Month: April 2020

STAMFORD, Conn., April 24, 2020 (GLOBE NEWSWIRE) — Revolution Lighting Technologies, Inc. (OTC: RVLT) (“Revolution Lighting” or the “Company”), a global provider of advanced LED lighting solutions, announced today that a settlement hearing will be held on August 11, 2020 at 11:30 a.m., (or at such other date and time as the Court may direct without further notice) before the Honorable J. Paul Oetken, at the Thurgood Marshall United States Courthouse, 40 Foley Square, New York, New York 10007 in the matter of In Re Revolution Lighting Technologies, Inc. Derivative Action, Case No. 1:19-cv-03913 (the “Settlement Hearing”).The parties have reached an agreement in principle to settle this matter (the “Proposed Settlement”). On April 10, 2020, Judge Oetken granted preliminary approval for the Proposed Settlement and scheduled the Settlement...

SMITHFIELD, N.C., April 24, 2020 (GLOBE NEWSWIRE) — KS Bancorp, Inc. (the “Company”) (OTCBB: KSBI), parent company of KS Bank, Inc. (the “Bank”), announced unaudited results for the first quarter of 2020.The Company reported net income of $922,000, or $0.83 per diluted share, an increase of 12% for the three months ended March 31, 2020, compared to net income of $820,000 or.$0.74 per diluted share, for the three months ended March 31, 2019.Net interest income for the three months ended  March 31, 2020, was $3.5 million as as compared to $3.1 million for the comparable period in 2019. The increase was primarily due  to improvement in net interest margin.  Noninterest income for the three months ended March 31, 2020 was $708,000, compared to $701,000 for the comparable period ended March 31, 2019. Noninterest expense was $3.0 million...

PALOS VERDES ESTATES, Calif., April 24, 2020 (GLOBE NEWSWIRE) — Malaga Financial Corporation (OTCPink:MLGF), the parent company of Malaga Bank FSB, today reported that net income for the quarter ended March 31, 2020 was $4,184,000 ($0.57 basic and fully diluted earnings per share), an increase of $727,000 or 21% from net income of $3,457,000 ($0.47 basic and fully diluted earnings per share) for the quarter ended March 31, 2019. For the first quarter of 2020, the Company’s annualized return on average equity was 11.39% and the annualized return on average assets was 1.34%, as compared to 10.05% and 1.26%, respectively, for the same period in 2019.The Company did not have any delinquent loans or foreclosed real estate owned at March 31, 2020. The Company’s allowance for loan losses was $3,581,000, or 0.31% of total loans, at March...

TORONTO, April 24, 2020 (GLOBE NEWSWIRE) — Shawcor Ltd. (TSX: SCL) announced today that the location of its Annual Meeting of Shareholders has been changed to its offices at 25 Bethridge Road, Toronto. The Meeting, which will be live webcast at www.shawcor.com, will be held at 4:00 p.m. (EDT) on Wednesday, May 13, 2020. In order to mitigate risks arising from the COVID-19 pandemic to the health and safety of Shawcor’s shareholders, employees, communities and other stakeholders, all shareholders and other interested persons should stay home and view the live webcast. In furtherance of risk mitigation and in light of current provincial restrictions limiting gatherings to a maximum of 5 persons, it is very unlikely that persons other than authorized Shawcor personnel will be permitted to attend the Meeting at the Company’s premises.Viewers...

DUNKIRK, N.Y., April 24, 2020 (GLOBE NEWSWIRE) — Lake Shore Bancorp, Inc. (the “Company”) (NASDAQ Global Market: LSBK), the holding company for Lake Shore Savings Bank (the “Bank”), announced unaudited results for the three months ended March 31, 2020. Net income for first quarter 2020 was $731,000, or $0.12 per diluted share, as compared to first quarter 2019 net income of $898,000, or $0.15 per diluted share. First quarter 2020 net income reflected a $425,000 increase in provision for loan losses primarily related to declining economic conditions as a result of the COVID-19 pandemic and a $134,000 decrease in non-interest income which was partially offset by a $358,000 increase in net interest income, a $29,000 decrease in income tax expense and a $5,000 decrease in non-interest expense when compared to the first quarter of 2019.During...

Pompano Beach, Florida, April 24, 2020 (GLOBE NEWSWIRE) — Brownie’s Marine Group, Inc. (OTC Pink: BWMG) a leading developer, manufacturer and distributor in the marine industry announced several business updates on their existing businesses and new opportunities.Impact of COVID-19 On Existing BusinessesLike many consumer-facing companies, BWMG’s core business lines are experiencing significant challenges, as the COVID-19 related economic slow-down impacts consumer spending. The management team of BWMG expects that revenues will be down significantly from internal estimates on various products sold, including those in the boating and recreational diving industry. The company has taken several steps to ensure the long-term viability of operations, including the shift of focus onto developing a ventilator prototype using the company’s...

Eik fasteignafélag hf. mun birta árshlutauppgjör fyrir fyrsta ársfjórðung 2020 eftir lokun markaða miðvikudaginn 29. apríl nk.Rafrænn kynningarfundur verður haldinn fimmtudaginn 30. apríl nk. klukkan 8:30. Garðar Hannes Friðjónsson, forstjóri og Lýður H. Gunnarsson, framkvæmdastjóri fjármálasviðs, munu kynna uppgjörið og svara spurningum að lokinni kynningu.​Tengill á fundinn mun verða sendur út samhliða birtingu árshlutauppgjörsins.

Nexity’s cash position remains very strong, with €762 million in cash and €555 million in confirmed undrawn bank borrowing facilities.As a precautionary measure, and to anticipate the consequences of the health crisis on its EBITDA, Nexity entered into dialogue with its banking partners and announces today it has made adjustments to its main corporate loans facilities. Nexity has secured an exemption from its undertaking to respect its leverage ratio threshold (IFRS net debt excluding project-related debt/EBITDA); this exemption will apply until the approval of the 2021 financial statements. Nexity thanks its banking partners for their support and responsiveness. A similar approach has been initiated with Nexity’s bondholders.DisclaimerThe information, assumptions and estimates that the Company could reasonably use to determine its targets...

Nexity continue de bénéficier d’une situation de trésorerie très solide, avec 762 millions d’euros de cash et 555 millions d’euros de lignes de crédit bancaires confirmées et non tirées.Par mesure de prudence, et en anticipant un impact de la crise sanitaire sur son EBITDA, Nexity a engagé des discussions avec ses partenaires bancaires, et annonce aujourd’hui avoir réaménagé, avec leur accord, ses principaux contrats de financement corporate. Nexity a en particulier obtenu d’être exonéré de son engagement de respecter la limite relative au ratio de levier jusqu’à l’arrêté des comptes de l’exercice 2021. Nexity remercie ses partenaires du pool bancaire et l’ensemble de ses banquiers pour leur soutien et leur réactivité. Une démarche similaire vient d’être engagée auprès des porteurs obligataires Euro PP.AvertissementLes données, hypothèses...

Golden Ocean Group Limited (“Golden Ocean” or the “Company) hereby announces that 550,000 share options have today been granted to Mr Ulrik Andersen in connection with his appointment as CEO of Golden Ocean Management AS. The share options will have a five-year term expiring April 6, 2025, and will vest equally one third over a three-year vesting period.150,000 of the share options will vest on April 6, 2021 with an exercise price of NOK 35.- each 150,000 of the share options will vest on April 6, 2022 with an exercise price of NOK 52.50 each 250,000 of the share options will vest on April 6, 2023, with an exercise price of NOK 70.- eachThe exercise price will be adjusted for any distribution of dividends made before the relevant options are exercised.April 24, 2020The Board of DirectorsGolden Ocean Group Ltd.Hamilton, BermudFor further...