TORONTO – Firan Technology Group Corporation (TSX: FTG) (“FTG” or the “Corporation”) today announced the acceptance by the Toronto Stock Exchange (the “TSX”) of FTG’s Notice of Intention to Make a Normal Course Issuer Bid (“NCIB”). Pursuant to the NCIB, FTG is authorized to purchase through the facilities of the TSX, from time to time over the next 12 months, if considered advisable, up to an aggregate of 1,195,550 Common Shares, being approximately 5% of its Common Shares outstanding as of May 26, 2023. As of May 26, 2023, 23,911,002 Common Shares of the Corporation were issued and outstanding. Purchases may commence through the TSX on June 5, 2023, and will conclude on the earlier of the date on which purchases under the bid have been completed and June 4, 2024.

Purchases of Common Shares under the NCIB will be made in accordance with TSX by-laws, rules, and policies through the facilities of the TSX and/or through alternative Canadian trading systems. All Common Shares purchased by FTG will be cancelled. The price paid for any repurchased Common Shares will be the market price of such Common Shares at the time of acquisition. The average daily trading volume of the Common Shares of the Corporation from the start of trading on November 1, 2022, through April 30, 2023, was 22,946 Common Shares and, accordingly, daily purchases will be limited to 5,736 Common Shares other than block purchase exemptions.

Under its previous normal course issuer bid approved by the TSX on April 20, 2022, the number of Common Shares that could by repurchased for cancellation was 1,224,560 Common Shares. FTG completed the purchase for cancellation through the facilities of the TSX, and/or through alternative trading systems, of 580,200 Common Shares at a weighted average price of $1.99 per Common Share. FTG’s previous normal course issuer bid expired on April 21, 2023.

To FTG’s knowledge, none of the directors, officers, or other insiders of FTG or any associate of any such persons, or any associate or affiliate of FTG currently intends to sell Common Shares to FTG during the course of the NCIB.

FTG believes that the proposed purchases are in the best interests of FTG and are a desirable use of corporate funds.

SANTA ANA, CA – TTM Technologies, Inc., a leading global manufacturer of technology solutions including mission systems, radio frequency components and RF microwave/microelectronic assemblies and printed circuit boards, today announced the closing and syndication of a new $350 million senior secured term loan and the closing of a new U.S. asset-based revolving credit facility with committed borrowing capacity of $150 million.

The New Term Loan Facility, which matures May 2030, amends and restates TTM’s previous senior secured term loan facility that was scheduled to mature in September 2024, under which $356 million of indebtedness was outstanding. TTM used the proceeds from its New Term Loan Facility to refinance $350 million of such outstanding indebtedness and used cash on hand to pay the remaining indebtedness as well as to pay related fees and expenses. The New U.S. ABL Facility amends and restates TTM’s previous $150 million U.S. asset-based revolving credit facility, which was scheduled to mature in June 2024.

The New Term Loan Facility was priced at an interest rate of Term SOFR + 2.75%. The new Term B Loans were issued with a 1.0% original issue discount. Annual cash interest expense is expected to increase by $0.9 million.

The maximum availability under the New U.S. ABL Facility is $150 million. The New U.S. ABL Facility is scheduled to mature in May 2028 and has a borrowing rate of Term SOFR plus a margin ranging from 1.35% to 1.6%.

As a result of these transactions, annual non-cash interest expense will increase approximately $0.3 million and TTM will record, in the second quarter of 2023, a non-cash expense of approximately $1.3 million for the write off of debt issuance costs.

The New Term Loan Facility was entered into with J.P. Morgan acting as administrative agent and joint lead arranger. Other joint lead arrangers for the New Term Loan Facility were BofA Securities, Inc., Barclays Bank PLC, Truist Securities, Inc. and HSBC Securities (USA) Inc. The New U.S. ABL Facility was entered into with J.P. Morgan acting as administrative agent.

SAN DIEGO – Altium, LLC (ASX: ALU), the global leader in PCB design software, announces the successful completion of the Service Organization Control (SOC) 2 Type 2 certification. This significant milestone highlights Altium's dedication to maintaining the highest data security and integrity standards within its cloud-based Altium 365 platform.

Completing the examination and the subsequent report receipt verifies that Altium meets or exceeds the rigorous security measures and industry standards outlined by the American Institute of Certified Public Accountants (AICPA) regarding security, availability, and confidentiality.

The Altium 365 Cloud Security team, under the leadership of Volodymyr Volotko, Director of Cloud Solutions, possesses a wealth of expertise in creating secure and compliant environments for Altium 365 customers.

"By successfully completing the SOC 2 Type 2 examination, we demonstrate our commitment to upholding the highest security standards," said Greg Bellasis, Director of Cybersecurity. "Through implementing effective controls, we can confidently assure our customers that their trust in Altium is well-placed."

Following the completion of the SOC 2 Type 1 audit in March 2022, Altium voluntarily pursued the next level of examination, the SOC 2 Type 2. It's important to note that SOC 2 Type 1 assesses the design of security processes at a specific point in time. In contrast, a Type 2 report evaluates the effectiveness of those controls over a specified period of time. The Type 1 examination establishes the foundation of well-designed controls, while the Type 2 examination provides evidence of the controls' effectiveness and ability to operate consistently over time.

Altium plans to participate in annual assessments to maintain active SOC 2 Type 2 reports, further reinforcing its ongoing data security and compliance commitment.

"Altium's achievement of SOC 2 Type 2, our recent AWS GovCloud offering, and continued progress reaffirm our commitment to delivering the highest levels of security, privacy, and continuity to our clients," stated Nikolay Ponomarenko, Head of Altium 365 Cloud Platform. "We consistently enhance our data management practices, fostering transparency, open communication, and accountability between our customers and ourselves, continuing to invest towards security."

Altium provides a comprehensive Trust Center equipped with a knowledge base to assist users in comprehending the security and compliance features of Altium 365. Further information about SOC 2 and other compliance-related topics can be found by visiting the Altium 365 Trust Center at altium.com/trust 

WALDENBURG, GERMANY – Würth Elektronik Sweden AB has moved; significantly more space available. Würth Elektronik, manufacturer of electronic and electromechanical components for the electronics industry, is strengthening its activities in Scandinavia. The expansion in Sweden is the result of an extremely positive business development, and now enables the expansion of the sales office, back office, and customer services.

For Robert Vikman, the newly appointed General Manager of Würth Elektronik Sweden AB, this is the second move during his eight years with the company. Vikman has worked in the electronics industry since his time at ELFA (1995 to 2006).

"We are very happy that this branch is developing so successfully," Vikmann says happily. "Both ELFA and Würth Elektronik are family-owned, so there are a lot of similarities in the corporate culture. But, I particularly like Würth Elektronik and its concept. As an established manufacturer, we can offer free components for prototypes, all simulations, footprints, and 3D files directly on our website, and guarantee 98% availability on the more than 50,000 components in our range. Few manufacturers can do that."

"Now, we have space to grow even more," Vikmann continues, "and space is what we need, because we want to expand our technical field and office service. We currently have almost 30 employees in Sweden. Joining the team now are a digital sales manager, who exclusively handles online digital customer calls from our studio in the new office, and a technician for our online chat via the website. We are also expanding our range of wireless modules in the areas of Bluetooth, LTE, Wi-Fi, and sensors, which in turn increases customer demand for local support. I look forward to what lies ahead now."

Vikmann extends a big thank you to his predecessor CEO Martin Danielsson, who is moving on to new responsibilities outside the company after 18 years in the Würth family.