ABB Asbestos Case to be Reviewed
ZURICH, Switzerland, Dec. 3, 2004 (PRIMEZONE) -- The Third Circuit Court of Appeals in the United States has ruled that ABB's Chapter 11 Plan of Reorganization for its U.S. subsidiary, Combustion Engineering (CE) will be reviewed again by the District Court. Under the Plan of Reorganization announced in January 2003, ABB offered a $1.2 billion trust fund for claims against CE. It consisted of the assets of CE valued at $812 million, about 30 million ABB shares, and cash contributions totalling about $350 million. The plan was accepted by an overwhelming majority of claimants, and approved by both the Bankruptcy and District courts.
Maxim Pharmaceuticals to Host Conference Call
STOCKHOLM, Sweden, and SAN DIEGO, Dec. 3, 2004 (PRIMEZONE) -- Maxim Pharmaceuticals (Nasdaq:MAXM) (SSE:MAXM) today announced it will hold a conference call on Tuesday, December 7, 2004 at 10:00 a.m. EST (7:00 a.m. PST or 4:00 p.m. CET). Larry Stambaugh, Chairman and Chief Executive Officer of Maxim, will discuss the results of Maxim's Phase 3 clinical trial for Ceplene(tm) in the treatment of acute myeloid leukemia patients in complete remission as presented on December 6, 2004 at the 46th Annual Meeting of the American Society of Hematology (ASH) in San Diego, CA.
Minera Andes' Exploration Program Yields Silver Mineralization In Santa Cruz Province, Argentina
SPOKANE, Wash., Dec. 2, 2004 (PRIMEZONE) -- Minera Andes' (TSX Venture Exchange:MAI) (OTCBB:MNEAF) reconnaissance program in the Santa Cruz province of Southern Argentina has identified a new area of epithermal precious metal mineralization.
CORRECTING and REPLACING: Coram Emerges From Reorganization
DENVER, Dec. 2, 2004 (PRIMEZONE) -- Arlin M. Adams, the Chapter 11 Trustee for the Bankruptcy Estates of Coram Healthcare Corporation and its wholly owned subsidiary, Coram, Inc., today announced that his Second Amended Joint Plan of Reorganization, as modified, became effective on December 1, 2004. As a result, Coram Healthcare Corporation filed a certificate of dissolution with the State of Delaware on December 1, 2004 and will now proceed toward winding-up its affairs. The reorganized Coram, Inc. has emerged from bankruptcy with Goldman Sachs Credit Partners, L.P., Wells Fargo Foothill, Inc. and Cerberus Partners, L.P., collectively to receive 100% of the equity interests in exchange for (i) cancellation of their previously held Coram, Inc. preferred stock and remaining outstanding unsecured indebtedness, and (ii) a $56.0 million contribution to the Bankruptcy Estates of Coram Healthcare Corporation and Coram, Inc. in the form of cash and the assumption of financial responsibility under a settlement agreement among the companies and the Internal Revenue Service.
Timberline Resources Corporation
Timberline Finalizes Agreement with Hecla Mining Company to Explore Snowstorm Trend
SPOKANE, Wash., Dec. 2, 2004 (PRIMEZONE) -- Timberline Resources Corporation (Pink Sheets:TBLC) announced today that it has finalized an agreement with Hecla Mining Company (NYSE:HL) to earn 49 percent of Hecla's Snowstorm Trend Project in north Idaho's "Silver Valley".
ProtoKinetix Inc. -- Worldwide Patent Applications for Synthetic AFGP are Now Complete
VANCOUVER, British Columbia, Dec. 2, 2004 (PRIMEZONE) -- The following is being issued by ProtoKinetix Inc. (OTCBB:PKTX):
Pennsylvania Chamber of Business and Industry
PA Chamber Welcomes New Board Members
HARRISBURG, Penn. , Dec. 2, 2004 (PRIMEZONE) -- The Pennsylvania Chamber of Business and Industry welcomed five business leaders to it board of directors. The nominations were accepted today at the meeting of the board in Philadelphia.
Pennsylvania Chamber of Business and Industry
Henry C. Fader Elected Chairman of PA Chamber Board
HARRISBURG, Pa., Dec. 2, 2004 (PRIMEZONE) -- At its meeting in Philadelphia today, the Pennsylvania Chamber of Business and Industry Board of Directors elected attorney Henry C. Fader as its new chairman.
CALAMOS Convertible Opportunities and Income Fund (CHI) Announces Regular Dividend
NAPERVILLE, Ill., Dec. 2, 2004 (PRIMEZONE) -- CALAMOS Convertible Opportunities and Income Fund (NYSE:CHI) (Cusip No.: 128117108) announced today the declaration of a dividend distribution of $0.15 per share, payable on December 17, 2004, to shareholders of record on December 13, 2004. Assuming the foregoing, the ex-dividend date should be December 9, 2004. The monthly dividend equates to a current annualized yield of 8.58%(1) based on the $20.98 market price as of November 30, 2004. Past performance is no guarantee of future results.
CALAMOS Convertible and High Income Fund (CHY) Announces Regular Dividend
NAPERVILLE, Ill., Dec. 2, 2004 (PRIMEZONE) -- CALAMOS Convertible and High Income Fund (NYSE:CHY) (Cusip No.:12811P108) announced today the declaration of a dividend distribution of $0.1219 per share, payable on December 17, 2004, to shareholders of record on December 13, 2004. Assuming the foregoing, the ex-dividend date should be December 9, 2004. The monthly dividend equates to a current annualized yield of 8.80%(1) based on the $16.62 market price as of November 30, 2004. Past performance is no guarantee of future results.
