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Contains the last 10 releases
Updated: 4 weeks 1 day ago

Transactions in relation to share buyback program

Tue, 13/11/2018 - 16:11

Acting under its share buyback authorization, the GN Store Nord Board of Directors initiated a share buyback program on May 2, 2018, in accordance with article 5 of the regulation (EU) no. 596/2014 of 16 April 2014 on market abuse and the delegated regulation (EU) no. 2016/1052 of 8 March 2016, also referred to as the Safe Harbor rules (company announcement no. 15 of May 2, 2018).

The share buyback program has been initiated in order to reduce the company’s share capital and to cover obligations under the long-term incentive program. Under the share buyback program, which runs from May 2, 2018 and will end no later than March 14, 2019, GN intends to buy back shares for an amount of up to DKK 1,000 million.

The following transactions have been made under the program in the period November 6, 2018 – November 12, 2018:

 No. of sharesAverage purchase price, DKKTransaction Value, DKK  November 6, 201800.000  November 7, 201819,550275.655,388,926  November 8, 201811,489282.893,250,136  November 9, 201813,870284.753,949,489  November 12, 201819,523281.935,504,209Accumulated under the program2,008,503281.18564,750,788

Following the above transactions GN holds a total of 12,750,357 own shares corresponding to a nominal value of DKK 51,001,428 and 8.8% of the total share capital and the total voting rights in the company. Every Tuesday, GN will announce the number and value of repurchased shares in company announcements to Nasdaq Copenhagen.

For further information, please contact:

Investors and analysts
Peter Justesen
VP – Investor Relations & Treasury
Tel: +45 45 75 87 16

Or

Rune Sandager
Senior Manager Investor Relations 
Tel: +45 45 75 92 57


Press and the media
Lars Otto Andersen-Lange
Head of Media Relations & Corporate Public Affairs
Tel: +45 45 75 02 55


About GN Group
The GN Group is a global leader in intelligent audio solutions that let you hear more, do more and be more than you ever thought possible. With our unique competencies within medical, professional and consumer audio solutions, we transform lives through the power of sound: Hearing aids that enhance the lives of people with hearing loss; integrated headset and communications solutions that assist professionals in all types of businesses to be more productive; wireless headsets and earbuds designed to support calls, music and media consumption.

With world leading expertise in the human ear, sound, wireless technology and miniaturization, GN’s innovative and intelligent audio solutions are marketed by the brands ReSound, Beltone, Interton, Jabra and Blueparrott in 100 countries across the world. Founded in 1869, the GN Group today has more than 5,500 employees and is listed on Nasdaq Copenhagen (GN.CO).

Visit our homepage GN.com - and connect with us on LinkedIn, Facebook and Twitter.

Attachments

Avid to Host 2018 Investor Day on November 14 at The Westin Grand Central NYC

Mon, 12/11/2018 - 19:30

BURLINGTON, Mass., Nov. 12, 2018 (GLOBE NEWSWIRE) -- Avid® (NASDAQ: AVID), the leading technology provider that powers the media and entertainment industry, today announced that its 2018 Investor Day will be held on Wednesday, November 14, 2018 at the Westin Grand Central located at 212 East 42nd Street in New York City.  During the day, Avid will provide 2019 guidance and a detailed review of its business and strategy.

The session will begin at 10:00 a.m. ET.  Webcast information can be found on the Avid Investor Relations web page at http://ir.avid.com.  The live audio webcast and replay of the event will also be accessible on the Investor Relations section of the Company’s website, which will also include presentation materials.

Investors and analysts interested in attending should contact Dean Ridlon, VP of Investor Relations, at dean.ridlon@avid.com to confirm attendance. 

About Avid
Avid delivers the most open and efficient media platform, connecting content creation with collaboration, asset protection, distribution, and consumption.  Avid’s preeminent customer community uses Avid’s comprehensive tools and workflow solutions to create, distribute and monetize the most watched, loved and listened to media in the world—from prestigious and award-winning feature films to popular television shows, news programs and televised sporting events, and celebrated music recordings and live concerts.  With the most flexible deployment and pricing options, Avid’s industry-leading solutions include Media Composer®, Pro Tools®, Avid NEXIS®, MediaCentral®, iNEWS®, AirSpeed®, Sibelius®, Avid VENUE™, FastServe®, Maestro™, and PlayMaker™. For more information about Avid solutions and services, visit www.avid.com, connect with Avid on FacebookInstagram, TwitterYouTubeLinkedIn, or subscribe to Avid Blogs.

 2018 Avid Technology, Inc. All rights reserved. Avid, the Avid logo, Avid NEXIS, Avid FastServe, AirSpeed, iNews, Maestro, MediaCentral, Media Composer, NewsCutter, PlayMaker, Pro Tools, Avid VENUE, and Sibelius are trademarks or registered trademarks of Avid Technology, Inc. or its subsidiaries in the United States and/or other countries. All other trademarks are the property of their respective owners. Product features, specifications, system requirements and availability are subject to change without notice.

CONTACT: Investor Contact: Dean Ridlon Avid dean.ridlon@avid.com (978) 640-3379 PR Contact: Jim Sheehan Avid jim.sheehan@avid.com (978) 640-3152

YANGAROO and the Producers Guild of America Enter Multi-Year Agreement to Enable Online Entry Process for the Producers Mark and the Producers Guild Awards

Thu, 08/11/2018 - 19:30

TORONTO, Nov. 08, 2018 (GLOBE NEWSWIRE) -- YANGAROO Inc., (TSX-V: YOO, OTCBB: YOOIF) the industry's leading secure digital media management and distribution company, today announced a multi-year agreement with the Producers Guild of America (PGA) to provide the PGA with the YANGAROO Awards industry-leading digital platform to facilitate and administer online entries for the Producers Mark (“p.g.a.”) and the Producers Guild Awards, beginning in May 2019 for its 2020 awards show.

This partnership will provide the PGA with a digital awards system hosted and maintained by YANGAROO, allowing eligible parties to submit their work for Producers Mark certification throughout the year and for consideration for the PGA’s prestigious annual film and television industry awards held annually in January. “After reviewing bids from numerous companies, we selected YANGAROO, most notably because of the sophistication of the YANGAROO Awards platform and the professionalism of the YANGAROO team,” said Vance Van Petten, National Executive Director/COO, PGA. “We look forward to providing our entrants with a user-friendly submissions platform, and to providing our administrators with the best possible tools to do their jobs.”

“We are particularly honored to have been chosen by an organization as venerable as the PGA amongst bids from our competitors,” said Gary Moss, President and CEO, YANGAROO Inc. “We will work towards surpassing their expectations and creating another integral and enduring partnership with a major awards show in the film and television industries.”

The Producers Guild Awards will join over 17 other major awards shows that rely on YANGAROO technology including The GRAMMYS, The Latin GRAMMYS, The Emmys (Daytime, News and Documentary, and Sports), The Golden Globes, The Academy of Country Music Awards, The MTV Video Music Awards (VMAs), The BET Awards, The JUNOS, The Canadian Screen Awards, The BET Hip Hop Awards, The Soul Train Awards, and the Tony Awards.

About the Producers Guild of America:

The Producers Guild of America is a non-profit trade organization that represents, protects and promotes the interests of all members of the producing team in film, television and new media. The PGA works to protect the careers of producers and improve the producing community at large by facilitating health benefits for members, encouraging the enforcement of workplace labor laws and sustainable production practices, creating fair and impartial standards for the awarding of producing credits, and hosting educational opportunities for new and experienced producers alike. The Producers Mark (“p.g.a.”) is a certification mark created by the PGA for the public good to identify which among an often extensive list of producers on a particular feature film performed a major portion of the producing functions in a decision-making capacity. For more information and the latest updates, please visit the PGA websites and follow on social media:

Websites: www.producersguild.orgwww.pgadiversity.orgTwitter: @ProducersGuild Facebook:www.facebook.com/pga YouTube:www.youtube.com/producersguild Instagram:www.instagram.com/producersguild 

About YANGAROO:

YANGAROO is a company dedicated to digital media management. YANGAROO’s patented Digital Media Distribution System (DMDS) is a leading secure B2B digital cloud based solution focused on the music and advertising industries. The DMDS solution provides more accountable, effective, and far less costly digital management of broadcast quality media via the Internet. It replaces the physical, satellite and closed network distribution and management of audio and video content, for music, music videos, and advertising to television, radio, media, retailers, and other authorized recipients. The YANGAROO Awards platform is now the industry standard and powers most of North America’s major awards shows.

YANGAROO has offices in Toronto, New York, and Los Angeles. YANGAROO trades on the TSX Venture Exchange (TSX-V) under the symbol YOO and in the U.S. under OTCBB: YOOIF. For further information, please contact Gary Moss at 416-534-0607 ext.111 or visit www.yangaroo.com.

For YANGAROO Investor Inquiries:
Gary Moss
Phone: (416) 534-0607 ext.111
gary.moss@yangaroo.com

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Cautionary Note Regarding Forward-looking Statements

This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes.

Forward looking statements are subject to both known and unknown risks, uncertainties and other factors, many of which are beyond the control of YANGAROO, that may cause the actual results, level of activity, performance or achievements of YANGAROO to be materially different from those expressed or implied by such forward looking statements, including but not limited to: the use of proceeds of the offering, receipt of all necessary approvals of the offering, general business, economic, competitive, political and social uncertainties; negotiation uncertainties and other risks of the technology industry. Although YANGAROO has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties, some of which are described herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause YANGAROO’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Any forward-looking statements are made as of the date hereof and, except as required by law, neither YANGAROO assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.

Singing Machine to Announce its Financial Results for the Second Quarter Fiscal 2019

Thu, 08/11/2018 - 19:30

Fort Lauderdale, FL, Nov. 08, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- The Singing Machine Company, Inc.  (“Singing Machine” or the “Company”) (OTCQX: SMDM) -- the North American leader in consumer karaoke products -- today announced that its earnings for its second quarter ended September 30, 2018 will be released the morning of Wednesday, November 14, 2018. That same day, Management will host a conference call at 10:00 am Eastern time to discuss the financial results and provide a business update.  

Conference Call Details:

Date: Wednesday, November 14, 2018

Time: 10 a.m. EST 

Dial-in number: (877) 876-9174

Conference ID: SMDM  

An audio rebroadcast of the call will be available later in the day at: http://www.singingmachine.com/investors

About The Singing Machine

Singing Machine® is the worldwide leader in consumer karaoke products.  The first to provide karaoke systems for home entertainment in the United States, the Company sells its products world-wide through major mass merchandisers and on-line retailers. We offer the industry's widest line of at-home karaoke entertainment products, which allow consumers to find a machine that suits their needs and skill level. As the most recognized brand in karaoke, Singing Machine products incorporate the latest technology for singing practice, music listening, entertainment and social sharing. The Singing Machine provides consumers the best warranties in the industry and access to over 13,000 songs for streaming and download.  Singing Machine products are sold through most major retailers in North America and also internationally. See www.singingmachine.com for more details. 

Forward-Looking Statements

This press release contains forward‑looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward‑looking statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management and include, but are not limited to statements about our financial statements for the fiscal year ended March 31, 2018.  You should review our risk factors in our SEC filings which are incorporated herein by reference.  Such forward‑looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward‑looking statement to reflect events or circumstances after the date of this release.

CONTACT: Investor Relations Contact: Brendan Hopkins (407) 645-5295 investors@singingmachine.com www.singingmachine.com www.singingmachine.com/investors

Stingray Reports Second Quarter 2019 Results

Thu, 08/11/2018 - 03:35

Adjusted EBITDA(1) growth of over 20%

Second Quarter Highlights

  • Closing of the Newfoundland Capital Corporation (“NCC”) acquisition significantly improves adjusted free cash flow to approximately $1.00 per share on a pro-forma basis.
  • Stingray’s net debt to Adjusted EBITDA(1) ratio on a pro forma basis is 3.16 times
  • Stingray to maintain historical shareholder dividend payout ratio in the range of 30% and 40% of its Adjusted free cash flow. Dividends are expected to be adjusted twice a year in line with historical practice.
  • Quarterly dividend of $0.06 per share.
  • Acquisitions of Novramedia Inc., a Toronto-based leader in the design, development, and implementation of digital media solutions and DJ-Matic, a European provider of in-store media solutions (music, video, digital signage), subsequent to the quarter
  • Revenues increased 11.1% to $34.7 million with organic growth of 5.4%, excluding non-recurring equipment and installation sales related to digital signage
  • Recurring revenues(2) of $30.7 million or 88.4% of total revenues, an increase of 14.5%
  • Adjusted EBITDA(1) up 20.9% to $11.4 million
  • Net income increased to $0.8 million or $0.01 per share (diluted) compared to a net loss of $3.4 million or $0.07 per share (diluted) last year
  • Subscription video on demand (“SVOD”) revenue increased while subscribers slightly declined 1.8% over previous quarter

MONTREAL, Nov. 07, 2018 (GLOBE NEWSWIRE) -- Stingray Digital Group Inc. (TSX: RAY.A; RAY.B) (the “Corporation”; “Stingray”), a leading business-to-business multi-platform music and in-store media solutions provider, today announced its financial results for the second quarter ended September 30, 2018.

Financial Highlights
(in thousands of dollars, except per share data)Three months ended
September 30Six months ended
September 30
 20182017%20182017%Revenues34,69231,22211.169,14860,89213.6Recurring revenues(2)30,65126,76614.561,44752,26817.6Adjusted EBITDA(1)11,4299,45220.922,60818,62121.4Net income (loss)777(3,395)-2,123(3,115)-Per share – diluted ($)0.01(0.07)-0.04(0.06)-Adjusted Net income(3)6,7085,40724.112,60611,11013.5Per share – diluted ($)0.120.1020.00.220.214.8Cash flow from operating activities5,5062,710103.212,4262,121485.9Adjusted free cash flow(4)5,4486,853(20.5)11,64614,093(17.4)


(1)Adjusted EBITDA is a non-IFRS measure and is defined as net income before net finance expense (income), change in fair value of investments, income tax expense (recovery), depreciation and write-off of property and equipment, amortization of intangible assets, share-based compensation, restricted, performance and deferred share unit expense, acquisition, legal, restructuring and other various costs.(2)Recurring revenues include subscriptions and usage in addition to fixed fees charged to our customers on a monthly, quarterly and annual basis for continuous music services. Non-recurring revenues mainly include support, installation, equipment and one-time fees.(3)Adjusted Net income is a non-IFRS measure and is defined as net income before amortization of intangible assets, share-based compensation, change in fair value of investments, restricted, performance and deferred share unit expense, acquisition, legal, restructuring and other various costs, net of related income taxes.(4)Adjusted free cash flow is a non-IFRS measure and is defined as cash flow from operating activities less capital expenditures for property and equipment, and separately acquired intangible assets, net change in non-cash working capital items, acquisition, legal, restructuring and other various costs.

“Starting in the third quarter, the transformational acquisition of NCC will significantly alter Stingray’s financial profile while representing an important stepping stone in the overall medium- to long-term growth strategy. Despite this large and transformational acquisition, the Corporation will maintain a healthy financial position. Considering the NCC acquisition, the future divestiture of non-core assets related to NCC and a private placement of $25 million, the net debt at closing is estimated at $356 million. On a pro-forma basis, the net debt to Adjusted EBITDA is estimated at 3.16 times,” said Eric Boyko, President, CEO, and Co-Founder of Stingray.

“We are extremely pleased to have Irving West, Limited (Harry R. Steele) reinvest some of the proceeds received from the NCC transaction in the form of a $25 million private placement in Stingray shares at a price of $10.29 per share, being the issuance price of the Stingray shares issued as partial consideration to the NCC shareholders as well as the private placement price of the Stingray shares issued in October 2018 in connection with the transaction. This clearly reflects their confidence in the benefits of the combined companies and tremendous growth opportunities provided by Stingray’s digital platform.

“We are also proud to report another solid quarter with Adjusted EBITDA growth of over 20% fueled by organic growth of 5.4% and margin expansion when compared with last year. Since the beginning of the fiscal year, the drivers of our business remain growth in SVOD and the Qello Concerts acquisition.

“In addition to the closing of the NCC acquisition, we recently announced the acquisitions of DJ-Matic and Novramedia, launched eight linear television channels on Bell, made some key management hires and pursued our discussions related to the potential acquisition of Music Choice. Going forward, we are confident in our ability to deliver on the cross-selling and operational synergies related to acquisitions as well as have the capacity to pursue our acquisition program,” concluded Mr. Boyko.

Second Quarter Results
Revenues increased 11.1% to $34.7 million in the second quarter of 2019, compared with revenues of $31.2 million a year ago. The increase was primarily due to organic growth of SVOD, combined with the acquisition of Qello Concerts.

Recurring revenues were up 14.5% to $30.7 million in the second quarter over the same period last year and increased to 88.4% of total revenues for the quarter, compared to 85.7% of total revenues last year. For the quarter, Canadian revenues decreased 4.1% to $14.2 million (41.0% of total revenues) due to less equipment and installation sales related to digital signage, United States revenues increased 54.5% to $8.1 million (23.3% of total revenues), whereas revenues in Other Countries increased by 11.1% to $12.4 million (35.7% of total revenues).

Music Broadcasting revenues increased 13.9% to $25.5 million, mainly due to organic growth related to SVOD, as well as the acquisition of Qello concerts. Commercial Music revenues rose 3.9% to $9.2 million, mainly due to the acquisition of Novramedia, SMA and SBA, combined with organic growth resulting from international expansion, partially offset by a decrease in equipment and installation sales related to digital signage.

Adjusted EBITDA for the second quarter increased to $11.4 million or 32.9% of revenues, compared to $9.5 million or 30.3% of revenues a year earlier. The increase in Adjusted EBITDA was primarily due to the acquisitions realized in Fiscal 2018 and Fiscal 2019 and to the organic growth of SVOD, partially offset by higher operating expenses related to international expansion.

For the second quarter, the Corporation reported a net income of $0.8 million, or $0.01 per share (diluted), compared to a net loss of $3.4 million, or $(0.07) per share (diluted) for the same period last year. The increase was mainly attributable to lower legal fees and higher operating results, partially offset by higher income tax expense and depreciation.

Adjusted Net Income was $6.7 million, or $0.12 per share (diluted), compared to $5.4 million, or $0.10 per share (diluted) a year ago, as higher operating results were partially offset by higher depreciation and income net tax expense.

Cash flow generated from operating activities increased to $5.5 million in the second quarter of 2019 from $2.7 million a year earlier. Adjusted free cash flow decreased to $5.4 million, from $6.9 million for the same period a year ago. The decrease was mainly related to higher capital expenditures and income tax paid, partially offset by higher operating results.

As of September 30, 2018, the Corporation had cash and cash equivalents of $2.2 million and a revolving credit facility of $100 million, of which approximately $42.7 million was unused.

Six Months Results
Revenues for the first six months of Fiscal 2019 increased 13.6% to $69.1 million compared to $60.9 million a year ago. The increase in revenues was primarily due to organic growth of SVOD, combined with the acquisitions of Qello Concerts, SMA and SBA.

Adjusted EBITDA increased 21.4% to $22.6 million from $18.6 million for the same period last year. The increase in Adjusted EBITDA was primarily due to the acquisitions realized in Fiscal 2018 and Fiscal 2019 and to the organic growth of SVOD, partially offset by higher operating expenses related to international expansion.

Adjusted Net income for the first six months of Fiscal 2019 increased 13.5% to $12.6 million, or $0.22 per share (diluted), compared to $11.1 million, or $0.21 per share (diluted) a year ago.

Declaration of Dividend
On November 7, 2018, the Corporation declared a dividend of $0.06 per subordinate voting share, variable subordinate voting share and multiple voting share. The dividend will be payable on or around December 14, 2018 to shareholders on record as of November 30, 2018.

The Corporation’s dividend policy is at the discretion of the Board of Directors and may vary depending upon, among other things, our available cash flow, results of operations, financial condition, business growth opportunities and other factors that the Board of Directors may deem relevant.

The dividends paid are designated as "eligible" dividends for the purposes of the Income Tax Act (Canada) and any corresponding provisions of provincial and territorial tax legislation.

Additional Business Highlights
On October 26, 2018, the Corporation announced the closing of the previously announced acquisition of Newfoundland Capital Corporation Limited, one of Canada's leading radio broadcasters with 101 licences (82 FM and 19 AM) across Canada.

On October 10, 2018, the Corporation announced the acquisition of DJ-Matic, a provider of in-store media solutions (music, video, digital signage) for businesses with clients in Belgium, the Netherlands, Germany, and Denmark.

On September 19, 2018, the Corporation announced the appointment of Ryan Fuss as Senior Vice-President, Advertising Sales to spearhead the development of the Corporation’s integrated advertising offering - both domestically and internationally – in support of the Corporation’s growth objectives.

On August 28, 2018, the Corporation announced that it had launched eight linear television channels with Bell. This launch follows the May 29, 2018 announcement that Bell and the Corporation had extended and renewed their long-term partnership.

On August 22, 2018, the Corporation announced the appointment of David Purdy as Chief Revenue Officer. The creation of a position of chief revenue officer reflects the accelerated growth of the Corporation’s operations and the diversification of its revenue streams.

On August 3, 2018, the Corporation announced that it had made an unsolicited offer to purchase all of the issued and outstanding units of Music Choice, a general partnership which produces music programming and music-related content for digital cable television, mobile phone and cable modem users. No assurance can be given that the offer, as presented, will be accepted by all or any of the unitholders.

Lastly, other changes were made to the executive team of the Corporation and to the Audit Committee of the Board of Directors of the Corporation, as Stephen Tapp and Valery Zamuner will no longer serve as executives of the Corporation. Also, David Purdy and Robert Steele have both stepped down from the Audit Committee and have been replaced by Mark Pathy and Jacques Parisien. Pascal Tremblay will continue to chair the Audit Committee.

Conference Call
The Corporation will hold a conference call to discuss these results on Thursday, November 8, 2018, at 10:00 AM (ET). Interested parties can join the call by dialing 647-788-4922 (Toronto) or 1-877-223-4471 (toll free). If you are unable to call at this time, you may access a tape recording of the conference call by dialing 416-621-4642 (Toronto) or 1-800-585-8367 (toll free) followed by access code: 2071249. This tape recording will be available until December 7, 2018.

About Stingray
Stingray (TSX:RAY.A) (TSX:RAY.B) ) is a leading music, media, and technology company with over 1,200 employees worldwide. Stingray is a premium provider of curated direct-to-consumer and B2B services, including audio television channels, 101 radio stations, SVOD content, 4K UHD television channels, karaoke products, digital signage, in-store music, and music apps, which have been downloaded over 101 million times. Stingray reaches 400 million subscribers (or users) in 156 countries. For more information: www.stingray.com.

Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian securities law. Such forward-looking information includes, but is not limited to, information with respect to Stingray's goals, beliefs, plans, expectations, anticipations, estimates and intentions. Forward-looking information is identified by the use of terms and phrases such as "may", "would", "should", "could", "expect", "intend", "estimate", "anticipate", "plan", "foresee", "believe", and "continue", or the negative of these terms and similar terminology, including references to assumptions. Please note, however, that not all forward-looking information contains these terms and phrases. Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Stingray's control. These risks and uncertainties could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors identified in Stingray's Annual Information Form for the year ended March 31, 2018, which is available on SEDAR at www.sedar.com. Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that Stingray anticipates will be realized or, even if substantially realized, that they will have the expected consequences or effects on Stingray's business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and Stingray does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.

Non-IFRS Measures
The Corporation believes that Adjusted EBITDA and Adjusted EBITDA margin are important measures when analyzing its operating profitability without being influenced by financing decisions, non-cash items and income taxes strategies. Comparison with peers is also easier as companies rarely have the same capital and financing structure. The Corporation believes that Adjusted net income and Adjusted net income per share are important measures as it demonstrates its core bottom-line profitability. The Corporation believes that Adjusted free cash flow is an important measure when assessing the amount of cash generated after accounting for capital expenditures and non-core charges. It demonstrates cash available to make business acquisitions, pay dividend and reduce debt. The Corporation believes that Net debt and Net debt to Adjusted EBITDA are important measures when analyzing the significance of debt on the Corporation’s statement of financial position. Each of these non-IFRS financial measures is not an earnings or cash flow measure recognized by IFRS and does not have a standardized meaning prescribed by IFRS.

Our method of calculating such financial measures may differ from the methods used by other issuers and, accordingly, our definition of these non-IFRS financial measures may not be comparable to similar measures presented by other issuers. Investors are cautioned that non-IFRS financial measures should not be construed as an alternative to net income determined in accordance with IFRS as indicators of our performance or to cash flows from operating activities as measures of liquidity and cash flows.

Adjusted EBITDA and Adjusted Net income reconciliation to Net income

 Three-month periods endedSix-month periods ended(in thousands of Canadian dollars)Sept. 30, 2018
Q2 2019Sept. 30, 2017
Q2 2018Sept. 30, 2018
YTD 2019Sept. 30, 2017
YTD 2018Net income (loss)777(3,395)2,123(3,115)Net finance expense (income)9101,2692,8311,806Change in fair value of investments436697(61)1,131Income tax expense (recovery)567(941)1,056(477)Depreciation and write-off of property and equipment1,2747182,4431,339Amortization of intangible assets5,2554,5089,8429,049Share-based compensation358312553506Restricted, performance and deferred share unit expense5187098851,022Acquisition, legal fees, restructuring and other various costs1,3345,5752,9567,360Adjusted EBITDA11,4299,45222,60818,621Net finance expense (income)(910)(1,269)(2,831)(1,806)Income tax expense (recovery)(567)941(1,056)477Depreciation of property and equipment and write-off(1,274)(718)(2,443)(1,339)Income taxes related to change in fair value of investments, share-based compensation, restricted, performance and deferred share unit expense, amortization of intangible assets and acquisition, legal, restructuring and other various costs(1,970)(2,999)(3,672)(4,843)Adjusted Net income6,7085,40712,60611,110

Adjusted free cash flow reconciliation to Cash flow from operating activities

 Three-month periods endedSix-month periods ended(in thousands of Canadian dollars)Sept. 30, 2018
Q2 2019Sept. 30, 2017
Q2 2018Sept. 30, 2018
YTD 2019Sept. 30, 2017
YTD 2018Cash flow from operating activities5,5062,71012,4262,121Add / Less :    Acquisition of property and equipment(1,488)(705)(3,716)(1,512)Acquisition of intangible assets other than internally developed intangible assets(1,383)(1,000)(1,730)(1,404)Addition to internally developed intangible assets(1,390)–(2,595)–Net change in non-cash operating working capital items2,8692734,3057,528Acquisition, legal fees, restructuring and other various costs1,3345,5752,9567,360Adjusted free cash flow5,4486,85311,64614,093

Note to readers: Condensed interim consolidated financial statements and Management’s Discussion & Analysis of Operating Results and Financial Position are available on the Corporation’s website at www.stingray.com and on SEDAR at www.sedar.com.

Contact information:

Mathieu Péloquin
Senior Vice-President, Marketing and Communications
Stingray
(514) 664-1244, ext. 2362
mpeloquin@stingray.com

Funcl Introduces Wireless Headphones That Deliver Big Sound and Popular Features at Affordable Prices

Tue, 06/11/2018 - 19:34

Funcl W1 and Funcl AI make wireless headphones accessible to consumers

SAN FRANCISCO, Nov. 06, 2018 (GLOBE NEWSWIRE) -- Funcl is poised to make wireless headphones more accessible to consumers – without sacrificing sound quality or features. The company is introducing two new models, the Funcl W1 and the Funcl AI, with prices starting at $19.99.

Both models will be available for purchase through Indiegogo starting Tuesday, Nov. 13, 2018.

“Funcl assembled a team of experts from several world-class audio companies to design wireless headphones for a wider audience,” said Mike Qian, marketing manager for Funcl. “Our goal was to cut the price and not cut the features or performance so more people can enjoy the benefits of wireless headphones.”

Funcl W1 is priced at just $19.99, comparable to a pair of basic ear buds. They are powered by Bluetooth 5.0 and deliver features found on wireless headphones that cost $100 or more:

  • 18-hour Battery Life: Funcl W1 lasts 4.5 hours on a full charge, and the charging case provides another three charges for a total of 18.5 hours.
  • Easy Touch Controls: Funcl W1 turns on and connects to devices automatically, and buttons on the headphones allow users to easily control music and phone calls.
  • Sound Quality: Audio engineering supports AAC (Advanced Audio Coding) and uses the Realtek 8763B chipset for high quality sound.
  • Premium Design: Funcl WI is designed for a comfortable fit on the inside and aesthetic appeal on the outside.

Funcl AI are the most affordable aptX headphones. Priced at $54.99, the Funcl AI model includes these high-end features:

  • 24-hour Battery Life: Funcl AI lasts six hours on a full charge, with three additional charges provided by the charging case for a full 24 hours – comparable to high-end wireless headphone models.
  • Sound Quality: Funcl AI provides aptX support, making them optimal for watching movies or playing games on a phone.
  • App Support: Funcl AI app provides additional convenience by making the AI voice assistant more intuitive.

Both Funcl W1 and Funcl AI are water and sweat resistant with a rating of IPX5, perfect for the gym or outdoor use. Both models charge with a Micro-USB cable and are available in black or white.

For more information on Funcl wireless headphones, please visit https://funcl.com/.

About Funcl
Funcl is a hardware startup devoted to making wireless headphones accessible to everyone. The company developed a team of experts from world-class audio companies to develop wireless headphones that deliver high-end features at budget prices. For more information, please visit https://funcl.com/.

Media Contact
Amber Richards
Uproar PR for Funcl
arichards@uproarpr.com
321-236-0102 x237

Transactions in relation to share buyback program

Tue, 06/11/2018 - 18:19

Acting under its share buyback authorization, the GN Store Nord Board of Directors initiated a share buyback program on May 2, 2018, in accordance with article 5 of the regulation (EU) no. 596/2014 of 16 April 2014 on market abuse and the delegated regulation (EU) no. 2016/1052 of 8 March 2016, also referred to as the Safe Harbor rules (company announcement no. 15 of May 2, 2018).

The share buyback program has been initiated in order to reduce the company’s share capital and to cover obligations under the long-term incentive program. Under the share buyback program, which runs from May 2, 2018 and will end no later than March 14, 2019, GN intends to buy back shares for an amount of up to DKK 1,000 million.

The following transactions have been made under the program in the period October 30, 2018 – November 5, 2018:

 No. of sharesAverage purchase price, DKKTransaction Value, DKK  October 30, 20183,500273.47957,133  October 31, 201813,548280.893,805,465  November 1, 20182,890276.12797,978  November 2, 20185,000284.791,423,974  November 5, 20187,935282.022,237,844Accumulated under the program1,944,071281.19546,658,028

Following the above transactions GN holds a total of 12,685,925 own shares corresponding to a nominal value of DKK 50,743,700 and 8.7% of the total share capital and the total voting rights in the company. Every Tuesday, GN will announce the number and value of repurchased shares in company announcements to Nasdaq Copenhagen.

For further information, please contact:

Investors and analysts
Peter Justesen
VP – Investor Relations & Treasury
Tel: +45 45 75 87 16

Or

Rune Sandager
Senior Manager Investor Relations 
Tel: +45 45 75 92 57


Press and the media
Lars Otto Andersen-Lange
Head of Media Relations & Corporate Public Affairs
Tel: +45 45 75 02 55


About GN Group
The GN Group is a global leader in intelligent audio solutions that let you hear more, do more and be more than you ever thought possible. With our unique competencies within medical, professional and consumer audio solutions, we transform lives through the power of sound: Hearing aids that enhance the lives of people with hearing loss; integrated headset and communications solutions that assist professionals in all types of businesses to be more productive; wireless headsets and earbuds designed to support calls, music and media consumption.

With world leading expertise in the human ear, sound, wireless technology and miniaturization, GN’s innovative and intelligent audio solutions are marketed by the brands ReSound, Beltone, Interton, Jabra and Blueparrott in 100 countries across the world. Founded in 1869, the GN Group today has more than 5,500 employees and is listed on Nasdaq Copenhagen (GN.CO).

Visit our homepage GN.com - and connect with us on LinkedIn, Facebook and Twitter.

Attachments

Stingray Announces $25 Million Private Placement at a Price of $10.29 per Share

Tue, 06/11/2018 - 03:35

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

MONTREAL, Nov. 05, 2018 (GLOBE NEWSWIRE) -- Stingray Digital Group Inc. (“Stingray”) (TSX: RAY.A; RAY.B) today announced that it has entered into a subscription agreement with Irving West, Limited (“Irving West”) pursuant to which Irving West has agreed to purchase an aggregate of 2,429,544 Subordinate Voting Shares of Stingray (the “Private Placement Shares”) at a price of $10.29 per Subordinate Voting Share for total gross proceeds of $25,000,007.76.

Irving West is a company controlled by Mr. Harry R. Steele, a former Chairman of Newfoundland Capital Corporation Limited, which was acquired by Stingray on October 26, 2018.

“I am honoured by the vote of confidence in Stingray and its business model showed today by the Steele family,” said Eric Boyko, President, Co-founder, and Chief Executive Officer of Stingray. “By investing in Stingray at a price above market value, the Steele family supports our vision of growth by way of acquisitions and innovative product development. This placement, a testament to their trust in Stingray’s management team, unlocks the potential for continued expansion, more specifically through the digital evolution of our recently acquired radio properties.”

The net proceeds of the private placement will be used for working capital, including to provide further flexibility for a future major acquisition. Pending such application of the net proceeds of the private placement, Stingray will reimburse certain amounts owing under its credit facilities, which credit facilities shall remain fully available to Stingray including to fund future acquisitions.

The issuance of the Private Placement Shares is subject to the approval of the TSX. The Private Placement Shares will be subject to a four-month hold from the date of issuance, which is scheduled to occur on or about November 13, 2018.

This announcement is not an offer of securities for sale in the United States. The Private Placement Shares may not be offered or sold in the United States absent registration or an exemption from registration.

About Stingray Digital Group Inc.
Montreal-based Stingray Digital Group Inc. (TSX: RAY.A; RAY.B) is a leading music, media, and technology company with over 1,200 employees worldwide. Stingray is a premium provider of curated direct-to-consumer and B2B services, including audio television channels, 101 radio stations, SVOD content, 4K UHD television channels, karaoke products, digital signage, in-store music, and music apps, which have been downloaded over 100 million times. Stingray reaches 400 million subscribers (or users) in 156 countries. For more information: www.stingray.com.

Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian securities laws, including regarding the private placement of 2,429,544 Subordinate Voting Shares of Stingray (the “Private Placement”). This forward-looking information includes, but is not limited to, statements with respect to the use of proceeds of the Private Placement and the closing date of the Private Placement. This forward-looking information relates to, among other things, our objectives and the strategies to achieve these objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimations and intentions, and may also include other statements that are predictive in nature, or that depend upon or refer to future events or conditions. Statements with the words “could”, “expect”, “may”, “will”, “anticipate”, “assume”, “intend”, “plan”, “believes”, “estimates”, “guidance”, “foresee”, “continue” and similar expressions are intended to identify statements containing forward looking information, although not all forward-looking statements include such words. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.

Although management believes the expectations reflected in such forward-looking statements are reasonable, forward-looking statements are based on the opinions, assumptions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include, but are not limited to the risk factors disclosed in Stingray’s Annual Information Form for the year ended March 31, 2018 available on SEDAR.

In addition, if any of the assumptions or estimates made by management prove to be incorrect, actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Such assumptions include, but are not limited to, availability of capital resources, satisfaction of customary closing conditions, and receipt of regulatory approval with respect to the Private Placement. If these assumptions are inaccurate, Stingray’s actual results could differ materially from those expressed or implied in such forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on such statements.

All of the forward-looking information in this document is qualified by these cautionary statements. Statements containing forward-looking information contained herein are made only as of the date of this news release. Stingray expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

For more information, please contact:

Mathieu Péloquin
Senior Vice-President, Marketing and Communications
Stingray Digital Group Inc.
1 514-664-1244, ext. 2362
mpeloquin@stingray.com

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