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Join executives from SENEX Energy, South32, Fluence and Barclays as event looks at the Asian Pacific commodities outlook LONDON/HOUSTON/SINGAPORE, Aug. 17, 2022 (GLOBE NEWSWIRE) -- Amidst massive global change, long-established energy and commodity flows are in turmoil, and trade balances are shifting. Asian markets are feeling the pressure of geopolitical rifts, supply chain risks and rising costs, which are all reshaping the energy transition. Join Wood Mackenzie’s expert analysts, as well as leaders from across the industry, to hear how governments, companies and investors can successfully navigate the challenges ahead at its flagship Asia Pacific (APAC) Energy & Natural Resources Summit on September 13. As well as exclusive presentations from Wood Mackenzie experts and a top-tier speaker line-up, including representatives from SENEX Energy, BHP and Barclays, the hybrid in-person and virtual conference provides the opportunity to connect with top renewable developers and utilities, transmission operators, energy regulatory bodies, investment entities, policy-makers, entrepreneurs, regulators and technology providers across the APAC region. Key themes on the agenda include: The Role of Metals in the Transition – Underpinning or Undermining Progress? Navigating the Energy Crisis – Policy, Financing and Opportunities Amid Record Prices China, India and The New Energy Disorder Women in Energy and Metals and Mining – A Just Transition in Asia Pacific Achieving Net Zero in APAC – Are We Backing the Right Technologies? The Energy & Natural Resources Summit will hear from leading experts from across the industry including: Ian Davies, Managing Director & CEO, SENEX Energy Michiel Hovers, Group Sales and Marketing Officer, BHP Cynthia Lim, Group Economist & Manager Market Analysis, South32 Isabelle de Lovinfosse, COP26 Team Lead, British High Commission Achal Sondhi, VP of Growth, APAC, Fluence Wei Lynn Tan, Head of Sustainable Investment, Barclays Ben Arnott, Managing Director, Head of Energy Finance and Advisory South East Asia Société Générale To reserve your place at Wood Mackenzie’s flagship Energy & Natural Resources Summit APAC, or for further information, please click on this link. ENDS Wood Mackenzie Event Health & Safety Guidelines/Policies Wood Mackenzie is committed to providing a safe and healthy environment for all event participants. Our decisions and preventive measures will be guided by the requirements and recommendations of the local health authorities. We are working with the event venue on implementing preventive measures to reduce the potential spread of COVID-19 at the event. Preventive measures include: Attestation of vaccination from all Wood Mackenzie employees and event attendees Masks are strongly encouraged by all event participants at all times Enhanced sanitization of meeting and exhibit spaces Extra venue space to allow for social distancing in meeting space Hand sanitizing stations throughout the meeting and exhibit spaces Masks and testing kits will be available if needed The responsibility for a safe and healthy event environment is shared among the event organiser, venues and every participant. All participants are expected to adhere to and abide by the safety precautions Verisk is implementing to protect against the spread of COVID-19. As part of your responsibilities, you should not attend this event if you: Are experiencing, or within the 10 days prior, have experienced signs and symptoms of COVID-19. 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BANGKOK, Aug. 17, 2022 /PRNewswire/ -- Thai and foreign companies filed a total of 784 applications for investment promotion during the first six months of 2022, an increase of 4% from the year earlier period, while the combined investment value of 219.7 billion baht (US$ 6.2 billion). Investment applications in target industries accounted for 70% of total investment value in the first half, with 358 projects worth a combined 153.5 billion baht. Thailand Board of Investment (BOI) Secretary General Ms. Duangjai Asawachintachit announced today after a Board meeting the approval of incentives to promote investment in the high-precision machinery industry, and reported that applications for investment promotion filed during the first half of 2022 amounted to a combined value of 219.7 billion baht (US$ 6.2 billion). The automotive and digital sectors saw the highest growth rates during the six-month period, Ms Duangjai said. EV applications also contributed to place the automotive sector on top in terms of investment value with a combined 42.4 billion baht, an increase of 212% over the year earlier period. Meanwhile, the value of investment applications in the digital sector grew by 202% to 1.45 billion baht. During the first half, 395 projects were foreign direct investment (FDI) applications with a combined value of more than 130 billion baht. Taiwan was the main source of FDI applications during the period with 19 projects, worth a combined 38.5 billion baht, accounting for 30% of FDI project value. Next came Japan, mainland China, the US and Singapore, with investment value of 16.9 billion baht, 15.5 billion baht, 11.3 billion baht and 8.7 billion baht respectively. In terms of investment locations, Thailand's Eastern Economic Corridor (EEC), Thailand's prime industrial area, continued to attract the biggest chunk of applications with a total of 217 project worth over 104.9 billion baht. Investment applications for productivity enhancement incentives continued to grow, particularly those investing in in-house renewable energy production and the use of automation systems, in line with the global sustainability trend which focuses on reducing effects on climate change. "Though the global economic outlook faced increased challenges in the first half of the year, we will continue to monitor the situation and adjust our policies and incentives to ensure Thailand remains the resilient destination of choice for global investors in fast growing sectors such as electric vehicles," BOI Secretary General Ms. Duangjai Asawachintachit told reporters after a board meeting. Incentives to further support high-tech industries The Board approved the addition of new BOI categories with attractive incentives to support the use of new technologies, namely manufacture and repair of high-precision machinery, equipment and parts (8-year CIT exemption), additive manufacturing (5-year CIT exemption), and production of electronics parts using microtechnology (8-year CIT exemption). "These new categories will help enhance Thailand's attractiveness as a location for the high-precision machinery industry which has experienced a high growth recently and will also support the growing demand for micro parts and the move towards additive manufacturing", Ms. Duangjai said. Relaxation of feasibility study requirements As part of BOI's efforts in facilitating BOI application process, the Board has approved the relaxed threshold for feasibility studies to be submitted along with BOI applications. Following the relaxation, feasibility studies will only be required for projects with an investment value of 2.0 billion baht or more (excluding the cost of land and working capital), compared to 750 million baht previously. "This change aims at further streamlining BOI application process and reducing transaction costs for investors", Ms. Duangjai said. Project approvals The BOI board meeting held today approved applications worth a total of 44.5 billion baht, as per the following details: - A Chinese investment project received approval for a 17.9 billion baht investment to produce battery electric vehicles (BEV) as well as plug-in hybrid electric vehicles (PHEV) in Rayong province, in the EEC area. - PTT PCL received approval for a 18 billion baht investment in a natural gas production project located at Map Ta Phut Industrial Estate in Rayong Province - Two companies, namely Santi Bhum Co., Ltd. and Thitti Bhum Co., Ltd., received approvals for investments of 4.3 billion baht each in container ships. For more information, please contact:Thailand Board of InvestmentTel. +66 (0) 2553 8111Website: www.boi.go.thYouTube: Think Asia, Invest Thailand
Headlined by Spackman Media Group artist Kim Sang-kyung, POONG, THE JOSEON PSYCHIATRIST surpassed its own highest viewership records, securing the top spot for its time slot across all TV channels in Korea The tvN K-drama recorded an average viewership rating of 5.0% to 5.9% for households nationwide for its latest episode aired on August 16, as compared to the broadcaster's average viewership rating of 2.2% to 2.6% Previously, Kim Sang-kyung starred in AIR MURDER, which was co-produced by the Group's indirectly wholly-owned subsidiary Platform Media Group and was the #1 Korean film at its opening weekend box office in Korea SINGAPORE - Media OutReach - 17 August 2022 - Spackman Entertainment Group Limited (the "Group"), one of Korea's leading entertainment production groups founded in 2011 by media & technology investor Charles Spackman, wishes to announce that the tvN K-drama, POONG, THE JOSEON PSYCHIATRIST, headlined by veteran actor Kim Sang-kyung of Spackman Media Group Limited ("Spackman Media Group"), broke its own highest viewership records, taking the top spot for its time slot across all TV channels in Korea. The latest episode of Kim Sang-kyung's latest K-drama, POONG, THE JOSEON PSYCHIATRIST, posted an average viewership rating of 5.0% to 5.9% for households nationwide on August 16, as compared to the broadcaster's average viewership rating of 2.2% to 2.6%, based on Nielson Korea, an audience rating research company. The solid performance of POONG, THE JOSEON PSYCHIATRIST underscores the star power of Kim Sang-kyung, who previously starred in Korean film AIR MURDER, which was co-produced by the Group's indirect wholly-owned subsidiary, Platform Media Group Co., Ltd. and was ranked as the top Korean film at its first weekend box office in Korea. POONG, THE JOSEON PSYCHIATRIST is based on the novel of the same name that won the Excellence Award in the 2016 Korea Story Contest. Directed by Park Won-gook, written by Park Seul-gi, Choi Min-ho & Lee Bom, and produced by Studio Dragon, the Joseon era drama depicts the redemption of a disgraced royal physician who becomes a well-respected psychiatrist in a small village. Along with Kim Sang-kyung, POONG, THE JOSEON PSYCHIATRIST features Kim Min-jae of DALI AND COCKY PRINCE (2021) and Kim Hyang-gi of ALONG WITH THE GODS (2017-2018). Previously, Kim Sang-kyung of Spackman Media Group starred in SBS drama RACKET BOY BAND (2021), which was released on Netflix & SBS. He also starred in tvN's and Netflix's THE CROWNED CLOWN (2019). Kim Sang-kyung won the Jury Special Award for his role in THE DISCLOSER (2017) at the 38th Golden Cinematography Awards. He is widely known for his leading roles in MEMORIES OF MURDER (2003), directed by Bong Joon-ho of PARASITE (2019) and the Group's 2013 US production SNOWPIERCER. Kim Sang-kyung won the Jury Special Award at the 38th Golden Cinematography Awards in 2018 and the Excellence Award & Netizen Award at the 2014 KBS Drama Awards. Hashtag: #SpackmanEntertainmentGroup About Spackman Entertainment Group LimitedSpackman Entertainment Group Limited ("SEGL" or the "Company"), and together with its subsidiaries, (the "Group"), is one of Korea's leading entertainment production groups. SEGL is primarily engaged in the independent development, production, presentation, and financing of theatrical motion pictures in Korea. The Company was founded in 2011 by renowned media and technology investor Charles Spackman who served as the Company's Executive Chairman until 2017. For the past two decades, Mr. Charles Spackman has been a powerhouse in the Korean entertainment industry starting in the early 2000's with the pioneering success of Sidus Pictures, the largest movie production company at the time and the first to be listed in Korea. Mr. Spackman is also the Founder, Chairman and Chief Executive Officer of the global investment firm, Spackman Group. For more information, please visit http://www.charlesspackman.com and https://spackman-group.com/charles-spackman. Since its founding, SEGL had produced more than 30 major motion pictures including a number of the highest grossing and award-winning films in Korea, namely #ALIVE (2020), CRAZY ROMANCE (2019), DEFAULT (2018), MASTER (2016), THE PRIESTS (2015), SNOWPIERCER (2013), COLD EYES (2013) and ALL ABOUT MY WIFE (2012). Our films are theatrically distributed and released in Korea and overseas markets, as well as for subsequent post-theatrical worldwide release in other forms of media, including online streaming, cable TV, broadcast TV, IPTV, video-on-demand, and home video/DVD, etc. Generally, we release our motion pictures into wide-theatrical exhibition initially in Korea, and then in overseas and ancillary markets. The Group also invests into and produces Korean television dramas. In addition to our content business, we also own equity stakes in entertainment-related companies and film funds that can financially and strategically complement our existing core operations. SEGL is listed on the Catalist of the Singapore Exchange Securities Trading Limited under the ticker 40E. Production Labels SEGL owns Novus Mediacorp Co., Ltd. ("Novus Mediacorp"), an investor, presenter, and/or post-theatrical distributor for a total of 79 films (58 Korean and 21 foreign) including ROSE OF BETRAYAL, THE OUTLAWS and SECRETLY, GREATLY, which was one of the biggest box office hits of 2013 starring Kim Soo-hyun of MY LOVE FROM THE STARS, as well as FRIEND 2: THE GREAT LEGACY. In 2012, Novus Mediacorp was also the post-theatrical rights distributor of ALL ABOUT MY WIFE, a top-grossing romantic comedy produced by Zip Cinema. In 2018, THE OUTLAWS, co-presented by Novus Mediacorp broke the all-time highest Video On Demand ("VOD") sales records in Korea. For more information, please visit http://novusmediacorp.com The Company owns a 100% equity interest in Simplex Films Limited ("Simplex Films") which is an early stage film production firm. The maiden film of Simplex Films, JESTERS: THE GAME CHANGERS (2019), was released in Korea on 21 August 2019. Simplex Films has several line-up of films including HURRICANE BROTHERS (working title). The Company owns a 100% equity interest in Take Pictures Pte. Ltd. ("Take Pictures") which produced STONE SKIPPING (2020) and THE BOX (2021), and shall release THE GUEST in the second half of 2022 and A MAN OF REASON, with the previous working title GUARDIAN in 2022 tentatively. The Company owns a 100% equity interest in Greenlight Content Limited ("Greenlight Content") which is mainly involved in the business of investing into dramas and movies, as well as providing consulting services for the production of Korean content. Through the acquisition of Greenlight Content, the Group's first co-produced drama, MY SECRET TERRIUS, starring top Korean star, So Ji Sub, achieved #1 in drama viewership ratings for its time slot and recorded double digits for its highest viewership ratings. Greenlight Content was one of the main investors of MY SECRET TERRIUS. The Company owns a 20% equity interest in The Makers Studio Co. Ltd., which plans to produce and release four upcoming films, the first of which will be THE ISLAND OF THE GHOST'S WAIL, a comedy horror film. Talent Representation The Company holds an effective shareholding interest of 43.88% in Spackman Media Group Limited ("SMGL"). SMGL, a company incorporated in Hong Kong, together with its subsidiaries, is collectively one of the largest entertainment talent agencies in Korea in terms of the number of artists under management, including some of the top names in the Korean entertainment industry. SMGL operates its talent management business through renowned agencies such as MSteam Entertainment Co., Ltd. (Son Ye-jin, Wi Ha-jun, Lee Min-jung, Ko Sung-hee), SBD Entertainment Inc. (Son Suk-ku, Han Ji-hyun, Lee Cho-hee, Park Keun-rok), UAA&CO Inc. (Kim Sang-kyung, Kim Hye-ri, Kim Ji-young, Wang Ji-won), Play Content Co., Ltd. (Kang Min-ji, Hwang-hwi) and Kook Entertainment Co., Ltd. (Baek Si-won, Shin Ji-woong). Through these full-service talent agencies in Korea, SMGL represents and guides the professional careers of a leading roster of award-winning actors/actresses in the practice areas of motion pictures, television, commercial endorsements, and branded entertainment. SMGL leverages its unparalleled portfolio of artists as a platform to develop, produce, finance and own the highest quality of entertainment content projects, including theatrical motion pictures, variety shows and TV dramas. This platform also creates and derives opportunities for SMGL to make strategic investments in development stage businesses that can collaborate with SMGL artists. SMGL is an associated company of the Company. For more information, please visit http://www.spackmanmediagroup.com The Company owns a 100% equity interest in Constellation Agency Pte. Ltd. ("Constellation Agency"). Constellation Agency, which owns The P Factory Co., Ltd. ("The P Factory") and Platform Media Group Co., Ltd. ("PMG"), is primarily involved in the business of overseas agency for Korean artists venturing into the overseas market. The P Factory is an innovative marketing solutions provider specializing in event and branded content production. PMG is a talent management agency which represents and manages the careers of major artists in film, television, commercial endorsements and branded entertainment. Strategic Businesses The Company also operates a café-restaurant, Upper West, in the Gangnam district of Seoul and own a professional photography studio, noon pictures Co., Ltd. For more details, please visit http://www.spackmanentertainmentgroup.com/
KUALA LUMPUR, MALAYSIA - Media OutReach - 15 August 2022 - On the occasion of the international Forex broker's 11th anniversary, OctaFX has taken on the exciting task of reviewing what turned out to be a vivid decade for the Foreign Exchange market. Let us get right into some specific yet crucial events that helped shape the foreign exchange market 1. The notorious Forex probe (2013) 2013 made room for a formidable Foreign Exchange scandal that came to be known as the infamous 'Forex probe'. Upon independent investigation, a major corruption chain was uncovered that showed how international banks colluded for at least ten years to temper exchange rates on the Forex market. 2. China materialises as the world's largest economy (2015) As of this writing, seven years have passed ever since the International Monetary Fund (IMF) announced that the People's Republic of China has officially climbed to the first place as the world's largest economy. 3. The European Union overextending itself—the Greek debt crisis (2015) The Greek economy turned out to be especially fragile and prone to the economic turbulences stemming out of the worldwide financial crisis of 2007. Athens' state default was almost imminent, until the European Union stepped in to grant new loans to the tune of 86 billion to Greece for it to maintain its due payments. This government bailout has been unprecedented in the scope of modern history. 4. Great Britain leaves the European Union (2016) A close call, but still, 51.9% of British voters voted to leave the European Union in 2016. This has been harshly criticized in the EU itself. Even though the decision was set, British society arrived at a crossroads of economic and political uncertainty. The British pound sterling weakened significantly since then. 5. Oil prices collapse during the Trump phenomenon When Donald J. Trump offered his Republican candidacy for POTUS back in 2015, there weren't that many who expected him to succeed. Nonetheless, after an outspoken and at times controversial campaign effort, he emerged as the winner of the 2016 U.S. presidential election. This sent shock waves through the political, social and economic sphere of the country and the entire world. At that time, crude oil prices made steep price drops. The markets got accustomed to crude oil prices trading between 75 USD and 115 USD per barrel for the first half of the 2010s. 2014 was the year when the U.S. marked a doubled oil production, in contrast to 2008. A sudden end came in 2016 when the oil price collapsed to 26 USD per barrel. A continual trend that defined the last decade's second half. So much so that the 26 USD per barrel sank even further to 20 USD per barrel in 2020 due to the coronavirus pandemic. 6. 2011—2015: U.S. shale revolution (crude oil and natural gas) The shale revolution refers to the combination of new technologies and innovative practices in the oil and natural gas industry in the United States. The transformative effect of the shale boom has been so dramatic that on 18 December, 2015, Barack Obama, the 44th President of the U.S., signed a law that repealed the country's decades-long ban on oil exports. The United States no longer relies on significant imports of oil and natural gas to bridge the gap between its strong demand and gradually declining production. On the contrary, the country now plays an active role as a global supplier—particularly that of LNG. 7. The U.S.-China trade war (2018) One of President Trump's main talking points and policy areas was his ambitions to change trade relations with Beijing. Trade imbalances that were disadvantageous to the U.S. bothered Trump. Since the result was a long-standing, enormous trade deficit, one of Trump's strategies was the tariff roll-out to directly challenge Chinese export on the global markets. In economic terms, liberal analysts defined Trump's presidency as a modern variant of 'isolationism' or 'protectionism'. It favoured domestic manufacturing and trade arrangements over global trading habits that had Washington at a perceived—by Trump and his team at least—disadvantage. 8. The U.S. elections (2020) Hoping to repeat his 2016 victory and enter a second term, President Trump lost to his democratic challenger—Joe Biden. Once the results came in, controversy followed, that led to some discontent in U.S. society. Social issues, especially, were widely contested, as well as the role of the media itself, which illustrated a huge split in American public opinion—one that eventually gave Joe Biden a very close victory. 9. The infamous COVID-19 pandemic and recession it caused (2020) 9 March 2020 marked the stock market crash. Soon afterwards, the Dow Jones Industrial Average (DJIA) plummeted to a low up to that point. All thanks to the relentless COVID-19 pandemic that spread like wildfire. Due to the crash, investors the world over feared the coronavirus contagion and its ability to spread and debilitate asset behaviour and prices globally. Soon, anticipations of yet another series of oil price drops and a new recession were confirmed. 10. The rise and fall of crypto (2021) In March 2020, during the so-called 'black swan' crypto event, bitcoin saw a significantly low price of 4.826 USD. Coincidently, this was during the first huge shock waves of the COVID-19 pandemic that hit the world economy. Bitcoin recovered fast and pushed to 10.000 and, towards the conclusion of 2020, to almost 30.000 USD. During that time, an influx of retail investors and traders flooded the industry. In June 2021, bitcoin breached 52.000 USD, before flying even higher towards 65.000 USD in October and 67.500 USD in November. After that, a downtrend crept in that eventually started to turn bearish once 2022 started. 11. New COVID-19 Strains while UK and EU reach agreement post-Brexit Fears of coronavirus mutations and possible new strains of COVID-19 brought renewed uncertainty about the prospects of eventually overcoming the pandemic in 2021. Vaccine development and its worldwide administering were officially in process. Enormous amounts of newly minted currency units flooded the economy to safeguard against the troubles caused by COVID-19 restrictions on the job market, in the social sector, and in international trade. Whichever way you look at it, the past decade was full of unique opportunities and challenges. Gazing at current world affairs, the Forex community can say with good conscience and some certainty that there is a risky but exciting ride ahead of them. Legacy finances are in a very dynamic shift—ushering in a 'financial reformation'—that could make Asia the new focal point of financial supremacy and leadership. Hashtag: #OctaFXThe issuer is solely responsible for the content of this announcement.About OctaFX OctaFX is a global broker providing online trading services worldwide since 2011. It offers everything one needs to reach their investment goals, providing top-notch conditions utilised already by clients from over 150 countries worldwide. The company is involved in a comprehensive network of charity and humanitarian initiatives, including improvement of educational infrastructure, short-notice relief projects, supporting local communities and small to medium enterprises. On a side note, OctaFX has also won more than 45 awards since its foundation, including the 2021 'Best Forex Broker Asia' award from Global Banking & Finance Review and 2021 'Best ECN Broker' award by World Finance.
Private investment in public equity (PIPE) financing secured primarily through existing TMC shareholders and insiders The transaction includes an aggregate of $30.4 million in commitments to purchase common shares at US$0.80 per share NEW YORK, Aug. 15, 2022 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or the “Company”), an explorer of the world’s largest estimated undeveloped source of critical battery metals, today announced a committed PIPE financing which is expected to result in US$30.4 million of gross proceeds (approximately $30M net proceeds) through the issuance of approximately 38.0 million common shares. A majority of the committed funds are from existing TMC shareholders and insiders, including Allseas, ERAS Capital (the family office of TMC Director Andrei Karkar), SAF Group Managing Partner and entrepreneur Brian Paes-Braga, Front End Chairman & CEO Majid Alghaslan, and TMC Chairman & CEO Gerard Barron (who purchased common shares at $0.9645 per share based on the consolidated closing bid price of the common shares on August 11, 2022) and his family. In total, approximately 70% of the commitments came from existing TMC shareholders and insiders. The Company believes that the full proceeds from this transaction expected this quarter plus existing cash will be sufficient to fund operations for at least the next twelve months, past the July 2023 date targeted by the International Seabed Authority (ISA) as the date for the final adoption of the exploitation regulations for the industry. “I appreciate the ongoing support from our existing shareholders and welcome new shareholders to TMC,” said Gerard Barron, CEO and Chairman of TMC. “While we continue to see strong tailwinds in critical mineral demand and prices as well as increased efforts by countries and companies to shore up supply chains for EV battery metals, our pre-production company is not immune to inflation particularly in our offshore costs. We believe this infusion of capital helps to ensure that we can continue to hit our milestones leading up to the expected submission of our NORI-D exploitation application to the ISA.” Last month TMC announced that its Australian subsidiary, The Metals Company Australia Pty Ltd., had entered into a research funding agreement with a consortium of institutions led by Australia’s Commonwealth Scientific Industrial Research Organisation (CSIRO) to create a framework for the development of an ecosystem-based environmental management and monitoring plan (EMMP). Earlier this year the Company and its strategic partner, Allseas, announced successful wet-test commissioning of the pilot nodule collection system — including the nodule riser and collector vehicle — in the Atlantic Ocean. As previously announced, TMC will host a conference call today, Monday, August 15, 2022 at 4:30 pm ET, to provide an update on second quarter financial results and recent corporate developments, including the PIPE financing. EAS Advisors LLC, acting through Odeon Capital Group LLC, member of FINRA/SIPC/MSRB/NFA, acted as placement agent on the PIPE financing. The securities described above have not been registered under the Securities Act of 1933, as amended. Accordingly, these securities may not be offered or sold in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act. TMC has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the common shares issuable in this private placement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. About The Metals Company The Metals Company is an explorer of lower-impact battery metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for the clean energy transition with the least possible negative environmental and social impact and (2) accelerate the transition to a circular metal economy. The company through its subsidiaries holds exploration and commercial rights to three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of Nauru, Kiribati and the Kingdom of Tonga. More information about The Metals Company is available at www.metals.co. More Info Media | media@metals.co Investors | investors@metals.co Forward Looking Statements Certain statements made in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, including related to the expected proceeds from the PIPE financing, how long TMC’s cash and proceeds from the PIPE financing will fund operations, the timing of ISA actions and TMC’s submission of an exploitation application. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside TMC’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: TMC’s successful completion of the PIPE financing and receipt of all expected proceeds thereform; TMC’s ability to obtain exploitation contracts for its areas in the CCZ; regulatory uncertainties and the impact of government regulation and political instability on TMC’s resource activities; changes to any of the laws, rules, regulations or policies to which TMC is subject; the impact of extensive and costly environmental requirements on TMC’s operations; environmental liabilities; the impact of polymetallic nodule collection on biodiversity in the CCZ and recovery rates of impacted ecosystems; TMC’s ability to develop minerals in sufficient grade or quantities to justify commercial operations; the lack of development of seafloor polymetallic nodule deposit; TMC’s ability to successfully enter into binding agreements with each of Allseas and Epsilon Carbon; uncertainty in the estimates for mineral resource calculations from certain contract areas and for the grade and quality of polymetallic nodule deposits; risks associated with natural hazards; uncertainty with respect to the specialized treatment and processing of polymetallic nodules that TMC may recover; risks associated with collective, development and processing operations, including with respect to the proposed plant in India and Allseas’ expected development efforts; fluctuations in transportation costs; fluctuations in metals prices; testing and manufacturing of equipment; risks associated with TMC’s limited operating history; the impact of the COVID-19 pandemic; risks associated with TMC’s intellectual property; and other risks and uncertainties, including those under Item 1A “Risk Factors” in TMC’s Annual Report on Form 10-K for the year ended December 31, 2021, filed by TMC with the Securities and Exchange Commission (“SEC”) on March 25, 2022, and in TMC’s other future filings with the SEC. TMC cautions that the foregoing list of factors is not exclusive, including TMC’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2022 when filed with the SEC. TMC cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. TMC does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based except as required by law.
NEW YORK, August 12, 2022 -- Sinopec Shanghai Petrochemical Company Limited (the “Company”) (NYSE:SHI) (HKEX:00338) (SSE:600688) announced today that the Company notified the New York Stock Exchange (the “NYSE”) on 12 August 2022 (eastern time of the United States) that it intends to voluntarily delist its American depositary shares (the “ADSs”) representing Class H ordinary shares of the Company (the “H Shares”) from the NYSE (the “Delisting”) and, when the legal conditions are met, terminate its registration of such ADSs and the reporting obligations under the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”). The decision of the Delisting is based upon a number of considerations including, the small number of underlying H shares represented by the ADSs issued by the Company relative to the total number of the Company’s H Shares, the limited trading volume of the ADSs relative to the worldwide trading volume of the Company’s H Shares and the considerable administrative burden and cost of maintaining the listing of the ADSs on the NYSE, the registration of the ADSs and the underlying H Shares with the U.S. Securities and Exchange Commission (the “SEC”) and complying with the periodic reporting and other relevant obligations under the Exchange Act. The board of directors of the Company approved the Delisting and the deregistration of such ADSs and the underlying Class H Shares under the Exchange Act upon certain legal conditions being met. The Company intends to file a Form 25 with the SEC on or before August 26, 2022 for the Delisting of the ADSs. The Delisting is expected to become effective ten days thereafter. Once the Delisting becomes effective, the ADSs of the Company will no longer be listed and traded on the NYSE. When the relevant requirements of the Exchange Act have been met, the Company expects, based upon future circumstances, to terminate the registration of the ADSs and underlying H Shares under the Exchange Act and the associated disclosure obligations. The Company will also take into account the practical situation in the future and consider whether to terminate the provisions of the depositary agreement under appropriate circumstances. The Company reserves its rights in all respects to delay or withdraw the aforementioned actions prior to their effectiveness and will issue further announcement if required under the Listing Rules or other applicable laws. The Company will continue to comply with the information disclosure obligations stipulated by the Listing Rules and maintain smooth communication with investors. CAUTIONARY STATEMENT FOR PURPOSES OF THE “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 This press release may contain, in addition to historical information, “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995 and Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward- looking statements are based on the Company’s current assumptions, expectations and projections about future events. The Company uses words like “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and similar expressions to identify forward looking statements, although not all forward-looking statements contain these words. These forward-looking statements are necessarily estimates reflecting judgment of the Company’s senior management and involve significant risks, both known and unknown, uncertainties and other factors that may cause the Company’s actual performance, financial condition or results of operations to be materially different from those suggested by the forward-looking statements. Except as required by law, the Company undertakes no obligation and does not intend to update any forward-looking statement, whether as a result of new information, future events or otherwise. Investor and Media Enquiries: PRChina Limited Ning Mei / Jack Liu Tel: (852) 2522 1368 / (852) 6852 8423 Email: nmei@prchina.com.hk / zyliu@prchina.com.hk
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