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Aon Announces Additional $5.0 Billion Share Repurchase Program, Increasing Total Authorization to $6.1 Billion

PR Newswire

DUBLIN, Nov. 20, 2020 /PRNewswire/ — Aon plc (NYSE:AON) (“Aon”) announced today that its Board of Directors has authorized a new $5.0 billion share repurchase program.  The program is in addition to Aon’s existing share repurchase program previously authorized in February 2017, which had approximately $1.1 billion of remaining authorization, as of September 30, 2020.  Aon intends to complete the existing program before repurchasing shares under the newly authorized program.

“We are committed to maintaining our strong position of financial stability and flexibility, while continuing to allocate capital to the highest ROIC opportunities,” said Greg Case, Chief Executive Officer. “Today’s announcement demonstrates our conviction in our colleagues’ ability to drive long-term growth of the firm, which we believe will be further accelerated by our pending combination with Willis Towers Watson and result in significant shareholder value creation.”

Including the newly authorized program, up to $6.1 billion of Aon’s Class A ordinary shares may be purchased from time to time on the open market, in block trades, in privately negotiated transactions, pursuant to Rule 10b5-1 plans or otherwise, depending on market conditions or other factors. The program does not obligate Aon to acquire any particular amount of shares and may be suspended or discontinued at any time.

About Aon


Aon plc
 (NYSE:AON) Aon is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.

Follow Aon on Twitter: https://twitter.com/Aon_plc
Sign up for News Alerts: http://aon.mediaroom.com/index.php?s=58

Investor Contact:
Investor Relations
[email protected]
+1 312-381-3310

Media Contact:

Jason Gertzen

[email protected]

+1 312-381-3024

This communication contains certain statements related to future results, or states Aon’s intentions, beliefs and expectations or predictions for the future which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results depending on a variety of factors. These forward-looking statements include information about Aon’s new and existing share repurchase programs. All statements, other than statements of historical facts that address activities, events or developments that Aon expects or anticipates may occur in the future, including such things as its outlook, future capital expenditures, growth in commissions and fees, changes to the composition or level of its revenues, cash flow and liquidity, expected tax rates, business strategies, competitive strengths, goals, the benefits of new initiatives, growth of its business and operations, plans and references to future successes, are forward-looking statements. Also, when Aon uses the words such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, “plan”, “probably”, “potential”, “looking forward”, or similar expressions, it is making forward-looking statements.

The following factors, among others, could cause actual results to differ from those set forth in the forward looking statements: general economic and political conditions in different countries in which Aon does business around the world, including the U.K.’s withdrawal from the European Union; changes in the competitive environment or damage to Aon’s reputation; fluctuations in exchange and interest rates that could influence revenue and expenses; changes in global equity and fixed income markets that could affect the return on invested assets; changes in the funding status of Aon’s various defined benefit pension plans and the impact of any increased pension funding resulting from those changes; the level of Aon’s debt limiting financial flexibility or increasing borrowing costs; rating agency actions that could affect Aon’s ability to borrow funds; volatility in Aon’s tax rate due to a variety of different factors, including U.S. tax reform; changes in estimates or assumptions on Aon’s financial statements; limits on Aon’s subsidiaries to make dividend and other payments to Aon; the impact of lawsuits and other contingent liabilities and loss contingencies arising from errors and omissions and other claims against Aon; the impact of, and potential challenges in complying with, legislation and regulation in the jurisdictions in which Aon operates, particularly given the global scope of Aon’s businesses and the possibility of conflicting regulatory requirements across jurisdictions in which Aon does business; the impact of any investigations brought by regulatory authorities in the U.S., the U.K. and other countries; the impact of any inquiries relating to compliance with the U.S. Foreign Corrupt Practices Act and non-U.S. anti-corruption laws and with U.S. and non-U.S. trade sanctions regimes; failure to protect intellectual property rights or allegations that Aon infringes on the intellectual property rights of others; the effects of Irish law on Aon’s operating flexibility and the enforcement of judgments against Aon; the failure to retain and attract qualified personnel; international risks associated with Aon’s global operations; the effects of natural or man-made disasters, including the effects of COVID-19 and other health pandemics; the potential of a system or network breach or disruption resulting in operational interruption or improper disclosure of personal data; Aon’s ability to develop and implement new technology; the damage to Aon’s reputation among clients, markets or third parties; the actions taken by third parties that perform aspects of Aon’s business operations and client services; the extent to which Aon manages certain risks created in connection with the services, including fiduciary and investments, consulting, and other advisory services, among others, that Aon currently provides, or will provide in the future, to clients; Aon’s ability to continue, and the costs and the costs and risks associated with, growing, developing and integrating companies that it acquires or new lines of business; changes in commercial property and casualty markets, commercial premium rates or methods of compensation; changes in the health care system or Aon’s relationships with insurance carriers; Aon’s ability to implement initiatives intended to yield cost savings, and the ability to achieve those cost savings; Aon’s ability to realize the expected benefits from its restructuring plan; the possibility that the Combination will not be consummated; failure to obtain necessary shareholder or regulatory approvals or to satisfy any of the other conditions to the Combination; adverse effects on the market price of Aon’s securities and/or operating results for any reason, including, without limitation, because of the failure to consummate the Combination; the failure to realize the expected benefits of the Combination (including anticipated revenue and growth synergies); the failure to effectively integrate the combined companies following the Combination; significant transaction and integration costs or difficulties in connection with the Combination and or unknown or inestimable liabilities; potential litigation associated with the Combination; potential impact of the announcement or consummation of the Combination on relationships, including with suppliers, customers, employees and regulators; and general economic, business and political conditions (including any epidemic, pandemic or disease outbreak, including COVID-19) that affect the combined companies following the consummation of the Combination.

Any or all of Aon’s forward-looking statements may turn out to be inaccurate, and there are no guarantees about Aon’s performance. The factors identified above are not exhaustive. Aon and its subsidiaries operate in a dynamic business environment in which new risks may emerge frequently. Accordingly, you should not place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. Further information concerning Aon and its businesses, including factors that potentially could materially affect Aon’s financial results, is contained in Aon’s filings with the SEC. See Aon’s Annual Report on Form 10-K for the year ended December 31, 2019 and its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 , and September 30, 2020 for a further discussion of these and other risks and uncertainties applicable to Aon and its businesses. These factors may be revised or supplemented in subsequent reports. Aon is under no obligation, and expressly disclaims any obligation, to update or alter any forward-looking statement that it may make from time to time, whether as a result of new information, future events or otherwise.

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SOURCE Aon plc

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Centrus Announces Final Results of Its Cash Tender Offer to Purchase Its Series B Senior Preferred Stock

PR Newswire

BETHESDA, Md., Nov. 20, 2020 /PRNewswire/ — Centrus Energy Corp. (NYSE American: LEU) (“Centrus” or the “Company”) today announced the final results of its tender offer to purchase up to $60 million of its Series B Senior Preferred Stock, par value $1.00 per share (the “Series B Preferred Shares”), at a purchase price of $954.59 per share, less any applicable withholding taxes. This represents a 25% discount from the liquidation price per share. The offer expired at 5:00 p.m., Eastern time, on Tuesday, November 17, 2020.

The tender offer was oversubscribed. Pursuant to the terms of the tender offer, the Company has accepted for purchase 62,854 Series B Preferred Shares at a purchase price of $954.59 per share on a pro rata basis, for an aggregate purchase price of approximately $60 million. These shares represented approximately 60% of the Company’s outstanding Series B Preferred Shares as of September 30, 2020. The depositary has advised Centrus that the final proration factor was approximately 67.815% for the tender offer.

Based on the final tabulation by Computershare Trust Company, N.A., the depositary for the tender offer, approximately 92,735 shares of the Series B Preferred Shares were properly tendered and not properly withdrawn. The depositary will promptly issue payment for the shares properly tendered and accepted for purchase and will return all other shares tendered.

D.F. King & Co., Inc. served as information agent for the tender offer and Computershare Trust Company, N.A. is serving as the depositary for the tender offer.

Additional Information Regarding the Tender Offer

This communication is for informational purposes only, and it is neither an offer to purchase nor a solicitation of an offer to sell Centrus Series B Preferred Shares or any other securities. The offer was made solely by the tender offer statement on Schedule TO, as amended or supplemented, including the offer to purchase, letter of transmittal and related materials, filed with the United States Securities and Exchange Commission in connection with the tender offer.

About Centrus

Centrus is a trusted supplier of nuclear fuel and services for the nuclear power industry. Centrus provides value to its utility customers through the reliability and diversity of its supply sources – helping them meet the growing need for clean, affordable, carbon-free electricity. Since 1998, the Company has provided its utility customers with more than 1,750 reactor years of fuel, which is equivalent to 7 billion tons of coal.

With world-class technical capabilities, Centrus offers turnkey engineering and advanced manufacturing solutions to its customers. The Company is also advancing the next generation of centrifuge technologies so that America can restore its domestic uranium enrichment capability in the future. Find out more at www.centrusenergy.com.

Forward-Looking Statements

This press release contains statements that constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934.  In this context, forward-looking statements mean statements related to future events, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. These statements include statements regarding potential future purchases of additional shares.  Forwardlooking statements by their nature address matters that are, to different degrees, uncertain. Particular risks and uncertainties that could cause results to differ from those expressed in this press release include conditions in financial markets, response by Series B Preferred holders to a tender offer and other factors described in the Company’s filings with the Securities and Exchange Commission. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement. Accordingly, forward-looking statements should be not be relied upon as a predictor of actual results. Readers are urged to carefully review and consider the various disclosures made in this press release and in our other filings with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect our business. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this release, except as required by law.

Centrus Investor Contacts:

Investors: Dan Leistikow (301) 564-3399 or [email protected]
Media: Lindsey Geisler (301) 564-3392 or [email protected]  

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SOURCE Centrus Energy Corp.

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Imperial Stock Options Plan Approval

MONTRÉAL, Nov. 20, 2020 (GLOBE NEWSWIRE) — Imperial Mining Group Ltd. (“Imperial” or the “Corporation”) (TSX VENTURE: IPG) announces that it has updated its stock option plan from a fix stock options plan under which 3,366,985 common shares were reserved for issuance of as much options to a 10 % rolling stock options plan. This modification follows the approval of the Imperial’s shareholders at their annual and special meeting held on March 11, 2020 and is subject to the final approval by the TSX Venture Exchange.

ABOUT IMPERIAL MINING
GROUP LTD.

Imperial is a Canadian mineral exploration and development company focussed on the advancement of its copper-zinc, gold and technology metals properties in Québec. Imperial is publicly listed on the TSX Venture Exchange as “IPG” and is led by an experienced team of mineral exploration and development professionals with a strong track record of mineral deposit discovery in numerous metal commodities.


For further information please contact:

Peter J. Cashin
President and Chief Executive Officer
Tel: +1 (514) 360-0571
Email: [email protected]
URL: www.imperialmgp.com

Website:
www.imperialmgp.com ; Twitter: @imperial_mining ; Facebook: Imperial Mining Group

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



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PAE Completes Acquisition of CENTRA Technology

FALLS CHURCH, Va., Nov. 20, 2020 (GLOBE NEWSWIRE) — PAE (NASDAQ: PAE, PAEWW), a global leader in delivering smart solutions to the U.S. government and its allies, today announced that it has completed its acquisition of CENTRA Technology, Inc. The transaction brings new, value-added service and technology offerings to PAE’s portfolio, including intelligence analysis, communication systems integration and research and development services.

PAE President and CEO John Heller commented:

“The acquisition of CENTRA expands PAE’s addressable market into new, attractive mission-critical business areas, opening up important higher growth and margin market areas for the worldwide PAE enterprise. The combination of PAE’s and CENTRA’s capabilities and experience will position PAE to bid a significantly expanded pipeline of opportunities that were previously not actionable to PAE prior to the acquisition. In addition, through the combination with CENTRA, PAE adds uniquely qualified employees to our global workforce with subject matter expertise across a broad range of critical national security issues.”
  
This transaction brings together complementary capabilities and customer relationships, as well as an attractive IDIQ contract portfolio, to help accelerate PAE’s long-term growth strategy. The acquisition strengthens PAE’s intelligence, defense and national and homeland security businesses in areas of high priority for the U.S. federal government.

About PAE

For 65 years, PAE has tackled the world’s toughest challenges to deliver agile and steadfast solutions to the U.S. government and its allies. With a global workforce of approximately 20,000 on all seven continents and in approximately 60 countries, PAE delivers a broad range of operational support services to meet the critical needs of our clients. Our headquarters is in Falls Church, Virginia. Find us online at pae.com, on Facebook, Twitter and LinkedIn.

Forward-Looking Statements

This press release contains a number of “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our expectations and projections regarding the acquisition of CENTRA Technology, Inc., PAE’s possible or assumed future results of operations, financial results, backlog, estimation of resources for contracts, strategy for and management of growth, expansion of the business into high growth and margin market areas, needs for additional capital, risks related to government contracting generally, including failures to properly manage projects and subcontractors, susceptibility to claims, litigation and other disputes, and risks related to public health crises. These forward-looking statements are based on PAE’s management’s current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events.

These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside PAE’s management’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.

Forward-looking statements included in this release speak only as of the date of this release. PAE does not undertake any obligation to update its forward-looking statements to reflect events or circumstances after the date of this release except as may be required by the federal securities laws.

For investor inquiries regarding PAE:

Mark Zindler
Vice President Investor Relations
PAE
703-717-6017
[email protected]

For media inquiries regarding PAE:

Terrence Nowlin
Senior Communications Manager
PAE
703-656-7423
[email protected]



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Freddie Mac Prices $891 Million Multifamily K-Deal, K-F93

MCLEAN, Va., Nov. 20, 2020 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) has priced a new offering of Structured Pass-Through Certificates (K Certificates), which includes a class of floating rate bonds indexed to the Secured Overnight Financing Rate (SOFR). The approximately $891 million in K Certificates (K-F93 Certificates) are expected to settle on or about December 3, 2020. The K-F93 Certificates are backed by floating-rate multifamily mortgages with 7-year terms, which are currently LIBOR-based.

K-F93 includes one class (Class AL) of senior bonds indexed to LIBOR and another class (Class AS) of senior bonds indexed to SOFR. Freddie Mac will provide a basis risk guarantee on Class AS that covers any floating interest rate basis risk if the value of SOFR exceeds the value of LIBOR.

K-
F
93
Pricing

Class Principal/Notional
Amount (mm) 		Weighted
Average
Life (Years) 		Discount
Margin 		Coupon Dollar Price
AL $491.564 6.63 28 1 mo LIBOR + 28 100.000
AS $400.000 6.63 31 30-day SOFR avg + 31 100.000
X Non-Offered



Details

  • Co-Lead Managers and Joint Bookrunners: J.P. Morgan Securities LLC and Citigroup Global Markets Inc.
  • Co-Managers: BofA Securities, Inc., CastleOak Securities, L.P., Credit Suisse Securities (USA) LLC and Mizuho Securities USA LLC

Related Links

The K-F93 Certificates will not be rated, and will include two senior principal and interest classes and one interest-only class that is also entitled to static prepayment premiums. The K-F93 Certificates are backed by corresponding classes issued by the FREMF 2020-KF93 Mortgage Trust (KF93 Trust) and guaranteed by Freddie Mac. The KF93 Trust will also issue certificates consisting of the Class C and R Certificates, which will be subordinate to the classes backing the K-F93 Certificates and will not be guaranteed by Freddie Mac.

Freddie Mac Multifamily is a leading issuer of agency-guaranteed structured multifamily securities. K-Deals are part of the company’s business strategy to transfer a portion of the risk of losses away from taxpayers and to private investors who purchase the unguaranteed subordinate bonds. K Certificates typically feature a wide range of investor options with stable cash flows and structured credit enhancement.

This announcement is not an offer to sell any Freddie Mac securities. Offers for any given security are made only through applicable offering circulars and related supplements, which incorporate Freddie Mac’s Annual Report on Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission (SEC) on February 13, 2020; all other reports Freddie Mac filed with the SEC pursuant to Section 13(a) of the Securities Exchange Act of 1934 (Exchange Act) since December 31, 2019, excluding any information “furnished” to the SEC on Form 8-K; and all documents that Freddie Mac files with the SEC pursuant to Sections 13(a), 13(c) or 14 of the Exchange Act, excluding any information “furnished” to the SEC on Form 8-K.

Freddie Mac’s press releases sometimes contain forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, some of which are beyond the company’s control. Management’s expectations for the company’s future necessarily involve a number of assumptions, judgments and estimates, and various factors could cause actual results to differ materially from the expectations expressed in these and other forward-looking statements. These assumptions, judgments, estimates and factors are discussed in the company’s Annual Report on Form 10-K for the year ended December 31, 2019, and its reports on Form 10-Q and Form 8-K, which are available on the Investor Relations page of the company’s Web site at www.FreddieMac.com/investors and the SEC’s website at www.sec.gov. The company undertakes no obligation to update forward-looking statements it makes to reflect events or circumstances occurring after the date of this press release. The multifamily investors section of the company’s Web site at https://mf.freddiemac.com/investors/ will also be updated, from time to time, with any information on material developments or other events that may be important to investors, and we encourage investors to access this website on a regular basis for such updated information.

The financial and other information contained in the documents that may be accessed on this page speaks only as of the date of those documents. The information could be out of date and no longer accurate. Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

MEDIA CONTACT:
Michael Morosi

(703) 918-5851

Michael_Morosi
@FreddieMac.com

INVESTOR CONTACT
S
: Robert Koontz

571-382-4082

Amanda Nunnink

312
–
407-7510



Posted on

NORTHWEST INDIANA BANCORP ANNOUNCES FOURTH QUARTER DIVIDEND

Munster, Indiana, Nov. 20, 2020 (GLOBE NEWSWIRE) — NorthWest Indiana Bancorp, the parent company for Peoples Bank, today announced that the Board of Directors of the Bancorp declared a dividend of $0.31 per share payable on January 8, 2021, with a record date of December 28, 2020.


About NorthWest Indiana Bancorp

NorthWest Indiana Bancorp is a locally managed and independent financial holding company headquartered in Munster, Indiana, whose activities are primarily limited to holding the stock of Peoples Bank. Peoples Bank provides a wide range of personal, business, electronic and wealth management financial services from its 22 locations in Lake and Porter Counties in Northwest Indiana and South Chicagoland. NorthWest Indiana Bancorp’s common stock is quoted on the OTC Pink Marketplace and the OTC Bulletin Board under the symbol NWIN. The website ibankpeoples.com provides information on Peoples Bank’s products and services, and NorthWest Indiana Bancorp’s investor relations.


Forward Looking Statements

This press release may contain forward-looking statements regarding the financial performance, business prospects, growth, and operating strategies of NWIN.  For these statements, NWIN claims the protections of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.  Statements in this communication should be considered in conjunction with the other information available about NWIN, including the information in the filings NWIN makes with the SEC.  Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance.  The forward-looking statements are based on management’s expectations and are subject to a number of risks and uncertainties.  Forward-looking statements are typically identified by using words such as “anticipate,” “estimate,” “project,” “intend,” “plan,” “believe,” “will” and similar expressions in connection with any discussion of future operating or financial performance.

Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements.  Risks and uncertainties that could cause actual results to differ materially include: the significant risks and uncertainties for our business, results of operations, and financial condition, as well as our regulatory capital and liquidity ratios and other regulatory requirements caused by the COVID-19 pandemic, which will depend on several factors, including the scope and duration of the pandemic, its influence on financial markets, the effectiveness of our remote work arrangements and staffing levels in branches and other operational facilities, and actions taken by governmental authorities and other third parties in response to the pandemic; changes in asset quality and credit risk; the inability to sustain revenue and earnings growth; changes in interest rates, market liquidity, and capital markets, as well as the magnitude of such changes, which may reduce net interest margins; inflation; customer acceptance of NWIN’s products and services; customer borrowing, repayment, investment, and deposit practices; customer disintermediation; the introduction, withdrawal, success, and timing of business initiatives; competitive conditions; the inability to realize cost savings or revenues or to implement integration plans and other consequences associated with mergers, acquisitions, and divestitures; economic conditions; and the impact, extent, and timing of technological changes, capital management activities, and other actions of the Federal Reserve Board and legislative and regulatory actions and reforms.

In addition to the above factors, we also caution that the actual amounts and timing of any future common stock dividends or share repurchases will be subject to various factors, including our capital position, financial performance, capital impacts of strategic initiatives, market conditions, and regulatory and accounting considerations, as well as any other factors that our Board of Directors deems relevant in making such a determination. Therefore, there can be no assurance that we will repurchase shares or pay any dividends to holders of our common stock, or as to the amount of any such repurchases or dividends. Further, statements about the effects of the COVID-19 pandemic on our business, operations, financial performance, and prospects may constitute forward-looking statements and are subject to the risk that the actual impacts may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable, and in many cases beyond our control, including the scope and duration of the pandemic, actions taken by governmental authorities in response to the pandemic, and the direct and indirect impact of the pandemic on our customers, third parties, and us.



FOR FURTHER INFORMATION
CONTACT BENJAMIN BOCHNOWSKI
(219) 853-7575

Posted on

Moog Announces Share Repurchase Program

Moog Announces Share Repurchase Program

EAST AURORA, N.Y.–(BUSINESS WIRE)–
Moog Inc. (NYSE: MOG.A and MOG.B) announced today that its Board of Directors has approved a share repurchase program.

Under the authorization, the Company will be able to acquire an aggregate of 3,000,000 shares of its Class A and Class B common stock at management’s discretion. The timing of repurchases will depend upon several factors, including capital deployment priorities and market and business conditions. The program may be discontinued at any time.

“Our cash flow was very strong in FY 2020,” said John Scannell, Chairman and CEO. “Share repurchases afforded us the opportunity to return $215 million of value to our shareholders during the year and we are pleased to have the flexibility to continue this program.”

The transactions will be made in accordance with rules and regulations of the U.S. Securities and Exchange Commission and other rules that govern such purchases.

Cautionary Statement

Information included or incorporated by reference in this report that does not consist of historical facts, including statements accompanied by or containing words such as “may,” “will,” “should,” “believes,” “expects,” “expected,” “intends,” “plans,” “projects,” “approximate,” “estimates,” “predicts,” “potential,” “outlook,” “forecast,” “anticipates,” “presume” and “assume,” are forward-looking statements. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company’s current views with respect to certain current and future events and financial performance and are not guarantees of future performance. This includes but is not limited to, the Company’s expectation and ability to pay a quarterly cash dividend on its common stock in the future, subject to the determination by the board of directors, and based on an evaluation of company earnings, financial condition and requirements, business conditions, capital allocation determinations and other factors, risks and uncertainties. The impact or occurrence of these could cause actual results to differ materially from the expected results described in the forward-looking statements. These important factors, risks and uncertainties include:

COVID-19 Pandemic Risks

  • We face various risks related to health pandemics such as the global COVID-19 pandemic, which may have material adverse consequences on our operations, financial position, cash flows, and those of our customers and suppliers.

Strategic Risks

  • We operate in highly competitive markets with competitors who may have greater resources than we possess;
  • Our new products and technology research and development efforts are substantial and may not be successful which could reduce our sales and earnings;
  • Our inability to adequately enforce and protect our intellectual property or defend against assertions of infringement could prevent or restrict our ability to compete; and
  • Our sales and earnings may be affected if we cannot identify, acquire or integrate strategic acquisitions, or as we conduct divestitures.

Market Condition Risks

  • The markets we serve are cyclical and sensitive to domestic and foreign economic conditions and events, which may cause our operating results to fluctuate;
  • We depend heavily on government contracts that may not be fully funded or may be terminated, and the failure to receive funding or the termination of one or more of these contracts could reduce our sales and increase our costs;
  • The loss of The Boeing Company as a customer or a significant reduction in sales to The Boeing Company could adversely impact our operating results; and
  • We may not realize the full amounts reflected in our backlog as revenue, which could adversely affect our future revenue and growth prospects.

Operational Risks

  • Our business operations may be adversely affected by information systems interruptions, intrusions or new software implementations;
  • We may not be able to prevent, or timely detect, issues with our products and our manufacturing processes which may adversely affect our operations and our earnings;
  • If our subcontractors or suppliers fail to perform their contractual obligations, our prime contract performance and our ability to obtain future business could be materially and adversely impacted; and
  • The failure or misuse of our products may damage our reputation, necessitate a product recall or result in claims against us that exceed our insurance coverage, thereby requiring us to pay significant damages.

Financial Risks

  • We make estimates in accounting for over-time contracts, and changes in these estimates may have significant impacts on our earnings;
  • We enter into fixed-price contracts, which could subject us to losses if we have cost overruns;
  • Our indebtedness and restrictive covenants under our credit facilities could limit our operational and financial flexibility;
  • The phase out of LIBOR may negatively impact our debt agreements and financial position, results of operations and liquidity;
  • Significant changes in discount rates, rates of return on pension assets, mortality tables and other factors could adversely affect our earnings and equity and increase our pension funding requirements;
  • A write-off of all or part of our goodwill or other intangible assets could adversely affect our operating results and net worth; and
  • Unforeseen exposure to additional income tax liabilities may affect our operating results.

Legal and Compliance Risks

  • Contracting on government programs is subject to significant regulation, including rules related to bidding, billing and accounting standards, and any false claims or non-compliance could subject us to fines, penalties or possible debarment;
  • Our operations in foreign countries expose us to political and currency risks and adverse changes in local legal and regulatory environments;
  • Government regulations could limit our ability to sell our products outside the United States and otherwise adversely affect our business;
  • We are involved in various legal proceedings, the outcome of which may be unfavorable to us; and
  • Our operations are subject to environmental laws, and complying with those laws may cause us to incur significant costs.

General Risks

  • The United Kingdom’s decision to exit the European Union may result in short-term and long-term adverse impacts on our results of operations;
  • Escalating tariffs, restrictions on imports or other trade barriers between the United States and various countries may impact our results of operations;
  • Future terror attacks, war, natural disasters or other catastrophic events beyond our control could negatively impact our business; and
  • Our performance could suffer if we cannot maintain our culture as well as attract, retain and engage our employees.

These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. Given these factors, risks and uncertainties, investors should not place undue reliance on forward-looking statements as predictive of future results. We disclaim any obligation to update the forward-looking statements made in this report.

Ann Marie Luhr

716-687-4225

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Aerospace Manufacturing

MEDIA:

Posted on

Neenah Renews Share Repurchase Plan

Neenah Renews Share Repurchase Plan

ALPHARETTA, Ga.–(BUSINESS WIRE)–
Neenah, Inc. (NYSE: NP) announced that on November 19, 2020, its Board of Directors renewed the Company’s share repurchase plan for up to $25 million of its outstanding common stock effective January 2021. The current share repurchase plan remains in effect through December 31, 2020.

Purchases by the Company under the program would be made from time to time in the open market or in privately negotiated transactions in accordance with the requirements of applicable law. The timing and amount of any purchases will depend on share price, market conditions and other factors. The program does not require the Company to purchase any specific number of shares and may be suspended or discontinued at any time.

About Neenah

Neenah is a leading global specialty materials company focused on premium niche markets that value performance and image. Key products and markets include advanced filtration media, specialized performance substrates used for digital transfer, tape and abrasive backings, labels and other products, and premium printing and packaging papers. The Company is headquartered in Alpharetta, Georgia and its products are sold in over 80 countries worldwide from manufacturing operations in the United States, Europe and the United Kingdom. Additional information can be found at the Company’s web site, www.neenah.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking” statements as defined in Section 27A of the Securities Act of 1933 (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), the Private Securities Litigation Reform Act of 1995 (the “PSLRA”), or in releases made by the U.S. Securities and Exchange Commission (“SEC”), all as may be amended from time to time. Statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of the PSLRA and we caution investors that any forward-looking statements we make are not guarantees or indicative of future performance. These forward-looking statements rely on a number of assumptions concerning future events and are subject to risks, uncertainties and other factors, many of which are outside of our control and could cause actual results to materially differ from such statements. Such risks, uncertainties and other factors include, but are not necessarily limited to, those set forth under the captions “Cautionary Note Regarding Forward-Looking Statements” and/or “Risk Factors” of our latest Form 10-K filed with the SEC as periodically updated by subsequently filed Form 10-Qs (these securities filings can be located on our website at www.neenah.com). Unless specifically required by law, we assume no obligation to update or revise these forward-looking statements to reflect new events or circumstances. These cautionary statements are being made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefits of the “safe harbor” provisions of such laws.

Neenah, Inc.

Bill McCarthy

Vice President Investor Relations

678-518-3278

KEYWORDS: Georgia United States North America

INDUSTRY KEYWORDS: Packaging Other Manufacturing Manufacturing

MEDIA:

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Avolon Announces Pricing of US$675 Million Term Loan B Facility

Avolon Announces Pricing of US$675 Million Term Loan B Facility

New Term Loan B-5 Tranche Upsized by $175m to $675m from $500m

DUBLIN–(BUSINESS WIRE)–
Avolon Holdings Limited (“Avolon”), the international aircraft leasing company, announces the successful pricing of a US$675 million Term Loan B Facility (the “Facility”). The Facility, which has a maturity date of December 2027, has been priced at LIBOR plus 2.50% with a LIBOR floor of 0.75%, and is subject to an Original Issue Discount (OID) of 99.00.

ENDS

About Avolon

Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a public company listed on the Shenzhen Stock Exchange (SLE: 000415) and 30% owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation which is listed on the Tokyo and New York Stock Exchanges (TSE: 8591; NYSE: IX). Avolon is the world’s third largest aircraft leasing business with an owned, managed and committed fleet, as of 30 September 2020 of 837 aircraft.

Website: www.avolon.aero

Twitter: @avolon_aero

Note Regarding Forward-Looking Statements

This document includes forward-looking statements, beliefs or opinions, including statements with respect to Avolon’s business, financial condition, results of operations and plans. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond our control and all of which are based on our management’s current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as “believe,” “expects,” “may,” “will,” “could,” “should,” “shall,” “risk,” “intends,” “estimates,” “aims,” “plans,” “predicts,” “continues,” “assumes,” “positioned” or “anticipates” or the negative thereof, other variations thereon or comparable terminology or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. Forward-looking statements may and often do differ materially from actual results. No assurance can be given that such future results will be achieved, that any private placement of senior unsecured notes will occur following the investor calls or, regardless of whether a private placement of senior unsecured notes is consummated, that any ratings agencies will upgrade Avolon to investment grade. Avolon does not intend, and undertakes no duty, to update any information contained herein to reflect future events or circumstances, except as required by applicable law.

Ross O’Connor

Head of Investor Relations

[email protected]

T: +353 1 231 5818

Emmet Moloney

Head of Communications

[email protected]

T: +353 1 556 4429

Jonathan Neilan

FTI Consulting

[email protected]

M: +353 86 231 4135

KEYWORDS: North America United States Ireland United Kingdom Europe

INDUSTRY KEYWORDS: Professional Services Air Transport Finance

MEDIA:

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Fonteva Ranks Tenth Fastest Growing Private Company in the DC Area

ARLINGTON, VA, Nov. 20, 2020 (GLOBE NEWSWIRE) — via NewMediaWire ‒ Fonteva is excited to announce that as it celebrates its tenth anniversary it has been named the tenth fastest growing private company in the greater Washington, DC area by the Washington Business Journal. The announcement was made as part of the Washington Business Journal’s Fastest Growing Companies awards reception, which was held virtually on October 21, 2020.

The 2020 list included the 75 fastest growing private companies in the greater Washington area, with ranking based on a three year growth rate.

“As we look back on our first 10 years and continue to grow and mature as a company, it’s exciting to see that we’ve been able to sustain a growth rate among the most successful companies in the region and nation,” said Fonteva CEO and co-founder Jerry Huskins. “We’re proud to have built a company in the Washington, DC area, and it means a lot to earn a top 10 ranking amongst the incredibly diverse collection of companies on this year’s list.”

In addition to recognition by the Washington Business Journal, Fonteva earned a ranking position on the Inc. 5000 list of fastest growing companies for the seventh consecutive year.

About Fonteva

Fonteva, a Salesforce Partner since 2010, is the leading provider of membership, events, and eCommerce solutions built on the Salesforce platform. At the heart of everything Fonteva does is its quest to equip and empower its customers to meet the unique needs of their communities. By harnessing the power of the Salesforce platform for membership and event management, Fonteva delivers highly configurable solutions that grow and strengthen the relationships that organizations are built on. Visit Fonteva at www.fonteva.com.

Contact:

Evan Thomas
1-844-662-6346
[email protected]