Los Angeles Youth Network Awarded International Accreditation
LOS ANGELES, Dec. 19, 2016 /PRNewswire-HISPANIC PR WIRE/ — Los Angeles Youth Network (LAYN), a local nonprofit serving runaway, homeless and foster youth is pleased to announce it has been awarded a three-year accreditation from the Commission on Accreditation of Rehabilitation Facilities (CARF), valid through 2019.
Three years is the maximum length of accreditation possible from CARF, an organization whose primary responsibility is to ensure that nonprofit agencies serving individuals living with disadvantaging conditions are meeting nationally-recognized program standards.
“CARF accreditation reflects that the practices of LAYN are based on high-quality standards and ensure that premium level services are provided to the youth we serve,” said Mark Supper, President & CEO of LAYN. “This achievement recognizes our continued excellence as an industry leader and the dedication of our staff to help improve the quality of life for our youth.”
LAYN’s staff, programs, facilities, business and ethical practices underwent a rigorous three-day review process, which evaluated 20 areas of exceptional performance. A CARF team of industry peers conducted the on-site survey to observe organizational practices, review documentation, and suggest ways to improve operations and service delivery.
Because CARF accreditation is designed to demonstrate a provider’s conformance to nationally and internationally accepted standards, accreditation can significantly reduce governmental monitoring, help to streamline regulation processes, and assist in identifying additional funding for an organization who meets the standards. A process that may take up to 14 months — LAYN was able to obtain accreditation in less than one year.
For more information on CARF, visit www.carf.org.
About Los Angeles Youth Network
Since 1985, Los Angeles Youth Network (LAYN) has served runaway, foster and other youth experiencing homelessness ages 12-21 that includes emergency, group and long-term housing. LAYN provides comprehensive programs and services teaching independent living skills and resources necessary for youth to lead productive lives, while offering a wide array of educational and enrichment programs. In addition, LAYN operates a high school in partnership with the Los Angeles Unified School District. For more information, visit www.layn.org.
About CARF
The mission of CARF is to promote the quality, value, and optimal outcomes of services through a consultative accreditation process and continuous improvement services that center on enhancing the lives of persons served.
Media Contact:
Raynetta Smith
Develop & Communications Manager
(323) 467-8466
[email protected]
Auto Care: An Easy Resolution That Makes Financial Sense
BETHESDA, Md., Dec. 19, 2016 /PRNewswire-HISPANIC PR WIRE/ — With the cost of a new vehicle on the rise, the non-profit Car Care Council reminds drivers that caring for your current vehicle is an easy new year’s resolution to keep, making more economic sense than purchasing a new one.
“During the holiday season, many people bust the budget and then resolve to save money in the coming year,” said Rich White, executive director, Car Care Council. “Many resolutions quickly go by the wayside, but it’s an easy decision to keep your current vehicle and maintain it at recommended intervals. Auto care makes financial sense, protecting the trade-in value and postponing the sting of new car prices.”
While the average price of a new passenger vehicle has risen to nearly $34,000 according to Kelley Blue Book, IHS Markit reports that the average vehicle age is now 11.6 years. The good news for car owners is that today’s vehicles are lasting longer than ever before and by following three simple auto care tips, they can protect their vehicle investment and address minor issues before they become more complicated, expensive repairs.
Regular Maintenance is Key. The best way to ensure a vehicle’s longevity is to observe a regular service schedule. Keep up with fluid and filter changes, tire checks and other routine maintenance. Over time, some car parts and components wear out or become damaged, so the smart investment is to replace these typical wear items before long-term damage ensues. In addition to the maintenance schedule outlined in the owner’s manual, the Car Care Council offers a free custom service schedule to help remind motorists of essential auto care intervals.
Heed the Warning Signs. Vehicles have ways of communicating that trouble may be on the horizon. Illuminated dashboard warning lights, such as the check engine light, indicate that key vehicle systems need inspection as soon as possible. Pay attention to any new or unusual vehicle sounds, such as squealing, thumping, hissing or grinding as they can indicate a problem. Unusual smells, such as burnt rubber, hot oil, gasoline, rotten eggs, burning carpet or the sweet smell of syrup can also indicate a serious problem.
Keep It Clean. Washing and waxing a vehicle on a regular basis protects its value. A thorough cleaning inside and out prevents the buildup of dirt and damaging chemicals that can harm the finish, reduces the potential for rust from road salt, and ensures proper visibility needed for safe driving.
The Car Care Council is the source of information for the “Be Car Care Aware” consumer education campaign promoting the benefits of regular vehicle care, maintenance and repair to consumers. For the latest car care news, visit the council’s online media room at http://media.carcare.org. To order a free copy of the popular Car Care Guide, visit the council’s consumer education website at www.carcare.org.
Rising Auto Claims Costs Put Upward Pressure On Price Of Insurance
NEW YORK, Dec. 19, 2016 /PRNewswire-HISPANIC PR WIRE/ — Over the past two years, U.S. auto insurance companies have seen private-passenger loss costs rise sharply as insurers receive more, and costlier, claims, according to the Insurance Information Institute (I.I.I.)
“There has been an alarming increase in crashes and claims reported. This, combined with the cost of the claims themselves, has led to a dramatic rise in the overall loss cost,” states a just-released I.I.I. white paper, Personal Automobile Insurance: More Accidents, Larger Claims Drive Costs Higher. The loss cost is the portion of an insurance policy’s price that is used to cover the cost of paying and adjusting claims.
The I.I.I.’s white paper notes that, between the first quarters of 2014 and 2016, collision claim frequency increased 2.6 percent while collision claim severity rose 8.2 percent. Other coverages, such as Personal Injury Protection (PIP), showed comparable claim frequency and severity increases. Frequency is the number of claims per 100 vehicles insured for a year; severity is the size of the average claim.
An improving economy put more cars on U.S. roadways as a growing number of Americans found employment, the I.I.I. found, citing federal data showing the miles driven annually grew in recent years for the typical driver.
Fatal crashes in the United States are also increasing. In fact, 35,092 people died in crashes in 2015, a 7.2 percent increase in deaths from 2014 according to National Highway Traffic Safety Administration (NHTSA). The last single-year increase of this magnitude occurred in 1966, when highway fatalities nationally rose 8.1 percent as compared to 1965. U.S. highway deaths have continued to rise in 2016, with fatalities up 10.4 percent in the first six months of 2016 as compared to the first-half of 2015, according to preliminary data from NHTSA.
“Until the past couple of years, the frequency of U.S. crashes had generally been dropping for many years while severity—the cost of paying these crash claims—was generally rising. Now they are both rising. That means private-passenger auto insurers are seeing more and costlier crashes, and that is why auto insurance costs are rising in many U.S. states,” said James Lynch, the I.I.I.’s chief actuary, who wrote the paper along with Dr. Steven Weisbart, the organization’s chief economist, and Dr. Robert Hartwig, special consultant to the I.I.I.
RELATED LINKS
Article: Auto Insurance Basics: Understanding Your Coverage
Facts and Statistics: Auto Insurance
Infographic: What Determines The Cost Of My Auto Insurance?
Issues Updates: Auto Crashes
The I.I.I. has a full library of educational videos on its You Tube Channel. Information about I.I.I. mobile apps can be found here.
THE I.I.I. IS A NONPROFIT, COMMUNICATIONS ORGANIZATION SUPPORTED BY THE INSURANCE INDUSTRY.
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BenefitVision Opens New Employee Benefits Enrollment and Administration Center in Puerto Rico
SAN JUAN, Puerto Rico, Dec. 19, 2016 /PRNewswire-HISPANIC PR WIRE/ — BenefitVision, Inc., a full-range provider of employee benefit enrollment, administration, and communication services, has opened an all new, state-of-the-art Employee Benefits Enrollment and Administration Center in San Juan, PR. The new facility has the capacity to host 160 benefit enrollment personnel and will feature the most extensive bilingual support in the industry. It will also provide a cost-effective resource to support BenefitVision’s comprehensive slate of benefits services.
The BenefitVision-Puerto Rico (BVI-PR) facility is located at the Hato Rey Center, a premier location in the heart of San Juan’s business district. The Center is staffed by fluent bilingual benefit representatives who hold health and life insurance licensing across the United States. They will work to support BenefitVision’s clients in Puerto Rico as well as the 50 states.
John Resor, President of BenefitVision, noted, “Operationally, our technical support for clients will be delivered seamlessly, coordinated through our phone and online enrollment systems, across the United States.”
BVI-PR has already begun support for the enrollment of the health plan promoted by the Teachers Union in Puerto Rico (AMPR). The center is now launching support for the 120,000 retirees of the government, sponsored by the Pensionados (Retirees Association).
BVI-PR hours will be from 9 AM to 1 AM each workday to support BenefitVision’s practice of providing enrollments from 9 AM to 9 PM, coast to coast.
About BenefitVision
Founded in 1994, BenefitVision offers a full range of employee benefit enrollment, administration, and communication services. The company’s primary focus is centered on effective communication of plan benefits, features, and choices to employees. BenefitVision offers fully customizable programs that help employers control rising healthcare costs while retaining satisfied employees.
BenefitVision delivers its services through offices in Los Angeles, an Enrollment Center in Harrisburg, PA, and now through BVI-PR located in San Juan, Puerto Rico.
Contact for journalists:
Virginia Eanes
BenefitVision, Inc.
2690 Commerce Drive, Suite 200
Harrisburg, PA 17110
800.810.2200 Ext 1115
If you have any questions regarding information in these press releases please contact the company listed in the press release. Our complete disclaimer appears here
Acura Celebrates New NSX Owners with Customized Films Tied to Each Unique, Built-to-Order Supercar
TORRANCE, California, Dec. 19, 2016 /PRNewswire-HISPANIC PR WIRE/ — As owners of the 2017 Acura NSX begin taking delivery across the U.S., Acura has revealed a new campaign – “NSX Originals” – that brings each unique, built-to-order supercar to life in a customized, digital film. Owners will begin receiving their custom films today.
Each owner film is customized to match the exact specs and options tied to their specific NSX, and features that vehicle’s unique serial number. See Jay Leno’s custom NSX, serial number three, at https://www.nsxoriginals.com/acura/en/explore/0003/
There are seven distinct versions of the film, each showcasing the power, dynamism and beauty of the NSX, alongside a unique development technology or manufacturing process that helped bring it to life. The campaign celebrates the originality of the concept behind NSX, or New Sports eXperience. All “NSX Originals” custom owner films, including those tied to vehicles delivered to date, are featured on a new microsite, www.nsxoriginals.com.i
“The Acura NSX is a bespoke supercar inspired by an original concept, and this campaign speaks directly to that heritage,” said Jon Ikeda, vice president and general manager of Acura.
The campaign was developed by mcgarrybowen London, and is one of several customized perks of NSX ownership, including a custom 1:18 scale model, again crafted with exact exterior paint color, interior scheme, and factory installed features (carbon fiber pieces, brake calipers, custom wheels, etc.) as each unique NSX.
Performance Manufacturing Center and NSX Technologies Highlighted
Keyed to seven unique manufacturing processes, the NSX Originals video series offers a behind-the-scenes look at the Performance Manufacturing Center in Marysville, Ohio, the exclusive manufacturing home to the next-generation NSXii.
The seven processes detailed in the NSX Originals films are: Precision Robotic Weld technology, space frame construction, Zirconium Bath, state-of-the-art paint robotics, Three-Motor Sport Hybrid power unit, NSX custom hand assembly and the NSX Rolling Dynamometer.
- Precision Robotic Weld Technology: The aluminum-intensive, multi-material NSX space frame and body is constructed entirely in-house, using advanced robotic MIG welding to ensure the highest levels of body accuracy and rigidity to support the NSX’s incredible performance and world-class quality.
- Space Frame Construction: The NSX space frame uses the optimal blend of materials, including aluminum, carbon fiber and ultra-high strength steel, to deliver incredible rigidity, low weight and precision-crafted performance.
- Zirconium Bath: Every NSX space frame gets bathed in an environmentally friendly zirconium material that virtually eliminates waste from the coating process while protecting the aluminum-intensive structure from the elements.
- State-of-the-art Paint Robotics: The NSX body is painted using start-of-the-art robotics as the first step in producing a truly world-class finish. This all-glass paint booth allows customers to see their NSX body in the finishing process.
- Three-motor Sport Hybrid Power Unit: The NSX’s revolutionary power unit is composed of a 75-degree DOHC twin-turbocharged V6, rear Direct Drive electric motor and 9-speed Dual Clutch Transmission, and front-mounted Twin-Motor Unit.
- NSX Custom Hand Assembly: Each NSX is hand assembled by 16 highly skilled technicians to meticulous standards of quality at the bespoke Performance Manufacturing Center.
- NSX Rolling Dynamometer: Each NSX undergoes rigorous testing to verify its dynamic capabilities before it leaves the Performance Manufacturing Center, including four corner weight checks and dynamic validation of power unit and braking performance.
Learn more about the NSX philosophy, technology and dynamics, and a get more detailed look inside the Performance Manufacturing Center at acura.com/NSX.
About Acura
Acura is a leading automotive luxury nameplate that delivers Precision Crafted Performance, an original approach to technology and design that creates a new driving experience. On March 27, 2016, Acura celebrated the 30th anniversary of its launch as the first luxury nameplate from a Japanese automaker.
The Acura lineup features six distinctive models – the RLX premium, luxury sedan, the TLX performance luxury sedan, the ILX sport sedan, the 5-passenger RDX luxury crossover SUV, and the seven-passenger Acura MDX, America’s all-time best-selling three-row luxury SUV. This spring, Acura launched its next-generation, electrified NSX supercar as a new and pinnacle expression of Acura Precision Crafted Performance.
For More Information
Consumer information is available at www.acura.com. To join the Acura community on Facebook, visit facebook.com/Acura. Additional media information including pricing, features and high-resolution photography is available at acuranews.com/channels/acura-automobiles
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i Microsite is regional, showcasing only vehicles delivered in the specific region from which the website is accessed.
ii NSX is manufactured in Ohio using domestic and globally sourced parts.
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Honda to Debut All-New 2018 Odyssey Minivan at 2017 North American International Auto Show
DETROIT, Dec. 19, 2016 /PRNewswire-HISPANIC PR WIRE/ — The all-new 2018 Honda Odyssey minivan will make its global debut at the 2017 North American International Auto Show on January 9. The 5th-generation 2018 Honda Odyssey has been completely redesigned and will feature new powertrain technology, sophisticated styling and showcase a new suite of innovative features, making it the ultimate in family-friendly design and packaging. The Honda press conference will take place at 12:00 p.m. EST on January 9, 2017.
An official teaser sketch of the all-new Odyssey was released today, along with four “teaser scribbles” from children of the Ohio-based Odyssey Development Team. These “scribbles” represent bold and youthful design, but the company admits adopting these futuristic illustrations “as is” from these doodling designers could present a variety of real world challenges, so more testing and validation will be required.
“We wanted to have a bit of fun by sharing some of the drawings from children of the Odyssey team members, since they were inspirational in shaping the family-friendly direction of the all-new Odyssey,” said Chad Harrison, chief engineer at Honda R&D America and the development leader of the new Odyssey.
Through five generations, the Honda Odyssey has consistently met the evolving needs of American families. The most popular minivan with individual American car buyers for six years running, the Odyssey is leading again in 20161. In addition, the Honda Odyssey has been the most popular minivan with under-35-year-old buyers in every year since 20102, and American car buyers have purchased nearly 2.5 million Odyssey minivans since its 1994 debut.
About Honda
Honda offers a full line of reliable, fuel-efficient and fun-to-drive vehicles with advanced safety technologies sold through over 1,000 independent U.S. Honda dealers. The Honda lineup includes the Fit, Civic and Accord passenger cars, along with the HR-V, CR-V and Pilot sport/utility vehicles, the Ridgeline pickup and the Odyssey minivan. Honda has been producing automobiles in America for 34 years and currently operates 19 major manufacturing facilities in North America. More than 96 percent of all Honda vehicles sold in the U.S. in 2016 have been manufactured in North America, using domestic and globally sourced parts.
1 Based on IHS Markit, U.S. new retail vehicle registrations by volume for Non-Luxury Mid Size Van segment for CYTD2010 – CYTD2016 through October.
2 Based on IHS Markit, U.S. new personal vehicle registrations by volume for Non-Luxury Mid Size Van segment and the age of head of household data for 18-34 year olds for CY2010 – CYTD2016 through October.
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U.S. Cyber Insurance Market Grows Amid Data Breach Concerns
NEW YORK, Dec. 15, 2016 /PRNewswire-HISPANIC PR WIRE/ — U.S. insurers are becoming more skilled at underwriting and pricing stand-alone cyber insurance policies as businesses show a greater interest in protecting themselves from data breaches and attacks, according to the Insurance Information Institute (I.I.I.).
“More than 60 carriers offer stand-alone cyber insurance policies, and it is estimated the U.S. market is worth over $3.25 billion in gross written premiums in 2016, with some estimates saying it has the potential to grow to $7.5 billion,” write Dr. Robert Hartwig, special consultant to the I.I.I., and Claire Wilkinson, author of the I.I.I.’s award-winning Terms + Conditions blog. They are the co-authors of the I.I.I.’s newly released white paper, Cyber Risk: Threat and Opportunity.
Cyber incidents were ranked as the third-highest global business risk in 2016, Allianz’s Risk Barometer determined. The average cost of a breach in the United States reached $7 million in 2016, a Ponemon Institute survey cited in the I.I.I.’s report found. Most traditional commercial general liability policies do not cover cyberrisks.
Tailored to a business’ specific needs, a stand-alone cyber insurance policy typically offers the following coverages, the I.I.I.’s white paper explains:
Liability—Covers the costs (e.g., legal fees, court judgements) incurred after a cyberattack, such as data theft, or the unintentional transmission of a computer virus to another party, causing them financial harm.
Crisis Management—Covers the cost of notifying consumers about a data breach that resulted in the release of private information, and providing them with credit monitoring services, as well as the cost of retaining a public relations firm or launching an advertising campaign to rebuild a company’s reputation.
Directors & Officers (D&O)/Management Liability—Covers the cyber liability risks faced individually by a company’s key decision makers while acting on behalf of the company.
Business Interruption–Covers loss of income due to an attack on a company’s network that limits its ability to conduct business.
Cyber Extortion—Covers the “settlement” of an extortion threat against a company’s network, as well as the cost of hiring a security firm to track down the blackmailers.
Loss/Corruption Of Data—Covers damage to, or destruction of, valuable information assets as a result of “viruses, malicious code and Trojan horses,” the white paper states.
Criminal Rewards—Covers the cost of posting a criminal reward fund for information leading to the arrest and conviction of a criminal who has attacked a company’s computer systems.
Data Breach—Covers the expenses and legal liability resulting from a data breach.
Identity Theft—Provides access to an identity theft call center in the event of stolen customer or employee personal information.
Cyberrisks, however, remain challenging for insurers to underwrite, Dr. Hartwig and Ms. Wilkinson acknowledge. The three reasons the paper cites include the constantly changing range of perpetrators, targets and exposure values; a lack of historical actuarial data; and the interconnected nature of cyberspace, which makes it difficult for insurers to assess the likely severity of cyberattacks.
The I.I.I. has a full library of educational videos on its You Tube Channel. Information about I.I.I. mobile apps can be found here.
THE I.I.I. IS A NONPROFIT, COMMUNICATIONS ORGANIZATION SUPPORTED BY THE INSURANCE INDUSTRY.
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Arendal Announces Offer to Exchange its 10.50% Medium-Term Notes Due 2016 For 11.5% Senior Secured Notes Due 2021
MEXICO CITY, Dec. 16, 2016 /PRNewswire-HISPANIC PR WIRE/ — Arendal, S. de R.L. de C.V. (“Arendal” or “the Company”), a Mexican engineering, procurement and construction company, today announced that it has commenced an offer to exchange (the “Exchange Offer”) its outstanding 10.50% Medium-Term Notes due 2016 (the “Old Notes”) for its 11.5% Senior Secured Notes due 2021 (the “New Notes”), subject to certain conditions including the condition that holders of at least 95% in aggregate principal amount of the Old Notes participate in the Exchange Offer, as further described below. The New Notes will contain restrictive covenants that are substantially similar to the restrictive covenants in the Old Notes. The New Notes will mature on June 30, 2021 and will be secured by liens on the Company’s collection rights and cash flows generated from one of the Company’s existing development projects and from future development projects (the “Collateral”), in each case subject to certain limitations including any first-priority security interest securing related project debt. The holders of the New Notes and the holders of certain other debt of the Company, which is being restructured simultaneously with the Exchange Offer, will share the security interest in the Collateral on an equal and ratable basis and will be entitled to share ratably in any proceeds generated by the Collateral.
The Exchange Offer is being made only to holders of Old Notes (the “Holders”), pursuant to the Information Memorandum dated December 14, 2016 (the “Information Memorandum”) which contains further details on the terms and conditions of the Exchange Offer. The Exchange Offer for the Old Notes is scheduled to expire at 12:00 midnight, New York City time, on January 12, 2016 (the “Expiration Time”), unless extended by the Company, and settlement will occur as soon as practicable following the Expiration Time.
For each US$1,000.00 stated face value of Old Notes, tendering holders of Old Notes will, on the settlement date for the Exchange Offer, receive New Notes with a principal amount equal to US$1,038.542 plus an additional principal amount (the “Additional Principal Amount”) representing the amount of interest accrued on such Old Notes, at a rate of 12.5% per annum, from and including December 14, 2016 to, but not including, the settlement date.
No other payments, including in respect of principal, interest (including accrued or default interest other than the Additional Principal Amount as described above) or additional amounts (if any), will be required to be paid to Holders.
The principal objective of the Exchange Offer is to refinance the Old Notes and avoid a potential concurso mercantil proceeding in Mexico. The Company does not have the means to repay the amounts that are payable under the Old Notes. The Company believes that it is currently not likely to find a material source of financing to fund the interest and principal payments on the Old Notes and that the completion of the Exchange Offer is critical to resolving its constrained liquidity and ensuring its continued viability. The Company also believes that the Exchange Offer would benefit both Holders and the Company by helping the Company to avoid contentious litigation that could cause business disruptions or damage to the overall value of its business. In addition, the terms of the New Notes provide that the Company will not, and will not permit any of its subsidiaries to, directly or indirectly make any payment of principal, interest or otherwise in respect of the Old Notes unless the holder of such Old Notes obtains a final non-appealable judgment in its favor.
The Company reserves the right, subject to applicable law and to a restructuring support agreement entered into with certain holders of Old Notes, to extend or terminate the Exchange Offer, or otherwise amend the terms of the Exchange Offer. If any tendered Old Notes are not accepted for exchange, such Old Notes will be returned without expense to the tendering holder.
The consummation of the Exchange Offer is subject to the conditions set forth in the Information Memorandum, which the Company may assert or waive in full or in part subject to certain limitations, including the condition that at least 95% in aggregate outstanding principal amount of the Old Notes (including any Old Notes which are owned by the Company or its affiliates) be validly tendered and not validly withdrawn on or prior to the Expiration Time.
Interest on the New Notes will accrue at the rate of 11.5% per annum (or, in the case of interest that is elected to be capitalized pursuant to the PIK Option (defined below), 12.5%) and will be payable quarterly in arrears on March 31, June 30, September 30 and December 31 of each year, commencing on March 31, 2017 (each, an “Interest Payment Date”). The Company may elect to exercise its option to pay a portion of the interest on the New Notes due on each Interest Payment Date by capitalizing such interest and adding it to the principal amount of the New Notes (the “PIK Option”) for interest periods ending on or prior to June 30, 2019. The principal of the New Notes will be amortized in 8 installments on March 31, June 30, September 30 and December 31 of each year, commencing on September 30, 2019.
The complete terms and conditions of the Exchange Offer are described in the Information Memorandum, copies of which may be obtained by eligible holders by contacting Epiq Corporate Restructuring, the information and exchange agent for the Exchange Offer, via email at [email protected] (please reference “Arendal” in the subject line).
This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any securities. The Exchange Offer is being made and the New Notes are being offered only to “qualified institutional buyers,” holders that are not “U.S. persons” and certain institutional investors that are “accredited investors” as such terms are defined under the Securities Act. The New Notes have not been registered under the Securities Act or under any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act, and, accordingly, are subject to significant restrictions on transfer and resale as more fully described in the Information Memorandum. The Exchange Offer is subject to the terms and conditions set forth in the Information Memorandum.
About Arendal
Arendal is a procurement and construction company operating in Mexico. Arendal provides a full range of procurement and construction services, including feasibility studies, acquisition of rights of way, conceptual design, engineering, procurement, project and construction management, construction, maintenance, technical site evaluations and other consulting services.
Forward-Looking Statements
This release contains certain forward-looking statements regarding the future events or the future financial performance of Arendal. These statements reflect management’s current views with respect to future events or financial performance, and are based on management’s current assumptions and information currently available and are not guarantees of the Company’s future performance. The timing of certain events and actual results could differ materially from those projected or contemplated by the forward-looking statements due to a number of factors including, but not limited to those inherent to operating in a highly regulated industry, strong competition, commercial and financial execution and economic conditions, among others.