PERTH: The Board of AF Legal Group Ltd announced its expansion to Western Australia with the opening of a new office in Perth via the recruitment of a new lateral hire. The Perth office will open in November 2020 and be AFL’s fifth office to open this calendar year following successful openings in Canberra (ACT),…
Emirates NBD posts net profit of AED 5.6 billion
DUBAI: Emirates NBD, a leading banking group in the region, delivered a net profit of AED 5.6 billion in the first nine months of 2020, a news release said. Net interest income increased 21% y-o-y and non-funded income grew 9% y-o-y with the full year inclusion of DenizBank. Net profit declined 55% y-o-y due to…
Britvic signs 20-year franchise bottling agreement for PepsiCo carbonated brands in Great Britain
LONDON: Britvic Plc has reached agreement with PepsiCo for a new and exclusive 20-year franchise bottling agreement for the production, distribution, marketing and sales of its carbonated soft drink brands – including Pepsi, 7UP and Mountain Dew – in Great Britain. The new agreement extends the relationship, which commenced in 1987, to 31 December 2040…
Jody Ford to become new CEO of Trainline plc
LONDON: Trainline plc,a one‐stop shop for rail and coach travel, announced that Chief Operating Officer Jody Ford will assume the office of Chief Executive Officer (CEO) as Clare Gilmartin will be stepping down as CEO and a Board Member at the end of February 2021. Clare will remain involved in the business thereafter as a…
HTC and VRE launch ENGAGE platform as VIVE Sessions in China
LONDON, UK: VR Education Holdings plc announced that HTC Corporation (HTC) has today launched ENGAGE in China, reselling the platform as VIVE Sessions. This new service will focus on large-scale conferences, exhibitions and educational events in China and HTC will provide all the necessary enterprise sales, support and marketing in the region. The VIVE XR…
Open Orphan signs contract with UK government to develop COVID-19 human challenge study model
LONDON: Open Orphan plc (ORPH) announced the signing of a contract by hVIVO, a subsidiary of Open Orphan, with the UK Government to develop a COVID-19 (SARS-CoV-2) human challenge study model. The model development involves the manufacture of the challenge virus and the first-in-human characterisation study for this virus. The contract starts immediately and could…
Valeura Energy to sell shallow conventional assets for up to $18 million
CALGARY: Valeura Energy Inc. has executed a Share Purchase Agreement to sell its producing shallow conventional gas business to TBNG Limited for a cash consideration of US$15.5 million, plus royalty payments of up to an additional US$2.5 million. Proceeds from the deal will add to Valeura’s strong net cash position, which as of September 30,…
Nick Slape appointed Chief Executive Officer of The Co-operative Bank
LONDON: The Co-Operative Bank announced the appointment of Nick Slape, the Bank’s Chief Financial Officer to the role of Chief Executive Officer, with effect from 31 October 2020, subject to regulatory approval. He succeeds Andrew Bester, who, as previously announced, has decided to step down following the successful delivery of key elements of the Bank’s…
Sandvik Group agrees to acquire US based CGTech
STOCKHOLM: Sandvik Group has signed an agreement to acquire US based CGTech, a global market leader in software for numerical control (NC/CNC) simulation, verification and optimization. The product offering includes VERICUT, a machining simulation and optimization software which is CAM, machine tool manufacturer and cutting tool neutral and works stand alone or in conjunction with…
Adevinta launches EUR 1.06 billion of Senior Secured Notes offering
OSLO: Adevinta ASA has launched an offering of approximately EUR 1.06 billion aggregate principal amount of senior secured notes, consisting of notes due 2025 and 2027, a news release said. Adevinta previously announced its plans to syndicate a new senior secured Term Loan B facility consisting of a EUR900 million EUR-denominated tranche and a $500…
Jannicke Trumpy Granquist appointed new President and CEO of Kommunalbanken AS
OSLO: The Board of Directors of Kommunalbanken AS (KBN) has appointed Jannicke Trumpy Granquist as new President and CEO. The Board has assessed several good candidates in the process and considers it an advantage to have found an internal successor. Granquist knows the company well from her time as CFO and acting CEO. KBN is…
Saga Tankers appoints Bjørn Simonsen as Chief Executive Officer
OSLO, NORWAY: The Board of Directors of Saga Tankers ASA announced the strategy within renewable energy investments and has appointed Bjørn Simonsen as Chief Executive Officer (CEO). Following the renewable energy strategy, the company will divest non-core assets and change name to Saga Pure ASA. “Saga sees significant opportunities within renewable energy investments. We have…