BEIJING, Jan. 4, 2021 /PRNewswire/ — AirNet Technology Inc., formerly known as AirMedia Group Inc. (“AirNet” or the “Company”) (Nasdaq: ANTE), an in-flight solution provider on connectivity, entertainment, and digital multimedia in China, today announced that on December 30, 2020, it has entered into an investment agreement (the “Agreement”) with Unistar Group Holdings Ltd. (“Unistar”), an unaffiliated party of the Company. Pursuant to the Agreement, the Company has agreed to issue 23,876,308 ordinary shares with a par value of US$0.001 per share (each a “Share”), or approximately 19 % of the Company’s currently outstanding ordinary shares, to Unistar, in exchange for the delivery and transfer by Unistar to the Company of 500 computer servers specifically designed for mining cryptocurrencies. The computer servers were valued at US$ 2,530,888.61, representing a per Share consideration of US$0.106, or US$1.06 per American depositary share of the Company (each representing ten Shares). The per ADS consideration represents a 20% discount to the average closing price of the Company’s ADSs over the 20-trading day period ended on December 29, 2020, the last trading day prior to the date when the Agreement was signed.
Mr. Herman Guo, the Chairman and CEO of the Company, commented “The Company has recognized the needs to store and analyze data generated from the inflight connectivity business and the boom of the power of the blockchain technology as applied to the Company’s use cases. With the acquisition of 500 computer servers specifically designed for mining cryptocurrencies, the Agreement epitomizes the Company’s determination to create values for its investors along with its drive for technological innovations, which sets the Company on a relentless search for new venues to expand and broaden the Company’s ability to provide blockchain empowered solutions to its existing and potential clients. After careful evaluation of this opportunity, the Company is convinced that it is the right time to take another leap in technological innovation and form a new line of business embracing the mining of cryptocurrencies and future applications derived upon cryptocurrencies.”
About AirNet Technology Inc.
Incorporated in 2007 and headquartered in Beijing, China, AirNet provides in-flight solutions to connectivity, entertainment and digital multimedia in China. Collaborating with its partners, AirNet empowers Chinese airlines with seamlessly immersive Internet connections through a network of satellites and land-based beacons, provides airline travelers with interactive entertainment and a coverage of breaking news, and furnishes corporate clients with advertisements tailored to the perceptions of the travelers. For more information, please visit us at http://ir.ihangmei.com.
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “is expected to,” “anticipates,” “aim,” “future,” “intends,” “plans,” “believes,” “are likely to,” “estimates,” “may,” “should” and similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements are based upon management’s current expectations and current market and operating conditions, and involve inherent risks and uncertainties, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause its actual results, performance or achievements to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, but not limited to the following: its ability to achieve and maintain profitability; its ability to continuously improve its solutions and services enabling inflight connectivity; its ability to compete effectively against its competitors; the expected growth in consumer spending, average income levels and advertising spending levels; the growth of the inflight connectivity industry in China; and government policies affecting the inflight connectivity industry in China. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
SOURCE AirNet Technology Inc.
Province announces approx. $1.9M investment in local townships – KitchenerToday.com
A funding boost to our local townships announced by the provincial government today, as MPP for Kitchener-Conestoga Mike Harris Jr. announced almost $1.9 million dollars in investments for infrastructure projects in the townships of Wellesley, Wilmot and Woolwich. Those funds made available through the Ontario Community Infrastructure Fund (OCIF) are said to come through the province’s continuing effort to support municipalities “as they build and repair roads, bridges, water and wastewater infrastructure.”
In a release, MPP Harris Jr. said the funding will help local municipalities in moving forward with their infrastructure priorities and asset management planning needs in 2021. Of the nearly $1.9M investment, Wellesley will receive $518,917, Wilmot will be receiving $728,765 and $630,843 will go to Woolwich.
“This is part of my commitment to support our local municipalities and make our community the best place to live and grow.” said Harris.
Part of a larger investment effort, the funds come as part of the province’s approximately $200 million commitment to 424 communities to help address core infrastructure products and other planning needs this year. Also commenting on the province-wide effort was the Minister of Infrastructure Laurie Scott, who said the investment in infrastructure projects has the government “strengthening and building communities.”
“This is part of our ongoing commitment to support small, rural and northern municipalities across Ontario, providing stable funding needed to build long-term economic resilience.”
Funding through the Ontario Community Infrastructure Fund provides stable and predictable funding for rural and northern communities with populations under 100,000. The province also provides funding to communities through the Canada Infrastructure Program – a $30-billion, 10-year program shared between federal, provincial and municipal governments.
Ovintiv faces proxy challenge from investment firm Kimmeridge – The Globe and Mail
Kimmeridge Energy Management Co on Tuesday launched a proxy fight against Ovintiv Inc to win three seats on the oil producer’s board.
The private investment firm urged Ovintiv to alter its capital spending, focus on governance and said that the board had allowed Ovintiv to become an environmental laggard, trailing peers on key environmental metrics.
Kimmeridge has nominated its founder Ben Dell, Cambiar Investors’ Katherine Minyard and Columbia University research scholar Erin Blanton as independent directors to Ovintiv’s board.
Ovintiv, responding to the Kimmeridge notice, said it will carefully review the nominations.
Kimmeridge owns 2.5% of Ovintiv’s common shares and is one of the oil driller’s top ten shareholders.
“Despite our best efforts to engage constructively with the company, the Board was dismissive of our recommendations to help position Ovintiv as a leading E&P,” said Mark Viviano, managing partner and head of public equities at Kimmeridge.
Earlier this month, Kimmeridge had urged Ovintiv to focus on capital allocation, management compensation issues and establishing environmental strategy.
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NEW Fidelity Investment Solutions: Fidelity Multi-Asset Innovation Fund and Fidelity All-in-One ETFs – Canada NewsWire
TORONTO, Jan. 26, 2021 /CNW/ – Fidelity Investments Canada ULC (“Fidelity”), one of Canada’s top investment management firms, today launched new investment products available to Canadian financial advisors and investors – Fidelity Multi-Asset Innovation Fund, Fidelity All-in-One Balanced ETF/ETF Fund and Fidelity All-in-One Growth ETF/ETF Fund.
“In today’s uncertain times, Canadian financial advisors and investors are looking for more stability to help them achieve their investing and life goals − balanced funds are an ideal solution for this. Moreover, investors are looking to invest with managers that have the experience and global resources to navigate and capitalize on the constant changes all around us”, said Kelly Creelman, Senior Vice President, Products & Marketing. “With today’s launch of Fidelity’s new products, we are meeting demand by offering advisors and investors convenient ways that can help them grow their savings in a balanced manner.”
Fidelity Multi-Asset Innovation Fund
Fidelity Multi-Asset Innovation Fund harnesses the experience of renowned portfolio managers Mark Schmehl, Jeff Moore and Michael Plage. This new fund leverages the vast research resources of Fidelity that span across asset classes and the globe. This global balanced mandate aims to achieve a high total investment return by investing primarily in, or providing exposure to, a mix of equity and an expansive set of fixed income securities of U.S. and other issuers from around the world.
“Mark Schmehl’s strong historical track record in equities coupled with the fixed income investing acumen of Jeff Moore and Michael Plage form the basis of the new Fidelity Multi-Asset Innovation Fund, “said Creelman. “By bringing Mark’s focus on positive change and Jeff’s and Michael’s focus on income and risk mitigation, this Fund can serve as a core holding for advisors and investors aiming for strong risk-adjusted returns with lower volatility.”
When investing in equity securities, portfolio manager Mark Schmehl seeks to identify companies that are positioned to benefit from innovative emerging technologies or business models. On the fixed income side, portfolio managers Jeff Moore and Michael Plage aim to generate income while focusing on mitigating risk through investing in global investment grade bonds, higher yielding lower quality fixed income securities and more.
Fidelity All-in-One ETFs
Fidelity All-in-One ETFs are a convenient and cost-efficient one-ticket solution for advisors and investors looking for exposure to a globally-diversified portfolio of stocks and bonds. These ETFs, sub-advised by Geode Capital Management LLC, will provide broad market exposure that goes beyond a passive approach, by harnessing the power of Fidelity Factor ETFs and Fidelity’s systematic and active fixed income management. We have combined the best features of an ETF – choice, simplicity, and cost – with the attraction of professional management. The Fidelity All-in-One ETFs are designed with strategic asset allocation and portfolio rebalancing with indirect management fees from the underlying ETFs. These funds are expected to begin trading on the NEO Exchange effective January 26, 2021. They are also available in mutual fund versions.
Fidelity All-in-One Balanced ETF (FBAL) aims to achieve capital growth through total returns by using a strategic allocation approach. It invests primarily in underlying Fidelity ETFs that provide exposure to a diversified portfolio of global equity and fixed income securities. It generally follows a neutral mix of 60% global equity securities and 40% global fixed income securities.
Fidelity All-in-One Growth ETF (FGRO) seeks capital growth through a strategic allocation approach with generally more emphasis on equities. It invests primarily in underlying Fidelity ETFs that provide exposure to a diversified portfolio of global equity and fixed income securities. It generally follows a neutral mix of 85% global equity securities and 15% global fixed income securities.
For more information, visit fidelity.ca
About Fidelity Investments Canada ULC
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals.
As a privately-owned company, our people and world class resources are committed to doing what is right for investors and their long-term success. Our clients have entrusted us with $175 billion in assets under management (as at January 19, 2021) and they include individuals, financial advisors, pension plans, endowments, foundations and more.
We are proud to provide investors a full range of investment solutions through mutual funds and exchange-traded funds, including domestic, international and global equity, income-oriented strategies, asset allocation solutions, managed portfolios, sustainable investing and our high net worth program. Fidelity Funds are available through a number of advice-based distribution channels including financial planners, investment dealers, banks, and insurance companies.
Read a fund’s prospectus and consult your financial advisor before investing. Exchange-traded funds are not guaranteed, their values change frequently, and past performance may not be repeated. Commissions, management fees, brokerage fees and expenses may all be associated with investments in exchange-traded funds and investors and may experience a gain or loss.
Find us on social media @FidelityCanada
SOURCE Fidelity Investments Canada ULC
For further information: Chris Pepper, Vice-President, Corporate Affairs Fidelity Investments Canada ULC T: (416) 307-5388, M: (416) 795-7762, E: [email protected]
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