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Tag: Stockholm

Repurchase of Truecaller B shares in week 23, 2024

STOCKHOLM, June 10, 2024– During 3 June 2024 and 7 June 2024 Truecaller AB (publ) (LEI code 549300TEYF1FA5G5GK26) has repurchased in total 265,000 own B shares (ISIN: SE0016787071) as part of the share buyback programme initiated by the board of directors. In accordance with the decision at the 2024 AGM, 28,647,115 B shares have now been cancelled.

The share buybacks form part of the share buyback programme announced by Truecaller on 28 May 2024. The share buyback programme will run between 28 May up until the 2025 AGM which will be held in May 2025, and is carried out in accordance “Emittentregelverket“.

On the Annual General Meeting 2024 the Board was authorized to buy back B-shares up until the Annual General Meeting in 2025. The new authorization means that buybacks may be made so that the company’s shareholding does not exceed ten (10) percent of the total number of shares in the company outstanding as of the date of the annual general meeting.

The Future of Urban Living – The Sustainable Communities of Tomorrow

By – Akash Pharande, Managing Director – Pharande Spaces

Akash Pharande, Managing Director - Pharande Spaces

I travel a lot to understand how different countries address their urban sprawl because we use such insights to design integrated townships here in India. In fact, one result of these travels was our partnering with a globally acclaimed architect who helped us recreate a global residential experience in India.

However, my main takeaway from this globetrotting has been far less positive – the alarming rate at which rampant urbanization is challenging even the most glamorous world cities.

As cities’ populations overflow, traditional urban infrastructure groans and often crumbles under the strain of housing demands. Did you think that overcrowding and declining living standards are the order of the day only in India? Far from it – it is a global phenomenon.

The Global Scenario

In the thronged streets of New York, Tokyo, and Hong Kong – and even in Berlin, Hamburg, and Stockholm – urban sprawl running wild is in evidence everywhere. In India, we have accepted congestion, pollution, and stressed infrastructure, but be aware that very few countries are exempt from them anymore.

Across the world from Asia to Europe to North America, local governments and expert city planners are implementing the only viable solution. You guessed it – integrated townships.

In Singapore and the United Arab Emirates, self-sufficient, self-contained integrated projects have in fact been at the forefront of urban planning for many decades. Singapore, in particular, is famous for master-planned communities such as Punggol and Tampines, which integrate residential, commercial, and recreational facilities to create vibrant and self-sustaining neighborhoods.

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In the UAE, integrated developments like Dubai Marina and Masdar City deliver comprehensive living and working environments for residents. In Europe, Sweden and the Netherlands have embraced the concept of integrated townships to promote sustainable urban development.

Stockholm and Amsterdam have pioneered eco-friendly neighbourhoods that prioritize walking, cycling, and public transportation while incorporating green spaces and mixed-use developments.

In North America, integrated townships have gained traction in response to urban sprawl and the growing trend for more walkable and inclusive communities. Vancouver in Canada and Portland in the United States have implemented policies to encourage mixed-use development and compact urban forms.

This approach has given rise to highly integrated neighborhoods that provide everything their residents will ever need – living spaces, offices to work in, as well as shopping malls and recreational amenities.

Integrated Living – No Alternatives

If this sounds like a marketing prospectus for a modern integrated township in India, it’s because while we certainly haven’t pioneered the concept, we have certainly caught on to it big time. And for good reasons.

A report by international property consultants JLL India entitled ‘Livability quotient – a paradigm shift in India’s emerging cities’ puts it very aptly – “A balanced lifestyle contributes highly to the livability quotient of a city or township,” it states. “Amenities for leisure and recreation such as sports facilities, gymnasiums, clubhouses, malls and shopping streets are considered lifestyle amenities and are much appreciated by users.”

“Townships managed by private developers have an advantage over cities managed by local governments. The high level of interaction that happens between a township developer and customers naturally enables a focused delivery of services.”

I guess there’s no better way of putting it. As our larger cities draw more and more inward migration because of their employment prospects, we certainly need better solutions to house everyone. India’s growing upper-level middle class expects to find housing that multi-tasks and delivers on their lifestyle preferences.

What better solution for this than integrated mixed-use developments where they can seamlessly transition between living, working, and leisure activities without enduring long commutes?

As the successful eco-cities of Scandinavia and the master-planned communities of Singapore and the UAE demonstrate, integrated townships are a concept whose time has come – and is, in fact, by now an imperative in India.

intergrated township

A Long Way to Go

As Anarock Property Consultants put it, the growing demand for integrated townships in India has risen even more in the wake of changing housing preferences post-pandemic. However, despite the increased interest, integrated townships still represent only a fraction of the total housing supply in India. Since 2010, only about 2% of all housing projects in the top seven cities fell in this category,

Clearly, we are missing something important here.

India is a nation at a crossroads in its urbanization journey. Rapid population growth, rural-urban migration, and fragmented urban planning have spawned a host of challenges, from sprawling urban sprawl to choked traffic arteries and polluted air. The need for holistic urban planning has never been more pressing.

Integrated townships offer hope amidst this urban chaos. With the government’s ambitious plans to create smart cities and revitalize urban infrastructure in a country where land scarcity, fragmented development, and outdated infrastructure are the norm, there is quite simply no other solution.

Without integrated townships, the status quo in India is frankly unsustainable. With every passing year, our trajectory of urbanization is spiraling further out of control – with far-reaching consequences on our society, our environment, and our economy.

Beyond just bricks and mortar, integrated townships also serve as catalysts for economic growth and building strong, wholesome and supportive communities. They provide local employment opportunities, reduce dependence on city centers, offer higher returns on investment, and provide a holistic solution to the many challenges we face in our cities.

About the Author:

Akash Pharande is Managing Director – Pharande Spaces, a leading real estate construction and development firm famous for its township projects in West Pune and beyond. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer of townships in West Pune. With the recent integration of Puneville Commercial into one of its most iconic townships, Pharande Spaces taken a major step towards addressing Pune’s current and future requirements for fully integrated residential-commercial convenience.

Legitify Secures Euros1.5 Million in New Funding Round

Legitify, the online notarization solution, proudly announces the successful close of a €1.5 million funding round. This significant milestone is led by Verb Ventures, with key contributions from Enterprise Ireland, Actium Partners, Redbay Ventures, and other investors, marking a strong vote of confidence in Legitify’s innovative approach to simplifying and streamlining notarization processes.

Legitify 1

Founded in the autumn of 2020 in Stockholm, Sweden, by co-founders Aida Lutaj (CEO) and Arko Ganguli (CPO), and headquartered in Dublin, Ireland, the company is previously backed by Antler, NDRC, and Alchemist Accelerator. Legitify has quickly established itself as a leading remote online notarization solution in Europe and beyond. The company empowers both enterprises and individuals to effortlessly certify and notarize documents online, transcending traditional jurisdictional boundaries and transforming in-person processes with a sleek, intuitive, and cost-effective online solution.

Legitify’s impact is already evident, with many notable leading enterprises and professional services firms across over 40 geographies leveraging the solution for their notarization needs. The company is setting the new standard for online document certification and notarization across Europe and beyond, servicing over 1100 customers to date, and spanning sectors from financial services, legal services, consulting, real estate, and more.

Aida Lutaj, CEO of Legitify, shared her enthusiasm: “This funding round, spearheaded by Verb Ventures, represents a significant leap forward for Legitify. It not only reinforces our commitment to making cross-border legal processes smoother and more accessible but also paves the way for us to expand our product offering, introduce AI-powered enhancements to our solution and broadening our operational reach. We’re excited to solidify our position as a leader in tech-enabled notarization and essential business services as we continue to expand into new markets.”

Alexander Chikunov, Founding Partner at Verb Ventures, echoed this sentiment, noting Legitify’s impressive trajectory: “In a remarkably short time, Legitify has emerged as a frontrunner in providing a seamless notarization solution to professionals across various industries. Their innovative platform addresses a critical need in a market that sees billions of certifications and notarisations annually. We’re thrilled to support Legitify’s growth ambitions and their journey to introduce new products and solutions to their customers.”

Donnchadh Cullinan, Department Manager ICT HPSU at Enterprise Ireland, adds:

“We are delighted to support Legitify as the company continues to remove the complexity and barriers to notarisation processes for individuals and companies through their innovative online notarisation solution aiming to simplify cross-border transactions. Legitify facilitates the seamless processing of certifying and notarising legal documents online remotely across different jurisdictions, helping business to grow globally. This is an exciting growth phase for the company, and we look forward to working with the Legitify team on its ambitious plans.”

Javier Extebeste, Chairman of Rebay Ventures, shares: “We believe that superior products develop superior businesses. Legitify and its founders accumulate the drive, user understanding and legal expertise to build superior products and continue as a frontrunners in the massive digital notarisation market.”

As Legitify embarks on this exciting new chapter, the company is poised to further disrupt the legal tech market and redefine the standards of efficiency, accessibility, and security in online notarization services and broader legal processes.