Paris, 27 April 2018, 0:40 AM

*PRESS RELEASE*

*ERAMET Group: ERAMET announces takeover offer for Mineral Deposits Limited*

· All-cash takeover offer of A$1.46 per MDL share
· ERAMET has acquired a relevant interest in 13.3% of MDL from some of the largest MDL shareholders
· Compelling opportunity for MDL shareholders to realise certainty of value
· Attractive 33% premium to the one-month Volume Weighted Average Price of A$1.10 per MDL share
· Limited conditionality, no funding or due diligence conditions
· Enables the full consolidation of the TiZir mineral sands joint venture within ERAMET's portfolio

ERAMET has today announced that it proposes to make an off-market takeover offer (*Offer*) to acquire all of the issued shares in Mineral Deposits Limited (*MDL*) that it does not already own for A$1.46 cash per share (*Offer Price*). This is an all-cash transaction that values the equity of MDL (on a fully diluted basis) at approximately A$291 million^[1].

As part of the Offer, ERAMET has acquired a relevant interest in 13.3% of MDL shares from key institutional shareholders of MDL. This includes the acquisition of 8.0% via outright purchases at the same price as the Offer Price and the execution of a pre-bid acceptance agreement in relation to an additional 5.3% of MDL.

ERAMET and MDL each hold a 50% interest in the TiZir joint venture, which operates an integrated mineral sands (titanium dioxide and zircon) business in Senegal and Norway.

The Offer is intended to enable the full consolidation of the joint venture after its formation in 2011.

*Compelling offer for MDL shareholders*

The Offer Price represents an attractive premium to MDL's historical trading prices. Based on the price of the MDL shares up to and including 26 April 2018 (being the last trading day prior to this announcement), the Offer Price represents a premium of:

· 26% to A$1.16, the last closing price of MDL shares;
· 33% to A$1.10, the one-month Volume Weighted Average Price (*VWAP*) of MDL shares;
· 30% to A$1.13, the three-month VWAP of MDL shares; and
· 37% to A$1.07, the six-month VWAP of MDL shares.     

This premium is being provided to MDL shareholders after the MDL share price has experienced recent substantial growth, including 119% in the year up to and including 26 April 2018. Accordingly, the Offer Price also represents a premium of 248% to MDL's capital raising price of 42 cents per share in March 2017.

In addition, the Offer provides MDL shareholders with cash certainty compared to the uncertainty of remaining an MDL shareholder, given the volatility of mineral sands markets, TiZir's high financial leverage and MDL's limited trading liquidity. Furthermore, MDL has not reported an annual net profit in over five years and has not paid a dividend since it commenced trading as MDL on the ASX in 1999.

Christel Bories, Chairman and Chief Executive Officer of ERAMET, commented,

"We are convinced that our Offer is a unique opportunity for MDL shareholders. The Offer provides certainty of value at a genuinely attractive cash price for MDL shares.

For ERAMET, this is a logical step, in line with the Group's strategy, that consolidates the ownership of the TiZir asset within its portfolio at a time when the Group has improved financial flexibility. Given the nature of TiZir and the mineral sands industry, we believe that the TiZir asset would be best placed being wholly-owned within a larger, diversified portfolio such as ERAMET's. It is the right move done at the right time."

*Funding*

ERAMET intends to finance the Offer using ERAMET's existing cash reserves. These funds are immediately available and in excess of the aggregate Offer consideration and associated transaction costs.

*Limited conditions and no funding or due diligence condition*

The Offer is subject to limited conditions, including a 50.01% minimum acceptance condition. The Offer is not subject to any funding or due diligence conditions, and the approval of the Australian Foreign Investment Review Board (*FIRB*) has already been received.

The conditions of the Offer are set out in the Bidder's Statement, which is being announced today to the ASX and will also be available on the ERAMET website at www.eramet.com/en. A full list of these conditions is also set out in Attachment 1 to this announcement.      

*Timetable and next steps*

ERAMET will today provide a copy of the Bidder's Statement to the Australian Securities and Investments Commission and MDL. The Bidder's Statement contains detailed information relating to the Offer, including the key reasons to accept the Offer and instructions on how to accept the Offer.  It is expected that the Bidder's Statement will be sent to MDL shareholders, and the Offer will open for acceptance, in 14 - 28 days after the date of this announcement.

*Advisers*

ERAMET has engaged Macquarie Capital as financial adviser and Herbert Smith Freehills as legal adviser in relation to the Offer.

------------------------

*ABOUT ERAMET*

ERAMET is one of the leading global producers of:

· manganese and nickel, used to improve the properties of steel, and mineral sands (titanium dioxide and zircon)
· as well as parts and semi-products in high-performing special steels and alloys used in industries such as aerospace, power generation and tooling.

ERAMET is also developing activities with high-growth potential, such as lithium extraction and recycling.

The Group employs nearly 12,600 people in around 20 countries. ERAMET is part of Euronext Paris Compartment A.

*LEI code: 549300LUH78PG2MP6N64*

*For more information: *www.eramet.com

*Follow us with the ERAMET Finance mobile app:*

IOS: https://itunes.apple.com/fr/app/eramet-finance/id1115212055?mt=8

Android: https://play.google.com/store/apps/details?id=com.eramet.finance

*FINANCIAL ADVISER TO ERAMET* *MEDIA CONTACT*
*Australia
*Macquarie Capital*
*Campbell Johnson
+612 8232 9224

* *

* *

*INVESTOR CONTACT*

 

*France
*ERAMET Investor Relations team*
*Tel: +33 1 45 38 38 12
Mobile: +33 6 08 91 34 24 *Australia*
Domestique
Jim Kelly
+61 412 549 083
jim@domestiqueconsulting.com.au

 

*France*
Image7
Marie Artzner  Lauranne Guirlinger
+33 6 75 74 31 73  +33 6 48 26 21 73
martzner@image7.fr  lguirlinger@image7.fr

 

 
* *  
   

*Attachment 1 - Bid Conditions*

*(a)              **Minimum acceptance*

Before the end of the Offer Period, Eramet has a relevant interest in such number of Shares which represent at least 50.01% of all the Shares (on a fully diluted basis).

**(b)              **No regulatory action**

Between the Announcement Date and the end of the Offer Period (each inclusive):

*(1)              there is not in effect any preliminary or final decision, order or decree issued by any Public Authority;*

*(2)              no action or investigation is announced, commenced or threatened by any Public Authority; and*

*(3)              no application is made to any Public Authority (other than by Eramet or any associate of Eramet),*

in consequence of or in connection with the Offer (other than an application to, or a decision or order of, ASIC or the Takeovers Panel in exercise of the powers and discretions conferred by the Corporations Act) which restrains, prohibits or impedes, or threatens to restrain, prohibit or impede, or materially impact upon, the making of the Offer and the completion of any transaction contemplated by the Bidder's Statement (including, without limitation, full, lawful, timely and effectual implementation of the intentions set out in the Bidder's Statement) or which requires the divestiture by Eramet of any Shares or any material assets of an MDL Group Member.

**(c)              **No material adverse change**

*(1)              Between the Announcement Date and the end of the Offer Period (each inclusive) none of the following occurs:*

*(A)              an event (including that any litigation is commenced, threatened to be commenced or announced or that any Public Authority sends or issues a demand, tax assessment or other notice claiming an amount for or seeking to impose liability upon any MDL Group Member or the occurrence of any adverse regulatory action by a Public Authority including actions that result in the loss of any mining or other rights by any MDL Group Member), change, condition, matter or thing occurs or will or is reasonably likely to occur;*

*(B)              information is disclosed or announced by MDL concerning any event, change, condition, matter or thing that has occurred or is reasonably likely to occur; or*

*(C)              information concerning any event, change, condition, matter or thing that has occurred or is reasonably likely to occur becomes known to Eramet (whether or not becoming public),*

(each of (A), (B) and (C), a *Specified Event*) which, whether individually or when aggregated with all such events, changes, conditions, matters or things of a like kind that have occurred or are reasonably likely to occur, has had or would be considered reasonably likely to have:

*(D)             a material adverse effect on the business, assets, liabilities, financial or trading position, profitability or prospects of the MDL Group taken as a whole;*

*(E)              without limiting the generality of section (c)(1)(D):*

· the effect of a diminution in the value of the consolidated net assets of the MDL Group, taken as a whole, by at least A$10 million against what it would reasonably have been expected to have been but for such Specified Event;
· the effect of a diminution in the value of the consolidated net assets of the TiZir Group, taken as a whole, by at least A$20 million against what it would reasonably have been expected to have been but for such Specified Event; or
· the effect of a diminution in the value of the consolidated earnings before interest, tax, depreciation and amortisation of the TiZir Group, taken as a whole, by at least A$8 million in any financial year of the TiZir Group against what it would reasonably have been expected to have been but for such Specified Event,

                                           other than:

*(F)              matters, events or circumstances occurring with the prior written consent of Eramet or which MDL disclosed in an announcement made to the ASX prior to the Announcement Date; or*

*(G)             general changes in economic or business conditions (including changes in currency exchange rates). *

*(2)              For the purposes of section (c)(1), Eramet shall not be taken to know of information concerning any event, change, condition, matter or thing before the Announcement Date, unless the magnitude of the event, change, condition, matter or thing has been disclosed by MDL in its public filings with the ASX before the Announcement Date.*

**(d)              **Acquisitions, disposals** and other matters**

Between the Announcement Date and the end of the Offer Period (each inclusive), other than as approved by Eramet's nominees on the board of TiZir Limited and recorded in board minutes or resolutions, no MDL Group Member:

*(1)              acquires or disposes of, or enters into or announces any agreement for the acquisition or disposal of, any asset or business, or enters into any corporate transaction, which would or would be likely to involve a material change in the manner in which the MDL Group conducts its business or the nature (including balance sheet classification), extent or value of the assets or liabilities of the MDL Group (taken as a whole);*

*(2)              without limiting section (d)(1):*

*(A)              makes any change to its constitutional documents;*

*(B)              commences business activities not already carried out as at the Announcement Date, whether by way of acquisition or otherwise;*

*(C)              acquires, leases, disposes of, or agrees to acquire, lease or dispose of, any business, assets, entity or undertaking, the value of which exceeds A$5 million (individually or in aggregate);*

*(D)             enters into any contract or commitment (including in respect of financial indebtedness) requiring payments by the MDL Group in excess of A$3 million (individually or in aggregate) other than any payment required by law; *

*(E)              agrees to incur capital expenditure from the Announcement Date of more than A$500,000 (individually or in aggregate);*

*(F)              accepts as a compromise of a matter less than the full compensation due to a member of the MDL Group where the financial impact of the compromise on the MDL Group is more than A$500,000 (individually or in aggregate);*

*(G)             provides financial accommodation other than to members of the MDL Group (irrespective of what form of financial indebtedness that accommodation takes) in excess of A$200,000 (individually or in aggregate);*

*(H)              enters into any agreement, arrangement or transaction with respect to derivative instruments (including, but not limited to, swaps, futures contracts, forward commitments, commodity derivatives or options) or similar instruments;*

*(I)                enters into, or resolves to enter into, a transaction with any related party of MDL (other than a related party which is a member of the MDL Group), as defined in section 228 of the Corporations Act;*

*(J)              enters into or materially alters, varies or amends any employment, consulting, severance or similar agreement or arrangement with one or more of its officers, directors, other executives or employees, or accelerates or otherwise materially increases compensation or benefits for any of the above, provided that the aggregate of all increases in compensation or benefits is no greater than A$100,000; or*

*(K)              pays any of its directors or employees a termination or retention payment, other than in accordance with contractual arrangements in effect on the Announcement Date and which have been publicly disclosed; or*

*(3)              authorises, commits, agrees or announces an intention to do any of the matters set out above.*

**(e)              **No prescribed occurrences**

Between the Announcement Date and the date that is 3 Business Days after the end of the Offer Period (each inclusive), none of the following prescribed occurrences (being the occurrences listed in section 652C of the Corporations Act) happen:

*(1)              MDL converting all or any of the Shares into a larger or smaller number of shares under section 254H of the Corporations Act;*

*(2)              an MDL Group Member resolving to reduce its share capital in any way;*

*(3)              an MDL Group Member entering into a buyback agreement or resolving to approve the terms of a buyback agreement under subsections 257C(1) or 257D(1) of the Corporations Act;*

*(4)              an MDL Group Member making an issue of shares (other than Shares issued as a result of the exercise, conversion or vesting of Performance Rights which are on issue at the Announcement Date or the 2018 Performance Rights) or granting an option over its shares or granting any rights that are convertible into share(s) or agreeing to make such an issue or grant such an option or right (other than granting of the 2018 Performance Rights);*

*(5)              an MDL Group Member issuing, or agreeing to issue, convertible notes;*

*(6)              an MDL Group Member disposing or agreeing to dispose, of the whole, or a substantial part, of its business or property;*

*(7)              an MDL Group Member granting, or agreeing to grant, a Security Interest in the whole, or a substantial part, of its business or property;*

*(8)              an MDL Group Member resolving that it be wound up;*

*(9)              the appointment of a liquidator or provisional liquidator of an MDL Group Member;*

*(10)            the making of an order by a court for the winding up of an MDL Group Member;*

*(11)            an administrator of an MDL Group Member being appointed under section 436A, 436B or 436C of the Corporations Act;*

*(12)            an MDL Group Member executing a deed of company arrangement; or*

*(13)            the appointment of a receiver, receiver and manager, other controller (as defined in the Corporations Act) or similar official in relation to the whole, or a substantial part, of the property of an MDL Group Member.*

*           *           *

*Definition and Interpretation*

In the Bid Conditions unless the context otherwise requires, the following terms have the meanings shown below:

*Term* *Meaning*
*$ or A$ * Australian dollars, the lawful currency of the Commonwealth of Australia.
*2018 Performance Rights * up to 702,689 unlisted performance rights proposed to be issued by MDL under the MDL Performance Rights Plan, further details of which are set out in MDL's notice of annual general meeting released to the ASX on 23 April 2018.
*Announcement Date * the date of this announcement.
*ASIC* the Australian Securities and Investments Commission.
*ASX* as the context requires, ASX Limited ABN 98 008 624 691 or the securities market conducted by it.
*Bidder's Statement * the statement of Eramet under Part 6.5 Division 2 of the Corporations Act relating to the Offer.
*Business Day * a day on which banks are open for business in Sydney, excluding a Saturday, Sunday or public holiday.
*Corporations Act * the Corporations Act 2001 (Cth).
*Eramet* Eramet SA, French company incorporated under the Companies Registry of Paris under number 632 045 381.
*MDL* Mineral Deposits Limited ABN 19 064 377 420.
*MDL Group* MDL and each of its Subsidiaries and the TiZir Group and MDL Group Member means any member of the MDL Group.
*MDL Performance Rights Plan* the performance rights plan approved by MDL shareholders on 20 May 2016 as amended by MDL shareholders on 4 May 2017.
*Offer * the offer for Shares under the terms and conditions contained in section 9.7 of the Bidder's Statement
*Offer Period * the period during which the Offer will remain open for acceptance in accordance with section 9.2 of the Bidder's Statement.
*Performance Right* the unlisted performance rights granted by MDL under the MDL Performance Rights Plan, being, as at the Announcement Date, 2,338,209 unlisted performance rights.
*Public Authority* any government or any governmental, semi governmental, statutory or judicial entity, agency or authority, whether in Australia or elsewhere, including (without limitation) any self regulatory organisation established under statute or otherwise discharging substantially public or regulatory functions, and ASX or any other stock exchange.
*Security Interest* has the same meaning as in section 51A of the Corporations Act.
*Shares or MDL Shares* fully paid ordinary shares in the capital of MDL.
*TiZir Limited* TiZir Limited, a private limited company registered in the Register of Companies for England and Wales under company number 07727671.
*TiZir Group* TiZir Limited, TiZir Titanium & Iron AS, Grande Côte Operations SA and each of TiZir Limited's Subsidiaries and TiZir Group Member means any member of the TiZir Group.
^[1] Based on total issued shares of 196,985,649 and performance rights of 2,338,209 as at the date of this announcement.

*Attachment*

· announces takeover offer for Mineral Deposits Limited.pdf Reported by GlobeNewswire 2 hours ago.

Millennium Services Group Ltd (ASX: MIL) has been awarded a contract with Vicinity Centres Ltd (ASX:VCX), a vertically integrated real estate trust. Vicinity specialises in the management of shopping centres and owns more than 100 centres in Australia. Consequently, this contract win is an important development for Millennium from both a revenue-generating perspective and with regard to strengthening its profile. Millennium provides security services The contract involves management of a varying range of security services, including crowd control, asset protection and mobile patrol services across 26 assets in three states. The contract will commence on June 1, 2018, and is expected to make a significant contribution to Millennium’s earnings in fiscal 2019. Further promising news emerged as the company advised that it had signed a multi-location contract with Apple Inc. (NASDAQ:AAPL). Millennium will provide cleaning and hygiene services to 15 Apple stores across five states and the Australian Capital Territory. Assists in meeting goal of 30% of revenue from security services Chief executive officer Craig Hanley said: “The nature of these contract wins validates our strategy to build and grow a diversified national integrated services business. “Millennium’s growth potential in security is now being realised and we are delighted to extend our long-term relationship with Vicinity Centres. "The Vicinity contract win supports our medium-term strategic objective of 30% of total revenues being generated from the security services sector.” Success in New Zealand as opportunities grow Hanley said that the contract wins were a result of increased tendering activity, including strategic gains within the retail security and health cleaning sectors in New Zealand. The success achieved provides confidence in converting the significant pipeline of opportunities into sustainable long-term future growth. Reported by Proactive Investors 2 hours ago.

The 2021 Champions Trophy, scheduled to be held in India, will be converted into a World T20 meet, the ICC confirmed. With one World T20 already slated for 2020 in Australia, there will now be two T20 world championships in successive years (2020 and 2021). Reported by IndiaTimes 1 hour ago.

Carlie Smith is a long way removed from the time she quit basketball as she battled "severe depression and extreme anxiety" in her late teens. Reported by Brisbane Times 52 minutes ago.

Kin Mining NL (ASX:KIN) has appointed the highly-experienced Andrew Munckton as chief executive officer. As a geologist and holder of numerous executive roles with a wide range of mining companies, Munckton will be valuable in shaping the group’s strategy. Management said that he would be instrumental in driving the company’s exploration program and realising its development ambitions for the Leonora Gold Project. Extensive experience Chairman Jeremy Kirkwood said: “Andrew’s extensive experience in leading executive teams, operating successful gold mines, project management, gold exploration and corporate strategy give the board complete confidence that he is the right person to be the CEO of Kin Mining.” Most recently, Munckton was managing director of a junior gold and base metals exploration and development company, Syndicated Metals Limited (ASX:SMD). His recent focus at Syndicated has been on leading the acquisition and exploration of the Monument Gold Project in Western Australia. This project is adjacent to Dacian Gold’s (ASX:DCN) Mount Morgans gold mine. Strategic involvement in large developments Munckton has held executive roles at Avalon Minerals, Gindalbie Metals (ASX:GBG) and Placer Dome Asia Pacific. He was also general manager of the high profile Kanowna Belle and Kundana gold mines, now owned by Northern Star Resources (ASX:NST). Reported by Proactive Investors 35 minutes ago.

Lithium Australia NL (ASX:LIT) is nearing completion of the design for a cutting-edge large-scale pilot plant to demonstrate its SiLeach® hydrometallurgical process. The plant is aimed at demonstrating the SiLeach® process to extract lithium and by-products at commercial scale from lithium micas. Front-end engineering and design (FEED) activities are progressing as planned and are scheduled for completion in the September quarter of 2018. READ: Lithium Australia NL identifying feed for large-scale SiLeach pilot plant Detailed metallurgical test work is demonstrating improved lithium recovery. This work is further enhancing the SiLeach® flowsheet and the potential to produce high-quality fertiliser as a by-product is enhancing project economics. Managing director Adrian Griffin said: “The FEED study is advancing well and the improvements in lithium recovery are very encouraging. “We’re pleased with the increase in confidence around by-product recovery, which is an important aspect of the SiLeach® revenue stream. “We believe it will allow us to produce lithium chemicals from minerals but at the same low unit cost as that of the brine producers.” No roasting required The SiLeach® process is a halide-accelerated, sulphuric acid digestion system, operated at atmospheric pressure. No roasting is required, significantly reducing the energy footprint when compared with conventional lithium extraction technology. The process also benefits from a range of potential by-product credits. Study shows SiLeach benefits Lithium Australia is building the large-scale pilot plant (LSPP) after a preliminary feasibility study demonstrated the ability of the process to recover lithium chemicals and valuable by-products. In many instances, lithium micas previously recovered during mining activities have been consigned to tailings dams and mine dumps as waste, due to a lack of metallurgical processing technology. SiLeach® has the potential to unlock these resources economically. Plant construction a key step Construction of the LSPP is a key step in proving SiLeach® at a commercial scale. Flotation test work on samples of lepidolite. At full production SiLeach® will facilitate the production of high-quality lithium chemicals from abundant non-brine mineral resources at a cost similar to those of brine producers. This will be done without the environmental risks associated with conventional roasting or large evaporation ponds. READ: Lithium Australia able to separate lithium using ore-sorting technology Planning is underway for a laboratory-scale pilot trial at ANSTO Minerals of the anticipated LSPP feed composition, using concentrates generated from the target sources. Intended to confirm final flowsheet selection and impurity removal unit processes, the trial should further reduce the risk profile of the LSPP and augment existing bench-scale test work results. Offtake discussions The laboratory-scale trial will generate enough lithium chemicals to provide product samples for potential offtake partners, those samples being representative of the commercial product. Griffin said: "Preliminary discussions with potential offtake partners have been encouraging. “Our planned laboratory-scale pilot run, while aimed primarily at finalising the flowsheet for construction, will generate significant amounts of lithium chemical product for testing by potential offtake partners.” Reported by Proactive Investors 19 minutes ago.

Watch 19-year-old Riley McGree score a spectacular "scorpian" goal in Newcastle Jets' 2-1 A-League semi-final victory over Melbourne City at the McDonald Jones Stadium. Reported by BBC Sport 11 hours ago.

                                                                                                                                                  

April 27, 2018

*JSC Olainfarm Concludes Year 2017 With The Highest Turnover Of The Company's History And Expands Globally*

*Audited consolidated financial statement of JSC Olainfarm for 2017 shows that the sales of the Group exceeded 122 million euros.  This represents an increase by 10% compared to sales of 2016 and is by far the largest turnover in the company's history. The profit of Olainfarm Group last year reached 10.8 million euros. *

*The company has successfully expanded its export by adding new markets and selling its products now to 66 countries worldwide. Russia, Latvia, Ukraine and Belarus remain the largest product markets. *

*Together with the consolidated financial data, JSC Olainfarm this year also submitted for the first time a non-financial report, which informs about the company's environmental and social responsibility, quality management and corporate governance practice. The non-financial report is based on the Nasdaq ESG guidelines for the Nordic and Baltic markets.*

Turnover growth was mostly ensured by the increase in sales of subsidiaries, as the sale of the Parent company in 2017 actually remained at the level of year 2016, increasing by a half percentage point.

The company has added 4 new markets to its product geography in 2017 and commenced sales in Argentina, Colombia, Hong Kong and Romania. In total, the Group exported its products to more than 60 countries worldwide.

In 2017, the share of Russia in total sales increased from 34% to 35%, while due to the changing economic situation, the sales in Ukraine decreased from 13% to 10%. Decline in sales volumes has been also experienced in Great Britain, while significant growth by 103% was reached in Germany, the Netherlands (+ 57%) and Belarus (+ 21%).

In 2017 JSC Olainfarm has successfully completed the registration of its products in Latvia, Kyrgyzstan, Armenia, Azerbaijan and Moldova. Registration processes are still ongoing in Nepal, Armenia, Turkey, Myanmar, Cameroon and Vietnam.

The best sold products of the Parent company in 2017 were CNS medicines Neiromidin, Noofen and Adaptol, antibacterial preparations of Furamag and Furasol, antiarrhythmic medicine Etacizin, antituberculosis products PASS Sodium salt and antiallergic medicine Fenkarol.  

A slight change over the year has occurred in the proportion of the most sold products. The proportion of soluble Furagin products has increased from 13% to 15%, the share of Etacizin has increased from 8% to 10%, while the proportion of PASS Sodium Salt has decreased from 8% to 5%. The list of 10 the most-selling pharmaceutical products has remained unchanged.

The Annual meeting of shareholders of JSC Olainfarm on June 1, 2017 approved operating plan of the Group for 2017. According to it, sales of the Group in 2017 were planned to be 127 million euros, the parent company's turnover was expected to reach 96 million euros, while net profit - 15.5 million euros. Taking into account the unsatisfactory profitability in the third quarter, the company's board reviewed its 2017 earnings outlook, stating that the expected 2017 consolidated and non-consolidated profit is 9 million euros with potential to increase it to 10 million euros. According to the financial results of the consolidated financial statements, the Group's annual sales plan is executed at 96%, while the revised Group's annual profit plan is overflowing by 8%.  The Parent company’s sales target is executed at 95%, while the profit plan is fulfilled by 93%.

* *

*Condensed Consolidated Statement of Financial Position* *Group* *Parent company*
    *31.12.2017* *31.12.2016* *31.12.2017* *31.12.2016*
    *EUR '000* *EUR '000* *EUR '000* *EUR '000*
  *  ASSETS*        
*NON-CURRENT ASSETS*        
Intangible assets   37 034   31 860   2 243   2 253
Property, plant and equipment   41 892   40 943   35 643   35 402
Investment properties   3 526   1 963   323   -
Financial assets   2 609   6 514   48 669   45 322
  TOTAL NON-CURRENT ASSETS *  85 061 * *  81 280 * *  86 878 * *  82 977 *
*CURRENT ASSETS*        
Inventories   24 161   24 011   17 551   17 447
Receivables   34 049    36 124   31 586   32 531
Cash   3 158   3 165   1 989   2 163
  TOTAL CURRENT ASSETS *  61 368 * *  63 300 * *  51 126 * *  52 141 *
*TOTAL ASSETS* *  146 429 * *  144 580 * *  138 004 * *  135 118 *
       
  *  EQUITY AND LIABILITIES*        
*EQUITY*        
Share capital   19 719   19 719   19 719   19 719
Share premium   2 504   2 504    2 504   2 504
Other components of equity   (74)   322   40   322
Retained earnings   75 675   74 081   73 268   73 012
Non-controlling interests   -   37   -   -
  TOTAL EQUITY *  97 824 * *  96 663 * *  95 531 * *  95 557 *
*LIABILITIES*        
*Non-current liabilities*        
Borrowings   15 878   18 800   14 805   17 777
Deferred corporate income tax   -   3 025   -   1 278
Deferred income   2 347   2 810   2 309    2 706
  Total Non-Current Liabilities *  18 225 * *  24 635 * *  17 114 * *  21 761 *
*Current liabilities*        
Borrowings   14 013   7 020   13 247   6 362
Trade payables and other liabilities   15 892   15 769   11 714   11 039
Deferred income   475   493   398   399
  Total Current Liabilities *  30 380 * *  23 282 * *  25 359 * *  17 800 *
  TOTAL LIABILITIES *  48 605 * *  47 917 * *  42 473 * *  39 561 *
*TOTAL EQUITY AND LIABILITIES* *  146 429 * *  144 580 * *  138 004 * *  135 118 *

*Consolidated statement of comprehensive income* *Group* *Parent company*
  *2017* *2016* *2017* *2016*
  *EUR '000* *EUR '000* *EUR '000* *EUR '000*
Net revenue   122 076   110 693   91 713   91 096
Cost of goods sold   (47 231)   (40 855)   (30 441)   (29 678)
Gross Profit    74 845   69 838   61 272   61 418
Selling expense   (38 125)   (31 733)   (29 329)   (25 336)
Administrative expense   (23 653)   (19 735)   (20 170)   (18 020)
Other operating income   2 697   3 080   2 342   2 363
Other operating expense   (4 427)   (9 766)   (4 564)   (10 675)
Share of profit of an associate   113   63   -   -
Income from investments in subsidiaries   -   -   1 619   27
Financial income   236   3 479   299   3 355
Financial expense   (2 299)   (307)   (1 930)   (285)
Profit Before Tax   9 387   14 919   9 539   12 847
Corporate income tax   (1 977)   (2 883)   (1 547)   (2 564)
Deferred corporate income tax   3 379   (450)    1 278   (643)
*PROFIT FOR THE REPORTING PERIOD* *  10 789 * *  11 586 * *  9 270 * *  9 640 *
Other comprehensive loss for the reporting period   (114)   -   -   -
*Total comprehensive income for the reporting period* *  10 675 * *  11 586 * *  9 270 * *  9 640 *
Total comprehensive income attributable to:        
The equity holders of the Parent Company   10 675   11 579   9 270   9 640
Non-controlling interests   -   7   -   -
         
Basic and diluted earnings per share, EUR   0.77   0.82   0.66   0.68

--------------------

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with 45 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company's operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 50  countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
        
         Salvis Lapins
         JSC Olainfarm
         Member of the Management Board
         Rupnicu iela 5, Olaine, Latvia, LV 2114
         Phone: +371 6 7013 717
         Fax: +371 6 7013 777
         E-mail: Salvis.Lapins@olainfarm.lv

*Attachments*

· OlainfarmZinojums_ENG
· Olainfarm_2017_Consolidated and Parent FS_ENG Reported by GlobeNewswire 11 hours ago.

Apr 27 (OPTA) - Scores from the European Tour Volvo China Open on Friday -9 Matt Wallace (England) 65 70 -8 Nacho Elvira (Spain) 69 67 Sihwan Kim (Korea Republic) 70 66 Jason Scrivener (Australia) 67 69 -7 Jorge Campillo (Spain) 69 68 Julien Guerrier (France) 68 69 SooMin Lee (Korea Republic) 68 69 Adrian Otaegui (Spain) 68 69 -6 Nino Bertasio (Italy) 65 73 Alexande Reported by Reuters India 10 hours ago.

PARIS (AP) — Fresh from his visit to Washington, French President Emmanuel Macron is planning a 5-day trip next week to Australia and New Caledonia, a French territory in the South Pacific. The president’s office said on Friday that Macron will seek closer cooperation on defense during his visit to Australia that starts May 1. […] Reported by Seattle Times 9 hours ago.

PARIS (AP) — Fresh from his visit to Washington, French President Emmanuel Macron is planning a 5-day trip next week to Australia and New Caledonia, a French territory in the South Pacific.The president's office said on Friday that... Reported by New Zealand Herald 10 hours ago.

Scientists say identifying hidden species may have profound benefits, but time is limited. Reported by BBC News 10 hours ago.

As institutional capital in the crypto space increases regularly, the need for blockchain technology and related enterprise support is at an all-time high, and several companies are working hard to provide both as the arena expands.One of those companies is Coefficient Ventures, a crypto fund set on financing blockchain systems worldwide. Thus far, the company has made over 25 investments in companies and applications like Filecoin for decentralized storage; Raiden for scalability; and Zeppelin to improve smart contract capabilities.

Speaking with Bitcoin Magazine, founding partner Chance Du described how she sees a central role for blockchain investment across all sectors of the global economy.

The global financial industry features significant flaws in its current design. Two billion of the world’s people have virtually no access to financial services, while an additional four billion have very limited access. Du says she began investing in blockchain technology in 2017 because she believes it can remove these barricades and allow for a “more accessible and democratized” financial infrastructure.

“The internet has been an extraordinary conduit for uploading, exchanging and disseminating information,” she explains. “However, until 2009, if you wanted to go and exchange value online, there was no way to do that. Whether it was data, money, the title to your car or home, you had to do it in a way that didn’t involve legacy institutions such as banks, governments and clearing houses. With blockchain technology, people can have bank accounts in their pockets. They no longer need these legacy institutions that have kept so many consumers out. Blockchain technology offers a value protocol which allows for the frictionless exchange of value.”

Hoping to assist businesses that can remove financial pain points from our monetary systems, Coefficient Ventures also offers extensive start-up support. Its current advisory portfolio includes projects like TomoChain, which seeks to build blockchain and crypto-based partnerships between national markets; IoTeX, a decentralized network for the Internet of Things; and Havven, a payment network and stable coin system based in Australia. Du says the next step involves collecting capital from accredited investors to fund these projects and incentivizing contributors to “build tools and services” to facilitate them.

As with all business enterprises, challenges have emerged that have made it hard for start-up VCs to stay on track. Du notes that the financial industry is a relatively saturated space, with hundreds of crypto funds and traditional VC funds joining the “ICO investing race” every day. Competition is extremely fierce, and carving out the right business strategies isn’t always easy.

Regulation and the constant changes it presents has also made things difficult. Du says one of her main goals is to see the cryptocurrency arena thrive and she recognizes the necessity to adhere to ever-changing regulations in order to bring further legitimacy to the space.

“We must keep a close eye on every country’s regulatory environment and adjust our strategies accordingly,” Du says. “Token exchange listings, for example, are directly affected by regulatory shifts. Many exchanges are not allowed to list any new tokens during strict regulatory days, and we’ve had to find alternatives for fund liquidity.”

One strategy that has worked for Du involved turning to decentralized exchanges or DEXs. Users’ own wallets are utilized to transfer and collect funds, and transactions are published directly on the blockchain, thus eliminating several risks one might encounter through centralized platforms.

“We are also considering tokenizing our own fund, but we must be cautious to remain in compliance with the SEC,” she continued. “I think the whole world is watching the moves of the SEC. They’ve proven quite adequate when it comes to dealing with emerging technologies like cryptocurrencies. I believe once the SEC has figured out how to treat crypto, other countries will mirror its moves, but right now, governments don’t seem to understand them well enough yet.”

While hostility still seems to exist toward digital assets, Du suggests legislative systems will eventually adapt to become more accepting. She even compares cryptocurrency to Uber, which in the beginning, she states, was the object of speculation amongst those who felt it was breaking certain legal barriers.

“Uber got tons of legal challenges in the beginning, and it drove regulation once it was adopted by the masses,” she explained. “The demand of Uber from the public was so high that the local laws were forced to adapt. The same will happen for cryptocurrency.”

In the end, Du believes that blockchain and digital assets present advantages often missing from traditional finance mechanisms.

“Traditional VCs have burdens in the new game because of the old investing philosophies they carry,” she says. “Things don’t work the same way, anymore. Compared to traditional VCs, new crypto funds move fast and understand the underlying value of crypto projects.”

This article originally appeared on Bitcoin Magazine. Reported by Bitcoin Magazine 9 hours ago.

Australia’s Securities and Investments Commissioner has spoken of updated regulatory guidelines for cryptocurrencies and ICOs #NEWS Reported by The Cointelegraph 9 hours ago.

PITTSBURGH, April 27, 2018 (GLOBE NEWSWIRE) -- NEP Australia, the country’s leading provider of outside broadcast and studio solutions and a division of NEP Group, and Telstra Broadcast Services, a leading global broadcast services business, have achieved a milestone in broadcast television, delivering the world’s first remote production across the Pacific.

The successful trial was conducted over four days this week between NEP’s centralised, IP (internet protocol) and multi-format production facility at the Sydney Andrews Hub and Telstra’s Los Angeles datacentre – more than 7500 miles (12,000+ km) apart – using ultra-low-latency compression technology and Telstra’s Distributed Production Network (DPN).

30 HD camera feeds in LA were linked via diverse and hitless 10 gigabyte-per-second circuits on the Telstra DPN, which has recently been extended to Los Angeles, with the production taking place in Sydney, overcoming what until now was considered an insurmountable distance.

The tests confirm that the Andrews Hub control rooms in Sydney can efficiently produce broadcast events held in Los Angeles and, arguably, beyond.

NEP Australia’s Director of Technology, Marc Segar, said: “This is a game-changer for broadcast television, proving anyone can work from anywhere while connected to our network, whether in Australia or on the other side of the planet. 
“Our crew at the Sydney Andrews Hub perceived no appreciable difference between covering the trial event in LA and the remote broadcast of a live A-League match from Perth last month.”

Trevor Boal, Head of Telstra Broadcast Services, said: “From the moment NEP approached us about building the Telstra Distributed Production Network to support the Andrews Hubs, we shared their excitement about the enormous possibilities of broadcasting over IP.

“NEP had a clear vision of how distributed production could deliver an optimal commercial and practical outcome, and we wanted to be part of it. As our network capacity and reach continues to grow, it’s conceivable we could traverse global distances uncompressed in just a few years.”

Segar continued: “It’s exciting to think of the options and flexibility our technology offers to the industry.

“We chose to trial HD, however, we could just as easily have trialled 4K or HDR. Our IP and multi-format hub environment is agnostic to format or compression technologies.”

The 60 HD feeds (30 in both Sydney and Los Angeles) encompassed all the automation and control signals.

Resources, including replay, were fully shared between the two sites, with the replay operator in Los Angeles controlling servers at the Sydney Hub, where production took place.

Telstra provided the redundant 10 Gb +10 Gb trans-Pacific circuit as a natural extension of its Australia-wide Telstra Distributed Production Network (DPN).

VC-2 was used as the lightweight and ultra-low-latency compression technology because it adds no delay.

This makes high definition or UHD/4K over distance viable cost-wise, as there is no appreciable difference in delay compared to uncompressed video.

Round trip latency was only 136 milliseconds, less than 2 frames in each direction.

The successful trans-Pacific trial is just the start of NEP’s extensive program to trial other locations around the world, including Japan and the UK.

# # #

Background on NEP Australia’s Andrews Hubs
The Andrews Hubs are the most technically advanced facilities of their scale in the world. Using an internet protocol (IP) backbone and multi-format production capabilities, the Sydney and Melbourne Hubs enable multiple concurrent outside broadcasts. Remote production allows cameras and microphones to be located at the venue, with the majority of the production team based at the Hubs. There, central control facilities can accomodate up to six simultaneous events, connecting with 29 sporting venues via the Telstra Distributed Production Network. This creates considerable savings in crew travel time, as well as efficiencies arising from centralised and inter-Hub resource sharing for everything from equipment through to disaster recovery capabilities.

About NEP Australia
NEP is Australia’s largest and most experienced outside broadcast and studio facilities company, providing broadcast infrastructure for major sport and studio productions across the country and internationally. NEP facilitates more than 2,000 hours of Australian broadcast television each year, including live sport (NRL, AFL, Cricket, MotoGP, Australian Formula 1 Grand Prix), popular series and drama (My Kitchen Rules, The Voice, Family Feud, The Chase, Australian Ninja Warrior) and live entertainment and event programs (Dancing with the Stars, The Footy Show and the annual Logie awards). The company is also internationally recognised for its technical expertise in host broadcasting and major events, managing complex projects including the 2018 Gold Coast Commonwealth Games, 2014 G20 Leaders’ Summit, and 2014 Glasgow Commonwealth Games. NEP Australia is wholly owned by NEP Group Inc.

More information at  https://www.nepgroup.com.au/    https://www.nepgroup.com/About NEP
For over 30 years, NEP has been a worldwide outsourced technical production partner supporting premier content producers of live sports, entertainment, music and corporate events. Our services include remote production, studio production, audio visual solutions, host broadcast support, premium playout, post production and innovative software-based media management solutions. NEP’s 3,000+ employees are driven by a passion for superior service and a focus on technical innovation. Together, we have supported productions in over 85 countries on all seven continents.

NEP is headquartered in the United States and has offices in 23 countries. Learn more at nepgroup.com.
CONTACT: Susan Matis
NEP Group, Inc.
412-423-1339
press@nepgroup.com Reported by GlobeNewswire 10 hours ago.

Luxemburg, 27^th April 2018

PRESS RELEASE

*VELCAN: ANNUAL RESULTS 2017*
*DECLINE OF REVENUES AND EBITDA, FINANCIAL PERFORMANCE AFFECTED BY USD FALL*
*STEADY COMMITMENT TO INDIAN HYDROPOWER PROJECTS DESPITE SLOWER PROGRESS THAN EXPECTED*

  * 2017 * * 2016 * *Var %*
Revenues (EUR m) *3.1* *3.7* *-15%*
EBITDA (EUR m) *-1.7* *-0.2* *-638%*
Net Income (EUR m) *-9.6* *-1.4* *-604%*
Shareholders' Equity (EUR m) *123* *133* *-8%*
Cash and Financial assets *101* *105* *-4%*
Market Capitalization *65* *78* *-17%*
Concession Portfolio *657 MW* *723 MW* *-9%*
Book Value per Share (EUR)
(Net Outstanding Equity) *19.7* *22.2* *-11%*
Shares Outstanding net of Treasury shares ('000) *6,226* *6,014* *+4%*

During 2017, VELCAN continued its efforts towards the development of its hydropower concessions located in India (cascade of 571 MW). Techno-Economic, Environmental and Forest clearances being in place, and most site investigations being completed, VELCAN focused on the other main milestones which are the land acquisition, the transport infrastructure, the amendment of the concession agreements and the stage 2 Forest Clearance. These activities, instrumental to the projects' implementation, are under the purview of the State and Central Governments, which make them dependent on the political willingness to support hydropower. They have not progressed as expected during the year 2017 despite the fact the projects of the Group have been selected by the Ministry of Power for a special support and follow-up in early 2016. For example, the new National Hydropower Policy is still under discussion and it appears it may include in the short term only a list of projects identified as immediately ready to build or under construction. VELCAN follows closely such activities and provides support to Government entities whenever possible. Despite the long term potential of the Indian power market and the intrinsic techno-economic quality of its projects, the Company has decided to book a provision of Eur 2.2 Million (-16%) on the intangible value of the Indian projects in order to reflect the accumulated delays and the current low visibility on the implementation schedule.
VELCAN fully divested its two main Indonesian hydropower projects (Meureubo 2 HEP 59 MW and Sukarame HEP 7 MW, with a positive impact of EUR 3 Million on FY2017), as its portfolio in this country had faced significant regulatory and administrative impediments since FY 2016.

The operation of the Rodeio Bonito plant faced one of the most severe drought in years in Brazil, which affected significantly sales of electricity net of the payments to the MRE (Energy Reallocation Mechanism) during FY2017 (EUR 1.5m, -46%).

VELCAN also continued to manage actively its treasury by diversifying its financial investments portfolio during the year, but it was impacted by the important fall of the USD against the EURO (approximately EUR 10m forex losses impacted the financial result), despite a good performance of these investments at constant exchange rates.

*FINANCIAL YEAR 2017 - MANAGEMENT COMMENTS ON THE BUSINESS*

*In India*, the Group kept pushing the development of the hydroelectric concessions obtained in 2007 in the State of Arunachal Pradesh.

The team carried on field studies and investigations at site. The detailed tender design level topographical surveys of project components and internal project roads has been completed for Heo HEP and Tato-1 HEP intake site and roads during the year. Additional drilling required by CEA at Tato-1 trench weir has been completed in April 2017. The sedimentation studies and hydrological measurements have also been continued.

The land acquisition procedure, for which application was submitted in June 2016, is led by the local government. Progress was made during the year, although at a slow pace. The govt. appointed Social Impact Assessment unit has conducted onsite site surveys in September 2017. The SIA and Social Impact Management Plan (SIMP) draft reports have been completed and submitted to the district administration in December 2017. The public hearings required by the regulations in order to discuss the SIA and the SIMP with the local public have been held successfully in all the 8 concerned villages on 23^rd and 24^th of January 2018. Such SIA & SIMP reports will be reviewed by the State Government to determine whether the concerned land is recommended for acquisition. Meanwhile, the District Administration will initiate the procedure to establish the land revenue registry and to collect the consent of at least 80% of the land owners. Considering most of the land is disputed between clans or within the same clans, the Group expects this procedure to be complicated. Administrative issues related to Land status are currently still the most sensitive and significant issues, which may slow down development of the projects, and their outcome cannot be predicted.

As per the current concession agreements, such process and land ownership disputes settlement are the responsibility of the licensing Government. The concession contract provides for an extension of the development period in case of any delay which is not the responsibility of the developer. Negotiations for, amongst other things, such an extension of the concession with the Government of Arunachal Pradesh have not made significant progress during the year.

The timely availability of appropriate road infrastructure is also an important issue that VELCAN has been attending throughout the year with the Central Government with some progress, although the scheduled dates of completion of the roads upgrade are still falling in 2022. The budgets for realizing the works allowing to prepone such date have been prepared by the Ministry of Defense, but they have not yet been sanctioned.

The Central Government has taken steps to revive and support the power sector, such as the UDAY scheme. The UDAY scheme has been launched in late 2015 and is now adhered to by most electricity distribution companies (DISCOMS, the 32 distribution companies which purchase electricity in bulk from generators and sell it to the final consumers). It aims at improving the financial health of the DISCOMS by refinancing their balance sheets, in exchange notably of efforts to improve the distribution grids and to increase their purchase of power. The Government is also discussing a possible new hydropower policy which, as per our knowledge, should entail financial incentives to generators, such as interests' subsidies, and incentives to the DISCOMS for them to purchase hydropower. It appears such new policy, still under discussion, will be restricted for now to a list of designated hydropower projects to be commissioned within 5 years of the policy (meaning projects already under construction or ready to start immediately construction). VELCAN is following up closely the evolution of these frameworks, but the effects of the UDAY scheme on the hydropower PPAs market is yet to be seen. Despite these positive initiatives, as of December 2017, the commercial and financial market conditions are indeed not yet fulfilled for the sale of private hydropower, as the market remained constrained by both the still bad financial health of DISCOMS and the absence of proper regulatory framework allowing the sale of power through long term bankable PPAs.

Velcan remains convinced of the inherent competitive techno-economic features of its projects, such as their levellized tariffs and their low environmental impact, and the long term potential of the Indian power market. However, in view of the uncertainties of the implementation timeframe and the delays accumulated, the Company has decided to book a provision of Eur 2.2 Million (16%) on the intangible value of the Indian projects. A detailed status of each ongoing project activity is reported in the annual management report available on the company's website.

*In Brazil*, the Rodeio Bonito Hydropower plant (15 MW) recorded a production of  41,321 MWh MWh in 2017,  24.6% below the 2016 generation (54,801 MWh) since a severe drought hit again Brazil in 2017. After several years of an extreme drought that had affected the country since 2012, precipitation levels had normalized from June 2015 to October 2016, but they have fall down to very low levels again in 2017. As a consequence, payments by Velcan for the MRE (Energy Reallocation Mechanism) were EUR 1.3m in 2017 vs only EUR 0.3m in 2016. The operating and financial performance of the plant in local currency was also impacted by lower sale prices when Power Purchase Agreements (PPAs) contracts were renewed in early 2017 with gross electricity sales reaching EUR 3.1m vs EUR 3.7m in 2016 (in Brazilian Real - BRL 11.2m vs BRL 14.1m in 2016).

*In Indonesia*, the Group has sold the Meureubo 2 HEP (59 MW) and the Sukarame SHP (7 MW) which were stalled by administrative issues, including the unavailability of satisfactory PPAs.  The third Project of the Group in Indonesia is the Redelong HEP (18 MW). Given the general uncertain context for hydropower projects in Indonesia, the project was fully impaired in 2016, and it remains the case as of 31/12/2017. The size of the Redelong project (18 MW) does not economically justify full operations in the country and the Group is looking for potential partners and investors for taking over the lead development in the Redelong projects.

*Financial Assets, cash and cash equivalents*: as it has done since 2005, and very actively since 2008, the Group has kept managing its treasury to cover the operational costs and provide financial returns in excess of the risk free central bank rates. The Group has invested over the years in an extremely diversified array of financial assets including mostly : corporate and government bonds in local and reserve currencies, equities, derivatives, direct lending and private equity investments.

In 2017, the group main investments have been in corporate bonds again. The exposure has gradually increased from EUR 28.9 m at the beginning of the 2016 year to EUR 46.0 m at 2016 year end and 49.9 m at 2017 year end. The group is mainly exposed to issuers in the BBB and BB categories (as defined by Standard's and Poor). The maturities span a wide range. Although the majority is less than 6 years, some bonds have more than 30 year maturities. A few are of perpetual nature. In 2017 the group invested in majority in USD bonds, from issuers coming both from developed markets and emerging markets. At year end the biggest lines of the Group are with the following issuers : JBS (Brazil), CMA CGM (France), Comcel trust (Guatemala), Olam (Singapore), NORDDEUTSCHE LANDESBANK GIROZENTRALE (Germany), Zurich Insurance (Switzerland), Bluescope Steel (Australia), Israel Electric Corp (Israel), NIPPON LIFE INSURANCE CO (Japan) and the republic of Argentina. These bond investments have performed very well in 2017 at constant exchange rates but the Group has suffered from the US dollar weakening. The Group has invested in bonds since 2008 and has only suffered one default (OI/Brazilian telco operators) in its history of bond investments. This default has costed the group EUR 0.3 m. This loss is materially less that the extra gain that the group has derived from investing in bonds compared to staying in cash. The fact that the Group has suffered little from defaults in the past is no predictor that it will not do so in the future. The level of spreads has decreased a lot recently and offers less downside protection than before.

As of December 2017, the Group had also private investments worth EUR 6.2m including private equity (EUR 1.1m) and direct lending (EUR 5.1m). Almost half of Private equity and direct lending investment are in the shipping sector. Given the recent poor performance of this sector these investments have contributed negatively to the performance of the Group in 2016 and 2017. The Group is actively monitoring these investments to try to maximize their value.

As of December 2017, the Group had investments worth EUR 1.5 m in listed equities and EUR 4.8 m in equity funds and hedge funds. The Group believes the current equity markets provide no sufficient reward vs the risks entailed by their level. Were the situation to change, the Group may reinforce significantly its investments in listed equity.

As of December the Group financial assets were mostly exposed to the US Dollars.

Finally a significant part of the treasury of the Group was kept as of December 2017 in cash or cash equivalents (EUR 37.5m). Given the current level of interest rates these deposits provide little financial revenues despite a small increase in 2017.

*FINANCIAL YEAR 2017 - MANAGEMENT COMMENTS ON THE FINANCIAL STATEMENTS*

*Income Statement:*

Turnover was EUR 3.1m (against EUR 3.7m in 2016, a 15% decrease), and comes from electricity sales in Brazil. The turnover in Reais (BRL) decreased by 20%, due to a slight reduction in Rodeio Bonito's ensured energy and a lower sale price of the short term PPAs renewed in early 2017.

Net Financial Income for the group amounted to EUR -4.2m in 2017 because of the USD depreciation (-14% compared to end of 2016) and its impact on the Group's cash and financial assets position  despite good financial performance on VELCAN's investments excluding forex. This loss compares to a gain of EUR 5.9m in 2016. The forex loss impact was EUR -10m. The bond portfolio performance generated the biggest part of the financial result excluding Forex. The performance of this portfolio was good. On an average of EUR 51m invested during the year, the net gain was EUR 5.3m. The biggest contributors to this result were the bonds of the issuers Ethias, Atradius, Areva and Zurich Insurance.

Current operating results amounted to EUR -7.8m (against -6.7m 2016). Additional charges paid to the MRE (Ensured Energy Mechanism - see detailed report) by the Rodeio Bonito plant amounted to EUR 1.3m due to very low precipitation levels in 2017, while depreciation of the Indian projects under development amounted to EUR 2.3m (EUR 5.6m in 2016 on Indonesian projects). Staff expenses increase was due to a new compensation plan despite it had no impact on cash and on equity (impact of EUR 2.5m on the net result).

In 2017, other operating income consisted mainly of divestment gains on Indonesian assets while the costs were fully impaired in 2016 (EUR 3.0m of gain). No significant other operating Income was generated during 2017 financial year.

The net result is EUR -9.6m in 2017 FY compared to EUR -1.4m in 2016 FY.

The Group's EBITDA (earnings before interests, taxes, depreciation and amortization) reached EUR -1.7m compared to EUR -0.2m in 2016.

The depreciation of Brazilian Real and Indian Rupee when compared to Euro, at 2017 closing date, has negatively impacted the other comprehensive income as the Group's main investments (tangible and intangible) have been done in local currency (EUR -3.4m in 2017 against EUR 3.8m in 2016). The total comprehensive income amounts to EUR -13.0m in 2017 against EUR 2.5m in 2016.

*Balance sheet:*

Net intangible assets are down by EUR 2.7m versus 2016, mainly because of depreciation on Indian assets due to uncertainties and repeated delays faced on those projects. Tangible assets decreased by EUR 2.6m between 2016 and 2017, mainly because the Rodeio Bonito Hydro power Plant being booked in BRL currency, foreign exchange impact on retranslation of the Rodeio Bonito power plant resulted in a EUR 1.7 loss (EUR 2.7 m gain for 2016 FY).

Cash, cash equivalent assets and financial assets have decreased from EUR 105m in 2016 to EUR 101m in 2017 (-4%) because of the USD depreciation.

Finally total assets decreased by 8% during 2017 FY (down by EUR 10.9 m).

Own shares, booked directly against Equity of the Group at their historical cost, reduce the net shareholder's equity of the Group by EUR -3.2m versus EUR -15.2m at 31^st December 2016 following the cancellation of 1.200.000 shares.

As at 31^st December 2017, unrealized losses on conversion reserves, booked directly against Equity amounted to EUR -7.8m versus an unrealized loss of EUR -4.3m at 31st December 2016, mainly because of the BRL depreciation.

With a consolidated equity of EUR 122.8m (-EUR 10.5m compared to 2016), the Group has no significant debt as of 31^st December 2017. Various provisions, payables and financial instrument liabilities amount to EUR 2.9m (stable vs 2016).

*Foreseeable evolution of the Group:*

After the closing of this financial year, the Group is pursuing the following main objectives as a priority for FY 2018:

· Pursuing the development of the Indian projects and finding a lead investor for the Redelong Project in Indonesia;
· Continue the diversification of its investments;

*          *          *

Investor Relations Contact: investor@velcan.lu

The complete annual report and financial statements are available on the company's website

*Appendix next page: SUMMARY FINANCIAL STATEMENTS*

*SUMMARY FINANCIAL STATEMENTS*

*Balance Sheet*

*ASSETS (EUR '000)* *2017* *2016*
*NON-CURRENT ASSETS* *29 413* *32 289*
 Intangible Assets 13 862 16 551
Tangible Assets^[1] 10 315 12 893
Non-Current Financial Assets 5 236 2 506
Other Non-Current Assets - 339
*CURRENT ASSETS* *96 282* *103 808*
 Current Financial Assets 57 869 48 190
Cash and Cash Equivalents 37 536 54 449
Other Current Assets 877 1 169
*TOTAL ASSETS* *125 694* *136 098*

*LIABILITIES (EUR '000)* *2017* *2016*
Equity (Group Share) 122 770 133 301
Minority interests 21 (35)
*TOTAL EQUITY* *122 790* *133 266*
*NON-CURRENT LIABILITIES* *1876* *1 883*
*CURRENT LIABILITIES* *1 028* *948*
Bank Debt - -
*TOTAL LIABILITIES* *125 694* *136 098*

*Income Statement*
*(EUR '000)*

  *2017* *2016*
*Revenues* *3 112* *3 711*
*Amortizations, depreciations and Provisions* *(3 135)* *(6 425)*
*Ordinary Operating Result* *(7 791)* *(6 668)*
*Operating Result* *(4 831)* *(6 655)*
*Net Financial Income (Loss)* *(4 159)* *5 863*
*Tax Income (Expense)* *(576)* *(566)*
*Income - Minority Share* *55* *(93)*
*Net Income - Group Share* *(9 621)* *(1 265)*
*EBITDA* *(1 696)* *(230)*

*About Velcan:*

Velcan is a Luxemburg headquartered investment holding company founded in 2005, operating as an independent power producer in emerging countries and managing a global portfolio of financial assets.

The company owns and operates one 15MW hydro power plant in Brazil that it developed and built in 2009. Its major power project under development is a cascade of hydropower concessions located in India and totalling 571 MW. The Group also has a smaller project of 18MW in Indonesia.

Hydropower concessions provide long periods of cash generation but their development outcome is uncertain and many years are needed to bring these projects to maturity in emerging countries: it involves field studies in remote places, obtaining the necessary authorizations and permits, and land acquisition in political and regulatory environments that can be unstable or heavily hampering. Meanwhile Velcan actively manages its treasury, investing in listed financial instruments and private equity deals.

Velcan's headquarters are in Luxemburg, with administrative and financial offices in Singapore and Mauritius. The team dedicated to the development of the Indian hydropower cascade is based in New Delhi and at the project site (Arunachal Pradesh).

The company was launched more than 10 years ago by its reference shareholder Luxembourg Hydro Power SA, owned by Velcan's management team.

Velcan is listed on the Paris Euronext Growth Stock Market (Euronext Growth/Ticker ALVEL/ISIN FR0010245803).

Velcan never performed any Public Offer as understood under Directive 2003/71/CE of the European Parliament and Council.

*Disclaimer *This press release contains prospective information about the potential of the projects in progress and/or of the projects of which the development has begun. This information constitutes objectives attached to projects and shall not be construed as direct or indirect net income forecast of the concerned year. Reader's attention is also drawn on the fact that the performance of these objectives depends on future circumstances and that it could be affected and/or delayed by risks, known or unknown, uncertainties, and various factors of any nature, notably related to economic, commercial or regulatory conjuncture, which occurrence could be likely to have a negative impact on future activity and performances of the Group.

This announcement does not constitute a public offering ("offre au public") nor an invitation to the public or to any qualified investor in connection with any offering. This announcement is not an offer of securities in the United States of America or in any other jurisdiction/country.
^[1] Almost exclusively constituted of the Rodeio Bonito Hydro Power Plant asset

*Attachment*

· Velcan 2017 Results PR.pdf Reported by GlobeNewswire 9 hours ago.

SILICON SLOPES, Utah, April 27, 2018 (GLOBE NEWSWIRE) -- Domo®, the cloud-based operating system for business, today announced that it has been named a 2017 Horizon Interactive Awards gold award winner in the “Websites-Training/e-Learning” category. The Horizon Interactive Awards, a leading international interactive media awards competition, highlight the “best of the best” in interactive media production.Awarded to the Domo University team, the Horizon Interactive Award highlighted Domo’s free e-learning training course called Domo Basics, designed for the company’s 1500+ enterprise customers. Domo Basics courses have the advantage of being found, accessed and downloaded via the Domo App Store, which is available to all Domo users worldwide. This provides sharing options on the Domo platform itself to ensure training deployment at scale. The training includes both engagement activities (clickable, self-guided learning) and scenario-based application activities, and through Domo University, customers can access all of Domo’s learning resources in one place.

“Domo University is an essential part of Domo’s integrated approach to helping our customers get up to speed quickly with the Domo platform and enabling them with the real-time data they need to discover previously unseen opportunities,” said Jason Burby, chief customer success officer at Domo. “With the support of Domo University’s coursework, our customers can better leverage data and Domo, and improve the way business is run for the good of the company. Congratulations and thank you to our Domo University team for their well-deserved gold Horizon Interactive Award win.”

An international panel of judges, consisting of industry professionals with diverse backgrounds, evaluated categories ranging from online advertising to mobile applications. The 2017 winning entries showcase the industry’s best interactive media solutions including web sites, mobile applications, print media, interactive displays, public exhibits, online advertising, video, email, and more.

“The 2017 competition was an extremely interesting competition for many reasons. We saw a return to simplicity of the user experiences, an emphasis on minimal design, a deepening of the importance of mobile first design, and more targeted and streamlined content to bolster the user’s offline experiences,” said Mike Sauce, founder of the Horizon Interactive Awards. “In addition, we continue to see the use of multiple types of media to seamlessly integrate social channels, audio, video, 360° immersive video, and stunning photography. Many of the top award winners illustrate a perfect balance of form and function that are as welcoming and interesting to look at as they are in their overall purpose.”

The 2017 competition saw over 1,000 entries from around the world, encompassing 36 out of 50 U.S. states and 16 other countries, including: Australia, Austria, Belgium, Canada, China, Hong Kong, India, Ireland, Malaysia, Portugal, Russia, Spain, Taiwan, Turkey, U.K., and the United Arab Emirates.

For more information on the Horizon Interactive Awards, visit: www.horizoninteractiveawards.com.

*About Domo*
Domo’s mission is to help all employees – from the CEO to the front-line worker – optimize business performance by connecting them in real time to the right data and people they need to improve business results. The company works with many of the world’s leading and most progressive brands across multiple industries including retail, media and entertainment, manufacturing, finance and more. For more information, visit www.domo.com. You can also follow Domo on Twitter, Facebook, and LinkedIn.

Domo is a registered trademark of Domo, Inc.

*About the Horizon Interactive Awards*
In its 16^th year, the Horizon Interactive Awards was created to recognize excellence in interactive media production worldwide. Since 2001, the competition has received tens of thousands of entries from many countries around the world and nearly all 50 US States.  Each year, those entries are narrowed down to the “best of the best” to be recognized and promoted on an international stage for their excellence. The judging process involves a blend of the Horizon Interactive Awards advisory panel and an international panel of volunteer judges consisting of industry professionals. Winning entries have been dubbed the “best of the best” in the interactive media industry.

*Media Contact*
Domo, Inc.
PR@domo.com

  Reported by GlobeNewswire 9 hours ago.

A trapdoor spider discovered in Western Australia could be the longest-lived spider ever found. At 43 years old, the spider outlived a 28-year-old Mexican tarantula that held the record. Reported by MailOnline 8 hours ago.

THIS DOCUMENT MAY NOT BE RELEASED, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS PRESS RELEASE IS NOT INTENDED AS AN OFFER AND IS FOR INFORMATIONAL PURPOSES ONLY.

*Curetis to Raise EUR 4.1 Million in Equity Offering with Access to Additional USD 10 million in Equity Over
36 Months*

*Company to Issue 854,166 New Shares at EUR 4.80 Per Share*

This announcement contains inside information within the meaning of article 7(1) of the EU Market Abuse Directive.

*Amsterdam, the Netherlands, and Holzgerlingen, Germany, April 27, 2018, 18:30 CEST.* - Curetis N.V. (the "*Company*" and, together with Curetis GmbH, "*Curetis*"), a developer of next-level molecular diagnostic solutions, today announced that it has obtained commitments from qualified investors in Europe and the United States to subscribe for 854,166 new ordinary shares (the "*Offer Shares*") of the Company (the "*Offering*").

Total gross proceeds from the Offering for the Company are expected to be EUR 4.1 million, before deducting fees and expenses.

The Company also secured an additional USD 10 million equity facility offered by Global Corporate Finance (GCF), New York, NY, USA, allowing the Company solely at its request to raise additional equity over a period of up to 36 months subject to certain pre-agreed floor pricing.

Curetis expects to use the proceeds from the Offering as well as potentially from the equity facility by GCF to advance key commercial and R&D initiatives and for general corporate purposes, including:

· support of the U.S. commercial launch and roll-out of the Unyvero platform and Unyvero LRT Application Cartridge;
· driving the continued commercial roll-out of the Unyvero platform and Unyvero Application Cartridges in key EMEA markets;
· ongoing research and development projects aimed at expanding the product menu and platform capabilities of Unyvero and Ares Genetics.

"This offering strengthens our shareholder base in both the U.S. and Europe through the addition of several high-caliber healthcare-focused institutional investors. Also, with the additional USD 10 million equity facility offered by Global Corporate Finance we have added great flexibility to raise additional equity. We believe that the success of this offering reflects the progress we have made in advancing the Company since its IPO and investors' excitement over the opportunities that lie ahead," said Oliver Schacht, Ph.D., CEO of Curetis. "We have seen a number of significant catalysts for growth, notably the recent U.S. FDA clearance of our Unyvero System and LRT cartridge. The proceeds of this financing will provide us with the means to ensure an optimal U.S. commercial launch for Unyvero, further accelerate the EMEA commercial roll-out of the Unyvero platform and continue innovating by supporting the ongoing evolution of the Unyvero platform and Ares Genetics' activities."

*Settlement and Admission of the Offer Shares*
Payment for the Offer Shares is expected to take place on 30 April 2018 with delivery expected on 2 May 2018 or shortly thereafter, at which date the Offer Shares are also expected to be admitted to listing and trading on Euronext Amsterdam and Euronext Brussels under
ISIN NL0011509294 and ticker symbol CURE.

Following completion of the Offering, the Company's issued share capital amounts to
EUR 163,925.77, consisting of 16,392,577 ordinary shares with a nominal value of EUR 0.01 each.

###

*About Curetis*

Curetis N.V.'s (Euronext: CURE) goal is to become a leading provider of innovative solutions for molecular microbiology diagnostics designed to address the global challenge of diagnosing severe infectious diseases and identifying antibiotic resistances in hospitalized patients.

Curetis' Unyvero System is a versatile, fast and highly automated molecular diagnostic platform for easy-to-use, cartridge-based solutions for the comprehensive and rapid detection of pathogens and antimicrobial resistance markers in a range of severe infectious disease indications. Results are available within hours, a process that can take days or even weeks if performed with standard diagnostic procedures, and thereby facilitates improved patient outcomes, stringent antibiotic stewardship and health economic benefits. Unyvero in vitro diagnostic (IVD) products are marketed in Europe, the Middle East, Asia and the U.S.

Curetis' wholly owned subsidiary Ares Genetics GmbH offers next-generation solutions for infectious disease diagnostics and therapeutics. The ARES Technology Platform combines the world's most comprehensive database on the genetics of antimicrobial resistances, ARESdb, with advanced bioinformatics and artificial intelligence.

*For further information, please visit *www.curetis.com *and *www.ares-genetics.com*. *

*Contact details*

Curetis
Max-Eyth-Str. 42
71088 Holzgerlingen, Germany
Tel. +49 7031 49195-10
pr@curetis.com or ir@curetis.com
www.curetis.com* - *www.unyvero.com

*International Media & Investor Inquiries*
akampion
Dr. Ludger Wess / Ines-Regina Buth
Managing Partners
info@akampion.com
Tel. +49 40 88 16 59 64
Tel. +49 30 23 63 27 68

*Legal Disclaimer*
This announcement contains inside information. This is a public announcement pursuant to article 17 paragraph 1 of the European Market Abuse Regulation (596/2014).
This document constitutes neither an offer to buy nor to subscribe securities and neither this document nor any part of it should form the basis of any investment decision in Curetis.

The information contained in this press release has been carefully prepared. However, Curetis bears and assumes no liability of whatever kind for the correctness and completeness of the information provided herein. Curetis does not assume an obligation of whatever kind to update or correct information contained in this press release whether as a result of new information, future events or for other reasons.

This press release includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "may", "will", or "should", and include statements Curetis makes concerning the intended results of its strategy. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. Curetis' actual results may differ materially from those predicted by the forward-looking statements. Curetis undertakes no obligation to publicly update or revise forward-looking statements, except as may be required by law.

Not for release, publication, distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia), Australia, Canada or Japan or any other jurisdiction in which such release, publication or distribution would be unlawful. This announcement is not a prospectus for the purposes of the Prospectus Directive (as defined below). This announcement is for information purposes only and is not intended to constitute, and should not be construed as, an offer to sell or a solicitation of any offer to buy securities of Curetis N.V. (the "Company") in the United States, Australia, Canada, Japan or in any other jurisdiction. This announcement should not be regarded as an opinion or recommendation concerning the purchase or sale of securities of the Company. Persons into whose possession this communication comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdictions.

The securities mentioned herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States absent registration under the U.S. Securities Act or an available exemption from, or transaction not subject to, the registration requirements of the U.S. Securities Act. There will be no public offering of securities in the United States.

In the United Kingdom this announcement is only being distributed to, and is only directed at, and any investment or investment activity to which this announcement relates is available only to, and will be engaged in only with, Qualified Investors who are (i) investment professionals falling with Article 19(5) of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order, or (iii) other persons to whom it may otherwise be lawfully communicated (all such persons together being referred to as "relevant persons"). Persons who are not relevant persons should not take any action on the basis of this announcement and should not act or rely on it.

The Company has not authorized any offer to the public of securities in any Member State of the European Economic Area. With respect to any Member State of the European Economic Area and which has implemented the Prospectus Directive other than the Netherlands (each a "Relevant Member State"), no action has been undertaken or will be undertaken to make an offer to the public of securities requiring publication of a prospectus in any Relevant Member State. As a result, the securities may only be offered in Relevant Member States (i) to any legal entity which is a qualified investor as defined in the Prospectus Directive; or (ii) in any other circumstances falling within Article 3(2) of the Prospectus Directive. For the purpose of this paragraph, the expression "offer of securities to the public" means the communication in any form and by any means of sufficient information on the terms of the offer and the securities to be offered so as to enable the investor to decide to exercise, purchase or subscribe for the securities, as the same may be varied in that Member State by any measure implementing the Prospectus Directive in that Member State and the expression "Prospectus Directive" means Directive 2003/71/EC and amendments thereto, including Directive 2010/73/EU. In the Netherlands, the Offer Shares are not and may not be offered other than to persons or entities who or which are qualified investors (gekwalificeerde beleggers) as defined in Section 1:1 of the Dutch Financial Supervision Act (Wet op het financieel toezicht).

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness.

*Attachment*

· 20180427_Curetis_PR_EN.pdf Reported by GlobeNewswire 9 hours ago.

America’s biggest oil companies surprised investors with a mixed bag of first quarter earnings. Exxon Mobil Corp. (NYSE:XOM) missed earnings again Friday hit by weak refining despite the recent surge in oil prices, while Chevron Corp. (NYSE:CVX) fell short on revenue. The oil sector failed to fully reflect the knock-on effect from higher oil prices. Brent crude, the global benchmark for oil, surged 3.5% in April to $71.04 a barrel, the highest since late 2014. The average price of oil will rise to US$2.74 per gallon this summer, according to US government estimates. For the quarter ended March 31, Exxon booked earnings of US$1.09 per share on revenue of US$68.2bn, while Chevron reported earnings of US$1.90 on revenue of US$37.76 bn.  Exxon shares were punished, falling nearly 5% to US$77 on Friday after it missed consensus earnings estimates of US$1.14 per share on revenue of US$67.3bn.    Still, Exxon’s profits have somewhat improved over the last year helped by climbing oil and natural gas prices. However, the positive impact from higher oil prices on Exxon’s oil and natural gas exploration units was erased by falling profits in its refining and chemical business. Read: Exxon Mobil 1Q earnings disappoint, hit by weak refining, chemical businesses Exxon attributed the poor performance in the downstream business to its international operations, where it saw higher expenses, lower profit margins and weaker gains from sales of assets. The company's chemicals business also slumped, with profits falling about 14% from last year. Both at home and abroad, Exxon's profit margins fell while it expands the refining division. The company is investing US$20 bn through 2022 to expand its chemical and oil refining plants on the U.S. Gulf Coast. Investors were kinder to Chevron which missed forecasts for US$40.97bn in sales by only fetching US$37.76 bn. Shares of the company were slightly up in afternoon trading. "Our cash flow continues to increase with the powerful combination of expanding upstream margins and volumes," said Chevron CEO Michael Wirth. Oil and gas production increased in the liquified natural gas projects in Australia, according to the company’s release. Shale developments in the Permian Basin straddling Texas and New Mexico grew 65% compared to last year. Houston-based Phillips 66 (NYSE:PSX) said Friday that its net profit fell 2.1% in the first quarter, dragged down by lower year-on-year refining income. The energy and logistics company earned a quarterly profit of US$524 mln, or US$1.07 a diluted share, compared with US$535 mln, or US$1.02, for the same quarter last year. Read:Chevron shares up after beating first-quarter earnings estimates In a better showing for the oil sector, Cabot Oil & Gas Corp. (NYSE:COG) posted a profit of US$0.28 beating the average analyst estimate of US$0.27. Cabot was up 2.22% at $US23.99 Similarly, Canada's oil producer and refiner Imperial Oil Ltd (USA) (NYSEAMERICAN:IMO) reported a 55% rise in quarterly profit, as strength in its refining and chemicals businesses offset discounted Canadian crude prices. Imperial Oil was up 3.79% to US$31.24. Both Cabot and Imperial oil have ramped up production, in tandem with OPEC’s efforts to cut global output, to take advantage of rising prices. The results come as the rally in crude prices has left oil producers more flush with cash, putting pressure on them to return more capital to shareholders. Reported by Proactive Investors 8 hours ago.