The good, the merged, and the bad
Anwar Amro / AFP
One year into Lebanon’s economic crisis, country total net losses are estimated at more than 44 billion dollars by the World Bank’s recent report as of early Q2 2020 and as mentioned in the Government reform plan of April 2020 (at a foreign exchange rate estimated at 3,500 Lebanese pounds to the dollar). This results from losses at the Lebanon central bank (BDL), losses in the banking sector, and losses at the government level mainly from the Eurobonds default. In this regard, the banking sector needs a deep restructuring to reorganize its assets and build back the needed trust from its internal and external clients.
FY 2020 Preliminary Annual Results Savannah Energy PLC ( Savannah or the Company ), the African-focused British independent energy company sustainably developing high quality, high potential energy projects in Nigeria and Niger, is pleased to announce its unaudited preliminary results for the year ended 31 December 2020. A copy of the Annual Report and Accounts will be finalised and posted to Shareholders shortly and a separate notification made in this regard. Andrew Knott, CEO of Savannah Energy, said: 2020 represented our first full year of ownership since the completion of the acquisition of our Nigerian assets and our financial results show just how transformational the acquisition has been for Savannah. Against a challenging backdrop, we recorded a robust financial and operating performance. We beat all of our original financial guidance metrics. Total Revenues[1] and cash collections rose for the fifth consecutive y
WELL s CRH Medical Acquires Majority Stake in Two Anesthesia Practices
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CRH Medical Corporation ( CRH ), a wholly owned subsidiary of WELL Health, completes acquisitions of 51-per-cent stakes in both Northern Indiana Anesthesia Associates, LLC (
NIAA ) in Indiana, and an add-on practice for FDHS Anesthesia, LLC (
FDHS ) in Florida.
NIAA s current estimated annualized revenue run rate is approximately US$2.1 million, while FDHS s current estimated annualized revenue run rate is approximately US$1.2 million. Both companies combined revenue run rate of approximately US$3.3M has operating EBITDA margins of approximately 45%.
These two accretive acquisitions mark CRH Medical s 35th and 36th transactions respectively and increase CRH s footprint to a total 75 ambulatory surgical centers across the United States.
Transaction Capital Motor Holdco Proprietary Limited (âTCMHâ), a wholly-owned subsidiary of Transaction
Capital, has concluded a subscription agreement, a sale agreement and a warranty agreement (collectively
âtransaction agreementsâ) to (i) subscribe for shares in WBC Holdings Proprietary Limited (âWBC Holdcoâ) and
acquire shares from certain of the existing shareholders in WBC Holdco (âsubscription and sale transactionâ);
and (ii) exchange the existing shares held by TCMH in We Buy Cars Proprietary Limited (âWeBuyCarsâ) for
newly issued shares in WBC Holdco (âexchange transactionâ), such that following the implementation of the
transaction agreements, TCMH will hold 74.9% of the issued shares in WBC Holdco on a fully diluted basis (the
Both “interesting and sophisticated” (from “So Hard Done By” by The Tragically Hip), the Proposed Amendments are intended to reduce regulatory burden by fostering streamlined reporting and increasing reporting efficiency for reporting issuers (other than investment funds), while increasing the quality and usability of the disclosure provided to investors without compromising investor protection or the efficiency of the capital markets. In particular, the Proposed Amendments would streamline management s discussion and analysis (MD&A) and annual information form (AIF) requirements by combining them into one reporting document, together with an issuer’s financial statements.
BACKGROUND
Considerations for Reducing Regulatory Burden for Non-Investment Fund Reporting Issuers (see our May 2017