Latest news with #SecuritiesAct
Business Recorder
8 hours ago
- Business
- Business Recorder
Lucky Cement says ‘unidentified flying object' hit Iraq plant
Lucky Cement Limited issued on Friday a clarification to the Pakistan Stock Exchange (PSX) to address what it called rumours arising from a video circulating on social media. The company reported 'negligible damage' to some electrical wiring at its cement plant in Iraq, adding the plant was full operational despite the incident. 'In accordance with Regulation 5.6.2 of the PSX Regulations read with Section 96 of the Securities Act, 2015, the following disclosure is being made to address the rumors arising from a video circulating on social media since yesterday and a clarification purported to be issued by the Company: 'In this regard, it is hereby informed that the cement plant, of the Company, under joint venture arrangement at Samawah, Iraq remains fully operational and no significant or material damage has been caused to the plant,' the company notice read. Lucky Cement further said the incident occurred due to an unidentified flying object colliding with the top part of the pre-heater installed at Samawah, Iraq which caused 'negligible damage to some electrical wiring'. Last month, Lucky Cement announced its new clinker line had started operations at Najmat Al-Samawah (NAS), located in Samawah. In May, 2023, Lucky and the Al-Shumookh group of Iraq resolved to enhance their clinker production capacity by adding a new line of 1.82 million tons per annum (MTPA) in Samawah.
Business Wire
8 hours ago
- Business
- Business Wire
Navan Announces Confidential Submission of Draft Registration Statement
PALO ALTO, Calif.--(BUSINESS WIRE)--Navan, Inc. has confidentially submitted a draft registration statement on Form S-1 with the SEC relating to a proposed initial public offering. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The proposed initial public offering remains subject to the completion of the SEC review process as well as market and other conditions. This announcement is being issued pursuant to, and in accordance with, Rule 135 under the Securities Act of 1933, as amended ("Securities Act"). This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations of offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act. About Navan Navan, the leading all-in-one business travel and expense management solution that makes travel easy for frequent travelers. From finding flights and hotels, to automating expense reconciliation, with 24/7 support along the way, Navan delivers an intuitive experience travelers love and finance teams rely on. See how Navan customers benefit and learn more at
Business Wire
13 hours ago
- Business
- Business Wire
Franklin BSP Realty Trust, Inc. Announces Issuance of Unsecured Senior Notes
NEW YORK--(BUSINESS WIRE)--Franklin BSP Realty Trust, Inc. (NYSE: FBRT) ('FBRT' or the 'Company') today announced that through its operating partnership, FBRT OP LLC, it has successfully issued, in a private offering, $107 million aggregate principal amount of unsecured senior notes, consisting of $82 million of 8.25% unsecured senior notes due 2030 (the 'Fixed Rate Notes') and $25 million of floating rate unsecured senior notes due 2028, with an initial coupon of approximately 8.33% (the 'Floating Rate Notes,' and together with the Fixed Rate Notes, the 'Notes'). The Fixed Rate Notes will mature on April 25, 2030 and the Floating Rate Notes will mature on April 25, 2028. The Company expects to use the net proceeds from the issuance of the Notes for general corporate purposes, which may include funding a portion of the purchase price for the recently announced acquisition of NewPoint Holdings JV LLC. There is no guarantee such acquisition will close, and the issuance of the Notes was not contingent on the closing of such acquisition. The Notes were offered only to persons reasonably believed to be qualified institutional buyers and accredited investors in reliance on Rule 144A and Regulation D under the Securities Act of 1933, as amended (the "Securities Act"), and non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The Notes will not initially be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from the registration requirements of the Securities Act or any state securities laws. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Franklin BSP Realty Trust, Inc. Franklin BSP Realty Trust, Inc. (NYSE: FBRT) is a real estate investment trust that originates, acquires and manages a diversified portfolio of commercial real estate debt secured by properties located in the United States. As of March 31, 2025, FBRT had approximately $5.7 billion of assets. FBRT is externally managed by Benefit Street Partners L.L.C., a wholly owned subsidiary of Franklin Resources, Inc. For further information, please visit Forward-Looking Statements Certain statements included in this press release are forward-looking statements. Those statements include statements regarding the intent, belief or current expectations of the Company and members of our management team, as well as the assumptions on which such statements are based, and generally are identified by the use of words such as "may," "will," "seeks," "anticipates," "believes," "estimates," "expects," "plans," "intends," "should" or similar expressions. Actual results may differ materially from those contemplated by such forward-looking statements. Further, forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law. The Company's forward-looking statements are subject to various risks and uncertainties. Factors that could cause actual outcomes to differ materially from our forward-looking statements include macroeconomic factors in the United States including inflation, changing interest rates and economic contraction, the extent of any recoveries on delinquent loans, the financial stability of our borrowers and the other, risks and important factors contained and identified in the Company's filings with the Securities and Exchange Commission ('SEC'), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and its subsequent filings with the SEC, any of which could cause actual results to differ materially from the forward-looking statements. The forward-looking statements included in this communication are made only as of the date hereof.
Cision Canada
a day ago
- Business
- Cision Canada
Shabina Ahmad given 30-month suspended sentence and banned from trading, advising, or selling securities
TORONTO , June 19, 2025 /CNW/ - The Ontario Securities Commission (OSC) announces that Ms. Shabina Ahmad has been given a 30-month suspended sentence, and probation for Possession of Property Obtained by Crime over $5000, contrary to s. 354(1)(a) of the Criminal Code. Ms. Ahmad is also banned from trading or acting to further a trade, advising on the purchase or sale of a security, or otherwise acquiring a security. The matter was prosecuted by the Peel Crown Attorney's office following a joint investigation by the OSC's Criminal Investigations and Prosecution Team and the Peel Regional Police. In addition to the probation order, Ms. Ahmad was ordered to pay restitution in the amount of $2500 to each to three separate victims, totaling $7500. Ms. Ahmad pleaded guilty to the offence and acknowledged possessing funds from three investors. The investors were falsely led to believe that when they paid money to Ms. Ahmad's TD Bank account, they were purchasing Bitcoin from a company called 'CreditEUBank.' The investors did not receive the promised Bitcoin and lost all their money. The OSC gratefully acknowledges the assistance and support of the Peel Regional Police in this joint investigation. The OSC's Criminal Investigations and Prosecutions Team investigates quasi-criminal and criminal offences related to securities, including the investigation of alleged recidivists. Charges laid under the Securities Act are prosecuted by the OSC. Charges laid under the Criminal Code are prosecuted by the Ministry of the Attorney General. The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at
CTV News
2 days ago
- Business
- CTV News
Man prohibited from financial markets 8 years ago charged with breaching ban, BCSC says
The TSX ticker is shown in Toronto on May 10, 2013. (Frank Gunn / The Canadian Press) B.C.'s financial markets regulator says a man has been charged with failing to comply with an order it made eight years ago banning him from a variety of investment-related activities. Marcel Anil Rada is scheduled to make his first appearance on the charges in North Vancouver provincial court on July 16, the B.C. Securities Commission said in a news release Wednesday. According to the commission, the 59-year-old allegedly acted as a director or officer of an issuer of securities between 2017 and 2015, despite being permanently banned from doing so. Online court records show Rada has been charged with two counts of contravention of B.C.'s Securities Act. The offence dates are listed as Oct. 5, 2017 and May 5, 2021. A BCSC panel permanently banned Rada from becoming or acting as a director or officer of any issuer in 2017. The ban was imposed based on a 2011 decision by the Investment Industry Regulatory Organization of Canada. In that decision, the organization accepted a settlement with Rada in which he admitted to a variety of misconduct. Rada admitted that he had raised $205,000 from people who were looking to invest in two different issuers of securities, without disclosing that the issuers would pay nearly all of this money – some $175,000 – to Rada. He also admitted to 'facilitating participation in off-book transactions without the knowledge and consent of his employer;' issuing a cheque to repay a loan to an issuer from an account that he knew or ought to have known had been closed two months earlier; and failing to co-operate with the IIROC's investigative staff. For this misconduct, he agreed to pay a $75,000 fine and $10,000 in costs, and to be permanently banned from reapproval by the IIROC in any capacity. The BCSC imposed its prohibitions on Rada under a section of the Securities Act that allows it to recognize decisions from other regulatory bodies. The ban was intended to 'protect investors and the capital markets in British Columbia,' according to the BCSC decision. The charges against Rada have not been proven. If convicted, he could face 'fines, imprisonment, probation and/or restitution orders,' according to the BCSC.
