LONDON, UK: Rolls-Royce (LSE:RR.) announced that Warren East, Chief Executive, has decided to step down at the end of 2022, after nine years on the Board and almost eight years as CEO. As a result, the Board will now launch a thorough and extensive search for his successor. Anita Frew, Chair, said: “Warren is an exceptional…
TotalEnergies makes significant discovery offshore Namibia
PARIS, FRANCE: TotalEnergies (LSE:TTE) has made a significant discovery of light oil with associated gas on the Venus prospect, located in block 2913B in the Orange Basin, offshore southern Namibia. The Venus 1-X well encountered approximately 84 meters of net oil pay in a good quality Lower Cretaceous reservoir. “This discovery offshore Namibia and the…
Yamin ‘Mo’ Khan appointed Chief Executive Officer of Open Orphan
LONDON, UK: Open Orphan plc, a rapidly growing contract research company that is a world leader in testing vaccines and antivirals using human challenge clinical trials, has appointed Yamin ‘Mo’ Khan as Chief Executive Officer with immediate effect. Mo joined the Board as a Non-Executive Director (“NED”) in October 2021 and has worked closely with the…
Resolution Life to acquire Superannuation & Investments business of AIA Australia
LONDON, UK: Resolution Life Australasia has entered into an agreement with AIA Australia Limited to acquire its Superannuation & Investments business. The acquisition will deliver significant value and scale benefits and will strengthen Resolution Life’s position as the largest life insurer by assets in Australasia. It will increase Resolution Life’s funds under management and administration…
Genesis Energy considers Green Bond offer
AUCKLAND, NEW ZEALAND: Genesis Energy Limited is considering making an offer of 6-year fixed-rate unsecured, unsubordinated green bonds (Green Bonds) to institutional investors and New Zealand retail investors. It is expected that full details of the offer will be released on 1 March 2022, when the offer is expected to open. Genesis has a corporate…
Ellington Financial buys additional 49.6% interest in Longbridge for $75mn
OLD GREENWICH: Ellington Financial Inc. (NYSE: EFC) has entered into a definitive agreement to purchase an additional 49.6% ownership interest in Longbridge Financial LLC from Home Point Capital Inc. for approximately $75 million. Following the closing of the transaction, Ellington Financial, which has been an investor in Longbridge since 2014, will hold substantially all of…
Aspen and Marina Hindmarsh Island Fund likely to merge
SYDNEY, AUSTRALIA: Aspen Group and Mill Hill Capital (MHC) have proposed a merger of Marina Hindmarsh Island Fund (MHIF) and Aspen for the benefit of both groups of shareholders MHIF was established in 2017 by MHC – management of the Fund was delegated to Aspen in early 2019 when the MHC executives joined Aspen. MHIF…
Adacel Technologies acquires virtual air traffic control tower
MONTREAL, CANADA: Adacel Technologies Limited, an industry leader in advanced air traffic management solutions and simulation and training systems, announced the acquisition of a virtual air traffic control (ATC) tower for single and multiple aerodrome operations. This acquisition, including the intellectual property, accelerates Adacel’s entrance in the fast-growing market segment of virtual ATC tower solutions,…
Pakistan-based NayaPay raises $13mn in largest seed rounds in South Asia
KARACHI, PAKISTAN: NayaPay, a Pakistan-based fintech platform, has raised $13 million in one of the largest seed rounds in South Asia. Bringing together a diverse mix of leading global institutional and angel investors, the round was led by Zayn Capital, global fund manager MSA Novo and early-stage VC Graph Ventures from Silicon Valley. Singapore-based Saison…
Cloudflare to acquire Area 1 Security
AMSTERDAM: Cloudflare signed an agreement to acquire Area 1 Security, a cloud-native email security company, and leader in preventing phishing attacks in email, web, and network environments. “Together, we expect to deliver the world’s fastest, most reliable email security solution,” Cloudflare noted. In modern enterprises, email is one of the most-used cloud applications. Unfortunately, email…
Valereum increase interest in Gibraltar Stock Exchange to 90%
LONDON, UK: Valereum, the Gibraltar technology group, and the Global Stock Exchange Group (GSEG) have duly exercised the option to increase Valereum’s interest in the Gibraltar Stock Exchange (GSX) from 80% to 90%, as per the revised agreement announced on 28th January 2022. Additionally, both Valereum and the GSEG have also executed the first stage…
Vodafone to sell partial stake in Indus Towers Limited
LONDON, UK: Vodafone Group holds 757.8 million shares in Indus Towers Limited, equivalent to a 28.1% shareholding, a bourse filing noted. As much as 190.7 million of these shares, equivalent to a 7.1% shareholding, are currently pledged to Indus as part of the security arrangements entered into between Vodafone and Indus at the time of…