Core Points - Casino Group is implementing the "Renouveau 2030" plan to strengthen its financial structure and adapt to market conditions, with a completion target by the end of Q2 2026 [2][4][8] - France Retail Holdings (FRH), the majority shareholder, is prepared to guarantee a €300 million capital increase, contingent on successful negotiations with creditors [3][23] - The Group aims to achieve a net leverage ratio of less than 1.7x by 2029 and reduce the nominal value of Term Loan B to €800 million [9][17] Financial Objectives - The financial objectives include achieving a target net leverage ratio of less than 1.7x by 2029, reducing Term Loan B to €800 million, and decreasing the average interest rate [9][17] - The Group anticipates additional savings of over €150 million from 2029 to 2030 and cumulative net capital expenditures of €1.7 billion from 2025 to 2030 [10][11] Operational Objectives - Casino Group's operational objectives focus on enhancing its market presence in daily food shopping, quick meal solutions, and new everyday services [11] - Specific plans include refurbishing the Monoprix store network, expanding the Franprix Oxygène concept, and launching new store designs for Casino brands [16][17] Liquidity and Financing - The total liquidity needs are estimated at approximately €500 million, which will be addressed through a mix of equity injection and optimization of operational financing lines [23] - Key measures under consideration include reducing financial interest charges and extending the maturity of all Group financing [23][24]

Core Points - Jyske Bank has initiated a share repurchase program valued at up to DKK 2.25 billion, running from February 26, 2025, to January 30, 2026 [1] - The program is compliant with the EU Market Abuse Regulation and Safe Harbour Rules [1] Summary of Transactions - As of the latest announcement, Jyske Bank has repurchased a total of 2,689,981 shares at an average price of DKK 638.70, totaling DKK 1,718,085,924 [2] - The accumulated shares prior to the latest transactions were 2,615,093 at an average price of DKK 635.06, amounting to DKK 1,660,732,737 [2] - Recent transactions include purchases on November 17 to 21, 2025, with individual transactions ranging from 14,891 to 15,000 shares at average prices between DKK 759.04 and DKK 777.48 [2]

Core Points - DXS International plc is scheduled to hold its Annual General Meeting on December 18, 2025, at 11:30 AM [2] - Shareholders can access the Notice of Annual General Meeting, AGM Letter, and the Annual Report for the year ended April 30, 2025, on the company's website [3] - DXS International provides healthcare information and digital clinical decision support systems, aiming to improve healthcare outcomes and contribute to NHS efficiency savings [4]

Core Insights - ING Group has successfully completed two significant risk transfer transactions, marking its first foray into this area for Wholesale Banking, with a total notional exposure of €10.5 billion [1][2] - These transactions are expected to reduce ING's risk-weighted assets by €3.4 billion, positively impacting the CET1 ratio by +14 basis points for Q3 2025 [2] Group 1: Transaction Details - The completed risk transfer transactions provide first-loss protection on diversified portfolios of corporate loans [1] - ING aims to strategically extend the use of risk transfer transactions across Retail and additional Wholesale Banking portfolios in the coming years [2] Group 2: Management Commentary - Andrew Bester, a member of ING's Management Board Banking, expressed pride in the successful execution of these transactions, highlighting the teamwork and partnerships with institutional investors that made it possible [3] - The transactions are seen as a commitment to support client needs and contribute to European economic growth [3]

Core Insights - STMicroelectronics has launched a new GaN (gallium-nitride) integrated circuit platform aimed at enhancing energy efficiency and performance in motion control applications for home appliances and industrial drives [1][4]. Product Features - The new GaNSPIN system-in-package platform introduces features that optimize system performance and reliability, enabling appliances to achieve higher rotational speeds with smaller, lower-cost control modules [4]. - The initial products in this family, GANSPIN611 and GANSPIN612, can power motors up to 400 Watts, suitable for various applications including compressors, pumps, and fans [4]. - The devices are designed with pin compatibility to ensure easy scalability in designs [4]. Technical Specifications - The GaNSPIN system-in-package includes advanced driver controls that minimize electromagnetic noise and stress on motor windings, with a nominal slew rate of 10V/ns to comply with EMC regulations [6]. - The GaN transistors feature low RDS(on) values of 138mΩ for GANSPIN611 and 270mΩ for GANSPIN612, which reduces power dissipation and allows operation without heatsinks in many applications [7]. - The platform supports a wide input voltage range and includes various protection features such as undervoltage lockout, overvoltage, and thermal protection [11]. Market Application - The GaN technology is now applicable to motor drives in products like washing machines, hairdryers, and power tools, enhancing energy efficiency to meet eco-design norms [3]. - Visitors to the SPS - Smart Production Solutions 2025 event can see the GaNSPIN motor controllers at ST's booth, indicating the company's active engagement in showcasing its innovations [5].

Core Points - Hepsor AS successfully completed its first bond offering under a 20-million-euro bond program, approved by the Estonian Financial Supervision Authority [1][2] - The bond issued has a nominal value of 1,000 euros, a fixed annual interest rate of 9.50%, and matures on 26 November 2028 [2] - The offering was oversubscribed by 1.4 times, with total subscriptions amounting to 8.5 million euros from 1,079 investors [3] Offering Details - Hepsor offered up to 6,000 bonds, with the option to increase by 2,000 bonds in case of oversubscription [2] - The distribution of subscriptions was 72.8% from Estonia, 24.6% from Latvia, and 2.6% from Lithuania [3] - The total volume of the offering was increased to 8 million euros due to oversubscription [3] Investor Insights - The management expressed gratitude to investors for their trust and support in Hepsor's growth objectives [4] - Strong investor confidence was noted, particularly from Latvian investors who subscribed for over 2 million euros [4] - The bond issuance reflects a positive perception of Hepsor as a developer of high-quality homes in Riga [4] Bond Trading and Tax Benefits - Bonds will be transferred to investors' accounts on 26 November 2025, with trading commencing on Nasdaq Tallinn Stock Exchange on 27 November 2025 [5] - Estonian residents can defer income tax on interest from the bonds by submitting an application to the issuer [6] Allocation Principles - Preference in bond allocation was given to existing Hepsor shareholders, employees, and institutional investors, who received 100% of their subscribed amount [7] - Other investors received 87.5% of their subscribed amount, with a minimum allocation of 10 bonds [7] Company Overview - Hepsor AS is a developer of residential and commercial real estate, operating in Estonia, Latvia, and Canada [8] - The company has developed 2,003 homes and nearly 44,787 square meters of commercial space over 14 years [8] - Hepsor is recognized for implementing innovative engineering solutions for energy-efficient buildings [8]

Core Insights - NB Private Equity Partners (NBPE) reported a monthly NAV estimate as of 31 October 2025, with a total NAV of $1.3 billion [1] - The company maintains its existing dividend policy targeting an annualized yield on NAV of 3.0% or greater [4] NAV Performance - NAV total return (TR) for the year-to-date is 3.4%, with a one-year return of 4.3% and a ten-year return of 163.3% [4] - The MSCI World TR outperformed NBPE with a year-to-date return of 20.2% and a ten-year return of 220.9% [4] - Share price TR showed a slight decline of 0.2% for the month, but a significant ten-year return of 215.9% [4] Portfolio Update - NAV per share was reported at $27.52, with a total return of 0.3% for the month [7] - Approximately 50% of valuation information was based on Q3 private company data, with private investments appreciating by 0.8% on a constant currency basis [6][8] - The company repurchased approximately 658,000 shares in October 2025, resulting in an NAV per share accretion of ~$0.11 [7][14] Liquidity and Capital Allocation - As of 31 October 2025, NBPE had $277 million in available liquidity, including $67 million in cash and liquid investments [11] - The company plans to increase allocation to new investments by at least $100 million over the next three to six months [7] - An acceleration of the $120 million three-year share buyback program reflects the Board's confidence in the portfolio [7] Realisations and Investment Activity - Year-to-date, the company announced $165 million in realisations with an aggregate uplift of 17% to carrying value [7] - In October alone, $64 million of realisations were reported [9] - The company has deployed $23 million year-to-date into new and follow-on investments, with a strong pipeline of opportunities [10][13] Portfolio Composition - As of 31 October 2025, 79% of the portfolio is in North America and 21% in Europe [16] - The portfolio is diversified across various industries, with 21% in Tech, Media & Telecom, 20% in Consumer/E-commerce, and 19% in Industrials [16] - The majority of investments are in private direct investments, with 78.1% of the total portfolio value attributed to the top 30 investments [15]

Core Viewpoint - Sampo plc has initiated a share buyback program with a maximum value of EUR 150 million, aimed at enhancing shareholder value and is in compliance with relevant regulations [1][2]. Group 1: Share Buyback Details - On 21 November 2025, Sampo plc acquired a total of 235,155 A shares at an average price of EUR 9.99 per share across various markets [1]. - The buyback transactions were conducted on multiple exchanges, including AQEU, CEUX, TQEX, and XHEL, with the following volumes: 7,294, 82,136, 20,886, and 124,839 shares respectively [1]. - The share buyback program commenced on 6 November 2025, following the authorization from Sampo's Annual General Meeting held on 23 April 2025 [1]. Group 2: Ownership Post Buyback - After the recent transactions, Sampo plc now holds a total of 2,880,989 A shares, which represents 0.11% of the total number of shares outstanding [2].

Core Insights - ONWARD Medical N.V. reported strong commercial execution and achieved significant scientific and regulatory milestones in Q3 2025, enhancing its market position in neurotechnology for spinal cord injuries [1][7] Commercial Traction - The company sold 40 ARC-EX Systems in Q3 2025, indicating robust demand for its external spinal cord stimulation technology [2][7] - ARC-EX Therapy is now available in over 60 clinics across the US, expanding access to innovative therapies for the SCI community [2] Regulatory Milestones - ONWARD Medical received CE Mark certification for the ARC-EX System, allowing for commercialization in both clinic and home settings within the European Union, with first sales expected in Q4 2025 [3] - The company obtained 510(k) clearance from the US FDA for the ARC-EX System for home use, marking it as the first FDA-cleared technology to improve hand strength and sensation in individuals with SCI [4] - The FDA also approved an investigational device exemption (IDE) for the ARC-IM System, enabling the start of the Empower BP global pivotal study to assess blood pressure management in SCI patients [5][7] Science & Technology Leadership - Two landmark articles were published in Nature and Nature Medicine, showcasing advances in blood pressure regulation after SCI and supporting the clinical evidence for the ARC-IM System [6][7] - Results from the LIFT Home Study published in Neurology: Clinical Practice demonstrated the effectiveness of continued ARC-EX Therapy at home in maintaining and extending clinical gains [8] Financial Highlights - The company reported EUR 1.7 million in revenue for Q3 2025, surpassing the EUR 1 million mark for the first time [9][7] - In October 2025, ONWARD Medical successfully raised over EUR 50 million in equity capital, providing a cash runway into Q1 2027, with a cash balance of EUR 77.7 million as of October 31, 2025 [10][7] Outlook - Continued demand for the ARC-EX System and positive user feedback suggest a strong commercial performance in 2026, supported by recent regulatory approvals [12] - The company anticipates the first patient enrollment in the Empower BP pivotal study before the end of 2025 and plans to explore additional indications for its ARC-IM and ARC-BCI Systems [13]

Core Insights - Fagron has strengthened its leadership in the EMEA region through acquisitions in Poland and Hungary, aligning with its strategy to diversify in dynamic markets and emphasizing its disciplined M&A approach for sustainable growth [1][2][8] Acquisitions - The acquisitions of Amara in Poland and Magilab in Hungary are expected to contribute mid-teens (€m) in annual revenue with an EBITDA margin exceeding Fagron's existing group margin, with a combined purchase price of approximately €26 million [2][4][5] - Amara brings over 30 years of experience in the Polish compounding sector and enhances Fagron's offerings while unlocking significant synergy potential [4] - Magilab is a trusted brand in Hungary's hospital pharmacy segment, consolidating Fagron's position in a market characterized by high compounding per capita [5] Financial Developments - Fagron has secured a new U.S. dollar credit facility totaling up to $225 million with maturities extending up to 15 years, enhancing financial flexibility and supporting growth ambitions in North America [6] - An initial $125 million has been drawn from this facility, which complements an existing €575 million bank facility [6] Licensing and Market Presence - Fagron has received a license for its Fagron Sterile Services facility in Boston, allowing the shipment of compounding medication to California, a significant step in reinforcing its presence in a major U.S. healthcare market [3][7] - This license enables all of Fagron's 503B facilities in the U.S. to ship to California, unlocking further opportunities with key customers [7] Strategic Vision - The CEO of Fagron highlighted that the acquisitions and financial developments are crucial for consolidating leadership in EMEA and supporting global ambitions in the B&E segment [8][9] - The company emphasizes its commitment to disciplined M&A, operational excellence, and prudent balance sheet management as key enablers of sustained growth and long-term success [10]