Poland’s coal-related mercury emissions revised upward, significantly

first_imgPoland’s coal-related mercury emissions revised upward, significantly FacebookTwitterLinkedInEmailPrint分享MetaMag:Polish coal-fired power plants may be cheating the European Union when reporting their toxic mercury emissions, Gazeta Wyborcza reports. As a result, a huge year-on-year increase in emissions from Europe’s biggest coal plant may be even higher than first thought.Last month META broke the story that mercury emission from Polish coal had jumped by more than 87.5% in just one year. EU data showed emissions from the giant Bełchatów plant in central Poland were eighteen times higher in 2016 than the previous year. Now a Gazeta Wyborcza story published last week has claimed that the mercury emissions for 2016 – reported as an enormous 2.82 tonnes – could in reality be even higher. The paper was shown emissions monitoring data that experts said point to mercury emissions of closer to 4.2 tonnes – 1.5 tonnes more than reported.Mercury is a dangerous neurotoxin which damages human health and can destroy lives. Europe has committed to the Minamata Convention to phase out and limit mercury emissions from human sources and the EU’s Mercury Regulation was adopted last year. Across Europe burning coal is the single biggest source of mercury pollution entering the air. It is often carried over long distances and finds its way into the food-chain through bioaccumulation in large fish.Pressure grew on plant owner PGE to explain the discrepancy as campaigners explained that the increase was due to a new European law that requires the emissions reported to European authorities be based on actual monitoring data. Reported figured were previously estimated. PGE’s estimations for 2015 had been 18 times lower than the reported measured emissions for 2016.After digging deeper into the story, Gazeta Wyborcza reported that even under the new EU monitoring and reporting regime, the plant operators are allowed to take periodic measurements and then declare an average across the year. It is therefore possible that higher measurements were discarded and lower ones used to calculate annual emissions. Wyborcza also said the same practice may be being used by other power stations, including the Pątnów and Turów plants.More: Polish coal may be cheating EU on toxic mercurylast_img read more

Kentucky plant headed for early-2019 closure

first_imgKentucky plant headed for early-2019 closure FacebookTwitterLinkedInEmailPrint分享Utility Dive:Henderson Municipal Power and Light in Kentucky will close its coal plant early next year and turn to the open market for its power needs, as the aging plant’s energy production is consistently more expensive than available supplies.In a letter earlier this month, the Midcontinent ISO (MISO) approved the shutdown of Units 1 and 2 effective Feb.1, 2019, after determining the generation was not necessary as a system support resource.Coal-fired generators continue to close down, and Henderson’s power plant is only the most recent example. According to the Sierra Club, the plant is the 277th coal generator to close since 2010. And new research finds closures are accelerating.The Institute for Energy Economics and Financial Analysis (IEEFA) on Thursday released an analysis estimating 15.4 GW of coal-fired capacity will close this year, including 44 units at 22 plants. This year at least 11 GW have retired and the final tally is predicted to eclipse the previous record of 14.7 GW retired in 2015. IEEFA estimates another 21.4GW of coal-fired capacity will close over the next six years.“The competitive environment for coal-fired power in the generation marketplace is becoming ever more challenging,” Seth Feaster, IEEFA data analyst and author of the report, said in a statement. He pointed to the declining cost of renewables and natural gas prices that “are expected to remain low for the foreseeable future.”As for the Henderson plant, MISO informed Big River three weeks ago that “the decision to retire is considered final and the existing interconnection rights for the generators will be terminated as of the retirement date.”More: Kentucky coal plant to close, latest among accelerating shutdownslast_img read more

Juventus will sell Paulo Dybala to fund move for Manchester United transfer target Joao Felix

first_imgJuventus hope the sale of Paulo Dybala could raise in the region of €100millionJuventus hope to raise in the region of €100million from the sale of Paulo Dybala in a bid to raise funds to finance a move for Benfica sensation Joao Felix.The 19-year-old has been dubbed the most exciting talent in Portuguese football since Cristiano Ronaldo and enhanced his burgeoning reputation in midweek with a hat-trick against Eintracht Frankfurt in a Europa League quarter-final first leg.Juventus have already committed to paying Aaron Ramsey a reported £400,000-a-week having confirmed his transfer from Arsenal in February and handed Cristiano Ronaldo an even more lucrative contract when they signed him from Real Madrid last summer.AdvertisementAdvertisementDybala, meanwhile, has struggled to maintain a regular starting position in Max Allegri’s side and could, according to Tuttosport, be deemed surplus to requirements in the summer, despite having scored 10 goals in 37 appearances this season.ADVERTISEMENTMore: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityManchester United have been linked with Dybala in the past and are also credited with an interest in Felix, along with Manchester City, Bayern Munich, Real Madrid an Barcelona.Ole Gunnar Solskjaer is expected to oversee a major overhaul of his first team squad this summer and will focus on strengthening at full-back, centre-half and a creative forward capable of playing on the right wing.Speaking about the task he faces in rejuvenating his squad in the summer Solskjaer said: ‘I’m under no illusions that this is not going to be plain sailing, it’s going to be hard.‘It’s going to be survival of the fittest or survival of the best. That’s how ruthless we have to be. We need players here who are going to be able to take us forward. Juventus will sell Paulo Dybala to fund move for Manchester United transfer target Joao Felix Advertisement Joao Felix scored a hat-trick in Benfica’s win over Eintracht Frankfurt in midweek (Picture: Getty)‘That means culture in the dressing room and what we do every single day here to make us challenge again.‘Liverpool and City are too far ahead at the moment for what we like. We played against a Barcelona team that sets the standard in European football.‘We’re under no illusion it’s going to be hard work and there will be some tough decisions made by me, Mike [Phelan] and the club.‘We have a certain standard here. We got a great boost, now it’s more challenging times with the results and performances.’More: Manchester United FCRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starNew Manchester United signing Facundo Pellistri responds to Edinson Cavani praiseEx-Man Utd coach blasts Ed Woodward for two key transfer errors Comment Metro Sport ReporterSaturday 13 Apr 2019 1:07 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link402Shares Advertisementlast_img read more

David Ortiz shooting was a hit gone wrong, police say

first_imgTurns out the David Ortiz shooting in the Dominican Republic was nothing more than an unfortunate case of mistaken identity.According to The Associated Press, National Police spokesman Frank Félix Duran Mejía revealed Sunday that the Red Sox legend was sitting near the intended victim after a suspected drug trafficker offered to pay $30,000 for the shooting that ended up wounding the slugger instead. Mets mistakenly announce two living 1969 players as dead Duran Mejía said the alleged mastermind of the attack — identified June 19 as Víctor Hugo Gómez Vasquez — had so far paid only $10,000 to those hired to arrange the killing of his cousin, Sixto David Fernández.Duran Mejía added that Gómez Vasquez was afraid Fernández would tell police that his relative was in the Dominican Republic and blamed the cousin for an earlier arrest.  Related News Gómez Vasquez has denied the attempted murder of Fernández and Ortiz. MLB All-Star Game 2019: Complete list of AL, NL rosters Pedro Strop rips Yasiel Puig after hit by pitch incident: ‘He’s stupid as f—’ Ortiz, 43, was at a Santo Domingo bar in his native Dominican Republic the night of June 9 when a suspect shot him at close range. So far, 14 people have been taken into custody in connection with the shooting. Authorities are still searching for others involved.The retired Red Sox star underwent surgery in the Dominican Republic following the shooting, and doctors removed his gallbladder and part of his intestines. He was then transported to Boston. He continues to recover from his injuries there, having been moved out of the intensive care unit.Ortiz was a 10-time All-Star who led the Red Sox to three World Series titles.last_img read more

Macular Degeneration: What Should I Be Taking?

first_imgSubmitted by Dr. Penny Reck for Clarus Eye CenterIf you have age-related macular degeneration (AMD), questions regarding vitamin supplements and nutrition may frequently pop in your head.  As a vitreoretinal specialist and surgeon, I frequently hear this from patients with AMD.   Below I will address the vitamin supplementation recommended for AMD patients, along with good dietary choices.AMD and Vitamins:“Doc, should I be taking special eye vitamins?  If so, what kind?”  If you do not have AMD, there is not a study that recommends a special formulation developed specifically for the eye.  If you have AMD, then the answer is, “Maybe, it depends.”  What does it depend on?  A few factors, such as:Your stage of AMDAMD is classified as nonexudative (“dry”) or exudative (“wet”)There are 3 stages in dry AMD:  early, intermediate, advancedWet AMD is classified as advancedWhether or not you have the advanced stage of AMD in one eyeYour smoking status Facebook0Tweet0Pin0 If you have intermediate AMD in either eye or have any form of advanced AMD in one of your eyes, then the vitamin supplementation is recommended according to the Age-Related Eye Disease Studies (AREDS or AREDS2) that were performed by the National Eye Institute (NEI) to slow progression of disease.  However, if you are a smoker, the AREDS2 formulation is recommended due to the removal of supplemental beta-carotene in the newer AREDS2 formula.  Prior studies have demonstrated an increased risk of lung cancer in smokers associated with taking supplemental high doses of beta-carotene.More detailed information regarding AREDS and AREDS2 can be found at the NEI’s website.AMD and NutritionWhat should you be eating?  Studies performed prior to the AREDS studies showed that eating foods rich in the carotenoids, lutein and zeaxanthin, can also help decrease your risk of AMD.  Carotenoids are organic pigments found in nature that provide a variety of functions.  In humans they act as antioxidants and have a protective function against oxidative processes that can injure the cells in the retina, such as the degenerative process that occurs in AMD.Green leafy vegetables (such as spinach, kale, collard greens) are high in lutein, but several foods of other colors (such as corn, oranges, orange peppers, squash, red grapes) also carry high percentages of carotenoids.  Therefore, it is important to try to eat a variety of different colors of produce in your diet.Additional Info and ResourcesHere are some additional informative resources:The National Eye InstituteAmerican Macular Degeneration FoundationSaving Vision (online resource provided by the American Society of Retinal Specialists)Get Eye Smart.org (eye health information from the American Academy of Ophthalmologists)Eye Wiki (online “eye encyclopedia” written by eye physicians and surgeons)last_img read more

Saints start second half of BCIHL schedule with tough challenge at home against SFU

first_img“We’ll need to find our legs quickly on Saturday night and play a smart, disciplined game if we’re going to beat a very good opponent.”The 12-0 Saints have faced SFU once this season, charging out to a five-goal lead on the road on November 3rd and holding on for a 5-3 victory.That win ended the Clan’s 25-game home unbeaten streak, so there’s no doubt that SFU will be motivated to return the favour. With a victory on Saturday night, the Saints would set a new BCIHL record for consecutive wins with 13.Selkirk tied the existing 12-game record when they defeated the University of Victoria in their final game of 2012 in early December.Dubois said that one benefit of the long break was the chance for players to rehab injuries and return to the ice fully healthy for the stretch drive of the regular season.“With the exception of Stephen Saretsky, who hasn’t played yet this season, we’re 100 percent healthy and ready to go,” Dubois explained.”We may make some choices based on what we see from the guys this week in terms of their conditioning, but it’s good to have all our guys available for this first time since early in the season.”SFU is led offensively by forwards Ben Van Lare and Jono Ceci, who finished first and second in BCIHL scoring last season.The dynamic duo is joined up the Clan’s top line by three-year WHL product Brenden Silvester, who joined the team at Christmas and has already scored five times in two appearances. There’s no easing into the second half of the B.C. Intercollegiate Hockey League regular season for the Selkirk College Saints.The Saints play host to second-place Simon Fraser University Clan Saturday at 7:30 p.m. at the Castlegar Recreation Complex.However, before the Clan can ready themselves to knock off the undefeated Saints, the Burnaby-based club must take to the road Friday for a date south of the 49th parallel against the Eastern Washington Eagles in Cheney, Wash.“SFU certainly had the jump on us in terms of getting back onto the ice, and they’ll be playing their sixth game since Christmas while we’ll be playing our first,” said Selkirk head coach Jeff Dubois.The Clan sit just three points back in the league standings at 10-1-1.“That adds to the challenge for us, but it’s not going to be used as an excuse,” Dubois added.last_img read more

BREEDERS’ CUP ANNOUNCES “KID REPORTER” INTERVIEW SERIES DURING 2016 BREEDERS’ CUP WORLD CHAMPIONSHIPS

first_imgARCADIA, Calif. (October 28, 2016) – Today Breeders’ Cup announced that Maddie Stevens, the 7-year old daughter of 10 time Breeders’ Cup Champion jockey and acclaimed actor Gary Stevens, will host a series of all access interviews with several of horseracing’s most influential figures. A horseracing aficionado, Maddie has spent her entire life deeply involved in the horseracing community. Ahead of and during the 2016 Breeders’ Cup World Championships, Maddie will conduct interviews with some of the sport’s most influential names, including leading Breeders’ Cup jockeys, partners, executives and horses. In the weeks leading up to the Breeders’ Cup, Maddie will meet with famed jockeys Victor Espinoza, winner of the first ever Grand Slam title, and Mike Smith, the winningest jockey in Breeders’ Cup history, to get their insight on the sport of horse racing and their take on this year’s Breeders’ Cup World Championships. Maddie will also meet with Goodie Girls Cupcakes to exclusively unveil the Breeders’ Cupcake and pay a visit to California Chrome, Tepin, Songbird, Beholder, and Stellar Wind, five of this year’s leading contenders. About Breeders’ CupThe Breeders’ Cup administers the Breeders’ Cup World Championships, Thoroughbred racing’s year-end Championships. The Breeders’ Cup also administers the Breeders’ Cup Challenge qualifying series, which provides automatic starting positions into the Championships races. The 2016 Breeders’ Cup World Championships, consisting of 13 grade I races with purses and awards totaling $28 million, will be held November 4-5 at Santa Anita Park in Arcadia, Calif., and will be televised live by the NBC Sports Group. Breeders’ Cup press releases appear on the Breeders’ Cup Web site, www.breederscup.com. You can also follow the Breeders’ Cup on social media platforms Facebook, Twitter, Instagram, Snapchat and YouTube To follow Maddie and stay up-to-date with news from the 2016 Breeders’ Cup World Championships, click here and hereMedia Contact:Jim Gluckson, Breeders’ Cup, 212-230-9512, [email protected] Hayley Karlan, Nike Communications, 646-654-3445, [email protected] Maddie Stevens, Daughter of Hall of Fame jockey, Gary Stevens, to Conduct “All Access” Interviews with Leading Breeders’ Cup Participants, Executives, and Partnerscenter_img “We are excited that Maddie will be joining the Breeders’ Cup team this year,” said Peter Rotondo, Vice President of Content for Breeders’ Cup. “Maddie has more horse racing knowledge than many in the industry and is the perfect person for the job, her subjects better be ready for any and all questions!” -30- Days ahead of the Breeders’ Cup, Maddie will also be on-site at several of the most exciting events, including the post position draw for both the Classic and the Longines Distaff and the highly anticipated Taste of the World event at Warner Bros. Studios. Additionally, she will conduct a one-on-one interview with Bob Baffert, one of horseracing’s most renowned trainers whose past horses include 2015 Triple Crown and Grand Slam winner American Pharaoh.last_img read more

Ganymede Age Threatened by Magnetism

first_imgThe biggest moon in the solar system is Ganymede, the third large moon out from Jupiter.  Larger than Mercury, Ganymede has a heterogeneous surface of dark and light areas (picture), grooved terrain, abrupt changes of landforms, and bright splashes where impacts have scarred its icy surface (gallery).  What goes on inside, though, is more surprising: it has an intrinsic magnetic field.  Researchers could only make it last for the assumed age of the solar system by appealing to “special conditions” that are not necessarily compatible with theories of its formation.    Bland, Showman and Tobie, writing in Icarus Dec 2008,1 realized that an intrinsic magnetic field requires a liquid core in which convection can occur to drive a dynamo.  A liquid core requires heat.  If they could find ways to stop runaway cooling inside the moon, maybe it would stay hot enough to maintain the magnetic field for 4.5 billion years.    They tried all kinds of things to keep the core hot.  They modeled Ganymede’s orbit passing through a resonance that would increase tidal pumping.  They varied the silicate rheology.  They altered Jupiter’s tidal dissipation factor.  They played with the size of the ice shell.  They imagined partial melting in the silicate mantle.  Nothing worked.  “We find that, contrary to expectations, there are no physically plausible scenarios in which tidal heating in the silicates is sufficient to cause the thermal runaway necessary to prevent core cooling.”    The only other possibility was if the amount of sulfur in the core was very low (less than 3%) or very high (greater than 21%).  Neither of those options was palatable, but they were stuck: “we must appeal to the special conditions described above to explain the presence of the field.”  At the end of the paper they tossed out one other possibility: late differentiation.  If the core didn’t form until 1 billion years ago (about 1/5 the assumed age of the moon), then convection might last for a billion years.  Either way requires invoking special conditions:We have shown that production of Ganymede’s magnetic field by secular cooling and chemical convection requires that a very specific set of conditions be met: the mass fraction of sulfur in the core must be low (or alternatively very high), the core must have formed hot, and the silicate mantle must be able to cool rapidly (i.e.  it must have a viscosity consistent with wet olivine).  If any of these criterion are not met magnetic field production fails.  These results contrast with previous workers who find that compositional convection can drive a core dynamo under a broad range of conditions.2Speaking of Mercury, which is slightly smaller than Ganymede, Dr. D. Russell Humphreys celebrated a confirmed prediction in the current Journal of Creation:Mercury’s magnetic field matches the measurements from the MESSENGER spacecraft (07/09/2008).  He adds this to his list of predictive successes for the magnetic fields of the outer planets.  Humphreys’ model assumes that magnetic fields are young – thousands of years old, not billions.1.  Bland, Showman and Tobie, “The production of Ganymede’s magnetic field,” Icarus 198 (Dec 2008), pp. 384�399, doi:10.1016/j.icarus.2008.07.011.2.  reference cited by Bland et al: S.A. Hauck, J.M. Aurnou and A.J. Dombard, “Sulfur’s impact on core evolution and magnetic field generation on Ganymede,” J. Geophys. Res. 111 (2006) 10.1029/2005JE002557 E09008.And so another phenomenon doesn’t fit the consensus view of the age of the solar system.  Creationists who think they are escaping difficulties by accepting the consensus age are merely trading one set of problems for another.  Every view has problems; face it.  But don’t think the long-age evolutionary naturalistic view is simple and straightforward.  When they pile on miracles needed to get their physicalist scenarios to work, then the appeal to miracles becomes academic: do you want purposeful miracles, or miracles of chance?  Like ketchup with fries, miracles go better with design.    This paper does not support a view that Ganymede is a few thousand years old, of course, but neither does it rule it out.  What it does, though, is put plausible upper limits on the age of Ganymede, beyond which appeals to highly contrived special conditions are required.    Reconstructing the core history of Ganymede can only be done with scientific models.  Being simulations with simplifying assumptions, models can only be judged by subjective criteria of plausibility.  If you think that it is plausible to insert special conditions to form Mercury, Venus, Earth, the moon, Mars, Jupiter, Io, Europa, Ganymede, Callisto (which has an induced magnetic field), Jupiter’s gossamer rings, Saturn, the F-ring, the A-ring, the C-ring, the D-ring, Enceladus, Rhea, Titan, Hyperion, Iapetus, Uranus, the rings of Uranus, Miranda, Neptune, the rings of Neptune, Triton, comets, binary asteroids and the Sun-Earth diameter, then be our guest.  Just admit that you are, in effect, applying your own intelligent design to imaginary models of reality, not to reality itself.(Visited 15 times, 1 visits today)FacebookTwitterPinterestSave分享0last_img read more

7 DIY Filmmaking Techniques Using the Versatile Wheelchair Dolly

first_imgThe wheelchair dolly is a tried-and-true DIY tool — for projects of all sizes. Check out these 7 tips on how to use one to improve your film.Cover Image of Jean-Luc Godard on the set of Breathless (via Studio Canal).There are plenty of dolly options available for filmmakers at all levels of production. Even for those looking for DIY options can find tons of great resources to put something together on the cheap. However, if you’re looking for one simple solution (which can actually be much more versatile and fun), consider the indie-filmmaker’s favorite — the wheelchair dolly.While there are some wheelchair-style dollies specifically for filmmaking (all great options), let’s focus on using a standard-issue wheelchair, which you can often find secondhand at thrift stores or online (here’s a link to Ebay). Once you’re all set, here are seven creative ways to put your DIY wheelchair dolly to use.1. Push or PullImage via AMC.Let’s start with the basics. Using a wheelchair dolly is great for pushing in or pulling out shots. You’ll usually see these types of shots in large-scale productions, as they both see a lot of use for narrative effect (creating important moments) or for clarity of composition. If you keep the movement short and straight, the wheelchair will work very much like your standard track-dolly setup, but without all the assembly and breakdown.Bonus Tip: if you’re shooting solo or with an extremely small crew, you can always sit yourself in a wheelchair and do some short push or pull movements using only your feet. Try it — even a few inches can add style and depth to what would normally be a regular set shot.2. Walk and TalksImage from The West Wing via NBC.Along with straightforward push and pull shots for dramatic effect, a wheelchair is a great option for long tracking shots like the now-recognizable Aaron Sorkin-style Walk and Talk shot (which you can see parodied here). The wheelchair is great because your camera operator can face your subject or subjects while someone pulls them backward.3. Tracking Low AnglesImage via Tumblr.The flexibility a wheelchair offers to the camera operator while sitting is also great. You usually won’t need to lock the camera operator in, and they’ll have almost a full range of motion from the seat. As such, to get many low-angle tracking shots, you don’t need to assemble a tricky low-to-the-the floor dolly setup; you can simply direct your camera op to lean over and hold the camera at a low angle. This may make things a little less steady, but for shorter moves (and with surer-handed ops), it’s a solid technique.4. Curved Tracking MovesAnother aspect of the wheelchair dolly that makes it unique is the simple fact that it is not bound to a set of tracks. The wheelchair, by its nature, is more mobile and can perform complex and curved maneuvers. Try laying some track to recreate this famous circle move from Jean-Luc Godard’s French New Wave classic Breathless.5. Extremely Long Tracking ShotsImage via monnomestdavid.Similar to the Walk and Talk trick, using a wheelchair dolly for extremely long tracking shots is a great way to consolidate resources on DIY productions. The wheelchair can be quite effective, even with only a two-person crew: one to sit and one to move the wheelchair around. If you’re going over long distances, try situating your camera operator in a more relaxed and flexible position (they can also use a Steadicam or some other stabilizer). Be careful, though, with different floor textures (like thick carpet), thresholds between doorways, etc.6. Dolly ZoomsThe wheelchair dolly can also make it easier to perform dolly zooms (which is also known as the Hitchcock zoom or Vertigo Effect). With the camera operator sitting (or kneeling), their hands should be free enough to manually perform a zoom while someone pushes them in the chair at a medium to fast pace. You may have to do several takes, as hitting the focus will always be difficult during such a move, but the effort is worth it in the end.7. Using Natural GravityImage via Film Riot.Finally, one of the riskier wheelchair dolly tricks is to let things like gravity and inclines take control of your movements. These opportunities might not come up often, but if you ever need to simulate a character POV or follow a movement that rapidly increases in speed while slipping or sliding down, using a wheelchair in a controlled free fall move is a daring option. (Be sure to have plenty of people around to help guide and catch the camera op.)For more DIY production tips, check out some of these resources.Gear Hacks: DIY Camera Stabilizers and Rigs for Under $255 DIY Tutorials and Gear Hacks for Filmmakers5 DIY Tips for Your Next ShootPremiumBeat DIY ArchivesThree Ways To Light A Tent Scene On a Low Budgetlast_img read more

DLF raises Rs 3173 cr via QIP

first_imgNew Delhi: Mar 29 (PTI) Realty major DLF Friday said it has raised Rs 3,173 crore by selling shares to institutional investors through its QIP offer. DLF, the country’s largest real estate firm in market value, would utilise this amount mainly to prepay debt, which stood at around Rs 7,000 crore at the end of December 2018. On Monday, the company had launched its qualified institutional placement (QIP) issue, offering up to 17.3 crore shares to investors. The issue closed Thursday. In a regulatory filing, DLF Friday informed that the Securities Issuance Committee has approved the allotment of 17.3 crore equity shares to eligible qualified institutional buyers at an issue price of Rs 183.40 per share, aggregating to about Rs 3,172.82 crore. Sources on Tuesday had said that DLF’s QIP issue has been oversubscribed by two times, enabling the company to raise around Rs 3,200 crore. Major institutional investors who participated in QIP offer include Oppenheimer, UBS, HSBC, Marshall & Wace, Myriad, Key Square, Goldman Sachs, Indus, Eastbridge, Tata Mutual Fund and HDFC Mutual Fund, sources had said. This is the third major fundraising from DLF. In 2007, DLF raised about Rs 9,200 crore through an initial public offering (IPO). In 2013, the company had raised nearly Rs 1,900 crore through an institutional placement programme. Meanwhile, the committee Friday also approved the conversion of 24.97 crore compulsory convertible debentures (CCDs) issued to promoters entities into equal number of equity shares at Rs 217.25 per share. In December 2017, the company’s board had allotted on preferential basis 37.97 crore CCDs and nearly 13.81 crore warrants to promoters entities against their infusion of funds in DLF. DLF’s group Chief Financial Officer Ashok Tyagi recently said the QIP proceeds and further infusion of Rs 2,500 crore from promoters against the issue of warrants would help the company to significantly reduce its debt. DLF promoters K P Singh and family have already infused Rs 9,000 crore in the company and would pump in Rs 2,250 crore more. In lieu of this fund, DLF had issued CCDs and warrants to the promoters. As infusion of the fund by promoters could have led to an increase in their shareholdings beyond permissible limit of 75 per cent, the company planned QIP to maintain minimum public shareholding of 25 per cent in a listed entity. In August 2017, the promoters had sold the entire 40 per cent stake in rental arm DLF Cyber City Developers Ltd (DCCDL) for Rs 11,900 crore and infused bulk of this amount in the company to cut net debt.last_img read more