Latest news with #LTIP
The Sun
2 days ago
- Business
- The Sun
Alliance Bank posts record net profit of RM751m
Kam says the bank's loan growth outpaced the industry average. KUALA LUMPUR: Alliance Bank Malaysia Bhd has posted a record net profit of RM751 million for the financial year ended March 31 2025 (FY25), supported by double-digit loan growth and the ongoing execution of its Acceler8 transformation plan. At its 43rd annual general meeting and subsequent extraordinary general meeting yesterday, shareholders approved all resolutions, including a long-term incentive plan (LTIP) comprising a share issuance scheme and share grant scheme to retain and motivate key staff. CEO Kellee Kam Chee Khiong said the bank's loan growth outpaced the industry average, rising over 12% in FY25. 'We have erased five years of market share losses and are now midway through our Acceler8 journey, with leading indicators progressing positively,' he told reporters at a press conference. The Acceler8 2027 strategy is built on eight pillars, focusing on areas including digital innovation and sustainability. Alliance Bank recently won awards for its virtual credit card and SME digital offerings and reaffirmed its commitment to environmental, social and governance principles. Commenting on the overnight policy rate cut, Kam said net interest margins could narrow by about three basis points from the current 2.45%, though guidance remains between 2.4% and 2.45%. For FY26, the bank projects loan growth of 8% to 10%, slightly below the 12%–14% achieved in previous years, reflecting rising business costs and global uncertainties. Credit cost guidance remains at 30-35 basis points versus 31.9 basis points last year. Alliance Bank expects to complete its relocation to Menara Alliance by August, which will eliminate annual rental expenses of about RM13 million and help offset higher costs from the 8% service tax hike. Executives noted that while GDP growth has been revised to 4–4.5%, domestic demand remains resilient and unemployment is at multi-year lows, supporting asset quality and growth prospects. The bank also expects the 13th Malaysia Plan to spur high-value sectors such as energy transition and technology, potentially boosting credit demand.
Hamilton Spectator
02-07-2025
- Business
- Hamilton Spectator
Voxtur Announces Results of Annual and Special Meeting of Shareholders
TORONTO and TAMPA, Fla., July 02, 2025 (GLOBE NEWSWIRE) — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) ('Voxtur' or the 'Company'), a North American technology company creating a more transparent and accessible real estate lending ecosystem, today announced the results of its Annual and Special Meeting of Shareholders held earlier today (the 'Meeting'). At the Meeting, the shareholders of the Company approved a resolution setting the number of directors of the Company at four and authorizing the Board to set the number of directors, and elected the following persons to serve as directors of the Company (the 'Board'), each for a term of one year or until their successor is duly elected or appointed: Michael Harris, Allan Bezanson, Ray Williams, and Gary Yeoman. The shareholders also approved the appointment of MNP LLP as the Company's auditor and the ratification of the Company's Long-Term Incentive Plan (the 'LTIP'). A complete copy of the LTIP is available in the Management Information Circular for the Meeting, which is available at . Finally, the shareholders confirmed, ratified and approved the Advance Notice By-Law. About Voxtur Voxtur is a proptech company. The company offers targeted data analytics to simplify the multifaceted aspects of the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur's proprietary data hub and workflow platforms more accurately and efficiently value real estate assets, providing critical due diligence that enables market participants to effectively originate, trade, or service defaults on mortgage loans. As an independent and transparent mortgage technology provider, the company offers primary and secondary market solutions in the United States and Canada. For more information, visit . Forward-Looking Information This news release contains certain forward-looking statements and forward-looking information (collectively, 'forward-looking information') which reflect the expectations of management regarding the Company's future growth, financial performance and objectives and the Company's strategic initiatives, plans, business prospects and opportunities. These forward-looking statements reflect management's current expectations regarding future events and the Company's financial and operating performance and speak only as of the date of this press release. By their very nature, forward-looking statements require management to make assumptions and involve significant risks and uncertainties, should not be read as guarantees of future events, performance or results, and give rise to the possibility that management's predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that the assumptions may not be correct and that the Company's future growth, financial performance and objectives and the Company's strategic initiatives, plans, business prospects and opportunities, including the duration, impact of and recovery from the COVID-19 pandemic, will not occur or be achieved. Any information contained herein that is not based on historical facts may be deemed to constitute forward-looking information within the meaning of Canadian and United States securities laws. Forward-looking information may be based on expectations, estimates and projections as at the date of this news release, and may be identified by the words 'may', 'would', 'could', 'should', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' or similar expressions. Forward-looking information may include but is not limited to the anticipated financial performance of the Company and other events or conditions that may occur in the future. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the information is provided. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information include but are not limited to: additional costs related to acquisitions, integration of acquired businesses, and implementation of new products; changing global financial conditions, especially in light of the COVID-19 global pandemic; reliance on specific key employees and customers to maintain business operations; competition within the Company's industry; a risk in technological failure, failure to implement technological upgrades, or failure to implement new technological products in accordance with expected timelines; changing market conditions related to defaulted mortgage loans, and the failure of clients to send foreclosure and bankruptcy referrals in volumes similar to those prior to the COVID-19 global pandemic; failure of governing agencies and regulatory bodies to approve the use of products and services developed by the Company; the Company's dependence on maintaining intellectual property and protecting newly developed intellectual property; operating losses and negative cash flows; and currency fluctuations. Accordingly, readers should not place undue reliance on forward-looking information contained herein. Factors relating to the Company's financial guidance and targets disclosed in this press release include, in addition to the factors set out above, the degree to which actual future events accord with, or vary from, the expectations of, and assumptions used by, Voxtur's management in preparing the financial guidance and targets. This forward-looking information is provided as of the date of this news release and, accordingly, is subject to change after such date. The Company does not assume any obligation to update or revise this information to reflect new events or circumstances except as required in accordance with applicable laws. Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Voxtur's common shares are traded on the TSX Venture Exchange under the symbol VXTR and in the US on the OTCQB under the symbol VXTRF. Company Contact: Jordan Ross Tel: (416)708-9764 jordan@
The Herald Scotland
13-06-2025
- Business
- The Herald Scotland
Scottish Water: Swinney signed off on £3m of 'fat cat' bonuses
The Herald has seen confirmation that from 2010 to 2021, John Swinney was responsible for approving the payouts to Scottish Water described as "incentive plans" when he was finance secretary. He had during that time been critical of bonus payments when paid by councils, universities and other public bodies. The bonuses and benefits bill at Scottish Water amounted to £2.8m in the final eight years of his role. The three key directors including then chief Douglas Millican received benefits and bonuses worth £628,000 in 2021/22 alone and it included £395,000 from a Long Term Incentive Plan (LTIP) covering a period from 2015 to 2021. Present and past chief executive of Scottish Water - Douglas Millican and Alex Plant (Image: Newsquest) The biggest payout came in 2015/16 when the then four-man board received a total of £669,000 - including a further LTIP bonus. State-owned Scottish Water has been included amongst the list of bodies, including Scottish Government's core directorates, its associated departments, agencies and corporations that the Scottish Government's public sector pay policy applies to. Other state-owned firms such as Ferguson Marine are not included. The public sector pay policy says that the suspension of bonuses allows public bodies to maximise their resources to "address fair pay issues and pay awards". The Scottish Government insists it is exempt. It comes as water bills in Scotland increased by almost 10% in April while Scottish Water is in the midst of a bitter pay dispute with staff. The long-standing policy says that the suspension applies to all non-consolidated performance payments. It was Mr Swinney himself that said that bonuses would be suspended back in 2010 while saying that public sector salaries would be frozen. And in 2015, he hit out at bonus payments totalling almost £7m paid by councils, universities and other public bodies in 2013/14. He had said it would be a "good idea" if these organisations followed the Scottish Government's example and ended the practice of awarding bonuses at a time of continued pressure on the public purse. He said at the time: "One of the tough decisions I took was to restrict public sector pay policy to enable us to maintain employment levels in the public sector. "It meant also that bonuses had to come to an end and that was the right decision to protect public services and the public finances." Read more by Martin Williams: But in the wake of The Herald's revelations about the extent of the latest bonuses at Scottish Water, Mr Swinney defended the awards. He states in March in a response to questions in Parliament: "When it comes to the recruitment of leadership for Scottish Water, we are invariably in competition with other water companies around the United Kingdom. "In that competition, the element of bonuses is part of the fabric of the financial settlements that are available to attract employees. Comparatively, bonus payments for the leadership of Scottish Water are much lower than those in other parts of the United Kingdom and the performance of Scottish Water is much higher than that of companies in other parts of the United Kingdom. "I acknowledge that those are difficult comparisons to make, but they are part of the judgments that the Government has to arrive at on how we attract the leadership to safeguard the important asset that is Scottish Water." Former Scottish Labour leader and current convener of the parliamentary public audit committee Richard Leonard said the bonuses should not exist and that they should go into a pay pot for the benefit of everyone. Richard Leonard (Image: Scottish Parliament TV) He said of Mr Swinney's involvement: 'This is a failure of political leadership. 'John Swinney personally sanctioned and signed off bonuses and benefits for Scottish Water bosses for more than a decade, so we perhaps should not be surprised to see him defending them now. "He is now choosing to use his office as First Minister to stand up for Scottish Water executive excesses rather than backing Scottish Water workers. He is on the wrong side of the argument." In 2022/23 three key executives of Scottish Water, Douglas Millican, Peter Farrer and Alan Scott, between them pulled in £242,000 in performance bonuses and benefits which include car allowances and inclusion on a life assurance scheme on top of six-figure salaries. But since the installation of chief executive Alex Plant in place of Douglas Millican in 2023 the executive bonuses have risen to £329,000 in 2023/24. Mr Plant in the first ten months in post as chief executive received bonuses and benefits amounting to £170,000 on top of a £246,000 basic salary, taking his remuneration package including pension to £483,000. Those benefits included a one-off £73,000 payment made to Mr Plant - who had previously been director of strategy and regulation at Anglian Water - to relocate to Scotland. That included £13,000 in relocation assistance, an accommodation allowance of £29,000 and a contribution of £42,000 towards Land and Building Transaction Tax (LBTT) associated with the purchase of a new permanent home. Scottish Water has defended the salary packages saying that they maintain and operate a "simple remuneration structure" with a pay policy that aims are to "attract, develop, motivate and retain highly talented people at all levels of the organisation" and to "incentivise and reward good individual and corporate performance as well as out-performance". But GMB Scotland has been fiercely critical of 'fat cat' bonuses as it is one of the unions in dispute with the utility over a 7% pay rise over two years which they say falls short of what other public sector workers in Scotland have received. Claire Greer, GMB Scotland organiser in Scottish Water, said: 'The First Minister's defence of indefensible bonuses to Scottish Water executives while workers are having to fight and scratch for a fair rise is disappointing and frustrating but sadly not surprising. Claire Greer (Image: GMB) "The same leadership team being heaped with financial rewards has led the company into a long-running industrial dispute after entirely failing to engage with the workforce in a constructive, clear and fair way. 'If John Swinney really believes that failure, that dereliction of duty at a publicly-owned company, merits such exorbitant bonuses he is living in a very different world to its workers. "If these bonuses are really in line with the Scottish Government's public pay policy then it is not a policy at all but window dressing that is unfit for purpose and needs overhauled.' Scottish Water, which serves more than 2.6m households, operates under an annual borrowing limit set by the Scottish Government. The annual borrowing limit controls the amount by which Scottish Water can increase externally sourced finance. Net new borrowing by Scottish Water from the Scottish Government was planned to be to the tune of £170m in 2024/25 to carry out its activities. As at March 31, 2024, government loans to Scottish Water totalled £4.7 billion. Scottish Water declined to comment. A Scottish Government spokesman said: "Scottish Water has a longstanding exemption on this point of Public Sector Pay Policy in recognition of its operating model and the need to retain staff in competition with the private sector. "The framework for bonus payments has to be approved by Scottish Ministers who have reviewed this ahead of each regulatory period since 2007-2011. The current framework was approved in advance of the 2021-27 regulatory period.'
Cision Canada
06-06-2025
- Business
- Cision Canada
MTL Cannabis Corp. Announces Shareholder Alignment Initiative
PICKERING, ON, June 6, 2025 /CNW/ - MTL Cannabis Corp. (CSE: MTLC) ("MTL" or the "Company") announced today its shareholder alignment initiatives through the implementation of a long-term incentive plan ("LTIP"). In connection with the approval of the LTIP, executive officers were granted restricted share units ("RSUs") and deferred share units ("DSUs"), with deferred vesting. This initiative reflects the Company's commitment to aligning the executive team interests with shareholders and to support retention and leadership stability. The grant was comprised of two million RSUs and three million DSUs, with the RSUs vesting annually in arrears over three years and the DSUs vesting on the third anniversary of the grant. About MTL Cannabis Corp. MTL Cannabis Corp. is the parent company of Montréal Medical Cannabis Inc. ("MTL Cannabis"), a licensed producer operating from a 57,000 sq ft licensed indoor grow facility in Pointe Claire, Québec; Abba Medix Corp., a licensed producer in Pickering, Ontario that operates a leading medical cannabis marketplace; IsoCanMed Inc., a licensed producer in Louiseville, Québec growing best-in-class indoor cannabis, in its 64,000 sq. ft. production facility; and Canada House Clinics Inc., operating clinics across Canada that work directly with primary care teams to provide specialized cannabinoid therapy services to patients suffering from simple and complex medical conditions. As a flower-first company built for the modern street, MTL Cannabis uses proprietary hydroponic growing methodologies supported by handcrafted techniques to produce products that are truly craft for the masses. MTL Cannabis focuses on craft quality cannabis products, including lines of dried flower, pre-rolls and hash marketed under the "MTL Cannabis", "Low Key by MTL" and "R'belle" brands for the Canadian market through nine distribution arrangements with various provincial cannabis distributors. MTL Cannabis has also developed several export channels for bulk and unbranded GACP quality cannabis. It is MTL's goal for Abba Medix Corp. to become the leading distributor of medical cannabis in Canada and for Canada House Clinics to be the leading Canadian provider of medical cannabis clinic services. For further information, please visit or the Company's public filings at Cautionary Statement Regarding Forward-Looking Information. This press release contains forward- looking statements, including statements that relate to, among other things, the Company's clinic, production and technology businesses, its future plans, the Company's markets, objectives, goals, strategies, intentions, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "possible", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Material assumptions used to develop forward-looking information in this news release include, the regulations related to cannabis use under the Cannabis Act (Canada); Company liquidity and capital resources, including the availability of additional capital resources to fund its activities and repay its outstanding indebtedness; level of competition; the ability to adapt products and services to the changing market; the ability to attract and retain key executives; the ability to execute strategic plans; continued integration of business unit, expansion activities at all our operating locations; and the leveraging of cash flow from operations to accelerate growth and further improve the Company's balance sheet. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company's Listing Statement dated August 14, 2023 and its most recent annual and interim Management's Discussion and Analysis under "Risk and Uncertainties" as well as in other public disclosure documents filed with Canadian securities regulatory authorities. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.
Yahoo
06-06-2025
- Business
- Yahoo
MTL Cannabis Corp. Announces Shareholder Alignment Initiative
PICKERING, ON, June 6, 2025 /CNW/ - MTL Cannabis Corp. (CSE: MTLC) ("MTL" or the "Company") announced today its shareholder alignment initiatives through the implementation of a long-term incentive plan ("LTIP"). In connection with the approval of the LTIP, executive officers were granted restricted share units ("RSUs") and deferred share units ("DSUs"), with deferred vesting. This initiative reflects the Company's commitment to aligning the executive team interests with shareholders and to support retention and leadership stability. The grant was comprised of two million RSUs and three million DSUs, with the RSUs vesting annually in arrears over three years and the DSUs vesting on the third anniversary of the grant. About MTL Cannabis Corp. MTL Cannabis Corp. is the parent company of Montréal Medical Cannabis Inc. ("MTL Cannabis"), a licensed producer operating from a 57,000 sq ft licensed indoor grow facility in Pointe Claire, Québec; Abba Medix Corp., a licensed producer in Pickering, Ontario that operates a leading medical cannabis marketplace; IsoCanMed Inc., a licensed producer in Louiseville, Québec growing best-in-class indoor cannabis, in its 64,000 sq. ft. production facility; and Canada House Clinics Inc., operating clinics across Canada that work directly with primary care teams to provide specialized cannabinoid therapy services to patients suffering from simple and complex medical conditions. As a flower-first company built for the modern street, MTL Cannabis uses proprietary hydroponic growing methodologies supported by handcrafted techniques to produce products that are truly craft for the masses. MTL Cannabis focuses on craft quality cannabis products, including lines of dried flower, pre-rolls and hash marketed under the "MTL Cannabis", "Low Key by MTL" and "R'belle" brands for the Canadian market through nine distribution arrangements with various provincial cannabis distributors. MTL Cannabis has also developed several export channels for bulk and unbranded GACP quality cannabis. It is MTL's goal for Abba Medix Corp. to become the leading distributor of medical cannabis in Canada and for Canada House Clinics to be the leading Canadian provider of medical cannabis clinic services. For further information, please visit or the Company's public filings at Cautionary Statement Regarding Forward-Looking Information. This press release contains forward- looking statements, including statements that relate to, among other things, the Company's clinic, production and technology businesses, its future plans, the Company's markets, objectives, goals, strategies, intentions, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "possible", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Material assumptions used to develop forward-looking information in this news release include, the regulations related to cannabis use under the Cannabis Act (Canada); Company liquidity and capital resources, including the availability of additional capital resources to fund its activities and repay its outstanding indebtedness; level of competition; the ability to adapt products and services to the changing market; the ability to attract and retain key executives; the ability to execute strategic plans; continued integration of business unit, expansion activities at all our operating locations; and the leveraging of cash flow from operations to accelerate growth and further improve the Company's balance sheet. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company's Listing Statement dated August 14, 2023 and its most recent annual and interim Management's Discussion and Analysis under "Risk and Uncertainties" as well as in other public disclosure documents filed with Canadian securities regulatory authorities. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law. Neither the Canadian Securities Exchange (the "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. SOURCE MTL Cannabis Corp. 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