Category Archives: Financial Management

Financial Management

Digi Communications N.V.’s Romanian and Spanish subsidiaries sign facility agreements

BUCHAREST, Romania, 27-Jul-2021 — /EPR FINANCIAL NEWS/ — Digi Communications N.V. (The Company) would like to inform its investors and the market that on 21 and 26 July 2021, the Company’s Romanian and Spanish subsidiaries, each acting as borrowers, entered into two facility agreements.

As per the Senior Facility Agreement from December 15, 2020 the details of which were disclosed at that point to the market (please see https://bvb.ro/FinancialInstruments/SelectedData/NewsItem/DIGI-Contractul-de-Facilitate-Senior-incheiata-la-15-decembrie-2020/D0599), an incremental facility was made available to RCS&RDS, which could be established in accordance with the terms and limits set within the Senior Facilities Agreement. Therefore, pursuant to the Senior Facilities Agreement, on 21 July 2021, the Company’s Romanian subsidiary requested the establishment of an incremental facility in an aggregate amount of RON 500,000,000 (the “Incremental Facility”) to be used for the company’s capital expenditure and general corporate purposes. The facility was entered into, besides RCS&RDS as borrower, by and between DIGI Tavkozlesi es Szolgaltato Korlatolt Felelossegu Tarsasag („Digi Hu”), INVITEL Tavkozlesi Zrt (“Invitel”), the Company, Digi Spain Telecom SLU (“Digi Spain”), as original guarantors on one hand and the Original Lenders and BRD-Groupe Société Générale S.A., on the other. The Incremental Facility is not yet drawn. It is available to be drawn at a later stage.

On 26 July 2021, the Company’s Spanish subsidiary, acting as borrower together with the Company, RCS&RDS, Digi Hu and Invitel, as Original Guarantors, Banco Santander S.A. and a syndicate of banks, acting as lenders, entered into a facilities agreement for an initial duration of three and a half years with the possibility of extension up to 5 years, under which Digi Spain was made available: (i) a term loan facility in a total aggregate amount of EUR 57,000,000; (ii) a term loan facility in a total aggregate amount of EUR 65,000,000; and (iii) a revolving facility in a total aggregate amount of EUR 10,000,000 to be used for several purposes, including CAPEX and general corporate purposes.

For details regarding the reports, please access the official websites designated of Digi: www.digi-communications.ro (Investor Relations Section).

SOURCE: EuropaWire

Digi Communications NV grants conditional stock options to several of its Directors

BUCHAREST, Romania, 20-May-2021 — /EPR FINANCIAL NEWS/ — The Company would like to inform the market and its investors that, on 19 May 2021, Mr. Serghei Bulgac (Chief Executive Officer and Executive Director of the Company), Mr. Valentin Popoviciu (Executive Director of the Company) and Mr. Bogdan Ciobotaru (Non-Executive Director of the Company) have been granted by the Company conditional stock options pursuant to the decision of the Company’s general meeting of shareholders dated 18 May 2021. The total number of options of class B shares granted as part of this stock option plan (applicable for the year 2021) amounts to 160.000. The further vesting of all option shares granted will be conditional upon several performance criteria and the passage of a minimum duration of 1 year.

More details regarding the stock options granted to each of the above-mentioned Directors are available on the Company’s website at https://www.digi-communications.ro/en/see-file/Agenda-and-explanatory-notes-1.pdf (the Agenda and Explanatory notes published by the Company on 6 April 2021, Annex I and II).

In accordance with the applicable regulations, on 19 May 2021, Mr. Serghei Bulgac, Mr. Valentin Popoviciu and Mr. Bogdan Ciobotaru, as persons discharging managerial responsibilities in connection with the Company, have notified the Company and the Romanian Financial Supervisory Authority in connection with the grant of the above-mentioned stock options and the execution between each of them and the Company of corresponding stock option agreements.

SOURCE: EuropaWire

Digi Communications N.V. 2021 General Shareholders Meeting adopted decisions

BUCHAREST, Romania, 18-May-2021 — /EPR FINANCIAL NEWS/ — The Company would like to inform the market and its investors that today, Tuesday, 18 May 2021, at 14:00 PM CEST, at the offices of Freshfields Bruckhaus Deringer LLP, Strawinskylaan 10, 1077 XZ Amsterdam, the Netherlands, took place the Company’s general shareholders’ meeting (the GSM) with respect to which the Company informed its shareholders and the market through the Convocation notice released on 6 April 2021 (the Convocation Notice).

The GSM was attended – either in person or by representative – by shareholders representing 73.54%of the total number of shares with voting rights, respectively 69,656,100 shares.

Following the debates, the GSM has adopted the following decisions regarding the points included on the agenda, in accordance with the Convocation Notice:

2. The Annual Report of the Company for 2020 (item 2 from the Convocation Notice):

c. Adoption of the 2020 Annual Accounts;
d. Distribution of dividend – based on the approval, the Company will distribute a gross dividend of 0.75 RON per share, ex-date – 2 June 2021 and the record date being 3 June 2021. It is expected that the payment date will be on or around 14 June 2021;
e. Release from liability of the members of Board of Directors.
The investors and the market were informed of the 2020 financial results by the publication of the 2020 annual report on 6 April 2021.

3. Remuneration Report for 2020

The general meeting approved by an advisory vote the Remuneration Report for 2020 made public on the Company’s website. The Remuneration Report for 2020 is construed according to the provisions of EU Directive 828/2017 as implemented in The Netherlands.

4. Appointment of Statutory Auditor – Ernst & Young Accountants, LLP, Netherlands.

5. Designation of the Board of Directors as the competent body to repurchase own Class B Shares – based on this approval, the Board of Directors shall have the authority to acquire class B shares through purchases effected on the stock exchange, for the purposes of being granted to statutory executive directors, managers and employees of the group under the various stock option plans approved or to be approved by the Company, in accordance with the applicable legal provisions, for a period of 12 months from the date of the AGM (i.e., up to and including 18 May 2022).

The authority of the Board of Directors shall be limited to a maximum of up to 10% of the issued class B share capital at the close of trading on the Regulated Spot Market of the Bucharest Stock Exchange on the date of the AGM, 18 May 2021. The maximum purchase price per class B share shall at no times be higher than the higher of the price of the last independent trade and the highest current independent purchase bid on the Regulated Spot Market of the Bucharest Stock Exchange. The purchases will not exceed, on any trading day more than 25 % of the average daily volume of the shares on the Regulated Spot Market of the Bucharest Stock Exchange on which the purchase is carried out, as defined in article 3 para. (3) from Regulation (EU) 2016/1052 of 8 March 2016.

The Board of Directors intends to appoint an independent specialized trading / brokerage firm to execute any such buy-back.

6. Approval of award of stock options to executive and non-executive directors

The Board of Directors is authorized to decide upon the award stock options to acquire class B shares in the capital of the Company to executive and non-executive directors subject to the criteria of the Company’s Share Option Plan (the details of which can be found on the Company’s corporate website www.digi-communications.ro).

The voting results of the GSM, as well as other relevant information on the GSM and the related documents are available on the Company’s website at the section dedicated to the GSM:
https://www.digi-communications.ro/en/corporate/general-share-holders/digi-communications-n-v-gsm-2021

SOURCE: EuropaWire

Digi Communications N.V. amends its 2021 Financial Calendar

BUCHAREST, Romania, 6-May-2021 — /EPR FINANCIAL NEWS/ — DIGI COMMUNICATIONS NV would like to inform its investors and the market that an Amendment to the 2021 Financial Calendar, is available on the Company’s official website (Investor Relations Section/Financial Calendar):
https://www.digi-communications.ro/en/investor-relations/shares/financial-calendar

SOURCE: EuropaWire

Digi Communications N.V. to host Q1 2021 Financial Results conference call on 17 May 2021

BUCHAREST, Romania, 6-May-2021 — /EPR FINANCIAL NEWS/ — Digi Communications N.V. (“Digi” or the “Company”) announces that on 17 May 2021 at 14:00 UK time / 16:00 EEST (Romania local time) it will host a conference call to discuss the Q1 2021 Financial Results.

To participate please follow the instructions from our website: https://www.digi-communications.ro/en/investor-relations/shares/financial-calendar and pre-register for the call. The deadline for pre-registration is until 12:00 UK time / 14:00 EEST (Romania local time) on 17 May 2021.

A recording of the conference call will be available on our website for 30 days: www.digi-communications.ro

SOURCE: EuropaWire

Digi Communications N.V.’s 2021 Annual General Shareholders Meeting will be held on 18 May 2021

BUCHAREST, Romania, 6-Apr-2021 — /EPR FINANCIAL NEWS/ — Digi Communications N.V. (The Company) would like to inform the market and its investors that today, 6 April 2021, the Board of Directors of the Company convenes the general shareholders meeting (the “GSM”) of the Company (Digi Communications N.V.), to be held on Tuesday, 18 May 2021 at 14:00 p.m. CEST (15:00 p.m. EEST), at the offices of Freshfields Bruckhaus Deringer LLP (Amsterdam office), Strawinskylaan 10, 1077 XZ Amsterdam, The Netherlands.

The main topics for the GSM are the following:

-discussion and approval items on the 2020 Annual Report (including the annual report, the financial statements – consolidated and stand-alone – and the auditor report);
-approval of the distribution of a gross dividend of RON 0.75 per share; ex-date – 2 June 2021, the record date for the dividend – 3 June 2021, and the payment date on or around – 14 June 2021;
-release from liability of the members of the Board of Directors;
-remuneration report for 2020 (advisory, non-binding vote);
-appointment of the statutory auditor for the the financial year ending December 31, 2021;
-designation of the Board of Directors as the competent body to repurchase own Class B Shares;
-approval of award of stock options to executive and non-executive directors.

We kindly invite the market to visit the Company’s website at
http://www.digi-communications.ro/en/general-share-holders (for English readers) and at http://www.digi-communications.ro/ro/aga (for Romanian readers) to review the documentation package for the GSM.

The above-mentioned section from the Company’s website also contains the English and Romanian complete versions of the 2020 Annual Report, the 2020 Consolidated and Stand-alone Financial Statements of the Company, as well as the Independent Auditor’s Report.

The document named ‘Agenda and explanatory notes’ contains detailed descriptions regarding the items for the GSM.

Any shareholder interested in attending or voting at the GSM needs to follow the procedures set out in the articles of association of the Company (available at http://www.digi-communications.ro/en/corporate-governance) and on the ‘Convocation Notice’ available at http://www.digi-communications.ro/en/general-share-holders).

Also, the Company would like to announce that Digi Communications N.V. Group’s Annual Report for the year ended December 31, 2020 is available starting with April, 6 2021 also on the Company’s website (www.digi-communications.ro), under the section Investor Relations.

ANNUAL GENERAL MEETING OF DIGI COMMUNICATIONS N.V. (THE COMPANY) TO BE HELD ON TUESDAY, 18 MAY 2021, AT 14:00 PM CEST AT THE OFFICES OF FRESHFIELDS BRUCKHAUS DERINGER LLP (AMSTERDAM OFFICE), STRAWINSKYLAAN 10, 1077 XZ AMSTERDAM, THE NETHERLANDS

AGENDA

1. Opening
2. Annual Report 2020

a. Board report 2020 (discussion item)
b Dividend and Reservations Policy (discussion item)
c. Adoption of the 2020 Annual Accounts (voting item)
d. Distribution of dividend (voting item)
e. Release from liability of the members of Board of Directors (voting item)

3. Remuneration Report for 2020
Remuneration Report for 2020 (advisory, non-binding vote)
4. Appointment of Statutory Auditor
Proposal to appoint Ernst & Young Accountants, LLP, Netherlands as the statutory auditor of the Company for the financial year 2021 (voting item)
5. Designation of the Board of Directors as the competent body to repurchase own Class B Shares
Designation of the Board of Directors as the competent body to repurchase Class B Shares (voting item)
6. Approval of award of stock options to executive and non-executive directors. Authorize the Board of Directors to decide upon the award of stock options to executive and non – executive directors of the Company (voting item)

7. Close of Meeting

SOURCE: EuropaWire

Further amendment in Digi Communications N.V. 2021 Financial Calendar

BUCHAREST, Romania, 31-Mar-2021 — /EPR FINANCIAL NEWS/ — Digi Communications NV would like to announce the investors and the market that there has been an amendment regarding its 2021 Financial Calendar. Due to recent developments, the Company’s procedure for internal approval and audit of the different sections of the 2020 Annual Report had to be delayed.

The Company thus announces a new financial calendar, stipulating a new date for the publication of the 2020 Annual Report and a new date for the General Meeting of Shareholders available on the Company’s official website (Investor Relations Section/Financial Calendar), at the following link: https://www.digi-communications.ro/en/investor-relations/shares/financial-calendar

SOURCE: EuropaWire

Hungary: 4iG Plc. to acquire DIGI Távközlési Szolgáltató Ltd.

BUDAPEST, Hungary, 29-Mar-2021 — /EPR FINANCIAL NEWS/ — Digi Communications NV (The Company) would like to inform its investors and the market that on March 29, 2021 the Company’s Romanian subsidiary and 4iG Plc. (4iG Plc.) one of the leading companies of the Hungarian IT and ICT market, entered into a preliminary, non-binding agreement regarding the acquisition of DIGI Távközlési Szolgáltató Ltd. (Digi Hungary) and its subsidiaries, Invitel Ltd. and I TV Ltd. Pursuant to the understanding of the parties, 4iG would acquire a 100 percent stake in Hungary’s leading telecommunications and media service group. The acquisition is aimed to be completed by September 2021, subject to due diligence of Digi Hungary and its subsidiaries, the signing of a sale and purchase agreement, and the necessary competition authority approvals.

Digi Hungary is a leading telecommunications service provider in Hungary, with 23 years of experience and a broad service portfolio covering cable TV, fixed internet and data, mobile telecommunication services, fixed-line telephony and Direct To Home (DTH) services. It serves more than 1.1 million subscribers nationwide and has over 2.5 million Revenue Generating Units (RGUs) as of 31 December 2020.

In 2020, Group’s consolidated sales revenue in Hungary was HUF 70 billion (approx. EUR 200 million) and its adjusted EBITDA reached HUF 19 billion (approx. EUR 54 million).

4iG Plc. is one of the leading companies of the Hungarian IT and ICT market, plays a leading role in Hungary’s knowledge-based digital economy. 4iG has been present in the field of industry and industry-independent innovative technologies for more than 25 years.

SOURCE: EuropaWire

Changes in Digi Communications N.V. 2021 Financial Calendar

BUCHAREST, Romania, 10-Mar-2021 — /EPR FINANCIAL NEWS/ — DIGI COMMUNICATIONS N.V. would like to inform its investors and the market that an Amendment to the Financial Calendar for 2021 is available on the official website (Investor Relations Section/Financial Calendar): https://www.digi-communications.ro/en/investor-relations/shares/financial-calendar

SOURCE: EuropaWire

Neowintech è un marketplace finanziario costruito attorno a una filosofia di semplicità, velocità e convenienza

ROME, 26-Feb-2021 — /EPR FINANCIAL NEWS/ — Neowintech è un marketplace finanziario costruito attorno a una filosofia di semplicità, velocità e convenienza. Stabilendo partnership con diversi fornitori di servizi finanziari, è in grado di offrire l’accesso a una gamma completa di soluzioni per le molteplici e diverse fasi della vita delle persone.

Sotto un unico profilo digitale che può essere creato in meno di 5 minuti, gli utenti possono accedere a prodotti innovativi forniti da partner terzi, incluse soluzioni di investimento, piani pensionistici, mutui e fondi di investimento – con ulteriori servizi in arrivo in futuro.

Il risultato è un punto centrale della gestione delle finanze personali, solidamente costruito su una tecnologia sicura, a cui tutti possono accedere facilmente e completamente gratuito.

Essendo completamente digitale, è possibile accedere, gestire e migliorare ogni aspetto della propria vita finanziaria attraverso il proprio smartphone, senza bisogno di scartoffie o di recarsi a una sede fisica.

Selezionando attentamente i partner adatti, semplificando i processi e migliorando l’efficienza dall’inizio alla fine, Neowintech mira a portare più opportunità a più persone, democratizzando efficacemente l’accesso a strumenti e soluzioni che in precedenza erano riservati a un numero limitato di persone, oppure talmente complicati da lasciare la gestione finanziaria personale inutilmente sotto ottimizzata.

In linea con la sua filosofia, anche l’iscrizione è molto semplice e veloce. E’ sufficiente fornire un indirizzo email e alcune informazioni personali. Ciò include fornire documenti al fine di garantire la corretta identificazione del cliente, quindi tutti i requisiti i termini di documentazione devono essere letti attentamente.

Questa è una nuova era di possibilità finanziarie. Un maggiore accesso alle nuove opportunità è uno degli elementi fondamentali dell’Era dell’Informazione e non c’è motivo per cui la gestione del denaro debba esserne esclusa. Perché si tratta di qualcosa che dovrebbe essere nella mente di tutti. Rendere più facile per le persone farlo non è solo una preoccupazione aziendale per Neowintech, ma anche una missione in modo che più persone possano migliorare la propria situazione, indipendentemente da dove si trovano.

SOURCE: EuropaWire

Digi Communications N.V. subsidiary RCS & RDS S.A. signs a EUR 150M senior facility agreement with group of banks

BUCHAREST, Romania, 16-Dec-2020 — /EPR FINANCIAL NEWS/ — The Company (Digi Communications N.V.) would like to inform its investors and the market that, on 15 December 2020, RCS & RDS S.A. (the Company’s subsidiary in Romania – „RCS&RDS”), as borrower and original guarantor, DIGI Távközlési és Szolgáltató Korlátolt Felelősségű Társaság as original guarantor, INVITEL Távközlési Zrt as Original Guarantor, the Company, as original guarantor, DIGI Spain Telecom S.L.U., as original guarantor and Citigroup Europe plc, Dublin Romanian Branch, ING Bank N.V. Amsterdam, Bucharest Branch and Unicredit Bank S.A. as original lenders and ING Bank N.V. as the facility agent of the other Finance Parties have concluded a senior facility agreement consisting in (i) a term loan facility in a total aggregate amount representing the RON equivalent of EUR 100,000,000; (ii) a revolving credit facility in a total aggregate amount representing the RON equivalent of EUR 50,000,000, for a period equal to the period between signing and the third anniversary of the Senior Facilities Agreement, and also permits the establishment from time to time of incremental facilities to be made available in accordance with the terms and within the limits of the Senior Facilities Agreement.

The term loan facility under the Senior Facility Agreement is meant to be used for the purposes of refinancing the amounts made available under the Facilities Agreement dated 7 October 2016, while the revolving facility may be used for capital expenditure, investments, general corporate, and working capital purposes (including intra-group loans) of the Digi group.

For details regarding the reports, please access the official websites designated of Digi: www.digi-communications.ro (Investor Relations Section).

SOURCE: EuropaWire

Digi Communications N.V. published its Q3 2020 financial results


BUCHAREST, Romania, 13-Nov-2020 — /EPR FINANCIAL NEWS/ — Digi Communications N.V. (“Digi” or the “Company”) announces that Q3 2020 financial results are available on the Company’s website.

For details, please see: https://www.digi-communications.ro/en/investor-relations/shares/financial-results-shares

SOURCE: EuropaWire

Digi Communications N.V. to host its Q3 2020 financial results conference call on 13 Nov 2020

BUCHAREST, Romania, 6-Nov-2020 — /EPR FINANCIAL NEWS/ — Digi Communications N.V. (“Digi” or the “Company”) announces that on 13 November 2020 at 14:00 UK time / 16:00 EEST (Romania local time) it will host a conference call to discuss the Q3 2020 financial results.

To participate please follow the instructions from our website: https://www.digi-communications.ro/en/investor-relations/shares/financial-calendar and pre-register for the call. The deadline for pre-registration is until 12:00 UK time/ 14:00 EEST (Romania local time) on 13 November 2020.

A recording of the conference call will be available on our website for 30 days: www.digi-communications.ro

SOURCE: EuropaWire

Digi Communications NV: Digi Spain extends Spanish MVNO Agreement

BUCHAREST, Romania, 9-Oct-2020 — /EPR FINANCIAL NEWS/ — DIGI COMMUNICATIONS N.V.  (BVB: DIGI) (The Company) would like to inform its investors and the market that on October, 8 the Company’s subsidiary from Spain (Digi Spain) and Telefonica Moviles España, S.A. (TME) agreed to extend the duration of the agreement regarding Digi Spain’s access to TME’s radio spectrum and mobile communication network and infrastructure (“The Spanish MVNO Agreement”) until September 30, 2026.

About Digi Communications NV

Digi is the parent holding company of RCS & RDS, a leading provider of pay TV and telecommunications services in Romania and Hungary. In addition, RCS & RDS provides mobile services as an MVNO to the large Romanian communities living in Spain and Italy, and in Spain it also provides fixed internet and data and fixed-line telephony services.

SOURCE: EuropaWire

Syniti’s CEO TO CEO Podcast to feature in-depth, conversational interviews with leading CEOs

BOSTON, MA, U.S.A., 18-Sep-2020 — /EPR FINANCIAL NEWS/ — Syniti, a leader in enterprise data management, announced today the launch of a global weekly podcast series, the “CEO TO CEO Podcast.” This new podcast focuses on delivering exclusive insights for complex, C-suite challenges, including mergers, acquisitions and divestitures (MA&D). The series will feature interviews with some of the world’s top CEOs and thought leaders, many of whom led history-making transactions.

The podcast will launch Wednesday, September 23, 2020, featuring in-depth, conversational interviews with leaders like:

  • Joe Tucci, former Chairman of the Board of Directors, President and Chief Executive Officer of EMC Corporation, now Dell EMC, and Chairman and Co-Founder of Bridge Growth Partners
  • Paula Tolliver, former Corporate Vice President and CIO and CDO of Intel Corporation and former Corporate Vice President of Business Services and CIO at the Dow Chemical Company, and
  • Josh Moffitt, Founder and President of Silverton Mortgage

“History has proven that during times of rapid changes and unknowns, such as the 2008 financial crisis, organizations look to MA&D to both protect and grow their business,” said Kevin Campbell, CEO of Syniti and host of the podcast series. “We are pleased to launch this new podcast series to help companies face these challenges with an insider’s perspective, and help business become more resilient through M&A&D.”

According to EY’s Global Capital Confidence Barometer, in today’s economic environment, more than half of executives globally are opting to transform through transactions and plan an acquisition this year. McKinsey & Company also reported that companies that regularly and systematically pursue moderately sized M&A deliver better shareholder returns than companies that don’t.

“The complexities of MA&D are daunting every time,” said Chris Knerr, Syniti Chief Data Officer. “Data is increasingly essential to delivering successful transactions. We are bringing together leaders who have successfully led global transformations to dive deeper into the power of data to accelerate time-to-value and greatly reduce execution risk. With more than 24 years of business expertise in data and end-to-end conversion technology, we’ve seen firsthand how data can increase transparency, drive business value capture, and support integration strategies that speed and smooth business transactions of all sizes.”

According to Edison Research, podcasts reach over 100 million Americans each month. “Podcasts are available where the listener is, whether at home, commuting, in-between business meetings, after dinner or with early morning coffee,” said Rex Ahlstrom, Syniti Chief Strategy & Technology Officer. “By leveraging this medium, we can further help business leaders access critical insights from top M&A&D practitioners wherever they are – at home, in the office, or on-the-go.”

To learn more or to listen to Syniti’s CEO TO CEO Podcast please click the following links to subscribe – Apple PodcastSpotify and iHeartRadio.

To learn how Syniti’s expertise and end-to-end solutions master the complexities of M&A&D, please visit https://www.syniti.com/mergersandacquisitions.

SOURCE: EuropaWire

PixelPlex Announced a Successful Cryptocurrency Wallet Development

New York City, NY, 2020-Sep-15 — /EPR FINANCIAL NEWS/ — A custom software development company PixelPlex informed about completing their work on Qtum Wallet – a cryptocurrency mobile wallet for Android and iOS. The wallet is able to execute multi-currency transactions and has ERC20 token support, smart contact builder, and advanced security features.

The Qtum development goals

The company shared the details about their new project – Qtum mobile wallet for Android and IOS. Their goal was to build a secure user-friendly wallet for the Qtum blockchain platform with all necessary capabilities such as Touch ID, 2FA protection, and transaction templates. UI/UX design for Android and iOS was used for simple navigation. High security was provided by Shamir’s secret encryption and iOS Secure Enclave & Android KeyStore support.

The developers commented on how exactly they managed to achieve such high security in their cryptocurrency wallet development. With the implemented client-side encryption, the Qtum mobile wallet encodes private keys and all transaction data on the client’s mobile device. The user account, private keys, and all transactions are secured before any information reaches a third-party server. The wallet app is also backed with 2-factor authentication, PIN protection, an auto-lock feature, and Touch ID / Face ID biometric authentication.

Important features for performing crypto operations

Mobile wallet development was a complex task, and in the end, Qtum wallet included all the essential features for performing crypto transactions. The wallet is integrated with the top exchanges for crypto trading, works with multiple currencies, includes support for cold-storage account recovery, QR codes leading to a payment widget, and has NFC support to streamline payments. The client will also get notifications about completed transactions and exchange rate changes.

As a result, Qtum wallet from PixelPlex became an easy-to-use, but yet a powerful tool for multicurrency management and tamper-proof peer-to-peer transactions.

Via EPR Network
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Digi Communications NV 1H-2020 Financial Results now available

BUCHAREST, Romania, 14-Aug-2020 — /EPR FINANCIAL NEWS/ — Digi Communications N.V. (“Digi” or the “Company”) announces that H1 2020 financial results are available on the Company’s website.

For details, please see:

https://www.digi-communications.ro/en/investor-relations/shares/financial-results-shares

SOURCE: EuropaWire

Bitcoin Proof of Stake – BitcoinPoS – BPS

Dallas, TX, USA, 2020-Aug-04 — /EPR FINANCIAL NEWS/ — The Bitcoin core network today runs on the proof of work algorithm. It leaves the network open to the 51% attack, also it is costly to mine and harmful for the environment. The PoW mechanism has also been a hindrance to scalability.

However, numerous innovations are trying to deal with the issues, facing the Bitcoin network while preserving certain unique aspects of the original concept. For instance, the 21 million tokens supply along with the proven code-base that has been improved over a decade is worth preserving.

The Bitcoin Proof of Stake coin reserves the strongest aspect of the Bitcoin network with a flexible proof of stake algorithm. It presents a new paradigm in the utility of crypto. The Bitcoin PoS coin preserves everything that Bitcoin has while bringing new development to the blockchain technology.

Driving Mass Adoption
When Satoshi Nakamoto launched Bitcoin about a decade ago, his goal was mass adoption of crypto that would replace the current financial system. However, that goal has not been achieved. Many crypto projects in existence today have numerous issues that prevent mass adoption.

The Bitcoin PoS project aims to advance Satoshi Nakamoto’s vision of a decentralized financial network that is independent of centralized control. Bitcoin Proof of Stake is designed to be scalable and easy to use. The goal is to give access of banking services to billions of people globally. To achieve this, Bitcoin PoS aims to be a coin for ordinary retail payments.

About the Proof of Stake Mechanism
The Bitcoin network is secured using a proof of work mechanism. However, the PoW mechanism is energy-intensive and requires expensive mining rigs to secure. The proof of stake mechanism wants to replace how consensus is achieved. Instead of using PoW, the staker that generates a block has to provide proof that they have access to given number of coins.

Generating the block will entail the sending of coins to oneself, which proves ownership. The amount of coins needed for staking is determined via a difficulty adjustment model that is similar to the PoW mechanism. The goal is to ensure an approximate constant block time. Just like PoW, the block generation process will result in rewards via a transaction fee and supply model.

Bitcoin PoS Deals with the Bitcoin Centralization Problems
The Bitcoin network appears perfect to its proponents. However, it has a problem with centralization. The high cost of power and the expensive mining rigs mean that only a few select companies can afford to mine the BTC network.

The result is that only those with access to cheap power can secure the network. Today, most of those miners are located in China, which has led to a high concentration of mining power in one region. In effect, Chinese miners control the Bitcoin network. It was not the vision of decentralization that Satoshi Nakamoto had in mind.

To make the issue worse, the places where the cost of power is low also have highly authoritarian systems of government. Another issue is that in nations where the cost of power is high do not recognize BTC mining as a business. Thus, miners do not get access to subsidized power. It has led to the proliferation of mining cartels with some companies controlling as much as 5% of the mining power.

For retail miners, the only solution is to join mining pools, which effectively control all of the mining power of BTC. As a result, BTC is highly centralized in the current setup and it will only continue being centralized in the future.

Bitcoin PoS Solves the Issue
One of the issues that Bitcoin Proof of Stake solves is the cost of power. The proof of stake mechanism cuts the cost of power by 99%. As a result, it ensures that it will difficult from any entity to monopolize the network. The result is that Bitcoin PoS is achieving the vision of Satoshi Nakamoto.

The Current State of Bitcoin PoS
While Bitcoin Proof of Stake uses a proof of stake mechanism, the Bitcoin PoS still keeps up with upgrades to the Bitcoin network. Any upgrade made by the developers are added to the Bitcoin PoS blockchain. Today, the coin is tradable on crypto exchanges; it has a market price of USD 89.07 according to data on CoinMarketCap. It has a market cap of $308,995,384 and it is ranked at 40 by market cap in the world but actual raking on coinmarketcap.com is 205 because of their raking systems.

Via EPR Network
More Financial press releases

TABS Score™ adds TABS | EU Assessment to their Diligence-as-a-Service (#DaaS) platform

MOUNTAIN VIEW, Calif., United States, 20-Jul-2020 — /EPR FINANCIAL NEWS/ — TABS Score™ has just deployed their newest addition to the suite of products available on their Diligence-as-a-Service (DaaS) platform – TABS | EU Assessment, (available in both Lite and Suite versions). The rollout was strategically timed to complement the rapidly increasing requests by TABS’ existing European (and those that focus on Europe as a market) customers, as there are quite a few differences in terms of rules, processes, and regulations that European ventures face differently than US-based startups. The new model entails the addition of several nested decision trees to augment the already-powerful nucleus of the Machine Learning algorithm, as well as a new ESG, regulatory, and analytics sections to properly address the differences between American and European resources, financing, policies, accounting practices and more. The EU version of the Assessment will mirror the US Assessment in functionality and output but will provide comparative analytics between them and their counterparts on the global market and allow companies to complete the Assessment in a language of their preference.

Mayflower Ventures, a micro-fund being formed by Wall Street Veteran Marshall Sterman, has already made the decision to integrate a Diligence-as-a-Service as part of their investment process which pitching to investors for the fund.

“Both the committed and prospective LPs love the fact that instead of asking for higher management fees to hire an analyst team in house, we are making smart lateral decisions to use a powerful software like TABS to strengthen and accompany our own internal diligence processes,” Sterman says.

As TABS expands to Europe and subsequently, their footprint across the globe, they will soon be modifying the assessment to meet the needs of ventures in other venture hotspots as well, the APAC region being the first. The comprehensiveness and ever-evolving nature of the TABS Score and its customizable solutions has made the Fin-Tech company one of the most sought-after Diligence-as-a-Service providers, with accolades coming from founders, investors, accelerators, and consultants (legal, accounting, fundraising, etc.)

TABS has already gained significant traction in the US markets, partially attributable to the Covid-19 virus and the cancellations of physical meetings. Engineered by successful serial entrepreneurs and veteran seed investors, the TABS Suite, which includes the TABS Score & Valuation assessment, has helped investors assess the viability of a business, significantly augmenting their diligence process in a fraction of the time and cost. Early-stage companies on the other hand increase the probability of attracting the attention of a potential investor by proactively going through the process.

SOURCE: EuropaWire

ANCOM authorized RCS & RDS S.A. to apply a surcharge for certain roaming services in the EEA starting 1 July 2020

(PRESS RELEASE) BUCHAREST, Romania, 29-Jun-2020 — /EuropaWire/ — We would like to inform the market and our investors that the National Authority for Management and Regulation of Communications in Romania (ANCOM) has authorized RCS & RDS S.A., the Company’s subsidiary in Romania (“RCS&RDS”) to continue to apply a surcharge for certain mobile telephony roaming services supplied to its customers traveling in the European Economic Area (EEA), therefore including the European Union.

By decision received on 29 June 2020, in order to allow RCS&RDS to continue to cover the costs incurred for the supply of roaming services and to continue to apply the national tariffs in Romania, ANCOM has authorized RCS&RDS’ request to apply a surcharge, on top of the national tariffs, for certain roaming services supplied to its own customers traveling in the EEA, but without going above the maximal following values:

  • 0.0154 Euro/minute (excluding VAT), for the calls made by its clients,
  • 0.0079 Euro/minute (excluding VAT), for the calls received by its clients (this value might vary in accordance with the changes brought by the European legislation),
  • 1.41 Euro/GB (0.00141 Euro/MB), excluding VAT.

RCS&RDS will apply the roaming surcharges starting from the first unit of consumption supplied to its own customers traveling in the EEA.

The renewed authorization issued by ANCOM will apply for a maximum period of 12 months starting 1 July 2020.

For information regarding the initial approval in this respect granted to RCS&RDS in 2017, we invite the market and our investors to refer to the current report issued by the Company on 30 June 2017 (http://www.digi-communications.ro/en/investor-relations/shares/current-reports/digi-current-report-30-06-2017).

For details regarding the reports, please access the official websites designated of Digi: www.digi-communications.ro (Investor Relations Section).

SOURCE: EuropaWire