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News / Gatemore happy with new terms of DX Group takeover of Menzies Distribution

first_img Activist investor Gatemore Capital has resolved its dispute with DX Group and okayed a takeover of Menzies Distribution, which will bring an end to Petar Cvetkovic’s rein as DX CEO.Gatemore Capital chief investment officer and managing partner Liad Meidar had opposed the deal and called on Mr Cvetkovic and DX chairman Bob Holt to resign, claiming they had destroyed the operator’s market value by 90%.Today, however, Mr Meidar announced that DX had come to new arrangements regarding the purchase of Menzies that were “fairer to shareholders”.He told The Loadstar: “The terms of the merger have improved for shareholders by 95%. The debt load is much lower and this will give the company much needed breathing space to get some of the issues we have identified resolved.”Under the revised terms, DX Group will acquire Menzies on a cash- and debt-free basis for £40m in cash and the issuance of new DX shares, representing 65% of its value.“This is a significant step-down from the £60m purchase price initially tabled, which diluted shares by 75%,” said Mr Meidar. “We [current shareholders] will therefore own, in aggregate, 35% of DX’s enlarged share capital – a significant increase from the 20% initially offered.”Currently, Gatemore owns 21.3% of DX Group. With the new share issue, the value of its holding will be diluted to 7.45%, but Mr Meidar said this was a significant improvement on the original merger proposal which would have left Gatemore with just 4.2%.He said: “The deal has restored a more productive working relationship between DX Group’s board and its shareholders – it still needs to be finalised, of course, but they have shown a willingness to listen.”When the deal was announced in March, DX Group said once it was completed, the board would be enlarged by independent non-executive directors and Mr Holt replaced. The plans included the appointment of Menzies Distributions MD Greg Michael as the new CEO, Menzies’ finance director Paul McCourt taking over as chief financial officer and DX finance director Daljit Basi becoming executive director.When asked by The Loadstar whether any of this would change, DX Group declined to comment.In a statement to the London Stock Exchange, Mr Holt said: “We are pleased to have reached this agreement and believe that the revised terms of the proposed transaction represent an attractive opportunity for all stakeholders of both companies.”Mr Meidar said he continued to believe in the long-term value of DX as a standalone business, due to its “leading position in document exchange, secure delivery and IDW [irregular dimension & weight] freight”.“We believe the shareholders will be pleased by the revised terms that have been agreed, which is why we have agreed in turn to vote in favour of the transaction,” he added. By Alexander Whiteman 05/06/2017last_img read more

Venmo now allows transactions with cryptocurrency

first_imgMastercard and Visa are trying to streamline crypto payments on their networks. Goldman Sachs will reportedly soon offer its private wealth management clients avenues to invest in bitcoin and other digital currencies. And Morgan Stanley announced that it will offer its wealthy clients access to bitcoin funds, CNN reported. The-CNN-Wire™ & © 2021 Cable News Network, Inc., a WarnerMedia Company. All rights reserved. AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments AdvertisementCryptocurrency is becoming increasingly mainstream. Last week, crypto enthusiasm soared as trading platform Coinbase went public at a valuation of $86 billion, followed by a wild 500% rally in Dogecoin — an asset that was created as a joke in 2013. Cryptocurrency backers have spent years insisting that bitcoin, ethereum and other digital coins could revolutionize the world of finance. That hasn’t happened yet, but Venmo’s announcement is another example of how crypto is creeping ever closer toward mainstream acceptance, CNN reported. Venmo isn’t the only company to except cryptocurrency. Tesla starting accepting bitcoin payments for its cars and now holds some of the digital currency on its balance sheet. Important things to know before the stock market opens Wednesday May 27, 2021 Bitcoin sinks 12% after Elon Musk tweets that Tesla won’t accept it as payment Advertisement RELATEDTOPICS Bitcoin suffers flash crash following week of crypto hype April 19, 2021center_img Crypto News: Ethereum is at an all-time high May 4, 2021 AdvertisementTags: bitcoin Advertisement May 14, 2021 CNN – Venmo announced on Tuesday that it is allowing its users to sell, buy and pay with cryptocurrency on the app. Venmo, which is owned by PayPal, said its more than 70 million customers can buy bitcoin, ethereum, litecoin and bitcoin cash for as little as $1.Cryptocurrency is often daunting to newbies, so Venmo is offering in-app guides and videos to help answer frequently asked questions. More than 30% of Venmo customers have already started purchasing cryptocurrency or equities, according to the payments company. And 20% of those customers started doing so during the pandemic. AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 commentslast_img read more

Truex Jr. extends points lead, but could have had much more

first_imgRELATED: Full race results | Driver standings | Stage points for ’17LOUDON, N.H. — For Coors Light Pole winner Martin Truex Jr., Sunday’s Overton’s 301 had a similar feel to the No. 78 Furniture Row Racing team’s dominating run last weekend at Kentucky — at least for a while.Truex captured the first stage comfortably, increasing his series-best playoff points total to 29 and led the first 78 laps. But there the domination ended.Divergent pit strategies put Truex deep in the field for the start of the second stage, and a flat right front tire forced him to pit out of sequence in the final stage. A poor restart from the bottom lane after the final caution cost him track position, and Truex couldn’t advance beyond third before the checkered flag.The good news? Truex increased his lead in the Monster Energy NASCAR Cup Series standings to 38 points over race runner-up Kyle Larson, who is second in points.“We had a really good WIX Filters Toyota for most of the race and led a bunch of laps and then got that flat tire, kind of got off sequence,” Truex said. “Whatever happened there after Lap 200 or so, I think the VHT (traction compound) was kind of wore off the track, and we started to lose our edge a little bit there. We still had a shot, but on the last restart we got the inside lane there, restarted third. It wasn’t the place to be, obviously.“I think the 11 (race winner Denny Hamlin) started fourth, and that was really the place I would have liked to have been. And then we just didn’t get a good restart on the bottom and lost a couple spots and had to battle back and then just didn’t quite have the speed at the end of the race that we had the first 200 laps. All in all, it was a tough-fought day. We had to come from 24th at one point (at the start of the second stage), and just a hard-fought day, a good job by everybody and a solid third-place effort. Just didn’t have enough there at the end.”last_img read more

Accel-RF Announces Quantum SMART Bench-Top Semiconductor Test System

first_imgAccel-RF Instruments has “unplugged” the RF SMART Fixture from their automated test platform and made it available for bench-top testing. The Quantum-SMART enables concurrent testing for reliability validation, performance-characterization, and product qualification through RF-biased burn-in and product functional testing.The Quantum SMART fixture is a programmable self-contained DC bias and RF stimulus control module capable of synchronizing independent pulsed-bias and pulsed-RF signals to a device-under-test (DUT) or remote subsystem. The signals are controlled from a user-interface compatible with Accel-RF”s LIFETEST software. The fixture is capable of “active” temperature control and monitoring of a remote DUT through embedded firmware in the microprocessor.Unplugging the SMART Fixture from our accelerated life-test platform for use on a benchtop allows for a quantum reduction in the traditional semiconductor technology development roadmap. Implementing Accel-RF’s Quantum SMART solution provides both accelerated and enhanced return on investment (ROI) by launching products into the market at a much faster pace. The streamlined productivity of this test solution is crucial for rapid insertion of the new generation of Gallium-Nitride (GaN) and Silicon-Carbide (SiC) compound semiconductor technologies envisioned in key commercial and military market sectors.last_img read more

KNWR to Install Metal Walkways on Kenai River After Sockeye Run

first_imgPublic comment on the proposal closed in March and Conner says some of the most useful input came from communities like Soldotna who shared lessons they learned after putting in their own walkways. FacebookTwitterEmailPrintFriendly分享Public comments received in March supported the Kenai National Wildlife Refuge’s plan to install light-penetrating metal walkways along the Kenai River near the Russian River Confluence. The Refuge had hoped to get the walkways installed before this fishing season but since the proposal bid process has not started yet, the work will wait until after this year’s sockeye run. Conner: “Some of the advice we got was that if you put the walkways [down to the water] too far apart, people will just go over the side of the rail and go down the hill and it defeats the purpose. So they really emphasized that even if we don’t have the money up front to put as many walkways down, to at least have enough leniency built into the project where we can add staircases later, which was a great suggestion and until they brought it up hadn’t really thought about. So we’re looking at that and adding that to our whole engineering design.” Conner: “Starting from the confluence down to right about where the Russian River Ferry takes passengers over, is where the project stopped in 2006. We looked at that and decided to continue that project down another few hundred feet down the river to protect that side as well, adding down some walkways.” Chief of the Refuge’s Visitors Services Matt Conner says the aim of the project is to preserve the banks in that area by extending a project that was paused there about ten years ago. The Refuge previously reported that the estimated costs for the approximately 600 feet of walkways will be around $275,000.last_img read more

Driver sought after stop/go sign operator hurt in Ballybofey

first_imgThe operator of a ‘stop/go’ sign was hospitalised after a car allegedly drove over his feet in Ballybofey.The incident happened on the Donegal Road on Friday evening last.A car drove over the traffic worker’s feet and failed to stop. However, it is understood the identity of the car was noted at the scene.The Gardai were later informed and the incident is being investigated.The worker was taken to Letterkenny University Hospital for treatment but was later discharged.Driver sought after stop/go sign operator hurt in Ballybofey was last modified: September 6th, 2018 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:BallybofeydonegalgoSTOPlast_img read more

WCU to host congressional, state legislative debate series

first_imgWestern Carolina University’s Public Policy Institute and Department of Political Science and Public Affairs are seeking questions from Western North Carolina voters to be asked during a series of debates in September and October.Questions relevant to the races for U.S. House of Representatives District 11, N.C. House of Representatives District 119 and N.C. Senate District 50 should be submitted to the Public Policy Institute prior to each debate. Questions must be submitted by registered voters in the district, should be emailed to [email protected], and must include the name of the sender and the county of residence.The WCU Political Debate Series will get underway Friday, Sept. 23, with opponents for the U.S. House of Representatives District 11 – incumbent Mark Meadows (R-Jackson) and challenger Rick Bryson (D-Swain).That opening event will be followed on Wednesday, Oct. 12, by the candidates in the N.C. House of Representatives District 119 race pitting incumbent Joe Sam Queen (D-Haywood) against Mike Clampitt (R-Swain).Wrapping up the series Thursday, Oct. 27, will be the contenders for the N.C. Senate District 50 seat, with incumbent Jim Davis (R-Macon) and opponent Jane Hipps (D-Haywood).All three debates will be held in Room 204 of the Health and Human Sciences Building on WCU’s West Campus. Each debate will begin at 7 p.m. and will be broadcast live online by WLOS-TV on www.wlos.com. The events are open to the public free of charge. Doors open at 6:15 p.m.Providing an opportunity for residents of WNC to learn more about candidates for elected office is part of the university’s mission as a regional comprehensive institution, said Todd Collins, director of the Public Policy Institute.“Western Carolina University endeavors to be engaged with the region that it serves,” said Collins, who holds the David and Lois Steed Distinguished Professorship in Public Policy at WCU. “We hope that voters will embrace this opportunity to learn more about the issues that face our region and about the candidates seeking their votes. We encourage students, faculty, staff and members of the community to participate in the debates by submitting questions and to watch the debates in person or online. This will help them make informed decisions when they cast their ballots in November.”For more information about the WCU Political Debate Series, contact the Public Policy Institute at 828-227-3898.last_img read more

Africa ‘holds key to UN reform’

first_img18 May 2006Any hope for reform of the United Nations Security Council depends on movement in Africa’s position on veto powers for proposed new seats on the all-important UN organ, South African Deputy Foreign Minister Aziz Pahad said in Cape Town on Wednesday.With the G3 group of Germany, Brazil and India – called the G4 before Japan pulled out – calling for two non-veto-wielding permanent seats to be added to the five-member Security Council, and with the AU sticking to its position of two new veto-wielding permanent seats, progress towards reform now revolved largely around movement in the African position, Pahad said.Briefing reporters on progress made by the Cabinet’s international relations, peace and security cluster, Pahad said the South African government was not sure how much support the AU would get for its resolution when it came to a vote in the UN General Assembly.A committee of 10 heads of state tasked by the AU with looking into the matter had reported that there was “massive support” for Africa’s position, but this support would be tested when the matter went to the 191-member General Assembly, Pahad said.Whatever the outcome, reform of the UN organ tasked with ensuring global peace and security was “absolutely necessary”, Pahad said, “whether there is any commitment by any real players to a veto for the new members”.He said he doubted that there was any commitment from the five current permanent members – Russia, the US, the UK, France and China (the G5) – to giving new members veto powers.This was why the G3 had adopted an incremental approach, proposing that the matter of veto powers for new members be raised in 15 years’ time, along with only one extra non-permanent seat.But until the G3 had African support, it would be difficult for their proposal to pass through the UN, Pahad said, adding that if the G3 felt they could get at least some African support they would put it to a vote in July.“So everything now … depends on Africa at that July summit coming up with a position that can take the process forward – that’s the view of many countries, that unless Africa moves on the issue of the veto, there is no chance of this debate going forward.”The African position currently remains that any new members must have the same powers as the G5, a position which South Africa is adhering to but which is on the agenda for the forthcoming African Union summit in Gambia in July.Africa wants to have at least one permanent seat on the Security Council; it currently has three non-permanent seats, held by Ghana, Congo Brazzaville and Tanzania.The issue remained of serious concern to South Africa, Pahad said, because “unless there is reform of the UN Security Council we won’t get this body to be transparent enough, representative enough”.Better news for South Africa is that it was elected to be a member of the UN’s new Human Rights Council, with 179 members of the 191 countries that make up the UN voting for South Africa’s membership of the 45-member revamped, more powerful UN organ.Pahad said he hoped the new council would give greater attention to the concept of development as a human right.Source: BuaNewslast_img read more

SCCM SP1 & WS-MAN Translator: How vPro firmware versions less than 3.2.1 are supported

first_imgNote: This information is based off Microsoft System Center Configuration Manager 2007 SP1 RC and is subject to changes between now and RTM So as you read through the Microsoft documentation for SCCM SP1, you will most likely notice that Microsoft SCCM SP1 states they have native support for vPro clients with firmware versions 3.2.1 or higher. If Microsoft only natively supports vPro clients 3.2.1 or higher, you may be asking how vPro clients that are running firmware versions 2.x, 3.0, and 3.1 are supported. Not to worry; through the use of the Intel WS-MAN translator, SCCM SP1 will be able to provide provisioning and manageability support for earlier versions of vPro firmware. As part of SCCM SP1 Release Candidate, Microsoft has introduced integration support for the WS-MAN Translator (It was not available as part of the initial SCCM SP1 Beta release). In a future blog, we will provide a little more detail on the Install, Configuration, and SCCM Enablement of the WS-MAN translator; however, let us take this opportunity to talk little more about SCCM SP1 interaction with the WS-MAN Translator. So why doesn’t SCCM support earlier vPro firmware versions? The core reason is that SCCM only know how to communicate to vPro Clients in WS-MAN (Web Service Management). Prior to AMT firmware version 3.0, vPro Client only knew how to communicate in a protocol called EOI (External Operations Interface). So just like one person speaking English to another person that only understands French, when SCCM SP1 tries to communicate with a vPro client with a firmware version of 2.x, the vPro client does not understand what the management console wants it to do. So, simular to a person translating for our French and English speaking persons, the WS-Translator translates WS-MAN calls to EOI and from EOI to WS-MAN. Ok, so vPro clients with AMT version 3.0 know how to speak WS-MAN. Why do you need the translator for firmware version 3.0 and 3.1? Well without getting into the excessively technical details, there were some changes required in the AMT 3.x firmware to make SCCM SP1 work properly with vPro client running firmware 3.x; these changes were introduced in vPro firmware version 3.2.1. To allow for vPro firmware 3.0 and 3.1 to be supported, we were able to mask those changes that SCCM SP1 required in the WS-MAN Translator. The other thing that the WS-MAN translator enables is support for PSK vPro Client provisioning. Natively, Microsoft SCCM SP1 only supports PKI (also commonly referred to as Remote Configuration) for provisioning. vPro firmware version 3.0 supported PKI provisioning from the initial release; however, vPro firmware version 2.x did not received PKI provisioning support until versions 2.2 & 2.6. Although we recommend that you upgrade your vPro firmware to the latest version supported by the OEM, there may be some cases were upgrading 2.2 or 2.6 is not a viable option. So to support clients that are running 2.0, 2.1 and 2.5 firmware, the WS-MAN translator offers a means of supporting PSK provisioning. The key item to keep in mind about PSK support within the WS-MAN translator is that it only supports one PID/PPS pair; the same PID/PPS will be used for all your vPro Clients using PSK for provisioning. If desired, you can use PSK provision through the WS-MAN translator for all vPro firmware versions; however, since SCCM SP1 only uses the WS-MAN Translator for firmware versions less then 3.2.1 you are required to use PKI provisioning for any vPro Client firmware version 3.2.1 or higher. It is for this reason (and the fact that you can take advantage of vPro Remote Configuration) that we recommend you upgrade your vPro Clients to 2.2, 2.6, and 3.2.1 were supported by the OEM. If you have no vPro Clients in your environment that are less then firmware version 3.2.1, there is no need to use the WS-MAN translator; SCCM SP1 will natively provision and manage vPro clients without the need for the WS-MAN Translator. As previously noted, stay tuned for more information on vPro Expert Center about the WS-MAN translator in the next couple weeks. Matt Royerlast_img read more