Day: March 24, 2023

The Governments of Ethiopia and The Netherlands endorse the Nedamco Africa Water Management Initiative

Left to Right: H.E. Dr. Eng. Habtamu Itefa Geleta, Minister for the Ministry of Water and Energy of the Federal Democratic Republic of Ethiopia; Mrs. Kitty van der Heijden, Director-General, International Cooperation at Ministry of Foreign Affairs of the Kingdom of the Netherlands; Mr. Michael Kogeler – Chief Executive Officer, Nedamco Africa.

“In a joint press statement today, the Government of the Federal Democratic Republic of Ethiopia and the Kingdom of the Netherlands, along with their partners, endorsed the launch by Nedamco Africa of an innovative initiative to implement Water Management through a fully digital approach. This groundbreaking endeavor has the potential to significantly improve the water quality, facilitate direct access, and increase the availability of water volumes for approximately 10 million individuals residing in the metropolitan area of Addis Ababa.”

NEW YORK, March 24, 2023 (GLOBE NEWSWIRE) — Today at the UN23 Water Conference in New York, H.E. Dr. Eng. Habtamu Itefa Geleta, Minister for the Ministry of Water and Energy of the Federal Democratic Republic of Ethiopia, and Kitty van der Heijden, Director-General International Cooperation at Ministry of Foreign Affairs of the Kingdom of the Netherlands, endorsed the launch of the Ethiopian SDG6 Water Management initiative. The initiative has the aim to improve the water needs of millions of people and will be based on digitally verifiable outcomes focused on the reduction of non-revenue water, increase of water quality, increased access to water, and higher availability of water. In a “first-ever”, leveraging the latest available technologies, the solution will measure, report, and verify outcomes of Water Management, starting in Addis Ababa, a city of 10 million inhabitants, starting in a sub-set of the city, using Digital Twins in a fully digital and transparent manner. This project is a collaboration of the Ethiopian local and federal government and multiple innovators in the profit and non-profit sectors like Microsoft, Bentley Systems, Deltares and VEI. The launch is endorsed by the Dutch Government. The SDG6 Water Management initiative has the potential to be rolled out to over nineteen other countries in fifty-five cities, improving the water needs of half a billion people.

Changing lives – African water challenges – In this era of climate disruption, African cities are grappling with a plethora of water-related challenges that are impacting the lives of their residents. The lack of infrastructure and investment is one of the main obstacles, resulting in restricted access to clean and safe water for many people. In addition, water pollution and contamination are prevalent, especially in informal settlements where residents have limited means of obtaining clean water. Furthermore, climate change and rising water demand are putting additional pressure on already scarce water resources, compounding the existing water challenges in African cities. These challenges must be addressed with innovative and sustainable solutions that improve access to safe water and ensure the long-term sustainability of water resources.

“We Africans are highly affected by the carbon emission released by the developed nations, and we are way behind to achieve the SDGs with the current pace unless we deploy new technologies and innovations. By synergizing the vision and mission of the two most committed and robust partners on the planet, along with the latest digital technologies available for water management at scale, we have a unique opportunity and responsibility to transform the daily lives of hundreds of millions of people in Africa, who are suffering a lot in search of clean water. Therefore, call to action for Africans to join for cooperation and integration to transform the lives of our citizens,” stated H.E. Dr. Eng. Habtamu Itefa Geleta, Minister for the Ministry of Water and Energy of the Federal Democratic Republic of Ethiopia.

True impact through results-based financing – The parties are adopting a results-based financing approach. Through collaboration, knowledge sharing, and the use of innovative technologies and best practices, we aim to unite the world around water and pool global resources and expertise. The innovative solution, jointly developed by Dutch and international water eco-system players will help us overcome the water challenges that we face worldwide. The SDG6 Water Management initiative will ensure that partnerships between governments, businesses, and civil society are forged, leading to sustainable and equitable use of water that benefits all.

“Water management is at the heart of our nation’s identity. We have been facing the challenges of water for centuries, and through collaboration and innovation, we have found ways to turn these challenges into opportunities. In the Netherlands, I am proud to say that we have a long history of working together to manage our water resources. From our world-renowned systems of dykes and pumps, to our innovative approaches to water treatment and reuse, we have shown that it is possible to turn the challenges of water into opportunities for progress and prosperity. By working together, the world can do the same. Together, we can build a future where everyone has access to the clean water they need to thrive, where our rivers and lakes are protected from pollution and overuse, and where we are able to adapt to the changing demands of a rapidly changing world,” said Kitty van der Heijden, Director-General International Cooperation at Ministry of Foreign Affairs of the Netherlands.

Technology for good – Digital twin technology has the potential to significantly enhance water management in Africa, leading to better outcomes for communities in need. By creating a virtual replica of physical assets, such as water distribution systems, digital twins can be used to analyze, monitor, and optimize water usage and distribution in real-time. This, in turn, can lead to more efficient and effective management of water resources, reducing waste and improving water security. Digital twin technology can also help detect and prevent water leaks and other issues, thereby enhancing the access to clean water for communities, which is especially critical in areas with water scarcity. Additionally, digital twin technology can aid in the development of new water infrastructure projects, such as reservoirs, by simulating and assessing these projects in a virtual environment. This approach can provide valuable insights into the potential impact and effectiveness of these projects, reducing the risk of failure and improving outcomes.

Anke den Ouden, General Manager of Microsoft Netherlands, stated, “The introduction of digital twin technology in water management has the potential to significantly improve access to clean water and water security in Africa. It can optimize water usage and distribution, leading to a better quality of life for people in the region. We at Microsoft are proud to be a part of this initiative.”

Impact Investments for a better world – Nedamco Africa is a company that invests in, and is fully committed to making a positive impact on Africa and the global environment. They recognize the crucial role that water management plays in the sustainability of the continent and are focused on finding innovative solutions to the challenges facing Africa’s water supply. Nedamco Africa’s investment strategy prioritizes the measurement of impact over financial returns, emphasizing sustainable solutions that benefit the environment and communities in Africa. They invest in cutting-edge technologies, such as cloud skills, digital twins, and climate-friendly solutions to create a lasting positive impact. In water management, Nedamco Africa is working to improve access to safe drinking water, reduce water waste, and promote water conservation. Nedamco Africa is a driving force for impact investments that contribute to creating a better world for everyone.

Michael Kogeler, CEO of Nedamco Africa, expressed, “With a complete commitment to Africa and the planet, Nedamco Africa is at the forefront of impact investments that prioritize sustainability and positive impact. Our emphasis on innovative technologies and measurement of the impact of our investments is driving positive change and creating a better future for Africa and the world.”

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b5195295-2181-4470-8e4c-80fb8959bc4e

PR Contact: Michael Kogeler
michael.kogeler@nedamcoafrica.com
+971 559661304

GlobeNewswire Distribution ID 1000800016

March 24, 2023 

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA) today announced it has convened the Annual General Meeting of Shareholders (AGM) 2023 and published the agenda with explanatory notes.

The agenda of the AGM 2023 includes the recommendation of the Supervisory Board, endorsed by Philips’ Chief Executive Officer to the shareholders to re-appoint Abhijit Bhattacharya (Indian, 1961) as member of the Board of Management for an additional period of two years, with effect from May 9, 2023. Mr Bhattacharya has held the positions of Chief Financial Officer and member of the Board of Management since 2015.

Additionally, it will be proposed to the shareholders to re-appoint David Pyott (British/American, 1953) and Liz Doherty (British/Irish, 1957) as members of the Supervisory Board with effect from May 9, 2023. Mr Pyott and Ms Doherty have been members of the Supervisory Board since 2015 and 2019, respectively.

The agenda further includes the proposals to re-appoint EY as the company’s external auditor for a term of one year starting January 1, 2024, and to appoint PricewaterhouseCoopers as the company’s new external auditor for a term of four years starting January 1, 2025.

Finally, the agenda also includes a number of recurring items, such as the 2022 Remuneration Report as included in the Annual Report 2022, and the proposals to adopt the company’s financial statements and dividend.

The AGM will be held at the Hotel Okura Amsterdam, Ferdinand Bolstraat 333, Amsterdam on Tuesday, May 9, 2023, beginning at 14.00 CET. The complete agenda with explanatory notes, the Annual Report 2022 (which was published on February 21, 2023), the binding nominations, as well as all other documents related to the AGM have been published here.

For further information, please contact:

Ben Zwirs
Philips Global Press Office
Tel.: +31 615213446
E-mail: ben.zwirs@philips.com

Derya Guzel
Philips Investor Relations
Tel.: +31 20 59 77055
E-mail: derya.guzel@philips.com

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2022 sales of EUR 17.8 billion and employs approximately 77,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Forward-looking statements
This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

Attachments

• Liz Doherty
• David Pyott
• Abhijit Bhattacharya

GlobeNewswire Distribution ID 1000799962

INSIDE INFORMATION
REGULATED INFORMATION

Nyxoah Announces a $15 Million Private Placement Financing

Mont-Saint-Guibert, Belgium – March 23, 2023, 9:05pm CET / 4:05pm ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today announced a €13.35 million private placement financing from the sale of 2,047,544 new ordinary shares at a price per share of €6.52 (approximately U.S. $7.10 at current exchange rates), the closing price on Euronext Brussels on March 23, 2023. Gross proceeds total €13.35 million (approximately U.S. $15 million at current exchange rates) and will be used for general corporate purposes. The closing is expected to occur on or about March 30, 2023, subject to customary closing conditions.

The private placement financing includes historical Nyxoah shareholders, notably ResMed and Robert Taub, Nyxoah’s Founder and Chairman.

The ordinary shares are being sold in a private placement and have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio® system received its European CE Mark in 2019. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company is currently conducting the DREAM IDE pivotal study for FDA and U.S. commercialization approval.

For more information, please visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

ADDITIONAL INFORMATION

The following information is provided pursuant to Article 7:97 of the Belgian Companies and Associations Code. The new shares were offered pursuant to a private placement. The investors that purchase the shares include, among others, (either directly or through entities controlled by them) Robert Taub, who is the chairman of the board of directors, and Jürgen Hambrecht, who is an independent director. Together, those two investors purchase new shares for EUR 5.6 million in gross proceeds at an issue price equal to the closing price on Euronext Brussels on March 23, 2023.

As Robert Taub and Jürgen Hambrecht qualify as related parties of the Company, the board of directors applied the related parties procedure of article 7:97 of the Belgian Companies and Associations Code in connection with the participation of the aforementioned directors to the private placement. Within the context of the aforementioned procedure, prior to resolving on the private placement, a committee of three independent directors of the Company (the “Committee”) issued an advice to the board of directors in which the Committee assessed the participation of the two aforementioned investors in the private placement. In its advice to the board of directors, the Committee concluded the following: “Based on the information provided, the Committee considers that the proposed Transaction is in line with the strategy pursued by the Company, will be done on market terms, and is unlikely to lead to disadvantages for the Company and its shareholders (in terms of dilution) that are not sufficiently compensated by the advantages that the Transaction offers the Company”.

The Company’s board of directors approved the principle of the private placement and did not deviate from the Committee’s advice. The Company’s statutory auditor’s assessment of the Committee’s advice and the minutes of the meeting of the Company’s board of directors, is as follows: “Based on our limited review, performed in accordance with ISRE 2410 “Review of interim financial information performed by the independent auditor of the entity” and the applicable standards of the “Institut des Réviseurs d’Entreprises/Instituut der Bedrijfsrevisoren“, nothing has come to our attention that causes us to believe that the financial and accounting data contained in the minutes of the board of directors’ meeting of March 23, 2023 and in the report of the committee of independent directors in accordance with article 7: 97 of the Companies and Associations Code would contain material inconsistencies with the information available to us in the course of our engagement. However, we do not express an opinion on the value of the transaction or on the appropriateness of the decision of the board of directors“.

IMPORTANT INFORMATION

THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN ANY JURISDICTION WHERE TO DO SO WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT IS FOR GENERAL INFORMATION ONLY AND DOES NOT FORM PART OF ANY OFFER TO SELL OR PURCHASE, OR THE SOLICITATION OF ANY OFFER TO SELL OR PURCHASE, ANY SECURITIES. THE DISTRIBUTION OF THIS ANNOUNCEMENT AND THE OFFER, SUBSCRIPTION, SALE AND PURCHASE OF SECURITIES DESCRIBED IN THIS ANNOUNCEMENT IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW. ANY PERSONS READING THIS ANNOUNCEMENT SHOULD INFORM THEMSELVES OF AND OBSERVE ANY SUCH RESTRICTIONS.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. Such forward-looking statements may be identified by words such as “expects,” “potential,” “could,” or similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements include express or implied statements relating to, among other things, Nyxoah’s current expectations regarding the Genio® system; planned and ongoing clinical studies of the Genio® system; the potential advantages of the Genio® system; Nyxoah’s goals with respect to the development, regulatory pathway and potential use of the Genio® system; the utility of clinical data in potentially obtaining FDA approval of the Genio® system; the Company’s results of operations, financial condition, liquidity, performance, prospects, growth and strategies; and statements relating to the private placement, including the expected closing, the anticipated proceeds from the private placement and the use thereof. These statements are neither promises nor guarantees and are subject to a variety of risks and uncertainties, many of which are beyond Nyxoah’s control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. In particular, these risks and uncertainties include, without limitation, risks relating to market conditions and the Company’s inability, or the inability of the investors, to satisfy the conditions for the closing in the private placement. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. Other risks and uncertainties faced by Nyxoah include those identified under the heading “Risk Factors” in Nyxoah’s most recent Annual Report on Form 20-F filed with the SEC, as well as subsequent filings and reports filed with the SEC. The forward-looking statements contained in this press release reflect Nyxoah’s views as of the date hereof, and Nyxoah does not assume and specifically disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Contacts:
Nyxoah
David DeMartino, Chief Strategy Officer
david.demartino@nyxoah.com
+1 310 310 1313

Attachment

• ENGLISH_PIPE Press Release_FINAL

GlobeNewswire Distribution ID 1000799916