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Ludhiana: Despite facing significant environmental challenges due to the widespread use of plastic carry bags, the civic officials in the industrial town have failed to curb their usage. These non-biodegradable bags continue to pollute the city, choke sewerage systems, and exacerbate garbage issues. The authorities have even halted the drive against plastic carry bags for reasons known only to them. The civic body has conducted sporadic drives to seize banned plastic carry bags in the past, but the impact has been minimal. Political interference has hindered progress, and the lack of public cooperation worsens the issue. During his five-year term, former mayor Balkar Sandhu repeatedly urged residents to shun plastic carry bags and emphasised the need for sustainable alternatives, but to no avail. Even awareness drives have been conducted to educate the public about alternative measures. Civic officials organised rallies, distributed cloth and paper bags, and encouraged traders to adopt eco-friendly practices. Notably, a small vegetable market was declared plastic-free, but the momentum was lost during the Covid-19 pandemic and subsequent assembly elections, after which it failed to regain pace. An official revealed that over 70% of the city’s issues stem from plastic carry bags, citing sewerage blockages and solid waste problems. “Real change will only come when the public stops using plastic carry bags,” he emphasised. Chief sanitary officer Ashwani Sahota, when contacted about the drive, said: “The staff was busy with the ongoing sanitation drive, which is why we were unable to carry out the drive against plastic carry bags. We have limited staff, but in the coming days, we will resume the challaning drive.” To tackle the problem, the civic body had even installed a shredder at the hot mix plant on Hambran Road so that seized plastic carry bags could be disposed of and utilised in road construction. Officials claimed that now, with the drive not being carried out, plastic carry bags are not reaching the shredder. They also said that they would not be able to use the plastic in road construction at their level, so they have instructed contractors to arrange the plastic waste as per their requirements and use it in road construction. The state government first introduced the Punjab Plastic Carry Bag Act in 2005, regulating the manufacture and use of plastic carry bags. The Act was amended in 2016, imposing a complete ban on manufacturing, stocking, and using plastic carry bags in the state.New high-tech cameras on Perth roads ‘not revenue-raisers’, safety tsar saysSINGAPORE , Nov. 30, 2024 /PRNewswire/ -- Amber DWM Holding Limited ("Amber DWM"), the holding entity of Amber Group's digital wealth management business, known as Amber Premium ("Amber Premium"), today announced that it has entered into a definitive Agreement and Plan of Merger (the "Merger Agreement") with iClick Interactive Asia Group Limited ("iClick" or the "Listco") (NASDAQ: ICLK) and Overlord Merger Sub Ltd. ("Merger Sub"), a Cayman Islands exempted company and a direct, wholly owned subsidiary of the Listco. Under the Merger Agreement, Merger Sub will merge with and into Amber DWM, with Amber DWM continuing as the surviving entity and becoming a wholly-owned subsidiary of the Listco (the "Merger"). Amber DWM's shareholders will exchange all of their issued and outstanding share capital for a mix of newly issued Class A and Class B ordinary shares of the Listco on the terms and conditions set forth therein in a transaction exempt from the registration requirements under the Securities Act of 1933. Wayne Huo , Chief Executive Officer and Director of Amber DWM , said: " We are thrilled to embark on this transformative journey with iClick. This merger represents a significant milestone, bringing together Amber Premium's expertise in digital wealth management and iClick's innovative marketing technology. Together, we aim to redefine the digital financial ecosystem, delivering unparalleled value to our clients and stakeholders. By bridging the worlds of blockchain, fintech and digital marketing, we are unlocking new opportunities to revolutionize how value is created and exchanged in the digital economy ." The transaction values Amber DWM at US$360 million and the Listco at US$40 million by equity value on a fully diluted basis (assuming completion of certain restructuring as set forth in the Merger Agreement). Upon closing of the Merger (the "Closing"), the Amber DWM shareholders and the Listco shareholders (including holders of ADSs) will own approximately 90% and 10%, respectively, of the outstanding shares of the combined company, or 97% and 3% voting power, respectively. The Merger Agreement also contemplates that, upon the Closing, the Listco will change its name to "Amber International Holding Limited" and adopt the tenth amended and restated memorandum and articles of association of the Listco, in each case immediately before the effective time of the Merger (the "Effective Time"), following which the authorized share capital of the Listco shall only consist of Class A ordinary shares and Class B ordinary shares (with different voting powers but equal economic rights), a par value of US$0.001 each. Please refer to the Merger Agreement filed as Exhibit 99.2 to the Form 6-K furnished by the Listco to the SEC on November 29, 2024 for more details. The Listco's board of directors (the "Board") approved the Merger Agreement and other transaction documents, including but not limited to the voting agreement entered into by and among certain shareholders of the Listco (who holds approximately 36% of the outstanding shares representing 71% voting power of the Listco as of the date of this press release), the Listco and Amber DWM (the "Voting Agreement") (collectively, the "Transaction Documents"), and the transactions contemplated thereunder (the "Transactions"), with the assistance of its financial and legal advisors. The Board also resolved to recommend that the Listco's shareholders vote to authorize and approve the Transaction Documents and the Transactions when they are submitted for shareholder approval. In connection with the Transaction, each of the shareholders of Amber DWM immediately prior to the consummation of the Merger is entering into a lock-up agreement with the Listco pursuant to which they have agreed not to transfer the shares received in consideration of the Merger for a period of 12 months following the Merger closing. The completion of the Transactions is subject to the satisfaction of closing conditions set forth in the Merger Agreement, including, among other things, receipt of the Listco's shareholder approval and regulatory/stock exchange approvals (if applicable). The Merger Agreement provides for a long-stop date for any party to terminate the agreement if the Merger is not completed by June 30, 2025 . " This merger represents a transformative opportunity to broaden our business portfolio by integrating Amber Premium's state-of-the-art digital wealth management solutions. By uniting iClick's robust data analytic and enterprise software expertise with Amber Premium's advanced digital wealth management services, we aim to unblock synergies between traditional finance and the rapidly evolving digital asset ecosystem, particularly benefitting corporate and high net worth individual clients ", said Mr. Jian Tang , Chairman, Chief Executive Officer and Co-Founder of iClick . The foregoing description of the Merger Agreement and the Voting Agreement does not purport to be complete and is qualified in its entirety to the full text of the Merger Agreement and the Voting Agreement, which are filed as Exhibits 99.2 and 99.3 to the Form 6-K furnished by the Listco to the SEC on 29, 2024, respectively. Simpson Thacher & Bartlett LLP is serving as U.S. legal counsel to Amber DWM. Cleary Gottlieb Steen & Hamilton LLP is serving as U.S. legal counsel to iClick. About Amber Premium Amber Premium, the business brand behind Amber DWM Holding Limited, is a leading digital wealth management platform offering private banking-level solutions tailored for the dynamic crypto economy. Serving a premium clientele of esteemed institutions and qualified individuals, Amber Premium develops and supports innovative digital wealth management products. Its institutional-grade access and operations makes it the top choice for one-stop digital wealth management services, providing tailored, secure solutions that drive growth in the Web3 economy. About iClick Interactive Asia Group Limited Founded in 2009, iClick Interactive Asia Group Limited (NASDAQ: ICLK) is a renowned online marketing and enterprise solutions provider in Asia . With its leading proprietary technologies, iClick's full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. For more information, please visit https://ir.i-click.com . Safe Harbor Statement This press release contains certain "forward-looking statements." These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the pending transactions described herein, and the parties' perspectives and expectations, are forward-looking statements. The words "will," "expect," "believe," "estimate," "intend," "plan" and similar expressions indicate forward-looking statements. Such forward-looking statements are inherently uncertain, and shareholders and other potential investors must recognize that actual results may differ materially from the expectations as a result of a variety of factors. Such forward-looking statements are based upon management's current expectations and include known and unknown risks, uncertainties and other factors, many of which are hard to predict or control, that may cause the actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to: (i) risks related to the expected timing and likelihood of completion of the proposed transaction, including the risk that the transaction may not close due to one or more closing conditions to the transaction not being satisfied or waived; (ii) the occurrence of any event, change or other circumstances that could give rise to the termination of the applicable transaction agreements; (iii) the risk that there may be a material adverse change with respect to the financial position, performance, operations or prospects of the Listco, Amber DWM or the combined entity; (iv) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (v) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the Listco's securities; (vi) the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Amber DWM or the combined entity to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally; (vii) any changes in the business or operating prospects of Amber DWM and the combined entity or their businesses; (viii) changes in applicable laws and regulations; and (ix) risks relating to Amber DWM's and the combined company's ability to enhance their services and products, execute their business strategy, expand their customer base and maintain stable relationship with their business partners. A further list and description of risks and uncertainties can be found in the proxy statement that will be filed with the SEC by the Listco in connection with the proposed transactions, and other documents that the parties may file or furnish with the SEC, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and the Listco, Amber DWM and their respective subsidiaries and affiliates undertake no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation. No Offer or Solicitation This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the transactions described above and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Amber DWM, the Listco or the combined company, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. Participants in the Solicitation The Listco, Amber DWM and their respective directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of the Listco in connection with the proposed transaction. A list of the names of such directors and executive officers and information regarding their interests in the proposed transaction will be included in the proxy statement pertaining to the proposed transaction when it becomes available for the proposed transaction. Additional Information and Where to Find It The Listco will file with the SEC and mail to its shareholders a proxy statement in connection with the proposed transaction. Investors and securityholders are urged to read the proxy statement when it becomes available because it will contain important information regarding the proposed arrangement. You may access the proxy statement (when available) and other related documents filed by the Listco with the SEC at the SEC's website at www.sec.gov . You also may obtain the proxy statement (when it is available) and other documents filed by the Listco with the SEC relating to the proposed arrangement for free by accessing the Listco's website at ir.i-click.com . View original content to download multimedia: https://www.prnewswire.com/news-releases/amber-groups-subsidiary-amber-dwm-holding-limited-and-nasdaq-listed-iclick-interactive-asia-group-limited-enter-into-a-definitive-merger-agreement-302319082.html SOURCE Amber Group

New high-tech cameras on Perth roads ‘not revenue-raisers’, safety tsar says

Stock indexes closed mixed on Wall Street at the end of a rare bumpy week. The S&P 500 ended little changed Friday. The benchmark index reached its latest in a string of records a week ago. It lost ground for the week following three weeks of gains. The Dow Jones Industrial Average slipped 0.2%. The Nasdaq composite edged up 0.1%. Broadcom surged after the semiconductor company beat Wall Street’s profit targets and gave a glowing forecast, highlighting its artificial intelligence products. RH, formerly known as Restoration Hardware, surged after raising its revenue forecast. Treasury yields rose in the bond market. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. Stocks slipped in afternoon trading Friday as Wall Street closes out a rare bumpy week. The S&P 500 was up by less than 0.1% and is on track for a loss for the week after three straight weekly gains. The Dow Jones Industrial Average fell 58 points, or 0.1% to 43,856 as of 3 p.m. Eastern time. The Nasdaq rose 0.1% and is hovering around its record. Broadcom surged 24.9% for the biggest gain in the S&P 500 after the semiconductor company beat Wall Street’s profit targets and gave a glowing forecast, highlighting its artificial intelligence products. The company also raised its dividend. The company's big gain helped cushion the market's broader fall. Pricey stock values for technology companies like Broadcom give the sector more weight in pushing the market higher or lower. Artificial intelligence technology has been a focal point for the technology sector and the overall stock market over the last year. Tech companies, and Wall Street, expect demand for AI to continue driving growth for semiconductor and other technology companies. Even so, some big tech stocks were in the red Friday. Nvidia slid 2.6%, Meta Platforms dropped 1.7% and Netflix was down 0.7%. Furniture and housewares company RH, formerly known as Restoration Hardware, surged 14.2% after raising its forecast for revenue growth for the year. Wall Street's rally stalled this week amid mixed economic reports and ahead of the Federal Reserve's last meeting of the year. The central bank will meet next week and is widely expected to cut interest rates for a third time since September. Expectations of a series of rate cuts has driven the S&P 500 to . The Fed has been lowering its benchmark interest rate following an aggressive rate hiking policy that was meant to tame inflation. It raised rates from near-zero in early 2022 to a two-decade high by the middle of 2023. Inflation eased under pressure from higher interest rates, nearly to the central bank's 2% target. The economy, including consumer spending and employment, held strong despite the squeeze from inflation and high borrowing costs. A slowing job market, though, has helped push a long-awaited reversal of the Fed's policy. Inflation rates have been warming up slightly over the last few months. A report on consumer prices this week showed an increase to 2.7% in November from 2.6% in October. The Fed's preferred measure of inflation, the personal consumption expenditures index, will be released next week. Wall Street expects it to show a 2.5% rise in November, up from 2.3% in October. The economy, though, remains solid heading into 2025 as consumers continue spending and employment remains healthy, said Gregory Daco, chief economist at EY. “Still, the outlook is clouded by unusually high uncertainty surrounding regulatory, immigration, trade and tax policy,” he said. Treasury yields edged higher. The yield on the 10-year Treasury rose to 4.40% from 4.34% late Thursday. European markets slipped. Britain's FTSE 100 fell 0.1%. Britain’s economy unexpectedly shrank by 0.1% month-on-month in October, following a 0.1% decline in September, according to data from the Office for National Statistics. Asian markets closed mostly lower. Damian J. Troise And Alex Veiga, The Associated PressShares of Valvoline Inc. ( NYSE:VVV – Get Free Report ) have received a consensus recommendation of “Buy” from the nine analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $46.25. A number of equities research analysts have weighed in on the company. Robert W. Baird lowered their price target on Valvoline from $48.00 to $46.00 and set an “outperform” rating on the stock in a research report on Wednesday. Baird R W upgraded Valvoline to a “strong-buy” rating in a report on Thursday, August 15th. Wells Fargo & Company decreased their price objective on Valvoline from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday. Morgan Stanley decreased their price objective on Valvoline from $46.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada decreased their price objective on Valvoline from $52.00 to $46.00 and set an “outperform” rating on the stock in a report on Wednesday. Read Our Latest Report on Valvoline Valvoline Trading Up 0.0 % Valvoline declared that its board has authorized a share repurchase program on Tuesday, July 30th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the basic materials company to buy up to 7.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued. Institutional Inflows and Outflows A number of institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in Valvoline by 57.9% in the second quarter. Blue Trust Inc. now owns 728 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 267 shares in the last quarter. MAI Capital Management grew its position in shares of Valvoline by 2.4% in the 3rd quarter. MAI Capital Management now owns 11,624 shares of the basic materials company’s stock worth $486,000 after buying an additional 268 shares during the period. UMB Bank n.a. increased its stake in shares of Valvoline by 92.1% in the 3rd quarter. UMB Bank n.a. now owns 630 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 302 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in Valvoline by 0.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 47,602 shares of the basic materials company’s stock valued at $1,992,000 after acquiring an additional 313 shares during the period. Finally, Evergreen Capital Management LLC boosted its stake in Valvoline by 6.1% during the second quarter. Evergreen Capital Management LLC now owns 6,292 shares of the basic materials company’s stock worth $272,000 after acquiring an additional 359 shares in the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock. Valvoline Company Profile ( Get Free Report Valvoline Inc engages in the operation and franchising of vehicle service centers and retail stores in the United States and Canada. The company, through its service centers, provides fluid exchange for motor oil, transmission and differential fluid, and coolant; parts replacement for batteries, filters, wiper blades, and belts; and safety services, such as tire inflation and rotation, bulbs, and safety checks. Recommended Stories Receive News & Ratings for Valvoline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valvoline and related companies with MarketBeat.com's FREE daily email newsletter .

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