The Istanbul Film Festival is 40 years old

The 40th Istanbul Film Festival has started on April 1st at filmonline.iksv.org with 20 films' online premieres. This year, the festival spans April, May and June with a new screening program. First…
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  • United Kingdom (UK) Private Landlord Insurance Market Report 2021: Market was Worth 716.8m in 2020 – Forecast to 2025 – ResearchAndMarkets.com

    DUBLIN–(BUSINESS WIRE)–The “United Kingdom (UK) Private Landlord Insurance 2021” report has been added to ResearchAndMarkets.com’s offering.

    We estimate the residential landlord insurance market was worth £716.8m in 2020, having contracted in recent years.

    This report estimates the size of the UK’s residential landlord insurance market and explores how it has changed in recent years at a time when the buy-to-let sector has been hit by a host of regulatory changes. The tightening of regulation has led to a shift in the profile of landlords, which in turn has changed their insurance needs.

    The report discusses drivers of the buy-to-let and private residential markets, which directly impact the private landlord insurance market. The report presents market size forecast data out to 2025.

    The once buoyant market has been vulnerable to the fate of landlords. The profitability of buy-to-let (BTL) investors has been squeezed by a raft of tax and regulatory changes, forcing some landlords to sell their properties and exit the market. While there are fewer landlords in the market, on average those that continue to operate have more properties.

    Multi-property policies are best suited to portfolio landlords, given the convenience of protecting all properties under one policy, but premiums come at a discounted price. The residential landlord insurance market is set for a bumpy ride going forward. COVID-19 has shifted tenant preferences away from city centers to more rural locations. Some investors may hold off on acquiring further properties until it is clear whether this change is temporary or long term.

    Scope

    • The residential landlord insurance market was worth £716.8m in 2020.
    • Underinsurance remains the greatest opportunity for insurers, with 41.4% of landlords not having specialist cover or protecting their investment property at all.
    • The tightening of legislation has forced some landlords to exit the market, leading to new emerging client groups.
    • COVID-19 has eroded business from home-sharing platforms, forcing some landlords to switch their properties to traditional long-term lets.

    Reasons to Buy

    • Understand the size of the UK’s private residential landlord insurance market and how it is projected to grow.
    • Identify the key trends and regulations shaping the private landlord insurance market.
    • Understand the changing demographics of landlords and their insurance needs.
    • Identify key players in the private landlord insurance market and to what extent they are providing innovative solutions
    • Benchmark your company against the rest of the market.

    Key Topics Covered:

    1. Executive Summary

    1.1 The residential landlord insurance market has shrunk as landlords feel the BTL squeeze

    1.2 Key findings

    1.3 Critical success factors

    2. Residential Landlord Insurance and Private Residential Market Overview

    2.1 The residential landlord insurance market has contracted

    2.2 A swathe of regulatory changes have made the BTL market less attractive for investors

    2.3 COVID-19 stirs property prices to an all-time high

    3. The Profile of Landlords

    3.1 The profile of landlords is changing

    4. Competitive Landscape and Product Distribution

    4.1 Key players and elements of cover

    4.2 Distribution dynamics

    5. The Market Going Forward

    5.1 The UK private landlord insurance market will stabilize

    6. Appendix

    Companies Mentioned

    • Admiral
    • Aviva
    • Direct Line
    • Halifax
    • CIA Insurance Pikl
    • Guardhog
    • Lloyds Banking Group
    • Airbnb
    • Homestay
    • Wimdu
    • onefinestay
    • RSA
    • Vrbo
    • Aon
    • Generali Global Assistance
    • More Than
    • Churchill
    • Privilege
    • Home Protect
    • Intelligent Insurance

    For more information about this report visit https://www.researchandmarkets.com/r/sqaxma

    Contacts

    ResearchAndMarkets.com

    Laura Wood, Senior Press Manager

    press@researchandmarkets.com
    For E.S.T Office Hours Call 1-917-300-0470

    For U.S./CAN Toll Free Call 1-800-526-8630

    For GMT Office Hours Call +353-1-416-8900

  • 2021 UK Motor Insurance Consumer Research Report – ResearchAndMarkets.com

    DUBLIN–(BUSINESS WIRE)–The “UK Motor Insurance Consumer Research Report 2021” report has been added to ResearchAndMarkets.com’s offering.

    In 2021, 71% of consumers said they owned car insurance, which is the same percentage as in 2019. This means around 37 million consumers own motor insurance. The penetration of consumers who own motor insurance tends to rise with age, social grade and household income.

    A new customer journey begins each year. Each year, over 90% of motor insurance policyholders are existing policyholders and their choice comes down to either renewing with an existing provider (around half renew each year) or switching from one provider to another (around four-in-ten switch each year). Less than 10% of consumers embarking on a new customer journey each year are new market entrants – i.e., buying motor insurance for the first time. Even if renewing, policyholders generally still embark on a new customer journey: over eight-in-ten of policyholders renewing still search for alternatives policies and/or negotiate for a revised deal from their provider before they agree to renew.

    Just over one-in-five policyholders have made a claim on their motor insurance within the past five years, with just under one-in-ten claiming within the past year. Comparing claimants who have claimed in the past year with those who claimed 2 to 5 years ago, shows a drop in satisfaction among those claiming in the past year, based on the fact that outcomes worsened slightly, and the process seemed harder. One feature of the motor insurance market in the Pandemic has been the greater use of digital technologies and artificial intelligence to assess claims and damage to a car (if involved in a road traffic accident). Policyholders claiming in the past year are the most likely to have encountered the automated claims handling systems widely used by the main providers during the Pandemic: this could have lowered the satisfaction of these policyholders.

    One-third of motor insurance policyholders have been impacted by COVID-19 when it comes to their motor insurance. The most common actions/experiences centre on premiums – either switching provider/policy to save money or being offered a rebate by their provider. The policyholders most impacted by COVID-19 tend to be younger professional policyholders, aged under the age of 45, from the AB social grades, who have made a recent claim.

    Other findings from the report, include:

    • Motor insurance policyholders are price-focused. A large majority put price first when evaluating a policy and cover second. However, the final price paid, and the level of cover achieved by policyholders is often the outcome of policyholder/insurance provider negotiation: almost seven in ten policyholders negotiate with their provider before buying a policy.
    • When looking for insurance deals at the start of a customer journey, price comparison websites (PCWs) are by far the most popular resource. When it comes to purchasing, policyholders tend to buy their policies either directly from the provider or via PCWs. Other purchase channels show little usage.
    • When buying insurance, consumers continue to see each car in the home as a distinct item to insure, so few have multi-car cover and few opt for multicover policies.
    • Less than one-in-ten policyholders have a telematics insurance policy and penetration has changed little between 2019 and 2021, but there has been an increase in a willingness to get a telematics policy among policyholders without a policy at the moment.
    • Many policyholders bundle extra cover with their motor insurance policy: along with their motor insurance, almost four-in-ten take out motor legal protection and almost one-in-five breakdown cover.
    • Motor insurance policyholders show a liking for the security of high levels of insurance cover rather than being content with the bear minimum of protection. While most like to buy online they also show a relatively high willingness to get advice.

    This report examines the motivations, experiences and opinions of the UK motor insurance customer. It will identify and analyse consumer attitudes towards motor insurance, look at the claims experience of drivers, and investigate why they choose one route to purchase over another. In addition, it will explore how price sensitivity is impacting the market and how COVID-19 has affected behaviours and experiences. Similar research was run in 2019 and comparisons between results in 2019 and 2021 are also made

    Key Topics Covered:

    • Seven-in-ten consumers own car insurance.
    • The insured prefer standalone, mainstream policies.
    • Motor insurance policyholders like to minimise their risks.
    • The customer journey merry-go-round
    • Policyholders like to discover deals online, mainly via PCWs.
    • Policies are purchased via PCWs or direct.
    • Motor insurance purchases are price focused.
    • Brands are important but are not everything.
    • Most policyholders have a good experience.
    • Less than one-in-ten have claimed in the past year.
    • The claims process seems to run smoothly for most.
    • Almost one-third have been impacted by COVID-19.

    For more information about this report visit https://www.researchandmarkets.com/r/lut5lb

    About ResearchAndMarkets.com

    ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

    Contacts

    ResearchAndMarkets.com

    Laura Wood, Senior Press Manager

    press@researchandmarkets.com

    For E.S.T Office Hours Call 1-917-300-0470

    For U.S./CAN Toll Free Call 1-800-526-8630

    For GMT Office Hours Call +353-1-416-8900

  • Options Technology Announces Acquisition of Fixnetix from DXC Technology

    LONDON & NEW YORK–(BUSINESS WIRE)–Options Technology, a leading provider of IT infrastructure to global Capital Markets firms backed by Abry Partners, today announced it had closed on its acquisition of Fixnetix, a DXC Technology Company (NYSE: DXC). Financial terms of the agreement were not disclosed.

    Fixnetix provides outsourced front-office trading services to investment banks, hedge funds, proprietary trading firms and exchanges worldwide and was part of DXC’s global banking and capital markets business. This deal supports Options’ growth strategy and combines two industry leading teams committed to optimising the service offered to their customers across the financial sector. As a result of the acquisition, clients can avail of the extensive market data footprint covering the US, European and Asian Markets alongside ground-breaking R&D capabilities, including industry leading automation, monitoring and testing competences.

    “We are excited to reach this important milestone with Fixnetix and view this acquisition as an opportunity to expand our service capabilities whilst providing further value for our customers and the overall market,” said Danny Moore, Options’ President and Chief Executive Officer. “Fixnetix and Options are highly complementary, and the deal combines Options’ comprehensive coverage in the US and Asia with Fixnetix’s European offering, allowing us to provide existing customers with the agility they need to respond to rapid changes in market dynamics.”

    Tomer Yosef-Or, a Partner at Abry, said, “We are delighted to be able to support Options in this exciting transaction. We continue to be impressed by the Fixnetix’s team’s capabilities and believe the combination, supported with our capital, will provide enhanced quality and breadth of services to existing and new customers. The collaboration we have already seen between the two companies gives us great optimism in the ultimate potential for the organization. We are excited to bring this transaction to a close and move forward together with the united strategy of building a leading and differentiated global IT Managed Service Provider highly focused on the financial services vertical.”

    About Options (www.options-it.com):

    Options Technology is the No. 1 provider of IT infrastructure to global Capital Markets firms, supporting their operations and ecosystems.

    Founded in 1993, the firm began life as a hedge fund technology services provider. Today, the company provides high-performance managed trading infrastructure and cloud-enabled managed services to over 200 firms globally, providing an agile, scalable platform in an Investment Bank grade Cybersecurity wrapper.

    Options clients include the leading global investment banks, hedge funds, funds of funds, proprietary trading firms, market makers, broker/dealers, private equity houses and exchanges. With offices in 8 key cities; New York, Toronto, Chicago, London, Belfast, Hong Kong, Singapore and New Zealand, Options are well placed to service their customers both on-site and remotely.

    In 2019, Options secured a significant growth investment from Abry Partners, a Boston-based sector-focused private equity firm. This investment has enabled Options to considerably accelerate its growth strategy to invest further in its technology platform and expand its reach in key financial centres globally.

    Options has been named among the UK’s leading growth companies in the 2021, 2020, 2019, 2018 and 2017 Sunday Times HSBC International Track 200 league table.

    For more on Options, please visit www.options-it.com, follow us on Twitter at @Options_IT and visit our LinkedIn page.

    About Abry Partners (www.abry.com)

    Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since its founding in 1989, the firm has completed over $82 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5.0 billion of capital across their active funds.

    Contacts

    Press: Page McLaughlin

    Email: page.mclaughlin@options-it.com

  • Pershing Square Holdings, Ltd.: Notification and Public Disclosure of Transactions

    LONDON–(BUSINESS WIRE)–Regulatory News:

    Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) notes that the information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018.

    1.

    Details of the person discharging managerial responsibilities / person closely associated

    a)

    Name

    WAFH LLC

    2.

    Reason for the notification

    a)

    Position / status

    Person closely associated with William A. Ackman, CEO of investment manager to issuer

    b)

    Initial notification / amendment

    Initial

    3.

    Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

    a)

    Name

    Pershing Square Holdings, Ltd.

    b)

    LEI

    U7LC4KOKCTZ0YWGI2G56

    4.

    Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

    a)

    Description of the financial instrument, type of instrument

    1.

    Public Shares (Share A)

    2.

    Public Shares (Share A)

    3.

    Put Option

     

    Identification code (ISIN)

    1.

    GG00BPFJTF46

    2.

    GG00BPFJTF46

    3.

    NA

    b)

    Nature of the transaction

    1.

    Exercise of call options to acquire Public Shares

    2.

    Distribution

    3.

    Termination of put option

    c)

    Price(s) and volume(s)

     

    Price(s)

    Volume(s)

    1.

    15.90 USD

    7,000,000

     

    20.53 USD

    7,000,000

    2.

    NA

    14,000,000

    3.

    NA

    7,000,000

    d)

    Aggregate information:

    – Aggregated volume

    – Price

     

    Volume

    (aggregate)

    Price

    (aggregate)

    1.

    14,000,000

    18.215 USD

    2.

    14,000,000

    NA

    3.

    7,000,000

    NA

    e)

    Date of transaction

    1.

    29 March 2021

    2.

    31 March 2021

    3.

    29 March 2021

    f)

    Place of the transaction

    1.

    Outside a trading venue

    2.

    Outside a trading venue

    3.

    Outside a trading venue

    Remarks: WAFH LLC, which is wholly owned by William A. Ackman, exercised call options referencing 14,000,000 Public Shares and distributed such Public Shares to William A. Ackman upon settlement. WAFH LLC also terminated put options referencing 7,000,000 Public Shares.

    About Pershing Square Holdings, Ltd.

    Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) is an investment holding company structured as a closed-ended fund that makes concentrated investments principally in North American domiciled companies.

    Category: (PSH:InsiderTransactions)

    Contacts

    Media
    Camarco
    Ed Gascoigne-Pees / Hazel Stevenson +44 020 3757 4989, Media-PershingSquareHoldings@camarco.co.uk

  • Pershing Square Holdings, Ltd.: Notification and Public Disclosure of Transactions

    LONDON–(BUSINESS WIRE)–Regulatory News:

    Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) notes that the information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018.

    1.

    Details of the person discharging managerial responsibilities / person closely associated

    a)

    Name

    William A. Ackman

    2.

    Reason for the notification

    a)

    Position / status

    CEO of investment manager to issuer

    b)

    Initial notification / amendment

    Initial

    3.

    Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

    a)

    Name

    Pershing Square Holdings, Ltd.

    b)

    LEI

    U7LC4KOKCTZ0YWGI2G56

    4.

    Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

    a)

    Description of the financial instrument, type of instrument

    Public Shares (Shares A)

     

    Identification code (ISIN)

    GG00BPFJTF46

    b)

    Nature of the transaction

    Acquisition

    c)

    Price(s) and volume(s)

     

    Price(s)

    Volume(s)

    1.

    NA

    14,000,000

    d)

    Aggregate information:

    – Aggregated volume

    – Price

     

    Volume

    (aggregate)

    Price

    (aggregate)

    1.

    14,000,000

    NA

    e)

    Date of transaction

    31 March 2021

    f)

    Place of the transaction

    Outside a trading venue

    Remarks: William A. Ackman received 14,000,000 Public Shares in a distribution from WAFH LLC, which he wholly owns.

    About Pershing Square Holdings, Ltd.

    Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) is an investment holding company structured as a closed‐ended fund that makes concentrated investments principally in North American domiciled companies.

    Category: (PSH:InsiderTransactions)

    Contacts

    Camarco
    Ed Gascoigne‐Pees / Hazel Stevenson +44 020 3757 4989, Media-PershingSquareHoldings@camarco.co.uk

  • Pershing Square Holdings, Ltd. Releases Monthly Net Asset Value and Performance Report for March 2021

    LONDON–(BUSINESS WIRE)–Regulatory News:

    Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) today released the following regular monthly Net Asset Value (NAV) and Performance Report for the month of March 2021. The information has also been posted to the PSH website, www.pershingsquareholdings.com. Monthly net asset value and performance are calculated at the close of business on the last business day of the month.

    Summary Results (1) Number of Positions (2)

    March

    YTD 2021

    Gross Performance

    0,9%

    9,0%

    Long

    9

    Net Performance

    0,6%

    7,2%

    Short

    0

    NAV/Share (in USD)

    $48,66

     

    Total

    0

    NAV/Share (in GBP)

    £35,29

     

     
    Equity & Debt Exposure Composition By Market Cap (3) (4) Portfolio Composition by Sector (5)
    Net Portfolio Long Short
    Large Cap

    99%

    99%

    0%

    Financials Restaurant
     
    Mid Cap

    5%

    5%

    0%

    Hospitality Retail
     
    Small Cap

    0%

    0%

    0%

    Life Science Tools/Industrials Special Purpose Acquisition Company
     
    Total

    104%

    104%

    0%

    RE Corp.
     
    Note: Large Cap >= $5b; Mid Cap >= $1b; Small Cap < $1b
     
    Assets Under Management Notional Credit Default Swap Exposure
    Pershing Square Holdings, Ltd. AUM(6)* $ 11,913.6M Single Name and Sovereign CDS $ 52.2M
    Total Strategy AUM(7)* $ 13,451.9M
    Total Strategy AUM + PSTH(8)* $ 17,451.9M
    *Includes $2.1B Bond Proceeds

    PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. All investments involve the possibility of profit and the risk of loss, including the loss of principal. This document does not constitute an offer to sell or the solicitation of an offer to purchase any security or investment product. All information is current as of the date hereof and is subject to change in the future.

    (1) Performance results are presented on a gross and net-of-fees basis. Net returns reflect the deduction of, among other expenses, management fees, brokerage commissions, administrative fees, and accrued and/or crystallized performance fees, if any, and include the reinvestment of all dividends, interest, and capital gains from our underlying portfolio companies. Net returns reflect the performance of the Company’s Public Shares. Depending on the timing of an individual investor’s specific investment, net performance for an individual investor may vary from the net performance as stated herein. Gross returns reflect the performance of the Company’s shares in the aggregate and are presented before the deduction of management fees and performance fees, if any. Since June 20, 2019, the Company has engaged in share repurchases whereby its buyback agent has repurchased Public Shares subject to certain limitations. Any positive impact on performance due to these share buybacks is reflected herein. Performance data and other information contained herein are estimated and unaudited. Performance is based on the dollar return for the specific period, including any and all dividends paid by the Company, calculated from the beginning of such period to the end of such period.

    (2) Reflects the number of positions in issuers in which the Company has previously publicly disclosed an investment, which occurs after the Company has completed its accumulation. Cash, cash equivalents, direct or indirect currency or other hedges and income/expense items are excluded. Multiple financial instruments (for example, common stock and derivatives on common stock) associated with one (1) issuer count as one (1) position. A position that is included in the number of positions will be removed from the table only if the investment becomes 0.0% of the portfolio.

    (3) For the purpose of determining the equity and debt exposures, investments are valued as follows: (a) equity or debt is valued at market value, (b) options referencing equity or debt are valued at market value, (c) long call options and short put options (or vice-versa, short call options and long put options) held on the same underlying issuer and with the same strike and same expiry are grouped together and treated as synthetic equity positions, and are valued at the market value of the equivalent long equity position (or vice-versa, the equivalent short equity position), and (d) swaps or forwards referencing equity or debt are valued at the market value of the notional equity or debt underlying the swaps or forwards, except for positions referencing Pershing Square Tontine Holdings, Ltd (“PSTH”), which are valued at market value. Whether a position is deemed to be long or short is determined by whether an investment has positive or negative exposure to price increases or decreases. For example, long puts are deemed to be short exposure.

    (4) Includes all issuer equity, debt, and derivatives related to issuer equity and debt, and associated currency hedges. Cash, cash equivalents, direct or indirect currency or other hedges and income/expense items are excluded. The market values of associated currency hedges are included as part of the associated investment. In the event that there is a change in market cap category with respect to any non-publicly disclosed position, this information is not updated until such position is publicly disclosed.

    (5) Portfolio composition is reflective of the publicly disclosed portfolio positions as of the date of this report. A position in an issuer is only assigned to a sector once it has been publicly disclosed.

    (6) “Pershing Square Holdings, Ltd. AUM” equals the net assets of Pershing Square Holdings, Ltd. calculated in accordance with GAAP without deducting amounts attributable to accrued performance fees, while adding back the Company’s value of its debt outstanding ($2.1 billion). Any performance fees crystallized as of the end of the year will be reflected in the following period’s AUM.

    (7) “Total Strategy AUM” equals the net assets of Pershing Square, L.P., Pershing Square International, Ltd. and Pershing Square Holdings, Ltd. (collectively, the “Core Funds”) calculated in accordance with GAAP without deducting amounts attributable to accrued performance fees, while adding back the Company’s value of its debt outstanding ($2.1 billion). Redemptions effective as of the end of any period (including redemptions attributable to crystallized performance fees/allocations, if any) will be reflected in the following period’s AUM.

    (8) “Total Strategy AUM + PSTH” equals the total strategy AUM as defined in footnote 7, plus $4 billion raised in the IPO of PSTH, a Delaware corporation, which is a newly organized blank-check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

    Note: Each Public Share in the Company carries at all times one vote per share. The total voting rights in the Company (“Total Voting Rights”) may vary over time given the capital and voting structure of the Company. As of March 31, 2021, Total Voting Rights were 399,039,844. There are 199,120,882 Public Shares and 1 Special Voting Share (held by VoteCo) outstanding (the share classes have 1 vote and 199,918,962 votes per share, respectively). In addition, the Company currently holds 11,835,868 Public Shares in Treasury; these Public Shares are not eligible to vote. In connection with the payment of a dividend on March 19, 2021, the high water mark per share has been adjusted to $45.37.

    Under the Dutch Financial Supervision Act (Wet op het financieel toezicht), anyone who, directly or indirectly, acquires or disposes of shares in the Company and holds voting rights reaching, exceeding or falling below certain thresholds (including 3%, 5% and 10%) of the Total Voting Rights is required to notify the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financële Markten).

    In addition, under the Company’s Articles of Incorporation, a person is required to notify the Company of the number of the Public Shares it holds or is deemed to hold (through such person’s direct or indirect holding of financial instruments) if this number reaches, exceeds or falls below 3%, 4%, 4.25%, 4.50%, 4.75% or 5% of the total number of outstanding Public Shares.

    As of the date of the placing of the Public Shares, the total offset amount, which is part of the performance fee calculation, was $120M. As of March 31, 2021, the offset amount has been reduced in the aggregate by approximately $67.9M to $52.1M. The performance fee that may be charged from time to time on fee-bearing shares equals 16% of NAV appreciation minus the “additional reduction.” The additional reduction is equal to 20% of the aggregate performance allocations/fees earned by the investment manager on the gains of certain other funds managed by the investment manager plus any amount of additional reduction carried forward from the previous period ($0.1M as of March 31, 2021), and is calculated after giving effect to the offset amount. The offset amount offsets the additional reduction until it is fully reduced to zero. As of the date of the placing, the total offset amount was set by reference to the sum of the fees and other costs of the placing and admission of the Public Shares, as well as commissions paid to placement agents and other formation and offering expenses prior to admission that had been borne by the investment manager.

    About Pershing Square Holdings, Ltd.

    Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) is an investment holding company structured as a closed-ended fund that makes concentrated investments principally in North American domiciled companies.

    Category: (PSH:MonthlyNAV)

    Contacts

    Camarco
    Ed Gascoigne-Pees / Hazel Stevenson +44 020 3757 4989, media-pershingsquareholdings@camarco.co.uk

  • AHF Backs WTO Chief’s Appeal for Vaccine Equity

    LOS ANGELES–(BUSINESS WIRE)–In response to abhorrent inequality in the global distribution of COVID-19 vaccines among wealthy and developing countries, World Trade Organization (WTO) Director-General Dr. Ngozi Okonjo-Iweala has called on government leaders and vaccine manufacturers to negotiate fairer terms for economically challenged nations. AIDS Healthcare Foundation (AHF), the largest provider of HIV/AIDS care and treatment globally, which operates in 45 countries, fully supports WTO’s appeal for vaccine equity.

    Less than 1% of the population in Africa has received any COVID-19 shots at all. By contrast, in Europe, 12% have been vaccinated and nearly 19% in North America. What’s worse, some parts of the developing world are not expected to see substantial vaccine shipments until the end of 2022.

    “If the immorality of vaccine rationing doesn’t bother you, the grave danger that it poses to the world should,” said AHF President Michael Weinstein. “While world leaders and pharma companies dawdle over patents and funding, the death toll from the pandemic is nearing 3 million, and new variants of the virus are running rampant. We are far from the ‘light at the end of the tunnel,’ and in fact, we face a very real danger of the pandemic getting worse, unless every single avenue is leveraged to vaccinate our world as quickly as possible.”

    In her appeal, Dr. Okonjo-Iweala, who is Nigeria’s former minister of finance and former chair of the Global Vaccine Alliance (GAVI), said developing countries cannot be left to endure a decade-long wait for vaccines, like they were with lifesaving antiretroviral drugs to treat HIV.

    The WTO chief is expected to meet face-to-face with pharmaceutical companies and representatives of WTO member states in mid-April to push for expanded manufacturing capacity and more flexibility in how vaccine intellectual property rights are shared worldwide.

    AIDS Healthcare Foundation (AHF), the largest global AIDS organization, currently provides medical care and/or services to over 1.5 million clients in 45 countries worldwide in the US, Africa, Latin America/Caribbean, the Asia/Pacific Region and Europe. To learn more about AHF, please visit our website: www.aidshealth.org, find us on Facebook: www.facebook.com/aidshealth and follow us on Twitter: @aidshealthcare and Instagram: @aidshealthcare.

    Contacts

    US MEDIA CONTACT:

    Denys Nazarov, Director of Global Policy & Communications, AHF

    +1 323.308.1829

    denys.nazarov@ahf.org

    Terri Ford, Chief of Global Advocacy & Policy, AHF

    +1 323.308.1820

    terri.ford@ahf.org

  • Sensata Technologies Completes Acquisition of Xirgo Technologies

    SWINDON, England–(BUSINESS WIRE)–$ST #datainsight–Sensata Technologies (NYSE: ST), a leading industrial technology company and provider of sensor-rich solutions that create insight for customers, today announced that it has completed the previously announced acquisition of leading telematics and data insight provider, Xirgo® Technologies Intermediate Holdings, LLC (“Xirgo”) for $400 million.

    Sensata completed the acquisition of 100% of the shares from private equity firm HKW and other shareholders following receipt of regulatory approval from all authorities required by the agreement. The acquisition includes approximately 160 sales, engineering and manufacturing employees in the United States and Lithuania including more than 75 engineers.

    “This acquisition meaningfully advances Sensata’s Smart & Connected megatrend-focused growth initiative for transportation and logistics end-markets. We are excited to welcome our new Xirgo colleagues to Team Sensata as we work together to deliver a broader value proposition to address fleet managers’ needs and create new growth opportunities for our employees and our shareholders,” said Jeff Cote, Sensata Technologies CEO and President.

    To learn more about how the acquisition expands Sensata’s Smart & Connected growth vector and strengthens its position as a data insight provider across transportation and logistics end-markets, read the previous signing announcement.

    About Sensata Technologies

    Sensata Technologies is a leading industrial technology company that develops sensors, sensor-based solutions, including controllers and software, and other mission-critical products to create valuable business insights for customers and end users. For more than 100 years, Sensata has provided a wide range of customized, sensor-rich solutions that address complex engineering requirements to help customers solve difficult challenges in the automotive, heavy vehicle & off-road, industrial and aerospace industries. With more than 19,000 employees and operations in 13 countries, Sensata’s solutions help to make products safer, cleaner and more efficient, more electrified, and more connected. For more information, please visit Sensata’s website at www.sensata.com.

    About Xirgo® Technologies, LLC

    Xirgo® Technologies, LLC is a leading provider of innovative, full-featured, application-specific wireless IoT communication devices. An expansive product line facilitates best-in-class solutions for numerous markets and verticals. With comprehensive in-house engineering capabilities in all key development disciplines, Xirgo consistently delivers compelling solutions to companies in search of ways to become more competitive, improve operational efficiencies, and unlock new revenue streams. In conjunction with our partners, Xirgo has provided world-class solutions in the realm of telematics, fleet management, heavy equipment, asset tracking, usage-based driving, high-risk vehicle finance, cold chain, and rental applications. For more information about Xirgo, visit the website: https://xirgo.com/

    Contacts

    Investors:
    Jacob Sayer

    +1 (508) 236-1666

    jsayer@sensata.com

    Media:
    Alexia Taxiarchos

    +1 (617) 259-8172

    ataxiarchos@sensata.com

  • TechnipFMC and Bombora Form Strategic Partnership to Develop a Floating Wave and Wind Power Project

    LONDON & PARIS & HOUSTON–(BUSINESS WIRE)–TechnipFMC (NYSE: FTI) (PARIS: FTI), a global leader in the energy industry, and Bombora, a leading wave energy technology company, have formed a strategic partnership to develop a floating wave and wind power project in support of a more sustainable future.

    The relationship brings together TechnipFMC’s unique technologies and experience delivering complex integrated Engineering, Procurement, Construction and Installation (iEPCI™) projects offshore with Bombora’s patented multi-megawatt mWave™ technology that converts wave energy into electricity.

    The partnership will initially focus on TechnipFMC and Bombora’s InSPIRE project. With engineering work initiated in November 2020, the partnership is developing a hybrid system utilizing Bombora’s mWave™ technology. The hybrid system demonstrator will deliver 6 megawatts of combined floating wind and wave power, followed by Series 1 and Series 2 commercial platforms which are expected to deliver 12 and 18 megawatts, respectively.

    Jonathan Landes, President Subsea at TechnipFMC, commented: “Our core competencies and integration capabilities make us an ideal system architect and partner in developing renewable energy solutions alongside Bombora’s experience and unique, patented mWave™ technology. We are delighted to work on a project that advances our commitment to the environment while contributing toward a more sustainable future.”

    Sam Leighton, Bombora’s Managing Director, said: “Bombora is collaborating with TechnipFMC to accelerate development of our floating integrated mWaveTM platform solutions for commercial wind farms. With TechnipFMC’s extensive track record of delivering large-scale projects to the energy sector and Bombora’s innovative mWaveTM technology, we are confident InSPIRE will play a key role in the offshore energy sector.”

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    Important Information for Investors and Securityholders

    Forward-Looking Statement

    This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “believe”, “estimated” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.

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    About TechnipFMC

    TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.

    With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

    Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.

    Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.

    TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

    About Bombora and mWave™

    Based in Pembroke Dock in West Wales, Bombora is a leading marine energy company that has developed a membrane style wave energy converter called ‘mWave™’.

    mWaveTM can be located in both nearshore and offshore sites with good wave resources to generate sustainable clean energy. mWaveTM is unique among wave energy converters as it simultaneously addresses the ‘cost of energy’ and ‘ocean wave survivability’ challenges while delivering a utility scale solution.

    Bombora is currently completing the 1.5 megawatt mWaveTM Pembrokeshire Demonstration Project in Wales, part funded by £13.4 million from the European Regional Development Fund (ERDF) through the Welsh Government.

    Bombora is progressing further opportunities in Lanzarote, Japan, Ireland and Australia.

    www.bomborawave.com

    For more information, please visit www.inspireoffshoreenergy.com
    Images available on request.

    Contacts

    TechnipFMC Contacts
    Investor relations
    Matt Seinsheimer

    Vice President Investor Relations

    Tel: +1 281 260 3665

    Email: Matt Seinsheimer

    James Davis

    Senior Manager Investor Relations

    Tel: +1 281 260 3665

    Email: James Davis

    Media relations
    Nicola Cameron

    Vice President Corporate Communications

    Tel: +44 1383 742297

    Email: Nicola Cameron

    Brooke Robertson

    Public Relations Director

    Tel: +1 281 591 4108

    Email: Brooke Robertson

    Bombora Contacts
    Sam Leighton

    Managing Director

    T: +44 1646 233140

    M: +44 7981 844125

    sam@bomborawave.com

    Ffion Wright

    Marketing and Communications Manager

    T: +44 1646 233140

    M: +44 7890 636898

    ffion@bomborawave.com

  • OptiPulse Non-Coherent Laser Offers Optical Fiber Installers a Wireless Extension Cord

    ALBUQUERQUE, N.M.–(BUSINESS WIRE)–#optipulse–OptiPulse is testing a new light source that sends invisible eye-safe infrared light wirelessly from one building or pole to another at 10Gbps. The light source is a miniature chip that costs ~$1 to produce in large volumes and has tested error-free at 25Gbps. The Light is about the same wavelength as your TV remote. It is turning on and off at 25 billion times a second to send data over a beam of invisible light with extremely high bandwidth. The company has designed the compound semiconductor chip, developed, and produced it at a commercial foundry. The chips were installed in a “binocular” type 3rd prototype that emulates a wireless infrastructure link.


    OptiPulse is trying to prove that light is superior to microwaves for sending high speed wireless data. Their first product will be beta tested within 6 months. The links use invisible light about the same wavelength as your TV remote’s infrared light. The demonstrated 10Gbps upload and download systems can reduce the cost and increase the performance of those links. The 3rd prototype used less than ¼ of the energy a typical microwave link. These combined factors may ultimately lead to a significant reduction in energy use worldwide even as the bandwidth demands increase.

    OptiPulse’s first goal is to make infrastructure links that can be a kind of wireless extension cord for fiber optic deployments. Many times, fiber installers run into rock, streams or highway crossings that are difficult to span. Plugging the fiber into one device at the obstacle can send the same bandwidth wirelessly across the difficult area much cheaper than the alternatives. It is hoped by many current clients waiting for the links that it will reduce the cost and time for fiber installs. The links can also be used in metro areas to not disturb businesses by tearing up roads in major metro areas.

    The founder, John Joseph, believes the way to prevent this work from being taken over is by getting the public to fund and oversee its development. The company has started with a WeFunder crowd funding campaign where the public can invest as little as $100. https://wefunder.com/optipulse

    Contacts

    John Joseph CEO OptiPulse

    480-652-0717

    jjoseph@optipulse.com
    https://optipulse.com