Latest news with #Saltire
Scotsman
17 hours ago
- Sport
- Scotsman
More major disappointment for Scottish golfers as US Open field is finalised
MacIntyre will be sole player flying Saltire at Oakmont Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Bob MacIntyre will be the sole Scot in the third major in a row after the battle for spots in next week's 125th US Open at Oakmont drew a blank for players flying the Saltire. MacIntyre secured his fourth appearance in the USGA event through qualifying for the PGA Tour's season-ending Tour Championship in Atlanta last year on the back of his wins in both the RBC Canadian Open and Genesis Scottish Open. Advertisement Hide Ad Advertisement Hide Ad The 28-year-old, who defends the first of those titles this week in Ontario, would also have qualified on the strength of being in the top 60 in the Official World Golf Ranking at a cut off on 19 May. Bob MacIntyre and his caddie, Mike Burrow, pictured during last year's 124th US Open at Pinehurst Resort |As was the case for both The Masters in April and last month's PGA Championship, though, MacIntyre will be the only Scottish player teeing up in one of the game's marquee events. Ryan Lumsden, who is among the current Caledonian contingent on the Hotel Planner Tour, came closest to joining the Oban man in the line up in Pennsylvania. Close call for Ryan Lumsden at Walton Heath After carding rounds of 66-71 for a seven-under-par total, Lumsden got into a play-off in one of the 36-hole Final Qualifiers at Walton Heath only to miss out in a six-way battle for the final three spots and also fail to secure an alternate berth. Advertisement Hide Ad Advertisement Hide Ad Scott Jamieson and Calum Hill were the only other Scottish players to roll the dice in that particular shoot-out on this occasion while amateur duo Calum Scott and Connor Graham both came up short in another one at Bent Tree Country Club in Dallas. The concluding ten Final Qualifiers took place on Monday without a single Scot in any of the fields across the UK and Canada. It means that a trend of a disappointing Scottish presence in the US Open will continue next week, when Bryson DeChambeau defends the trophy after his dramatic victory at Pinehurst last year. The third major of the season takes place next week at Oakmont Country Club in Pennsylvania | Getty Images In 2020, MacIntyre was joined by Connor Syme and Sandy Scott, who was still an amateur at the time, in flying the Saltire at Winged Foot. Advertisement Hide Ad Advertisement Hide Ad MacIntyre and Laird were then in the field at Torrey Pines the following year before Sean Jacklin, Tony's son, was the solitary Scot at Brookline as Matthew Fitzpatrick won there in 2022. It was a Scot-free event at Los Angeles Country Club in 2023 before Grant Forrest came through the qualifier at Walton Heath last year to join MacIntyre at Pinehurst. Rickie Fowler misses out in play-off A day after securing a spot in the 153rd Open at Royal Portrush through the Memorial Tournament on the PGA Tour, former Genesis Scottish Open champion Rickie Fowler narrowly missed out in his bid to be involved in the US Open as well. Along with Max Homa, he suffered disappointment in a five-man play-off for just one spot - it went to 2022 Open runner-up Cameron Young - at Kinsale Golf and Fitness Club in Columbus, Ohio.
Yahoo
12-05-2025
- Business
- Yahoo
Saltire Capital Ltd. Reports Q1 2025 Financial Results
TORONTO, May 12, 2025 /CNW/ - Saltire Capital Ltd. (TSX: SLT.U) (TSX: SLT) (TSX: (TSX: ("Saltire" or the "Company") today reported its unaudited financial results for the three-month period ended March 31, 2025. The Company's unaudited condensed consolidated interim financial statements ("Financial Statements") and management's discussion and analysis ("MD&A") have been filed on the System for Electronic Document Analysis and Retrieval Plus ("SEDAR+") and may be viewed under the Company's profile at All references to "$" herein are to United States Dollars. Q1 2025 Highlights For the three months ended March 31, 2025, the Company reported revenue of $4.3 million, representing an increase of 24.9% compared to revenue of $3.5 million for the three months ended March 31, 2024. The growth in revenue was primarily driven by a 39% increase in cinema-related sales, reflecting robust order volumes from major clients. Non-cinema and special project revenues also contributed positively, increasing by 16% quarter-over-quarter, supported by immersive content deliveries. Gross profit for the quarter was $1.8 million, compared to $1.4 million in the prior year period, representing a 31.3% increase. The increase was attributable to improved production floor efficiencies, favorable procurement, and a higher proportion of premium-margin products, such as IMAX® certified screens*. Margin improvement also benefited from better absorption of fixed manufacturing costs as volumes increased. Operating income for Q1 2025 was $0.6 million, compared to $0.7 million for Q1 2024. The slight decline was primarily due to higher general and administrative expenses, including payroll, legal, and compliance costs, following the Company's transition as an operating public company after the Qualifying Acquisition (as defined below) in 2024. Net income for the quarter was $10.3 million, compared to $0.6 million for the prior year period. The significant increase was mainly driven by a gain of $10.1 million related to the fair value remeasurement of warrant liabilities, which are non-cash in nature. Earnings before interest, taxes, depreciation and amortization ("EBITDA") for Q1 2025 was $10.8 million, compared to $1.0 million in Q1 2024, with the increase similarly driven by the warrant valuation gain. Adjusted EBITDA, which excludes the fair value remeasurement of warrants and other non-operating items, was $0.7 million, compared to $1.0 million in Q1 2024. The decline in Adjusted EBITDA reflects increased operating expenses as a reporting issuer, partially offset by stronger sales and improved gross margins. "EBITDA" and "Adjusted EBITDA" are non-IFRS measures. See "Non-IFRS Measures" below. "MDI's performance this quarter reflects the operational strength and market position we envisioned when acquiring the business", said Andrew Clark, CEO of Saltire. "The company continues to benefit from strong demand in premium cinema formats and immersive entertainment, while also improving manufacturing efficiency. With a robust sales pipeline heading into the second quarter, we remain confident in MDI's trajectory and are focused on long-term value creation for Saltire shareholders." *IMAX® is a registered trademark of IMAX Corporation. Non-IFRS Measures EBITDA and Adjusted EBITDA are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement the IFRS measures disclosed in the Financial Statements by providing further understanding of Saltire's results of operations from management's perspective. Accordingly, these measures should neither be considered in isolation nor as a substitute for analysis of the Company's financial information reported under IFRS. EBITDA and Adjusted EBITDA are used to provide shareholders with supplemental measures of the Company's operating performance and thus highlight trends in the Company's business that may not otherwise be apparent when relying solely on IFRS measures. Securities regulations require non-IFRS measures to be clearly defined and reconciled with their most directly comparable IFRS measure. Management believes that EBITDA and Adjusted EBITDA are useful measures to assess the performance of the Company as they provide more meaningful operating results by excluding the effects of items that are not reflective of underlying business performance and other one-time or non-recurring items. The following table provides the reconciliation of net income to EBITDA and Adjusted EBITDA for the three-month periods ended March 31, 2025 and 2024: (in millions) Q1 2025 Q1 2024 Net Income $10.26 $0.60 Interest Expense $0.17 $0.13 Income Tax Expense $0.25 $0.16 Depreciation & Amortization $0.12 $0.13 EBITDA $10.80 $1.03 Fair Value Gain on Warrants $(10.11) – Stock-Based Compensation $0.05 $0.01 Adjusted EBITDA $0.74 $1.04 Qualifying Acquisition and Private Placement As previously announced and reported, Saltire completed the acquisition of Strong/MDI Screen Systems, Inc. ("MDI") on September 25, 2024 (the "MDI Acquisition"). The MDI Acquisition, together with the establishment of Saltire's investment platform, constituted Saltire's qualifying acquisition (the "Qualifying Acquisition"). As consideration for the MDI Acquisition, Saltire issued to Strong Global Entertainment Inc., MDI's parent company, 1,972,723 common shares ("Common Shares") valued at $10.00 per share, 900,000 Series A preferred shares (with an initial redemption value of $9 million), and approximately $0.8 million in cash (collectively, the "Acquisition Consideration"). Concurrent with the acquisition, Saltire completed a private placement offering of 433,559 Common Shares at $10.00 per share, raising gross proceeds of approximately $4.3 million (the "Private Placement"). In accordance with IFRS® Accounting Standards, the Qualifying Acquisition was accounted for as a reverse takeover ("RTO"), whereby MDI is deemed the accounting acquirer and Saltire the accounting acquiree. As MDI was deemed to be the acquirer for accounting purposes, its assets, liabilities and operations since incorporation are included in the Financial Statements at their historical carrying values. Saltire's standalone results of operations have been included from the acquisition date of September 25, 2024. About Saltire Saltire is a long-term capital partner that allocates capital to equity, debt and/or hybrid securities of high-quality private companies. Investments made by Saltire consist of meaningful and influential stakes in carefully selected private companies that the management believes are under-valued businesses with high barriers to entry, predictable revenue streams and cash flows and defensive characteristics, with a view to significantly improve the fundamental value over the long-term. Although Saltire primarily allocates capital to private companies, Saltire may, in certain circumstances if the opportunity arises, also pursue opportunities with orphaned or value-challenged small and micro-cap public companies. Saltire provides investors with access to private and control-level investments typically reserved for larger players, while maintaining liquidity. Forward Looking Information Certain statements in this press release are prospective in nature and constitute forward-looking information and/or forward-looking statements within the meaning of applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements include, but are not limited to, statements concerning Saltire's initiatives and the impact of same on shareholder value, as well as other statements with respect to management's beliefs, plans, estimates and intentions, and similar statements concerning anticipated future events, results, outlook, circumstances, performance or expectations that are not historical facts. Forward-looking statements generally, but not always, can be identified by the use of forward-looking terminology such as "outlook", "objective", "may", "could", "would", "will", "expect", "intend", "estimate", "forecasts", "seek", "anticipate", "believes", "should", "plans" or "continue" or similar expressions suggesting future outcomes or events and the negative of any of these terms. Forward-looking statements reflect management's current beliefs, expectations and assumptions and are based on information currently available to management. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve known and unknown risks and uncertainties and other factors that could cause actual results to differ materially from those contemplated by such statements. Factors that could cause such differences include but are not limited to those risk factors set out in the Company's annual information form dated March 28, 2025, which is available on the Company's SEDAR+ profile at All forward-looking statements included in and incorporated into this press release are qualified by these cautionary statements. Unless otherwise indicated, the forward-looking statements contained herein are made as of the date of this press release, and except as required by applicable law, the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. SOURCE Saltire Capital Ltd. View original content:
Cision Canada
12-05-2025
- Business
- Cision Canada
Saltire Capital Ltd. Reports Q1 2025 Financial Results
TORONTO , May 12, 2025 /CNW/ - Saltire Capital Ltd. (TSX: SLT.U) (TSX: SLT) (TSX: (TSX: ("Saltire" or the "Company") today reported its unaudited financial results for the three-month period ended March 31, 2025 . The Company's unaudited condensed consolidated interim financial statements ("Financial Statements") and management's discussion and analysis ("MD&A") have been filed on the System for Electronic Document Analysis and Retrieval Plus ("SEDAR+") and may be viewed under the Company's profile at All references to "$" herein are to United States Dollars. Q1 2025 Highlights For the three months ended March 31, 2025 , the Company reported revenue of $4.3 million , representing an increase of 24.9% compared to revenue of $3.5 million for the three months ended March 31, 2024 . The growth in revenue was primarily driven by a 39% increase in cinema-related sales, reflecting robust order volumes from major clients. Non-cinema and special project revenues also contributed positively, increasing by 16% quarter-over-quarter, supported by immersive content deliveries. Gross profit for the quarter was $1.8 million , compared to $1.4 million in the prior year period, representing a 31.3% increase. The increase was attributable to improved production floor efficiencies, favorable procurement, and a higher proportion of premium-margin products, such as IMAX® certified screens*. Margin improvement also benefited from better absorption of fixed manufacturing costs as volumes increased. Operating income for Q1 2025 was $0.6 million , compared to $0.7 million for Q1 2024. The slight decline was primarily due to higher general and administrative expenses, including payroll, legal, and compliance costs, following the Company's transition as an operating public company after the Qualifying Acquisition (as defined below) in 2024. Net income for the quarter was $10.3 million , compared to $0.6 million for the prior year period. The significant increase was mainly driven by a gain of $10.1 million related to the fair value remeasurement of warrant liabilities, which are non-cash in nature. Earnings before interest, taxes, depreciation and amortization ("EBITDA") for Q1 2025 was $10.8 million , compared to $1.0 million in Q1 2024, with the increase similarly driven by the warrant valuation gain. Adjusted EBITDA, which excludes the fair value remeasurement of warrants and other non-operating items, was $0.7 million , compared to $1.0 million in Q1 2024. The decline in Adjusted EBITDA reflects increased operating expenses as a reporting issuer, partially offset by stronger sales and improved gross margins. "EBITDA" and "Adjusted EBITDA" are non-IFRS measures. See "Non-IFRS Measures" below. "MDI's performance this quarter reflects the operational strength and market position we envisioned when acquiring the business", said Andrew Clark , CEO of Saltire. "The company continues to benefit from strong demand in premium cinema formats and immersive entertainment, while also improving manufacturing efficiency. With a robust sales pipeline heading into the second quarter, we remain confident in MDI's trajectory and are focused on long-term value creation for Saltire shareholders." *IMAX® is a registered trademark of IMAX Corporation. Non-IFRS Measures EBITDA and Adjusted EBITDA are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement the IFRS measures disclosed in the Financial Statements by providing further understanding of Saltire's results of operations from management's perspective. Accordingly, these measures should neither be considered in isolation nor as a substitute for analysis of the Company's financial information reported under IFRS. EBITDA and Adjusted EBITDA are used to provide shareholders with supplemental measures of the Company's operating performance and thus highlight trends in the Company's business that may not otherwise be apparent when relying solely on IFRS measures. Securities regulations require non-IFRS measures to be clearly defined and reconciled with their most directly comparable IFRS measure. Management believes that EBITDA and Adjusted EBITDA are useful measures to assess the performance of the Company as they provide more meaningful operating results by excluding the effects of items that are not reflective of underlying business performance and other one-time or non-recurring items. The following table provides the reconciliation of net income to EBITDA and Adjusted EBITDA for the three-month periods ended March 31, 2025 and 2024: (in millions) Q1 2025 Q1 2024 Net Income $10.26 $0.60 Interest Expense $0.17 $0.13 Income Tax Expense $0.25 $0.16 Depreciation & Amortization $0.12 $0.13 EBITDA $10.80 $1.03 Fair Value Gain on Warrants $(10.11) – Stock-Based Compensation $0.05 $0.01 Adjusted EBITDA $0.74 $1.04 Qualifying Acquisition and Private Placement As previously announced and reported, Saltire completed the acquisition of Strong/MDI Screen Systems, Inc. ("MDI") on September 25, 2024 (the "MDI Acquisition"). The MDI Acquisition, together with the establishment of Saltire's investment platform, constituted Saltire's qualifying acquisition (the "Qualifying Acquisition"). As consideration for the MDI Acquisition, Saltire issued to Strong Global Entertainment Inc., MDI's parent company, 1,972,723 common shares ("Common Shares") valued at $10.00 per share, 900,000 Series A preferred shares (with an initial redemption value of $9 million ), and approximately $0.8 million in cash (collectively, the "Acquisition Consideration"). Concurrent with the acquisition, Saltire completed a private placement offering of 433,559 Common Shares at $10.00 per share, raising gross proceeds of approximately $4.3 million (the "Private Placement"). In accordance with IFRS® Accounting Standards, the Qualifying Acquisition was accounted for as a reverse takeover ("RTO"), whereby MDI is deemed the accounting acquirer and Saltire the accounting acquiree. As MDI was deemed to be the acquirer for accounting purposes, its assets, liabilities and operations since incorporation are included in the Financial Statements at their historical carrying values. Saltire's standalone results of operations have been included from the acquisition date of September 25, 2024 . About Saltire Saltire is a long-term capital partner that allocates capital to equity, debt and/or hybrid securities of high-quality private companies. Investments made by Saltire consist of meaningful and influential stakes in carefully selected private companies that the management believes are under-valued businesses with high barriers to entry, predictable revenue streams and cash flows and defensive characteristics, with a view to significantly improve the fundamental value over the long-term. Although Saltire primarily allocates capital to private companies, Saltire may, in certain circumstances if the opportunity arises, also pursue opportunities with orphaned or value-challenged small and micro-cap public companies. Saltire provides investors with access to private and control-level investments typically reserved for larger players, while maintaining liquidity. Forward Looking Information Certain statements in this press release are prospective in nature and constitute forward-looking information and/or forward-looking statements within the meaning of applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements include, but are not limited to, statements concerning Saltire's initiatives and the impact of same on shareholder value, as well as other statements with respect to management's beliefs, plans, estimates and intentions, and similar statements concerning anticipated future events, results, outlook, circumstances, performance or expectations that are not historical facts. Forward-looking statements generally, but not always, can be identified by the use of forward-looking terminology such as "outlook", "objective", "may", "could", "would", "will", "expect", "intend", "estimate", "forecasts", "seek", "anticipate", "believes", "should", "plans" or "continue" or similar expressions suggesting future outcomes or events and the negative of any of these terms. Forward-looking statements reflect management's current beliefs, expectations and assumptions and are based on information currently available to management. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve known and unknown risks and uncertainties and other factors that could cause actual results to differ materially from those contemplated by such statements. Factors that could cause such differences include but are not limited to those risk factors set out in the Company's annual information form dated March 28, 2025 , which is available on the Company's SEDAR+ profile at All forward-looking statements included in and incorporated into this press release are qualified by these cautionary statements. Unless otherwise indicated, the forward-looking statements contained herein are made as of the date of this press release, and except as required by applicable law, the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. SOURCE Saltire Capital Ltd. FOR FURTHER INFORMATION PLEASE CONTACT: Andrew Clark, Director & Chief Executive Officer, Saltire Capital Ltd., [email protected], (416) 419-9405
Glasgow Times
11-05-2025
- Entertainment
- Glasgow Times
Vandalism appears on new Yoker-Renfrew road bridge
John Shaw, Renfrewshire Council councillor, took to social media to post a photo of a sticker which has appeared on the £117m bridge, which connects Yoker and Clydebank directly to Renfrew. (Image: Image: Newsquest) READ NEXT: Renfrew Bridge officially opens to vehicles and pedestrians The sticker is of Brian Limond, better known as Limmy, and his well-loved character Dee Dee. A picture of Dee Dee appears at the centre of a Saltire and reads 'Les Porter Tartan Army Yoker'. Councillor John Shaw wrote: "So the first reported vandalism on the bridge and it had to be Dee Dee! "Thankfully the Renfrew Tartan Army are a quiet, respectful lot who would never think of getting up to such mischief! "Joking aside though, gonnae no dae that!" It comes just days after a new mural in tribute to Dee-Dee appeared in Yoker. The mural replaces an existing one sprayed by the same artist. Glasgow-based artist 'Tef' posted a video of them completing the artwork on the side of a derelict building next to the Yoker Ferry, near to the new Renfrew bridge. READ NEXT: Drivers warned Glasgow's M8 works to close road for nearly a month The new bridge will accommodate vehicles, cyclists, and pedestrians - as well as opening for passing ships. The project was led by Renfrewshire Council and funded as part of the £1.13billion Glasgow City Region Deal. The Renfrew Bridge has been installed on Meadowside Street on the Renfrewshire side and on Dock Street in Clydebank.
The Herald Scotland
11-05-2025
- Entertainment
- The Herald Scotland
First reported vandalism on new Yoker bridge is Limmy-related
Featuring an image of Limmy's well-loved character Dee Dee at the centre of a Saltire, the sticker reads 'Les Porter Tartan Army Yoker'. Cllr Shaw wrote: "So the first reported vandalism on the bridge and it had to be Dee Dee! "Thankfully the Renfrew Tartan Army are a quiet, respectful lot who would never think of getting up to such mischief! Joking aside though, gonnae no dae that! The appearance of the sticker on the new bridge comes days after a new mural in tribute to Dee-Dee appeared in Yoker. The mural replaces an existing one sprayed by the same artist. Glasgow-based artist 'Tef' posted a video of them completing the artwork on the side of a derelict building next to the Yoker Ferry, near to the new Renfrew bridge. The new bridge is the first opening road bridge across the River Clyde. The 184-metre, twin-leaf bridge uses a cable stay system similar to the Queensferry Crossing and provides a two-lane crossing for vehicles, pedestrians and active travel as it connects Meadowside Street in Renfrew and Dock Street in Yoker, with the ability to open for passing ships as required. READ MORE: The making of Limmy: The comedian on life, fame and growing up in Glasgow Joy and nostalgia in Renfrew as new bridge opens up Clyde New Renfrew Bridge to create jobs boost along Clyde The new bridge is part of the £117million Clyde Waterfront and Renfrew Riverside project, being led by Renfrewshire Council and funded as part of the £1.13billion Glasgow City Region City Deal. According to the UK Government, it could create 1400 new jobs in the area. Kirsty McNeill MP, Parliamentary Under Secretary of State for Scotland, told The Herald: 'The bridge could potentially create 1400 new jobs, so we are really excited about that. 'We've backed that with £39m of investment, because we are so committed to seeing people have more money in their pocket. 'It's going to connect two communities', McNeil said, adding: 'It will improve connections for leisure and transportation between these iconic communities on the banks of the Clyde. 'The UK Government is committed to investing in infrastructure.' Architect Tony Kettle, known for his design of the Falkirk Wheel, crafted the concepts for the bridge. Kettle told The Herald: 'This is more than a bridge. It's a landmark that should become a tourist attraction for the area. 'It's a fantastic connection between the two banks, and will make the area thrive."
