latest news releases from the newsroom
SouthCrest Financial Group, Inc.
SouthCrest Financial Group, Inc. Declares Quarterly Dividend
FAYETTEVILLE, Ga., Jan. 3, 2006 (PRIMEZONE) -- The Board of Directors of SouthCrest Financial Group, Inc. (OTCBB:SCSG) announced today that it has declared a dividend of 12-1/2 cents per share. This dividend represents an increase from the 12 cents per share dividend paid for the same quarter a year ago. The dividend will be payable on January 31, 2006 to shareholders of record as of January 17, 2006.
Henry P. Jolly Named President and Chief Executive Officer at Sysco Food Services of Kansas City, Inc.
HOUSTON, Jan. 3, 2006 (PRIMEZONE) -- SYSCO Corporation (NYSE:SYY) announced today that Henry P. Jolly has been named president and chief executive officer of Sysco Food Services of Kansas City, Inc., a broadline foodservice subsidiary located in Olathe, Kansas. Mr. Jolly, who currently serves as president and chief executive officer of SYSCO's Little Rock, Arkansas operation, will assume his new responsibilities effective immediately. He succeeds current president and chief executive officer James D. Hope, who was recently named group president, customer, as part of a strategic development process announced by SYSCO Corporation on November 21, 2005.
Know Your Organization -- New Book Presents Deep Insights on Organizations in the Modern World
AVONDALE, Pa., Jan. 3, 2006 (PRIMEZONE) -- Greek philosopher Thales once said, "Know thyself." As organizations become larger, more complex, dynamic and vital to our existence, we should consider adding: Know your organization. Readers can now gain critical insight into this difficult task by joining author Roy L. Schuyler as he systematically explores why and how organizations are likely to evolve in his book Know Your Organization: How to Understand, Operate and Improve Your Organization in the New Business Environment.
Sun New Media Inc.
Sun New Media Completes Financing
DIAMOND BAR, Calif., Jan. 3, 2006 (PRIMEZONE) -- Sun New Media Inc. (OTCBB:SNMD) ("SNMI") today announced that it has completed a financing with Barron Partners LLP of New York. In connection with the financing, the Company raised gross proceeds of approximately $1,020,000. The Company issued 50,000 shares of Common Stock and a $918,000 note convertible into common stock. The Company also issued warrants for the purchase of an aggregate of 11 million shares of Common Stock at exercise prices ranging from $2.04 to $4.80 per share with a weighted average price of approximately $3.71 per share, which, if exercised in full, will yield proceeds up to US$40.81 million. Subject to certain conditions, the Company has the right to call for the conversion of the notes and the exercise of the warrants if the Company's average stock price over a thirty-day period is above specified prices. The Company intends to use the proceeds for general corporate purposes.