TEMPLE BAR INVESTMENT TRUST Plc

NET ASSET VALUE

It is announced that at the close of business on 19 December 2024 the unaudited net asset values (NAVs) per ordinary share of Temple Bar Investment Trust Plc managed by RWC Asset Management LLP are as follows.

Pence per share Cum IncomeEx-dividend Pence per share Ex Income NAV with debt at par value  280.63  277.16 NAV with debt at fair value  285.53  282.06

For and on behalf of the Board

Frostrow Capital LLP

Secretary

20 December 2024

Legal Entity Identifier 213800O8EAP4SG5JD323

NEW YORK, Dec. 20, 2024 /PRNewswire/ -- The New York Stock Exchange (NYSE) is proud to offer a new daily pre-market update and additional content directly from the iconic NYSE Trading Floor. Access today's NYSE Pre-market update as well as a Weekly Recap for market insights and other content before trading begins.

DAILY NYSE PRE-MARKET UPDATEKristen Scholer, Senior Markets Anchor, NYSE, delivers a daily pre-market update that includes key insights into the trading day ahead leading up to the NYSE's Opening Bell.

CHARLOTTE, N.C., Dec. 20, 2024 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) will report fourth-quarter 2024 financial results before the market opens on Friday, January 17, 2025. Chairman and Chief Executive Officer Bill Rogers and Chief Financial Officer Mike Maguire will host a conference call to review the company's financial results at 8 a.m. ET.

Investors can access the live earnings call by webcast or dial-in as follows:

Live webcast for listeners: https://app.webinar.net/xOqjwYK80mY

CAPITAL GEARING TRUST P.L.C.

(the "Company")

LEI:213800T2PJTPVF1UGW53

Date: 20 December 2024

Net Asset Value

The Company announces that, as at the close of business on 19 December 2024, the unaudited net asset values per ordinary share, valued on a 'bid price' basis, were:

Capital only: 4,789.11p

Including income: 4,841.84p

Frostrow Capital LLP

Company Secretary

Email: company.secretary@capitalgearingtrust.com

DALLAS, Dec. 20, 2024 /PRNewswire/ -- Argent Trust Company, as the trustee (the "Trustee") of the San Juan Basin Royalty Trust (the "Trust") (NYSE: SJT), today reported that it will not declare a monthly cash distribution to the holders of its Units of beneficial interest (the "Unit Holders") due to excess production costs for the Trust's subject interests ("Subject Interests") during the production month of October 2024, as well as continued low natural gas pricing. Excess production costs occur when production costs and capital expenditures exceed the gross proceeds for a certain period. Excess production costs for this reporting period are due primarily to significant lease operating expenses and capital expenditures associated with Hilcorp San Juan L.P.'s ("Hilcorp") 2024 capital project plan.

$19.6 million in cash and cash equivalents as of September 30, 2024

Dramatically reduced cash burn rate expected

NEW YORK, Dec. 20, 2024 /PRNewswire/ -- Synaptogenix, Inc. (Nasdaq: SNPX) ("Synaptogenix" or the "Company"), an emerging biopharmaceutical company developing therapeutics for neurodegenerative disorders, today announced that its Board of Directors has formed an independent Special Committee to explore strategic opportunities to create and enhance value for investors. Funding for such opportunities is supported by the Company's robust financial position including $19.6 million in cash as of September 30, 2024, with approximately 1.3 million common shares outstanding.

Central Michigan community is the latest WOW! Greenfield market to launch its state-of-the-art network for residents and businesses in the area

ENGLEWOOD, Colo., Dec. 20, 2024 /PRNewswire/ -- WOW! Internet, TV & Phone (NYSE: WOW), a leading broadband services provider, today announced its all-fiber services are now available in Brighton, a town in Livingston County, Michigan. This is the first of several communities in Central Michigan to have access to WOW!, with plans to add 80,000 homes to its footprint in Michigan in the near future as part of its ongoing Greenfield expansion initiative. 

Expects to hit 2026 SEA Change EBITDA target one year early

MIAMI, Dec. 20, 2024 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) announced financial results for the fourth quarter and full year 2024 and provided an outlook for the first quarter and full year 2025.

Key Highlights 

Full year revenues hit an all-time high of $25 billion, over 15 percent higher than the prior year, with continued strength in demand.Full year net income of $1.9 billion; adjusted net income1 of $1.9 billion outperforms September guidance by over $130 million.Record full year adjusted EBITDA1 of $6.1 billion, over 40 percent higher than the prior year.Record full year operating income of $3.6 billion, over 80 percent higher than the prior year.Adjusted return on invested capital1 ("ROIC") of 11 percent.Record fourth quarter revenues of $5.9 billion, 10 percent higher than prior year, delivering record adjusted EBITDA.Cumulative advanced booked position for full year 2025 is at an all-time high for both price (in constant currency) and occupancy.Adjusted EBITDA per available lower berth1 ("ALBD") for 2025 expected to be the highest in almost two decades, achieving 2026 SEA Change target one year in advance.

CARNIVAL CORPORATION & PLC OUTPERFORMS FOURTH QUARTER GUIDANCE, REPORTS RECORD FULL YEAR OPERATING RESULTS AND EXPECTS 20 PERCENT EARNINGS GROWTH IN 2025

 

Expects to hit 2026 SEA Change EBITDA target one year early

MIAMI, Dec. 20, 2024 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) announced financial results for the fourth quarter and full year 2024 and provided an outlook for the first quarter and full year 2025.

Key Highlights 

Full year revenues hit an all-time high of $25 billion, over 15 percent higher than the prior year, with continued strength in demand. Full year net income of $1.9 billion; adjusted net income1 of $1.9 billion outperforms September guidance by over $130 million. Record full year adjusted EBITDA1 of $6.1 billion, over 40 percent higher than the prior year. Record full year operating income of $3.6 billion, over 80 percent higher than the prior year. Adjusted return on invested capital1 ("ROIC") of 11 percent. Record fourth quarter revenues of $5.9 billion, 10 percent higher than prior year, delivering record adjusted EBITDA. Cumulative advanced booked position for full year 2025 is at an all-time high for both price (in constant currency) and occupancy. Adjusted EBITDA per available lower berth1 ("ALBD") for 2025 expected to be the highest in almost two decades, achieving 2026 SEA Change target one year in advance.

"This has been an incredibly strong finish to a record year. Revenues hit an all-time high driven by a strong demand environment that we elevated throughout the year, enabling us to outperform our initial 2024 guidance by $700 million and deliver nearly $2 billion more to the bottom line, year over year," commented Carnival Corporation & plc's Chief Executive Officer Josh Weinstein. "The progress was broad based as we drove strong pricing in 2024 as compared to 2023 across our major cruise lines and trades."

"We are delivering long-term value for our shareholders through improved operational execution across our brands, essentially on a same ship basis. We ended 2024 with adjusted ROIC of 11 percent, comfortably above our cost of capital. In fact, with one year down, we're already over 80 percent of the way toward achieving our 2026 SEA Change EBITDA and adjusted ROIC targets," Weinstein continued.

According to Weinstein, there is even more in store to continue the momentum as the company is actively working on an enhanced destination strategy to provide guests with yet another reason to take a cruise vacation offered exclusively by Carnival Corporation & plc's portfolio of cruise lines. The company is also working to increase awareness and consideration for cruise travel globally.

"2025 is shaping up to be another banner year, with yield growth expected to far outpace historical growth rates and again exceed unit cost growth, thanks to the efforts of our amazing team members. They have delivered a step-change improvement in 2024 which sets us up for a fantastic 2025 and beyond, while delivering unforgettable happiness to over 13.5 million guests last year," Weinstein noted.

Fourth Quarter 2024 Results

Net income was $303 million, or $0.23 diluted EPS, versus a net loss of $48 million in 2023. Adjusted net income of $186 million, or $0.14 adjusted EPS1, outperformed September guidance by $126 million, driven by higher ticket prices, higher onboard spending and improved costs. Record fourth quarter adjusted EBITDA of $1.2 billion was 29 percent higher than 2023 and outperformed September guidance by $80 million. Record fourth quarter revenues of $5.9 billion, exceeded 2023 levels by 10 percent. Gross margin yields exceeded 2023 levels by 20 percent. Record net yields1 (in constant currency) exceeded 2023 levels by 6.7 percent and were better than September guidance. Gross margin per diems were 19 percent higher than 2023. Record net per diems1 (in constant currency) were 5.3 percent higher than 2023 with both ticket prices and onboard spending up. Cruise costs per ALBD increased 4.1 percent compared to 2023. Adjusted cruise costs excluding fuel per ALBD1 (in constant currency) increased 7.4 percent compared to 2023 and were better than September guidance. Total customer deposits reached a fourth quarter record of $6.8 billion, surpassing the previous fourth quarter record of $6.4 billion (as of November 30, 2023), reflecting growth in both ticket prices and pre-cruise onboard sales.

1 See "Non-GAAP Financial Measures" at the end of this release for additional information.

Bookings

Even with less inventory available, booking volumes taken during the fourth quarter of 2024 for 2025 were higher than the prior year for a strong 2024, despite the traditionally slower period around the election. Booking volumes taken during the fourth quarter for 2026 continued to break records, reflecting sustained demand even for further out sailings.

"Our brands effectively capitalized on their ongoing strength in demand, achieving higher prices (in constant currency) than last year and reinforcing our record-breaking booked position. In fact, with nearly two-thirds of 2025 already booked, we are expecting another year of strong yield improvement, outpacing historical growth rates and on top of two back-to-back years of mid-to-high single digit per diem growth. This validates the success of our demand generation efforts on our optimized portfolio," Weinstein noted.

The cumulative advanced booked position for full year 2025 is at an all-time high for both price (in constant currency) and occupancy. Price (in constant currency) and occupancy are higher than 2024 for all four quarters of 2025.

2025 Outlook 

For the full year 2025, the company expects:

Net yields (in constant currency) approximately 4.2 percent higher than record 2024 levels based on continued strength in demand. Adjusted cruise costs excluding fuel per ALBD (in constant currency) up approximately 3.7 percent compared to 2024, in part due to higher dry-dock days, higher advertising expense and operating costs for the company's new exclusive destination, Celebration Key. Adjusted net income of approximately $2.3 billion, over 20 percent higher than 2024. Adjusted EBITDA of approximately $6.6 billion, up approximately $500 million compared to 2024. Adjusted EBITDA per ALBD to reach its 2026 SEA Change target one year in advance. Adjusted ROIC of approximately 11.7 percent.

See "Guidance" and "Reconciliation of Forecasted Data" for additional information on the company's 2025 outlook.

Financing and Capital Activity

"With the benefit of well managed near term maturity towers and improved leverage metrics, we expect to opportunistically capitalize on improved interest rates while proactively managing our maturity towers for 2027 and beyond. In 2025, interest expense is currently expected to be over $200 million lower than 2024 and over $500 million lower compared to 2023,"  commented Carnival Corporation & plc's Chief Financial Officer David Bernstein.

"We are laser focused on continuing our efforts to further reduce interest expense and rebuilding an investment grade balance sheet. Just this year, we achieved a 4.3x net debt to adjusted EBITDA1 ratio, nearly a two and a half turn improvement from 2023, positioning us three-fourths of the way to our initial leverage target," Bernstein added.

During 2024, the company made debt prepayments of $3.3 billion, bringing its total prepayments to $7.3 billion since the beginning of 2023. In addition, the company has reduced its debt balance by over $8 billion from its peak in January 2023, ending the year with $27.5 billion of debt. As of November 30, 2024, the company's debt maturities for full year 2025 and 2026 are $1.5 billion and $2.7 billion.

During the quarter, the company obtained three new export credit facilities, bringing its total committed financings related to ship deliveries to $7.8 billion, continuing its strategy to finance its newbuild program at preferential interest rates.

1 See "Non-GAAP Financial Measures" at the end of this release for additional information

Sustainability 

The company continues to achieve meaningful progress towards its sustainability goals. In 2024, the company:

Reduced its absolute greenhouse gas ("GHG") emissions from ship fuel by approximately 11 percent as compared to its peak year of 2011, despite capacity growth of nearly 37 percent over the same period. Reached 85 percent of its GHG emission intensity goal, on track to achieve more than a 20 percent reduction by the end of 2026 compared to 2019, a goal that was previously pulled forward by four years. Now leads the industry with ten LNG powered ships and nearly 20 percent of its fleet capacity, following the delivery of Sun Princess. Continued to have the most ships in the industry capable of plugging into shore power and now more than two-thirds of its ships are equipped with shore power capability. Delivered 44 percent reduction in food waste per person relative to its 2019 baseline, surpassing its interim goal one year ahead of schedule and approaching its 2030 goal to reduce food waste by 50 percent.

Other Recent Highlights 

Sun Princess, Princess Cruises' newest ship, recognized as the Best Mega Cruise Ship in the United States by Condé Nast Traveler's 2024 Readers' Choice Awards (learn more here). Carnival Cruise Line earned top honors in multiple categories of the 2024 Travel Weekly Readers' Choice Awards, including Best Short Itinerary for the third consecutive year, Best Domestic Cruise Line for the ninth consecutive year and Best Travel Advisor Loyalty Program (learn more here). Seabourn was honored with a total of 45 travel awards and accolades in 2024 (learn more here), including Condé Nast Traveler's 2024 Readers' Choice Awards as the Best Small-Ship Cruise Line and Best Expedition Cruise Line (learn more here). Princess Cruises launched its new global advertising campaign bringing back the magic of "The Love Boat," featuring Hannah Waddingham of Ted Lasso fame (learn more here). Princess Cruises reported record-breaking bookings for the Black Friday through Cyber Monday weekend period, 32 percent higher than the same period in 2023 (learn more here). Half Moon Cay, the award-winning exclusive island in The Bahamas known for its naturally beautiful beaches and crystal-clear waters, renamed to 'RelaxAway, Half Moon Cay' in support of its enhancements and the experience guests can expect when immersed in this tropical paradise (learn more here). P&O Cruises (UK) announced it will be the headline sponsor of the Pride of Britain Awards in 2025, the biggest show of its kind on British television (learn more here). Cunard was named Walpole's British Luxury Brand of the Year, reinforcing its position as a leader in luxury travel (learn more here). Recognized as one of: The Top 250 Best-Managed Companies in 2024 by the Wall Street Journal (learn more here). The World's Top Companies for Women in 2024 by Forbes (learn more here). Europe's Diversity Leaders in 2025 by Financial Times (learn more here).

Guidance

(See "Reconciliation of Forecasted Data")

 

 

1Q 2025

 

Full Year 2025

Year over year change

 

Current Dollars

 

Constant Currency

 

Current Dollars

 

Constant Currency

Net yields

 

Approx. 3.5%

 

Approx. 4.6%

 

Approx. 3.2%

 

Approx. 4.2%

Adjusted cruise costs excluding fuel per ALBD

 

Approx. 2.4%

 

Approx. 3.4%

 

Approx. 2.7%

 

Approx. 3.7%

 

 

 

2025

 

 

1Q

 

2Q

 

3Q

 

4Q

 

Full Year

ALBDs (in millions) (a)

 

23.6

 

24.3

 

24.6

 

23.9

 

96.3

Capacity growth compared to prior year

 

2.5 %

 

3.4 %

 

(2.5) %

 

(0.0) %

 

0.8 %

(a)   See "Notes to Statistical Information"

 

 

1Q 2025

 

Full Year 2025

Fuel consumption in metric tons (in millions)

0.7

 

2.9

Fuel cost per metric ton consumed (excluding European Union Allowance ("EUA"))

$                     616

 

$                     617

Fuel expense (including EUA expense) (in billions)

$                    0.45

WASHINGTON, Dec. 20, 2024 /PRNewswire/ -- Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq: VNDA) today announced the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation for VGT-1849A, a selective antisense oligonucleotide (ASO)-based JAK2 inhibitor for the treatment of polycythemia vera (PV), a form of a rare hematologic malignancy that is estimated to affect 1 in 2000 Americans.1

NEW YORK, Dec. 20, 2024 /PRNewswire/ -- The New York Stock Exchange (NYSE) is proud to offer a new daily pre-market update and additional content directly from the iconic NYSE Trading Floor. Access today's NYSE Pre-market update as well as a Weekly Recap for market insights and other content before trading begins.

DAILY NYSE PRE-MARKET UPDATEKristen Scholer, Senior Markets Anchor, NYSE, delivers a daily pre-market update that includes key insights into the trading day ahead leading up to the NYSE's Opening Bell.

NEW YORK, Dec. 20, 2024 /CNW/ -- The New York Stock Exchange (NYSE) is proud to offer a new daily pre-market update and additional content directly from the iconic NYSE Trading Floor. Access today's NYSE Pre-market update as well as a Weekly Recap for market insights and other content before trading begins.

DAILY NYSE PRE-MARKET UPDATEKristen Scholer, Senior Markets Anchor, NYSE, delivers a daily pre-market update that includes key insights into the trading day ahead leading up to the NYSE's Opening Bell.

NEW YORK, Dec. 20, 2024 /PRNewswire/ -- The New York Stock Exchange (NYSE) is proud to offer a new daily pre-market update and additional content directly from the iconic NYSE Trading Floor. Access today's NYSE Pre-market update as well as a Weekly Recap for market insights and other content before trading begins.

DAILY NYSE PRE-MARKET UPDATEKristen Scholer, Senior Markets Anchor, NYSE, delivers a daily pre-market update that includes key insights into the trading day ahead leading up to the NYSE's Opening Bell.

20 December 2024

 

 

Ashoka WhiteOak Emerging Markets Trust plc

 

Net Asset Value

 

Ashoka WhiteOak Emerging Markets Trust plc announces that as at the close of business on 19 December 2024 its unaudited net asset value ("NAV") per ordinary share ("Share") was as follows:

 

NAV per Share (NAV per share cum income, post Alpha Fee)

 

 121.81p

 

The Company's LEI is 254900Z4X5Y7NTODRI75

 

For further information:

 

Company Secretary

AWEMT.Cosec@jtcgroup.com

+44 207 409 0181

 

VIP Play, Inc. (VIPZ) has entered into a definitive agreement with Delaware North for market access to the state of West Virginia for Sports Betting and Online Casino.

SARASOTA, Fla., Dec. 20, 2024 /PRNewswire/ -- VIP Play, Inc. (VIPZ), an experienced mobile gambling operator in both the US and International gaming markets (currently operating in the state of Tennessee as ZenSports) –  has agreed to terms with Delaware North to operate in West Virginia under Delaware North's Wheeling Island Casino license.

VANCOUVER, BC, Dec. 20, 2024 /PRNewswire/ -- Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN8) ("Scope Technologies" or the "Company") is pleased to announce its engagement of Percepture, a leading full-service digital marketing and public relations agency. This partnership is a strategic step to expand the market reach of QSE (Quantum Security Entropy) and drive client acquisition amid the accelerating developments in quantum security.

Residents and businesses in Hernando Beach can now sign up for WOW!'s all-fiber services with simplified pricing

ENGLEWOOD, Colo., Dec. 20, 2024 /PRNewswire/ -- WOW! Internet, TV & Phone (NYSE: WOW), a leading broadband services provider, today announced its all-fiber services are now available in Hernando Beach in Hernando County, Florida, following the recent launch of services in nearby Spring Hill.

SS&C GlobeOp Forward Redemption Indicator: December notifications 3.54%

WINDSOR, Conn., Dec. 20, 2024 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that the SS&C GlobeOp Forward Redemption Indicator for December 2024 measured 3.54%, up from 2.91% in November.

"SS&C GlobeOp's Forward Redemption Indicator for December 2024 was 3.54%. The figure was lower than the 10-year average of 4.27% for the period, as investors assessed market opportunities and refined asset allocations for the upcoming year," said Bill Stone, Chairman and Chief Executive Officer of SS&C Technologies. "Following robust equity market performance over the past two years, signs indicate potential headwinds for economic conditions and return expectations. This shifting landscape provides fertile ground for compelling hedge fund risk-adjusted returns, and we anticipate strong asset retention heading into 2025."

MENLO PARK, Calif., Dec. 20, 2024 /PRNewswire/ -- Cyngn Inc. (the "Company" or "Cyngn") (Nasdaq: CYN), a developer of AI-powered autonomous driving software solutions for industrial applications, today announced the pricing of a follow on offering, priced at the market, with gross proceeds to the Company expected to be approximately $20.0 million, before deducting placement agent fees and other estimated offering expenses payable by the Company.

Natural language search reveals insights into how people searched for homes this year

SEATTLE, Dec. 20, 2024 /PRNewswire/ -- From barns to laser tag, Zillow® AI-powered natural language search revealed 2024's unique home-search trends, offering a window into what Americans wanted in their next home.

This year, Zillow enhanced its natural language search feature, allowing home shoppers to search for their next home as naturally as they would speak to family or friends. Buyers and renters can use everyday language instead of preset filters to search by commute time, affordability and nearby schools or points of interest. This new feature showed what Americans were prioritizing in their home search this year.