latest news releases from the newsroom
GulfMark Offshore, Inc.
GulfMark Offshore, Inc. Announces Closing of New Loan Facility and Effectiveness of SEC Form S-3
HOUSTON, June 8, 2006 (PRIMEZONE) -- GulfMark Offshore, Inc. (Nasdaq:GMRK) announced today that it had closed on a new $175 million loan facility agreement with a group of banks led by DnB NOR Bank ASA. The new secured reducing revolving loan agreement ("New Loan Facility") is comprised of three separate facilities among the parent company and two of its North Sea operating subsidiaries. The New Loan Facility replaces all of the outstanding bank debt previously financed through two separate secured revolving loan agreements in addition to two separate vessel mortgages. Approximately $81.0 million was refinanced under the new facility compared to the $90.6 million outstanding under the four separate facilities at March 31, 2006, the balance having been repaid from cash on hand. The new facility will mature in 2013 with mandatory reductions beginning in late 2011.
Strategic Distribution, Inc.
SDI Announces Extension of Stock Repurchase Program
BRISTOL, Pa., June 8, 2006 (PRIMEZONE) -- SDI (Strategic Distribution, Inc.) (Nasdaq:STRD), a leading provider of maintenance, repair and operating (MRO) supply chain management services in North America, today announced that the Company's Board of Directors has authorized the extension of its 2001 stock repurchase program under which the Company is authorized to repurchase up to 1,000,000 shares of Strategic Distribution Common Stock. The extension is effective immediately and is expected to continue for a period of one year unless further extended by the Company's Board.
ACT Teleconferencing, Inc.
ACT Teleconferencing Exhibits at CommunicAsia 2006
DENVER, June 8, 2006 (PRIMEZONE) -- ACT Teleconferencing, Inc. (Pink Sheets:ACTT), a worldwide provider of audio, video and web-based conferencing products, today announced that it is exhibiting at the CommunicAsia 2006 17th Annual International Communications and Information Technology Summit in Singapore from 20-23 June 2006. The international show is widely attended, attracting over 47,000 industry professionals representing an estimated 100 countries. The Company's exhibit will be located in Hall 3, Booth No. 3M1-10 at the Singapore Expo.
Blum & Silver
Notice to All Current and Former Janney Montgomery Scott, LLC Customers Who Purchased Cree, Inc. or Other Aggressive Stocks and/or Mutual Funds
CORAL SPRINGS, Fla., June 8, 2006 (PRIMEZONE) -- The Securities Law Firm, Blum & Silver, LLP, (www.stockattorneys.com) announced today that it has won a significant arbitration award before the National Association of Securities Dealers, Inc. ("NASD") on Case No. 2004-01758. A securities arbitration panel awarded approximately $3.3 million to former customers of Janney Montgomery for improperly investing their money in mutual funds and stocks including Cree, Inc. This Floridian family had filed a complaint against Janney Montgomery in 2004 after losing money in investments such as Cree, Inc. The arbitration panel found Janney liable for failure to supervise, the inappropriate concentration of investments, breach of contract and breach of fiduciary duty.
Pay88 Executes Letter of Intent to Acquire China-based QianBao Technology
BARNSTEAD, N.H., June 8, 2006 (PRIMEZONE) -- Pay88, Inc. (OTCBB:PAYI) today announced it signed a Letter of Intent with QianBao Technology, a Chinese company. If the contemplated transaction closes, Pay88, Inc. shall acquire certain assets from QianBao Technology, including without limitation, various intellectual property, approximately $300,000 in cash, certain real estate holdings, its online payment platform system, software, domain name and its customer base.
Occidental Petroleum Corp.
OxyVinyls to Further Reduce Already Low Emissions Levels
LOS ANGELES, June 8, 2006 (PRIMEZONE) -- OxyVinyls, LP has voluntarily entered into an enforceable consent agreement with the U.S. Environmental Protection Agency, the State of New Jersey and the Louisville (Kentucky) Metropolitan Air Pollution Control District to reduce by almost 50 percent the combined vinyl chloride emissions from four OxyVinyls manufacturing facilities. The agreement, in the form of a consent decree, also resolves several contested compliance allegations.
Fire Mountain Beverage Co.
Fire Mountain Beverage Company Is the Major Supply of Bottled Water for Los Angeles-Watts Summer Games
VALENCIA, Calif., June 8, 2006 (PRIMEZONE) -- Fire Mountain Beverage Company (Pink Sheets:FBVG) announces that it will provide corporate sponsorship for the 38th Annual Los Angeles-Watts Summer Games (http://www.lajcc.org/lawsg/) the largest high school athletic competition in the nation, by donating over 15,000 bottles of its purified and vitamin-flavored water to athletes participating at the games (June 10, 11, 17 & 18). The Company's Five 02 brand of oxygenated-vitamin-flavored waters were created to enhance athletic performance, administer an excellent source of hydration, and promote healthy living. The Five 02 product line is an exceptional fit for this event.