Shares in the EMCA : the time is ripe for true no par value shares in the EU, and the 2nd directive is not an obstacle

The most interesting proposal in the draft European Model Companies Act ( EMCA) concerning shares and the focus of this Article is the recommendation to introduce true no par value shares, as they have been in use in the US for many years and were introduced in Australia, New Zealand but also Finland more recently. Contrary to what has often been assumed, the 2nd EU Company Law Directive does not preclude no par value shares. There is nothing in the wording of the Directive to suggest otherwise, and the reference in the Directive to shares without a nominal value is a reference to Belgian law, which has allowed true no par value shares in all but name since at least 1913. EU member states could therefore introduce such shares even for public companies. True no par value shares offer a far more flexible framework in case of capital increases or mergers, but since under a no par value system there is no link between par value and shareholder rights, additional disclosure about these rights might be warranted under a no par value system. Traditional par value shares offer no protection to creditors, shareholders or other stakeholders, so that their abolition should not be mourned. The threat of new share issues at an unacceptably high discount is more efficiently countered by disclosure and shareholder decision rights

Physicochemical properties and bioactive compounds of selected seed oils.

The physicochemical properties and chemical composition of oil extracted from five varieties of plant seeds (bittermelon, Kalahari melon, kenaf, pumpkin and roselle seeds) were examined by established methods. The thermal properties of extracted oils by differential scanning calorimetry were also evaluated. Sensorial profiles of these seed oils were defined through the CieLab (L*, a*, b*) colour. Most of the quality indices and fatty acid compositions showed significant (P < 0.05) variations among the extracted oils. Physicochemical properties of the oils extracted were iodine value, 86.0–125.0 g I2/100 g oil; saponification value, 171.0–190.7 mg of KOH/g of oil; acid value, 1.1–12.9 mg of KOH/g of oil, free fatty acid, 0.6–6.5 g/100 g of oil, and peroxide value 1.5–6.5 meq of O2/kg of oil. Palmitic, oleic and linoleic acids were the major fatty acids in all of the extracted seed oils except for bittermelon, where eleostearic acid was the major fatty acid. Gallic, protocatechuic, p-hydroxybenzoic, vanillic, caffeic, syringic, pcoumaric and ferulic acids were identified in the extracted plant oils. Among these, vanillic acid was predominant in all extracted oils. The oils were rich in tocopherols with g-tocopherol as the major components in all oil samples. Among the phytosterols, sitosterol was the major phytosterol extracted from the five plant seed oils. The seeds of these plants contain a great number of valuable minor compounds, which have a potential high value as food and for production of non-food products

Optimization of supercritical fluid extraction of phytosterol from roselle seeds with a central composite design model.

Recovery of phytosterol from roselle (Hibiscus sabdariffa L.) seeds via supercritical carbon dioxide extraction modified with ethanol was investigated at pressures of 200–400 bar, temperatures from 40 to 80 ◦C and at supercritical fluid flow rates from 10 to 20 ml/min. It was found that an entrainer such as ethanol could enhance the solubility and extraction yield of roselle seed oil from the seed matrix, compared to values obtained using supercritical CO2. After a typical run (holding period of 30 min, continuous flow extraction of 3 h), the results indicate that the oil recovery was optimal with a recovery of 108.74% and a phytosterol composition of 7262.80mgkg−1 at relatively low temperature of 40 ◦C, a high pressure of 400 bar and at a high supercritical fluid flow rate of 20 ml/min in the presence of 2 ml/min EtOH as entrainer. The solubility of roselle seed oil increased with temperature at the operating pressures of 200, 300 and 400 bar. Supercritical fluid extraction involved a short extraction time and the minimal usage of small amounts of entrainer in the CO2

A Shallow Ritz Method for Elliptic Problems with Singular Sources

In this paper, a shallow Ritz-type neural network for solving elliptic equations with delta function singular sources on an interface is developed. There are three novel features in the present work; namely, (i) the delta function singularity is naturally removed, (ii) level set function is introduced as a feature input, (iii) it is completely shallow, comprising only one hidden layer. We first introduce the energy functional of the problem and then transform the contribution of singular sources to a regular surface integral along the interface. In such a way, the delta function singularity can be naturally removed without introducing a discrete one that is commonly used in traditional regularization methods, such as the well-known immersed boundary method. The original problem is then reformulated as a minimization problem. We propose a shallow Ritz-type neural network with one hidden layer to approximate the global minimizer of the energy functional. As a result, the network is trained by minimizing the loss function that is a discrete version of the energy. In addition, we include the level set function of the interface as a feature input of the network and find that it significantly improves the training efficiency and accuracy. We perform a series of numerical tests to show the accuracy of the present method and its capability for problems in irregular domains and higher dimensions

Extraction of tocopherol-enriched oils from Kalahari melon and roselle seeds by supercritical fluid extraction (SFE-CO2).

Tocopherol-enriched oil was extracted by supercritical fluid extraction of carbon dioxide (SFE-CO2) from Kalahari melon and roselle seeds. The SFE-CO2 process was optimised using response surface methodology(RSM) with central composite design (CCD). Three SFE-CO2 parameters namely extracting pressure,extracting temperature, and flow rate of carbon dioxide were examined. The optimal SFE-CO2 conditions were determined and the quadratic response surfaces were drawn from the mathematical models. The optimal SFE-CO2 conditions for the extraction tocopherol-enriched oil from Kalahari melon seeds were: extracting pressure 290 bar, extracting temperature 58C, and flow rate of carbon dioxide 20 ml/min. The optimum conditions for roselle seeds were extracting pressure 200 bar, extracting temperature 80C, and flow rate of carbon dioxide 20 ml/min. These optimum conditions yielded tocopherol concentration of 274.74 and 89.75 mg/100 g oil from Kalahari seed and roselle seed, respectively. No significant(P > 0.05) differences were obtained between the experimental and predicted values

Optimization of processing parameters for the preparation of phytosterol microemulsions by the solvent displacement method

The purpose of this study was to optimize the parameters involved in the production of water-soluble phytosterol microemulsions for use in the food industry. In this study, response surface methodology (RSM) was employed to model and optimize four of the processing parameters, namely, the number of cycles of high-pressure homogenization (1−9 cycles), the pressure used for high-pressure homogenization (100−500 bar), the evaporation temperature (30−70 °C), and the concentration ratio of microemulsions (1−5). All responses—particle size (PS), polydispersity index (PDI), and percent ethanol residual (%ER)—were well fit by a reduced cubic model obtained by multiple regression after manual elimination. The coefficient of determination (R2) and absolute average deviation (AAD) value for PS, PDI, and %ER were 0.9628 and 0.5398%, 0.9953 and 0.7077%, and 0.9989 and 1.0457%, respectively. The optimized processing parameters were 4.88 (approximately 5) homogenization cycles, homogenization pressure of 400 bar, evaporation temperature of 44.5 °C, and concentration ratio of microemulsions of 2.34 cycles (approximately 2 cycles) of high-pressure homogenization. The corresponding responses for the optimized preparation condition were a minimal particle size of 328 nm, minimal polydispersity index of 0.159, and <0.1% of ethanol residual. The chi-square test verified the model, whereby the experimental values of PS, PDI, and %ER agreed with the predicted values at a 0.05 level of significance

The Guardian, April 9, 1982

Eight page issue of The Guardian, the official student-run newspaper for Wright State University. The Guardian has been published regularly since March of 1965.https://corescholar.libraries.wright.edu/guardian/1998/thumbnail.jp

Use of gas liquid chromatography in combination with pancreatic lipolysis and multivariate data analysis techniques for identification of lard contamination in some vegetable oils

A study was conducted to investigate the use of gas liquid chromatography (GLC) to identify lard (LD) contamination in palm oil (PO), palm kernel oil (PKO), and canola oil (CLO). Vegetable oils were deliberately adulterated with animal fats such as LD, beef tallow (BT), and chicken fat (CF) in varying proportions. In order to monitor the fatty acid (FA) compositional changes due to adulteration, GLC analyses of fatty acid methyl esters (FAME) were performed on 2-monoacylglycerol (2-MG) and neutral triacylglycerol (TAG) isolated from each sample. For the evaluation of FA data, multivariate statistical techniques were employed. The results showed that canonical discriminant (CANDISC) analysis was the most effective technique for discriminating LD-adulterated samples from those adulterated with other animal fats. Additionally, mathematical equations obtained by simple regression analysis could be used for quantification of LD contents in admixtures

Response surface modeling of processing parameters for the preparation of phytosterol Nanodispersions using an emulsification-evaporation technique.

The purpose of this study was to optimize the production parameters for water-soluble phytosterol nanodispersions. Response surface methodology (RSM) was employed to model and optimize three of the processing parameters: mixing time (t) by conventional homogenizer (1–20 min), mixing speed (v) by conventional homogenizer (1,000–9,000 rpm) and homogenization pressure (P) by high-pressure homogenizer (0.1–80 MPa). All responses [i.e., mean particle size (PS), polydispersity index (PDI) and phytosterols concentration (Phyto, mg/l)] fitted well to a reduced quadratic model by multiple regressions after manual elimination. For PS, PDI and Phyto, the coefficients of determination (R 2) were 0.9902, 0.9065 and 0.8878, respectively. The optimized processing parameters were 15.25 min mixing time, 7,000 rpm mixing speed and homogenization pressure 42.4 MPa. In the produced nanodispersions, the corresponding responses for the optimized preparation conditions were a PS of 52 nm, PDI of 0.3390 and a Phyto of 336 mg/l