Blue California Commercializes Nicotinamide Mononucleotide (NMN) for Supporting an Increased Healthspan

A better cost-effective option is now available for dietary supplement, functional food, and beverage manufacturers. Rancho Santa Margarita, Calif., July 20, 2021 (GLOBE NEWSWIRE) — Blue California joins with the innovative Massachusetts-based biotech company Conagen to announce the commercialization of high-purity, fermentation-derived nicotinamide mononucleotide (NMN). A nature-based metabolic component which has caught the attention of […]

A better cost-effective option is now available for dietary supplement, functional food, and beverage manufacturers.

Rancho Santa Margarita, Calif., July 20, 2021 (GLOBE NEWSWIRE) — Blue California joins with the innovative Massachusetts-based biotech company Conagen to announce the commercialization of high-purity, fermentation-derived nicotinamide mononucleotide (NMN). A nature-based metabolic component which has caught the attention of health-conscious consumers for supporting energy and longevity.

The quest to age healthily and support longevity is surging among health-conscious consumers. “Consumers are reassessing their dietary regimen to make room for ingredients that can support an increased healthspan,” said Chief Science Officer at Blue California, Dr. Priscilla Samuel.

NMN supplements are highly sought-after for healthy aging applications, including brain health, vitality, heart health, metabolic health, and even cosmetics. However, current NMN ingredients used in products on the market are mostly produced by chemical synthesis.

While consumers are exploring dietary supplements for a holistic approach to health, they are also demanding clean labels from their supplements, and moving away from synthetic ingredients. Blue California’s fermentation-derived NMN opens new opportunities for producers to consider consumers’ health more holistically while acquiring a closer-to-nature position.

NMN serves as a precursor to nicotinamide adenine dinucleotide (NAD+), a coenzyme present in all living cells and critical for mitochondrial function.

Increased intracellular levels of NAD+ boost energy production and improve cellular health, but levels decline dramatically with age. Replenishing NAD+ in the body with its precursor NMN has been proposed as a way to possibly combat age-related degeneration and increase healthy lifespan.

“Our fermentation-derived offering is well-positioned to capitalize on the growing recognition of NMN as an important ingredient in the food and supplement spaces,” said Samuel. “NMN is a well-known molecule in the longevity research community, and emerging research also suggests potential applications for immune health as well as sports nutrition.”

Harvard professor David Sinclair, a well-recognized leader in the field of aging research, is an advocate of NMN for improving the health of aging populations.

“NMN is a logical extension to our line of “longevity ingredients” which includes ergothioneine and pyrroloquinoline quinone. All of these molecules are made by our own proprietary fermentation processes, enabling our customers to better serve consumers who might reject chemically-derived ingredients,” said VP of Innovation at Conagen, Dr. Casey Lippmeier. “Because of the way we make it, Conagen’s NMN is of the highest purity and quality.  It is also very cost-effective and compatible with clean-label trends, all of which demonstrates our strength as a strategic partner with Blue California.”

As innovation in dietary supplemental nutrition advances, so does the growth of global vitamin, mineral and supplement (VMS) launches. Mintel reported a growth of 67% of global VMS launches in Apr 2020 – Mar 2021, as compared to Apr 2016 – Mar 2017 — where the United States leads the VMS market.

About Blue California

Blue California is a vertically integrated technology company providing innovative ingredient solutions to global partners. With more than 20 years of innovation success, our ingredients are used in commercial products and applications in the industries of nutrition, personal care, healthy aging and wellness, functional food and beverage, and beauty. www.bluecal-ingredients.com

About Conagen

Conagen is making the impossible possible. Our scientists and engineers use the latest synthetic biology tools to develop high-quality sustainable nature-based products through systems of manufacturing on a molecular level and fermentation basis. We focus on the bioproduction of high-value ingredients for food, nutrition, flavors and fragrances, pharmaceutical, and renewable materials industries. www.conagen.com

Attachment

Ana Arakelian
Blue California ingredients
+1-949-635-1991
ana@bluecal-ingredients.com

Sindh Revenue Board Exempts Sales Tax On Export Services Of Call Centers

The Sindh Revenue Board (SRB) has exempted sales tax on services exported out of Pakistan rendered by call centers to their foreign clients.The SRB has issued a notification SRB-3-4/13/2021 on Monday to amend its notification No. SRB-3-4/7/2013, dated …

The Sindh Revenue Board (SRB) has exempted sales tax on services exported out of Pakistan rendered by call centers to their foreign clients.

The SRB has issued a notification SRB-3-4/13/2021 on Monday to amend its notification No. SRB-3-4/7/2013, dated 18th June 2013.

According to the notification, the sales tax exemption would be available to the Call Centre services exported and delivered by registered persons to persons outside Pakistan, subject to the condition that the value of the export of the services is received in foreign exchange through banking channels in the business bank accounts of the registered person exporting the services, and is also reported to the State Bank of Pakistan in the manner prescribed by the State Bank of Pakistan.

This notification shall take effect on and from the last day of July 2021.

Source: Pro Pakistani

HBL Islamic Banking Becomes the First to Introduce Islamic Merchant Acquiring in Pakistan

HBL’s Islamic Banking and Edenrobe recently signed a Merchant Establishment Agreement in Karachi. The agreement was signed by Shahzad Babar, Head Governance, Planning & Initiatives, HBL Islamic Banking, and Junaid Dandia, Chief Executive Office…

HBL’s Islamic Banking and Edenrobe recently signed a Merchant Establishment Agreement in Karachi. The agreement was signed by Shahzad Babar, Head Governance, Planning & Initiatives, HBL Islamic Banking, and Junaid Dandia, Chief Executive Officer, Edenrobe, a venture of Eden Apparels Pvt Ltd., one of Pakistan’s premier fashion retail brands offering quality clothing and fragrances.

Through this agreement, HBL’s Islamic Banking has achieved a first-mover advantage by launching Islamic Merchant Acquiring for the first time in Pakistan. This means that customers can now make transactions using POS Machines through Visa, Master, UnionPay, and PayPak at the terminals of Islamic Merchants, who will maintain Islamic Banking Accounts with HBL Islamic Banking.

Commenting on this occasion, Muhammad Afaq Khan, Head of Islamic Banking at HBL, stated, “HBL Islamic Banking always strives to provide seamless and innovative solutions to its customers for their convenience. By being the first bank to introduce Islamic Merchant Acquiring in Pakistan, HBL has once again shown that it is a pioneer and market leader in the banking industry.”

Source: Pro Pakistani

Rupee Crashes to Its Lowest in 9 Months Against the US Dollar

The rupee continued its downward trend as it fell to a nine-month low against the US Dollar on Monday, owing to the rising demand for natural import payments and increasing strength of the US Dollar in the international market.The Rupee fell down to Rs…

The rupee continued its downward trend as it fell to a nine-month low against the US Dollar on Monday, owing to the rising demand for natural import payments and increasing strength of the US Dollar in the international market.

The Rupee fell down to Rs. 161.48 exchange rate against the US Dollar for the first time since mid-October 2020.

Today, PKR traded between Rs. 160 and Rs. 161.60, before closing at Rs. 161.48 to the USD today (19 July), down from Friday’s (16 July) exchange rate of Rs. 159.93 to the USD.

In the interbank currency market, PKR has lost 1 percent or Rs. 1.54, to the USD during this time, while in the open market, the deterioration is steeper, around Rs. 1.70, was Dollar trading at nearly Rs. 162 in the open market.

The rupee continued its downward trend against the US Dollar on Monday, owing to the rising demand for natural import payments.

PKR has continued its losing streak against the USD almost consistently since the beginning of the current fiscal year, with rare and sporadic improvements.

Asad Rizvi, the former Treasury Head at the Chase Manhattan Bank, said earlier in the day, “In Pakistan, we have 2 working days this week. Gulf market will remain closed. This means no remittances are expected from Middle Eastern countries.”

He further stated “Today’s market was bidding USD aggressively in a good size to cover the position because of the coming Eid holidays. It seems the banks are not willing to keep their position exposed due to the extreme volatility seen recently. PKR since touching highs of 152.90 lost nearly 5.5%of its value.”

Asad added, “Eid Holidays is annual routine, but it will add pressure. Therefore, I do not see any respite in the next 7-10 days.”

Traders expect that the rupee will appreciate gradually after the Eid holidays and will be traded in between 159 to 160 levels, said an Analyst from Tresmark.

PKR also had a bad day against other major currencies in the interbank currency market, with blanket losses except for nominal appreciation against the Canadian Dollar (CAD). PKR posted 12.89 paisas improvement against the CAD today.

Other than that, it went down notably by Rs. 1.45 against the Euro, went down by 9 paisas against the Pound Sterling (GBP), and lost 13.24 paisas against the Australian Dollar (AUD).

The PKR also and significantly deteriorated by 42 paisas and 41 paisas against the UAE Dirham (AED) and the Saudi Riyal (SAR), respectively, in the interbank currency market today.

Source: Pro Pakistani

Finance Minister Directs To Form New Committee For Overseeing Capital Market TORs

The Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, chaired the first meeting of the Capital Market Advisory Council (CMAC), held at the Finance Division today.The Finance Minister directed the council to form a Coordination Committee for …

The Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, chaired the first meeting of the Capital Market Advisory Council (CMAC), held at the Finance Division today.

The Finance Minister directed the council to form a Coordination Committee for smooth implementation of the TORs of CMAC. He further instructed to include members from SECP, SBP, Pakistan Banking Council, commercial markets, legal counsel, and an expert on Islamic Banking in the Coordination Committee for comprehensive stakeholder feedback.

It was also decided that the SECP shall be the secretariat of the Coordination Committee, and Chairman SECP shall be the head/secretary of the Coordination Committee. It was agreed that the Coordination Committee would meet once every month and send its recommendations for review to the Apex committee of the CMAC, which will issue directions to SECP and other relevant stakeholders for final implementation.

SAPM on Finance and Revenue, Dr. Waqar Masood, Secretary Finance Division, Chairman SECP, Aamir Khan, Chairman HBL, Sultan Ali Allana, and other senior officials participated in the meeting. Governor State Bank of Pakistan, Reza Baqir, joined through a video link.

The Capital Market Advisory Council (CMAC) was established in April 2020 under the Capital Market Development Plan (CMDP). In the maiden meeting, the Secretary of Finance briefed the members of the Council that the purpose behind the Capital Market Advisory Council (CMAC) was to introduce reforms in the capital markets in the country.

While speaking at the occasion, the Finance Minister stated that the establishment of the CMAC was long overdue, as Capital markets can improve risk-sharing and the efficiency with which capital is allocated to the real economy, thereby boosting economic growth and development. The underlying rationale is to attract investors – especially ones with lesser resources – to contribute to capital markets so that their limited resources are channelized into more productive use.

The reforms will be introduced after having input from all the relevant stakeholders, he stressed.

Source: Pro Pakistani

Madison Realty Capital Closes $105 Million Acquisition and Modernization Loan for Four Seasons Hotel in Prime Miami Location

NEW YORK, July 19, 2021 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced it has provided a $105 million loan to Fort Partners for the acquisition and modernization of the Four Seasons Hotel Miami located at 1435 Brickell Avenue in […]

NEW YORK, July 19, 2021 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced it has provided a $105 million loan to Fort Partners for the acquisition and modernization of the Four Seasons Hotel Miami located at 1435 Brickell Avenue in Brickell, Florida.  The loan was originated from Madison’s income strategy that offers transitional loans to institutional sponsors. In 2019, Madison provided a $210 million loan to Fort Partners for its construction of the Four Seasons Hotel and Private Residences Fort Lauderdale.

“We are pleased to continue our work with Fort Partners, a best-in-class developer with a strong track record in South Florida, and deliver a timely, customized financing solution for this exciting project,” said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital. “Fort Partners, in close collaboration with Four Seasons, have put forth a strong plan that will modernize the property focused on enhancing room configurations, pool deck and lobby, and upgrade the food & beverage options by partnering with renowned chefs and restaurateurs.  Moreover, Brickell is an attractive, established neighborhood in Miami that caters to both tourists and business clients given its proximity to South Beach. We look forward to supporting Fort Partners in the future.”

“This is our second large loan with Madison Realty Capital, and again they executed quickly and delivered certainty of execution. Madison offered a highly competitive rate with a flexible structure that will allow us to effectively implement our renovation and repositioning plan for this strategic asset,” said Michael Conaghan, partner with Fort Partners LLC.

The 221-key hotel is part of a 70-story mixed-use tower that includes class-A office space, residential condominiums, an Equinox health club, retail space and a parking garage.  Millennium Partners developed the property in 2003 and Handel Architects led the design. The acquisition marks the fourth Four Seasons property in Fort Partners’ Florida portfolio alongside hotels located in Surfside, Fort Lauderdale, and Palm Beach.

JLL Managing Director Jim Dockerty, Senior Managing Director, Kevin Davis, and Managing Director, Mark Fisher represented Fort Partners in the deal.

 

About Madison Realty Capital 

Madison Realty Capital is a vertically integrated real estate private equity firm that manages approximately $6 billion in total assets on behalf of an institutional global investor base. Since 2004, Madison Realty Capital has completed more than $15 billion in transactions in the U.S. providing reputable borrowers with flexible and highly customized financing solutions, strong underwriting capabilities, and certainty of execution. Headquartered in New York City, with offices in Los Angeles and Miami, the firm has over 60 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been frequently named to the Commercial Observer’s prestigious “Power 100” list of New York City real estate players and is consistently cited as a top construction lender, among other industry recognitions. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.

Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
madisonrealty@gasthalter.com

 

Zoom to Acquire Five9

The combination of Zoom’s robust communications platform with Five9’s intelligent cloud contact center will enable organizations to reimagine the way they engage with their customers SAN JOSE, Calif. and SAN RAMON, Calif., July 18, 2021 (GLOBE NEWSWIRE) — Zoom Video Communications, Inc. (NASDAQ: ZM) today announced it has entered into a definitive agreement to acquire […]

The combination of Zoom’s robust communications platform with Five9’s intelligent cloud contact center will enable organizations to reimagine the way they engage with their customers

SAN JOSE, Calif. and SAN RAMON, Calif., July 18, 2021 (GLOBE NEWSWIRE) — Zoom Video Communications, Inc. (NASDAQ: ZM) today announced it has entered into a definitive agreement to acquire Five9, Inc. (NASDAQ: FIVN), a leading provider of the intelligent cloud contact center, in an all-stock transaction valued at approximately $14.7 billion. Combining Five9’s Contact Center as a Service (“CCaaS”) solution with Zoom’s broad communications platform will transform how businesses connect with their customers, building the customer engagement platform of the future.

The acquisition is expected to help enhance Zoom’s presence with enterprise customers and allow it to accelerate its long-term growth opportunity by adding the $24 billion contact center market. Five9 is a pioneer of cloud-based contact center software. Its highly-scalable and secure cloud contact center delivers a comprehensive suite of easy-to-use applications that allows management and optimization of customer interactions across many different channels.

“We are continuously looking for ways to enhance our platform, and the addition of Five9 is a natural fit that will deliver even more happiness and value to our customers,” said Eric S. Yuan, Chief Executive Officer and Founder of Zoom. “Zoom is built on a core belief that robust and reliable communications technology enables interactions that build greater empathy and trust, and we believe that holds particularly true for customer engagement. Enterprises communicate with their customers primarily through the contact center, and we believe this acquisition creates a leading customer engagement platform that will help redefine how companies of all sizes connect with their customers. We are thrilled to join forces with the Five9 team, and I look forward to welcoming them to the Zoom family.”

“Businesses spend significant resources annually on their contact centers, but still struggle to deliver a seamless experience for their customers,” said Rowan Trollope, Chief Executive Officer of Five9. “It has always been Five9’s mission to make it easy for businesses to fix that problem and engage with their customers in a more meaningful and efficient way. Joining forces with Zoom will provide Five9’s business customers access to best-of-breed solutions, particularly Zoom Phone, that will enable them to realize more value and deliver real results for their business. This, combined with Zoom’s ‘ease-of use’ philosophy and broad communication portfolio, will truly enable customers to engage via their preferred channel of choice.”

Zoom’s acquisition of Five9 is complementary to the growing popularity of its Zoom Phone offering. Zoom Phone is a modern, cloud phone system that offers a digital alternative to legacy phone offerings, enabling organizations to connect and interact in new and convenient ways to keep businesses moving.

The combination also offers both companies significant cross-selling opportunities to each other’s respective customer bases. As a result of the acquisition, Zoom will play an even greater role in driving the digital future and bringing companies and their customers closer together.

Following the close of the transaction, Five9 will be an operating unit of Zoom and Rowan Trollope will become a President of Zoom and continue as CEO of Five9, reporting to Eric Yuan.

Details on the Proposed Transaction
As part of the agreement, Five9 stockholders will receive 0.5533 shares of Class A common stock of Zoom Video Communications, Inc. for each share of Five9, Inc. Based on the closing share price of Zoom Class A common stock as of July 16, 2021, this represents a per share price for Five9 common stock of $200.28 and an implied transaction value of approximately $14.7 billion.

The Boards of Directors of Zoom and Five9 have approved the transaction. The Board of Directors of Five9 recommends that Five9 stockholders approve the transaction and adopt the merger agreement. The transaction, which is anticipated to close in the first half of calendar year 2022, is subject to approval by Five9 stockholders, the receipt of required regulatory approvals and other customary closing conditions.

Additional details and information about the terms and conditions of the acquisition will be available in current reports on Form 8-K to be filed by Zoom and Five9 with the Securities and Exchange Commission.

Advisors
Goldman Sachs & Co. LLC is serving as exclusive financial advisor and Cooley LLP is serving as legal counsel to Zoom. Qatalyst Partners is serving as exclusive financial advisor and Latham and Watkins LLP is serving as legal counsel to Five9.

Transaction Conference Call Information
Zoom and Five9 will host a Zoom Video Webinar for investors on Monday, July 19, 2021 at 5:30 am Pacific Time / 8:30 am Eastern Time. Investors are invited to join the Zoom Video Webinar by visiting: https://investors.zoom.us/. A replay will be available shortly after the call ends.

About Zoom
Zoom is for you. We help you express ideas, connect to others, and build toward a future limited only by your imagination. Our frictionless communications platform is the only one that started with video as its foundation, and we have set the standard for innovation ever since. That is why we are an intuitive, scalable, and secure choice for individuals, small businesses, and large enterprises alike. Founded in 2011, Zoom is publicly traded (NASDAQ: ZM) and headquartered in San Jose, California. Visit zoom.com and follow @zoom.

About Five9
Five9 is an industry-leading provider of cloud contact center solutions, bringing the power of cloud innovation to more than 2,000 customers worldwide and facilitating billions of customer engagements annually. The Five9 Intelligent Cloud Contact Center provides digital engagement, analytics, workflow automation, workforce optimization, and practical AI to help customers reimagine their customer experience. Designed to be reliable, secure, compliant, and scalable, the Five9 platform helps increase agent and supervisor productivity, connects the contact center to the business, and ultimately deliver tangible business results including increased revenue and enhanced customer trust and loyalty.

Forward-Looking Statements
This communication contains forward-looking information related to Zoom, Five9 and the acquisition of Five9 by Zoom that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements in this communication include, among other things, statements about the potential benefits of the proposed transaction for Zoom, Five9 and their respective customers, Zoom’s plans, objectives, expectations and intentions with respect to the combined company, the size of the opportunity for Zoom in contact centers, the financial condition, results of operations and business of Zoom or Five9, and the anticipated timing of closing of the proposed transaction.

Risks and uncertainties include, among other things, risks related to the ability of Zoom to consummate the proposed transaction on a timely basis or at all; Zoom’s ability to successfully integrate Five9’s operations and personnel; Zoom’s ability to implement its plan, forecasts and other expectations with respect to Five9’s business after the completion of the transaction and realize expected synergies; the satisfaction of the conditions precedent to consummation of the proposed transaction; Zoom’s ability to secure regulatory approvals on the terms expected in a timely manner or at all, especially in light of recent regulatory developments in the United States and elsewhere; the ability to realize the anticipated benefits of the proposed transaction, including the possibility that the expected benefits from the proposed transaction will not be realized or will not be realized within the expected time period; disruption from the transaction making it more difficult to maintain business and operational relationships; any negative effects of the announcement or the consummation of the proposed transaction on the market price of Zoom’s Class A common stock or on Zoom’s operating results; the impact of significant transaction costs and unknown liabilities on Zoom’s operating results; the risk of litigation and/or regulatory actions related to the proposed transaction; the exertion of management’s time and Zoom’s resources, and other expenses incurred in connection with any regulatory or governmental consents or approvals for the transaction; the possibility that competing offers will be made to acquire Five9; the effect of the announcement or pendency of the transaction on Zoom and Five9’s business relationships, operating results, and business generally; the impact of the COVID-19 pandemic and related public health measures on Zoom and Five9’s businesses and general economic conditions; the impact of geopolitical events; Zoom’s service performance and security, including the resources and costs required to avoid unanticipated downtime and prevent, detect and remediate potential security breaches; cyberattacks and security vulnerabilities that could lead to reduced revenue, increased costs, liability claims, or harm to Zoom’s reputation or competitive position; excessive outages and disruptions to Zoom’s online services if Zoom fails to maintain an adequate operations infrastructure; competitive factors, including new market entrants and changes in the competitive environment and increased competition; customer demand for Zoom’s products and services; Zoom and Five9’s ability to attract, integrate and retain qualified personnel; Zoom’s ability to protect its intellectual property rights and develop its brand; Zoom’s ability to develop new services and product features; Zoom’s operating results and cash flow; the impact of the transaction on Zoom’s strategy of acquiring or making investments in complementary businesses, joint ventures, services, technologies and intellectual property rights; changes in tax and other laws, regulations, rates and policies; and the impact of new accounting pronouncements.

These risks, as well as other risks related to the proposed transaction, will be described in the registration statement on Form S-4 and proxy statement/prospectus that will be filed with the SEC in connection with the proposed transaction. While the list of factors presented here is, and the list of factors to be presented in the registration statement on Form S-4 are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. For additional information about other factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to Zoom’s and Five9’s respective periodic reports and other filings with the SEC, including the risk factors identified in Zoom’s and Five9’s most recent Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K.

The forward-looking statements included in this communication are made only as of the date hereof. Zoom assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

Additional Information and Where to Find It

In connection with the proposed merger, Zoom intends to file with the SEC a registration statement on Form S-4, which will include a document that serves as a prospectus of Zoom and a proxy statement of Five9 (the “proxy statement/prospectus”). After the registration statement has been declared effective by the SEC, the proxy statement/prospectus will be delivered to stockholders of Five9. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, SECURITY HOLDERS OF ZOOM AND FIVE9 ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND OTHER DOCUMENTS RELATING TO THE MERGER THAT WILL BE FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. Investors and security holders will be able to obtain copies of the proxy statement/prospectus (when available) and other documents filed by Zoom and Five9 with the SEC, without charge, through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Zoom will be available free of charge under the SEC Filings heading of the Investor Relations section of Zoom’s website at https://investors.Zoom.us/. Copies of the documents filed with the SEC by Five9 will be available free of charge under the Financials & Filings heading of the Investor Relations section of Five9’s website at https://investors.five9.com/.

Participants in the Solicitation

Zoom and Five9 and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about Zoom’s directors and executive officers is set forth in Zoom’s Form 10-K for the year ended January 31, 2021 and the proxy statement for Zoom’s 2021 Annual Meeting of Stockholders, which were filed with the SEC on March 18, 2021 and May 5, 2021, respectively. Information about Five9’s directors and executive officers is set forth in Five9’s Form 10-K for the year ended December 31, 2020 and the proxy statement for Five9’s 2021 Annual Meeting of Stockholders, which were filed with the SEC on March 1, 2021 and March 29, 2021, respectively. Stockholders may obtain additional information regarding the interests of such participants by reading the registration statement and the proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed merger when they become available. Investors should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions.

No Offer or Solicitation

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Zoom Press Relations
Colleen Rodriguez
Global Media Relations Lead
press@zoom.us

Zoom Investor Relations
Tom McCallum
Head of Investor Relations
investors@zoom.us

Five9 Press Relations
Allison Wilson
352-502-9539
allison.wilson@five9.com

Five9 Investor Relations
Barry Zwarenstein
Chief Financial Officer
925-201-2000 ext. 5959
ir@five9.com

The Blueshirt Group for Five9, Inc.
Lisa Laukkanen
415-217-4967
lisa@blueshirtgroup.com

Kamyab Pakistan Program to be Launched This Month

The government will give Rs. 1.6 trillion to the Kamyab Pakistan Program (KPP) over the next three years to uplift Pakistan’s underprivileged population.The federal Minister for Finance and Revenue, Shaukat Tarin, stated that an extensive consultative …

The government will give Rs. 1.6 trillion to the Kamyab Pakistan Program (KPP) over the next three years to uplift Pakistan’s underprivileged population.

The federal Minister for Finance and Revenue, Shaukat Tarin, stated that an extensive consultative process had been followed in working out the modalities of the Kamyab Pakistan Program while ensuring that all the relevant stakeholders are on board.

Kamyab Pakistan is a flagship program that will extend micro-loans to entrepreneurs, small businesses, and farmers at 0 percent markup without collateral. Its key focus is to provide loans to 4.5 million households of the lowest strata that are registered with the National Socio Economic Registry (NSER) of the Ehsaas Program.

The KPP reflects the government’s firm commitment to pursuing a pro-people agenda and developing Pakistan into a welfare state in line with the principles of Riasat-e-Madina.

Under the program, the cumulative disbursement will be Rs. 1.6 trillion over the next three to five years and will benefit 3,000,000 families, which makes the program one of the largest of its kind in the world whereby micro-loans will be disbursed under a wholesale arrangement between the banks/DFIs/PMRC and the Microfinance Banks & Institution/Housing Finance Companies.

Under the Kamyab Kissan Program, agricultural loans will be given to farmers with land holdings up to 12.5 acres. Micro-loans will be extended to Rs. 150,000 (per crop) for the procurement of agricultural inputs to boost agricultural productivity. Additionally, loans of up to Rs. 200,000 will be given for machinery and equipment.

Similarly, loans will be extended for small businesses and start-ups at 0 percent markup in both rural and urban areas under ‘Kamyab Karobar’. The size of a loan is up to Rs. 500,000, and repayment will be in easy installments.

The third component of the scheme is the introduction of a new tier titled the ‘Naya Pakistan Low Cost Housing Scheme’ whereby loans of up to Rs. 2.7 million (for NAPHDA) and Rs. 2 million (for non-NAPHDA) projects will be given at highly subsidized rates for a maximum of 20 years.

The KPP will also be integrated into the government’s ongoing skill development program for educational and vocational training under the ‘Kamyab Hunarmand’ scheme and the provincial initiative of the Sehat Insaf Card.

The KPP has been designed to foster a bottom-up approach as envisioned by Prime Minister Imran Khan. It aims at empowering the underprivileged and those from the marginalized sections of society.

The ECC had approved the KPP in its meeting on 16 July 2021. Minister Tarin had commended all those concerned who had made great efforts in designing the entire program and taking it towards its formal launch which is will be soon.

Source: Pro Pakistani