Disposal

Custodian Property Income REIT plc: Disposal of Properties

Retrieved on: 
Wednesday, April 10, 2024
LTV, Property income, Sale, Disposal

Custodian Property Income REIT plc: Disposal of Properties

Key Points: 
  • Custodian Property Income REIT plc: Disposal of Properties
    Custodian Property Income REIT (LSE: CREI), which seeks to deliver a strong income return by investing in a diversified portfolio of smaller regional properties across the UK, is pleased to announce that it has completed the sale of an industrial unit in Weybridge for £6.0m and unconditionally exchanged on the disposal of a vacant industrial unit in Warrington for £9.0m (“the Disposals”).
  • The Disposals were previously disclosed in the Company’s announcement of 28 February 2024, with the respective sales prices representing premiums to 31 December 2023 valuations of 5.2% (£0.3m) and 61% (£3.4m).
  • The Warrington disposal is expected to complete in mid-April 2024 and total proceeds from the Disposals of £15.0m will be used towards repaying the Company’s existing revolving debt facility, reducing LTV by circa 2%.
  • Selling vacant property is particularly accretive to earnings by both saving void costs and reducing interest expense.

Altus Power, Inc. Announces Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Thursday, March 14, 2024
Other Energy, Environment, Utilities, Alternative Energy, Green Technology, Energy, Equipment, Growth, ARR, Partnership, Disposal, Accounting, Acquisition, Form 10-K, Depreciation, Expense, Bank statement, Interest expense, ASC, Vitol, GAAP, REC, Alignment, Retirement, Entity, PPA, Accretion expense, NMCA, Professional, Mergers and acquisitions

Altus Power, Inc. (NYSE: AMPS) (“Altus Power” or the “Company”), the largest commercial scale provider of clean, electric power, today announced its financial results for fourth quarter and full year 2023.

Key Points: 
  • Altus Power, Inc. (NYSE: AMPS) (“Altus Power” or the “Company”), the largest commercial scale provider of clean, electric power, today announced its financial results for fourth quarter and full year 2023.
  • Operating revenues during the fourth quarter of 2023 totaled $34.2 million, compared to $26.8 million during the same period of 2022, an increase of 28%.
  • Fourth quarter 2023 GAAP net loss totaled $40.0 million, compared to net income of $67.1 million for the same period last year.
  • Adjusted EBITDA* during the fourth quarter of 2023 was $17.3 million, compared to $16.6 million for the fourth quarter of 2022, a 5% increase.

OneConnect Announces Fourth Quarter and Full Year Unaudited Financial Results

Retrieved on: 
Monday, March 18, 2024
OneConnect Financial Technology, KPMG, Growth, RMB, Disposal, Research, IDC, AI, ADS, Information and communications technology, Architecture, PAOB

SHENZHEN, China, March 18, 2024 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE: OCFT and HKEX: 6638), a leading technology-as-a-service provider for financial services industry in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • In December 2022, the Company effected an ADS ratio change to
    for all periods presented in this press release.
  • OneConnect is committed to upgrading and transforming the financial industry with technology innovations, focusing on serving premium-plus customers and products optimization to meet financial institutions' core demands to improve operational efficiency.
  • Mr. Yongtao Luo, Chief Financial Officer, commented, "I am pleased to share that our efforts to manage costs and drive operational efficiencies have yielded significant results, demonstrating promising path to profitability.
  • This not only demonstrates our commitment to financial health but also indicates a positive trajectory towards profitability.

Great Lakes Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Wednesday, February 14, 2024
GLDD, Investment, PSLRA, Growth, Texas Coastal Bend, Cape Hatteras, Wind, Climate change, House, Legislation, Public utility, Disposal, Cape, Empire Wind, MBE, Water resources, GAAP, Ecosystem, Congress, Security (finance), Cyclone, State, Senate, Depreciation, DBE, Water, Language, PPA, Adjustment, Safety, Public expenditure, River, Insurance, Acquisition, Inflation, Power purchase agreement, PIN, Annual report, Corps, Disaster, Government, Projection, WRDA, BP, Policy, Reputational damage, Liquefied natural gas, Infection, Video game

HOUSTON, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (Nasdaq: GLDD), the largest provider of dredging services in the United States, today reported financial results for the quarter and year ended December 31, 2023.

Key Points: 
  • Lasse Petterson, President and Chief Executive Officer commented, “We ended the year strong with solid fourth quarter results.
  • Gross margin percentage increased to 21.3% in the fourth quarter of 2023 from -11.0% in the fourth quarter of 2022 partially due to improved project performance.
  • Great Lakes cautions investors that any forward-looking statements made by Great Lakes are not guarantees or indicative of future performance.
  • Great Lakes' future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties.

Tarena Signs Equity Transfer Agreement to Dispose of Professional Education Business

Retrieved on: 
Tuesday, December 26, 2023
Transfer, Disposal, STEAM

BEIJING, Dec. 26, 2023 /PRNewswire/ -- Tarena International, Inc. (NASDAQ: TEDU) ("Tarena" or the "Company"), a leading provider of IT professional education and IT-focused supplementary STEAM education services in China, today announced that it has signed an equity transfer agreement (the "Equity Transfer Agreement") to dispose of all equity interests in the professional education business to a buyer consortium led by Tarena Weishang Technology (Hainan) Co., Ltd (the "Disposal Transaction").

Key Points: 
  • BEIJING, Dec. 26, 2023 /PRNewswire/ -- Tarena International, Inc. (NASDAQ: TEDU) ("Tarena" or the "Company"), a leading provider of IT professional education and IT-focused supplementary STEAM education services in China, today announced that it has signed an equity transfer agreement (the "Equity Transfer Agreement") to dispose of all equity interests in the professional education business to a buyer consortium led by Tarena Weishang Technology (Hainan) Co., Ltd (the "Disposal Transaction").
  • Ms. Lijuan Han, affiliate of the Company's founder and chairman Mr. Shaoyun Han, is a member of the buyer consortium and has an interest in the Disposal Transaction.
  • Kroll, LLC was retained as the independent financial advisor in connection with the Disposal Transaction.
  • The Disposal Transaction is expected to close around the end of March 2024.

Altus Power, Inc. Announces Third Quarter 2023 Financial Results

Retrieved on: 
Monday, November 13, 2023
Environment, Commercial Building & Real Estate, Technology, Construction & Property, Utilities, Alternative Energy, Software, Green Technology, Energy, Disposal, EBITDA, Accounting, Acquisition, NYSE, Equipment, Earnout, Depreciation, Bank statement, Annual report, Expense, Samsung Galaxy Note 20, PAR, Multimedia, Alignment, Interest expense, FASB, REC, GAAP, Professional, CBRE, Gain, Retirement, Redmi Note 11, Mergers and acquisitions, Growth, Entity, Accretion expense, PPA, NMCA, Renewable energy, Asset management, Bank, Insurance, Bookkeeping, Security (finance)

Altus Power, Inc. (NYSE: AMPS), the leading commercial-scale provider of clean electric power, today announced its financial results for the third quarter of 2023.

Key Points: 
  • Altus Power, Inc. (NYSE: AMPS), the leading commercial-scale provider of clean electric power, today announced its financial results for the third quarter of 2023.
  • Third quarter 2023 GAAP net income totaled $6.8 million, compared to net loss of $96.6 million for the same period last year.
  • Adjusted EBITDA* during the third quarter of 2023 was $29.1 million, compared to $19.4 million for the third quarter of 2022, a 50% increase.
  • Altus Power reaffirmed 2023 adjusted EBITDA* in the range of $97-103 million, representing approximately 70% growth over 2022.

FLJ Group Limited Announces Disposal of Long-term Apartment Rental Business

Retrieved on: 
Tuesday, October 31, 2023
Acquisition, Food, WFOE, Habit, Cyprus Securities and Exchange Commission, Artificial intelligence, Growth, COVID-19, Risk, Marketing, Restaurant, Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc., Travel, Disposal, PRC

Through the WFOE and the WFOE’s subsidiaries, the Company carried out its long-term apartment rental business (the “Disposed Business”).

Key Points: 
  • Through the WFOE and the WFOE’s subsidiaries, the Company carried out its long-term apartment rental business (the “Disposed Business”).
  • The Disposed Business contributed substantially all revenue and held substantially all of the assets of the Company prior to the Disposal.
  • We believe the Disposal will help us focus our resources on China’s large and fast-growing online lifestyle services sector.
  • Leveraging our experience from long-term apartment rental business, we are able to identify consumers’ consumption habits and patterns and quickly respond to their needs.

YOOMA WELLNESS INC. ANNOUNCES SALE OF VITALITY CBD

Retrieved on: 
Friday, September 29, 2023
Cash, Disposal, CSE, Canadian Securities Exchange, Ontario Securities Commission, Bank statement, Disclosure, Sale, YOOM, Exchange, CBD, CFO, Life insurance, Security (finance), Vitality

Toronto, Ontario, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Yooma Wellness Inc. (CSE: YOOM, AQSE: YOOM) ("Yooma" or the "Company") today announced that its wholly-owned subsidiary Yooma Europe Limited (“Yooma Europe”) has completed the sale of Birmingham-based Vitality CBD Limited (“Vitality”), a UK-focused CBD company, for a total consideration of US$2.0 million (the “Disposal”) to Psilobrain Therapeutics Inc. (“Psilobrain”).

Key Points: 
  • Toronto, Ontario, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Yooma Wellness Inc. (CSE: YOOM, AQSE: YOOM) ("Yooma" or the "Company") today announced that its wholly-owned subsidiary Yooma Europe Limited (“Yooma Europe”) has completed the sale of Birmingham-based Vitality CBD Limited (“Vitality”), a UK-focused CBD company, for a total consideration of US$2.0 million (the “Disposal”) to Psilobrain Therapeutics Inc. (“Psilobrain”).
  • Psilobrain is a private Canadian biotech company that uses the latest in psychedelic medicine to design products that facilitate evidence-based healing & wellness.
  • The consideration payable by Psilobrain comprises US$1.0 million in cash (the “Cash Consideration”), and US$1.0 million in new shares of Psilobrain (the “Consideration Shares”).
  • The consideration payable by Psilobrain is subject to customary adjustments, Vitality having been sold on a debt-free, cash-free basis.

Shareholder Update: DEEP GREEN Seeing Growth Driven by $2M Nashville Asbestos Project and Strategic Expansion

Retrieved on: 
Tuesday, September 26, 2023
Location identifier, Disposal, DEEP, Transport, Lead, Vanderbilt University Medical Center, Lyell, Conduct, Recycling, Decontamination, Vanderbilt, Documentation, Asbestos, Water, OTC, HEPA, Growth, Environment, Safety, Renewable energy, Demolition, Environmental remediation

"Additionally, DEEP GREEN continues to deliver profitable growth driven by our strategic expansion efforts."

Key Points: 
  • "Additionally, DEEP GREEN continues to deliver profitable growth driven by our strategic expansion efforts."
  • The safe removal of asbestos requires extensive planning and meticulous execution using specialized equipment and techniques.
  • A standard asbestos abatement project will involve the following key phases and tasks:
    Site Evaluation and Planning - Thoroughly survey the site to identify all asbestos-containing materials.
  • DEEP GREEN provides sustainable waste and recycling services to commercial clients, now augmented by full-service remediation capabilities in asbestos, lead, mold and more.

Great Lakes Awarded the Dredge and Environmentally Beneficial Disposal Contract for the Port Arthur LNG Project

Retrieved on: 
Wednesday, August 23, 2023
Partnership, Gulf Coast of the United States, GLDD, Government, Wind, Beneficial use, MTPA, Gulf of Mexico, Port Arthur, Engineering, Natural gas, Safety management system, Growth, Bechtel, Safety, Lake, Dredging, Disposal, LNG, Sempra

HOUSTON, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation ("Great Lakes" or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, announced today the award for the Port Arthur LNG Phase 1 project Marine Dredging and Disposal contract.

Key Points: 
  • HOUSTON, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation ("Great Lakes" or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, announced today the award for the Port Arthur LNG Phase 1 project Marine Dredging and Disposal contract.
  • Great Lakes has been contracted by Bechtel Energy, Inc. (“Bechtel”), a leading global engineering, construction, and procurement company that’s managing the Port Arthur LNG Phase 1 project in partnership with Sempra Infrastructure.
  • The Port Arthur LNG project is a natural gas liquefaction and export terminal in Southeast Texas with direct access to the Gulf of Mexico.
  • The scope of work on this project is to dredge the Port Arthur LNG Berthing Pocket on the Port Arthur Ship Canal.