Latest news with #DPG
Yahoo
2 days ago
- Business
- Yahoo
Duff & Phelps Utility and Infrastructure Fund Inc. Redeems Remaining Floating Rate Mandatory Redeemable Preferred Shares, Series C and Issues Floating Rate Mandatory Redeemable Preferred Shares, Series D
CHICAGO, May 30, 2025--(BUSINESS WIRE)--Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE: DPG), a closed-end investment management company advised by Duff & Phelps Investment Management Co. ("Duff & Phelps"), today exercised an option to voluntarily redeem ("Redemption Date") its remaining 1,400,000 issued and outstanding Floating Rate Mandatory Redeemable Preferred Shares, Series C (the "Series C MRP Shares") (CUSIP No. 26433C4#9). The Series C MRP Shares were redeemed at the liquidation preference of $25.00 per share and accumulated but unpaid dividends and distributions up to, but excluding, the Redemption Date. The redemption of the Series C MRP Shares is being funded by DPG's issuance of 1,000,000 Floating Rate Mandatory Redeemable Preferred Shares, Series D (the "Series D MRP Shares") and borrowing $10 million under the Fund's existing credit facility with a major commercial bank. The issuance of Series D MRP Shares and additional borrowing under the credit facility occurred on May 29, 2025. The 1,000,000 Series D MRP Shares were issued at a liquidation value of $25.00 per share, par value of $0.001 per share, with a maturity date of May 29, 2030. The Series D MRP Shares have a floating rate based on the three-month secured overnight financing rate (SOFR) plus 2.00% and will pay dividends on a quarterly basis. Duff & Phelps believes this capital restructuring is prudent management of DPG's borrowings to facilitate its use of leverage. About the Fund Duff & Phelps Utility and Infrastructure Fund Inc. is a closed-end investment management company whose investment objective is to seek total return, resulting primarily from (i) a high level of current income, with an emphasis on providing tax-advantaged dividend income and (ii) growth in current income, and secondarily from capital appreciation. The Fund seeks to achieve these objectives by investing primarily in equities of domestic and foreign utilities and infrastructure providers. Under normal market conditions, the Fund will invest at least 80% of its total assets in dividend-paying equity securities of companies in the utility industry and the infrastructure industry. The utility industry is defined to include the following sectors: electric, gas, water, telecommunications, and midstream energy. The infrastructure industry is defined as companies owning or operating essential transportation assets, such as toll roads, bridges, tunnels, airports, seaports, and railroads. For more information, contact shareholder services at (866) 270-7598, by email at duff@ or visit the DPG website, About the Investment Adviser Duff & Phelps Investment Management Co. is a boutique investment manager that specializes in listed real asset strategies for institutional and individual clients. An investment manager of Virtus Investment Partners, Inc. (NYSE: VRTS), the firm began in 1932 as a fundamental research firm and has been managing assets since 1979. The firm seeks to provide specialty investment strategies that enhance client outcomes through active portfolio management and customized solutions, utilizing a process with values that include quality, reliability, and specialization. Investment strategies include U.S. and global real estate securities, global listed infrastructure, energy infrastructure, water, and clean energy. For more information visit View source version on Contacts Shareholder Services(866) 270-7598duff@
Business Wire
2 days ago
- Business
- Business Wire
Duff & Phelps Utility and Infrastructure Fund Inc. Redeems Remaining Floating Rate Mandatory Redeemable Preferred Shares, Series C and Issues Floating Rate Mandatory Redeemable Preferred Shares, Series D
CHICAGO--(BUSINESS WIRE)-- Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE: DPG), a closed-end investment management company advised by Duff & Phelps Investment Management Co. ('Duff & Phelps'), today exercised an option to voluntarily redeem ('Redemption Date') its remaining 1,400,000 issued and outstanding Floating Rate Mandatory Redeemable Preferred Shares, Series C (the 'Series C MRP Shares') (CUSIP No. 26433C4#9). The Series C MRP Shares were redeemed at the liquidation preference of $25.00 per share and accumulated but unpaid dividends and distributions up to, but excluding, the Redemption Date. The redemption of the Series C MRP Shares is being funded by DPG's issuance of 1,000,000 Floating Rate Mandatory Redeemable Preferred Shares, Series D (the 'Series D MRP Shares') and borrowing $10 million under the Fund's existing credit facility with a major commercial bank. The issuance of Series D MRP Shares and additional borrowing under the credit facility occurred on May 29, 2025. The 1,000,000 Series D MRP Shares were issued at a liquidation value of $25.00 per share, par value of $0.001 per share, with a maturity date of May 29, 2030. The Series D MRP Shares have a floating rate based on the three-month secured overnight financing rate (SOFR) plus 2.00% and will pay dividends on a quarterly basis. Duff & Phelps believes this capital restructuring is prudent management of DPG's borrowings to facilitate its use of leverage. About the Fund Duff & Phelps Utility and Infrastructure Fund Inc. is a closed-end investment management company whose investment objective is to seek total return, resulting primarily from (i) a high level of current income, with an emphasis on providing tax-advantaged dividend income and (ii) growth in current income, and secondarily from capital appreciation. The Fund seeks to achieve these objectives by investing primarily in equities of domestic and foreign utilities and infrastructure providers. Under normal market conditions, the Fund will invest at least 80% of its total assets in dividend-paying equity securities of companies in the utility industry and the infrastructure industry. The utility industry is defined to include the following sectors: electric, gas, water, telecommunications, and midstream energy. The infrastructure industry is defined as companies owning or operating essential transportation assets, such as toll roads, bridges, tunnels, airports, seaports, and railroads. For more information, contact shareholder services at (866) 270-7598, by email at duff@ or visit the DPG website, About the Investment Adviser Duff & Phelps Investment Management Co. is a boutique investment manager that specializes in listed real asset strategies for institutional and individual clients. An investment manager of Virtus Investment Partners, Inc. (NYSE: VRTS), the firm began in 1932 as a fundamental research firm and has been managing assets since 1979. The firm seeks to provide specialty investment strategies that enhance client outcomes through active portfolio management and customized solutions, utilizing a process with values that include quality, reliability, and specialization. Investment strategies include U.S. and global real estate securities, global listed infrastructure, energy infrastructure, water, and clean energy. For more information visit
Cision Canada
3 days ago
- Health
- Cision Canada
A joint study by Duchesnay and PeriPharm exposes critical gaps in access to innovative women's health products in Canada
The research reveals the challenges of introducing innovative medications in women's health in Canada BLAINVILLE, QC, May 29, 2025 /CNW/ - Duchesnay, member of Duchesnay Pharmaceutical Group (DPG), winner of the 2024 Life Sciences Innovation Award by ADRIQ, in collaboration with PeriPharm, is proud to announce the results of a landmark study exploring the accessibility of innovative women's health products in Canada. The research exposes systemic gaps and significant barriers that prevent Canadian women from accessing the innovative therapies they need. The study found that of the 45 women's health products approved by the U.S. Food and Drug Administration (FDA) from January 1, 2003, to December 31, 2023, only 24 (53%) had received regulatory approval by Health Canada as of July 2024 and only 13 of these products are currently reimbursed publicly. 1 "These findings highlight a clear need to address inequities in how women's health is assessed, valued and prioritized," said Dany Hallé, Vice president, Commercial Affairs, DPG. "Striving to shape women's health ecosystem in Canada, we, at Duchesnay, believe that Canadian women deserve to have timely access to healthcare innovations." Another important issue highlighted by researchers is the delays Canadian women face when it comes to approval and reimbursement processes for women's health therapies. Compared to the general access timeline for medications in Canada, the process for obtaining public coverage listing for women's health medications takes one year longer and can even exceed three years. The study suggests that the current evidence-based Health Technology Assessment (HTA) framework may not fully capture the added value of innovative drugs in women's health, potentially contributing to delays or barriers in reimbursement and market access. "This is a call to action," said Catherine Beauchemin, Ph.D., partner at PeriPharm. "This initiative marks an important first step toward improving access to innovations in women's health. To advance women's health outcomes in Canada, we must start by understanding their needs and preferences." This study will serve as a benchmark and lay the groundwork for the development of a position paper co-written by leading experts in the domain addressing the challenges women ultimately face in the assessment of innovative medicines in Canada. This white paper would be hopefully available by year end. 1 In comparison, based on data between 2016 and 2020, 67% of all new active substance approval by FDA and/or EMA have been submitted to Health Canada. ABOUT PERIPHARM Founded in 2003, PeriPharm is a Canadian company specializing in pharmacoeconomics and outcomes research. The company's mission is to provide high-quality, diversified services to ensure optimal market access of health care innovations. PeriPharm's activity is built on the belief the best available therapies should be accessible to those who need it. As a leader in the field of health economics and data generation, PeriPharm has contributed to the success of several market access initiatives. For more information about PeriPharm, please visit Follow us on LinkedIn. ABOUT DUCHESNAY Duchesnay is a specialty pharmaceutical company with a long-standing commitment to women's health. Until recently, the company focused on filling the void in terms of scientific research and education and on developing pharmacological solutions that are safe and effective for use during pregnancy and breastfeeding. Today, Duchesnay has broadened its portfolio of products to offer safe and effective therapeutic options that meet the health and quality of life needs of women and their family members at different stages of their lives. Believing that women around the world deserve to have access to specialized treatments for their conditions, Duchesnay now distributes its products internationally. For more information about Duchesnay, please visit Follow us on LinkedIn. ABOUT DUCHESNAY PHARMACEUTICAL GROUP Duchesnay Pharmaceutical Group (DPG), with its affiliated companies, is headquartered in Blainville, Quebec. The Group consists of six pharmaceutical companies to meet the needs of patients in Canada, the U.S. and abroad. The companies are Duchesnay (Canada) and Duchesnay USA, both dedicated to women's health; Medunik Canada and Medunik USA, which provide treatments for rare and debilitating diseases; and Analog Pharma Canada and Analog Pharma, specializing in orphan generic medications. From its state-of-the-art manufacturing plant, DPG exports its innovative treatments to more than 50 countries. DPG is one of the eight companies across the country chosen to participate in the Government of Canada's Global Hypergrowth Project. This appointment offers exclusive and personalized support for at least two years, in order to accelerate its growth to become an anchor firm in the Canadian economy. DPG is the winner of the 2024 Life Sciences Innovation Award by ADRIQ, the Association for the Development of Research and Innovation of Quebec, which recognizes DPG's healthy workplace culture and commitment to pharmaceutical innovation, while DPG president Éric Gervais is the recipient of the 2024 Bernard-Landry Award by ADRIQ which acknowledges his impactful leadership on Quebec's research and innovation ecosystem. DPG, through its proprietary research and development, and through exclusive partnerships, offers innovative treatments for a variety of medical conditions in women's health, urology, oncology and for rare diseases, plus lower-cost generic medications. DPG recognizes the dedication and professionalism of its employees and promotes a positive culture and flexible work environment. It is deeply committed to environmental responsibility and to giving back to the community through the support of various charitable organizations.
Associated Press
3 days ago
- Business
- Associated Press
A joint study by Duchesnay and PeriPharm exposes critical gaps in access to innovative women's health products in Canada
The research reveals the challenges of introducing innovative medications in women's health in Canada BLAINVILLE, QC, May 29, 2025 /PRNewswire/ - Duchesnay, member of Duchesnay Pharmaceutical Group (DPG), winner of the 2024 Life Sciences Innovation Award by ADRIQ, in collaboration with PeriPharm, is proud to announce the results of a landmark study exploring the accessibility of innovative women's health products in Canada. The research exposes systemic gaps and significant barriers that prevent Canadian women from accessing the innovative therapies they need. The study found that of the 45 women's health products approved by the U.S. Food and Drug Administration (FDA) from January 1, 2003, to December 31, 2023, only 24 (53%) had received regulatory approval by Health Canada as of July 2024 and only 13 of these products are currently reimbursed publicly.1 'These findings highlight a clear need to address inequities in how women's health is assessed, valued and prioritized,' said Dany Hallé, Vice president, Commercial Affairs, DPG. 'Striving to shape women's health ecosystem in Canada, we, at Duchesnay, believe that Canadian women deserve to have timely access to healthcare innovations.' Another important issue highlighted by researchers is the delays Canadian women face when it comes to approval and reimbursement processes for women's health therapies. Compared to the general access timeline for medications in Canada, the process for obtaining public coverage listing for women's health medications takes one year longer and can even exceed three years. The study suggests that the current evidence-based Health Technology Assessment (HTA) framework may not fully capture the added value of innovative drugs in women's health, potentially contributing to delays or barriers in reimbursement and market access. 'This is a call to action,' said Catherine Beauchemin, Ph.D., partner at PeriPharm. 'This initiative marks an important first step toward improving access to innovations in women's health. To advance women's health outcomes in Canada, we must start by understanding their needs and preferences.' This study will serve as a benchmark and lay the groundwork for the development of a position paper co-written by leading experts in the domain addressing the challenges women ultimately face in the assessment of innovative medicines in Canada. This white paper would be hopefully available by year end. ABOUT PERIPHARM Founded in 2003, PeriPharm is a Canadian company specializing in pharmacoeconomics and outcomes research. The company's mission is to provide high-quality, diversified services to ensure optimal market access of health care innovations. PeriPharm's activity is built on the belief the best available therapies should be accessible to those who need it. As a leader in the field of health economics and data generation, PeriPharm has contributed to the success of several market access initiatives. For more information about PeriPharm, please visit . Follow us on LinkedIn. ABOUT DUCHESNAY Duchesnay is a specialty pharmaceutical company with a long-standing commitment to women's health. Until recently, the company focused on filling the void in terms of scientific research and education and on developing pharmacological solutions that are safe and effective for use during pregnancy and breastfeeding. Today, Duchesnay has broadened its portfolio of products to offer safe and effective therapeutic options that meet the health and quality of life needs of women and their family members at different stages of their lives. Believing that women around the world deserve to have access to specialized treatments for their conditions, Duchesnay now distributes its products internationally. For more information about Duchesnay, please visit . Follow us on LinkedIn. ABOUT DUCHESNAY PHARMACEUTICAL GROUP Duchesnay Pharmaceutical Group (DPG), with its affiliated companies, is headquartered in Blainville, Quebec. The Group consists of six pharmaceutical companies to meet the needs of patients in Canada, the U.S. and abroad. The companies are Duchesnay (Canada) and Duchesnay USA, both dedicated to women's health; Medunik Canada and Medunik USA, which provide treatments for rare and debilitating diseases; and Analog Pharma Canada and Analog Pharma, specializing in orphan generic medications. From its state-of-the-art manufacturing plant, DPG exports its innovative treatments to more than 50 countries. DPG is one of the eight companies across the country chosen to participate in the Government of Canada's Global Hypergrowth Project. This appointment offers exclusive and personalized support for at least two years, in order to accelerate its growth to become an anchor firm in the Canadian economy. DPG is the winner of the 2024 Life Sciences Innovation Award by ADRIQ, the Association for the Development of Research and Innovation of Quebec, which recognizes DPG's healthy workplace culture and commitment to pharmaceutical innovation, while DPG president Éric Gervais is the recipient of the 2024 Bernard-Landry Award by ADRIQ which acknowledges his impactful leadership on Quebec's research and innovation ecosystem. DPG, through its proprietary research and development, and through exclusive partnerships, offers innovative treatments for a variety of medical conditions in women's health, urology, oncology and for rare diseases, plus lower-cost generic medications. DPG recognizes the dedication and professionalism of its employees and promotes a positive culture and flexible work environment. It is deeply committed to environmental responsibility and to giving back to the community through the support of various charitable organizations. For more information, please visit Follow us on LinkedIn. View original content to download multimedia: SOURCE Duchesnay inc.
The Guardian
24-04-2025
- Politics
- The Guardian
Trevor Lock obituary
The dramatic ending to the Iranian embassy siege in Kensington, central London, is celebrated as a feat of SAS heroism. During the six day long ordeal, the captive PC Trevor Lock also demonstrated extraordinary levels of coolness and ingenuity. Lock, who has died aged 85, was the officer on duty on 30 April 1980 when six Iraqi-backed gunmen demanding autonomy for the oil-rich Khuzestan province squeezed off a burst of automatic fire and forced their way into the building. Newly attached to the Diplomatic Protection Group (DPG), he had just accepted an offer from the embassy concierge of a cup of coffee indoors on a gloomy day. Had the stocky, 6ft 2in constable been at his post and drawn his pistol, he would probably have been shot dead. The gunfire and Lock's quick thinking in triggering an emergency alarm on his radio summoned police reinforcements, initiating a standoff that was broadcast live to the world. Twenty-six Iranian officials and visitors – including two BBC journalists applying for visas – were held hostage. Five were released, but threats to execute diplomats intensified. Despite being cut by flying glass and frisked, Lock managed to keep his Smith & Wesson .38-calibre revolver hidden. He refused opportunities to eat, fearing that if he was escorted to the toilet the gun would be spotted. 'It was an heroic feat of self-constipation,' according to Ben Macintyre, whose account, The Siege, was published last year. Eventually Lock agreed to go for a wash. Although under observation, he nonetheless managed to keep the weapon concealed. He reasoned, however, that if he started shooting he would not be able to overpower the kidnappers, who were carrying grenades and machine guns. Instead he gained their trust while calming the petrified hostages. Leaning out of the embassy window, Lock performed the role of intermediary between the gunmen and security forces who surrounded the building. He stayed awake while others slept, telling jokes to relieve the tension. When the terrorists became suspicious of sounds coming through the wall from the Ethiopian embassy next door – holes were being drilled for listening microphones – Lock laughed the noises off, suggesting it was mice running through the old building. He helped hold back one frenzied hostage who tried to tackle a gunman and proposed driving the kidnappers to the airport if they were allowed to leave. He was unable, however, to protect the embassy press attache, Abbas Lavasani, a fervent supporter of Ayatollah Khomeini, who was tied to the bannister and shot. His body was pushed out of the front door. The killing prompted the decision, on 5 May, to begin the SAS assault. When Lock realised the embassy was being stormed he rugby-tackled the leading gunman, Towfiq al-Rashidi, pulled out his revolver and held it to the astonished kidnapper's head. He later said he thought about shooting but decided it was not in his training to kill out of anger. As gas canisters and stun grenades exploded around them, SAS troopers entered the room, told Lock to move aside and fired a burst of machine-gun fire into Rashidi's body. Five of the six hostage-takers were killed. Lock's restraint and his self-declared preference for the policing style represented in the television series Dixon of Dock Green was subsequently contrasted with the aggression of the SAS. Born in Gants Hill, Ilford, then part of Essex, Lock attended school locally. During national service in the army he was sent to the Libyan capital, Tripoli, where he picked up several Arabic swear words. (Debates about them later provided useful distractions during the long hours of the embassy siege.) Lock worked at the Ford factory in Dagenham before joining the police in 1965. He served as a beat constable at Barking until early 1980, when he applied to join the DPG, the specialist unit responsible for guarding embassies in London. His first wife had died in 1971. He subsequently married Doreen Easton, a nurse and former policewoman. They had six children between them: three each from previous relationships. Lock had been due to take her to the theatre as a surprise treat on the night he was taken hostage. After the siege ended, Lock was praised for his bravery and composure. He was awarded the George Medal for his 'outstanding courage, sustained bravery, calmness and devotion to duty' as well as the Freedom of the City of London. The Metropolitan commissioner, Sir David McNee, described him as the embodiment of courage. Lock, however, never thought of himself as a hero. He suggested most police officers would have behaved similarly and felt guilty for not having saved Lavasani. He admitted to suffering post-traumatic stress and needing psychiatric help. 'I hate Bonfire Night because of the bangs,' he told one interviewer. 'I hide under the table with the dog.' He was anxious about rejoining the DPG and became an observer on police helicopter patrols before transferring to the M11 motorway traffic control unit. He donated his George Medal to the police museum after keeping it in his wife's knitting basket for many years. He retired in 1992, but went back to working as a civilian in traffic control because he hated 'having nothing to do'. In later years he enjoyed supporting West Ham and cared for Doreen, who suffered from osteoarthritis. For their work with the Independent Living Agency and contributions to their local community, a plaque was unveiled on their home in the Becontree estate, east London, in 2022. Doreen died last year. He is survived by his children, grandchildren and great-grandchildren. Trevor James Lock, police officer, born 14 April 1939; died 30 March 2025
