latest news releases from the newsroom
MMC Energy, Inc.
MMC Energy, Inc. Authorizes a Stock Repurchase Plan
NEW YORK, March 26, 2008 (PRIME NEWSWIRE) -- MMC Energy, Inc. (Nasdaq:MMCE) announced today that the Company's board of directors has approved a program for the repurchase of up to $2,500,000 of the Company's common stock in the open market or in private transactions during the 6-month period ending September 30, 2008. Repurchases will be made under the program using the Company's own cash resources. Merriman Curhan Ford & Co. will act as agent for the Company's stock repurchase program.
Peoples Bancorp Completes Reverse/Forward Stock Split
AUBURN, Ind., March 26, 2008 (PRIME NEWSWIRE) -- Peoples Bancorp ("PFDC") (Nasdaq:PFDC), announced today that its previously announced 1-for-760 reverse split of Peoples Bancorp's common stock to be followed immediately by a 760-for-1 forward split has been completed (the "Split Transaction"). Shareholders holding shares of the Company's capital stock representing the required majority of votes approved the Split Transaction at the Company's annual meeting of shareholders held on March 26, 2008. The Company filed Articles of Amendment of its Articles of Incorporation with the Secretary of State of Indiana to effect the Split Transaction on March 26, 2008, and as a result of the effectiveness of the Split Transaction, registered shareholders holding less than one share of common stock immediately after the effectiveness of the reverse stock split on March 26, 2008, have the right to receive cash at a price of $16.75 per whole pre-split share of common stock held by them immediately prior to the effectiveness of the reverse split. Shareholders holding more than one share of common stock after the reverse split participated in the forward split and therefore continued to hold the same number of shares immediately after the Split Transaction as they did immediately before the Split Transaction.
Franklin Bank Corp. Receives Non-Compliance Notification From AMEX
HOUSTON, March 26, 2008 (PRIME NEWSWIRE) -- Franklin Bank Corp. (Nasdaq:FBTX) (AMEX:FBK-P.LF) ("Franklin") announced today that it has received a letter from the staff of The American Stock Exchange ("AMEX") indicating that Franklin is not in compliance with AMEX Rules 134 and 1101 of the continued listing standards due to the previously announced delayed filing of its annual report on Form 10-K for the year ended December 31, 2007. The Company's Series A Non-Cumulative Perpetual Preferred Stock (the "Preferred Stock") trades on AMEX.