I have had the privilege to work for The Royal Mint for almost 10 years and it is testament to the great colleagues and opportunities I have had, that I have been able to develop the skills that enable me to take on this role. The Royal Mint today appointed Anne Jessopp as its new chief executive and Deputy Master of the Mint. She will lead work to provide Britain with its cutting-edge secure currency and will also develop the commemorative coin and bullion arm of the business.On a visit to the Royal Mint, the Exchequer Secretary officially confirmed Anne Jessopp’s appointment – the first female to take up the role in the Royal Mint’s 1,100 year history.Speaking of her new appointment, the Deputy Master of the Mint, Anne Jessopp said: One of the most famous Masters of the Mint, before it was made a political position was Sir Isaac Newton, who had previously held the position between 1700-27. It may have taken over 1,000 years but the Mint is now finally led by a woman, and I am certain Anne will do a great job. Anne Jessopp brings a wealth of expertise to this role. With her decade of experience at the Royal Mint, I am confident she will ensure the UK continues to have the most secure currency in the world, and our coins are loved and collected the world over. The Exchequer to the Secretary to the Treasury, Robert Jenrick welcomed the appointment and said: What does the Deputy Master of the Mint do?As chief executive of the Royal Mint, Anne will be tasked with running the Great British institution which produces up to 90 million coins every week. At the top of her in-tray will be overseeing the introduction of the new 50 pence coin, announced last week, to mark the centenary celebrations of women’s suffrage.Her official position as Deputy Master of the Mint is one that is steeped in history. Her first ceremonial role will be to lead the annual Trial of the Pyx.First held in 1282, the Trial of the Pyx tests the integrity of the nation’s coins, ensuring that they are the proper weight and size, and contain the right amount of precious metals. Every February, coins of each denomination struck by the Royal Mint are selected at random and locked away in the Pyx chests.In a ceremony, which has not changed since before Henry VIII’s reign, the Deputy Master of the Mint brings these chests to London’s Goldsmiths’ Hall, where the coins are checked by an independent jury. The Jury consists of leaders from the financial world and six assayers from the Worshipful Company of Goldsmiths who, wearing traditional red robes, put the coins to the test.After two months of rigorous testing, the trial reconvenes and the Queen’s Remembrancer asks the Jury for its verdict. In May, this verdict will be given in the presence of the Deputy Master of The Royal Mint and the Chancellor of the Exchequer (or a representative).Remarkably, the history books reveal that if the coins fail the test, the Chancellor of the Exchequer, who is the ceremonial Master of the Mint, risks losing a hand as punishment.It should be made clear that in the trial’s long history, 94 Minters have had their right hands cut off by order of the King. However, this has not happened for hundreds of years.Notes to editors: I am delighted to be appointed to lead this unique and important British organisation. The Royal Mint has an impressive history of over 1,100 years and its longevity is due to its ability to adapt as society changes. This was never truer than today, as we reinterpret The Royal Mint for the 21st century, building on the values that have been at the heart of the organisation throughout our history – authenticity, security, precious metals, craftsmanship and design.
Merchants Bancshares, Inc. Announces Special Dividend and TrustPreferred Securities IssuanceSOUTH BURLINGTON, VT – The Board of Directors of Merchants Bancshares, Inc.(NASDAQ: MBVT), the parent company of Merchants Bank, today declared a specialcash dividend of $4.50 per share payable December 17, 2004 to shareholders of record asof the close of business on December 10, 2004. The total amount of this special dividendwill be approximately $28.10 million. After looking at several alternatives, MerchantsBoard of Directors has determined that the lower tax rates on dividends provide anopportunity for Merchants to return capital to its shareholders in the form of a specialdividend in a simple, fair and transparent process. Merchants has decided to moveforward with a special dividend as the optimal capital management alternative. Merchantswill remain well capitalized under applicable regulatory guidelines after the specialdividend. Merchants hereby notifies participants in its dividend reinvestment plan that itis temporarily suspending its dividend reinvestment plan, effective as of the date hereofthrough December 18, 2004, in order to permit payment of the special dividend. Alldividend payments will be made in the form of a check.Merchants also plans to participate in a private placement of $20 million of trustpreferred securities, through a newly formed Delaware statutory trust affiliate ofMerchants. The transaction will be part of a pooled trust preferred program. Keefe,Bruyette & Woods, Inc. and FTN Financial Capital Markets, a division of FirstTennessee Bank, N.A., will serve as placement agents in the offering. These hybridsecurities are expected to qualify as regulatory capital for Merchants, up to certainregulatory limits. At the same time they are considered debt for tax purposes, and as such,interest payments are fully deductible. While trust preferred securities have been aregulatory capital funding option for bank holding companies since 1996, there has beenno prior time period where an equivalent level of relative cost effectiveness has existedversus alternative funding options. Upon issuance, the trust preferred securities will bearinterest at a fixed rate for five years, and after five years, the rate will adjust quarterly.The trust preferred securities mature on December 31, 2034, and are redeemable at theCompanys option beginning after five years from issuance. The proceeds from the saleof the trust preferred securities will be used for general corporate purposes, allowingMerchants to pay the special dividend, and at the same time continuing to pursuealternative growth opportunities.Merchants estimates that the payment of the dividend and the issuance of the trustpreferred securities will reduce 2005 net interest income on an after tax basis byapproximately $1.06 million, or approximately 17 cents per share.Mr. Joseph Boutin, President and Chief Executive Officer and Ms. Janet Spitler, ChiefFinancial Officer, will host a conference call to discuss this special dividend payment anddebt issuance at 9:00 a.m. Eastern Time on Friday, December 3, 2004. Interested partiesmay participate in the conference call by dialing (888) 428-4480, the title of the call isSpecial Dividend Conference Call for Merchants Bancshares, Inc. Participants are askedto call in a few minutes prior to the call in order to register. A replay will be availablethrough December 17, 2004. The U.S. replay dial-in number is (800) 475-6701. Theinternational replay dial-in number is (320) 365-3844. The replay access code, regardlessof dial-in location, is 759060.The mission of Merchants Bank is to provide best-in-class community banking servicesin the state of Vermont. This commitment is fulfilled through a community, branch-based,system that includes 35 bank offices throughout Vermont, employees dedicated toquality customer service, and innovative banking products such as Free Checking forLife ®, MoneyLYNX ® money market accounts, and CommerceLYNX ® business bankingproducts. Merchants Bank also includes a trust and investment division, known asMerchants Trust Company, serving individuals and institutions. For more informationabout Merchants Bank visit our website at www.mbvt.com(link is external). Merchants stock is traded onthe NASDAQ National Market system under the symbol MBVT. Member FDIC.Some of the statements contained in this press release constitute forward-lookingstatements. Forward-looking statements relate to expectations, beliefs, projections, futureplans and strategies, anticipated events or trends and similar expressions concerningmatters that are not historical facts. The forward-looking statements reflect Merchantscurrent views about future events and are subject to risks, uncertainties, assumptions andchanges in circumstances that may cause Merchants actual results to differ significantlyfrom those expressed in any forward-looking statement. Forward-looking statementsshould not be relied on since they involve known and unknown risks, uncertainties andother factors that are, in some cases, beyond Merchants control and which couldmaterially affect actual results. The factors that could cause actual results to differmaterially from current expectations include changes in general economic conditions inVermont, changes in interest rates, changes in competitive product and pricing pressuresamong financial institutions within Merchants markets, and changes in the financialcondition of Merchants borrowers. The forward-looking statements contained hereinrepresent Merchants judgment as of the date of this report, and Merchants cautionsreaders not to place undue reliance on such statements. For further information, pleaserefer to Merchants reports filed with the Securities and Exchange Commission.
Reigning heavyweight champion of the world Anthony Joshua believes a showdown between himself and WBC heavyweight champion Deontay Wilder is the fight boxing needs.Joshua made his stand known days after stopping the teak-tough Carlos Takam in the 10th round at Cardiff’s sold-out Principality Stadium to retain his WBA, IBO and IBF titles.As mixed reactions continue to trail his victory following the rather early stoppage of the fight by referee Phil Edwards, Joshua already has his sights on the bigger challenge, calling out motormouth American Wilder for a lavish showdown.Wilder, 31, who defends his belt in a return clash against Bermane Stiverne next weekend will be hoping to add to his unblemished record after 38 fights, that includes an astonishing 37 stoppages.In his words “Yeah, boxing needs it. One hundred percent”The champ also added that:“It has to happen. We’re easy to work with. Eddie (Hearn) knows what he’s doing. Eddie just wants to keep a lid on his [Wilder’s] jar and say, ‘wow, calm down’.“We can fill it up to the top and maybe spill a little bit over but we’re not filling up the second jar.”RelatedEddie Hearn Calls Out Deontay Wilder For ‘kicking Joshua while he’s down’June 2, 2019In “Boxing”Anthony Joshua Takes Time Off As He Awaits Next FightDecember 7, 2018In “Boxing”Tyson Fury, a True Champion who Sparks up Heavyweight BoxingDecember 3, 2018In “Boxing”
PNG Netball presidentJulienne LekaMaliakitoday said selectors were still finalizing the squad that will be selected from last month’s 2015 Digicel national netball championships.She said the focus of the championships was to select the strongest team for the championships in Auckland, New Zealand.The last championships were held in 2013 in Glasgow, with New Zealand taking the title after beating Australia.The eventfor strictly only national U21 teams is held every four years.Maliaki said a lot of raw talent had been identified at the Alotau Championships which she was very impressed with.