ago.

It was honours even after day one of the first test between the Proteas and Australia that was halted early by bad light. Reported by News24 43 minutes ago.

Nick Jonas was seen on a date night with a mystery female while vacationing in Sydney, Australia! The 25-year-old entertainer was seen out and about with the woman on Wednesday (February 28). It looks like the date began on a rocky note when the woman bloodied up her knees after falling off a bike. They [...] Reported by Just Jared 16 minutes ago.

DURBAN, March 1 (Reuters) - Captain Steve Smith and opener David Warner both scored fifties on Thursday as Australia reached 225 for five before poor light brought play to an early close on the opening day of the first test against South Africa. Reported by Reuters India 10 minutes ago.

Britain's child migration programmes saw thousands, many in care or from poor backgrounds, sent to countries including Australia and New Zealand, partly to save money on care costs. Reported by MailOnline 12 minutes ago.

KOJAMO PLC, STOCK EXCHANGE RELEASE, 1 March 2018 at 5:15 p.m EET

*NOT FOR PUBLISHING OR DISTRIBUTION, WHETHER IN WHOLE OR IN PART, EITHER DIRECTLY OR INDIRECTLY IN THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEAL**AND, SINGAPORE, SOUTH AFRICA, OR IN ANY OTHER COUNTRIES WHERE PUBLICATION OR DISTRIBUTION WOULD BE AGAINST THE LAW** *

Kojamo plc has successfully completed the offering of EUR 500 million senior unsecured notes (the "*Notes*"). The maturity of the euro-denominated Notes is 7 years, and the maturity date is 7 March 2025. The Notes carry a fixed annual coupon of 1.625 per cent, payable annually on 7 March. 

The Notes were allocated to a broad base of international investors and the offering was substantially oversubscribed. Kojamo plc will apply for listing of the Notes on the official list of the Irish Stock Exchange, and for their admission to trading on the regulated market in question. The Notes have been rated Baa2 by Moody's, reflecting Kojamo's long term issuer rating of Baa2 with stable outlook. 

The company will use the proceeds of the issuance of the Notes to repay approximately EUR 300 million of one or more secured loan facilities, for general corporate purposes and for supporting the growth targets of the company. 

According to Chief Financial Officer Erik Hjelt, "Our second foray to the Eurobond market further strengthens Kojamo's position in the international debt capital markets, further diversifies our investor base, and offers long-term financing on favourable terms." 

Danske Bank A/S, Deutsche Bank AG, London Branch, Nordea Bank AB (publ), and Svenska Handelsbanken AB (publ) acted as joint bookrunners.

Helsinki, 1 March 2018

KOJAMO PLC

* *

Further information:
Jani Nieminen, CEO, tel. +358 20 508 3201
Erik Hjelt, CFO, tel. +358 20 508 3225

Kojamo is the front-runner in rental housing and real estate investments. It has undergone major renewals in recent years. The renewed Kojamo is able to provide better urban housing in a rapidly changing world. Kojamo is transforming Finnish society together with its customers, other companies and operators, as well as cities.

*Disclaimer* 

This release is for information purposes only and is not to be construed as an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities of Kojamo plc ("*Kojamo*"). The distribution of this release and the related material concerning the issuance of EUR 500 million notes (the "*Notes*") may, in certain jurisdictions, be restricted by law. No actions have been taken to register or qualify the Notes, or otherwise to permit a public offering of the Notes, in any jurisdiction. Any offering material or documentation related to the Notes may be received only in compliance with applicable exemptions or restrictions. Persons into whose possession this release or any such offering material or documentation may come are required to inform themselves of and observe all such restrictions. This release and any such offering material or documentation may not be distributed or published in any country or jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction or would require actions under the laws of a state or jurisdiction. In particular this release and any such offering material or documentation may not be distributed in the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or any other jurisdiction in which it would not be permissible to offer the Notes and this release and any related material concerning the issuance of the Notes may not be sent to any person in the beforementioned jurisdictions. The information contained herein shall not constitute an offer to sell or buy, or a solicitation of an offer to buy or sell any of Kojamo's securities including the Notes to any person in any jurisdiction in which such offer, solicitation or sale would be unlawful. Neither Kojamo, the joint bookrunners, nor their representatives accept any legal responsibility for any violation by any person, whether or not the persons contemplating investing in or divesting Kojamo's securities including the Notes are aware of such restrictions. The Notes have not been and will not be registered under the U.S. Securities Act, or under the securities laws of any state or other jurisdiction of the United States. The Notes may not be offered, sold, pledged or otherwise transferred directly or indirectly within the United States or to, or for the account or benefit of, U.S. Persons.

 This announcement is not directed at retail clients (as defined in the Product Intervention (Contingent Convertible Instruments and Mutual Society Shares) Instrument 2015 of the Financial Conduct Authority of the United Kingdom) in the European Economic Area ("*EEA*"). The Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the EEA. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "*MiFID II*"); or (ii) a customer within the meaning of Directive 2002/92/EC, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently no key information document required by Regulation (EU) No 1286/2014 (the "*PRIIPs Regulation*") for offering or selling the Notes or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation.

 Solely for the purposes of each manufacturer's product approval process, the target market assessment in respect of the Notes has led to the conclusion that: (i) the target market for the Notes is eligible counterparties and professional clients only, each as defined in MiFID II; and (ii) all channels for distribution of the Notes to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Notes (a "*distributor*") should take into consideration the manufacturers' target market assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the Notes (by either adopting or refining the manufacturers' target market assessment) and determining appropriate distribution channels. 

The information provided in this release and any offer materials relating to the Notes are addressed to and directed only at persons in the United Kingdom in circumstances where Section 21(1) of the Financial Services and Markets Act 2000 as amended, does not apply and are solely directed at persons in the United Kingdom who (a) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "*Order*") or (b) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc") of the Order, or (c) other persons to whom they may be lawfully communicated (all such persons together being referred to as "*relevant persons*"). This release is directed only at relevant persons and any person who is not a relevant person must not act or rely on this document or any of its contents. Reported by GlobeNewswire 29 minutes ago.

Australia, who won the toss and batted on an easy-paced pitch, were 225 for five when bad light ended play four overs before the second new ball was due. Reported by Zee News 6 minutes ago.

More than 57 000 illegal firearms including a rocket launcher and machine guns have been handed in during Australia's recent amnesty in which gun owners were able to surrender such weapons without penalty. Reported by News24 22 minutes ago.

JOHNS CREEK, Ga., March 01, 2018 (GLOBE NEWSWIRE) -- Ebix, Inc. (NASDAQ:EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, e-governance and healthcare industries, today reported fiscal 2017 fourth quarter (Q4 2017) and full year results for the periods ended December 31, 2017. Ebix will host a conference call to review its results tomorrow, Friday March 2^nd at 11:00 a.m. EST (details below).Ebix delivered the following results for the fourth quarter and full year of 2017:

*Revenue:* Total Q4 2017 revenue rose 31% to $104.7 million, compared to $80.0 million in Q4 2016 and increased 13% over Q3 2017 revenue of $92.8 million.

Full year 2017 revenue rose 22% to $364.0 million, compared to $298.3 million in 2016. Exchanges including the EbixCash operations in India, continued to be Ebix’s largest channel, accounting for 79% of the Company's Q4 2017 and 71% of full year 2017 Revenue.

*(dollar amounts in thousands)* * *   * * * *
*Channel* *Q4 2017* *Q4 2016* *Change*   *2017*   *2016* *Change*
Exchanges $ 82,353 $ 55,003 +50 % $ 259,470 $ 206,427 +26 %
Broker Systems   3,576   3,451 +4 %   14,674   14,105 4 %
Risk Compliance Solutions (RCS)   18,052   20,707 -13 %   86,832   74,196 17 %
Carrier Systems   700   885 -21 %   2,995   3,566 -16 %
*Total Revenue* *$* *104,681* *$* * 80,046* +31 % *$* * 363,971* *$* * 298,294* +22 %
* * * *   * *       * *   * *      
*Total Revenue on Constant Currency Basis* $ 102.9M $ 80.0M +29 % $ 360.0M $ 298.3M  +21 %
 

*Earnings per Share:*  Q4 2017 diluted EPS increased 11% to $0.84 from $0.76 in Q4 2016. Full year 2017 diluted EPS increased 11% to $3.17 from $2.86 in 2016. The improvements reflect higher net income and the benefit of previous share repurchase activity.

*Operating Cash:* Cash generated from operations decreased 13% to $26.7 million in Q4 2017, compared to $30.7 million in Q4 2016. Cash generated from operations decreased 8% to $76.8 million in 2017, compared to $83.7 million in 2016.

*Operating Income and Margins:* Q4 2017 operating margins were 32%, a decrease over Q4 2016 margins of 35%. Operating income for Q4 2017 rose 20% to $33.1 million compared to $27.7 million in Q4 2016.

Full year 2017 operating margins were at 31%. Operating income for 2017 rose 13% to $113.2 million as compared to $100.3 million in 2016.

*Net Income**: *Q4 2017 net income rose 8% to $26.6 million, compared to $24.6 million in Q4 2016. Net income increased 7% to $100.6 million in 2017, compared to $93.8 million in 2016.

*Share Outstanding and Repurchases:* Ebix made no repurchases of its common stock in Q4 2017, and repurchased 687,048 shares of its common stock for cash consideration of $39.4 million in the full year 2017. Reflecting its repurchase activity, Ebix’s weighted average diluted shares outstanding decreased to 31.7 million in Q4 2017 compared to 32.5 million in Q4 2016 and decreased to 31.7 million in 2017 compared to 32.9 million in 2016.

*Q1 & Q2 2018 Diluted Share Counts:* Based on share repurchases completed to date, Ebix expects its diluted share count to be approximately 31.7 million in Q1 2018 and Q2 2018.

*Dividend:* Ebix paid its regularly quarterly dividend of $0.075 per share in Q4 2017 for a total cost of $2.4 million.

Ebix Chairman, and CEO Robin Raina said, “Our record 2017 results mark Ebix’s 18th consecutive year of revenue and EPS growth for the Company, supported by a strong finish to the year especially from EbixCash with record revenue and EPS in Q4 2017. With an annualized revenue run rate of $418 million, Ebix has a strong foundation from which to conquer new frontiers in terms of revenues, operating margins and EPS.”

Robin added, “We started the year 2017 primarily as an insurance exchange, and have finished the year with a strong presence in the financial exchange sector also through our EbixCash brand in India. Ebix’s Q4 2017 performance did not include full quarter revenues from the recent acquisition of Paul merchant remittance assets, or include any revenues from the recent acquisition of Transcorp, and only a few hundred thousand of revenues from our e-governance division which typically has a quarterly run rate of $6 million. Notwithstanding these factors, Q4 2017 revenues from India operations and the EbixCash Financial Exchange translate to an annualized run rate of $127 million and $125 million respectively. Accordingly, we are encouraged by the momentum we have generated in these businesses in a short time.

“We are also pleased to have achieved 32% operating margins in Q4 2017, especially considering that the quarter had many non-recurring acquisition related costs. Once we have fully implemented all our acquisition integration and efficiency related measures, we expect the margins to improve from this level.”

Robin added, “We are in advance stages of review on several acquisition opportunities that have the potential to make material contributions to our 2018 results if we are able to complete these transactions on the contemplated terms. Also, we have executed a number of large new business contracts that are expected to start contributing to our top line in 2018. As a result of our strong business development activity and pipeline, combined with expected organic growth across the business, we believe Ebix is well positioned for another solid year in 2018.”

Sean Donaghy, Ebix’s CFO said “Ebix continues to produce robust operating cash flows, generating $26.7 million during Q4 of 2017 and $76.8 million during 2017. Our financial position remains strong with $89.5 million in aggregate cash, cash equivalents, and short-term cash deposit investments. Combined with available borrowing of $246 million under our syndicated bank facility, Ebix presently has access to approximately $331 million of capital to support continued organic and acquisitive growth as well as dividends and opportunistic share repurchases.”

*Conference Call Details:*

Call Date/Time: Friday, March 2, 2018 at 11:00 a.m. EST

Call Dial-In: +1-877-837-3909 or 1-973-409-9690; Call ID #1064759

Live Audio Webcast: www.ebix.com/webcast

Audio Replay URL: www.ebix.com/result_17_Q4 after 2:00 p.m. EST on Mar 2^nd*About Ebix, Inc.*

With 50+ offices across 5 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to provide On-Demand software and E-commerce services to the insurance, financial and healthcare industries. In the Insurance sector, the Company’s main focus is to develop and deploy a wide variety of insurance and reinsurance exchanges on an on-demand basis, while also, providing Software-as-a-Service ("SaaS") enterprise solutions in the area of CRM, front-end & back-end systems, outsourced administrative and risk compliance, across the world.

With a "Phygital” strategy that combines 231,500 physical distribution outlets in many Southeast Asian Nations (“ASEAN”) countries to an Omni-channel online digital platform, the Company’s EbixCash Financial exchange portfolio encompasses leadership in areas of domestic & international money remittance, travel, pre-paid & gift cards, utility payments, etc., in an emerging country like India.  EbixCash, through its travel portal Via.com, is also one of Southeast Asia’s leading travel exchanges with over 110,000 distribution outlets and 8,000 corporate clients processing over 24.5 million transactions every year

Through its various SaaS-based software platforms, Ebix employs thousands of domain-specific technology professionals to provide products, support and consultancy to thousands of customers on six continents.  For more information, visit the Company’s website at

*SAFE HARBOR REGARDING FORWARD-LOOKING STATEMENTS*

As used herein, the terms “Ebix,” “the Company,” “we,” “our” and “us” refer to Ebix, Inc., a Delaware corporation, and its consolidated subsidiaries as a combined entity, except where it is clear that the terms mean only Ebix, Inc.

The information contained in this Press Release contains forward-looking statements and information within the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. This information includes assumptions made by, and information currently available to management, including statements regarding future economic performance and financial condition, liquidity and capital resources, acceptance of the Company’s products by the market, and management’s plans and objectives. In addition, certain statements included in this and our future filings with the Securities and Exchange Commission (“SEC”), in press releases, and in oral and written statements made by us or with our approval, which are not statements of historical fact, are forward-looking statements. Words such as “may,” “could,” “should,” “would,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “seeks,” “plan,” “project,” “continue,” “predict,” “will,” “should,” and other words or expressions of similar meaning are intended by the Company to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are found at various places throughout this report and in the documents incorporated herein by reference. These statements are based on our current expectations about future events or results and information that is currently available to us, involve assumptions, risks, and uncertainties, and speak only as of the date on which such statements are made.

Our actual results may differ materially from those expressed or implied in these forward-looking statements. Factors that may cause such a difference, include, but are not limited to those discussed in our Annual Report on Form 10-K and subsequent reports filed with the SEC, as well as: the risk of an unfavorable outcome of the pending governmental investigations or shareholder class action lawsuits, reputational harm caused by such investigations and lawsuits, the willingness of independent insurance agencies to outsource their computer and other processing needs to third parties; pricing and other competitive pressures and the Company’s ability to gain or maintain share of sales as a result of actions by competitors and others; changes in estimates in critical accounting judgments; changes in or failure to comply with laws and regulations, including accounting standards, taxation requirements (including tax rate changes, new tax laws and revised tax interpretations) in domestic or foreign jurisdictions; exchange rate fluctuations and other risks associated with investments and operations in foreign countries (particularly in Australia and India wherein we have significant operations); equity markets, including market disruptions and significant interest rate fluctuations, which may impede our access to, or increase the cost of, external financing; and international conflict, including terrorist acts.

Except as expressly required by the federal securities laws, the Company undertakes no obligation to update any such factors, or to publicly announce the results of, or changes to any of the forward-looking statements contained herein to reflect future events, developments, changed circumstances, or for any other reason.

Readers should carefully review the disclosures and the risk factors described in the documents we file from time to time with the SEC, including future reports on Forms 10-Q and 8-K, and any amendments thereto.

You may obtain our SEC filings at our website, www.ebix.com under the “Investor Information” section, or over the Internet at the SEC’s web site, www.sec.gov. 

 
 
*Ebix, Inc. and Subsidiaries*
*Consolidated Statements of Income*
(In thousands, except per share data)
 
  *Three Months Ended* * * *Twelve Months Ended*  
  *December 31,* * * *December 31,*  
  *2017* * * *2016* * * *2017* * * *2016*  
* * *(Unaudited)* * * *(Unaudited)* * * *(Unaudited)* * * *(Audited)*    
*Operating revenue* *$* *104,681*   * * *$* *  80,046*   * * *$* *363,971*   * * *$* *298,294*    
                     
*Operating expenses:*                    
Cost of services provided 38,438     22,522     129,494     85,128    
Product development 8,551     8,068     33,854     32,981    
Sales and marketing 3,991     4,467     16,303     17,469    
General and administrative (net) 17,820     14,670     59,976     51,689    
Amortization and depreciation 2,800     2,658     11,123     10,746    
*Total operating expenses* 71,600     52,385     250,750     198,013    
                 
*Operating income* *33,081*   * * *27,661*   * * *113,221*   * * *100,281*    
Interest income 97     632     1,711     1,851    
Interest expense (4,345 )   (1,995 )   (13,383 )   (7,376 )  
Non-operating income – (loss) —     —     —     1,162    
Foreign currency exchange gain (loss) (894 )   (839 )   1,811     13    
*Income before income taxes* *27,939*   * * *25,459* * * * * *103,360** *   * * *95,931** *    
Income tax expense (414 )   (516 )    (777 )   (1,637 )  
Net income including noncontrolling interest
27,525     24,943     102,583     94,294    
Net income attributable to noncontrolling interest 952     314     1,965     447    
*Net income attributable to Ebix, Inc.* *$* *26,573*   * * *$* *24,629*   * * *$* *100,618*   * * *$* *93,847*    
* *   * * * *     * * * *  
*Basic earnings per common share* *$* *0.84*   * * *$* *0.76*   * * *$* *3.19*   * * *$* *2.88*    
* * * * * * * * * * * * * * * *  
*Diluted earnings per common share* *$* *0.84*   * * *$* *0.76*   * * *$* *3.17*   * * *$* *2.86*    
                 
Basic weighted average shares outstanding 31,470     32,279     31,552     32,603    
                     
Diluted weighted average shares outstanding 31,656     32,483     31,719     32,863    
                         
                         

*Ebix, Inc. and Subsidiaries*
*Consolidated Balance Sheets*
 
  *December 31,
 2017*   *December 31,
 2016*
               
  *(In thousands, except share and per share amounts)*
*ASSETS*      
*Current assets:*      
Cash and cash equivalents $ 63,895     $ 114,118  
Short-term investments 25,592     3,105  
Restricted cash 4,040     —  
Fiduciary funds- restricted 8,035     14,394  
Trade accounts receivable, less allowances of $4,143 and $2,833, respectively 117,838     62,713  
Other current assets 33,532     12,716  
*Total current assets* *252,932*     *207,046*  
Property and equipment, net 41,704     37,061  
Goodwill 666,863     441,404  
Intangibles, net 45,711     41,336  
Indefinite-lived intangibles 42,055     30,887  
Capitalized software development costs, net 8,499     5,955  
Deferred tax asset, net 43,529     31,345  
Other assets 11,720     8,721  
*Total assets* *$* *1,113,013*     *$* *803,755*  
*LIABILITIES AND STOCKHOLDERS’ EQUITY*      
*Current liabilities:*      
Accounts payable and accrued liabilities $ 75,073     $ 30,461  
Accrued payroll and related benefits 8,201     7,474  
Cash overdraft 9,243     —  
Fiduciary funds- restricted 8,035     14,394  
Short term debt, net of deferred financing costs of $136 14,364     12,364  
Contingent liability for accrued earn-out acquisition consideration 4,000     1,921  
Current portion of long term debt and capital lease obligation 17     9  
Deferred revenue 22,562     22,564  
Current deferred rent 278     281  
Other current liabilities 5,159     244  
*Total current liabilities* *146,932*     *89,712*  
Revolving line of credit 274,529     154,029  
Long term debt and capital lease obligation, less current portion, net of deferred financing costs of $298 and $452, respectively 110,978     105,824  
Contingent liability for accrued earn-out acquisition consideration 33,096     6,589  
Deferred revenue 1,423     1,886  
Long term deferred rent 638     1,009  
Other liabilities 11,658     6,070  
*Total liabilities* *579,254*     *365,119*  
*Commitments and Contingencies*      
       
*Stockholders’ equity:*      
Convertible Series D Preferred stock, $.10 par value, 500,000 shares authorized, no shares issued and outstanding at December 31, 2017 and 2016 —     —  
Common stock, $.10 par value, 60,000,000 shares authorized, 31,476,428 issued and outstanding at December 31, 2017 and 32,093,294 issued and outstanding at December 31, 2016 3,148     3,209  
Additional paid-in capital 1,410     —  
Retained earnings 510,975     457,364  
Accumulated other comprehensive loss (24,023 )   (33,677 )
*Total Ebix, Inc. stockholders’ equity* *491,510*     *426,896*  
Noncontrolling interest) 42,249     11,740  
*Total stockholders' equity* *$* *533,759*     *$* *438,636*  
*Total liabilities and stockholders’ equity* *$* *1,113,013*     *$* *803,755*  
               
               

*Ebix, Inc. and Subsidiaries*
*Consolidated Statements of Cash Flows*
 
  *Year Ended
December 31,
2017*   *Year Ended
December 31,
2016*   *Year Ended
December 31,
2015*
                       
  *(in thousands)*
*Cash flows from operating activities:*          
Net income attributable to Ebix, Inc. $ 100,618     $ 93,847     $ 79,533  
Net income attributable to noncontrolling interest 1,965     447     —  
*Adjustments to reconcile net income to cash provided by operating activities:*          
Depreciation and amortization 11,123     10,746     10,634  
Provision for doubtful accounts 1,713     1,515     3,111  
Provision for deferred taxes, net of acquisitions and effects of currency translation (13,667 )   (6,410 )   (10,143 )
Unrealized foreign exchange (gain)/losses 1,387     32     (1,743 )
Gain on investment interest in IHC/Ebix joint venture —     (1,162 )   —  
Amortization of capitalized software development costs 2,175     1,116     —  
Share-based compensation 2,818     2,794     1,821  
Debt discount amortization on convertible debt —     —     17  
Reduction of acquisition earn-out contingent liability (164 )   (1,344 )   (1,533 )
Reduction of rent expense as a result of purchase accounting adjustment
(948 )   —     —  
*Changes in current assets and liabilities, net of acquisitions:*          
Accounts receivable (34,245 )   (12,659 )   (7,320 )
Other assets (2,133 )   (1,034 )   (3,834 )
Accounts payable and accrued expenses 8,906     (3,703 )   (19,895 )
Accrued payroll and related benefits (3,979 )   170     (60 )
Deferred rent (413 )   (234 )   (656 )
Reserve for potential uncertain income tax return positions 5,879     490     95  
Liability – securities litigation settlement —     —     (690 )
Other liabilities 252     (3,039 )   1,111  
Deferred revenue (4,480 )   2,176     (1,762 )
*Net cash provided by operating activities* *76,807*     *83,748*     *48,686*  
*Cash flows from investing activities:*          
Investment in Paul Merchants (37,398 )   —     —  
Investment in Via, net of cash acquired (67,835 )   —     —  
Investment in Wall Street (6,970 )   —     —  
Investment in YouFirst, net of cash acquired (9,657 )   —     —  
Investment in beBetter (1,000 )   —     —  
Investment in ItzCash, net of cash acquired (69,301 )   —     —  
Payment of acquisition earn-out contingency, Qatarlyst (1,921 )   —     —  
Funding of escrow account for possible future contingent earn-out payment related to business acquisition (4,040 )   —     —  
Investment in Hope Health —     (1,643 )   —  
Investment in Wdev, net of cash acquired —     (6,320 )   —  
Investment in Via Media Health, net of cash acquired —     —     (1,000 )
Investment in P.B. Systems, net of cash acquired —     —     (11,475 )
Investment in EbixHealth JV, net of cash acquired —     (696 )   (6,000 )
Purchases of marketable securities —     (2,115 )   (1,435 )
Maturities of marketable securities 1,201     —     —  
Capitalized software development costs (2,805 )   (3,988 )   (3,489 )
Capital expenditures (7,385 )   (5,977 )   (13,994 )
*Net cash used in investing activities* *(207,111* *)*   *(20,739* *)*   *(37,393* *)*
*Cash flows from financing activities:*          
Proceeds from / (Repayment) to line of credit, net 120,500     (52,436 )   86,000  
Proceeds from term loan 20,000     125,000     —  
Principal payments on term loan obligation (13,000 )   (6,250 )   (642 )
Cash overdraft 6,162     —     —  
Repurchase of common stock (45,732 )   (59,784 )   (81,653 )
Payments of long term debt —     (600 )   —  
Payments for capital lease obligations (11 )   (5 )   (10 )
Excess tax benefit from share-based compensation —     —     463  
Proceeds from exercise of common stock options 52     824     2,209  
Forfeiture of certain shares to satisfy exercise costs and the recipients income tax obligations related to stock options exercised and restricted stock vested (398 )   (998 )   (2,202 )
Dividends paid (9,545 )   (9,829 )   (10,472 )
*Net cash provided (used) by financing activities* *78,028*     *(4,078* *)*   *(6,307* *)*
Effect of foreign exchange rates on cash and cash equivalents *$* *2,053*     *$* *(1,992* *)*   *$* *(107* *)*
*Net change in cash and cash equivalents* (50,223 )   56,939     4,879  
Cash and cash equivalents at the beginning of the year $ 114,118     $ 57,179     $ 52,300  
*Cash and cash equivalents at the end of the year* *$* *63,895*     *$* *114,118*     *$* *57,179*  
Interest paid   12,552       7,219       5,379  
Income taxes paid   10,426       16,634       28,637  

 CONTACT: CONTACT:
Darren Joseph                                                                                                           
678 -281-2027 or IR@ebix.com

David Collins, Chris Eddy
Catalyst Global - 212-924-9800 or ebix@catalyst-ir.com Reported by GlobeNewswire 16 minutes ago.