Latest news with #UEN
USA Today
6 days ago
- Business
- USA Today
How Hardy L Pelt and Todd F Brown are Rewriting Black-Owned Media Broadcasting with Urban Edge Network
In a media landscape still dominated by legacy networks and monopolized narratives, Urban Edge Network (UEN) is changing the channel, literally and figuratively. Co-founded by industry veterans Hardy L. Pelt and Todd F Brown, UEN is a Black-owned sports broadcasting and ad tech company on a transformational mission to amplify underrepresented voices, build real commercial equality, and most importantly, put live sports content from underserved institutions on the national and global stage. Together, Pelt and Brown have spearheaded the path for inclusion, while redefining what ownership, access, and innovation look like in sports media. 'We're a Black-owned media company, yes, and that's something we take great pride in,' says Pelt, a seasoned sports executive whose exciting career began in 1988 as a ball boy and equipment manager for the Orlando Magic. 'But we're also an ad-tech company. Everything we broadcast is free to watch. We're monetizing through advertisements, not subscriptions.' From his early experience in locker room access, Pelt rose to become Vice President of Corporate Sales and Services for the Golden State Warriors. His path has been driven by corporate expertise and community passion, especially for HBCUs (Historically Black Colleges and Universities), which he realized were being left behind at a time when media pivoted to ad-driven tech. Witnessing this became the catalyst for UEN's genesis. 'What I found was that the HBCUs were still operating in a 1960s revenue model. Meanwhile, the ad industry has moved far beyond that,' Pelt exclaims. What began as a collective effort to empower Black institutions with greater media representation has grown into something much broader, and importantly, more powerful. UEN now holds broadcasting licenses across predominantly white institutions, along with partnerships with HBCUs and the Texas Legends in the NBA G League. 'The beauty of sports,' Pelt says, 'is that it transcends race, color, and creed. It's a great unifier. And as a media company, that belief has enabled us to look beyond those barriers and stand united.' But even with a strong vision and momentum, the path forward wasn't without friction. Pelt recalls the difficult early days, 'There were many hurdles along the way, and we often faced trouble connecting with people who couldn't see what we had to offer. But that wasn't going to stop me. I just needed a better way to reach out to them.' And quickly, everything began to shift when Pelt was introduced to Todd Brown. 'I didn't know him. Looked him up online, I spoke to him briefly, telling him about my visions, and almost immediately, he started finishing my sentences,' Pelt says. 'He was the first person I met who completely understood the problem and had the experience to help solve it. It was the perfect fit.' Much like Pelt, Brown also brings a formidable experience to the table. He was the former VP at a multinational media conglomerate, former Chairman of the American Diabetes Association, and co-creator of TheGrio, a news publication focusing on African American stories. With deep roots in television broadcasting and empowering black communities, Brown brought a layer of media strategy and infrastructure knowledge that matched Pelt's marketing and sales expertise. 'We complement each other,' says Pelt. 'I'm the facilitator, the one out there building relationships and knocking on doors. Todd's the counsel, I call him when I hit a wall, and he gives me the insight I need. That's why it works.' Together, they've built UEN into a thriving Black-owned streaming network in the country, delivering over 2,000 live and on-demand sporting events each year. And they're not stopping there. What began as a grassroots push for media equality in Black college athletics is on its way to becoming a global platform for underrepresented sports and stories. The company is now setting its sights on international expansion, starting with soccer in the Middle East. 'When I took the blinders off, I realized this isn't just about Black schools,' Pelt shares. 'It's about any athlete, any team, any community that's not being seen. That's the real market. That's where we're going.' Aside from offering sensational sports programming, UEN's model offers schools and conferences visibility with real economic return through advertising, branded content, and programmatic monetization. But its larger mission is just as vital, if not more. 'When you see UEN,' Pelt shares, 'I want you to see the best of a people, the best of a country, and hopefully the best that people can achieve. I want everyone, Black, white, whoever, to be proud of what two guys came together and built, and hopefully that motivates somebody to do what their vision is in life.'
Cision Canada
10-06-2025
- Business
- Cision Canada
ABRDN ASIA-PACIFIC INCOME FUND VCC ANNOUNCES MONTHLY DISTRIBUTION
TORONTO, June 10, 2025 /CNW/ -- abrdn Asia-Pacific Income Investment Fund VCC (TSX: FAP) (UEN: T21VC0235H) (the "Company"), a closed-end investment company trading on the Toronto Stock Exchange, announced today that it will pay a monthly distribution of CAD 1.75 cents per share on June 30, 2025 to all shareholders of record as of June 23, 2025 (ex-dividend date June 23, 2025). The policy of the Company's Board of Directors is to maintain a stable monthly distribution. For the 12 months to May 31, 2025, the Company has paid total distributions amounting to CAD 21.0 cents per ordinary share. As a Singapore domiciled company, all distribution payments will be treated as foreign income for Canadian income tax purposes. Shareholders with registered addresses in Canada will receive distributions in Canadian dollars unless they have elected otherwise. The Company's estimated sources of the current fiscal year to date distributions are as follows: Shareholders should not draw any conclusions about the Company's investment performance from the amount of the Company's current distribution. The amounts and sources of distributions set out above are estimates only and are not being provided for tax reporting purposes. The final determination of the source of all distributions made in 2025 will be made after the year-ended 2025. The actual amounts and sources of the amounts of distributions for tax reporting purposes will depend upon the Company's results during the remainder of the calendar year and are subject to any changes to applicable tax regulations. Information for tax reporting purposes will be provided to the Company's shareholders on a Form T5 in February of 2026. Important Information Past performance is no guarantee of future results. Investment returns and principal will fluctuate and shares, when sold, may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted. NAV returned data includes investment management fees, custodial charges, bank loan expenses and administrative fees (such as Director and legal fees) and assumes the reinvestment of all distributions. The Company is subject to investment risk, including the possible loss of principal. Total return based on net asset value reflects changes in the Company's net asset value during each period. Total return based on market price reflects changes in market value. Aberdeen Investments is the registered marketing name in Canada for the following entities: abrdn Canada Limited, abrdn Inc., abrdn Investments Luxembourg S.A., and abrdn Alternative Funds Limited. abrdn Canada Limited ("abrdn") is registered as a Portfolio Manager and Exempt Market Dealer in all provinces and territories of Canada as well as an Investment Fund Manager in the provinces of Ontario, Quebec, and Newfoundland and Labrador. Closed-end funds are traded on the secondary market through one of the stock exchanges. The Company's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the Company. There is no assurance that the Company will achieve its investment objective. Past performance does not guarantee future results.
Yahoo
10-06-2025
- Business
- Yahoo
ABRDN ASIA-PACIFIC INCOME FUND VCC ANNOUNCES MONTHLY DISTRIBUTION
TORONTO, June 10, 2025 /CNW/ -- abrdn Asia-Pacific Income Investment Fund VCC (TSX: FAP) (UEN: T21VC0235H) (the "Company"), a closed-end investment company trading on the Toronto Stock Exchange, announced today that it will pay a monthly distribution of CAD 1.75 cents per share on June 30, 2025 to all shareholders of record as of June 23, 2025 (ex-dividend date June 23, 2025). The policy of the Company's Board of Directors is to maintain a stable monthly distribution. For the 12 months to May 31, 2025, the Company has paid total distributions amounting to CAD 21.0 cents per ordinary share. As a Singapore domiciled company, all distribution payments will be treated as foreign income for Canadian income tax purposes. Shareholders with registered addresses in Canada will receive distributions in Canadian dollars unless they have elected otherwise. The Company's estimated sources of the current fiscal year to date distributions are as follows: Total Distributions Dividends Declared Fiscal Year to Date (Foreign Income) Estimated Component of Distribution from Earnings Estimated Component of Distribution in Excess of Available Net Investment Income $0.1400 $0.1400 $0.0000 Shareholders should not draw any conclusions about the Company's investment performance from the amount of the Company's current distribution. The amounts and sources of distributions set out above are estimates only and are not being provided for tax reporting purposes. The final determination of the source of all distributions made in 2025 will be made after the year-ended 2025. The actual amounts and sources of the amounts of distributions for tax reporting purposes will depend upon the Company's results during the remainder of the calendar year and are subject to any changes to applicable tax regulations. Information for tax reporting purposes will be provided to the Company's shareholders on a Form T5 in February of 2026. Important Information Past performance is no guarantee of future results. Investment returns and principal will fluctuate and shares, when sold, may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted. NAV returned data includes investment management fees, custodial charges, bank loan expenses and administrative fees (such as Director and legal fees) and assumes the reinvestment of all distributions. The Company is subject to investment risk, including the possible loss of principal. Total return based on net asset value reflects changes in the Company's net asset value during each period. Total return based on market price reflects changes in market value. Aberdeen Investments is the registered marketing name in Canada for the following entities: abrdn Canada Limited, abrdn Inc., abrdn Investments Luxembourg S.A., and abrdn Alternative Funds Limited. abrdn Canada Limited ("abrdn") is registered as a Portfolio Manager and Exempt Market Dealer in all provinces and territories of Canada as well as an Investment Fund Manager in the provinces of Ontario, Quebec, and Newfoundland and Labrador. Closed-end funds are traded on the secondary market through one of the stock exchanges. The Company's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the Company. There is no assurance that the Company will achieve its investment objective. Past performance does not guarantee future results. abrdn Asia-Pacific Income Fund VCC SOURCE abrdn Asia-Pacific Income Fund VCC View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
14-03-2025
- Business
- Associated Press
abrdn Asia-Pacific Income Fund VCC (FAP) Announces Overwhelming Approval to Remove 10% Cap From Annual Redemption Right Commencing in 2026
TORONTO, ON / ACCESS Newswire abrdn Asia-Pacific Income Fund VCC (TSX:FAP) (UEN: T21VC0235H) (the 'Company'), a closed-end investment company trading on the Toronto Stock Exchange, announced today the results of the Annual General and Special Meeting of Shareholders (the 'Meeting') held on March 14, 2025. The Company is pleased to announce that shareholders have approved all resolutions, including amendments to the VCC Constitution including: (a) an annual redemption right eliminating the current 10% Cap which would allow shareholders to tender for redemption when the redemption conditions are met, 100% of the Company's issued and outstanding shares; and (b) provide the Board, abrdn Canada Limited and abrdn Asia Limited the power to terminate and wind up the Company. In light of this approval and the possibility that significant redemptions could result in the Company no longer being economically viable, the Board may determine, commencing in 2026, following the announcement of an annual redemption, that it is in the best interest of the Company and its Shareholders to terminate the Company. Factors that the Board may take into consideration at this time may include the liquidity of the shares and higher share price volatility following a significant redemption. If the Board makes such a determination, it has the discretion to terminate the Company, subject to providing the required notice by way of a press release and compliance with all relevant laws (including, without limitation, the VCC Act). Consequently, if a notice of termination has been provided by way of a press release issued not less than 15 days prior to the Redemption Date, the annual redemption will not proceed and the Company will proceed with a complete liquidation. The description of the Meeting proposals and the shareholders' votes cast for and against each proposal at the Meeting are as follows: 1. Election of Directors The number of directors was set at three (3) and the three (3) nominees listed in the management information circular dated January 17, 2025 (the 'Circular') that stood for election, were elected as directors of the Company by an ordinary resolution passed at the Meeting as follows: Director Votes For Votes Withheld Radhika Ajmera 14,049,188 (97.27%) 394,487 (2.73%) William J. Braithwaite 14,053,589 (97.30%) 390,086 (2.70%) Henny Muliany 14,075,415 (97.45%) 368,260 (2.55%) 2. Election of Auditor The firm KPMG LLP, Singapore was appointed as the auditor of the Company and KPMG LLP, Toronto was appointed as the principal independent registered public accountant of the Company for the fiscal year ending October 31, 2025 by an ordinary resolution passed by 14,396,685 (99.49%) votes for and 73,242 (0.51%) votes withheld. 3. Amendments to the Constitution The proposed amendments to the Company's Constitution as described in the Circular, were adopted by an ordinary resolution passed by 14,009,113 (96.99%) votes for and 434,562 (3.01%) votes against. Final voting results on all matters voted on at the Meeting will be filed on SEDAR+ at Important Information abrdn is the registered marketing name in Canada for the following entities: abrdn Canada Limited, abrdn Inc., abrdn Investments Luxembourg S.A., and abrdn Alternative Funds Limited. abrdn Canada Limited ('abrdn') is registered as a Portfolio Manager and Exempt Market Dealer in all provinces and territories of Canada as well as an Investment Fund Manager in the provinces of Ontario, Quebec, and Newfoundland and Labrador. Closed-end funds are traded on the secondary market through one of the stock exchanges. The Company's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the Company. There is no assurance that the Company will achieve its investment objective. Past performance does not guarantee future results. # # # For More Information Contact: abrdn Inc.
