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Friday, 23 June 2017

Conclusies Europese Raad, 22-23/06/2017

EU Commission: Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)

Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
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EMA recommends that Symbioflor 2 can continue to be used for irritable bowel syndrome

Medicine should no longer be used for other disorders of the gut

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Meeting highlights from the Committee for Medicinal Products for Human Use (CHMP) 19-22 June 2017

Eight medicines recommended for approval, including two medicines for chronic hepatitis C virus (HCV) infection

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Two new medicines recommended for the treatment of chronic hepatitis C

Maviret and Vosevi evaluated under accelerated assessment

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Europe's shrinking middle class
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ABO-Group: Purchase - Repayment of share loan

ABO-Group    

Published: 17:01 CEST 23-06-2017 /GlobeNewswire /Source: ABO-Group / : ABO /ISIN: BE0974278104

ABO-Group: Purchase - Repayment of share loan

 

 

Purchase - repayment of share loan

 

 

Ghent, June 23rd 2017 - 18h00  - Regulated information

 

As authorized to the Board of Directors by the general meeting of May 28th 2014, ABO-Group acquired 16.000 own shares through purhases on Euronext Brussels in the following order:

 

Date

Number of shares

Amount (EUR)

Price (EUR)

June 20th 2017

15,910

45,041.59

2.82

June 21st 2017

90

272.56

2.94

Totaal

16,000

45,314.15

2.83

 

The purchased shares will be used to repay a share loan granted by majority shareholder Mr. Frank De Palmenaer on november 9th 2015. The loan was granted to finance the purchase of a 50% stake in Energy to zero NV, which was payed partially in ABO-Group shares.

As mentioned in the annual report 2016, the borrowed shares were due for repayment on June 30th 2017. After repayment of the loan ABO-Group will no longer hold any own shares.

 

 

About ABO-Group

 

ABO-Group is an engineering and consultancy firm active in the construction, environment and energy market. ABO-Group offers services in her home markets (Belgium, the Netherlands and France) and internationally by providing sustainable solutions. We refer to our website for more detailed information on our activities.    

 

 

For more information:

 

Frank De Palmenaer                                                 Johan Reybroeck                                          

CEO ABO-Group Environment NV                           CFO ABO-Group Environment NV   

frank.depalmenaer@abo-group.eu                           johan.reybroeck@abo-group.eu

T +32 (0)9 242 88 22 

 

Derbystraat 255, Maaltecenter Blok G, B-9051 Gent (SDW), Belgium

 

This press release is available on our website www.abo-group.eu

 



Purchase - Repayment of share loan



This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: ABO-Group, Derbystraat 255, Blok G Maaltecenter, Gent 9051, België
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Campine NV: Re-evaluation bank covenants

Campine NV    

Published: 17:01 CEST 23-06-2017 /GlobeNewswire /Source: Campine NV / : CAMB /ISIN: BE0003825420

Campine NV: Re-evaluation bank covenants

Regulatory information - inside information

Referring to our press release of 24/02/2017, as well as to our annual financial report 2016, we inform that Campine is back in compliance with its covenants as agreed with its banks after recognition of the fine imposed by the European Commission early this year.

As reported in the annual report 2016, Campine was in breach of the covenants included in its credit agreements, after the integration of the fine imposed by the European Commission in the results of the financial year 2016. The banks agreed upon a waiver of these bank covenants until 31 May 2017. At the request of the banks a re-evaluation of the bank covenants took place, based on the 31 March 2017 quarterly figures.

Campine complies again with the covenants:

  • The Equity (corrected for intangible fixed assets and deferred taxes (minimum of 20.000 K€) amounted to 20.692 K€ on 31 March 2017 (31/12/16: 18.517 K€).

  • The Solvency ratio on 31 March 2017 (27,5 %) is in compliance with the actual ratio of 25 % (the banks agreed to temporarily lower this ratio) and is expected to meet the original level of 30 % on 30 June 2017.

  • Campine was in compliance with its Stock rotation ratio on 31 December 2016 as well as on
    31 March 2017.

Furthermore, we want to reconfirm, as mentioned in our annual financial report 2016, that we successfully managed to raise and secure the required funds in order to meet the payment requirements for the fine set by the European Commission.
Our half year results 2017 will be published in our Interim financial report per 30/06/2017 in the last week of September 2017.



Re-evaluation bank covenants



This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Campine NV, Nijverheidsstraat 2, Beerse 2340, België
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OCEANTEAM ASA - REPORTS FY 2016 RESULTS

Oceanteam ASA    

Published: 17:00 CEST 23-06-2017 /GlobeNewswire /Source: Oceanteam ASA / : OTS /ISIN: NO0010317316

OCEANTEAM ASA - REPORTS FY 2016 RESULTS

Main financial indicators 2016

·       Operating income: USD 51.9 million                     

·       EBITDA: USD 22.2 million                         

·       Operating loss:  USD  9.1 million

·       Net finance (negative): USD 11.9 million

·       Net profit (loss): USD 23.3 million

·       Additional adjustments (compared to Q4 2016 report):

o       assets revaluation adjustment (negative): USD 17.8 million

o       additional assets write off (negative): USD 1.0 million


Major events in 2016

  • Oceanteam ASA initiates financial restructuring through constructive dialogue with its banks and bondholders. The revised bond loan agreement was signed on 19 June 2017.
  • CSV Southern Ocean remains under contract by Fugro TS Marine Australia until end of 2018.
  • McDermott notified Oceanteam that they will exercise its option to purchase Oceanteam's 25 percent ownership in the vessel-owning company North Ocean 105 AS. The transaction was closed on 20 June 2017.
  • Finanstilsynet (Financial Supervisory Authority) has initiated an audit process on 31 August 2016, which was subsequently successfully closed during 2017. 


Oslo/ Amsterdam - 23 June 2017. After having passed the final resolution on 19 June 2017 with a majority of its bondholders on refinancing its bond loan agreement, the Dutch-Norwegian based offshore service provider Oceanteam ASA ("Oceanteam" or "Company") today announced its official FY2016 figures.

2016 revenues came in at USD 51.9 million and the Company recorded an EBITDA of USD 22.2 million, both of which met market performance forecasts in what were very challenging conditions. The Company maintains a significant share of its revenues from its Solutions division, which came in at 41 percent in 2016.

For Oceanteam, FY2016 was a combination of business as usual and preparing the Company for a future of high performance and returns, says CEO Haico Halbesma. "The management and the teams of our operating companies were very much focused on their day-to-day market opportunities and challenges. These included securing our vessel charter rates and current backlog and tendering for new contracts, especially in the field of equipment and engineering solutions. Additionally, they were exploring new opportunities in areas such as renewable energy and civil engineering."

In late October 2016, the Executive Board and management initiated proactive and constructive talks with Oceanteam's bondholders and banks to discuss a new capital foundation for the Company. On 19 June 2017, the Board passed the final resolution on new terms with the Company's bondholders through a qualified majority. "This final agreement reflects the firm belief held by all stakeholders in the future direction and proven track record of our Company. As we have stated earlier, this milestone embodies the joint and constructive efforts of all of our stakeholders (bondholders, banks, the Halbesma family as a major shareholder and the executive management team) to ensure the success of this deal and a future of growth", Haico Halbesma states.

As a result of this agreement and the executed sale of the Lay Vessel North Ocean 105, Oceanteam has secured the financing it needs and safeguarded its continuity as a going concern. In June 2017, the new bond loan agreement became effective. As a result the Company now has improved free cash flow and structural lower interest costs, creating a healthy foundation for further growth.


Business areas


Major events and developments (2016)

  • CSV Southern Ocean will remain under contract by Fugro TS Marine Australia until the end of 2018 and has options for extension.
  • CSV Bourbon Oceanteam 101 has completed a dry dock period and started a new time charter contract in Angola.
  • Diavaz-Oceanteam Shipping (DOT) postpones the delivery of the CSV Tampamachoco 1 for one year, with an option to delay for a second year.


Major subsequent events (2017)

  • Oceanteam signs and executes bond loan agreement in June 2017.
  • JV Fleet refinancing is expected to be finalised by end of June 2017.
  • McDermott exercised its option to purchase Oceanteam's 25 percent ownership in the vessel-owning company North Ocean 105 AS. The transaction was closed on 20 June 2017.


Oceanteam Shipping

Operations North Ocean fleet

CSV Bourbon Oceanteam 101: CSV Bourbon Oceanteam 101: after successfully completing a long-term charter with Oceaneering and BP Angola, the vessel underwent SPS and certain upgrade in dry dock and the vessel started on a new time charter contract in Angola for TOTAL SA. The contract is for a period of three years plus options. The terms remain confidential, but the new charter rate reflects the current rate levels within the market.

CSV Southern Ocean: which has been on long-term bareboat charter with Fugro TSM Australia since its delivery in 2010. The vessel will remain under contract by Fugro TS Marine Australia until the end of 2018 and has options for extension.  

Lay Vessel North Ocean 105: was delivered in 2012 and has since been on a contract with McDermott International and operates globally as a pipe layer. McDermott exercised its option to purchase Oceanteam's 25 percent ownership in the vessel-owning company North Ocean 105 AS. The transaction was closed on 20 June 2017.

Oceanteam Mexico SA de CV operates two Fast Support Vessels (FSV's), Tiburon and Mantarraya. Tiburon and Mantarraya are still under bareboat charter with Inversiones Setin. However, since Inversiones Setin is in breach of its obligations under the contract and the Company has not received the charter hire due thereunder, the Company has started legal proceedings against Inversiones Setin. The outstanding receivable balance in the amount of USD 0.4 million has been written off as doubtful debt as part of 4Q 2016 financial reporting.  An impairment loss in the amount of USD 1.1 million has been provided during 4Q 2016 leaving the total net book value for these assets in the amount of USD 2.6million. Oceanteam management is closely monitoring the situation and is taking the necessary measures to preserve the value of these assets.


DOT Shipping

In March 2014, Oceanteam took a 40 percent stake in the newly founded joint venture DOT Shipping together with Diavaz. DOT Shipping successfully delivered two FSV new builds, named Icacos and Cobos, in Q4 2014. Both vessels are fully financed and have been operational in the Mexican market since March 2015, where they operate under a seven year firm time charter contract with three one-year options for extension.

DOT Shipping has a 50 percent stake in a large new-build construction support vessel, named Tampamachoco 1, which is ready but DOT deferred this vessel delivery with 1 year plus option for another year possible delay.


Oceanteam Solutions

Oceanteam Solutions is specialised in building demountable turntable systems that easily can be delivered in 40ft containers to all ports globally. The company designs and produces turntables in various sizes, for onshore and offshore use and for a variety of cables, umbilicals, pipes or flowlines. The Company provides full engineering design and consultancy services to clients in the oil and gas and renewables industries. Oceanteam Solutions can also provide services for complex structures both onshore and offshore. With the in-house engineering experience and expertise, clients can contract the most effective vessel and equipment solutions for their projects. Over the years Oceanteam Solutions has built up a broad client base worldwide, to which the company successfully supplies equipment and supports the client's offshore cable, pipeline and umbilical installations, transport and storage projects. From our base with deep-water quayside facilities in Velsen-Noord, the Netherlands, the company can accommodate all sizes of vessels for mobilisation and demobilisation with easy access to the North Sea.

Main operational projects Oceanteam Solutions (2016)

  • Supplying demountable turntables and auxiliary equipment for the multiple transport of cables from Asia to Europe.
  • Supply of 4000T and 1100T turntables and equipment for the storage, splicing and multiple loadouts at Oceanteam's base in Velsen (the Netherlands).
  • The company entered a framework agreement to supply the client with future equipment, transport and storage solutions, in addition to a major lay spread contract.
  • Multiple cable storage contracts.
  • Various multi-discipline design engineering contracts.
  • World's largest Ferris Wheel design, construction, lifting support continues to create significant amount of work.
  • Phase 1 Offshore Wind Park design in China completed and commenced phase 2.
  • Solutions has been awarded with a subsidy from TKI-WoZ for the further research and development of its Double Slip Joint (DSJ) concept.


Market outlook

Leveraging capabilities. The oil and gas market is expected to remain challenging for the coming period. However, the Company's early focus on offshore renewables, engineering and logistics solutions, plus its expansion in certain geographical areas will help Oceanteam to safely navigate the current market low as well as the structural changes in the oil and gas market. Oceanteam is also in the process of creating new revenue sources in the fields of civil engineering and offshore-related logistic solutions, making use of the same core capabilities that have made Oceanteam the distinguished niche player it is known as today.

Long-term commitment. The bondholders are continuing their support as significant capital providers of the Company. As part of the new agreement they have underlined the importance of maintaining continuity within and around the Company and improving it in a structured way. This will include keeping in place the existing executive and operational management, realising a slimmed-down cost structure and appointing a bondholder representative to the Board on 9 May 2017.

Purpose. Oceanteam operates in a complex environment and executes complex projects, which require a clear day-to-day commitment to safety, quality and operational details. Even though the Company has gone through a turbulent period, the Oceanteam staff and employees have never failed their commitments to clients and have never lost sight of new market opportunities. Oceanteam has a strong track record of delivering projects successfully under all circumstances and 2016 has been no exception. The Company has started and completed numerous projects, it has built new backlog, aligned its finances and laid a new foundation for the future.

Believe and trust. To date, Oceanteam's Board has made a constructive effort to reach the recent new agreement with the Company's bondholders. Mr. Hessel Halbesma (Chairman) and Haico Halbesma (CEO), as founders, main shareholders and Board members, have made personal commitments i.e. they have deferred significant due payments to themselves and, contrary to the new terms proposed by the bondholders, shared at least 50 percent of the Management Incentive Programme with various group companies and key personnel.

This effort reflects the strong belief the Board has in the present business opportunities and the Company's people to push their horizons of entrepreneurship.

 

Amsterdam/ Oslo, 23 June 2017

Executive Management and Board

 

About Oceanteam ASA

The Company is comprised of two operating segments, Oceanteam Shipping and Oceanteam Solutions. Oceanteam Shipping owns, charters and manages deep-water offshore support vessels and fast support vessels. Oceanteam Solutions' focus is to provide its clients with complete offshore solutions. Oceanteam ASA has been active in the industry as an offshore solutions provider for over twelve years.

For more information: www.oceanteam.no

For further information about Oceanteam ASA please contact:

CEO Haico Halbesma:

+31 20 53 57 570,

haico@oceanteam.no


This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

 

 



ANNUAL REPORT 2016



This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Oceanteam ASA, Postboks 463 Nesttun, Bergen 5853, Norge
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The Global Syringes Market Forecast 2017-2027

 
The Global Syringes Market Forecast 2017-2027
LONDON, June 23, 2017 /PRNewswire/ -- Revenue Prospects by Syringe Type (Reusable, Disposable), Material (Glass, Plastic), Product Type (Insulin, Tuberculin, Allergy, Other), End User (Hospitals, Homecare, Other) and Geography.      (Logo: http://mma.prnewswire.com/media/...
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Global Sanding Pad Market 2017-2021 - Increase in Use of Garnet - Forward Integration in Abrasive Market / Sustainability and Energy Efficiency - Research and Markets
DUBLIN, June 23, 2017 /PRNewswire/ -- Research and Markets has announced the addition of the "Global Sanding Pad Market 2017-2021" report to their offering. The global sanding pad market to grow at a CAGR of 5.77% during the period 2017-2021. Global Sanding Pad Market...
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India Carbon Black Market to Grow at a CAGR of 8.7% by 2026 - Robust Growth in the Automotive Sector & Expansion of Vehicle Manufacturing Facilities to Drive Growth - Research and Markets
DUBLIN, June 23, 2017 /PRNewswire/ -- Research and Markets has announced the addition of the "India Carbon Black Market, 2012-2026" report to their offering. The India carbon black market is projected to grow at a CAGR of 8.78% by the end of 2026. India carbon black market...
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Bulletproof Glass Market Worth 7.65 Billion USD by 2022
PUNE, India, June 23, 2017 /PRNewswire/ -- The report "Bulletproof Glass Market by End User (Automotive, Military, Banking & Finance, Construction), Application (Defense & VIP Vehicles, Cash-in-Transit Vehicles, Commercial Buildings), Security Levels, and Region - Global...
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A Successful Generation Success Technology Event Inspiring the Next Generation of Technology Experts
LONDON, June 23, 2017 /PRNewswire/ -- On the 20th June 2017, Generation Success hosted "GS Power Series: London Technology Week Special." This invigorating and rousing networking seminar provided today's aspiring youths with the invaluable opportunity to gain guidance by some of the...
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Research and Markets - Global Deep Learning Market Analysis 2014-2025 - Key Players are Intel Corporation, NVIDIA Corporation, IBM Corporation, and Microsoft Corporation
DUBLIN, June 23, 2017 /PRNewswire/ -- Research and Markets has announced the addition of the "Deep Learning Market Analysis By Solution, By Hardware (CPU, GPU, FPGA, ASIC), By Service, By Application (Image Recognition, Voice Recognition, Video Surveillance), By End-use, By Region,...
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Global Surveying Equipment Market 2017-2021: Emerging Ocean Technology - Research and Markets
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