Latest news with #directors
Harvard Business Review
a day ago
- Business
- Harvard Business Review
Presenting a New Strategy to the Board—And Winning Their Buy-In
You and your team have worked hard on a new strategy and you're ready to present it to the board. You've done your homework, talking with directors one on one to gather suggestions and identify concerns. Now you want to have a robust and thoughtful discussion, but you ultimately need to get to their support to move forward.
New York Times
a day ago
- Business
- New York Times
Will Trump's Tariffs Spoil Earnings Season?
Andrew here. We've got a provocative idea to chew on: Should directors of public companies be licensed? That's a concept being explored in our new feature, 'Hot Take,' involving Jonathan Foster, a former managing director at Lazard. I'm curious what you think. Meantime, we're taking a look at the earnings reports streaming in; Polymarket's plan to make betting available in the United States, and your thoughts on the Coldplay kiss-cam episode I wrote about on Monday. C.E.O.s in the spotlight Wall Street had set a pretty low bar for this earnings season. Fears that President Trump's trade war would roil supply chains and inflation and concerns of consumers pulling back on purchases were expected to weigh on corporate profits and guidance. So far, that hasn't materialized. The S&P 500 closed at another record on Monday, helped by a batch of somewhat upbeat earnings calls, even with little evident progress on trade talks before Trump's Aug. 1 tariffs deadline. But a new test begins this week. Bellwethers like Coca-Cola and General Motors are next in line. The carmaker on Tuesday reported a second-quarter sales decline, and said that tariffs on foreign-made vehicles and parts wiped out $1.1 billion in profits in the same period. Stellantis said something similar on Monday. Mary Barra, G.M.'s C.E.O., wrote in a statement that the company was adapting 'to new trade and tax policies, and a rapidly evolving tech landscape.' Want all of The Times? Subscribe.
Irish Times
2 days ago
- Business
- Irish Times
Profits up at BOC Aviation Irish arm
The Irish arm of aircraft lessor BOC Aviation posted pre-tax profits of $243.3 million (€208.62 million) last year, mainly due to a $158 million insurance payment received concerning 15 aircraft detained in Russia. New accounts filed by the Dublin based BOCAviation (Ireland) Ltd show that the pre-tax profits of $243.3 million for 2024 are 21 per cent down on the pre-tax profits of $308.19 million in 2023. The insurance payouts last year followed $258 million paid out in 2023 under the same heading. Total revenues and other income decreased by 7 per cent to $660.4 million in 2024 from $710.6 million in 2023. READ MORE The 2024 revenues included lease revenues of $374.25 million. The directors state that the decline is mainly due to lower insurance settlements in respect of aircraft owned by the company and formerly leased to Russian airlines which were detained in Russia. The directors state that 'the company is continuing to pursue insurance claims in respect of aircraft currently or formerly detained in Russia'. The directors said that in general, 2024 saw a return to growth across the industry with traffic recovery to near 2019 levels. The Irish unit is a wholly-owned subsidiary of BOC Aviation Limited which is a public company incorporated in the Republic of Singapore and listed on the main board of the Hong Kong Stock Exchange. The insurance settlement concerning the 15 aircraft coincided with the company's professional fee costs increasing by 59 per cent to $12.69 million. At the end of December last, the company had a total of owned and managed aircraft of 142 aircraft, including 111 owned aircraft and 31 managed aircraft. The company recorded a post tax profit of $206.7 million after incurring a corporation tax charge of $36.6 million. The pre-tax profit takes account of non-cash depreciation costs of $166.24 million and finance costs of $181.3 million. The firm last year recorded profits of $22.4 million from $211.92 million realised from the sale of aircraft. The firm employs 11 here and staff costs last year increased by 69 per cent from $3.16 million to $5.33 million that included $4.34 million in salaries, bonuses and other staff costs. Directors' pay last year totalled $963,000 that included emoluments of $731,000. The firm's cash funds last year increased from $119.65 million to $151.16 million. The business paid out no dividend last year. The directors state that total assets were stable year-on-year, at $5.39 billion at December 31st 2024 compared to $5.38 billion one year prior.
Globe and Mail
5 days ago
- Business
- Globe and Mail
Avanti Gold Closes Second Tranche of Previously Announced $1,400,000 Private Placement
Vancouver, British Columbia--(Newsfile Corp. - July 18, 2025) - Avanti Gold Corp. (CSE: AGC) (the "Company") is pleased to announce that it has closed the final tranche of the previously announced non-brokered private placement (the "Offering") for gross proceeds of $517,998. This final tranche completes the full $1,400,000 Offering. The Company issued 14,799,927 units (the "Units") at a price of $0.035 per Unit in this closing. Each Unit consists of one common share (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one additional Common Share at an exercise price of $0.05 per share for a period of 12 months from closing. No finder's fees were paid in connection with the final tranche. The Common Shares and Warrants issued under the Offering are subject to a four-month statutory hold period ending November 15, 2025, under applicable Canadian securities laws and are considered "restricted securities" as defined in Rule 144(a)(3) under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"). Officers and directors of the Company participated in the final tranche, acquiring a total of 7,142,857 Units. This participation constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to Sections 5.5(a) and 5.7(1)(a), as the value of the Units issued to insiders does not exceed 25% of the Company's market capitalization. The net proceeds from the Offering will be used to pay annual license fees related to the Company's Misisi Gold Project in the Democratic Republic of Congo and for general working capital purposes. The securities issued in connection with the Offering have not been and will not be registered under the U.S. Securities Act or any state securities laws. Accordingly, such securities may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction where such offer, solicitation or sale would be unlawful. Following the Offering, Martino De Ciccio, the lead investor, holds approximately 9.9% of the Company on a partially diluted basis. In addition, Chairman Sir Sam Jonah, CEO Ian MacLean, and other members of the board and management collectively hold approximately 19% on a partially diluted basis. As insiders, their participation also constitutes a "related party transaction" but is exempt from MI 61-101's formal valuation and minority approval requirements. Omnibus Equity Incentive Plan The Company also announces that it has granted a total of 3,500,000 restricted share units ("RSUs") to certain directors, officers, and consultants pursuant to its Omnibus Equity Incentive Plan (the "Omnibus Plan"). The RSUs are subject to vesting conditions. Once vested, each RSU entitles the holder to receive either one Common Share or the cash equivalent, at the Company's discretion. About Avanti Gold Corp. Avanti Gold Corp. is a gold exploration company with a strong portfolio of projects in Africa. The Company's flagship asset is the Misisi Project in the Democratic Republic of Congo (DRC), which hosts the Akyanga gold deposit. Akyanga contains an Inferred Mineral Resource of 44.3 million tonnes at an average grade of 2.37 grams per tonne (g/t) of gold, totaling approximately 3.1 million ounces. The Misisi Project encompasses three contiguous 30-year mining leases covering 133 square kilometers along the 55-kilometer-long Kibara Gold Belt, a prolific metallogenic zone known for hosting significant gold deposits. Qualified Person Ephraim Masibhera, a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), has reviewed and approved the scientific and technical information contained in this news release. Historical information presented herein should not be relied upon, as it has not been verified by the Company's Qualified Person. Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain " Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words " anticipate", " believe", " estimate", " expect", " target, " plan", " forecast", " may", " schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company ' s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. These risk and uncertainties include, but are not limited to, the risk factors set out in Avanti ' s annual and/or quarterly management discussion and analysis and in other of its public disclosure documents filed on SEDAR+ at as well as all assumptions regarding the foregoing. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
Bloomberg
6 days ago
- Business
- Bloomberg
National Australia Bank Directors Met as CEO Faces Scrutiny: AFR
National Australia Bank Ltd. directors met to discuss Chief Executive Officer Andrew Irvine following investor concern about the leader's managing style and drinking at client events, the Australian Financial Review reported. The board meeting earlier this week, led by NAB chair Phil Chronican, focused on public perceptions of Irvine and the firm, according to the AFR. It wasn't a planned gathering and didn't include all eight directors, according to the report, citing an unidentified person.
