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The analysts forecast the global maritime VSAT market to grow at a CAGR of 13.74% during the period 2017-2021. VSAT services help in maritime surveillance, commodity tracking, identifying illegal fishing, improving maritime domain awareness (MDA), search and rescue operations, and anti-piracy. The major customers for this market are government agencies and commercial markets such as oil and gas companies. Protected patents and technology help companies in this market to enhance the reliability of communications. The adoption of maritime VSAT equipment among marine vehicles is rising rapidly. For more information or any query mail at sales@wiseguyreports.com The report covers the present scenario and the growth prospects of the global maritime VSAT market for 2017-2021. To calculate the market size, the report considers the revenue generated from the services including installation and maintenance support of maritime VSAT terminals. And also, the revenue generated from satellite communication providers and operators for offering connectivity services across frequency bands such as Ka and Ku bands, L-band, C-band, and high-throughput satellite (HTS) to oil and gas companies, government organizations, and vessel operators The market is divided into the following segments based on geography: • Americas • APAC • EMEA The report, Global Maritime VSAT Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. Market driver • Growing adoption of satellite communication to monitor oil and gas rigs • For a full, detailed list, view our report Market challenge • Congestion of frequency bands • For a full, detailed list, view our report Market trend • Increased use of satellite-based EO in maritime surveillance • For a full, detailed list, view our report Key questions answered in this report • What will the market size be in 2021 and what will the growth rate be? • What are the key market trends? • What is driving this market? • What are the challenges to market growth? • Who are the key vendors in this market space? • What are the market opportunities and threats faced by the key vendors? • What are the strengths and weaknesses of the key vendors? For more information or any query mail at sales@wiseguyreports.com ABOUT US: Wise Guy Reports is part of the Wise Guy Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Wise Guy Reports features an exhaustive list of market research reports from hundreds of publishers worldwide. We boast a database spanning virtually every market category and an even more comprehensive collection of rmaket research reports under these categories and sub-categories. For more information, please visit https://www.wiseguyreports.com


News Article | April 17, 2017
Site: co.newswire.com

​Amyotrophic lateral sclerosis (ALS) is a progressive neurodegenerative disease that is 100 percent fatal. This disease affects the nerve cells in the brain and spinal cord that control voluntary muscles and ultimately leads to their demise. When this occurs, the brain’s ability to control muscle movement is lost. Those with ALS may slowly lose their ability to move, speak, eat and ultimately, breathe. ALS is also called Lou Gehrig’s disease in honor of the baseball player who passed-away from the disease in 1941. This famous New York Yankee first-baseman brought national attention to the disease during his famous farewell speech. Stephen Hawking, known for his theory regarding black holes and the book he authored, A Brief History of Time, currently suffers from the disease that he was diagnosed with at the age of 21. This famous theoretical physicist was given less than 3 years to live at the time of his diagnosis. He is currently 75 and is, possibly, the longest surviving patient with ALS in history. Approximately 20,000 to 30,000 Americans have the disease at any given time. One person in the U.S. is diagnosed with ALS every 90 minutes. 5,000 people are diagnosed every year. ALS is difficult to diagnosis in its early stages with weakness being the predominant complaint. The symptoms are known to mimic other diseases such as cancer, depression, heart failure, anemia, Lyme disease and cervical spondylosis—leading to further missed or late diagnosis. There is currently only one FDA-approved drug for ALS: Riluzole (Rilutek). Some question if its benefits are worth the potential side effects. According to an analysis posted in NCBI, this type of therapy resulted in an increase in only 3 months survival time. The most commonly reported side effects are fatigue, nausea, and vomiting. Drugs are sometimes used to treat the symptoms. These may include drugs to relieve muscle spasms, pain or depression. Occupational and physical therapy is often introduced to help patients remain as active as possible and to help them find coping methods as their disabilities progress. There are several drugs that are in clinical trials. Dexpramiperole is in a phase 3 trial. Ceftiraxone was recently halted in the midst of a clinical trial due to its ineffectiveness in phase 3. Tirasemtiv appears to reduce fatigue and improve function and is now in phase 2. NP001 halted the progression of the disease in 27 percent of patients in phase 2 of the trial. In addition to drugs, stem cells and gene therapy are being researched as promising treatments, but all of these additional avenues of therapy are most likely years out of approval and public access. L-serine is a non-essential amino acid that is found in the human body. This important amino acid helps form phospholipids which are needed to make every cell. It is also involved with muscle formation and the proper functioning of the brain and central nervous system. It is found in the protective myelin sheaths that cover the nerves. A phase 1 clinical trial published in February of 2017 found it to be safe for patients with ALS. A study conducted on vervets, who had brain tangles and amyloid deposits similar to those found in ALS, reported a significant reduction when consuming L-serine.  According to Brain Chemistry Labs, it is currently in “FDA-approved human clinical trials sponsored by the Institute for EthnoMedicine and being conducted at Phoenix Neurological Associates. Human clinical trials are also being developed with the Forbes Norris MDA/ALS Research & Treatment Center at California Pacific Medical Center and the Dartmouth-Hitchcock Medical Center.” ARS Therapeutics recently released ALS Complete—a proprietary L-serine based supplement blend for ALS.  It contains 99.9 percent pure USP grade L-serine, calcium and magnesium. ALS Complete can be found at www.alstreatments.com.


News Article | May 5, 2017
Site: www.marketwired.com

CALGARY, AB--(Marketwired - May 05, 2017) - Husky Energy Inc. (TSX: HSE) -- Good operational performance in the first quarter delivered funds from operations of $709 million, a 63 percent increase compared to a year ago, and free cash flow of $325 million. "Our consistently improving performance over recent quarters has delivered increased free cash flow, demonstrating that the structural transformation of our business has reached critical mass," said CEO Rob Peabody. "This moves us closer to our objective of returning cash to shareholders as the market stabilizes, while continuing to invest in a deep portfolio of projects." Overall average Upstream production was 334,000 boe/day, up from 327,000 boe/day in the prior quarter. That compares to 341,000 boe/day in the first quarter of 2016. Production reflected the disposition in 2016 of approximately 32,000 boe/day of production in Western Canada, largely offset by growing thermal production and increased volumes from the Liwan Gas Project. Total upgrading and refining throughputs averaged 367,000 bbls/day, compared to 314,000 bbls/day in the same quarter last year. WTI prices averaged $51.91 US per barrel compared to $33.45 US per barrel in the first quarter of 2016. Average realized pricing for total Upstream production was $41.58 per boe, compared to $25.02 per boe in the same quarter the year before. This includes average realized gas pricing of $13.31 per thousand cubic feet (mcf) for sales gas at Liwan. The Chicago 3:2:1 crack spread averaged $11.22 US per barrel compared to $9.23 US per barrel in the first quarter of 2016. Average realized U.S. refining margins were $8.33 US per barrel compared to $3.76 US per barrel a year ago. Overall average Upstream operating costs were $13.75 per barrel. Funds from operations were $709 million, compared to $434 million in the first quarter of 2016. Net earnings were $71 million, compared to a loss of $458 million a year ago, reflecting higher commodity prices, increased production from thermal projects and Liwan, and higher throughputs and realized refining margins in both the Canadian and U.S. downstream operations. (1) Operating netback includes results from Upstream Exploration and Production and excludes Upstream Infrastructure and Marketing. (2) Refer to the "Non-GAAP Measures" advisory in this news release. Strong performance from the Edam East, Vawn and Edam West Lloyd thermal projects contributed to overall average net thermal bitumen production of 121,000 bbls/day, including the Tucker Thermal Project and Sunrise. Overall thermal operating costs were $11.83 per barrel in the quarter. The Edam East, Vawn and Edam West developments, which came on production in 2016, are producing at 20 percent above design capacity, averaging 30,000 bbls/day. Average operating costs for the three projects were $8.23 per barrel in the quarter. Construction continued to advance at the 10,000 bbls/day Rush Lake 2 Lloyd thermal project, with first oil expected in the first half of 2019. Open houses were held for the sanctioned 10,000 bbls/day Lloyd thermal projects at Dee Valley, Spruce Lake North and Spruce Lake Central, advancing the projects toward regulatory approval. At the Tucker Thermal Project, first production from a new eight-well pad began in the quarter and drilling continued on an additional 15-well pad. Production from Tucker is anticipated to ramp up through 2017 and 2018 towards 30,000 bbls/day. Gross production at Sunrise averaged 35,800 bbls/day (17,900 bbls/day net to Husky) in the quarter, up about six percent from the fourth quarter. Current production has reached 40,000 bbls/day (20,000 bbls/day net to Husky), with average per well pair production of about 730 bbls/day. Work is progressing to tie in 14 new well pairs, and steaming is expected to commence later this year. To date, the Company has signed purchase and sales agreements for the sale of about 3,300 boe/day of production in Western Canada for $88 million in gross proceeds. The Western Canada business is moving ahead with increased capital efficiency. The repositioned portfolio is now more than 70 percent gas-weighted, providing a natural hedge for the Company's energy requirements at its thermal projects and refineries. A 16-well program targeting the Wilrich formation in the Ansell and Kakwa areas is underway. A drilling program targeting the oil and liquids-rich Montney formation in the Wembley and Karr areas has commenced. Engineering work continued on the proposed asphalt refinery, which would double Husky's asphalt production capacity. An open house on the project was held in March as part of the regulatory process. Upgrading and refining throughputs averaged 367,000 bbls/day, contributing to overall capacity utilization of 95.5 percent. At the liquids-rich BD Project offshore Indonesia, preparations are being finalized for first production, including plans to commission the floating production, storage and offloading (FPSO) vessel. The project is expected to ramp up to its full sales gas rate in the second half of 2017, with a gross sales production target of 100 million cubic feet per day (mmcf/day) of gas (40 mmcf/day net to Husky) and 6,000 bbls/day of liquids (2,400 bbls/day net to Husky). At the MDA-MBH fields, platform construction is more than 40 percent complete. A contract for the floating production unit is awaiting final government approval. First gas is expected in the 2018-2019 timeframe, with an additional shallow water field at MDK expected to be tied in during the same period. Total gross sales gas volumes from BD, MDA-MBH and MDK are expected to be approximately 250 mmcf/day of gas (100 mmcf/day net to Husky) and 6,000 bbls/day of associated liquids (2,400 bbls/day net to Husky) once production is fully ramped up. At the Liwan Gas Project, gross sales gas volumes averaged 272 mmcf/day, with associated liquids production averaging 12,500 bbls/day. The Company realized pricing of $13.31 per mcf for its sales gas production. In April, Husky signed a production sharing contract for Block 16/25, located in the Pearl River Mouth Basin. The Company expects to drill two exploration wells on the shallow water block during the 2018 timeframe, in conjunction with two planned exploration wells at the nearby Block 15/33. Negotiations are progressing on a fixed-price gas sales agreement for the Liuhua 29-1 field. Project sanction is anticipated in the second half of 2017, subject to a final price agreement. A new infill well at North Amethyst began production in the quarter, with peak production of 8,600 bbls/day net to Husky. A second well is planned in 2017 at White Rose, with the combined net peak production expected to be about 15,000 bbls/day. Both wells will be tied back to the SeaRose FPSO, providing for improved capital efficiencies. Two exploration wells are scheduled to be drilled in the Flemish Pass Basin beginning in mid-2017. A final investment decision on the West White Rose Project will be considered this year. Regular dividend payments on each of the Cumulative Redeemable Preferred Shares -- Series 1, Series 2, Series 3, Series 5 and Series 7 -- will be paid for the three-month period ended June 30, 2017. The dividends will be payable on June 30, 2017 to holders of record at the close of business on June 12, 2017. A conference call will take place on Friday, May 5 at 8 a.m. Mountain Time (10 a.m. Eastern Time) to discuss the Company's first quarter results. CEO Rob Peabody, CFO Jon McKenzie and COO Rob Symonds will participate in the call. Following the conference call, the Company will hold its Annual Meeting of Shareholders at 10:30 a.m. (Mountain Time) in the Palomino Room at the BMO Centre, 20 Roundup Way S.E., Calgary, Alberta. A live webcast of the meeting will be available at www.huskyenergy.com under Investor Relations. The archived webcasts of the conference call and the meeting will be available for approximately 90 days. Husky Energy is a Canadian-based integrated energy company. It is headquartered in Calgary, Alberta, Canada and its shares are publicly traded on the Toronto Stock Exchange under the symbols HSE, HSE.PR.A, HSE.PR.B, HSE.PR.C, HSE.PR.E and HSE.PR.G. More information is available at www.huskyenergy.com Certain statements in this news release are forward-looking statements and information (collectively, "forward-looking statements"), within the meaning of the applicable Canadian securities legislation, Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended. The forward-looking statements contained in this news release are forward-looking and not historical facts. Some of the forward-looking statements may be identified by statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "will continue", "is anticipated", "is targeting", "is estimated", "intend", "plan", "projection", "could", "aim", "vision", "goals", "objective", "target", "schedules" and "outlook"). In particular, forward-looking statements in this news release include, but are not limited to, references to: There are numerous uncertainties inherent in projecting future rates of production and the timing of development expenditures. The total amount or timing of actual future production may vary from production estimates. Although the Company believes that the expectations reflected by the forward-looking statements presented in this news release are reasonable, the Company's forward-looking statements have been based on assumptions and factors concerning future events that may prove to be inaccurate. Those assumptions and factors are based on information currently available to the Company about itself and the businesses in which it operates. Information used in developing forward-looking statements has been acquired from various sources, including third party consultants, suppliers and regulators, among others. Because actual results or outcomes could differ materially from those expressed in any forward-looking statements, investors should not place undue reliance on any such forward-looking statements. By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the predicted outcomes will not occur. Some of these risks, uncertainties and other factors are similar to those faced by other oil and gas companies and some are unique to the Company. The Company's Annual Information Form for the year ended December 31, 2016 and other documents filed with securities regulatory authorities (accessible through the SEDAR website www.sedar.com and the EDGAR website www.sec.gov) describe risks, material assumptions and other factors that could influence actual results and are incorporated herein by reference. New factors emerge from time to time and it is not possible for management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent upon other factors, and the Company's course of action would depend upon management's assessment of the future considering all information available to it at the relevant time. Any forward-looking statement speaks only as of the date on which such statement is made and, except as required by applicable securities laws, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. This news release contains references to the terms "funds from operations", "free cash flow" and "adjusted net earnings (loss)", which do not have standardized meanings prescribed by International Financial Reporting Standards ("IFRS"). Refer to "Non-GAAP Measures" in section 11 of the Company's Management's Discussion and Analysis for the year ended December 31, 2016. This news release also contains references to "operating netback" and "net debt", which do not have standardized meanings prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other issuers. Operating netback is a common non-GAAP measure used in the oil and gas industry. This measure assists management and investors to evaluate the specific operating performance by product at the oil and gas lease level. Operating netback is calculated as gross revenue less royalties, production and operating and transportation costs on a per unit basis. Net debt is a non-GAAP measure that equals total debt less cash and cash equivalents. Total debt is calculated as long-term debt, long-term debt due within one year and short-term debt. Net debt is considered to be a useful measure in assisting management and investors to evaluate the Company's financial strength. The following table shows the reconciliation of total debt to net debt as at March 31, 2017 and December 31, 2016: The Company uses the term "barrels of oil equivalent" (or "boe"), which is consistent with other oil and gas companies' disclosures, and is calculated on an energy equivalence basis applicable at the burner tip whereby one barrel of crude oil is equivalent to six thousand cubic feet of natural gas. The term boe is used to express the sum of the total company products in one unit that can be used for comparisons. Readers are cautioned that the term boe may be misleading, particularly if used in isolation. This measure is used for consistency with other oil and gas companies and does not represent value equivalency at the wellhead. Unless otherwise noted, projected and historical production volumes are presented on a net to Husky before royalties basis. All currency is expressed in Canadian dollars unless otherwise indicated.


LONDON, UK / ACCESSWIRE / April 17, 2017 / Active Wall St. announces the list of stocks for today's research reports. Pre-market the Active Wall St. team provides the technical coverage impacting selected stocks trading on the Toronto Exchange and belonging under the Application Software industry. Companies recently under review include MacDonald Dettwiler and Associates, Absolute Software, Descartes Systems Group, and GoldMoney. Get all of our free research reports by signing up at: http://www.activewallst.com/register/. On Thursday, April 13, 2017, at the end of trading session, the Toronto Exchange Composite index ended the day at 15,535.48, 0.72% lower, with a total volume of 317,745,895 shares. Additionally, the Technology index was slightly down by 0.57%, ending the session at 59.73. Active Wall St. has initiated research reports on the following equities: MacDonald Dettwiler and Associates Ltd. (TSX: MDA), Absolute Software Corporation (TSX: ABT), The Descartes Systems Group Inc. (TSX: DSG), and GoldMoney Inc. (TSX: XAU). Register with us now for your free membership and research reports at: http://www.activewallst.com/register/. Vancouver, Canada-based MacDonald, Dettwiler and Associates Ltd's stock edged 0.04% higher, to finish Thursday's session at $69.14 with a total volume of 135,751 shares traded. Over the last one month and the previous three months, MacDonald, Dettwiler and Associates' shares have advanced 3.66% and 0.01%, respectively. The Company's shares are trading above its 50-day moving average. MacDonald, Dettwiler and Associates' 200-day moving average of $70.89 is above its 50-day moving average of $67.63. Shares of the Company, which provides operational solutions to commercial and government organizations worldwide, are trading at a PE ratio of 18.51. See our research report on MDA.TO at: http://www.activewallst.com/register/. On Thursday, shares in Vancouver, Canada headquartered Absolute Software Corp. recorded a trading volume of 18,526 shares. The stock ended the day 0.54% higher at $7.44. Absolute Software's stock has advanced 0.54% in the last one month and 11.71% in the previous three months. Furthermore, the stock has gained 10.06% in the past one year. Shares of the Company, which develops, markets, and supports endpoint security and data risk management, and endpoint management solutions for desktops, laptops, tablets and smartphones in Canada, the US, and internationally, are trading above its 50-day and 200-day moving averages. The stock's 50-day moving average of $7.40 is above its 200-day moving average of $6.78. The complimentary research report on ABT.TO at: http://www.activewallst.com/register/. On Thursday, shares in Waterloo, Canada headquartered The Descartes Systems Group Inc. ended the session 0.23% lower at $29.83 with a total volume of 43,439 shares traded. Descartes Systems' shares have gained 4.59% in the last three months and 16.43% in the previous one year. The stock is trading above its 200-day moving average. Furthermore, the stock's 50-day moving average of $30.02 is greater than its 200-day moving average of $28.85. Shares of Descartes Systems, which provides federated network and logistics technology solutions worldwide, are trading at a PE ratio of 96.23. Register for free and access the latest research report on DSG.TO at: http://www.activewallst.com/register/. Toronto, Canada headquartered GoldMoney Inc.'s stock closed the day 0.61% lower at $3.25. The stock recorded a trading volume of 6,430 shares. Shares of the Company, which operates gold- based financial service platforms, are trading below their 50-day and 200-day moving averages. Moreover, the stock's 200-day moving average of $3.57 is greater than its 50-day moving average of $3.28. Get free access to your research report on XAU.TO at: http://www.activewallst.com/register/. Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below. AWS has not been compensated; directly or indirectly; for producing or publishing this document. The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way. AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice. This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/. For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at: CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute. LONDON, UK / ACCESSWIRE / April 17, 2017 / Active Wall St. announces the list of stocks for today's research reports. Pre-market the Active Wall St. team provides the technical coverage impacting selected stocks trading on the Toronto Exchange and belonging under the Application Software industry. Companies recently under review include MacDonald Dettwiler and Associates, Absolute Software, Descartes Systems Group, and GoldMoney. Get all of our free research reports by signing up at: http://www.activewallst.com/register/. On Thursday, April 13, 2017, at the end of trading session, the Toronto Exchange Composite index ended the day at 15,535.48, 0.72% lower, with a total volume of 317,745,895 shares. Additionally, the Technology index was slightly down by 0.57%, ending the session at 59.73. Active Wall St. has initiated research reports on the following equities: MacDonald Dettwiler and Associates Ltd. (TSX: MDA), Absolute Software Corporation (TSX: ABT), The Descartes Systems Group Inc. (TSX: DSG), and GoldMoney Inc. (TSX: XAU). Register with us now for your free membership and research reports at: http://www.activewallst.com/register/. Vancouver, Canada-based MacDonald, Dettwiler and Associates Ltd's stock edged 0.04% higher, to finish Thursday's session at $69.14 with a total volume of 135,751 shares traded. Over the last one month and the previous three months, MacDonald, Dettwiler and Associates' shares have advanced 3.66% and 0.01%, respectively. The Company's shares are trading above its 50-day moving average. MacDonald, Dettwiler and Associates' 200-day moving average of $70.89 is above its 50-day moving average of $67.63. Shares of the Company, which provides operational solutions to commercial and government organizations worldwide, are trading at a PE ratio of 18.51. See our research report on MDA.TO at: http://www.activewallst.com/register/. On Thursday, shares in Vancouver, Canada headquartered Absolute Software Corp. recorded a trading volume of 18,526 shares. The stock ended the day 0.54% higher at $7.44. Absolute Software's stock has advanced 0.54% in the last one month and 11.71% in the previous three months. Furthermore, the stock has gained 10.06% in the past one year. Shares of the Company, which develops, markets, and supports endpoint security and data risk management, and endpoint management solutions for desktops, laptops, tablets and smartphones in Canada, the US, and internationally, are trading above its 50-day and 200-day moving averages. The stock's 50-day moving average of $7.40 is above its 200-day moving average of $6.78. The complimentary research report on ABT.TO at: http://www.activewallst.com/register/. On Thursday, shares in Waterloo, Canada headquartered The Descartes Systems Group Inc. ended the session 0.23% lower at $29.83 with a total volume of 43,439 shares traded. Descartes Systems' shares have gained 4.59% in the last three months and 16.43% in the previous one year. The stock is trading above its 200-day moving average. Furthermore, the stock's 50-day moving average of $30.02 is greater than its 200-day moving average of $28.85. Shares of Descartes Systems, which provides federated network and logistics technology solutions worldwide, are trading at a PE ratio of 96.23. Register for free and access the latest research report on DSG.TO at: http://www.activewallst.com/register/. Toronto, Canada headquartered GoldMoney Inc.'s stock closed the day 0.61% lower at $3.25. The stock recorded a trading volume of 6,430 shares. Shares of the Company, which operates gold- based financial service platforms, are trading below their 50-day and 200-day moving averages. Moreover, the stock's 200-day moving average of $3.57 is greater than its 50-day moving average of $3.28. Get free access to your research report on XAU.TO at: http://www.activewallst.com/register/. Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below. AWS has not been compensated; directly or indirectly; for producing or publishing this document. The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way. AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice. This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/. For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at: CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.


News Article | April 18, 2017
Site: globenewswire.com

The objective of the remuneration policy implemented by the Group is to attract, motivate and retain employees in the long term, while ensuring an appropriate management of risks and compliance, and promoting the Group's values. With respect to the Chief Executive Officers, it is furthermore aimed at rewarding the implementation of the Group's long-term strategy in the interests of its shareholders, its clients and its employees. The governance applied by the Group ensures an exhaustive and independent review of the remuneration policy, through: This remuneration policy has been established in compliance with relevant regulations, in particular the European Directive 2013/36/UE, published on 26 June 2013 (hereinafter - "CRD IV") and its transposition in France via Order n°2014-158 of 20 February 2014, for the staff members exerting a significant impact on the Group's risk profile (hereinafter "regulated population"). It is subject to regular review: In addition, with respect to the Chief Executive Officers, it respects the recommendations of the AFEP-MEDEF Corporate Governance Code. GROUP'S POLICY AND PRINCIPLES WITH REGARD TO REMUNERATION In addition to the constraints imposed by CRD III, the CRD IV, which applies since 2014, includes provisions for: In 2014, the Group completed the implementation of the CRD IV requirements through: ° The 2016 regulated population was defined, as in 2015, on the basis of the identification criteria specified in the EBA regulatory technical standards (level of responsibility, impact in terms of risk exposure and level of total remuneration). On the basis of these criteria, the regulated population for 2015 included 754 staff (excluding the Chairman of the Board and the Chief Executive Officers), compared with 676 in 2015.This increase is mainly due to the Group's decision not to notify exemptions of some employees identified only by their level of total remuneration. ° The approach in terms of the determination and structure of variable remuneration for the regulated population is in continuity with that applied in previous years and remains compliant with the CRD IV requirements. The key principles are as follows: As a result, the part of variable remuneration that is immediately paid out in cash is capped at 30% and can go down to 15% for the highest variable remunerations. The share equivalents, in addition, are subject to a retention period of at least six months. Starting from 2014, the variable compensation arrangements for the Group Executive Committee and the Management Committee impose more stringent rules as compared to those applicable to other regulated staff, and are aligned with the scheme applied to the Chief Executive Officers (cf. below). The non-vested component of their variable remuneration is deferred over five years, including a part deferred in one third over three years as described above, and a part in the form of long-term incentive vesting after five years, attributed in the form of Société Générale shares or share equivalents and subject to performance conditions depending on the relative performance of Société Générale share (cf 2.3.3). ° In compliance with regulation, Société Générale's General Annual Meeting which took place on 20 May 2014 approved the increase of the ratio between variable and fixed components of remuneration to 200% for all the Group regulated population. This decision will remain in force until reconsidered by the General Meeting. ° The variable remuneration pool awarded to the regulated population with respect to 2016 was  240.1 M€ and total variable and fixed remuneration amounted to 491.1 M€. The resulting average remuneration is down as compared to  2015, by -12% in terms of the variable component and by -8%, in terms of total fixed and variable remuneration[2], at constant exchange rate: Data excluding Chairman of the Board and Chief Executive Officers This document was drafted in application of Articles L511-71 to L511-88 of the French Monetary and Financial Code, as amended by Ordinance n°2014-158 of 20 February 2014 which modified the regulatory requirements concerning the remuneration of staff whose activities are likely to have a significant impact on the risk profile of credit institutions and investment firms. Ordinance n°2014-158 of 20 February 2014 (complemented by Decree n°2014-1315 and the Order relative to internal control, both dated 3 November 2014) transposed into the French law the remuneration provisions of the European Directive 2013/36/EU of 26 June 2013 (hereinafter - "CRD IV"). The Group's remuneration policy is reviewed every year. It is defined by General Management, on a proposal of the Group Human Resources Division. The Board of Directors approves this policy, after examining the Compensation Committee's recommendation. The Group's remuneration policy, in particular with regard to the categories of staff whose activities have a significant impact on the Group's risk profile (hereinafter "regulated staff"), is applied to Société Générale as well as the entities it controls, in France and throughout the world. The policy applied to the regulated staff is adapted outside France in order to comply with local regulations. The Group's rules are prevalent, except when local regulations are more stringent. The definition of this policy draws on analysis of the market context and compensation surveys carried out by external consultants (e.g. Aon-Hewitt/MacLagan, Towers Watson, Mercer, PricewaterhouseCoopers). 1.1      The composition and the role of the Compensation Committee As of 31 December 2016, the Compensation Committee is composed of four members, including three independent directors. Lorenzo Bini Smaghi, Chairman of the Board of Directors, participated in all the sessions of the Compensation Committee, starting from the date of his appointment.  The link with the Risk Committee has been reinforced via the nomination of an Independent Director who is both member of the Risk Committee and the Compensation Committee. The Compensation Committee includes the following directors: Jean-Bernard LEVY, Chairman and Chief Executive Officer of EDF: Independent Director, President of the Compensation Committee, Member of the Nomination and Corporate Governance Committee. Gérard MESTRALLET, Chairman of the Board of ENGIE: Independent Director, President of the Nomination and Corporate Governance Committee, Member of the Compensation Committee. Juan Maria NIN GENOVA, Company Director: Independent Director, Member of the Risk Committee, Member of the Compensation Committee. France HOUSSAYE, Product and partnership Coordinator at the Rouen branch: Director elected by employees, Member of the Compensation Committee. The main missions of the Compensation Committee are defined in Section 3 on corporate governance of the 2016 Registration Document. The Compensation Committee reports its findings to the Board of Directors. It carries out the same tasks for the Group companies supervised by the French Prudential Supervisory Authority (hereinafter "ACPR") on a consolidated or sub-consolidated basis. More specifically, the Compensation Committee met seven times during the remuneration review process spanning the period 2016 - 2017. During these meetings, the Committee prepared the Board's decisions with respect to the following issues: The Compensation Committee specifically ensured during the last period that the remuneration policy takes into account the risks generated by the businesses, and that employees comply with the risk-management policies and professional norms, and consulted with the Risks Committee on the issue. 1.2      Internal governance of remuneration within the Group The annual process conducted to review individual situations (fixed salary and, when relevant, variable remuneration and/or performance shares) is coordinated by the Group Human Resources Division following various validation stages at the level of subsidiaries/business lines, Core Businesses and Central Divisions, the Group Human Resources Division and General Management and finally the Supervisory Board upon the recommendation from the Compensation Committee. The final validation covers policy and budgets for the whole Group, as well as individual allocations for the key positions and the highest levels of remuneration, with the Group Human Resources Division ensuring the consistency of the overall process and documenting the final validation stage at Group level. Legal and regulatory obligations in force in entities in France and in entities and countries outside France are taken into account in this process. Moreover, General Management has defined, in addition to the annual process conducted to review individual situations, a system for the governance and delegation of remuneration decisions which applies to the entire Group. Above certain thresholds and under certain conditions, decisions relating to remuneration, which can be taken in various situations of human resources management (recruitment, functional or geographical mobility, promotion, departure,.) require validation by the Group Human Resources Division or General Management. These delegation rules are notified to Core Businesses and Central Divisions that subsequently apply them at their level. In compliance with the rules concerning bank remuneration policies and practices defined within the framework of the European CRD IV Directive and transposed into French law via notably Ordinance n°2014-1158 of 20 February 2014, the control functions, including in particular the Risk Division, the Compliance Department and the Finance Division, are involved in the process of reviewing the Group's variable remunerations and, more specifically, those of the CRD IV regulated population. Control functions intervene in particular at the following key stages: The independence of these control functions is guaranteed by hierarchical reporting to the Group's General Management. Moreover, as with all Group support functions, these functions are compensated through variable remuneration pools determined according to the Group's overall performance, independently of the results of the activities they control. The allocation of these variable remuneration pools is based on the extent to which objectives specific to their function are met. This governance system ensures that remuneration decisions are made independently and objectively. The process is annually reviewed ex post by the Internal Audit Division. The aim of the Group's remuneration policy is to enhance the efficiency of remuneration as a tool for attracting and retaining employees who contribute to the long term success of the company while ensuring that employees manage risks in an appropriate manner and comply with regulations. This policy is based on principles common to the whole Group, which are then implemented by each business line and geographic area in which the Group operates, taking into account the market practices. Remuneration includes a fixed component that rewards the capacity to hold a position in a satisfactory manner through the employee's displaying the required skills and, when relevant, a variable component that aims to reward collective and individual performance, depending on objectives defined at the beginning of the year and conditional on results, the context and also the behaviour displayed to meet said objectives, according to standards shared by the entire Group. Employees whose variable remuneration award is below a certain level may also benefit from a long term incentive award in the form of performance shares. The corresponding pools of LTI are mainly dedicated to employees who have been identified as strategic talents, key resources and top performers. The Group's remuneration policy is defined in a manner that avoids providing incentives that may result in situations of a conflict of interests between employees and clients. The governance principles and rules governing remuneration are set out in the Group's normative documentation concerning the management of conflicts of interest. 2.1       Conformance of the Group remuneration policy with regulatory requirements In defining its remuneration policy, Société Générale Group undertakes to comply with all the applicable regulations, notably: The main provisions of the regulations above regarding remunerations are as follows: The remuneration policy of Société Générale Group incorporates the different constraints listed above in the following manner: Via the mechanisms described above, absence of direct link between commercial performance and variable remuneration is ensured. Assessments carried out internally and externally demonstrate that the Group's remuneration policy complies with regulatory requirements. Internally, the Group's remuneration policy is reviewed regularly and independently by the Internal Audit Division since 2010. The latest review carried out in 2016 covered the remuneration policy applied for 2015 to the regulated population. The Internal Audit Division concluded that the risk of non-compliance of the Group's remuneration policy was managed in a satisfactory manner, both from the point of view of governance of the overall process and of the respect of the quantitative and qualitative rules applied to the variable remunerations awarded for the performance year 2015. In addition, the Group's remuneration policy is regularly reviewed by external supervisory bodies (ACPR, ECB, EBA, Federal Reserve,...). 2.2      Perimeter of the regulated population in 2016 In continuity with the previous financial years and in line with regulations, the regulated staff scope covers all employees whose professional activities have a material impact on the Bank's risk profile, including employees exercising control functions. In 2015, the methodology of determination of the Group regulated staff, based on the Regulation (EU) 604/2014, led to the identification of 676 staff members (excluding Chief Executive Officers). In 2016, the scope of the regulated staff was updated on the basis of the same regulatory technical standards which include: On this basis, the perimeter of the 2016 regulated staff includes: In fine, the 2016 Group regulated staff comprised 758 staff members (including the Chairman of the Board and the three Chief Executive Officers). The increase of the number of regulated staff between 2015 and 2016 is explained essentially by the fact that the Group decided to forego the possibility to notify the exemption of some employees identified solely by their total remuneration but not exerting a significant impact on risks. The perimeter of the population will more generally be reviewed every year to take into account changes in terms of internal organisation and remuneration levels. The employees identified as regulated are notified of their status. In addition, 286 staff members (including 35 already identified at the Group level) have been identified as regulated within ten subsidiaries of the Group located within the European Economic Area. These entities must apply on individual basis the CRD IV Directive as they are considered significant entities in their respective countries: In addition to the staff members identified as material risk takers under CRD IV, as some activities of Société Générale Group are subject to other regulations, other populations are identified and subject to specific constraints, in particular asset management firms under AIFMD and UCITS and insurance companies under Solvency II. In compliance with articles 198 and 199 of the Order of 3 November 2014, asset management firms and insurance companies have been excluded from the scope of identification of the CRD IV regulated population on a consolidated basis. However, as indicated above, these companies are subject to other specific regulations - with principles similar to CRD IV - and specific regulated populations have been identified in these companies. Allocation of variable remuneration depends on both individual and collective performance and takes into account previously defined quantitative and qualitative criteria, integrating risks. It also takes into consideration the economic, social, and competitive context. In order to avoid any conflicts of interest, variable remuneration is not directly or solely linked to the amount of revenues generated. In addition, for several categories of employees (staff regulated under CRD IV, AIFMD, UCITS V; all employees within Global Banking and Investor Solutions and Central Divisions beyond a certain threshold), a significant portion of variable remuneration is deferred over three years and subject to presence and performance conditions of the business line and/or activity concerned. As such, when performance conditions are not met, the deferred component of variable remuneration is partially or fully forfeited. Furthermore, any excessive risk taking or any behaviour deemed unacceptable by General Management may result in a reduction or total forfeiture of this deferred component. Finally, the variable remuneration of the CRD IV regulated staff is capped at two times the fixed remuneration. 2.3.1     Link between variable remuneration and performance and alignment of variable remuneration with risk within the Group (ex ante) The variable remuneration pool of Global Banking and Investor Solutions (GBIS) is defined on the basis of performance indicators which take into account all costs and risks inherent to the activities (liquidity; counterparty; market; operational; legal; non compliance; capital - cf. detail in the table below) Variable remuneration pools are set by business line, at a global and regional level, in order to ensure financial solidarity between the various activities and avoid conflicts of interest. Part of the variable remuneration pool of each business line is allocated to a transversal pool that is used to finance variable remuneration for activities still in their development stage and support functions (operations, information technology,.). The methodology used for the determination of the GBIS variable remuneration pool has been defined by an ad hoc committee with the participation of General management, Finance Division, Risk Division, Human Resources Department and GBIS management. It complies with the relevant regulatory requirements. The GBIS variable remuneration pool was validated on this basis by the Board of Directors after review by the Compensation Committee. Within Retail Banking in France and International Banking and Financial Services, the variable remuneration pools are determined notably on the basis of the evolution of the operating income, which includes the different costs and risks inherent to the activities of these Core Businesses, as well as on the Return on Normative Equity (RONE)[4]. For Central Divisions, the evolution of variable remuneration pools is based on the evolution of Group results, in particular on the net income Group share and on the ROE. This is notably the case for control functions which are integrated to the Central Divisions and for which variable remuneration pools are determined independently of the results of the business activities they control. For all Core Businesses and Central Divisions, the setting of the pools, as well as their allocation to businesses/entities, depends on the aforementioned quantitative factors but also on several qualitative factors, which include: In addition, the Risk Division and the Compliance Department carry out an independent assessment of businesses/entities having a significant impact on the Group's risk profile, essentially within Global Banking and Investor Solutions, International Banking and Financial Services and French Retail Banking. Each business/entity is assessed by the Risk Division with respect to the way it manages counterparty risks, market risks and operational risks and by the Compliance Department with respect to managing non-compliance risk. Thus, the assessment made by the Risk and Compliance experts on the collective management of risks has a weighting effect on the manner in which variable remuneration pools are allocated between businesses/entities. For the Group's senior managers (Chief Executive Officers, Group Executive Committee and Management Committee), variable remuneration is not based on a collective pool but is determined individually on the basis of the Group's financial results, the results of the business activity they supervise, the extent to which they have met their specific qualitative and quantitative objectives and taking into account market practices as reported by remuneration surveys. Moreover, the Finance Division includes the proposed global variable remuneration pool at Group level in the budget forecasts that are used as a basis to project regulatory capital ratios. In this respect, variable remuneration is taken into account alongside other factors in capital planning and in terms of its adequacy with the objectives set by the Bank. The MDA[5] mechanism can restrict the distribution of earnings (including in particular variable remuneration) if the bank's capital ratios fall below certain thresholds. Therefore, this policy fully preserves capital and liquidity, by encouraging to respect financial targets linked to capital and liquidity, and via the conditions for the award and vesting of the deferred part of the variable remuneration. Moreover, this remuneration policy is completely integrated in the capital planning and does not prevent the respect of the fully-loaded capital ratios, in compliance with the BCE recommendations. The determination of the variable remuneration pools, which takes into account the risk appetite financial targets, remains in fine at the discretion of the General management. Notably, the General Management reserves the right to re-calibrate variable remuneration pools if they limit the Bank's capacity to maintain the level of capital required to meet the target prudential ratios. The individual allocations of variable remuneration components take into account, for the entire Group, an annual individual performance appraisal based on the achievement of quantitative and qualitative objectives. By consequence, there is no direct or automatic link between the commercial and financial results of an individual employee and his/her level of variable remuneration insofar as employees are assessed on their results, those of their activity and the way in which said results were achieved. The recommended methodology for the objective setting is the SMART method (the objectives are Specific, Measurable, Accessible, Realistic and fixed within a Timeframe) in order to define objectives that are clearly identified and can be assessed by indicators that are known to the employee. The qualitative objectives are tailored to the individual employee, in relation to the employee's professional activity and adapted to the position held. These objectives include the quality of risk management, the means used and behaviours displayed to achieve results such as cooperation, teamwork and human resources management, as well as the management of clients' interests and satisfaction. Such qualitative objectives are listed in a common reference document that is used throughout the Group. In addition to the individual appraisal carried out by line managers, the Risk Division and the Compliance Department independently assess categories of staff regulated under the CRD IV, AIFMD and UCITS V, essentially within Global Banking and Investor Solutions, International Banking and Financial Services and Retail banking in France. They review in particular: In 2016, the Risk Division and the Compliance Department assessed, within the framework of the same exercise, the employees in charge of trading desks under Volcker Rule and the French Banking Law[6] desks (including those who are also regulated in the sense of CRD IV). In addition to the above, the Risk Division and the Compliance Department may extend the scope of evaluated employees beyond staff regulated under the CRD IV, AIFMD and UCITS V and Volcker Rule/French Banking Law Desk Heads, if considered appropriate. The senior management of the relevant Core Businesses, General Management and the Group Human Resources Division take the conclusions from the Risk Division and the Compliance Department into consideration when approving the overall variable remuneration pools and the way in which they are allocated at an individual level. The proposed variable awards are adjusted downwards in the event of a negative appraisal by the Risk Division and/or the Compliance Department. The conclusions and negative impacts are communicated to the Compensation Committee. Taking into account performance and risks ex ante within Global Banking and Investor Solutions (0)      ° The market risks and market losses are included at the level of the NBI through the trading results.            ° The counterparty risks linked to market operations are also taken into account in the NBI, through the Credit Value Adjustment (CVA) and the Debt Value Adjustment (DVA).             ° The operational risks and losses are also included at the NBI level. (1)      : The net cost of risk includes counterparty risks in the following manner: ° For  financing activities : losses expected over a one-year period on the portfolio + 10% of the accounting provisions for risks for the reporting year ° For private banking, asset management and investor services: accounting provisions for risks for the reporting year (2) RONE: Return on normative equity calculated as [(11% * average Risk Weighed Assets/RWA) + complementary own funds]. The RWA take into account counterparty, market and operational risks. The Net result taken into account for the calculation is based on the Net Cost of Risk as defined in (1). The structure of the variable remuneration awarded to CRD IV regulated staff for the 2016 performance year includes, in compliance with regulation, above a threshold of 100 K€: Accordingly, the part paid immediately in cash is capped at 30%. It can even go down to 15% for the highest variable remunerations. More precisely, the variable remuneration scheme of CRD IV regulated staff is structured as follows (cf. table below): The non-transferability period is at least six months for instruments indexed to the Société Générale share price. All payments corresponding to instalments in shares or share equivalents, made after the non-transferability period, will be increased by the value of the dividend paid during the non-transferability period, if applicable. All employees receiving deferred variable remuneration are prohibited from using hedging or insurance strategies during both the vesting period and the non-transferability period. In accordance with the policy applied for the Chief Executive Officers, the variable remuneration structure of the members of the Group Executive Committee and Management Committee, all members of which are regulated under CRD IV, is more constraining. The non-vested component of their variable remuneration is deferred over five years[8], out of which a part over three years pro rata temporis as mentioned above and a part under a long term incentive plan which vests after five years, awarded in Société Générale shares or share equivalents7 and subject to conditions depending on the relative performance of the Société Générale share (cf 2.3.3). The employees working within asset management and who are regulated under AIFMD and UCITS V are subject to a variable remuneration scheme equivalent to that described above for CRD IV regulated staff, the instruments awarded being though, in compliance with AIFMD and UCITS V regulations, indexed to a basket of managed funds instead of being linked to the value of the Société Générale share. The staff members working within insurance activities and who are regulated under Solvency II are subject to a variable remuneration scheme equivalent to that described above for CRD IV regulated staff, and their performance conditions are linked to the results of the insurance business. 2.3.2.4 Other staff whose variable remuneration is partly deferred Beyond staff regulated under CRD IV, AIFMD and UCITS V, the variable remuneration of staff within Global Banking and Investor Solutions and Central Divisions is also subject, when it exceeds 100 K€, to a deferred payment on progressive rate over three years vesting on pro-rata temporis basis, with a first instalment in cash and the two following ones in shares or equivalent shares7. The non-vested part is subject to the same vesting conditions as for CRD IV regulated staff. By way of reminder, the Group ceased to grant stock options since 2011. 2.3.3     Performance conditions and risk alignment of deferred variable remuneration (ex post) For all staff whose variable remuneration is partly deferred, the vesting of the deferred variable remuneration component depends entirely on both (i) the fulfilment of a performance condition and (ii) appropriate management of risks and compliance. Performance conditions are tailored according to the division and activity. If a minimum performance level is not met every year, non-vested variable remuneration is partially or entirely forfeited (malus principle mentioned in Article L 511-83 of the Financial and Monetary Code). Performance thresholds are set by the Finance Division and are approved by the Board of Directors. Performance conditions are set according to the level of responsibility and are increasingly demanding in line with the beneficiary's hierarchical level. Société Générale senior executives are subject to specific performance conditions, in line with the objectives set out in the Group's strategic plan. The performance conditions applied to deferred remuneration, by managerial layer, are summarised in the following table: Note: the panel of banks used to calculate the TSR includes, in addition to Société Générale: Barclays, BBVA, BNP Paribas, Crédit Agricole, Crédit Suisse, Deutsche Bank, Intesa Sanpaolo, Nordea, Santander, UBS and Unicredit. In addition, any excessive risk taking or any behaviour deemed unacceptable by General Management may result in these deferred remuneration components being reduced or forfeited. 2.3.4     Ratio between variable and fixed remuneration for CRD IV regulated staff The CRD IV Directive introduced a cap on the variable component of remuneration, which cannot exceed the fixed component, with the possibility for the Annual General Shareholders' Meeting to approve a higher maximum ratio of up to 2:1 between variable and fixed components. In accordance with the regulation and more specifically with Ordinance n°2014-158 of 20 February 2014 which transposed this Directive, the Annual General Meeting of 20 May 2014 approved a maximum ratio of 2:1 between variable and fixed components of remuneration for the members of the CRD IV Group regulated population. This decision will remain in force until reconsidered by the General Meeting. Each regulated staff is compliant with this maximum ratio. For the members of the Group Executive Committee and Management Committee, who are beneficiaries of a long term incentive plan vesting after five years and awarded in Société Générale shares or share equivalents, the faculty given by the Ordinance n°2014-518 of 20 February 2014 to apply a discount rate to the part of the variable remuneration awarded in instruments and deferred for at least five years has been applied to compute the ratio between variable and fixed components. 2.3.5     The 2016 variable remuneration pool of the CRD IV regulated staff The variable remuneration pool awarded to the CRD IV regulated staff with respect to 2016 was 240.1 M€ and total variable and fixed remuneration amounted to 491.1 M€. This pool leads to a downside of average remuneration, by -12% for the variable component[9] and by -8% in terms of total fixed and variable remuneration, at constant exchange rate, as compared to average remuneration of 2015 CRD IV regulated staff. This is due to the broadening of this population, due to inclusion of staff with lower average levels of remuneration, and to the decrease of the variable remuneration awarded to CRD IV regulated staff within Global Banking and Investor Solutions, accounting for the major part of the scope. For all Group employees, awarding a guaranteed variable remuneration in the context of hiring a new employee is: Discretionary payments (i.e. payments in excess of severance payments set by law or a collective bargaining agreement due under the binding provisions of labour law), linked to the early termination of an employment contract, are not under any circumstances set contractually in advance (e.g. golden parachutes are strictly forbidden). They are determined at the time the employee leaves the Bank, by taking into account the beneficiary's performances, assessed in the light of the collective performances of the activity the employee belongs to as well as the performances of the Group as a whole. The remuneration of the Chief Executive Officers complies with the CRD IV and its transposition in France. It also respects the recommendations made by the AFEP-MEDEF Corporate Governance Code. Accordingly, the Board of Directors defines the remuneration of the Chief Executive Officers, on a proposal of the Compensation Committee (cf. 1.1. above). The remuneration policy applied to the Chief Executive Officers is detailed in Chapter 3 of the 2016 Registration Document on the Corporate governance. PART 4. INFORMATION ABOUT REMUNERATION FOR FINANCIAL YEAR 2016 4.1 The regulated population (individuals whose professional activities have a material impact on the risk profile of the company) excluding Chief Executive Officers (1) Payable in several instalments between March 2017 and October 2022 (2) During the retention period, remaining subject to the potential application of the individual and collective forfeiture condition The amount of outstanding deferred remuneration corresponds this year to the outstanding deferred variable remuneration awarded with respect to 2016, 2015, 2014, 2013, 2011 and 2010. All outstanding deferred variable remuneration is exposed to possible explicit adjustments (performance conditions and clause concerning appropriate management of risks and compliance) and/or implicit adjustments (indexation on share price). (1) The highest individual severance payment made during 2016 was 1,95 M€. Chief Executive Officers in the financial year 2016 were Messrs Bini Smaghi, Oudéa, Cabannes and Sanchez Incera. The remuneration of Chief Executive Officers was subject to a specific disclosure following the Board of Directors meeting held on 8th February 2017 that approved the variable remuneration awards for 2016. The amount of outstanding deferred remuneration corresponds this year to the outstanding deferred variable remuneration awarded with respect to 2015, 2014 and 2013. Sign-on and severance payments made during the financial year: Number of regulated staff (including Chief Executive Officers) whose global remuneration granted for 2016 is equal to or above 1 M€ Among the 100 beneficiaries of global remuneration equal to or above 1 M€, 58 are located outside France and 42 in France. [1] All reference in this report to compliance includes the notion of reputational risk. [3] The « material business units » as defined by the EBA regulatory standards are the activities (subsidiaries, businesses) within the Group which represent at least 2% of the Group's internal capital. [4] Return on Normative Equity = Return on Equity of a Core business or activity, based on normative capital [6] Essentially within MARK and GLFI business lines for 2016 [7] As for the preceding year, the instalments of non-vested variable remuneration awarded in instruments will be attributed to French tax residents in the form of Société Générale shares, instead of equivalent shares as attributed before, as approved by Société Générale shareholders at the General Meeting  on 18 May 2016. [8] Except for a few members of these committees located in specific geographies who have to comply with local constraints


VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 1, 2017) - West Kirkland Mining Inc. (TSX VENTURE:WKM)(OTCQB:WKLDF) ("West Kirkland" or the "Company") today announces that a Limited Liability Corporation Agreement (the "LLC Agreement") governing the Hasbrouck Gold Project (the "Hasbrouck Project"), located near Tonopah, Nevada has been executed between the Company and Clover Nevada LLC, a Nevada limited liability company and 100% subsidiary of Waterton Precious Metals Fund II Cayman, LP ("Waterton"), who acquired a 25% interest in the Hasbrouck Project in 2015. West Kirkland owns a 75% interest and is the operator of the Hasbrouck Project. The LLC Agreement formally ratifies the relationship between the two owners. Under the terms of the LLC agreement Waterton is required to fund their 25% share of expenditures on the Hasbrouck Project incurred subsequent to September 1, 2016. Waterton has indicated their intention to fund their 25% share of expenditures. However, should Waterton choose not to fund their share of expenditures, their interest will be diluted according to a prescribed formula in the LLC agreement. The Hasbrouck Gold Project has received all the permits to construct and operate the first phase of the open pit, heap leach gold recovery operation at the Three Hills pit. Work continues on the permitting for the second phase of the project at the larger Hasbrouck pit. A 2015 Pre-Feasibility Study estimated open pit reserves for the Hasbrouck Project. The mineral resource and reserve estimate was prepared in conformance with NI 43-101 by Mine Development Associates ("MDA"). Proven and Probable reserves (based on 100% of the project) total 45.3 million tons containing 762,000 ounces gold and 10.6 million ounces silver as detailed below: Hasbrouck Gold Project consists of two all-oxide gold-silver deposits eight kilometers apart. Both deposits will be mined in open pits having low stripping ratios and minimal pre-stripping should the project proceed to production. West Kirkland's independent consultants, MDA, produced an updated Pre-feasibility Study in September 2016 which is available on SEDAR and at www.wkmining.com. All necessary permits to construct and operate the Three Hills Mine are in hand, and work to obtain permits for the Hasbrouck Mine is ongoing, with submission of a Plan of Operation to the Bureau of Land Management (BLM) targeted for Q4, 2017. R. Michael Jones, P.Eng, CEO for West Kirkland Mining is a non-independent Qualified Person as defined by NI 43-101. He has reviewed the information contained in this news release and has verified the data by hiring qualified geologists and engineers and has completed a review of the detailed technical information. Mineral reserve information in this news release has been developed and approved by Thomas L. Dyer, P.E., of MDA following CIM standards. West Kirkland Mining utilizes a well-documented system of inserting blanks and standards into the assay stream and has a strict chain of custody. Assays are completed at independent laboratories which have internal quality assurance and quality control systems and procedures. Assays were performed by ALS Chemex Labs Ltd., by fire assay and ICP methods. West Kirkland owns a 75% interest in the Hasbrouck Gold Project in Tonopah, Nevada. A Pre-feasibility Study with construction-level drawings and all federal and state permits for the phase-one Three Hills Mine provides a ready-to-construct project. Drilling for potential expansion is underway. West Kirkland also holds a 60% interest in the open pit heap-leach TUG Gold Project in Utah in joint venture with Newmont. On behalf of West Kirkland Mining Inc. For further information, please see the Company's website at www.wkmining.com or contact us by email at info@wkmining.com. This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. Forward-looking information in this news release includes, without limitation, the completion of the Prefeasibility Study, the project approach of the Prefeasibility Study and exploration and all information under the heading "Prefeasibility Study Detail", including the Prefeasibility Study budget. Although West Kirkland believes that such timing and expenses as set out in this press release are reasonable, it can give no assurance that such expectations and estimates will prove to be correct. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the market for gold or other minerals that may be produced generally, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's ability to obtain any necessary permits, consents or authorizations required for its activities, to raise the necessary capital or to be fully able to implement its business strategies and other risks associated with the exploration and development of mineral properties. The reader is referred to the Company's public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company's profile on SEDAR at www.sedar.com. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


LONDON, UK / ACCESSWIRE / April 17, 2017 / Active Wall St. announces the list of stocks for today's research reports. Pre-market the Active Wall St. team provides the technical coverage impacting selected stocks trading on the Toronto Exchange and belonging under the Application Software industry. Companies recently under review include MacDonald Dettwiler and Associates, Absolute Software, Descartes Systems Group, and GoldMoney. Get all of our free research reports by signing up at: http://www.activewallst.com/register/. On Thursday, April 13, 2017, at the end of trading session, the Toronto Exchange Composite index ended the day at 15,535.48, 0.72% lower, with a total volume of 317,745,895 shares. Additionally, the Technology index was slightly down by 0.57%, ending the session at 59.73. Active Wall St. has initiated research reports on the following equities: MacDonald Dettwiler and Associates Ltd. (TSX: MDA), Absolute Software Corporation (TSX: ABT), The Descartes Systems Group Inc. (TSX: DSG), and GoldMoney Inc. (TSX: XAU). Register with us now for your free membership and research reports at: http://www.activewallst.com/register/. Vancouver, Canada-based MacDonald, Dettwiler and Associates Ltd's stock edged 0.04% higher, to finish Thursday's session at $69.14 with a total volume of 135,751 shares traded. Over the last one month and the previous three months, MacDonald, Dettwiler and Associates' shares have advanced 3.66% and 0.01%, respectively. The Company's shares are trading above its 50-day moving average. MacDonald, Dettwiler and Associates' 200-day moving average of $70.89 is above its 50-day moving average of $67.63. Shares of the Company, which provides operational solutions to commercial and government organizations worldwide, are trading at a PE ratio of 18.51. See our research report on MDA.TO at: http://www.activewallst.com/register/. On Thursday, shares in Vancouver, Canada headquartered Absolute Software Corp. recorded a trading volume of 18,526 shares. The stock ended the day 0.54% higher at $7.44. Absolute Software's stock has advanced 0.54% in the last one month and 11.71% in the previous three months. Furthermore, the stock has gained 10.06% in the past one year. Shares of the Company, which develops, markets, and supports endpoint security and data risk management, and endpoint management solutions for desktops, laptops, tablets and smartphones in Canada, the US, and internationally, are trading above its 50-day and 200-day moving averages. The stock's 50-day moving average of $7.40 is above its 200-day moving average of $6.78. The complimentary research report on ABT.TO at: http://www.activewallst.com/register/. On Thursday, shares in Waterloo, Canada headquartered The Descartes Systems Group Inc. ended the session 0.23% lower at $29.83 with a total volume of 43,439 shares traded. Descartes Systems' shares have gained 4.59% in the last three months and 16.43% in the previous one year. The stock is trading above its 200-day moving average. Furthermore, the stock's 50-day moving average of $30.02 is greater than its 200-day moving average of $28.85. Shares of Descartes Systems, which provides federated network and logistics technology solutions worldwide, are trading at a PE ratio of 96.23. Register for free and access the latest research report on DSG.TO at: http://www.activewallst.com/register/. Toronto, Canada headquartered GoldMoney Inc.'s stock closed the day 0.61% lower at $3.25. The stock recorded a trading volume of 6,430 shares. Shares of the Company, which operates gold- based financial service platforms, are trading below their 50-day and 200-day moving averages. Moreover, the stock's 200-day moving average of $3.57 is greater than its 50-day moving average of $3.28. Get free access to your research report on XAU.TO at: http://www.activewallst.com/register/. Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below. AWS has not been compensated; directly or indirectly; for producing or publishing this document. 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AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way. AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice. This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/. For any questions, inquiries, or comments reach out to us directly. 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News Article | May 2, 2017
Site: www.accesswire.com

VANCOUVER, BC / ACCESSWIRE / May 2, 2017 / DIGATRADE FINANCIAL CORP. (OTCQB: DIGAF), a digital asset exchange platform, blockchain development services and distributed ledger technology company, today announced the filing of the Dec 31, 2016 audited annual financial statements, MDA and Form 20-F of Sedar (https://sedar.com) and Edgar (https://sec.gov). The Company is currently developing several new technologies for the Digatrade Core 2.0 Digital Asset Trading Platform (https://digatrade.com), and seeking additional new opportunities and partners for growth as Bitcoin (BTC) continues to increase in value with a market capitalization now exceeding $23.5B and a new all- time trading high of US$1481, as of May 2, 2017. Please email inquiries to [email protected] to receive more details of the new Digatrade OTC Trade Desk service; additional information will be provided as it materializes. DIGATRADE is a global digital asset exchange and blockchain development services company located in Vancouver, British Columbia, Canada. The Company is owned and operated 100% by Digatrade Financial Corp which is publically listed on the OTC.QB under the trading symbol DIGAF. DIGAF is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC." Digatrade operates as a registered Money Service Business "MSB" in Canada with FINTAC under Registration Number: M15954395. This press release contains certain "forward-looking information." All statements, other than statements of historical fact, that address activities, events or development that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the company based on information currently available to the Company. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the possibility of unanticipated costs and expenses. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the company disclaims any intent or obligation to update any forward-looking information whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.


Envision Ventures, Balyasny Asset Management, Geodesic Capital, ITOCHU Corporation and Intellectus Partners Join in Series C to Drive Global Scale MOUNTAIN VIEW, CA--(Marketwired - May 2, 2017) - Orbital Insight, a geospatial analytics and software company, today announced it has closed a $50 million Series C round led by existing investor Sequoia Capital, with participation from new investors Envision Ventures, Balyasny Asset Management, Geodesic Capital, ITOCHU Corporation and Intellectus Partners. Previous investors GV, Lux Capital, and CME Ventures participated in the Series C as well. This latest round brings the four-year-old company's total funding to $78.7 million. This funding firmly positions Orbital Insight in the vanguard of geospatial analytics. With the imminent arrival of daily satellite imagery of the entire planet, the company will provide unprecedented visibility into what we are doing on and to the earth. As the commercial space sector booms, rapid improvements in the frequency and resolution of imagery are allowing Orbital Insight to commercialize new analytic and software tools that let clients follow socio-economic trends that were previously too complex and subtle to unravel. With this new round of funding, Orbital Insight plans to expand its portfolio of analytic products and grow its global strategic partnerships and sales presence in key international markets. The firm will also continue to attract the brightest minds in engineering, data science, design and sales who want to operate at the intersection of new geospatial analysis, artificial intelligence and complex problem solving for leading clients around the world. "We are on the precipice of having daily five-meter imagery of the world, and then daily one-meter imagery within a few years. Until very recently, the standard was weekly 15-meter imagery, with one-meter imagery available much less frequently," said Orbital Insight CEO and founder Dr. James Crawford. "We've only just begun to uncover a handful of signals, but we've already seen the impact they can have on financial, energy and insurance markets, as well as society as a whole. We're looking forward to having an even greater presence as we scale alongside the industry." Since launching in 2015, Orbital Insight has made headlines with its announcements, including: finding more oil stored in China than was previously reported, a partnership with the World Bank to effectively gauge poverty from space, and analysis of retailer parking lot traffic patterns. The company has garnered numerous accolades, including being named a Technology Pioneer by the World Economic Forum in 2016 and the Most Innovative Company in Space by Fast Company in 2017. "The proliferation of affordable drones and satellites is generating unprecedented amounts of geospatial imagery, and Orbital Insight is making that data actionable," said Bill Coughran, partner at Sequoia and Orbital Insight board member. "Just as Google is organizing the world's information, Orbital Insight is interpreting it. We've been impressed with their progress since their Series A and are thrilled to increase our support for one of the leaders in the geospatial software industry." Orbital Insight is the first mover in large-scale analysis of satellite and unmanned aerial vehicle (UAV) imagery. The company partners with leading satellite operators, including Airbus, DigitalGlobe, ImageSat, MDA, Planet and Urthecast, to gain access to vast amounts of imagery. Orbital Insight then applies machine learning and computer vision to these images to count and measure objects like cars, agricultural fields, buildings and more to provide an accurate and near real-time understanding of the world. The company's client list includes leading financial services firms, Global 500 companies, several U.S. government agencies and global non-profit organizations.

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