Toronto-Dominion Bank is buying Chrysler Financial for $6.3bn (£4.1bn). Yesterday’s cash deal, which includes about $400m in goodwill, will make Canada’s second largest bank one of North America’s biggest bank-owned auto lenders. The bank won’t issue any stock to fund its purchase from Cerberus Capital Management. TD Bank buys Chrysler Financial Show Comments ▼ whatsapp Tuesday 21 December 2010 8:23 pm Share Tags: NULL whatsapp KCS-content More From Our Partners Inside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org
Indiana sets new sports betting handle record in December AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Finance Sports betting Adjusted gross revenue for the month amounted to $24.3m, up 102.5% from $12.0m in December 2019, but down from a record $25.3m in November 2020. Football was by far the most popular sport to wager on among consumers in the state, with a total of $101.8m during the month. Basketball ranked second with $89.7m in wagers, ahead of just $19,923 for baseball. Subscribe to the iGaming newsletter The Indiana Gaming Commission set a new sports betting handle record in December, while revenue from wagering more than doubled year-on-year. Players wagered a total of $313.1m, which was 93.5% higher than in the same month in 2019, as well as a 24.5% increase on the previous monthly record of $251.4m set in November of last year. Regions: Indiana Email Address The Commission also noted that the state was able to take $2.3m in tax from sports betting activities in December, more than double the $1.1m collected in December 2019. Read the full story on iGB North America. 12th January 2021 | By Robert Fletcher Topics: Sports betting Results 2020
ZimRe Holdings Limited (ZIMR.zw) listed on the Zimbabwe Stock Exchange under the Insurance sector has released it’s 2011 interim results for the half year.For more information about ZimRe Holdings Limited (ZIMR.zw) reports, abridged reports, interim earnings results and earnings presentations, visit the ZimRe Holdings Limited (ZIMR.zw) company page on AfricanFinancials.Document: ZimRe Holdings Limited (ZIMR.zw) 2011 interim results for the half year.Company ProfileZimRe Holdings Limited operates through subsidiaries to provide solutions for general insurance, health cover, reinsurance, life reassurance, reinsurance brokering and property services for private, commercial and corporate clients in Zimbabwe and overseas. Its insurance products range from short-term and whole-life insurance to endowment pensions, medical aid societies and motor, household and commercial insurance solutions. The company also has interests in producing a range of animal-drawn implements and in property management; maintaining, developing and leasing properties in the residential and commercial property market in Zimbabwe. ZimRe Holdings Limited was founded in 1983 and is based in Harare, Zimbabwe. ZimRe Holdings Limited is listed on the Zimbabwe Stock Exchange
“It’s a different team. Physically we’re twice as good as we were. Our kickers are now converting 100 percent because of the work they’re putting in. When you have time to work and the players are competitors. We’re not more stupid than anyone else.”France have won all three of their games so far, kicking off with a comfortable win over Italy, before bonus-point successes against Romania and Canada.However they have to beat Ireland to top the pool, with Joe Schmidt’s side just ahead of them on points difference, having also managed 14 points from a possible 15 so far. LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALS France have no fear over playing Ireland according to Philippe Saint-André despite a poor recent record.Pool D will come down to the clash in Cardiff on Sunday, with the winners claiming top spot in the pool and the losers set to face New Zealand and a more challenging route through the knock-out stages.During Saint-André’s four years in charge, France have not yet beaten Ireland, drawing twice before losing their last two fixtures.In February they went down 18-11 in Dublin, but Saint-André is bullish about his team’s prospects this weekend.Ireland beat France 18-11 in Dublin. Photo: Getty Images“The players have been thinking about this game against Ireland for a long time, but they’ve been able to do the job before that,” Saint-André told reporters.“We’re serious at the top level. But I don’t have to speak about anything else. I control what I can. We’re good together. This is the moment of truth but we’re not afraid of Ireland. France coach Philippe Saint-André is feeling confident. Photo: Getty Images “I’ve got a squad that’s ready. They have been preparing since July 5. You sense the squad is sure of their strength. The players don’t panic,” added Saint-André.“It will be good to play Ireland to see where we stand. But we are going to start games at another level. We’re going to focus on putting some pace into the first two phases. We have to control what we can control.” Philippe Saint-André is bullish over his side’s chances of beating Ireland in Sunday’s decisive clash in Cardiff.
VB Rural House / Lucas y Hernández-GilSave this projectSaveVB Rural House / Lucas y Hernández-Gil Projects Houses Spain Cristina Domínguez Lucas, Fernando Hernández-Gil Ruano Photographs: José Hevia Manufacturers Brands with products used in this architecture project ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/917041/vb-rural-house-lucas-y-hernandez-gil Clipboard CopyAbout this officeLucas y Hernández-GilOfficeFollow#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesRefurbishmentRenovationVillalba de los BarrosBrick InteriorsSpainPublished on May 16, 2019Cite: “VB Rural House / Lucas y Hernández-Gil” [Casa rural VB / Lucas y Hernández-Gil] 16 May 2019. ArchDaily. Accessed 11 Jun 2021.
Rough RunnerGame show-inspired obstacle course event, Rough Runner (also main image) has now helped to raise over £1 million for charity through its participants. Since the first Rough Runner event in 2014, participants have raised money for over 300 national and regional charities, with the average individual fundraiser bringing in close to £500. According to online fundraising platform JustGiving, 2018 was Rough Runner’s most prolific fundraising year yet, with over £360,000 raised for charity by participants across seven nationwide events. Banking on Barnardo’sThe second Banking on Barnardo’s fundraising event, held on 13 March at London’s Merchant Taylor’s Hall, was attended by 240 leaders from the financial services industry and raised over £297,000 for the charity. The money will go towards the charity’s frontline Child Sexual Exploitation, Mental Health and Young Carer services. The first event was in 2016. Tagged with: fundraising events [youtube height=”450″width=”800″]https://youtu.be/Tydxv9YaQ3U[/youtube] Advertisement Here are six of the events raising funds for charity to have caught UK Fundraising’s eye this month. Melanie May | 18 March 2019 | News Six events raising funds for charity 189 total views, 3 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis9 Hidden LondonTickets for a new season of Hidden London tours of disused stations and other secret locations went on public sale on Friday 8 March. Organised by London Transport Museum, the new season runs from 11 April to 27 September 2019. The programme includes the following locations: Aldwych – The end of the line, Charing Cross – Tour & complimentary Skyfall screening, 55 Broadway – London’s first skyscraper, and Clapham South – Subterranean shelter. About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com. Red Sky Ball & Children’s Heart Unit FundAlmost 800 people came together on 8 March at the annual Red Sky Ball gala dinner, to raise over £55,000 for the Children’s Heart Unit Fund (CHUF). The sell-out event was organised by Sergio and Emma Petrucci who have been raising money for CHUF since their daughter Luna received life-saving treatment from the Children’s Heart Unit at the Freeman at two-years-old. With the £55,000 raised at Friday’s event, the family have now raised in excess of £305,000 for CHUF in the past three years helping to fund state of the art machinery and equipment for the Freeman, Sunderland Royal and James Cook hospitals. Aztec Escape & Cure LeukaemiaCure Leukaemia has become the official charity for ‘Aztec Escape’, an action-packed obstacle course race (OCR), which takes place on Saturday May 18th at Cliff Lakes in Tamworth. Working in conjunction with the Aztec Escape team this will be the Cure Leukaemia Family Fun Day 2019 with entrants invited to take part in the various OCR distances at a reduced price in return for fundraising. People of all ages are encouraged to take part with a ‘Rookie Race’ for kids and then distances of 6km, 12km, 18km and 24km available for all abilities. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis9 London Landmarks Half Marathon charity mascot raceOn Sunday 24 March, 17 charity mascots will line up at the London Landmarks Half Marathon to take part in the first ever charity mascot race. Ranging from Guide Dog’s fluffy mascot ‘Hero’ to WaterAid’s TAP and toilet, each mile will be run by one or more of the mascots alongside 13,000 runners aiming to raise £6 million for charity. The event will also see the first ever appearance of the race organiser’s brand new mascot, ‘The Tommy’s Rainbow’. 188 total views, 2 views today
Solidarity Center in NYC hosts meeting to ‘End the Wars at Home and Abroad’ on Oct. 31.New York City — “End the Wars at Home and Abroad” was held Oct. 31 as part of the Antiwar Autumn event series that demands those who run for office provide their position on war, militarism and imperialism. The series seeks to hold U.S. electoral candidates accountable for the imperialist wars raging around the world and domestically. The panel discussion at the Solidarity Center here drew a standing-room-only crowd.The continuous U.S. wars abroad are inextricably linked to the militarization of U.S. borders and the repression of oppressed U.S. communities.“What is going to put a break on war abroad?” asked Black Alliance for Peace (BAP) National Organizer Ajamu Baraka. “It is the people here.”“The imperialism we see globally is the flip side of the repression we deal with domestically,” Baraka said. Democrats overwhelmingly supported the 1033 Program that transfers military-grade weapons and tanks to state and local police departments.“The Democrats and the Republicans are both equally pro-war,” said Lisa Davis of the People’s Organization for Progress and the Black Is Back Coalition for Social Justice, Peace and Reparations (BIB). Davis criticized elected elites in Congress for supporting Trump’s $717 billion military budget. These same elected officials approved the Blue Lives Matter bill that makes it a federal crime to assault a police officer.Davis insisted that the anti-war movement support a military draft as a tool to raise awareness and end the wars.Bernadette Ellorin of BAYAN spoke about how the Philippines had been exploited by first Spain and, since 1898, by the United States. Ellorin explained that the Mutual Defense Treaty allows the U.S. military to rotate its presence among 20 ports in the Philippines. It is the fifth most mineral-rich country, a food basket for the Asia-Pacific region, and the United States has exploited its position among Japan, China and southeast Asia.“You will never understand anti-imperialism in the Philippines without understanding the land question,” Ellorin said.Attendees applauded both the cohesiveness of the talks as well as the diversity of the speakers. Davis said she was happy to see unfamiliar and young faces in the audience. “It is so important to take what is going on personally, to take it literally, and to walk like the world depends on you,” Davis said.Other speakers included Maurice Carney of Friends of the Congo and Joe Lombardo of the United National Antiwar Coalition. Richard Kossally of the Peoples Power Assembly chaired the meeting.The event was sponsored by the PPA, BAP, BIB and UNAC.Attendees were encouraged to pick up a copy of BAP’s 4-page booklet on U.S Africa Command (AFRICOM) and read and sign a petition to shut it down. The online petition, as well as printable petition sheets to circulate in your communities, can be found at blackallianceforpeace.com/USoutofAfrica.The video of the meeting can be viewed at tinyurl.com/y9jgjvbz.Varughese is a communications advisor to BAP. FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this
CHICAGO & SAN FRANCISCO & PALO ALTO, Calif.–(BUSINESS WIRE)–Feb 3, 2021– Please replace the release with the following corrected version due to multiple revisions. The updated release reads: CCC INFORMATION SERVICES INC. AND DRAGONEER GROWTH OPPORTUNITIES CORP. ANNOUNCE BUSINESS COMBINATION, CREATING PUBLICLY LISTED LEADER ACCELERATING THE DIGITAL TRANSFORMATION OF THE P&C INSURANCE ECONOMY Transaction includes $150 million of fully committed common stock PIPE with participation by Fidelity Investments, funds and accounts advised by T. Rowe Price Associates, Inc. and other investors, in addition to $175 million forward purchase agreement from Dragoneer funds and Michael Bloomberg’s family office, Willett Advisors $968 million of expected net proceeds from transaction will be used to invest in CCC’s growth initiatives and for general corporate purposes Advent International will remain the majority shareholder and be closely aligned with Dragoneer and public shareholders at transaction close Company expected to be listed on the NYSE upon completion of the combination in the second quarter of 2021 Investor webcast to discuss proposed transaction today, Wednesday, February 3, 2021 at 10:00AM EST CCC Information Services Inc. (“CCC”), a leading SaaS platform for the property and casualty (“P&C”) insurance economy, and Dragoneer Growth Opportunities Corp. (NYSE: DGNR) (“Dragoneer”), a special purpose acquisition company (“SPAC”) formed by an affiliate of Dragoneer Investment Group, today announced a definitive merger agreement has been entered into between Dragoneer and CCC’s parent holding company. Upon closing of the transaction, the combined company is expected to be renamed CCC Intelligent Solutions Holdings Inc. (the “Company”) and is expected to be listed on the New York Stock Exchange. CCC’s mission-critical SaaS platform provides advanced AI, IoT, customer experience, and network management workflow solutions to the P&C insurance economy. CCC enables more than $100 billion of transactions annually among a vast ecosystem of interconnected businesses. CCC’s network includes thousands of customers including insurers, repair facilities, automotive manufacturers, parts suppliers, and other industry participants who leverage CCC’s platform to digitize operations, improve business performance, and power better decisions in an increasingly complex and rapidly changing market. Under Chairman and CEO Githesh Ramamurthy, who will continue to lead the Company following the close of the transaction, CCC expects to report approximately $600 million of revenue in 2020 and has delivered a consistent track record of profitable revenue growth for 20+ years by focusing on delivering best-in-class innovations for its customers. “Today is an exciting day for CCC as our return to the public markets provides us with additional sources of capital to accelerate innovation and increase the value we provide customers,” said Ramamurthy. “Throughout our history, CCC has developed pioneering technology solutions focused on enabling growth, increasing efficiency, and empowering new possibilities for all participants in the P&C insurance economy. We serve a large and interconnected market that is still in the early stages of digitizing its operations and is growing in complexity. We believe CCC is well positioned to support customer digitization in this dynamic market.” Ramamurthy continued, “We are incredibly excited to begin this new partnership with Dragoneer, one of the most highly respected investors in the world, and to continue our relationship with Advent, who have been terrific partners for the past four years. Together, I am confident CCC will continue to generate meaningful value for our customers and shareholders.” “Under Advent’s ownership, CCC has cemented itself as a leading SaaS platform for the P&C insurance ecosystem,” said Eric Wei, Managing Director at Advent. “Since 2017, we’ve partnered with Githesh and the CCC management team to accelerate organic growth through a focus on innovation, and we believe this sustained investment in R&D will deliver significant ROI for customers for decades to come. Advent is excited to partner with Dragoneer, with its preeminent technology investing franchise, to support CCC’s continued focus on digitally transforming the insurance economy. We have strong conviction in CCC’s growth potential and are not selling a single share as part of the transaction.” “CCC is one of those rare software companies that serves as the backbone of a critical industry – the P&C insurance economy,” said Marc Stad, Founder and Portfolio Manager at Dragoneer. “As the products we use and the cars we drive become more and more sophisticated, insurers, consumers, manufacturers and service providers require increasing amounts of support and coordination whenever issues occur. CCC’s advanced technology platform enables the right groups to connect quickly and efficiently, and its twenty-plus years of profitable growth are a testament to the value the company provides to its customers. The CCC team’s impressive track record of execution and financial performance speaks for itself, and we are thrilled to partner with them and Advent as they work to realize their ambitious vision for the business.” Transaction Overview The Company is expected to receive net proceeds of approximately $968 million at the closing of the transaction (assuming no redemptions are effected) and will continue to operate under the CCC management team. All cash proceeds from the transaction will be put towards the Company’s balance sheet, with no existing CCC shareholders selling any shares in connection with the business combination. The boards of directors of both Dragoneer and CCC have approved the proposed transaction. Completion of the transaction, which is expected to occur in the second quarter of 2021, is subject to approval of Dragoneer’s shareholders and the satisfaction or waiver of certain other customary closing conditions. In addition to the approximately $690 million held in Dragoneer’s trust account (assuming no redemptions are effected) and the $175 million forward purchase agreement commitment from Dragoneer funds and Michael Bloomberg’s family office, a group of investors has committed to participate in the transaction through a common stock private investment in public equity (“PIPE”) of approximately $150 million at $10 per share. The PIPE includes participation from Fidelity Investments and funds and accounts advised by T. Rowe Price Associates, Inc., along with Altimeter Capital Management L.P., Coatue, D1 Capital Partners L.P., Franklin Templeton, Janus Henderson Investors, Maverick Capital, MFS Investment Management, Sunley House Capital (an affiliate of Advent International) and other investors. Proceeds of the business combination and PIPE will be used for general corporate purposes and to fuel additional innovation and growth . Current CCC shareholders and holders of equity awards are converting 100% of their equity interests into shares or equivalent awards of the Company at a total enterprise value for the Company of approximately $7 billion, reflecting a deep alignment of interests. Current shareholders of Dragoneer are converting their ordinary shares and warrants of Dragoneer into common stock and warrants of the Company on a one for one basis. Additionally, the current CCC shareholders and Dragoneer’s sponsor each have an earnout tied to the trading price of the Company shares after the closing of the business combination, providing a significant incentive for post-closing value creation. Assuming no redemptions are effected, the current shareholders of CCC are expected to own approximately 83.2% of the Company after closing, with Advent remaining the largest shareholder in the Company. Advisors Citigroup Global Markets Inc. is acting as lead capital markets advisor to Dragoneer, in conjunction with capital markets advisors Goldman Sachs & Co., LLC and JP Morgan Securities LLC. Ropes & Gray LLP is acting as legal counsel to Dragoneer. Evercore Group L.L.C. is acting as financial advisor and capital markets advisor to CCC. Kirkland & Ellis LLP is acting as legal counsel to CCC and Advent. Citigroup Global Markets Inc. is acting as lead placement agent and Evercore Group L.L.C. as placement agent on the PIPE. Citigroup Global Markets Inc., Goldman Sachs & Co., LLC, and J.P. Morgan Securities LLC acted as book-running managers on Dragoneer’s $690 million initial public offering. Investor Webcast Information Dragoneer Growth Opportunities Corp. will host an investor webcast at 10:00AM EST today, February 3, 2021 to discuss the transaction. To access the webcast, participants need to register in advance online by visiting https://citi.zoom.us/webinar/register/WN—5d3OVYr4TJWr1lNCCbkqPw. A pre-recorded version of the investor webcast will also be made available at https://www.dragoneergrowth.com/DGNR/, and a transcript of this webcast will be filed by Dragoneer Growth Opportunities Corp. with the U.S. Securities and Exchange Commission (“SEC”). About CCC CCC, together with its affiliates, provides cross-industry solutions to support the vehicle lifecycle. Founded in 1980, CCC’s solutions and big data insights are delivered through the CCC ONE® platform to a vibrant network of 300+ insurance companies, 25,000+ repair facilities, OEMs, hundreds of parts suppliers, and dozens of third-party data and service providers. Annually, over 24 million estimates and 16 million repairs are processed on CCC’s products and services, and CCC also provides access to car-related services for millions of consumers via Carwise ( www.carwise.com ). Additionally, CCC Casualty, operated by Auto Injury Solutions Inc., a CCC company, provides end-to-end casualty solutions for first- and third-party auto claims. The collective set of CCC’s solutions inform decision-making, enhance productivity, and help customers optimize experiences for end consumers. Learn more about CCC at www.cccis.com. About Dragoneer Dragoneer is a newly organized blank check company formed by an affiliate of Dragoneer Investment Group, LLC (“Dragoneer Investment Group”). Dragoneer Investment Group is a San Francisco-based, growth-oriented investment firm with over $14 billion in long-duration capital from many of the world’s leading endowments, foundations, sovereign wealth funds, and family offices. The firm has a history of partnering with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. The firm’s track record includes public and private investments across industries and geographies, with a particular focus on technology-enabled businesses. Dragoneer has been an investor in companies such as Airbnb, Alibaba, Atlassian, AppFolio, Bytedance, Ceridian, Chime, Datadog, Doordash, Duck Creek, PointClickCare, Procore, Slack, Samsara, ServiceTitan, Snowflake, Spotify, Uber, UiPath and others. About Advent International Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 350 private equity transactions in 41 countries, and as of September 30, 2020, had $66.2 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 200 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies. For more information, visit: Website: www.adventinternational.com LinkedIn: www.linkedin.com/company/advent-international Important Information and Where to Find It A full description of the terms of the transaction will be provided in a registration statement on Form S-4 to be filed with the SEC by Dragoneer that will include a prospectus with respect to the Company’s securities to be issued in connection with the business combination and a proxy statement with respect to the shareholder meeting of Dragoneer to vote on the business combination. Dragoneer urges its investors, shareholders and other interested persons to read, when available, the preliminary proxy statement/ prospectus as well as other documents filed with the SEC because these documents will contain important information about Dragoneer, CCC and the transaction. After the registration statement is declared effective, the definitive proxy statement/prospectus to be included in the registration statement will be mailed to shareholders of Dragoneer as of a record date to be established for voting on the proposed business combination. Once available, shareholders will also be able to obtain a copy of the proxy statement/prospectus, and other documents filed with the SEC without charge, by directing a request to: Dragoneer Growth Opportunity Corp., One Letterman Drive, Building D, Suite M500, San Francisco, California, 94129. The preliminary and definitive proxy statement/prospectus to be included in the registration statement, once available, can also be obtained, without charge, at the SEC’s website ( www.sec.gov ). Participants in the Solicitation Dragoneer and CCC and their respective directors and executive officers may be considered participants in the solicitation of proxies with respect to the potential transaction described in this press release under the rules of the SEC. Information about the directors and executive officers of Dragoneer is set forth in Dragoneer’s final prospectus filed with the SEC pursuant to Rule 424(b) of the Securities Act of 1933, as amended (the “Securities Act”) on August 17, 2020 and is available free of charge at the SEC’s web site at www.sec.gov or by directing a request to: Dragoneer Growth Opportunity Corp., One Letterman Drive, Building D, Suite M500, San Francisco, California, 94129. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the Dragoneer shareholders in connection with the potential transaction will be set forth in the registration statement containing the preliminary proxy statement/prospectus when it is filed with the SEC. These documents can be obtained free of charge from the sources indicated above. Non-Solicitation This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Dragoneer, the Company or CCC, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act. Special Note Regarding Forward-Looking Statements This press release contains forward-looking statements that are based on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. We caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, which are subject to a number of risks. Forward-looking statements in this press release include, but are not limited to, statements regarding future events, the proposed business combination between Dragoneer and CCC, including the timing and structure of the transaction, the likelihood and ability of the parties to successfully consummate the business combination, the listing of the Company’s shares, the amount and use of the proceeds of the transaction, our future growth and innovations, including the estimated or anticipated future results and benefits of the Company following the business combination, the PIPE, the initial market capitalization of the Company, the amount of funds available in the trust account as a result of stockholder redemptions or otherwise and the benefits of the transaction, and the existence of, as well as the potential value and duration of, any return on investment for customers of the Company. In addition, CCC’s expected 2020 revenue is a preliminary estimate, which is subject to the completion of CCC’s year end and quarter end close procedures and further financial review. Actual results may differ as a result of the completion of the CCC’s year end and quarter end closing procedures, review adjustments and other developments that may arise between now and the time such financial information for the period is finalized. Such differences may be material. As a result, those estimates are preliminary, may change and constitute forward-looking information and, as a result, are subject to risks and uncertainties. Neither CCC’s nor Dragoneer’s registered accounting firm has audited, reviewed or compiled, examined or performed any procedures with respect to the preliminary results, nor have they expressed any opinion or any other form of assurance on the preliminary financial information. We cannot assure you that the forward-looking statements in this press release will prove to be accurate.These forward looking statements are subject to a number of risks and uncertainties, including, among others, the general economic, political, business and competitive conditions; the inability of the parties to consummate the business combination or the occurrence of any event, change or other circumstances that could give rise to the termination of the business combination agreement or any related agreements or could otherwise cause the transaction to fail to close; the outcome of any legal proceedings that may be instituted against the parties following the announcement of the business combination and the transactions contemplated by the business combination; the ability of existing investors to redeem the ability to complete the business combination due to the failure to obtain approval from Dragoneer’s shareholders, or the risk that the approval of the shareholders of Dragoneer for the potential transaction is otherwise not obtained; the failure to satisfy other closing conditions in the business combination agreement or otherwise,; the failure to obtain financing to complete the business combination, including to consummate the PIPE or the transactions contemplated by the forward purchase agreements; the ability to recognize the anticipated benefits of the business combination; the impact of COVID-19 on CCC’s business and/or the ability of the parties to complete the business combination; the receipt of an unsolicited offer from another party for an alternative business transaction that could interfere with the business combination; changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the business combination; failure to realize the anticipated benefits of the business combination, including as a result of a delay in consummating the potential transaction or difficulty in integrating the businesses of Dragoneer and CCC; the risk that the business combination disrupts current plans and operations of Dragoneer or CCC as a result of the announcement and consummation of the business combination; the ability of the Company to grow and manage growth profitably and retain its key employees; the inability to obtain or maintain the listing of the post-acquisition company’s securities on the NYSE following the business combination; changes in applicable laws or regulations and delays in obtaining, adverse conditions contained in, or the inability to obtain regulatory approvals required to complete the business combination; costs related to the business combination; and other risks and uncertainties, including those to be included under the header “Risk Factors” in the registration statement on Form S-4 to be filed by Dragoneer with the SEC and those included under the header “Risk Factors” in the final prospectus of Dragoneer related to its initial public offering. Furthermore, if the forward-looking statements prove to be inaccurate, the inaccuracy may be material. In addition, you are cautioned that past performance may not be indicative of future results. In light of the significant uncertainties in these forward-looking statements, you should not rely on these statements in making an investment decision or regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release. View source version on businesswire.com:https://www.businesswire.com/news/home/20210203005331/en/ CONTACT: Dragoneer Contact: Meghan Gavigan / Nate Johnson Sard Verbinnen & Co [email protected] CCC Investor Contact: Brian Denyeau ICR, LLC (646) 277-1251 [email protected] CCC Media Contact: Michelle Hellyar Director Public Relations, CCC Information Services Inc. [email protected] KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA ILLINOIS INDUSTRY KEYWORD: TECHNOLOGY INSURANCE AUTOMOTIVE FINANCE GENERAL AUTOMOTIVE PUBLIC RELATIONS/INVESTOR RELATIONS BANKING COMMUNICATIONS PROFESSIONAL SERVICES SOFTWARE SOURCE: Dragoneer Growth Opportunities Corp. Copyright Business Wire 2021. PUB: 02/03/2021 10:53 AM/DISC: 02/03/2021 10:53 AM http://www.businesswire.com/news/home/20210203005331/en CORRECTING and REPLACING CCC Information Services Inc. and Dragoneer Growth Opportunities Corp. Announce Business Combination, Creating Publicly Listed Leader Accelerating the Digital Transformation of the P&C Insurance Economy WhatsApp WhatsApp Local NewsBusiness Facebook By Digital AIM Web Support – February 3, 2021 Twitter Facebook Previous articleAltria to Host Webcast as Part of the Consumer Analyst Group of New York ConferenceNext articleWolters Kluwer CT Corporation Survey Reveals How Corporate Law Departments Evolve as Companies Expand Internationally Digital AIM Web Support Pinterest Pinterest Twitter TAGS
September 3, 2015 1,208 Views Compliance defects on closed mortgage loans are already a costly problem for lenders, but with the new TILA-RESPA Integrated Disclosure (TRID) rules just one month away, lenders can expect to face even more risks and costs.Recent analysis from ComplianceEase, a provider of automated compliance solutions to the financial services industry, found that 17 percent of loans currently fail for Truth in Lending Act (TILA) reasons and another 6 percent of the loans failed for being outside of the Real Estate Settlement Procedures Act (RESPA) tolerances.In addition, the analysis determined that compliance defects on closed loans is causing the cost of origination to rise, approximately $28 for every loan to fix these errors. This is prior to the TRID rule taking effect October 3, 2015.“Based on our analysis, closing defects are already an expensive problem for lenders under the current rules, and are about to get riskier and more expensive under TRID,” said John Vong, president of ComplianceEase. “Lenders and settlement service providers will need to work together so they can produce higher quality loans and not add to the already high costs of origination.”The ComplianceEase data, taken from a cross-section of 700,000 audits that were performed in ComplianceAnalyzer and RESPA Auditor during the first quarter of 2015, also estimated that the average RESPA reimbursement was $328 for the 6 percent of loans that failed the RESPA tolerance test. For the 2 percent of loans that had an uncured RESPA violation the average reimbursement was $740.”Based on our analysis, closing defects are already an expensive problem for lenders under the current rules, and are about to get riskier and more expensive under TRID.”In addition to this reimbursement, the new TRID rule also has a three-tiered civil money penalty that can range from $5,000 per day to $1 million per day for “knowing violations.”The analysis also showed that one year after the enactment of the Qualified Mortgage (QM) rule, 4.5 percent of QM loans failed Safe Harbor tests and 11 percent of loans were mis-categorized as to their QM status. Related Articles Print This Post Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. The Best Markets For Residential Property Investors 2 days ago Compliance Mortgage Loans TILA-RESPA TRID 2015-09-03 Brian Honea Sign up for DS News Daily Tagged with: Compliance Mortgage Loans TILA-RESPA TRID Previous: Monitor Credits Citi With $162 Million Toward Settlement Obligation Next: DS News Webcast: Friday 9/4/2015 Home / Daily Dose / Nearly One-Quarter of Mortgage Loans Fail Tests for TILA-RESPA Compliance Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Nearly One-Quarter of Mortgage Loans Fail Tests for TILA-RESPA Compliance About Author: Xhevrije West Share Save Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago