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IHUB to be bought by ADVFN.COM of the UK.
ADVFN PLC
05 September 2006
September 5, 2006
ADVFN plc ('ADVFN' or the 'Company')
Acquisition
ADVFN is pleased to announce that it has today entered into an agreement (the '
Acquisition Agreement') for the acquisition of 100 per cent of the issued share
capital of InvestorsHub.com Inc and SI Holdings, LLC for a cash consideration of
US $3 Million.
InvestorsHub.com Inc and SI Holdings, LLC operate two online investment
community websites in the North American market, which have over 58 million
combined page views a month. These financial websites are very similar to ADVFN
in both content and context and are highly complementary to ADVFN's current
business model. Just like ADVFN, InvestorsHub.com and SI Holdings, LLC (Silicon
Investor) host large investor communities, providing a robust environment for
stock information and investor discussion. In the year ended 30th June 2006,
InvestorsHub.com Inc and SI Holdings, LLC recorded aggregate unaudited profits
after tax of US $84,000 and had aggregate unaudited net assets of US $184,000.
ADVFN has also today entered into a placing agreement with Mirabaud Securities
Limited ( 'Mirabaud' ) pursuant to which Mirabaud has agreed to use reasonable
endeavours to raise an aggregate of up to £2,945,000 by the issue of up to
98,166,667 new ordinary shares in the capital of the Company at 3p per share.
The fund raising is conditional, inter alia, on the Acquisition Agreement
becoming unconditional in all respects save for any conditions relating to the
placing and admission of the new ordinary shares to trading on AIM. The proceeds
of the placing will be used to fund the consideration under the Acquisition
Agreement, with the balance to be used for general working capital purposes.
'I am delighted to announce the acquisition of InvestorsHub.com and Silicon
Investor. This purchase adds traffic equivalent to the ADVFN website's, already
high, current output in one transaction thereby giving our marketing and sales
infrastructure exciting scope for growth,' said Clem Chambers, CEO of ADVFN.
He continued: 'As well as large valuable audiences, InvestorsHub.com and Silicon
Investor are two sizeable communities who may benefit from ADVFN's premium
subscription packages.
InvestorsHub.com and Silicon Investor give us a platform for revenue and growth
in the US and Canada.'
Bob Zumbrunnen, President and Chief Executive Officer of InvestorsHub.com, said:
'We have had many suitors, but believe ADVFN is the perfect parent company for
us. With ADVFN's resources and financial tools, InvestorsHub.com
(www.investorshub.com) and Silicon Investor (www.siliconinvestor.com) will soon
be part of a great network of financial sites.'
Michael Hodges, Chairman of ADVFN, added: 'This acquisition delivers what we set
out to achieve in the US, bringing us a large audience. With a strong proven
team in the US and excellent scope to leverage our skills with premium data we
are very optimistic about the coming months.'
Enquiries
Francesca De Franco, ADVFN, 020 7070 0932 or email: francescad@advfn.com
Graeme Thom, Grant Thornton, 0870 991 2790
TMJG -- Tamija Gold & Diamond Exploration, Inc.
Com (1 Cent)
TAMIJA GOLD & DIAMOND EXPLORATION, INC COMMENCES TRADING
Hollywood, FL - _September 5, 2006 - Tamija Gold & Diamond Exploration, Inc. (OTC: TMJG), a multi-faceted resource company specializing in the exploration and mining of diamonds and gold, is pleased to announce that it has begun trading on the Pinksheets.
Tamija is well positioned for growth and rapid expansion of diamond and gold exploration and mining operations, as the Company currently continues to advance with encouraging exploration upon two licensed properties in the Central African Republic ("C.A.R."). Although vast areas of Central African Republic's probable diamond deposits remain relatively unexploited, the Country is still regarded as one of the world's top five diamond producing sources for gem quality diamonds.
The coordinates of each of Tamija's licensed properties are within formations of highly desirable geological characteristics. Specifically, the properties are located upon the Mouka-Ouadda and Carnot basins respectively. These are the two significant basins in C.A.R., which were formed by geophysical movements millions of years ago, and today are world renowned for yielding highly valued surface diamonds.
________________________________
For more information please visit the company's website at www.tamijainc.com
Forward Looking Statements
This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Tamija Gold & Diamond Exploration, Inc. undertakes no obligation to publicly update such forward-looking statements to reflect subsequent
slap slap, sad
GMML - USA OTCBB company very bullish in gold property in British Columbia, Canada
Tuesday September 5, 10:30 am ET
Gemco completes its first phase work program at its Burns Mountain gold property
Gemco Minerals Inc., (GMML:OTCBB)
VANCOUVER, Sept. 5 /PRNewswire-FirstCall/ - Gemco Minerals Inc. is pleased to announce the completion of the first phase of trenching, gridding, sampling and geological mapping in the targeted Fosters Ledge area of its 100% owned Burns Mountain property. The 12,685 acre property is located on the edge of the interior plateau in the Northern Quesnel Highlands in the East-Central region of British Columbia. This area is known as the Cariboo Gold Belt, where more than 3.83 million ounces of gold have been extracted over the past 60 plus years.
ADVERTISEMENT
Gemco completed its 43-101 geologist report for the Burns Mountain property in March 2005, prepared by Geologist, Robert "Ned" Reid P.Eng., Geo., and filed with the SEC. On Mr. Reid's recommendation and under his supervision, Gemco contracted out a D6 Caterpiller and 225 Cat. excavator to perform clearing, road-works and trenching onsite. Soil sampling and gridding were conducted in the targeted area of interest, being the juncture zone between NE and NW trending faults in the Fosters Ledge area. Once contoured, an anomalous area that converged on this juncture zone was revealed. Visible pyrite was observed (one of the minerals known to carry gold in the area). During the trenching and gridding, more pyrite was observed as well as other formations which warrant further investigation. This potential fault is expressed on the surface by a straight steep sided gully about 1,000 ft long where rock samples were taken and have been shipped to Eco-Tech Labs in Kamloops, BC for assaying. One significant feature is that much of the gold produced in the area has come from benches on Burns Creek as well as other creeks draining from the Burns and Nelson Mountains. Previous assayed samples from the Fosters Ledge have indicated up to 3 ounces of gold per tonne. Another significant note is the fineness of the Burns Mountain gold which is consistently recorded at 920+ fine in historical records. Tom Hatton, company President who placer mined in the area for many years, also reports that all gold he recovered was 920+ fine. The fineness is above that of most other local areas which generally range from 680 fine up to 870 fine. Tom Hatton also discovered an 8.5 oz gold nugget which is the largest gold nugget recorded in this area in recent years.
Further reconnaissance will continue on the Fosters Ledge and Perkins Gulch areas. Forestry roads provide good access and only a short trail is to be constructed into the permitted drill site. A cabin exists on the property and with very little work, can be made habitable. Gemco's Burns Mountain claims are surrounded by one of the largest exploration companies in the region, with proven gold reserves of over 60,000 ounces at the Bonanza Ledge discovery which was made in 2001. This company is in the process of permitting an open pit mine to process 500,000 tonnes per year. The planned mill will be located within a few miles of Gemco's property and near the Bonanza Ledge discovery. The mill will be the first new gold mill erected in British Columbia in several years.
Gemco's exploration program to date encompasses less than 20% of its entire holdings on the Burns Mountain Property. With the encouraging results, Gemco's mandate is to increase its budget and take a much more aggressive approach in carrying out its exploration and drilling program.
On behalf of the board of Directors,
Gemco Minerals Inc.
"Thomas Hatton"
Thomas Hatton
President
Safe Harbor Statement under the United States Private Securities Litigation Act of 1995: This release made may contain forward-looking statements that are affected by known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed, implied or anticipated by such forward-looking statements. The Company does not intend to update this information and disclaims any legal liability to the contrary.
CONTACT: on Gemco Minerals Inc. please contact Investor Relations: Tangent Management Corp., Steve Smith, Tel: (604) 642-0115, Toll: 1-866-345-0115, Email: info@gemcominerals.net, Website: www.gemcominerals.net, Gemco Toll free: 1-866-848-2940
--------------------------------------------------------------------------------
Source: Firstline Environmental Solutions Inc.
NASD Fines Morgan Stanley Firms $2.9 Million for Widespread Violations of NASD Rules
Tuesday September 5, 10:52 am ET
Number and Scope of Violations Indicate Extensive Reporting Problems at Both Firms
WASHINGTON, Sept. 5 /PRNewswire/ -- NASD announced today that it has imposed fines totaling $2.9 million against Morgan Stanley & Co., Inc. (MSCO) and Morgan Stanley DW Inc. (MSDW) for extensive violations dealing with reporting obligations, best execution, short sales, and a range of other NASD, Securities and Exchange Commission (SEC) and Municipal Securities Rulemaking Board (MSRB) rules.
In addition to the fines, both firms will provide reports to NASD detailing the corrective actions completed and the ongoing corrective actions being taken to ensure that each firm has adequate policies, procedures, systems and training necessary to ensure regulatory compliance.
"MSCO and MSDW had numerous types of reporting violations and the scope of those violations indicated a failure to adequately address compliance needs of the firms," said NASD Executive Vice President Tom Gira. "But MSCO and MSDW also undertook independent, internal reviews to determine the causes and extent of their trade reporting problems, provided their findings to NASD, and were otherwise highly cooperative with NASD's investigation. The firms' cooperation is reflected in the sanctions."
NASD found that MSCO and MSDW each committed numerous violations of federal securities laws, NASD rules and MSRB rules during the seven-year period from 1999 to 2006. Among the most significant was a series of violations of the Order Audit Trail System (OATS) reporting requirements, which resulted from MSCO's pervasive inability to properly track and report OATS data. Additionally, MSDW had numerous regulatory violations involving the firm's failure to adequately price, sell and report corporate and municipal bond transactions, and will make nearly $30,000 in restitution payments to affected customers. NASD also found that both MSCO and MSDW failed to implement effective supervisory systems and written supervisory procedures necessary to ensure compliance with federal securities laws, NASD rules and MSRB rules.
NASD also found a variety of other regulatory violations at both firms. NASD found that MSCO:
* failed to timely report or incorrectly reported thousands of
transactions through the Nasdaq Market Center in Nasdaq National Market
securities, OTC Equity securities and listed securities;
* executed thousands of short sales transactions without ensuring that the
firm could deliver or arrange to borrow the securities by the settlement
date;
* failed to execute hundreds of customer trades at the best available
price, and will make nearly $5,000 in restitution payments to affected
customers;
* failed to report or incorrectly reported thousands of transactions in
corporate bonds; and
* created locked and crossed market conditions in hundreds of instances.
NASD found that MSDW:
* failed to send, or failed to send in a timely manner, required documents
to hundreds of customers in connection with municipal bond transactions;
* failed to report or incorrectly reported thousands of transactions in
corporate and municipal bonds; and
* failed to enforce the firm's written supervisory procedures with respect
to municipal bonds.
In settling these matters, MSCO and MSDW neither admitted nor denied the charges, but consented to the entry of NASD's findings.
Investors can obtain more information about, and the disciplinary record of, any NASD-registered broker or brokerage firm by using NASD's BrokerCheck. NASD makes BrokerCheck available at no charge to the public. In 2005, members of the public used this service to conduct more than 4.3 million searches for existing brokers or firms and requested more than 194,000 reports in cases where disclosable information existed on a broker or firm. Investors can link directly to BrokerCheck at http://www.nasdbrokercheck.com. Investors can also access this service by calling 1-800-289-9999.
NASD is the leading private-sector provider of financial regulatory services, dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. NASD touches virtually every aspect of the securities business -- from registering and educating all industry participants, to examining securities firms, enforcing both NASD rules and the federal securities laws, and administering the largest dispute resolution forum for investors and registered firms. For more information, please visit our Web Site at http://www.nasd.com.
--------------------------------------------------------------------------------
Source: NASD
Parlux Stockholder Requests Approval To Increase Ownership Interest
Tuesday September 5, 10:44 am ET
FORT LAUDERDALE, Fla., Sept. 5 /PRNewswire-FirstCall/ -- Parlux Fragrances, Inc. (Nasdaq: PARL - News) announced today its Board of Directors had received a letter from Glenn Nussdorf advising that, as of August 28, 2006, he had acquired more than 5% of the Company's outstanding common stock in the open market. Mr. Glenn Nussdorf and or his brother Stephen Nussdorf (the "Nussdorfs") propose to acquire additional shares which could exceed fifteen percent (15%) and asked the Board to grant him Interested Stockholder Approval as defined in Section 203 of the Delaware General Corporation Law (DGCL).
The Interested Stockholder Approval was sought by the Nussdorfs, in order that their respective affiliates and associates would not be prohibited from engaging in a business combination with the Company as defined in DGCL Section 203 (c) (3). The Nussdorfs own 37% of E Com Ventures, Inc., a major customer of the Company ,and together with their sister Arlene Nussdorf, control Model Reorg, Inc., a fragrance distributor, retailer and manufacturer.
A special meeting of Parlux's Board of Directors was convened whereby it was agreed to grant the Nussdorfs Interested Stockholder Approval provided that the additional shares of common stock are not acquired directly from any members of Parlux's Board of Directors.
Parlux Fragrances, Inc. is a manufacturer and international distributor of prestige products. It holds licenses for Paris Hilton fragrances, watches, cosmetics, sunglasses, handbags and other small leather accessories in addition to licenses to manufacture and distribute the designer fragrance brands of Perry Ellis, GUESS?, XOXO, Ocean Pacific (OP), Maria Sharapova, Andy Roddick, babyGund, and Fred Hayman Beverly Hills.
The Company may periodically release forward-looking statements pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company or its industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, future trends in sales and the Company's ability to introduce new products in a cost-effective manner. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Source: Parlux Fragrances, Inc.
PARL - Parlux Stockholder Requests Approval To Increase Ownership Interest
Tuesday September 5, 10:44 am ET
FORT LAUDERDALE, Fla., Sept. 5 /PRNewswire-FirstCall/ -- Parlux Fragrances, Inc. (Nasdaq: PARL - News) announced today its Board of Directors had received a letter from Glenn Nussdorf advising that, as of August 28, 2006, he had acquired more than 5% of the Company's outstanding common stock in the open market. Mr. Glenn Nussdorf and or his brother Stephen Nussdorf (the "Nussdorfs") propose to acquire additional shares which could exceed fifteen percent (15%) and asked the Board to grant him Interested Stockholder Approval as defined in Section 203 of the Delaware General Corporation Law (DGCL).
The Interested Stockholder Approval was sought by the Nussdorfs, in order that their respective affiliates and associates would not be prohibited from engaging in a business combination with the Company as defined in DGCL Section 203 (c) (3). The Nussdorfs own 37% of E Com Ventures, Inc., a major customer of the Company ,and together with their sister Arlene Nussdorf, control Model Reorg, Inc., a fragrance distributor, retailer and manufacturer.
A special meeting of Parlux's Board of Directors was convened whereby it was agreed to grant the Nussdorfs Interested Stockholder Approval provided that the additional shares of common stock are not acquired directly from any members of Parlux's Board of Directors.
Parlux Fragrances, Inc. is a manufacturer and international distributor of prestige products. It holds licenses for Paris Hilton fragrances, watches, cosmetics, sunglasses, handbags and other small leather accessories in addition to licenses to manufacture and distribute the designer fragrance brands of Perry Ellis, GUESS?, XOXO, Ocean Pacific (OP), Maria Sharapova, Andy Roddick, babyGund, and Fred Hayman Beverly Hills.
The Company may periodically release forward-looking statements pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company or its industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, future trends in sales and the Company's ability to introduce new products in a cost-effective manner. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Source: Parlux Fragrances, Inc.
G'morning ma'am
Welcome back greenspirit and thank you.
IMDS - Imaging Diagnostic Systems Licenses Small Animal Optical Scanning Technology to Bioscan for Molecular Imaging
Tuesday September 5, 9:30 am ET
FORT LAUDERDALE, Fla., Sept. 5 /PRNewswire-FirstCall/ -- Imaging Diagnostic Systems, Inc., (OTC Bulletin Board: IMDS - News), a pioneer in human laser optical imaging systems, announced that it has licensed its laser optical imaging technology for use in small animal imaging to Bioscan, Inc. IDSI granted Bioscan an exclusive worldwide license to manufacture and distribute optical imaging equipment incorporating IDSI's Laser Imager for Lab Animals (LILA) technology.
Under the agreement, Bioscan will pay an up-front license fee and royalty payments as the technology is commercialized. IDSI will transfer its small animal optical computed tomography (CT) technology, including licensing 10 issued and 3 pending US optical CT imaging patents.
Tim Hansen, Chief Executive Officer, Imaging Diagnostic Systems, said, "IDSI's many pioneering efforts in optical molecular imaging have all had the objective to capture functional information about molecular and cellular processes. As we successfully applied these techniques to human breast imaging in our CT laser breast imaging system, we also developed the LILA capabilities for pre-clinical small animal imaging."
The intellectual property embodied in US patent 5,952,664 protects the optical CT imaging of fluorophores; US patents 6,150,649, 6,331,700, and 6,681,130 protect the measurement of the low light levels emitted by these fluorophores. Earlier this month, IDSI received notification that their first pending LILA patent had been allowed by the US Patent and Trademark Office; it will issue shortly. Other pending US patents further strengthen IDSI's intellectual property portfolio in this area.
LILA is a helical, optical CT scanner that simultaneously acquires optical attenuation and green fluorescent protein (GFP) image data. It images fluorescence from GFP, expressed by the DNA of jellyfish, which has been transfected into mammalian cells such as cancer tissue. LILA also images the distribution of specific fluorescent probes in animals and measures tissue optical absorption at near-infrared wavelengths to provide an anatomic reference for the fluorescence distribution.
"We are very pleased to have Bioscan, a company with capabilities in the pre-clinical animal business, take forward the opportunities to move LILA technologies into the market mainstream. IDSI is focused on our CT laser breast imaging system family and on improving breast cancer detection and treatment methods. This is a win-win. Our shareholders will get value from IDSI's LILA developments and Bioscan will add a unique imaging technology to their offerings," commented Hansen.
Bioscan Inc. is a private company located in Washington, DC, with commercial activities in Europe, Asia and North America. The company has targeted the small animal imaging market for rapid growth. Optical imaging will add to Bioscan's growing list of product offerings, which include radio- probe synthesis, micro-SPECT and Nano-SPECT/CT systems. The company is focused on small-animal imaging which is rapidly becoming a cornerstone in biomedical research, serving as an important translation tool between traditional life sciences research and clinical applications.
Theodore Kleinman, Bioscan President and CEO, commented, "We are very enthusiastic about bringing IDSI's LILA technology to the small animal imaging market. The strong intellectual property position and the true tomographic product configuration of the LILA technology will allow Bioscan to bring a highly differentiated product to the market, enabling broad applications in the fast emerging optical molecular imaging field. We are particularly excited about the compatibility of this optical technology with our nuclear and X-ray CT imaging technologies embedded in our pre-clinical NanoSPECT/CT product."
Imaging Diagnostic Systems is seeking FDA Premarket Approval (PMA) for its Computed Tomography Laser Mammography (CTLM®) system to be used as an adjunct to mammography. The FDA has determined that the Company's clinical investigation is a non-significant risk (NSR) investigational device study because it does not meet the definition of a significant risk (SR) device under 812.3(m) of the investigational device exemptions (IDE) regulation (21 CFR 812). The CTLM® system is the first patented breast imaging system that utilizes state-of-the-art laser technology and patented algorithms to create 3-D images of the breast. It is a non-invasive, painless examination that does not expose the patient to radiation or require breast compression. The CTLM system is limited by United States Federal Law to investigational use only in the United States. Imaging Diagnostic Systems has received CE Marking, CMDCAS (Canada), Canadian License, China SFDA approval, UL listing, ISO 9001:2000, ISO 13485:2003 certification and FDA export certification for its CT Laser Mammography system.
Please visit related websites at: www.imds.com and www.bioscan.com for additional information.
As contemplated by the provisions of the Safe Harbor section of the Private Securities Litigation Reform Act of 1995, this news release may contain forward-looking statements pertaining to future, anticipated, or projected plans, performances and developments, as well as other statements relating to future operations. All such forward-looking statements are necessarily only estimates or predictions of future results or events and there can be no assurance that actual results or events will not materially differ from expectations. Further information on potential factors that could affect Imaging Diagnostic Systems, Inc., is included in the Company's filings with the Securities and Exchange Commission. We expressly disclaim any intent or obligation to update any forward-looking statements.
Investor Relations:
Rick Lutz
404-261-1196
lcgroup@mindspring.com
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Source: Imaging Diagnostic Systems, Inc.
and yest the sheeple follow ;-(
"We started this company from scratch" Hey thats about what the shareholders get too.
CKCM - Illinois Tool Works to Acquire Click Commerce
Tuesday September 5, 8:06 am ET
CHICAGO--(BUSINESS WIRE)--Sept. 5, 2006--Click Commerce, Inc. (NASDAQ:CKCM - News) today announced that it had reached a definitive agreement with Illinois Tool Works Inc. (NYSE:ITW - News) pursuant to which ITW will make a cash tender offer to acquire all of the common stock of Click Commerce, Inc., a leading provider of on-demand supply chain management solutions for a variety of worldwide industries.
As part of the agreement, ITW would purchase all of Click Commerce's outstanding shares for $22.75 per share. The total value of the transaction, including payment for outstanding stock options, would be approximately $292 million. The boards of directors of both companies have approved the transaction. ITW has agreed to commence the tender offer by Sept. 18, 2006. The tender offer will be open for at least 20 business days during the initial tender period and may be extended under certain circumstances. The agreement also provides for the payment to ITW of a $10 million cash termination fee by Click Commerce upon the occurrence of certain specified events. The purchase of shares pursuant to the tender offer would be followed by a merger that would result in any nontendering stockholders of Click Commerce receiving the same $22.75 per share in cash in the merger as tendering stockholders receive pursuant to the tender offer. The closing of the transaction is subject to certain conditions, including the tender of at least a majority of Click Commerce's shares and regulatory approval. Closing is expected to take place in the 2006 fourth quarter. The foregoing discussion is qualified in its entirety by the definitive agreement between the parties, which will be filed shortly as an exhibit to a Click Commerce filing with the Securities and Exchange Commission.
"This is great news for our stockholders, customers and employees," said Michael W. Ferro, Jr., chairman and chief executive officer at Click Commerce. "Looking to the future, by joining with ITW, we will have access to the financial resources to accelerate our growth strategy and continue to provide industry-leading solutions to our customers."
"Click Commerce has built a strong and profitable business working with manufacturing and industrial companies; business segments that we know well," added David B. Speer, chairman and chief executive officer of ITW. "As a part of ITW, the company represents a platform for growth for us. It is well positioned to expand its value-added software solutions to deliver a range of solutions that solve the increasingly-complex problems of today's supply chains."
Dynamic, multi-enterprise supply chains require sophisticated solutions. Click Commerce on-demand supply chain solutions connect enterprises with their suppliers, partners, distributors, dealers and customers to coordinate and optimize business processes, accelerate revenue, lower costs, and improve customer service. These solutions are built upon a service-oriented architecture, which enables the delivery of tailored solutions without the cost, development, and time required for customization.
Morgan Stanley acted as exclusive financial advisor and McDermott Will & Emery LLP acted as legal counsel to Click Commerce, Inc. in connection with the transaction.
About Click Commerce
Click Commerce, Inc., (Nasdaq: CKCM - News), a leading provider of on-demand supply chain management solutions, enables millions of users in 70 countries to collaborate, in real time, with business partners across the extended enterprise. Click Commerce solutions support the unique business processes of multiple industry segments such as manufacturing, aerospace and defense, and high-tech. Click Commerce enables corporations including Alaska Airlines, BASF, Citibank, Delphi, Eastman Kodak Company, Jabil Global Services, Lockheed Martin, Microsoft, Pier 1, Ryder, and Verizon to coordinate and optimize business processes, accelerate revenue, lower costs, and improve customer service. More information can be found at www.clickcommerce.com.
About ITW
ITW is a $12.8 billion in revenues diversified manufacturer of highly engineered components and industrial systems and consumables. ITW consists of approximately 700 business units in 48 countries and employs some 50,000 people.
NOTICE TO INVESTORS
This announcement is neither an offer to purchase nor a solicitation of an offer to sell securities. The tender offer for the outstanding shares of Click Commerce common stock described in this announcement has not commenced. At the time the offer is commenced, a subsidiary of ITW will file a tender offer statement with the Securities and Exchange Commission, and Click Commerce will file a solicitation and recommendation statement with respect to the offer. The tender offer statement (including an offer to purchase, a related letter of transmittal and other offer documents) and the solicitation recommendation statement will contain important information that should be read carefully before any decision is made with respect to the tender offer. Those materials will be made available to Click Commerce's security holders at no expense to them. In addition, all of those materials (and all other offer documents filed with the Securities and Exchange Commission) will be available at no charge on the Securities and Exchange Commission's Website at www.sec.gov.
"Safe Harbor" Statement under Private Securities Litigation Reform Act of 1995
Statements made in this press release, including those relating to the expected growth, timing and scope of the acquisition, and all other statements in this release other than historical facts are forward-looking statements and are made pursuant to the safe harbor provisions of the Securities Reform Act of 1995. Such statements involve risks and uncertainties, which may cause results to differ materially from those set forth in those statements. Either company may not be able to complete the Click Commerce acquisition on the terms summarized above or other acceptable terms, or at all, due to a number of factors, including the failure to obtain either regulatory approval or sufficient acceptances of ITW's offer by Click Commerce's stockholders. Also, among other things, continued unfavorable economic conditions (including fuel prices) may impact market growth trends or otherwise impact the demand for each company's products and services; competition from existing and new competitors and producers of alternative products will impact each company's ability to penetrate or expand its presence in new or growing markets; uncertainties relating to each company's ability to develop and distribute new proprietary products to respond to market needs in a timely manner may impact each company's ability to exploit new or growing markets; each company's ability to successfully identify and implement productivity improvements and cost reduction initiatives may impact profitability; and risks inherent in international operations including possible economic, political or monetary instability, may impact the level and profitability of the company's foreign sales. In addition to the factors set forth in this release, the economic, competitive, governmental, technological and other factors identified in each company's filings with the Securities and Exchange Commission, could affect the forward looking statements contained in this press release. Neither company has any obligation to revise or update these forward-looking statements to reflect events or circumstances that arise after the date of this press release or to reflect the occurrence of anticipated events.
Contact:
Click Commerce
John Tuhey, 312-377-3121
john.tuhey@clickcommerce.com
or
Illinois Tool Works
John Brooklier, 847-657-4104
jbrooklier@itw.com
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Source: Click Commerce, Inc.
NYFX - NYFIX, Inc. Announces $75 Million Private Equity Investment From Warburg Pincus
Tuesday September 5, 8:30 am ET
Lon Gorman Becomes Chairman of the Board and Howard Edelstein Becomes NYFIX Chief Executive Officer
NEW YORK, Sept. 5 /PRNewswire-FirstCall/ -- NYFIX Inc. (Pink Sheets: NYFX - News), a leader in technology solutions for the financial marketplace, today announced it has entered into a definitive agreement to sell $75 million of convertible preferred stock to Warburg Pincus, a leading global private equity firm. NYFIX intends to use the net proceeds from the investment, after deducting a 6% placement agent fee and other transaction- related expenses, for general corporate purposes and business development activities.
Under terms of the agreement, NYFIX will sell 1.5 million shares of preferred stock; each share of preferred stock is convertible into 10 shares of common stock; the preferred stock is convertible at a rate of $5.00 per common share, which represents a discount of approximately 6.5% to the closing price of NYFIX common stock on September 1, 2006 and a premium of 9.3% to the last 45 trading day average. As part of the agreement, NYFIX is also issuing Warburg Pincus warrants to purchase 2.25 million shares of NYFIX common stock at an exercise price of $7.75. The shares will be issued in a private placement transaction under Regulation D of the Securities Act of 1933.
Lon Gorman was elected Chairman of the Board after Peter Hansen resigned as Chairman. Effective immediately, long-time financial technology executive P. Howard Edelstein becomes NYFIX's Chief Executive Officer and a member of the NYFIX Board. Current NYFIX Chief Executive Officer Robert Gasser has stepped down from that position and will remain as a Board member and an advisor to the new CEO during a period of transition in leadership, and will thereafter pursue other opportunities.
"The growth opportunities presented by this partnership make this a momentous time in NYFIX's history and I am excited to be assuming my new role at such a significant juncture," commented Lon Gorman, newly elected Chairman of the NYFIX, Inc. Board of Directors and former Charles Schwab Vice Chairman. "I would like to thank Bob Gasser for his dedication and focus in successfully making NYFIX, Inc. a desirable, stable platform. He and his team were integral to the execution of this transaction. We wish him great success in all of his future endeavors."
"When I assumed the role of CEO in November, 2005 I had three primary objectives: 1) stabilize client and partner relationships; 2) position the Company for growth by strengthening its management team and organizational structure; and 3) create a transformational event that would move the Company toward a brighter future," said Mr. Gasser. "I am gratified that in partnership with the NYFIX management team and our loyal and focused colleagues we have achieved those objectives. In addition, NYFIX is gaining a proven financial technology innovator in Howard Edelstein, who is an ideal choice to lead NYFIX into this new era."
"With over 450 trading counterparties operating at more than 5,000 customer sites around the globe, NYFIX provides an ideal platform to leverage for future growth," added Mr. Edelstein. "We appreciate the support that NYFIX customers have provided the Company and we believe that our customers should be extremely pleased with today's developments. We plan to aggressively reinvest in the NYFIX business and evaluate strategic opportunities on a global basis."
Mr. Edelstein is a seasoned veteran in the financial services industry and has a keen understanding of financial institutions' business, communications and technology requirements. Before joining Warburg Pincus this past March as an entrepreneur-in-residence he was President and CEO of Radianz, which was ultimately merged into BT. Previously, he served as president and CEO of Thomson Financial ESG which he founded and later merged with the Depository Trust and Clearing Corp.'s TradeSuite business to create OMGEO, the industry utility for straight-through processing. He also has held senior positions at firms such as Dow Jones Telerate and Knight-Ridder.
In conjunction with the closing of the transaction, which is expected within 45 days, Cary Davis, a Warburg Pincus Managing Director, and William H. Janeway, Vice Chairman at Warburg Pincus, will join the NYFIX Board of Directors.
Commenting on the investment, Mr. Davis said: "NYFIX is well-positioned to capitalize on the changes occurring in the financial markets, and will benefit as the trend towards electronic trading continues. Warburg Pincus is pleased to add NYFIX to its growing financial technology portfolio, which already includes companies such as TradeCard, Wall Street Systems and Yodlee."
Closing of the transaction is subject to certain conditions including: (1) lapse of the waiting period or approval under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and under Rule 1017 of the National Association of Securities Dealers; (2) appointment of Mr. Janeway and Mr. Davis as Directors; (3) no developments in the business of the Company or any of its subsidiaries which would be reasonably likely to have a material adverse effect; and (4) continued accuracy of representations and warranties and absence of any effective injunction or court order prohibiting the closing.
About NYFIX, Inc.
NYFIX, Inc. is an established provider to the domestic and international financial markets of trading workstations, trade automation and communication technologies and through its registered broker-dealer subsidiaries, execution services. Our NYFIX Network is one of the industry's largest networks, connecting broker-dealers, institutions and exchanges. We maintain our principal office on Wall Street in New York City, with other offices in Stamford, CT, London's Financial District, Chicago and San Francisco. We operate redundant data centers in the metropolitan New York City area, with additional data center hubs in London, Amsterdam, Hong Kong and Tokyo. For more information, please visit www.nyfix.com.
About Warburg Pincus
Warburg Pincus has been a leading private equity investor since 1971. Throughout its 40-year history in private equity, Warburg Pincus has invested at all stages of a company's life cycle, from founding start-ups and providing growth capital to leading restructurings, recapitalizations and buy-outs. The firm currently has approximately $10 billion under management and invests in a range of sectors including financial services, technology, media, telecommunications, healthcare, LBOs and special situations, energy and real estate. Warburg Pincus has raised 11 private equity investment funds which have invested more than $23 billion in approximately 525 companies in 30 countries. Currently the firm is investing from an $8 billion fund which closed in August 2005. An experienced partner to entrepreneurs seeking to create and build durable companies with sustainable value, Warburg Pincus has offices in North America, Europe and Asia and an active portfolio of more than 100 companies. For more information, please visit www.warburgpincus.com.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to market and develop its products, adjustments to consideration received for the sale of NYFIX Overseas, additional consideration received for the sale of NYFIX Overseas and indemnification obligations associated with the sale of NYFIX Overseas. Although the Company believes that the assumptions underlying the forward- looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. All trademarks, trade names, logos, and service marks referenced herein belong to NYFIX, Inc.
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Source: NYFIX Inc.
Y/W, I try to tell many buy not many listen.
sheesh ou, time to revisit this...
Aspartame.....
Aspartame The Chameleon Drug!
How It Happens:
Methanol, from aspartame, is released in the small intestine when the methyl group of aspartame encounters the enzyme chymotrypsin (Stegink 1984, page 143). Free methanol begins to form in liquid aspartame?containing products at temperatures above 86 degrees F.. also within the human body.
The methanol is then converted to formaldehyde. The formaldehyde converts to formic acid, ant sting poison. Toxic formic acid is used as an activator to strip epoxy and urethane coatings. Imagine what it does to your tissues!
Phenylalanine and aspartic acid, 90% of aspartame, are amino acids normally used in synthesis of protoplasm when supplied by the foods we eat. But when unaccompanied by other amino acids we use [there are 20], they are neurotoxic.
That is why a warning for Phenylketonurics is found on EQUAL and other aspartame products. Phenylketenurics are 2% of the population with extreme sensitivity to this chemical unless it's present in food. It gets you too, causing brain disorders and birth defects! Finally, the phenyalanine breaks down into DKP, a brain tumor agent.
In other words: Aspartame converts to dangerous byproducts that have no natural countermeasures. A dieter's empty stomach accelerates these conversions and amplifies the damage. Components of aspartame go straight to the brain, damage that causes headaches, mental confusion, seizures and faulty balance. Lab rats and other test animals died of brain tumors.
Do you want to bet your brain on its safety?
Monsanto says "Aspartame is the most tested product in history". Are you sure?
On 12/29/96 60 MINUTES reported on 164 studies. ALL of the 74 studies paid for by NutraSweet showed it was healthy as rain. 83 of the 90 studies by independent labs found problems. During the Reagan Administration, FDA commissioner Arthur Hull Hayes approved NutraSweet over the protests of his own Board of Inquiry, then took a lush consultant contract with NutraSweet's public relations firm while he was under investigation for accepting gratuities. Think if it this way: Money paid under the table put the little blue envelopes on the table!
COKE and PEPSI KNEW IT WAS POISON ...BEFORE they started to use it!
The Congressional Record of May 7, 1985 printed 6 pages of objections prepared by the National Soft Drink Association: "Aspartame is uniquely unstable ... as the temperature increases the ratio of degradation becomes more pronounced ... at 104 degrees for 20 weeks less than 10% of the original aspartame remained ... soft drinks displayed at a service station may reach 120 degrees." EVERY KNOWN BREAKDOWN PRODUCT OF ASPARTAME IS A POISON! Formaldehyde cocktail anyone?
Diseases Aspartame Causes and/or Mimics:
Fibromyalgia, Arthritis, Multiple Sclerosis (MS), Parkinson's Disease, Lupus, Multiple Chemical Sensitivities (MCS), Diabetes and Diabetic Complications, Epilepsy, Alzheimer's Disease, Birth Defects, Chronic Fatigue Syndrome, Lymphoma, Lyme Disease, Attention Deficit Disorder (ADD), Panic Disorder, Depression and other Psychological Disorders.
Symptoms:
(the more common in bold type)
Abdominal Pain, Anxiety attacks, Arthritis like pain, Asthmatic Reactions, Bloating, Blood Sugar Control Problems, Brain Cancer (Pre?approval studies in animals), Breathing difficulties, burning eyes or throat, Burning Urination, Chest Pains, chronic cough, Chronic Fatigue, Confusion, Death, Depression, Diarrhea, Dizziness, Excessive Thirst or Hunger, fatigue, feel unreal, flushing of face, Hair Loss (Baldness) or Thinning of Hair, Headaches/Migraines, Hearing Loss, Heart Palpitations, Hives (Urticaria), Hypertension (High Blood Pressure), Impotency and Sexual Problems, inability to concentrate, Infection Susceptibility, Insomnia, Irritability, Itching, Joint Pains, laryngitis, Marked Personality Changes, Memory loss, Menstrual Problems or Changes, Muscle spasms, Nausea or Vomiting, Numbness or Tingling of Extremities, Other Allergic?Like Reactions, Panic Attacks, Phobias, poor memory, Rapid Heart Beat, Rashes, Seizures and Convulsions, Slurring of Speech, Swallowing Pain, Tachycardia, Tremors, Tinnitus, Vertigo, Vision Loss, and Weight gain.
.Aspartame Poisoning...
RECOVERY!
If you use products with aspartame, and have physical, visual, mental problems, ailments the doctors can't seem to cure... then please try the 60?day no aspartame test. When your symptoms disappear please get involved in an international effort to get this deadly neurotoxin off the market. Write a letter to the FDA, with a copy to Betty Martini (for proof of how the FDA doesn't keep proper records). Write your congressmen.
Return products containing aspartame to the point of purchase... for a FULL refund. Make a big stink if they WON’T give you a full refund!
Tell all your friends, family and physicians... and if they stop using aspartame and also “wake up well”... then get them involved, too!
Aspartame is an “approved sweetener” because of a few greedy and dishonest people who placed personal wealth and corporate profits above human life and well being.
Special Warning to Pilots
Over 800 pilots have reported symptoms to Aspartame. Some have reported suffering grand mal seizures in the cockpit and traced them to their use of Aspartame. Some of these pilots have lost their medical certificates and their livelihood. Don’t risk yours! The number for the Worldwide Pilot Hotline is (214)352-4268 to report your story. After MUCH investigation, I believe...
Aspartame= BAD NEWS!
Equal, Spoonful, NutraSweet,
What's it in?
Over 9000 products and growing fast!
Is it SAFE?
NO!
Why NOT?
It breaks down into phenylalanine, asparatic acid, methyl alcohol (wood alcohol), formaldehyde (embalming fluid), formic acid (ant sting poison) and other toxic chemicals.
In BRIEF!
Aspartame is NOT a natural Substance!
Aspartame is NOT a diet product!
Aspartame is NOT safe... for ANYONE!
Aspartame is NOT a food "additive", it is an
UNREGULATED and UNSAFE DRUG!
Aspartame is even worse for DIABETICS AND
CHILDREN!
Aspartame poisoning is Cumulative. (it adds up!)
Excess formaldehyde from its breakdown...gets stored in your FAT!
Aspartame has 92 "official" side effects...
(Including DEATH!)
Aspartame MIMICS many diseases!
Aspartame’s TOXIC effects are...
USUALLY MISDIAGNOSED!
Aspartame's approval by the FDA...
Is a SHAMELESS travesty!
FDA approval for use in everything is criminal!
The only "CURE" is total exclusion from the diet!
(Aspartame lawyers hired the Federal prosecutors who were after them!)
BDGR - Black Dragon Predicts Gross Gas Sales to Exceed $245,000.00 (35 Million mcf) and Oil Production to Reach up to $780,000.00 (13,000 Barrels) in the Month of September Black Dragon's First Million Dollar Month
Tuesday September 5, 5:30 am ET
Gas Sales Could Rise By 50% in October
AUSTIN, Texas--(BUSINESS WIRE)--Sept. 5, 2006--President of Black Dragon (PINK SHEETS: BDGR - News), Rick Michael, wants to make it aware to the company's shareholders and other investors of the magnitude of the recent acquisitions. The 3,000 acres on the Arkana lease and the 1,275 acres on the Spider lease should double the size of Black Dragon's oil and gas reserves. The company has shallow and deep rights on both of these large acre leases. Black Dragon is no longer an oil and gas Recovery Company but a full blown oil and gas supplier.
Mr. Michael went on to say, "Both the Arkana and the Spider leases should bring the company huge revenue for the next several years. The wells on the Arkana lease, which is in the cotton valley zone will bring an average of 50 to 100 barrels ($3000 to $6000) of oil a day per well and 400,000 cubic feet to 1 million cubic feet of gas ($2800 to $7000) per well daily. The Spider lease, which is in the Paluxy zone, will produce 15 to 25 barrels of oil ($900 to $1500) per well a day with 100,000 to 200,000 cubic feet of gas ($700 to $1400) per well daily". Include this with a record breaking month of August with 10,000 barrels of oil or equivalent shipped from are already production and all this with out the Gemini acquisition it is time to make all investors notice.
In the month of December, Black Dragon gas sales should reach 70 million cubic feet ($490,000) a month with oil production close to 22,000 barrels of oil ($1.320,000) a month. This gives the company an excess of a 1,000 barrels of oil and oil equivalent a day. The additional use of a full time drilling rig in the month of December could prove these totals to be underestimated.
The audit of Black Dragon will be ready by September 15th and the company plans to seek a listing on the American Exchange. Mr. Michael recommends reading the Red Chip report (http://www.redchip.com/visibility/about.asp?page=requestBDGR) where they state that Black Dragon has 4 barrels of oil or oil equivalent for every share. This report was made prior to and does not count the acquisitions of the Arkana and Spider leases.
Contact:
Black Dragon Resource Companies, Inc., Austin
Rick Michael, 512-442-4151
www.black-dragonoil.com
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Source: Black Dragon Resource Companies, Inc.
HSPR - Hesperia Holding, Inc.'s CEO Issues Letter to Stockholders
Tuesday September 5, 6:00 am ET
HESPERIA, Calif., Sept. 5 /PRNewswire-FirstCall/ -- Hesperia Holding, Inc. (OTC: HSPR - News), CEO, William Nalls, addresses stockholders with an open letter regarding the current status of the company.
Dear Valued Stockholder,
As the CEO of Hesperia Holding, Inc. ("Hesperia" or the "Company"), I believe it important to address current developments at the Company, especially as it relates to our filing of financials, our management and operations, and the overall market for our products and services. While the Company's stock has endured downward pressure related to our delay in filings, the management team and employees have continued their diligent work to keep the Company's operations strong and poised for future growth.
Company Filings
On October 8, 2004 the Company completed a financing transaction with Laurus Master Fund, Ltd. At that time, the Company's management understood the transaction as a debt financing and it was accounted for accordingly. After further review, and discussion with auditors, it was determined that this transaction was more appropriately accounted for as a derivative and the Company's financials must be restated. The complexity of this derivative calculation has caused the Company to delay its filings leading to a relegation of the Company's stock to the Pink Sheets. While this delay is a significant inconvenience, it has no material effect on the operations of the company and the Company continues to maintain a strong position in the market. The Company anticipates completing the filing requirements in the coming weeks and believes that the aforementioned derivative issue has been resolved.
Management
Many of you are aware, that the company has gone through some changes in management over the last year. The founders of the Company and I believe that this has been very positive for the Company and the culture we are seeking to create. The current management team has the requisite expertise to execute the Company's business model free from the distraction of competing views on strategy and execution. I believe these changes provide a positive environment for the Company to grow.
The Market
Over the past few months, there has been plenty of news of a housing market slow-down in some parts of the country, and in some markets this is definitive. Contrary to construction market trends in other areas of the country the Company is experiencing continued demand both with new and existing customers. The "High Desert" area of Southern California continues to have strength in new home starts as it remains an affordable and convenient alternative to the more expensive residential properties in Southern California's coastal areas.
In California only 15 to 19% of the population can afford a new home, and builders are looking to build homes for that 81 to 85% of buyers who are still looking for that first home, (1200 - 1500 square feet). These same builders need to keep costs low, and Hesperia has proven itself in the market as a cost-effective leader in the design, manufacture, and transport of component building materials.
Operations
In a continued effort to expand our operations, the Company has begun to meet market demands for more cost-efficient building products through additional offerings such as wall panels and standardized wall components. This successful product expansion and continued operations is a direct result from the hard work and dedication of all our employees, who exhibit great pride in providing outstanding customer service and timely product delivery for our clients in the rapidly growing "High Desert" area.
Lastly, the Company is working with additional funding sources to outfit our new plant with state of the art equipment that will continue to lower our production costs, labor and waste, and support potential strategic opportunities as they arise. I appreciate your continued confidence in Hesperia Holding, Inc. as we seek to increase shareholder value. I will continue to keep you up to date on the Company's progress in the months ahead.
Sincerely,
William Nalls, CEO
About Hesperia Holding, Inc.
Hesperia Holding, Inc. is a holding company, operating through two wholly-owned subsidiaries; Hesperia Truss, Inc. and Pahrump Valley Truss, Inc. (hereinafter, collectively and individually, "HSPR" or the "Company"). The Company engages in the design, manufacture, and transport of roof trusses, floor joists and wall panels for residential and commercial building, primarily in the United States. The Company is based in Hesperia, California and currently has 83 employees. The Company manufactures custom trusses and floor joists and also provides custom engineering services. More recently the Company has expanded product distribution to include third-party truss, wall systems, and joist products.
Forward Looking Statements:
This press release may contain statements that constitute "forward-looking statements" as defined under U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "establish," "project" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from Hesperia's historical experience and its present expectations or projections. These risks include, but are not limited to: our ability to obtain sufficient capital or strategic business arrangements to fund our operations; ability to expand our sales throughout the Western United States; actual demand of housing in the "High Desert" area of Southern California; continued demand from both current and new customers; ensuring timely filings pursuant to the SEC regulations; our ability to become an industry leader; changes in economic conditions; the competitive environment within the construction and truss industry, including actions of competitors and changes in the home and commercial construction business; our ability to capture market share; the effectiveness of our advertising and marketing programs; fluctuations in the cost and availability of raw materials or necessary services; our ability to avoid production output disruptions; our ability to achieve earnings goals; regulatory and legal changes; our ability to penetrate developing and emerging markets; litigation uncertainties; and other risks discussed in our periodic filings with the SEC, which reports are available from the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We undertake no obligation to publicly update or revise any forward-looking statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contact:
Hesperia Holding, Inc.
Fred Smith, VP Investor Relations
(760) 244-8787
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Source: Hesperia Holding, Inc.
MMCN - MMC Energy, Inc. Announces Intent to Upgrade Its Equity Listing on the Deutsche Bourse in Frankfurt, Germany
Tuesday September 5, 6:00 am ET
NEW YORK, Sept. 5 /PRNewswire-FirstCall/ -- MMC Energy, Inc. (OTC Bulletin Board: MMCN - News; Deutsche Bourse: JU1) today announced it is in the process of upgrading its equity listing on the Deutsche Borse to the regulated Entry Standard.
The Company has also posted a video interview with Karl Miller, Chairman and Chief Executive Officer of MMC on its website http://www.mmcenergy.com. Mr. Miller conducted the video interview and MMC business overview at the Deutsche Borse in Frankfurt, Germany.
MMC is pursuing the upgraded Deutsche Borse equity listing due to the strong MMC shareholding base in Europe and continued interest in the MMC business model and strategy by the international investment community.
About MMC Energy, Inc.:
MMC is an energy acquisition company, which primarily acquires and operates critical power generation and associated energy infrastructure assets. The company is headquartered in New York City and traded on the NASDAQ OTC Exchange in the United States and the Deutsche Borse in Germany.
The Company creates long-term value for its shareholders through deep discount asset acquisitions and hands on post-acquisition asset management. The Company currently owns power generation assets in Southern California and is pursuing an aggressive portfolio acquisition and growth strategy targeting power generation facilities and energy infrastructure assets primarily in California, Texas, Mid-Atlantic, and the Northeastern U.S.
Additional information concerning MMC Energy is available at://www.mmcenergy.com
Forward Looking Statements:
This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, including without limitation those statements regarding the Company's ability to expand existing generating facilities and exploit acquisition opportunities. These statements are expressed in good faith and based upon a reasonable basis when made, but there can be no assurance that these expectations will be achieved or accomplished. Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements including, but no limited to, our inability to generate sufficient operating cash flow to adequately maintain our generating facilities and service our debt, commodity pricing, intense competition for undervalued generating assets, environmental risks and general economic conditions. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release, other than as may be required by applicable law or regulation. Readers are urged to carefully review and consider the various disclosures made by us in the our reports filed with the Securities and Exchange Commission, including those risks set forth in the Company's Current Report on Form 8-K filed on May 15, 2006, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. We undertake no obligation to update these forward- looking statements.
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Source: MMC Energy, Inc.
PDC - Pioneer Drilling Delivers Its 60th Rig; Pioneer Orders 70 Iron Roughnecks and Two Topdrives
Tuesday September 5, 6:00 am ET
SAN ANTONIO, Sept. 5 /PRNewswire-FirstCall/ -- Pioneer Drilling Company (Amex: PDC - News) today reported that the ninth rig of its 16 rig new-build program has commenced work under a two-year contract in its South Texas division. The rig is a 1000-hp trailer-mounted electric rig designed to be quick-to-move and rig-up, contains modern mud-cleaning equipment and has two independently powered, 1000-hp triplex mud pumps. This rig increases Pioneer's total working fleet to 60 rigs.
Pioneer also announced that it has ordered 70 iron roughnecks and power slips to be delivered over a 24-month period beginning in January 2007, at a cost of approximately $18.3 million, plus installation costs of approximately $3 million. Red West, Pioneer's Executive Vice President and Chief Operating Officer, stated, "Iron roughnecks provide a faster, safer and more efficient method to spin up and spin out drill pipe. In addition, they will greatly reduce costly and dangerous accidents associated with the use of spinning chains and rotary tongs." Pioneer expects to take delivery of six iron roughneck units in the fourth quarter of this fiscal year, ending March 31, 2007, 48 units in fiscal 2008 and 16 units in fiscal 2009. Additionally, Pioneer has ordered two topdrives at a cost of approximately $3.3 million, which are scheduled for delivery in January 2007.
Wm. Stacy Locke, Pioneer Drilling's President and Chief Executive Officer, stated, "We are continuing to invest in building a premium land drilling fleet that we expect will command superior dayrates and remain in demand regardless of market swings. By adding these iron roughnecks to our rigs to handle the drill pipe connections on the drilling floor, one of the more dangerous jobs on the rig, we are reducing the potential for injury and enhancing our ability to be a top safety performer in the industry. High quality and safe operations attract premium customers for Pioneer to partner with over the long term. In addition, we will soon be able to provide topdrive services to our customers who are drilling in more challenging environments."
Pioneer Drilling provides land contract drilling services to independent and major oil and gas operators drilling wells in Texas, Louisiana and Oklahoma, and in the Rocky Mountain region. Its fleet consists of 60 land drilling rigs that drill in depth ranges between 6,000 and 18,000 feet.
This press release contains various forward-looking statements and information that are based on management's belief, as well as assumptions made by and information currently available to management. The forward-looking information in this press release includes statements concerning the estimated cost of drilling equipment, the benefits expected to be provided by that equipment, the expected delivery times for that equipment and Pioneer's expectation that its drilling fleet will command superior dayrates and remain in demand regardless of market swings. Although the management of Pioneer Drilling believes that the expectations reflected in such forward-looking statements are reasonable, Pioneer Drilling can give no assurance that those expectations will prove to have been correct. Such statements are subject to various risks, uncertainties and assumptions. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. These risks are discussed in detail in Pioneer's filings with the Securities and Exchange Commission (the "SEC"), including the Company's annual report on Form 10-K for the fiscal year ended March 31, 2006 and subsequent filings with the SEC.
Contacts: Bill Hibbetts, Senior VP & CFO
Pioneer Drilling Company
210-828-7689
Ken Dennard / ksdennard@drg-e.com
Lisa Elliott / lelliott@drg-e.com
DRG&E / 713-529-6600
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Source: Pioneer Drilling Company
VSGN - New Data from Vasogen's ACCLAIM Trial in Heart Failure Presented at World Congress of Cardiology 2006
Tuesday September 5, 6:00 am ET
- 31% Risk Reduction in Combined Group of Class III/IV Patients with No Prior Heart Attack and All Class II Patients -
- New Data Define Prime Target Population for Commercial Development -
MISSISSAUGA, ON, Sept. 5 /PRNewswire-FirstCall/ - Vasogen Inc. (NASDAQ:VSGN - News; TSX:VAS - News), a leader in the research and commercial development of technologies targeting the chronic inflammation underlying cardiovascular and neurological disease, today announced that new data from the 2,400-patient ACCLAIM trial in chronic heart failure showed that in a major combined subgroup of New York Heart Association (NYHA) Class III/IV patients with no prior history of heart attack and all Class II patients, together comprising more than 50% of the study population, Vasogen's Celacade(TM) technology reduced the risk of death and cardiovascular hospitalization by 31% (n=1,305 patients, p=0.0003). Celacade was also shown to be safe and well tolerated. The results were presented today by Guillermo Torre-Amione MD, PhD, at a late breaking clinical trial Hot Line Session of the World Congress of Cardiology 2006 in Barcelona, Spain.
"The ACCLAIM results provide compelling evidence that Celacade significantly reduces the risk of death and cardiovascular hospitalization in an important group of heart failure patients that remain underserved by available therapies," stated Dr. Torre-Amione, Medical Director, Heart Transplant Program, Methodist DeBakey Heart Center at The Methodist Hospital, and Principal Investigator for the U.S. arm of the ACCLAIM trial. "These findings are consistent with the role that chronic inflammation plays in the development and progression of heart failure and are particularly impressive in the large subgroup of NYHA Class III/IV patients who had not experienced a prior heart attack and in all NYHA Class II patients. These results provide a strong basis for targeting Celacade's novel anti-inflammatory mechanism in this large and well-defined patient population."
As previously reported, the difference in time to death or first cardiovascular hospitalization (the primary endpoint) for the intent-to-treat study population was not statistically significant (p=0.22), however, the risk reduction directionally favoured the Celacade group (hazard ratio=0.92).
New findings presented today demonstrated that Celacade significantly reduced the risk of death or first cardiovascular hospitalization by 26% in patients with non-ischemic heart failure, as indicated by no prior history of heart attack at baseline (n=919 patients, 243 events, p=0.02). As previously reported, in patients with NYHA Class II heart failure at baseline, Celacade was also shown to significantly reduce the risk of death or first cardiovascular hospitalization by 39% (n=689 patients, 216 events, p=0.0003). New data also presented today included a combined analysis of NYHA Class III/IV patients with no prior history of heart attack and all NYHA Class II patients, which demonstrated a 31% reduction in the risk of death or first cardiovascular hospitalization in the Celacade group compared to placebo (n=1,305 patients, 391 events, p=0.0003).
In addition, an exploratory analysis based on pre-specified subgroups, which comprised 72% of the patient population and excluded only those patients in NYHA Class III/IV with a prior history of heart attack and an ejection fraction equal to or below the median (EF less than or equal to 23%), showed that Celacade reduced the risk of death or first cardiovascular hospitalization by 21% (n=1,746 patients, 560 events, p=0.005).
"The consistency and strength of the risk reductions seen across a number of large subgroups in ACCLAIM is very compelling, particularly considering that the patients in this trial were receiving the best standard of care of any heart failure trial I have seen published to date," said Dr. James Young, Chairman, The Cleveland Clinic Foundation, Medical Director, Kaufman Center for Heart Failure, and Chairman of the Steering Committee for the ACCLAIM trial. "Of particular interest is the strong finding in the combined subgroup of patients with non-ischemic cardiomyopathy and those with NYHA Class II symptoms regardless of etiology - results that will now drive the commercial development of Celacade. Based on these findings, we now see an opportunity to benefit a large and rapidly growing segment of the heart failure population, where the risk of mortality and morbidity remains unacceptably high."
Consistent with the impact of Celacade on the risk of mortality and morbidity in major subgroups within the ACCLAIM trial was the finding of a significant improvement in quality of life (as measured by the Minnesota Living with Heart Failure Questionnaire) for the intent-to-treat study population (n=2,408 patients, p=0.04). Celacade was also shown to be safe and well tolerated, and there were no significant between-group differences for any serious adverse events.
"The data presented today provide convincing evidence that Celacade offers therapeutic benefit in the treatment of a large and underserved population of chronic heart failure patients," stated David Elsley, President and CEO of Vasogen. "We believe that the significant risk reduction observed in NYHA Class II patients is sufficiently robust to warrant consideration for regulatory approval in the United States and Canada, and we are now making preparations to meet with the FDA and Health Canada to present these data. Furthermore, we believe that the impact of Celacade on patients with non-ischemic heart failure and those in NYHA Class II offers significant commercial potential in Europe under our existing CE Mark - a strategy we are actively discussing with prospective marketing partners. Finally, based on the ACCLAIM results and recommendations from the Steering Committee, we have commenced planning a follow-on study to support wider adoption in the heart failure population."
Conference Call
As previously announced, a conference call and a web cast with a slide presentation will be conducted on Tuesday, September 5, 2006, at 8:30 a.m. Eastern Time. The slide presentation may be viewed at www.vasogen.com, and the conference call may be accessed by calling 416-695-6130 or 1-800-766-6630, ten minutes prior to the call. An audio web cast of the event will also be available at www.vasogen.com. A re-broadcast of the conference call may be accessed by calling 1-800-293-3630, pin code 9899, and will also be available at www.vasogen.com.
About the ACCLAIM Trial
The double blind, placebo-controlled ACCLAIM trial studied 2,408 subjects with chronic heart failure at 175 clinical centers in seven countries. ACCLAIM was designed to assess the ability of Celacade to reduce the risk of death or first cardiovascular hospitalization. Patients included in the study had New York Heart Association (NYHA) Class II, III, or IV heart failure with a left-ventricular ejection fraction (LVEF) of 30% or less and had been hospitalized or received intravenous drug therapy for heart failure within the previous 12 months, or had NYHA Class III/IV heart failure with a LVEF of less than 25%.
Patients in the ACCLAIM trial were receiving optimal standard-of-care therapy for heart failure, which at baseline included diuretics (94%), ACE-inhibitors (94%), beta blockers (87%), automatic implantable cardioverter defibrillators (26%), and use of cardiac resynchronization therapy (10.5%). The placebo (n=1,204 patients) and Celacade (n=1,204 patients) groups were well balanced for all important baseline characteristics, including demographics, left-ventricular ejection fraction (LVEF), NYHA classification, concomitant medical conditions, medications, and device therapies.
About Chronic Heart Failure
Chronic inflammation is now well recognized as an underlying mechanism contributing to the development and progression of heart failure. Chronic heart failure is a debilitating condition in which the heart's ability to pump blood throughout the body is impaired. Patients with heart failure experience a continuing decline in their health, resulting in an increased frequency of hospitalization and in premature death.
About the Chronic Heart Failure Market
In North America and Europe, chronic heart failure affects approximately twelve million people, thirty three percent of whom have non-ischemic etiology. At any one time, approximately 4.4 million of these patients are in the NYHA Class II stage of disease and 2.4 million patients are NYHA Class III.
In the U.S. alone, the cost of medical care, primarily resulting from hospitalization, is estimated to exceed $25 billion annually and the condition is associated with more than 600,000 deaths each year. Currently, there are no approved therapies that target the chronic inflammation underlying chronic heart failure.
About the European Society of Cardiology and The World Heart Federation
The World Congress of Cardiology 2006 brings together, in a joint meeting, the XVth World Congress of Cardiology of the World Heart Federation and the 2006 Congress of the European Society of Cardiology and is the largest medical meeting in Europe, with more than 25,000 attendees expected.
About Vasogen:
Vasogen is focused on the research and commercial development of technologies targeting the chronic inflammation underlying cardiovascular and neurological disease. The recently completed international 2,400-patient ACCLAIM trial assessed the impact of the Celacade technology on reducing the risk of mortality and morbidity in patients with advanced heart failure. Full results for the ACCLAIM study were presented at the World Congress of Cardiology 2006, in Barcelona, Spain, and will be presented at the 10th Annual Scientific Meeting of the Heart Failure Society of America being held in Seattle, Washington on September 13, 2006. Vasogen is also developing a new class of drugs for the treatment of neuro-inflammatory and neuro-vascular disorders. VP025, which is entering phase II clinical development, is the lead product candidate from this new class of drugs.
Certain statements contained in this press release and the upcoming conference call and web cast constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements may include, without limitation, summary statements relating to results of the ACCLAIM trial in patients with chronic heart failure, plans to advance the development of Celacade, statements concerning our partnering activities and health regulatory discussions, strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "expects", "plans", "anticipates", "believes", "estimated", "predicts", "potential", "continue", "intends", "could", or the negative of such terms or other comparable terminology. A number of assumptions were made by us in the preparation of these forward-looking statements, including assumptions about the nature of the market for Celacade in the treatment of chronic heart failure, particularly in Europe, the regulatory approval process leading to commercialization and the availability of capital on acceptable terms to pursue the development of Celacade. You should not place undue reliance on our forward-looking statements which are subject to a multitude of risks and uncertainties that could cause actual results, future circumstances or events to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, the outcome of further analysis of the ACCLAIM trial results, the requirement or election to conduct additional clinical trials, the regulatory approval process, securing and maintaining corporate alliances, the need for additional capital and the effect of capital market conditions and other factors on capital availability, the potential dilutive effects of any financing, including the convertible notes we issued in October 2005, risks associated with the outcome of our research and development programs, the adequacy, timing and results of our clinical trials , competition, , market acceptance of our products, the availability of government and insurance reimbursements for our products, the strength of intellectual property, reliance on subcontractors and key personnel, losses due to fluctuations in the U.S.-Canadian exchange rate, and other risks detailed from time to time in our public disclosure documents or other filings with the Canadian and U.S. securities commissions or other securities regulatory bodies. Additional risks and uncertainties relating to our Company and our business can be found in the "Risk Factors" section of our Annual Information Form and Form 40F for the year ended November 30, 2005, as well as in our later public filings. The forward-looking statements are made as of the date hereof, and we disclaim any intention and have no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Unless otherwise indicated, numerical values indicating the statistical significance ("p-values") of results included in this document are based on analyses that do not account for endpoint multiplicity.
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Source: Vasogen Inc.
TTPA - Trintech Growth Strategy Focused on Transaction Reconciliation Software Business Following the Sale of the Payment Systems Business to VeriFone
Monday September 4, 5:13 am ET
DALLAS and DUBLIN, Ireland, Sept. 4 /PRNewswire-FirstCall/ -- Trintech Group plc (Nasdaq: TTPA - News), today announced that it completed the sale of its payment systems business to VeriFone Holdings, Inc.
Following the completion of the sale, Trintech will focus on being a leading global provider of financial software and technology services specializing in transaction verification, reconciliation management, process automation and compliance.
Trintech Chairman and CEO, Cyril McGuire said, "Following this transaction Trintech is now aggressively focused on expanding and growing its transaction reconciliation software solutions business globally. We are investing significant capital to deliver new innovative world class products and services for our growing customer base."
Paul Byrne, President of Trintech, added "The recent hiring of industry veterans in both financial services and healthcare, combined with investment to date in our FMS business and our acquisition strategy, is designed to position Trintech to drive profitable growth in both our core and new vertical markets."
About Trintech Group
Trintech Group Plc (Nasdaq: TTPA - News), a leading global provider of financial software and technology services specializing in transaction verification, reconciliation management, process automation and compliance for commercial, financial and healthcare markets. For over 20 years, Trintech has been providing comprehensive, industry-leading solutions to financial departments seeking greater insight into critical transaction processes. Trintech delivers a configurable, highly scalable platform that incorporates a company's unique business logic, enabling managers to better see and manage business risk throughout the transaction lifecycle. Trintech's transaction management solutions include: ReconNET for high volume transaction reconciliation; AssureNET GL for general ledger reconciliation and certification; Treasure eNET for cash management; Bank Fee Analysis; and the DataFlow Transaction Network for data collection and delivery. Over 400 leading companies in a large variety of industries, including commercial, financial services, and healthcare, rely on Trintech products and services. Clients include: North Fork Bank, 7-Eleven, Kroger, Regal Entertainment, Accor, UPMC, Farmer's Insurance Group, YUM! Brands Restaurants, Rohm and Haas, Verizon Wireless, and Ameren.
Trintech's principal office is in Dallas, US, with international offices in Ireland, the United Kingdom and the Netherlands. Trintech can be reached at 15851 Dallas Parkway, Suite 855, Addison, TX 75001 (Tel 1-972-701-9802), and at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel 353-1-207-4000). For more information, please visit http://www.trintech.com.
Forward Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of the views and assumptions of the management of Trintech Group plc regarding future events and business performance as of the time the statements are made and they do not undertake any obligation to update these statements. Actual results may differ materially from those expressed or implied. For a description of such risks and uncertainties, see the Report of Foreign Issuer on Form 6-K of Trintech Group plc for the quarter ended April 30, 2006 under the heading "Factors That May Affect Future Results."
Contacts:
Investor Contact Trintech:
Maurice Hickey, Chief Financial Officer
Office: +353-1-2074000
Email: maurice.hickey@trintech.com
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Source: Trintech Group Plc
ACGY - Acergy S.A. Awarded $150 Million Offshore Installation Contract in Angola
Monday September 4, 11:11 am ET
LONDON--(MARKET WIRE)--Sep 4, 2006 -- Acergy S.A. (NASDAQ:ACGY - News) (Oslo:ACY.OL - News) announced today that it had been awarded a contract by Cabinda Gulf Oil Company, a subsidiary of Chevron, for the installation of the export pipeline system on the Tombua Landana development offshore Cabinda, Angola.
The contract, valued at approximately $150 million, is for the installation and tie-in of two export pipelines that will connect the Tombua Landana drilling and production platform and the Benguela-Belize oil and gas pipeline transportation system. Offshore installation is planned for mid 2008.
Bruno Chabas, Chief Operating Officer, said, "Acergy is pleased to follow up the recent success of Benguela-Belize with this important export line from the Tombua Landana fields. We are committed to the success of Cabinda Gulf Oil Company's long-term plans for both Block 14 and Block 0 in Angola."
Acergy S.A. is a seabed-to-surface engineering and construction contractor for the offshore oil and gas industry worldwide. We plan, design and deliver complex, integrated projects in harsh and challenging environments. We operate internationally as one group -- globally aware and locally sensitive, sharing our expertise and experience to create innovative solutions. We are more than solution providers, we are solution partners -- ready to make long-term investments in our people, assets, know-how and relationships in support of our clients.
If you no longer wish to receive our press releases, please contact: kelly.good@acergy-group.com
Contact:
Contacts:
Deborah Keedy
Acergy S.A.
UK +44 1932 773767
US +1 877 603 0267 (toll free)
Email Contact
Julian Thomson
Acergy S.A.
UK +44 1932 773764
US +1 877 603 0267 (toll free)
Email Contact
http://www.acergy-group.com
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Source: Acergy S.A.
IBPI - IntraBiotics Provides Update on Dismissal of Pending Litigation
Monday September 4, 12:30 pm ET
LAFAYETTE, Calif., Sept. 4 /PRNewswire-FirstCall/ -- IntraBiotics Pharmaceuticals, Inc. (OTC Bulletin Board: IBPI.PK - News) today reported on a recent U.S. District Court order in IntraBiotics' pending securities litigation filed in July 2004.
As previously reported, on August 1, 2006, the Court issued an order granting IntraBiotics' and the individual defendants' motion to dismiss plaintiffs' claims under the Securities Exchange Act of 1934, with prejudice. With respect to the claims under the Securities Act of 1933 ("1933 Act Claims"), the Court gave the parties the opportunity to provide supplemental briefs before it would rule on these claims.
As plaintiffs did not file a supplemental brief concerning the 1933 Act Claims, on August 30, 2006, the Court dismissed those claims with prejudice.
As a result of the Court's orders, all of the claims against IntraBiotics and the individual defendants have now been dismissed with prejudice. Plaintiffs have 30 days from entry of judgment in which to file a notice of appeal.
The Company believes the suit to be without merit and intends to defend itself vigorously. Due to the uncertainties surrounding the final outcome of this matter, no amounts have been accrued by the Company. The Company and the individual defendants are insured under the Company's directors' and officers' insurance policies, with $15 million in total coverage, and a $500,000 deductible, which has been met. Nevertheless, the Company may incur expenses in the defense or disposition of the litigation beyond what is covered by insurance.
For further information concerning the shareholder suit, see IntraBiotics' annual report on Form 10-K filed with the Securities and Exchange Commission on February 26, 2006 and the 2006 2nd quarter report on Form 10-Q filed with the Securities and Exchange Commission on July 28, 2006.
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Source: IntraBiotics Pharmaceuticals, Inc.
OTIV - OTI Delivers Garanti Bank of Turkey Contactless Card Solutions
Tuesday September 5, 3:00 am ET
Program is Part of MasterCard(R) PayPass(TM) Launch in Europe
FORT LEE, N.J., Sept. 5 /PRNewswire-FirstCall/ -- On Track Innovations Ltd. (OTI) (Nasdaq: OTIV - News), a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, announced today that it is providing Garanti Bank of Turkey 'Tap & Go(TM)' inlay solutions. As previously announced, Garanti bank is reissuing "Tap & Go(TM)" cards, which use MasterCard PayPass technology, to its Bonus cardholders.
Mehmet Sezgin, General Manager, Garanti Payment Systems, said: "OTI's extensive experience provides a reliable and cost-effective way to bring contactless solutions to our market. The possibility of any form factor necessary such as inlays, key fobs, wristwatches, including reader solutions, will help us differentiate ourselves in Turkey's highly competitive payments market.
Garanti Bank is the third largest private bank in Turkey.
Oded Bashan, Chairman, President and CEO of OTI commented: "We are happy to support Garanti bank in its initiative for contactless payments. With OTI experience and expertise, we allow our customers to introduce a cost-effective, reliable and secure solution in short time to market."
About OTI
Established in 1990, OTI (Nasdaq: OTIV - News) designs, develops and markets secure contactless microprocessor-based smart card technology to address the needs of a wide variety of markets. Applications developed by OTI include product solutions for petroleum payment systems, homeland security solutions, electronic passports and IDs, payments, mass transit ticketing, parking, loyalty programs and secure campuses. OTI has a global network of regional offices to market and support its products. The company was awarded the Frost & Sullivan 2005 and 2006 Company of the Year Award in the field of smart cards. For more information on OTI, visit http://www.otiglobal.com.
Safe Harbor for Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Whenever we use words such as "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions, we are making forward-looking statements. Because such statements deal with future events and are based on OTI's current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of OTI could differ materially from those described in or implied by the statements in this press release. For example, forward-looking statements include statements regarding our goals, beliefs, future growth strategies, objectives, plans or current expectations. Forward-looking statements could be impacted by market acceptance of new and existing products and our ability to execute production on orders, as well as the other risk factors discussed in OTI's Annual Report on Form 20-F for the year ended December 31, 2005, which is on file with the Securities and Exchange Commission. Although OTI believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. OTI disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.
OTI Contact: Media Relations
Galit Mendelson Adam Handelsman
Director of Corporate Communications 5W Public Relations
201 944 5200 ext. 111 212 999 5585
galit@otiglobal.com ahandelsman@5wpr.com
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Source: On Track Innovations Ltd.
IDWK / FLEX - Flextronics To Acquire International DisplayWorks
Tuesday September 5, 3:02 am ET
Flextronics bolsters vertical integration capabilities with addition of small form factor liquid crystal displays
SINGAPORE and ROSEVILLE, Calif., Sept. 5 /PRNewswire-FirstCall/ -- Flextronics International Ltd. ("Flextronics") (Nasdaq: FLEX - News) and International DisplayWorks, Inc. ("IDW") (Nasdaq: IDWK - News) announced the two companies have entered into a definitive agreement for Flextronics to acquire IDW, which specializes in the manufacture and design of high quality small form factor liquid crystal displays ("LCDs"), modules and assemblies for a variety of applications including cell phones, MP3 players, industrial and commercial products, and eventually digital cameras.
Under the terms of the agreement, Flextronics will acquire IDW in a stock- for-stock merger with an aggregate value of approximately $300 million. The exchange ratio used at closing will be calculated using the Flextronics average daily closing share price for the 20 trading days ending on the fifth trading day immediately preceding the closing. The exchange ratio will float inside a 10% collar, and will be calculated using a fixed purchase price of $6.55 per share for each share of IDW common stock. The exchange ratio will be fixed inside a 10% and 15% collar resulting in a floating purchase price if the average Flextronics' stock price increases or decreases between 10% and 15% from $11.73 per share. IDW has the right to terminate the agreement if Flextronics' average share price falls 15% or more below $11.73, subject to a Flextronics top-up right. If Flextronics' average share price increases to 15% or more above $11.73, the exchange ratio will float based on a fixed purchase price of $6.85 per share.
The transaction is subject to customary closing conditions, including IDW stockholder approval and certain regulatory approvals. The acquisition is expected to close in the fourth calendar quarter of 2006. As a result of the acquisition, IDW will become a wholly-owned subsidiary of Flextronics.
Mike McNamara, chief executive officer of Flextronics, said, "IDW is an important and strategic addition to Flextronics' product offerings and capabilities. IDW augments our strategy of providing vertically integrated solutions by adding LCD design and manufacturing capabilities. IDW's proven track record of providing profitable, high-quality and competitive display solutions to a growing customer base fits very well with our overall strategy and provides IDW greater scale enabling them to grow more quickly with both new and larger customers. We are thrilled to add IDW customers and employees to our organization." McNamara concluded by saying, "We expect this transaction to be neutral to our diluted EPS expectations in the first twelve months and expect it to be accretive thereafter."
Tom Lacey, Chairman and CEO of IDW, said, "Flextronics' proven track record, strong balance sheet and reputation as a global leader in electronics manufacturing services make the deal attractive for our customers, shareholders and employees. Specifically, the transaction will provide IDW customers with an enhanced portfolio of capabilities, greater scale, expanded supply chain leverage and the advantages of an increased global footprint." Lacey added, "Our board and management team fully support the transaction and the opportunity it provides."
Following completion of the acquisition, Flextronics intends to:
- Combine IDW's LCD operations with Flextronics' Camera Module Group, TV
tuner and Wifi and TFT module assembly operations to create a new
business unit within Flextronics' Components Division.
- Employ approximately 8,000 employees across six business unit
factories.
- Identify and implement synergies for the new business unit,
capitalizing on the strengths of both organizations.
- Transition Flextronics's LCD sourcing to IDW wherever possible.
- Build upon IDW's existing business and customer relationships.
Deutsche Bank Securities Inc. is acting as exclusive financial advisor to IDW on this transaction.
About Flextronics
Headquartered in Singapore (Singapore Reg. No. 199002645H), Flextronics is a leading Electronics Manufacturing Services (EMS) provider focused on delivering complete design, engineering and manufacturing services to aerospace, automotive, computing, consumer digital, industrial, infrastructure, medical and mobile OEMs. With fiscal year 2006 revenues from continuing operations of US$15.3 billion, Flextronics helps customers design, build, ship, and service electronics products through a network of facilities in over 30 countries on five continents. This global presence provides design and engineering solutions that are combined with core electronics manufacturing and logistics services, and vertically integrated with components technologies, to optimize customer operations by lowering costs and reducing time to market. For more information, please visit http://www.flextronics.com.
About International DisplayWorks
International DisplayWorks, Inc. is a manufacturer and designer of high quality liquid crystal displays, modules and assemblies for a variety of customer needs including OEM applications. IDW operates 466,000 square feet of manufacturing facilities in the People's Republic of China (PRC). Sales offices are located in US, Europe, Hong Kong, Singapore, and China. For more information, please visit: http://www.idwk.com.
Teleconference Information
IDW management will make a prepared statement about the transaction in a conference call on September 5th at 9:00 AM eastern time. Questions will not be permitted on the call. Interested parties should call 888-243-6208 if calling within the United States or 973-582-2869 if calling internationally. There will be a playback available until October 4, 2006. To listen to the playback, please call 877-519-4471 if calling within the United States or 973-341-3080 if calling internationally. Please use pass code 7416604 for the replay. This call is being web cast by ViaVid Broadcasting and can be accessed at: ViaVid's website at http://www.viavid.net. IDW intends to post on its web site the prepared management statement from the conference call shortly after the conclusion of the call.
Safe harbor Statement
This press release contains forward-looking statements within the meaning of federal securities laws relating to both Flextronics and IDW. These forward-looking statements include statements related to the expected closing of the acquisition of IDW by Flextronics, the expected synergies and benefits to IDW and its customers from the acquisition, the ability of the acquisition to enable IDW to capture new and larger customers, the impact of the acquisition on Flextronics's EPS, the ability of Flextronics to successfully integrate IDW into a new business unit, and the ability of Flextronics to transition its sourcing of LCDs to IDW. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements. These risks include that the acquisition may not be completed as planned or at all, that IDW may not be successfully integrated into Flextronics's operations, the possibility that the revenues, cost savings, growth prospects and any other synergies expected from the proposed transaction may not be fully realized or may take longer to realize than expected, that growth in the EMS business may not occur as expected or at all, that production difficulties may be encountered with IDW's products, the dependence of Flextronics on industries that continually produce technologically advanced products with short life cycles, Flextronics's ability to respond to changes fluctuations in demand for customers' products and the short-term nature of customers' commitments, and the other risks affecting the combined company described in the section entitled "Risk Factors" in the proxy statement/prospectus to be provided to IDW's shareholders as well as those described under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the reports on Form 10-K, 10-Q and 8-K filed by Flextronics and by IDW with the U.S. Securities and Exchange Commission. The forward-looking statements in this press release are based on current expectations and neither Flextronics nor IDW assumes any obligation to update these forward-looking statements.
Additional Information and Where to find it:
In connection with the proposed merger, Flextronics intends to file with the Securities and Exchange Commission a registration statement on Form S-4 that will contain a Proxy Statement/Prospectus. Investors and security holders are urged to read the Registration Statement and the Proxy Statement/Prospectus carefully when they become available because they will contain important information about Flextronics, IDW and the acquisition. The Proxy Statement/Prospectus and other relevant materials (when they become available), and any other documents filed with the SEC, may be obtained free of charge at the SEC's web site www.sec.gov. In addition, investors and security holders may obtain a free copy of other documents filed by Flextronics or IDW by directing a written request, as appropriate, to International DisplayWorks, Inc., 1613 Santa Clara Drive, Suite 100, Roseville, CA 95661, Attention: Corporate Secretary, or to Flextronics's U.S. offices at 2090 Fortune Drive, San Jose, CA 95131, Attention: Investor Relations. Investors and security holders are urged to read the Proxy Statement/Prospectus and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed acquisition.
This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Participants in the Solicitation:
IDW and its directors and executive officers, and Flextronics and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of IDW in connection with the proposed acquisition. Information regarding the special interests of these directors and executive officers in the proposed transaction will be included in the Proxy Statement/Prospectus referred to above. Additional information regarding the directors and executive officers of Flextronics is also included in Flextronics' proxy statement (form DEF 14A) for the 2006 annual general meeting of Flextronics shareholders, which was filed with the SEC on July 31, 2006. This document is available free of charge at the SEC's website (www.sec.gov) and by contacting Flextronics Investor Relations at investor_relations@flextronics.com.
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Source: Flextronics International Ltd.
EXRCF - Exeter Resource Corporation: Ojo Zone Drilling Extends Gold Mineralization at La Cabeza
Tuesday September 5, 4:00 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Sep 5, 2006 -- Exeter Resource Corporation (TSX VENTURE:XRC.V - News)(Other OTC:EXRCF.PK - News)(FWB: EXB) reports that resource expansion drilling on the Ojo Zone of its La Cabeza project has intersected significant gold mineralization.
The Ojo Zone is one of the four principal zones of mineralization on the project. Significant diamond drill results, tabulated below, include intercepts of:
- 12.7 metres at a grade of 3.1 grams per tonne ("g/t") gold including 2 metres at a grade of 11.9 g/t gold in hole LCD-105;
- 46 metres at a grade of 1.6 g/t gold including 11 metres at a grade of 3.1 g/t gold in LCD-124,
- 8.2 metres at a grade of 2.3 g/t gold in LCD-125, and
- 27 metres at a grade of 1.8 g/t gold including 6 metres at a grade of 3.1 g/t gold in LCP-215.
New Targets
Separately, Exeter reports that two new target areas have been delineated near Ojo, beneath 3 to 12 metres of sand cover. Bedrock drilling located immediately west northwest of Ojo returned anomalous gold values of 0.6 g/t, 0.5 g/t and four separate values of 0.4 g/t, all in samples taken from the top three metres of bedrock.
The second new target is located mid-way between the Central Vein Zone and the Luna Zone. One bedrock drill hole assayed 0.5 g/t gold over three metres. These targets will now be defined by conventional reverse circulation ("RC") drilling.
Company Comment
Exeter's Chairman, Yale Simpson, commented: "The results from drill holes, LCD-124, LCD-125, LCP-214 and LCP-215 confirm the grade and distribution of mineralization in the Ojo Zone, both in sedimentary and volcanic rocks. However, the mineralization intersected by LCD-105 represents an extension of the high grade hydrothermal breccias tested in 2005. Additional drilling will test the breccia zone at depth, where it remains open for further extension."
Detailed Drilling Results
Significant assay results from five additional drill holes testing the Ojo prospect are as follows:
--------------------------------------------------
Hole From (m) To (m) Width (m) Au grade (g/t)
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LCD-105 10 22.7 12.7 3.1
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including 13 15 2 11.9
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LCD-124 4 50 46 1.6 (i)
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including 16 17 1 6.2
--------------------------------------------------
and 21 32 11 3.1
--------------------------------------------------
LCD-125 4 12.2 8.2 2.3 (ii)
--------------------------------------------------
including 9.6 10.2 0.6 10.3
--------------------------------------------------
LCP-214 5 26 21 0.6
--------------------------------------------------
including 17 20 3 1.1
--------------------------------------------------
53 59 6 1.4
--------------------------------------------------
68 71 3 0.7 (iii)
--------------------------------------------------
LCP-215 9 36 27 1.8
--------------------------------------------------
including 18 24 6 3.1
--------------------------------------------------
78 81 3 0.9
--------------------------------------------------
(i) Regular whole rock core samples of HQ-size diamond drill core,
in representative rock types (in both mineralized and un-mineralized
rocks) have been collected for simple compression tests. The
intervals 8.0 - 9.0 metres and 32 - 33 metres, within this 46 metre
intersection, represent such samples and for reporting purposes here
both have been assumed to have a gold value of zero.
(ii) Diamond drill hole LCD-125 actually intersected mineralization
greater than 1.0 g/t gold (and up to 7.2 g/t gold) from surface down
to the first assay reported at 4 metres. Given that the rock drilled
was weathered and broken, the core recoveries in this interval was
significantly less than the 85 percent required for reporting
purposes. Fortunately, in this case, sample data from nearby
channel sampling can be used in the next resource estimation.
(iii) RC drill hole LCP-214 terminated in mineralization with the
last three metres assaying 0.7 g/t gold. This drill hole will be
extended.
Diamond core hole LCD-105 was located 25 metres northwest of LCP-139 (which intersected 9 metres at a grade of 4.3 g/t gold) and confirmed the continuation of hydrothermal breccia mineralization at depth. Approximately 75 metres northwest of this hole, fourteen rotary air blast ("RAB") holes returned anomalous gold values of between 0.15 g/t and 0.57 g/t, associated with brecciated felsic porphyry. RC drilling will test this target area.
Diamond core holes LCD-124 and LCD-125 were drilled 50 metres apart, on the same section, to test the vertical and lateral extent of mineralization indicated by surface channel sampling. Most of the gold mineralization intersected in the two holes is related to fractured and brecciated felsic porphyry, with dark grey chalcedonic silica in the breccia matrix.
RC drill holes LCP-214 and 215 were in-fill holes on the same section line, between two previous sections that were spaced 50 metres apart. Gold mineralization within LCP-214 is within quartz sandstone from a depth of 5 metres. Gold mineralization in LCP-215, located approximately 40 metres northwest of LCP-214, is hosted within felsic volcanics and sedimentary rocks.
2006 Drilling Progress
Two multi-purpose reverse circulation-diamond drills and two conventional diamond drills are currently operating at La Cabeza. At the end of June, the drilling program that was commenced in January was 45 percent complete, with 6500 metres remaining. The program for the remainder of 2006 was increased to extend and add definition to new mineralization identified in the 2006 program.
The drilling program now includes "fences" of RC drill holes in areas of sand cover to test prospective structural corridors. The revised drilling program including the "fence" drilling will total 12,000 metres. This expanded program is expected to be completed by year end and will be followed, as quickly as possible thereafter by a new, independent resource estimation.
Vein and drill hole locations can be viewed on the Exeter website at www.exeterresource.com or by clicking on these hyperlinks:
http://www.exeterresource.com/images/gallery/plans/plans17.pdf and http://www.exeterresource.com/images/gallery/plans/plans18.pdf
Quality Control and Assurance
The gold assay results presented above are preliminary and have been calculated using a 0.5 g/t gold cut-off grade, with no cutting of high grades. All reverse circulation drill samples are collected using a cyclone in one metre intervals; the majority are then composited into three metre samples. The HQ diamond drill core samples are split at one metre intervals or on geological contacts. Samples were collected in accordance with industry standards. Samples were prepared at the ALS Chemex preparation facility in Mendoza, Argentina and assayed by fire assay (50 gram charge) at the ALS Chemex laboratory facility in La Serena, Chile, both ISO-9001:200 certified laboratories.
Check assaying of all samples assaying greater than 1.0 g/t gold will be completed by ALS Chemex in Chile. The Company applies industry standard techniques for systematic inclusions of standard, blank and duplicate samples throughout the sample sequence as checks. Note that the drill widths presented above are drill intersection widths and may not represent true widths.
Matthew Williams, Exeter's Exploration Manager and a "qualified person" within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has supervised the preparation of the technical information contained in this news release.
About Exeter
Exeter is a technically-advanced, Canadian gold exploration company, focused on the discovery and development of epithermal gold-silver properties in Argentina and Chile.
Currently, four drills are operating at its advanced La Cabeza gold project, as a key component of project development activities that include engineering, metallurgical, hydrological, and environmental studies.
In the prospective, Patagonia region of Argentina, Exeter has a strategic agreement with Cerro Vanguardia S.A., AngloGold Ashanti subsidiary over 12 epithermal gold and silver properties in Santa Cruz, Rio Negro and Chubut provinces. Drilling by Exeter at the Cerro Moro, Cerro Puntudo and Verde Silver projects was recently announced to have intersected significant gold and silver mineralization. Follow up exploration has commenced to target further drilling final quarter this year.
In Chile, Exeter is prospecting some 48 gold-silver and copper targets under a strategic agreement with Rio Tinto Mining and Exploration Limited.
In the Maricunga district of Chile, Exeter has a strategic agreement with Minera Anglo American Chile Limitada and Empresa Minera Mantos Blancos S.A. on the Caspiche epithermal gold property.
You are invited to visit the Exeter web site at www.exeterresource.com.
EXETER RESOURCE CORPORATION
Bryce Roxburgh, President and CEO
Safe Harbour Statement - This news release may contain certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 referring to Exeter's exploration plans and expectations for advancing its exploration properties. These statements reflect our current belief and are based upon currently available information. Actual results could differ materially from those described in this news release as a result of numerous factors, some of which are outside of the control of Exeter.
To view the attached maps, please click on the following link: http://www.ccnmatthews.com/docs/exeter905.pdf.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Contact:
Contacts:
Exeter Resource Corporation
Bryce Roxburgh
President
(604) 688-9592 or Toll Free: 1-888-688-9592
Exeter Resource Corporation
Rob Grey
Investor Relations
(604) 688-9592 or Toll Free: 1-888-688-9592
(604) 688-9532 (FAX)
exeter@exeterresource.com
http://www.exeterresource.com
--------------------------------------------------------------------------------
Source: Exeter Resource Corporation
except you, no membermark for you, fact I am starting a drive for all to remove your mm and put you on iggy.
He is here in his dreams
Yes agree Susie "hopefully".
LOL too funny, nicky baby Dream is my friend, though I don't like him. I have posted here before and even as ugly as you are I still would follow you as I am enamoured with you.
And of course there are always a few that do not have a clue what's
going on as to the "deleted message" that have to stick thier nose in
where it does not belong.
Forget my rager hat, I am going on ebay and see if
I can find an old nemo hat. yeah thats the ticket,
I will become a nemoid.
read the ibox, you are suppose to tell the truth.
I did not make the following up,
nickulliana is paid to cause havoc on the SLJB board
she is a MM mole.
fringe,
case ya missed it...
http://www.investorshub.com/boards/read_msg.asp?message_id=13090912
rove and cringe would make
beautiful offspring
ALL truth, you should be banned
My favorite pic when I think of rover..