Washington DC, December 22, 2021 – The Globe Bank has accepted US$112 million in financing for the Jordan Support to Non-public Sector Employment and Skills Project, a system created to guidance Jordan’s have initiatives to stimulate personal sector employment, improve competencies education, and reduce youth and feminine unemployment.
The earlier 20 months of the COVID-19 pandemic have taken a toll on Jordan’s little, open up economy, with its robust inbound links to the relaxation of the planet. Real gross domestic product or service (GDP) contracted by 1.6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in 2020 and, inspite of an economic rebound in the to start with two quarters of 2021, the country’s unemployment level remains at 24.8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. Females and youth, whose unemployment costs have been now increased, are currently being strike most difficult by the COVID-19 disaster: General youth unemployment jumped from 40.6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in 2019 to an unprecedented 50{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in 2020, while feminine unemployment rose from 24.1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in 2019 to 32.8 {1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in 2020, a a great deal much larger enhance than for adult males. At 14{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, Jordan’s woman labor power participation fee is one of the least expensive in the world.
In response, the Government of Jordan (GOJ) will be launching the Countrywide Work Software (NEP), which will be supported by this new Entire world Financial institution undertaking. Portion of Jordan’s Financial Priority Program 2021–2023, the program aims to support the country’s private sector produce sustainable work opportunities at a time when quite a few firms are recovering from the original impression of the pandemic but are continue to unwilling to employ the service of new personnel. Male unemployment also increased involving 2019 and 2020, from 17.7{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to 22.6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.
“This software is viewed as a single of the most critical pillars of the federal government”s priorities application for the many years 2021-2023, and it is added to the financial stimulus deals accepted by the authorities to assist the national financial system in the course of the pandemic time period,” mentioned H.E. Nasser Shraideh, Minister of Setting up and Global Cooperation of Jordan. “The NEP was built in complete partnership with personal sector representatives, and its implementation system was simplified to empower the non-public sector to build the greatest variety of work possibilities, with the the very least achievable govt intervention, as the non-public sector corporations will be the most vital player in this application.”
“Entire world Bank funding will aid us to start our National Employment Method in early 2022 to enable us get well from COVID-19 by selling private sector-led position development focusing on youth and women of all ages, who are most in need to have of career opportunities”, explained H.E. Nayef Stetieh, Jordan’s Minister of Labour.
The NEP aims to permit a lot more than 2,000 personal sector companies to employ and coach over 63,000 new workers, with a third, women, and 50 {1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, youth aged 18 to 24. It options to do this through a combination of authorities subsidies for wages, social safety, and transport, as effectively as for structured on-the-task and classroom education.
Jordan’s persistently superior concentrations of unemployment are pushed by the restricted ability of its private sector to build more—and better—jobs. The non-public sector generates significantly less positions than the variety of new entrants into the labor drive, and the general public sector is not ready to make up the gap. Unemployment is also explained by the mismatch between the capabilities that employees carry to the labor industry and the abilities the private sector calls for.
“The Globe Bank is supporting Jordan in its COVID-19 response attempts, together with by means of this new employment initiative, and assistance improve private sector-led financial commitment development and career creation for an successful and resilient restoration,” stated Saroj Kumar Jha, Mashreq Regional Director, World Financial institution Group. “On-the-work and classroom schooling below this new application will add to upskilling of Jordanians and reaching sustainable employment”.
The Environment Bank’s Region Partnership Framework for Jordan 2017–2022 highlights the need for more powerful private sector-led growth and much better work prospects for all. By delivering finance for federal government approaches to support the creation of a lot more financial opportunities for women of all ages, Jordan’s new work method is in holding with the Lender Group’s Gender Tactic 2016–23, as perfectly as Jordan’s Women of all ages Financial Empowerment Motion Program and its Nationwide Technique for Women of all ages 2020–2025.
WASHINGTON (Reuters) – U.S. job openings surged in October while hiring decreased, suggesting a worsening worker shortage, which could hamper employment growth and the overall economy.
The Labor Department’s monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Wednesday also showed a steady decline in layoffs, another sign that the jobs market was tightening. While the number of people voluntarily quitting their jobs fell, it remained quite high.
“Under normal circumstances, a near record number of job openings would be something worth celebrating,” said Jennifer Lee, a senior economist at BMO Capital Markets in Toronto. “But no employer is in a celebratory mood. It is difficult to fill orders or meet customer demands if there are not enough people to do the actual work.”
Job openings, a measure of labor demand, increased by 431,000 to 11.0 million on the last day of October. This was the second-highest on record. Economists polled by Reuters had forecast 10.4 million vacancies.
The surge was led by the accommodation and food services industry, where vacancies increased by 254,000 jobs. There were 45,000 job openings in the nondurable goods manufacturing industry, while vacancies increased by 42,000 in the educational services sector. But job openings decreased by 115,000 in state and local government, excluding education.
Regionally, the rise in job openings was more pronounced in the South, with moderate gains in the West and Midwest. Vacancies fell in the Northeast. The job openings rate rose to 6.9{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} from 6.7{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in September.
Hiring dropped by 82,000 jobs to 6.5 million in October. The finance and insurance industry accounted for the decline, with a 96,000 drop in payrolls. There were, however, increases in hiring in educational services as well as state and local government education. The hiring rate was unchanged at 4.4{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.
There were about 1.5 job openings per unemployed worker in October.
(Graphic: Unemployed to job openings, https://graphics.reuters.com/USA-FED/JOBS/egvbkmeoepq/chart.png)
The government reported last Friday that nonfarm payrolls increased by 210,000 jobs in November, the fewest since last December, after rising 546,000 in October. The unemployment rate fell to a 21-month low of 4.2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.
Though employment is 3.9 million jobs below the peak in February 2020, economists believe that number probably is not a true reflection of the labor market’s health as the shortfall includes people who have retired.
The JOLTS report showed layoffs fell by 35,000 to 1.361 million. The layoffs rate was unchanged at 0.9{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} for a third straight month.
Quits decreased by 205,000 to a still-high 4 million in October. The decline was in several industries, with large drops in transportation, warehousing and utilities as well as finance and insurance, and arts, entertainment and recreation.
But 21,000 more people quit their jobs in state and local government, excluding education. There were also more quits in mining and logging. The quits rate fell to 2.8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} from 3.0{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in September amid a large drop in the leisure and hospitality sector.
(Graphic: Americans still quitting their jobs in big numbers, https://graphics.reuters.com/USA-ECONOMY/byprjqqnxpe/chart.png)
“The quits rate in those industries dropped by half a percentage point, signaling some easing in job hopping,” said Nick Bunker, director of research at Indeed Hiring Lab. “In addition to the slowdown in wage growth in the sector seen in recent jobs reports, this trend suggests maybe the advantageous situation for workers in this sector might deteriorate in the months ahead if the current situation continues.”
The quits rate is normally viewed by policymakers and economists as a measure of job market confidence. The still-high quits rate suggests wage inflation will likely remain uncomfortably high for a while. Inflation is way above the Federal Reserve’s flexible 2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} target.
(Reporting by Lucia Mutikani; Editing by Andrea Ricci)
LOUISVILLE, Ky., Oct 28, 2021–(Business enterprise WIRE)–GE Appliances (GEA), a Haier firm, announced strategies to invest $450 million at its Appliance Park headquarters and production operation and insert a lot more than 1,000 new positions by year-conclusion 2023. This is one particular of the greatest investment decision announcements in the company’s 100-yr background. The options involve continuing to enhance services, raise capability and launch new items. GEA made the announcement as aspect of its Manufacturing Thirty day period celebration.
Equipment Park – GE Appliances’ headquarters in Louisville, KY (Photograph: GE Appliances, a Haier enterprise).
Around the very last 5 many years, GE Appliances has invested additional than $1.3 billion in its U.S. production and distribution operations and designed much more than 3,000 new work opportunities – with a the vast majority in Kentucky. A 2020 financial influence examination released by the organization in January 2021 noted that GEA’s investments, provider foundation, buyers and payroll contributed $11 billion to Kentucky’s GDP that 12 months.
“GE Appliances proceeds to provide production back again to the United States – building positions and economic progress,” stated Kevin Nolan, president and chief executive officer for GE Appliances. “We want zero distance between us and the thousands and thousands of family members across The united states we serve with our goods.”
Now, GEA gained preliminary approval of its plan and amplified economic improvement incentives by the Kentucky Economic Progress Finance Authority (KEDFA), which was recognized within the Cabinet for Financial Progress to motivate enterprise expansion and task generation. KEDFA provides an array of fiscal assistance and tax-credit score systems to further more the Commonwealth’s aims of accomplishing very long-phrase economic development and employment prospects for Kentuckians.
“I want to thank Governor Beshear and the overall financial enhancement team for their comprehending of the great importance of expanding and sustaining current enterprises in the Commonwealth,” claimed Nolan.
“As GE Appliances grows, Kentucky and our citizens stand to advantage. This substantial expenditure will far better placement the company for the yrs in advance and will produce excellent work opportunities for Kentuckians,” Gov. Beshear claimed. “I want to congratulate the Louisville neighborhood on this upcoming financial commitment and thank the leaders at Haier and GE Appliances for their dedication to the Commonwealth.”
“GE Appliances is a firm that you can rely on day in and day out. From today’s exciting announcement to its ‘Blue Wave’ of local community provider, GEA is a national design for its determination to commit in U.S. advanced production, for its chopping-edge products and solutions and for its impression to the wellbeing of our group,” said Louisville Mayor Greg Fischer. “Thank you to GEA for aiding Louisville to be a leader in advanced manufacturing and to Kevin Nolan for his excellent leadership!”
The conclusion by KEDFA was taken pursuant to the Kentucky Positions Retention Act (KJRA), which offers incentives from the Commonwealth and the Metropolis of Louisville to assist economic advancement ideas conditioned on employer commitments to manage work at an agreed-on amount. KEDFA initially accredited incentives for GEA in 2014 as section of an agreement that bundled the company’s motivation to sustain a workforce of not less than 5,263 employees at Appliance Park. GEA has exceeded its original commitment and enhanced employment by about 2,000 folks. The Oct 28, 2021, final decision would maximize the incentive amount of money to $80 million for the new financial investment and have to have retaining a minimal of 7,100 staff for the subsequent 10 several years.
About GE Appliances
At GE Appliances, a Haier organization, we come jointly to make “great matters, for lifestyle.” We’re creators, thinkers and makers who imagine everything is doable and there is usually a superior way. We’re a corporation driven by our people, produced more powerful through our range — allowing us to grow closer than ever prior to to our house owners, anticipate their needs and enhance their life. In 2021, we were being qualified as a Great Area to Work™, named a single of the Most effective Providers for Multicultural Gals, gained the Achievers 50 Most Engaged Workplaces® award, and received a best rating for the fourth year in a row on the Human Legal rights Campaign’s Corporate Equality Index.
Because 1907, we’ve developed innovative, high quality products and solutions that are reliable in 50 {1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of all U.S. properties. We promote appliances less than the Monogram®, Café™, GE Profile™, GE®, Haier and Hotpoint models. Our products include refrigerators, freezers, cooking goods, dishwashers, washers, dryers, wine & beverage facilities, air conditioners, tiny appliances, drinking water filtration techniques and h2o heaters. To discover additional about GE Appliances, take a look at geappliancesco.com.
Media Get in touch with: Julie Wood, GE Appliances, a Haier company (502) 741-1557 or julie_wood@geappliances.com
Julie Wood Senior Director – Company Communications GE Appliances, a Haier enterprise T +1 502 452 5914 M +1 502 741 1557 julie_wood@geappliances.com www.geappliances.com
This news release constitutes a “designated news release” for the purposes of Nomad’s prospectus supplement dated June 22, 2021, to its short form base shelf prospectus dated September 30, 2020
MONTREAL, Oct. 29, 2021 /CNW Telbec/ – Nomad Royalty Company Ltd. (“Nomad” or the “Company“) (TSX : NSR) (NYSE: NSR) is pleased to announce that it has entered into a gold purchase agreement (“Gold Stream“) with a subsidiary of Orion Mine Finance (“Orion” or “Seller“) with respect to its 40{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} interest in the Greenstone Gold Mines LP (“GGM“), which is the owner and operator of the Greenstone Gold Project located in Ontario, Canada (the “Greenstone Project“). Nomad will make up-front cash payments totalling $95 million for 5.938{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of gold production attributed to Orion’s 40{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} interest in GGM until 120,333 ounces have been delivered, and 3.958{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} thereafter. As part of the Gold Stream, Nomad has made a long-term commitment to funding mine-level environmental, social and governance (“ESG“) programs by agreeing to make payments to GGM equal to $30 per ounce of gold delivered to Nomad. For further clarity, the Gold Stream does not encumber Equinox Gold Corp’s 60{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} interest in GGM or the Greenstone Project. All figures quoted herein are in United States dollars unless otherwise indicated.
“The addition of the Greenstone Gold Stream strengthens our portfolio and adds near-term production from a fully permitted project located in Ontario, a premier mining jurisdiction,” commented Vincent Metcalfe, Nomad’s CEO. “This transaction is consistent with Nomad’s strategy of building a cash flow focused precious metals royalty and stream portfolio.”
“We are very pleased to partner with Orion on its portion of the Greenstone Project. Through the Gold Stream, Nomad is excited and proud to make a life-of-mine financial commitment to support GGM’s environment and community-based programs,” further commented Joseph de la Plante, Nomad’s CIO.
TRANSACTION HIGHLIGHTS (Shown on a 100{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} basis, of which Orion owns 40{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a})
Highlights Nomad’s expertise and ability to execute high-quality streaming transactions
Demonstrates Nomad’s commitment to supporting ESG initiatives through a life-of-mine financial commitment to GGM to support mine-level environment and community-based programs
Adds a Tier 1 gold stream on a top-tier mine to Nomad’s portfolio
Furthers Nomad’s strategy of investing in near-term production
Significant underground and near-mine exploration upside potential1
____________________________
1 Sources: Press release of Equinox Gold Corp. dated October 27, 2021, a copy of which is available on Equinox Gold Corp’s profile on SEDAR at www.sedar.com.
2 Sources : Management’s discussion and analysis of Equinox Gold Corp. for the three and six months ended June 30, 2021, a copy of which is available on Equinox Gold Corp’s profile on SEDAR at www.sedar.com.
TERMS OF THE AGREEMENT
Advance Deposit: Nomad to fund an advance deposit of $95 million to Orion, of which $13.3 million is expected to be advanced in Q4 2021 (the “First Deposit“) and $81.7 million is expected to be advanced no later than June 30, 2023 (the “Second Deposit“). Funding of the First Deposit is conditional upon, among other things, (i) Orion and the other partners of GGM entering into a second amended and restated limited partnership agreement of GGM on or before November 30, 2021; (ii) Orion entering into a senior credit facility on or before November 30, 2021; (iii) a formal construction decision has been made with respect to the Greenstone Project; and (iv) the first drawdown by Orion under it senior credit facility. Funding of the Second Deposit by Nomad shall be conditional upon, among other things, a second drawdown by Orion under its senior credit facility
Gold Stream: Under the Gold Stream, Nomad will be entitled to delivery of 5.938{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of gold production attributed to Orion’s 40{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} interest until 120,333 ounces of gold have been delivered, and 3.958{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} thereafter
Cash Payment: Nomad will pay the Seller an ongoing payment, at the time of each delivery, equal to 20{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of the spot gold price for each ounce of refined gold delivered under the Gold Stream
ESG Financial Commitment: Life-of-mine financial commitment to make ongoing cash payments to GGM equal to $30 per ounce of gold delivered under the Gold Stream to support ESG programs implemented by GGM at the Greenstone Project
Exploration Upside: The Gold Stream on Orion’s 40{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} interest applies to all mining claims, mining leases and other similar mining rights currently comprising the Greenstone Project, including the Hardrock, Brookbank, Key Lake and Kailey deposits and will also apply to potential future upside at the existing orebodies and prospective targets that may be acquired in the future within the Gold Stream area of interest
ESG Nomad is dedicated to promoting responsible mining practices and supporting the communities where we live and operate. By joining the United Nations Global Compact on December 15, 2020, Nomad committed to voluntarily aligning its operations and strategy with the ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption. Nomad strives to be a leader in ESG by investing in both direct and indirect sustainable development initiatives, aligned with the Sustainable Development Goals important to our business. As such Nomad plans to focus on Quality Education; Gender Equality; Clean Water and Sanitation; and Climate Action.
The life-of-mine financial commitment by Nomad to make cash payments to GGM equal to $30 per ounce of gold delivered under the Gold Stream to support ESG programs implemented by GGM at the Greenstone Project further demonstrates our commitment to corporate sustainability. The future environment and community-based programs will directly benefit and impact all Greenstone Project stakeholders.
The Stream Agreement may be terminated prior to the closing of the First Deposit (i) by mutual consent of Nomad and Orion, (ii) by either Nomad or Orion if the First Deposit does not close by December 31, 2021 and (iii) by either Nomad or Orion if the amended and restated limited partnership agreement or the Orion senior credit facility is not entered into by November 30, 2021.
A formal construction decision has not been made by the partners of GGM and is subject to receiving consent of Equinox Gold Corp’s lenders and the closing of financing by Orion, both of which are expected within the next several weeks.
RELATED PARTY TRANSACTION Affiliates of Orion beneficially own or control approximately 70{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of the outstanding common shares of Nomad and, as such, Orion is considered a “related party” and an “insider” of Nomad for the purposes of applicable securities laws and stock exchange rules. The Gold Stream transaction may be considered a “related party transaction” between Nomad, Orion and their respective affiliates for the purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). Nomad is relying on exemptions from the formal valuation and minority approval requirements otherwise mandated by MI 61-101, since at the time the Gold Stream transaction was agreed to, neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Gold Stream transaction, insofar as it involves interested parties, exceeded 25 per cent of Nomad’s market capitalization.
ABOUT GREENSTONE GOLD MINES The Greenstone Project is a 60/40 partnership between Equinox Gold Corp. and Orion Mine Finance for the joint ownership and development of the Greenstone Project, including the Kenogamisis, Brookbank and Viper Properties.
GGM is advancing plans to construct and operate an open-pit gold mine, processing plant and ancillary facilities, collectively known as the Greenstone Gold project. The property is located approximately 275 kilometers northeast of the city of Thunder Bay, Ontario and approximately four kilometers south of the town of Geraldton, Ontario.
GGM proposes to mine the Hardrock deposit as a 27,000 tonnes-per-day open-pit mine with an initial mine life of 14 years1.
QUALIFIED PERSON Vincent Cardin-Tremblay, P. Geo., Vice President, Geology of Nomad is the “Qualified Person” as defined in NI 43-101 who has reviewed and approved the technical content of this news release.
CONTACT INFORMATION For more information about Nomad Royalty Company, please visit our website at www.nomadroyalty.com or email us:
ABOUT NOMAD Nomad Royalty Company Ltd. is a gold & silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine. Nomad owns a portfolio of 15 royalty and stream assets, of which 8 are on currently producing mines. Nomad plans to grow and diversify its low-cost production profile through the acquisition of additional producing and near-term producing gold & silver streams and royalties. For more information please visit: www.nomadroyalty.com.
Nomad Royalty Company Ltd. 500-1275 ave. des Canadiens-de-Montréal Montreal, Québec H3B 0G4 nomadroyalty.com
Forward-looking statements
Certain statements contained in this press release may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that Nomad expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur including, without limitation, the satisfaction of all conditions precedent for funding the First Deposit and Second Deposit under the Gold Stream and the realization of the anticipated benefits of this transaction. Although Nomad believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the impossibility to proceed with the closing of the First Deposit and/or Second Deposit, fluctuations in the prices of the primary commodities that drive royalty and stream revenue, Nomad’s royalty and stream interests, access to skilled consultants, results of mining operations, exploration and development activities for properties with respect to which Nomad holds a royalty or stream, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, timeliness of government or court approvals, actual performance of facilities, equipment and processes relative to specifications and expectations, unanticipated environmental impacts on operations, market prices, continued availability of capital and financing, general economic, market and business conditions, risks relating to the Gold Stream and its completion; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. Nomad cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the forward-looking statements contained herein should carefully consider the above factors as well as the uncertainties they represent and the risks they entail. Nomad believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. Nomad undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.
