Artificial Intelligence
STEEP DROP IN MORTGAGE LENDING CONTINUES ACROSS U.S. IN THIRD QUARTER, HITTING THREE-YEAR LOW
ATTOM, a leading curator of real estate data nationwide for land and property data, today released its third-quarter 2022 U.S. Residential Property Mortgage Origination Report, which shows that 1.97 million mortgages secured by residential property (1 to 4 units) were originated in the third quarter of 2022 in the United States. That figure was down 19 percent from the second quarter of 2022 – the sixth quarterly decrease in a row – and down 47 percent from the third quarter of 2021 – the biggest annual drop in 21 years.
The continued decline in residential lending resulted from double-digit downturns in both refinance and purchase loan activity that far outweighed another increase in home-equity credit lines.
Overall, lenders issued $636.5 billion worth of mortgages in the third quarter of 2022. That was down quarterly by 22 percent and 46 percent annually. As with the number of loans, the annual decrease in the dollar volume of mortgages stood out as the largest since at least 2001 and was the latest sign that the 11-year U.S. housing market boom is losing steam.
“There are no surprises in this quarter’s loan origination numbers, as the unprecedented jump in mortgage rates has battered both the purchase and refinance markets,” said Rick Sharga, executive vice president of market intelligence at ATTOM. “Prospective homebuyers have been priced out of the market by the combination of 7 percent mortgage rates and higher home prices. And refinance activity will probably continue to decline, since the majority of homeowners have loans with sub-4 percent interest rates.”
The continued dip came as just 661,000 residential loans were rolled over into new mortgages and borrowers took out only 943,000 loans to buy homes during the third quarter of 2022.
During a period when mortgage interest rates continued to climb, refinancing activity was down 31 percent from the second quarter of 2022 and 68 percent from a year earlier. Refinancing activity has dropped for six consecutive quarters, to a level that is just one-quarter of what it was in early 2021. The dollar volume of refinance loans in the period running from July through September was down 33 percent from the prior quarter and 67 percent annually, to $212 billion.
The number of purchase loans, meanwhile, slumped by 16 percent quarterly and 33 percent annually, while the dollar volume decreased to $353.9 billion.
Only a 5 percent quarterly jump in the number and value of HELOCs – the third quarterly straight gain – kept the industry from seeing an across-the-board contraction.
By the end of the third quarter, refinance activity represented just a third of overall mortgages, compared to two-thirds as recently as the first quarter of last year. Purchase lending continued at just under half of all activity in the third quarter of 2022, while home-equity packages comprised one of every five mortgage deals completed. That ratio for so-called HELOC loans was up from one of every 21 a year and a half ago.
The most recent mortgage numbers are among the strongest reflections yet of a U.S. housing market that has cooled considerably after 11 years of nearly uninterrupted gains.
Total mortgages drop at fastest annual pace since 2001
Banks and other lenders issued 1,968,930 residential mortgages in the third quarter of 2022. That was down 18.7 percent from 2,421,540 in the second quarter of 2022 and down 46.9 percent from 3,708,000 in the third quarter of 2021. The annual decline marked the largest since at least 2001. The $636.5 billion dollar volume of loans in the third quarter was down 22.4 percent from $819.9 billion in the prior quarter and was 46.4 percent less than the $1.19 trillion lent in the third quarter of 2021.
Overall lending activity decreased from the second quarter of 2022 to the third quarter of 2022 in 206, or 98 percent, of the 210 metropolitan statistical areas around the U.S. with a population of more than 200,000 and at least 1,000 total residential mortgages issued in the third quarter of 2022. Total lending activity was down at least 15 percent in 116 of the metros with enough data to analyze (55 percent). The largest quarterly decreases were in Myrtle Beach, SC (total lending down 52.7 percent); Knoxville, TN (down 44.5 percent); Charleston, SC (down 43 percent); Ogden, UT (down 41 percent) and Buffalo, NY (down 36.2 percent).
Aside from Buffalo, metro areas with a population of least 1 million that had the biggest decreases in total loans from the second quarter to the third quarter of 2022 were St. Louis, MO (down 35.8 percent); Miami, FL (down 30.4 percent); Washington, DC (down 30.1 percent) and San Jose, CA (down 28.2 percent).
The biggest increases, or smallest decreases, in the total number of mortgages from the second quarter to the third quarter of 2022 were in Hartford, CT (up 5 percent); Syracuse, NY (up 0.8 percent); Claremont–Lebanon, NH (up 0.8 percent); Warner Robins, GA (up 0.6 percent) and York, PA (down 0.6 percent).
No metro areas with a population of at least 1 million aside from Hartford saw total loan originations increase from the second to the third quarter of this year.
Refinance mortgage originations slump to lowest point since early 2019
Lenders issued 660,767 residential refinance mortgages in the third quarter of 2022 – the smallest count since the first quarter of 2019.
The latest number was down 31 percent from 957,515 in second quarter of 2022, 67.9 percent from 2,059,465 in the third quarter of 2021 and 75.3 percent from a peak of 2,680,523 hit in the first quarter of last year. It fell for the sixth straight quarter, the longest run of declines this century. The $212 billion dollar volume of refinance packages in the third quarter of 2022 was down 33 percent from $316.4 billion in the prior quarter and down 67.1 percent from $645.2 billion in the third quarter of 2021.
Refinancing activity decreased from the second quarter of 2022 to the third quarter of 2022 in 208, or 99 percent, of the 210 metropolitan statistical areas around the country with enough data to analyze. Activity dropped quarterly by at least 25 percent in 131 metro areas (62 percent). The largest quarterly decreases were in Myrtle Beach, SC (refinance loans down 62 percent); Buffalo, NY (down 59.4 percent); Salinas, CA (down 54.7 percent); Knoxville, TN (down 52.4 percent) and Charleston, SC (down 49.5 percent).
Aside from Buffalo, metro areas with a population of least 1 million that had the biggest decreases in refinance activity from the second quarter to the third quarter of this year were Washington, DC (down 46.9 percent); New York, NY (down 46 percent); Miami, FL (down 45.5 percent) and St. Louis, MO (down 45 percent).
The only metro areas where refinance lending increased from the second quarter to the third quarter were Sioux Falls, SD (up 11.4 percent) and Hartford, CT (up 3.2 percent).
Purchase mortgages decrease for fourth time in last five quarters
Lenders originated 943,242 purchase mortgages in the third quarter of 2022. That was down 15.6 percent from 1,116,939 in the second quarter – the fourth drop in the last five quarters. It also was down 32.7 percent from 1,401,578 in the third quarter of 2021 – the biggest annual decline this century. The $353.9 billion dollar volume of purchase loans in the third quarter of 2022 was down 18.9 percent from $436.2 billion in the prior quarter and down 28.4 percent from $494 billion a year earlier.
Residential purchase-mortgage originations decreased from the second quarter of 2022 to the third quarter of 2022 in 173 of the 210 metro areas in the report (82 percent) and dipped annually in 206 metro areas (98 percent).
The largest quarterly decreases were in Myrtle Beach, SC (purchase loans down 50.8 percent); Ogden, UT (down 47.6 percent); Naples, FL (down 41.8 percent); Charleston, SC (down 41.3 percent) and Knoxville, TN (down 40.1 percent).
Metro areas with a population of at least 1 million that saw the biggest quarterly decreases in purchase originations in the third quarter of 2022 were St. Louis, MO (down 30.3 percent); San Jose, CA (down 30.3 percent); San Francisco, CA (down 29.3 percent); Los Angeles, CA (down 28.6 percent) and Miami, FL (down 28.5 percent).
Residential purchase-mortgage lending increased most from the second quarter to the third quarter of 2022 in Syracuse, NY (up 24.9 percent); Claremont–Lebanon, NH (up 24.3 percent); Rochester, NY (up 20 percent); Dayton, OH (up 18.9 percent) and Kalamazoo, MI (up 15.7 percent).
Aside from Rochester, metro areas with a population of at least 1 million where purchase originations rose most from the second to the third quarter were Minneapolis, MN (up 11.9 percent); Hartford, CT (up 6.1 percent); Grand Rapids, MI (up 5.2 percent) and Pittsburgh, PA (up 0.5 percent).
HELOC lending up for fifth time in six quarters
A total of 364,921 home-equity lines of credit (HELOCs) were originated on residential properties in the third quarter of 2022, up 5.1 percent from 347,086 in the prior quarter and up 47.8 percent from 246,957 in the third quarter of 2021. HELOC activity increased for the fifth time in six quarters after it had decreased in each of the prior six quarters. The $70.5 billion third-quarter 2022 volume of HELOC loans was up 4.7 percent from $67.3 billion in the second quarter of 2022 and 47.5 percent from $47.8 billion in the third quarter of last year, hitting the highest point in four years.
HELOCs comprised 18.5 percent of all third-quarter 2022 loans – almost four times the 4.8 percent level from the first quarter of 2021.
“While HELOC activity has dramatically increased over the past few quarters, its growth rate slowed down significantly on a quarter-to-quarter basis, which raises the question of whether we might be at or near a cyclical peak in HELOC activity,” Sharga added. “Even with the recent increases, HELOC volume is still nowhere near the record level of activity we saw in the mid-2000s during the run-up to the financial crisis.”
The largest increases in metro areas with a population of at least 1 million were in New Orleans, LA (home-equity loans up 52.8 percent); Houston, TX (up 47.5 percent); Dallas, TX (up 35.4 percent); Tucson, AZ (up 32.8 percent); and Atlanta, GA (up 30.9 percent).
The largest quarterly decreases in HELOCs among metro areas with a population of at least 1 million were in Buffalo, NY (down 31.9 percent); St. Louis, MO (down 26.7 percent); Honolulu, HI (down 14.5 percent); San Jose, CA (down 10.9 percent) and Rochester, NY (down 9.1 percent).
FHA and VA loan portions tick upward
Mortgages backed by the Federal Housing Administration (FHA) rose as a portion of all lending for the fourth straight quarter, accounting for 224,021, or 11.4 percent, of all residential property loans originated in the third quarter of 2022. That was up from 10.7 percent in the second quarter of 2022 and 9.3 percent in the third quarter of 2021.
Residential loans backed by the U.S. Department of Veterans Affairs (VA) accounted for 103,314 or 5.2 percent, of all residential property loans originated in the third quarter of 2022. That was up from 5.1 percent in the previous quarter but still down from 6.3 percent a year earlier. VA lending as a portion of all loans rose after seven consecutive quarterly declines.
Typical amount borrowed to finance purchase decreases to three-year low
The median amount borrowed nationwide to buy a home went down in the third quarter of 2022 for the first time in three years, while the typical down payment on homes purchased with financing also decreased. At the same time, the ratio of median down payments to home prices went down.
Among homes purchased with financing in the third quarter of 2022, the median loan amount was $315,000. That was down 4.5 percent from $330,000 the prior quarter, following 10 straight increases. However, it was still up 4.2 percent from $302,197 in the same period in 2021. The median down payment on single-family homes and condos purchased with financing in the third quarter of 2022 decreased to $34,975, down 12.5 percent from $39,980 in the previous quarter, although still up 11.9 percent from $31,250 in the third quarter of 2021.
The typical down payment in the third quarter of this year represented 9.3 percent of the purchase price, down from 10.2 percent in the prior quarter but still up from 8.9 percent a year earlier.
Report methodology
ATTOM analyzed recorded mortgage and deed of trust data for single-family homes, condos, town homes and multi-family properties of two to four units for this report. Each recorded mortgage or deed of trust was counted as a separate loan origination. Dollar volume was calculated by multiplying the total number of loan originations by the average loan amount for those loan originations.
Artificial Intelligence
BelindaCZ s.r.o. Introduces Notepad++ 8.6.5 Pre-installed on Windows Server 2022
PRAGUE, May 13, 2024 /PRNewswire/ — BelindaCZ s.r.o. is excited to announce a significant enhancement for developers working on Windows Server 2022. The latest version of Notepad++ (version 8.6.5) is now pre-installed on Windows Server 2022, providing a seamless and powerful coding environment right out of the box.
Why This Matters:
Tailored for Developers: With Notepad++ pre-installed, Windows Server 2022 offers an optimized platform for developers who require a reliable and robust text/source code editor.
Intuitive and Customizable: Notepad++ features an intuitive interface and powerful tools like syntax highlighting and code folding, designed to enhance productivity.
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About Notepad++:
Notepad++ is a free, open-source text and source code editor known for its lightweight design and high efficiency. It is beloved by developers for its advanced features, including syntax highlighting, code folding, and extensive plugin support. Notepad++ has become an indispensable tool for programmers and text editors alike.
Ready to explore the possibilities? Discover the enhanced coding experience with Notepad++ pre-installed on Windows Server 2022.
About BelindaCZ s.r.o.:
BelindaCZ s.r.o. is a leading provider of innovative IT solutions, committed to empowering businesses with advanced technology. Specializing in cloud computing and IT infrastructure, BelindaCZ s.r.o. delivers comprehensive services to clients globally.
www.belinda-cz.com
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STOCKHOLM, May 13, 2024 /PRNewswire/ — The shareholders in SciBase Holding AB (publ), reg. no. 556773-4768 (the “Company”), are hereby given notice to attend the annual general meeting at 15:00 p.m. on Thursday 13 June 2024 at Setterwalls Advokatbyrå’s offices at address Sturegatan 10 in Stockholm. Registration for the meeting commences at 14:45 p.m. The board of directors has decided, pursuant to Chapter 7, Section 4a of the Swedish Companies Act and the Company’s articles of association, to apply the possibility of postal voting in conjunction with the general meeting (see “Postal voting” below for more information).
Notice
Shareholders wishing to participate at the meeting must:
be entered in the shareholders’ register, kept by Euroclear Sweden AB (the Swedish Central Securities Depository & Clearing Organisation), on the record day, which is Tuesday 4 June 2024, andnotify the Company of their attendance and any assistant no later than Friday 7 June 2024. Notification can be made in writing to Setterwalls Advokatbyrå AB, Attn: Eric Torstensson, P.O. Box 1050, SE-101 39 Stockholm, Sweden or by e-mail to [email protected] shall include full name, personal identification number or corporate registration number, address, daytime telephone number and, if appropriate, information about representative, proxy, and assistants. The number of assistants may not be more than two. In order to facilitate entry to the meeting, notification should, where appropriate, be ac-companied by powers of attorney, registration certificates and other documents of authority.
Nominee registered shares
In order to be entitled to participate and vote at the meeting, shareholders who have their shares registered in the name of a nominee must have their shares registered in their own name, so that the shareholder will be included in the transcription of the share register as of Tuesday 4 June 2024. Such registration may be temporary (so-called voting rights registration) and is requested to the nominee in accordance with the nominee’s routines at such time in advance as the nominee determines. Voting rights registrations made by the nominee no later than Friday 7 June 2024 will be taken into account in the preparation of the share register.
Postal voting
The board of directors has decided, pursuant to Chapter 7, Section 4a of the Swedish Companies Act and the Company’s articles of association, to apply the possibility of postal voting in conjunction with the general meeting. A special form shall be used for postal voting. The form will be available on the Company’s website, https://investors.scibase.se/en/governance/annual-general-meeting.
The form may be submitted by post to Setterwalls Advokatbyrå AB, Attn: Eric Torstensson, P.O. Box 1050, 101 39 Stockholm or via e-mail to [email protected]. The completed voting form must be received by Setterwalls Advokatbyrå AB no later than Wednesday 12 June 2024 provided the shareholder has given notice of attendance at the general meeting no later than Friday 7 June 2024. However, a complete postal vote which reaches Setterwalls Advokatbyrå AB no later than Friday 7 June 2024 shall also be considered the shareholder’s notice of attendance at the meeting (by postal voting).
The shareholder may not provide special instructions or conditions in the voting form. If so, the vote (i.e. the postal vote in its entirety) is invalid. Further instructions and conditions are included in the form for postal voting.
Proxy voting
A shareholder represented by proxy shall issue a power of attorney which shall be dated and signed by the shareholder. If the shareholder postal votes by proxy, the power of attorney shall be enclosed to the form. If issued by a legal entity, the power of attorney shall also be accompanied by registration certificate or, if not applicable, equivalent documents of authority. Power of attorney forms will be available on the Company’s website https://investors.scibase.se/en/annual-general-meeting-2024.
Processing of personal data
For information regarding how your personal data is processed in connection with the annual general meeting, please refer to the privacy policy on Euroclear Sweden AB’s website, https://www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf.
Proposed agenda
Opening of the meeting and election of chairman of the meeting.Preparation and approval of the voting list.Approval of the agenda.Election of one person who shall approve the minutes of the meeting.Determination of whether the meeting has been duly convened.Submission of the annual report and the auditor’s report as well as of the consolidated financial statements and the auditor’s report on the group.Resolution in respect of:adoption of the profit and loss statement and the balance sheet as well as of the consolidated profit and loss statement and the consolidated balance sheet; allocation of the Company’s results according to the adopted balance sheet; andthe members of the board of directors’ and the CEO’s discharge from liability.Resolution regarding the number of members and, where applicable, deputies of the board of directors and number of auditors and, where applicable, deputy auditors.Determination of the fees payable to the members of the board of directors and the auditors.Election of members of the board of directors and auditor.Resolution on principles for the appointment of a nomination committee.Resolution on an authorisation for the board of directors to resolve upon issues of shares, warrants and convertibles.Closing of the meeting.The nomination committee’s proposed resolutions
The nomination committee is composed of the chairman of the board of directors of the Company (i.e. Tord Lendau), Thomas Axelsson (appointed by Gell Group), Dharminder Chahal (appointed by VanHerk Group), and Peter Elmvik (appointed by Stockholms Elbolag). The nomination committee has presented the following proposed resolutions in relation to items 1 and 8-11 in the proposed agenda.
Item 1 – Election of chairman
Axel Helle (lawyer at Setterwalls Advokatbyrå AB) is proposed as chairman of the meeting, or if he is unable to attend the meeting, any other person proposed by the board of directors.
Items 8-10 – Resolution regarding the number and election of and remuneration to the board of directors and auditors
The nomination committee proposes that the board of directors, until the end of the next annual general meeting, shall consist of four (4) ordinary members without deputy members. Furthermore, it is proposed that a registered accounting firm shall be elected as auditor.
The nomination committee furthermore proposes that the fees payable to the board of directors for the period until the end of the next annual general meeting shall be SEK 200,000 for the chairman of the board and SEK 150,000 to each of the other ordinary board members (who are not employed by a larger shareholder in the Company). It is proposed that the Company’s auditor shall be paid in accordance with approved invoices.
The board of directors today consists of the following five (5) ordinary members without deputy members: Tord Lendau (chairman), Diana Ferro, Thomas Taapken, Matt Leavitt och Jvalini Dwarkasing.
Tord Lendau has declined re-election after ten years as chairman of the board of directors. Matt Leavitt and Jvalini Dwarkasing have also declined re-election. However, Matt Leavitt will continue to assist the Company on a consultancy basis.
The nomination committee proposes that Diana Ferro and Thomas Taapken are re-elected and that Jesper Høiland and Robert Molander are new-elected as ordinary board members. Furthermore, Jesper Høiland is proposed to be new-elected as chairman of the board of directors.
The registered accounting firm PricewaterhouseCoopers AB (PwC) is proposed to be re-elected as auditor. The accounting firm has informed that Magnus Lagerberg will remain as principally responsible auditor.
The nomination committee has, as the basis for its proposal, regarding the composition of the board of directors, discussed the Company’s future needs and reviewed the annual evaluation of the board of directors and its work and interviewed several candidates. The nomination committee has thoroughly discussed the requirements for competence, experience and background that are placed on the board of directors of Scibase, considering, among other things, the Company’s strategic development, governance and control. Independence issues have been highlighted, as well as the requirement for versatility and breadth in the board. The nomination committee makes the assessment that the proposed board members, considering the Company’s needs, operations, stage of development and other circumstances, would give the board of directors a good and appropriate composition.
Below is a summarized description of the proposed new board members’ education, experience, other assignments, and independence. Further information about all proposed board members will be made available on the Company’s website.
Jesper Høiland
Education: MSc and BSc, Copenhagen Business School.
Experience: Jesper has over 25 years of experience from senior positions in global pharmaceutical companies such as Ascendis Pharma (CCO), Radius Health (CEO) and Novo Nordisk (President and EVP for the US with a particular focus on pricing, product launches and infrastructure building). Jesper has previously been a board member of Concert Pharma and Leo Pharma. Jesper has lived and worked in the US, Switzerland, Denmark, Australia, France, Belgium and Canada for the past 30 years.
Other current assignments: Strategic advisor to pharmaceutical and medical device companies. Member of the board of directors and the audit committee of ALK.
Independence: Jesper is independent in relation to the Company and its management as well as to major shareholders.
Robert Molander
Education: MBA in Marketing and Finance, Washington University, John M. Olin School of Business and dual BA degrees in Economics and International Studies, Miami University.
Experience: Senior executive and advisor with over 25 years of expertise in life science commercialization, primarily based in the United States. Robert has successfully led companies such as Novartis, Pfizer, Shionogi, and Trialbee through product launches, business development and scaling commercial operations. Robert has previously been Chief Commercial Officer at Infant Bacterial Therapeutics AB and Trialbee AB and a board member of Infant Bacterial Therapeutics AB.
Other current assignments: Board member of Xspray Pharma AB, CEO of Stratfox Healthcare Group LLC.
Independence: Robert is independent in relation to the Company and its management and to major shareholders.
Item 11 – Resolution on principles for the appointment of a nomination committee
The nomination committee proposes the following decision for appointment of a nomination committee for the annual general meeting 2025 (same principles as the previous year). The nomination committee for the annual general meeting 2025, which shall be comprised of four members, shall be appointed by way of that the chairman of the board of directors will consult with the three largest shareholders of the Company at the end of the third quarter of 2024. These shareholders will be requested to each appoint one member who, together with the chairman of the board of directors, will form the nomination committee. The composition of the nomination committee shall be publicly announced no later than six months prior to the annual general meeting. The nomination committee, whose mandate period applies until the time a new nomination committee has constituted itself, shall appoint a chairman among its members. The nomination committee shall prior to the annual general meeting 2025 prepare and submit proposals regarding the election of the chairman of the annual general meeting, the number of board members and, where applicable, deputy members, the number of auditors and, where applicable, deputy auditors, the election of board members, chairman and, where applicable, deputy members, auditor and, where applicable, deputy auditors, remuneration for the board of directors and the auditor, as well as guidelines for the appointment of the nomination committee for the following annual general meeting. The nomination committee’s proposals shall be presented in the notice to a general meeting where election of board members and auditor shall take place and on the Company’s website. Should a member of the nomination committee resign from its assignment, a replacement shall be sought from the shareholder that appointed the departing member. Should a shareholder that has appointed a member of the nomination committee substantially decrease its ownership in the Company, the next shareholder in size order shall, if the nomination committee so resolves, be requested to appoint a member to the nomination committee.
The board of directors’ proposed resolutions
The board of directors of the Company has presented the following proposed resolutions in relation to items 7(ii), and 12 in the proposed agenda.
Item 7 (ii) – Allocation of the Company’s results according to the adopted balance sheet
The board of directors proposes that SEK 202,523,429 shall be carried forward in new account. Accordingly, no dividend is proposed.
Item 12 – Resolution regarding authorisation for the board of directors to resolve upon issues of shares, warrants and convertibles
The board of directors proposes that the annual general meeting resolves to authorize the board of directors to, until the next annual general meeting, on one or more occasions, decide upon issuances of new shares, issuance of warrants and/or convertibles. New issues of shares and issues of warrants and/or convertibles may occur with or without preferential rights for shareholders of the Company and may be made either in cash and/or by way of set-off or contribution in kind or otherwise be conditional. Through issuances resolved upon with support from the authorisation – with deviation from the shareholders’ preferential rights – the number of shares issued, or number of shares created in connection with exercise of warrants or conversion of convertibles, shall correspond to not more than a 20 per cent dilution of the share capital and the number of shares and votes in the Company after such issue(s). The chairman of the board of directors, the CEO or a person appointed by the board of directors shall be authorized to make any minor adjustments required to register the resolution with the Swedish Companies Registration Office.
Majority requirements
Resolution in accordance with the board of director’s proposal in accordance with item 12 on the agenda requires that the general meeting’s resolution is supported by shareholders representing at least two thirds of the shares represented at the general meeting as well as of the votes cast.
Shareholders’ right to request information
The board of directors and the CEO shall, if any shareholder so requests and the board of directors believe that it can be done without material damage to the Company, provide information regarding circumstances that may affect the assessment of an item on the agenda, of the Company’s, or a subsidiary’s economic situation and of the Company’s relations with other group companies on the general meeting.
Documentation
The financial accounts and auditor’s report will be kept available at the Company’s office and on the Company’s website www.scibase.com. Copies of such documents will be sent free of charge to shareholders who so request and state their postal address. The proposals of the board of directors and the nomination committee are set out in full in the notice.
Stockholm, May 2024SciBase Holding AB (publ)The board of directors
For more information, please contact:Pia Renaudin, CEO SciBaseTel: +46 73 206 98 02Email: [email protected]
Certified Adviser: Vator SecuritiesTel: +46 8 580 065 99Email: [email protected]
The information was submitted, through the agency of the contact person set out above, for publication at the time stated by Scibase’s news distributor Cision upon publication of this press release
About SciBase
SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press releases and financial reports can be found here: https://investors.scibase.se/en/pressreleases.
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/scibase/r/notice-to-attend-the-annual-general-meeting-in-scibase-holding-ab–publ-,c3977598
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SciBase Holding AB (publ) – Notice to attend AGM 2024 (ENG)
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Artificial Intelligence
Netcompany secures high-profile digital transformation contract with HM Revenue & Customs (HMRC)
Netcompany wins one of four new build contracts for HMRC. The European IT services company will focus on modernising core digital customer services for HMRC’s Customer Services Group. The contract term is three years with options for two, one-year extensions. The estimated contract spend is £120–£135m over the course of the 5-year term.
LONDON, May 13, 2024 /PRNewswire/ — Netcompany has won a significant new build contract for His Majesty’s Revenue and Customs (HMRC). It will provide digital transformation services to HMRC’s Customer Services Group (CSG), including the Customer Compliance Group (CCG). Netcompany was selected following a competitive procurement process.
“We are proud and honoured to be selected to bring our expertise and knowledge to bear in helping enable HMRC’s digitalisation journey,” says André Rogaczewski, CEO, Netcompany. “Improving citizen experience through responsible digitalisation of public services is a core part of our DNA. Through this partnership, Netcompany looks forward to working with HMRC to help realise their digital transformation aspirations, resulting in both better customer services and value to the taxpayer.”
The contract Netcompany has been awarded to deliver aims to simplify access and management of citizens’ tax affairs, through one personalised digital account. The contract was won through the first phase of competitions run under Crown Commercial Service’s (CCS) Digital and Legacy Application Services (DALAS) framework, Lot 2a – Large Scale Digital, Integration and Development Services.
About Netcompany
Founded in Denmark in 2000, Netcompany is a fast-growing, multinational company, working across 10 countries, with a team of more than 7,700 skilled professionals, who drive sustainable digitisation, consistently improving outcomes for our customers and citizens. Netcompany provides mission-critical IT solutions for societal and business needs, aiding our clients in their digital evolution towards a more efficient and sustainable future. Netcompany UK has extensive experience of working across the public sector, including NHS England, Ministry of Defence, Home Office, HMRC, Department for Education, Department for Environment, Food & Rural Affairs, as well as extensive private sector experience.
About Crown Commercial Service
Crown Commercial Service (CCS) is an Executive Agency of the Cabinet Office, supporting the public sector to achieve maximum commercial value when procuring common goods and services.
To find out more about CCS, visit: www.crowncommercial.gov.ukFollow us on Twitter: @gov_procurementLinkedIn: www.linkedin.com/company/2827044
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