latest news releases from the newsroom
Guaranty Federal Bancshares, Inc.
Guaranty Federal Bancshares, Inc. Announces New Stock Repurchase Plan
SPRINGFIELD, Mo., Aug. 20, 2007 (PRIME NEWSWIRE) -- Guaranty Federal Bancshares, Inc. (Nasdaq:GFED), the holding company for Guaranty Bank, announced that its Board of Directors has approved a new common stock repurchase program. The program calls for the repurchase of up to 350,000 shares of its common stock, representing approximately 12.5% of outstanding shares. The Board had previously authorized a repurchase program of 250,000 shares on July 25, 2006, which is substantially complete. To date, 246,744 shares have been repurchased.
Zix Corporation Adds 15th State Banking Regulator to ZixDirectory
DALLAS, Aug. 20, 2007 (PRIME NEWSWIRE) -- Zix Corporation (ZixCorp(r)) (Nasdaq:ZIXI), the leader in email encryption and e-prescribing services, today announced that the company has added the Kansas Office of the State Bank Commissioner, its 15th Conference of State Bank Supervisors (CSBS) agency, to its client list, totaling 30 percent of the state regulatory agencies.
WCI Communities, Inc.
WCI Communities Obtains Waiver and Amendment of Credit and Loan Facilities
BONITA SPRINGS, Fla., Aug. 20, 2007 (PRIME NEWSWIRE) -- WCI Communities, Inc. (NYSE:WCI), a leading builder of traditional and tower residences in highly amenitized lifestyle communities, today reported that on August 17, 2007 it reached an agreement with its lenders to amend the Company's Revolving Credit Facility, Term Loan Agreement, and Tower Facility. The amendments are intended to provide for, among other things, greater operational flexibility in the current market environment. The amendments provide for a waiver or consent to any default arising from certain changes in the composition of WCI's board of directors, adjust the pricing of the loans under the facilities, provide for certain commitment reductions, provide collateral for the loans, adjust certain financial coverage ratios and other covenants, and make certain other modifications. The Company's borrowing capacity under the Revolving Credit Facility has been reduced from $850 million to $700 million, with subsequent reductions to $600 million on July 1, 2008, and to $550 million on July 1, 2009. The Term Loan Agreement has been reduced from $300.0 million to $262.5 million, with a subsequent reduction to $225.0 million on July 1, 2008. As of June 30, 2007, the balance on the Revolving Credit Facility was $360.6 million, the balance on the Term Loan Agreement was $300.0 million, and the balance on the Tower Facility was $371.5 million. More details on the amended agreements can be found in the Current Report on Form 8-K that WCI expects to file today with the SEC.
WCI Communities, Inc.
WCI Communities and Icahn Group Agree On New Board Composition for Company
BONITA SPRINGS, Fla. and NEW YORK, Aug. 20, 2007 (PRIME NEWSWIRE) -- WCI Communities, Inc. (NYSE:WCI) and affiliates of Carl Icahn today announced that they have agreed to a new composition for the WCI Board of Directors which will be submitted to shareholders for approval at the Annual Meeting of Shareholders on August 30, 2007. As part of the agreement, the Icahn Group will withdraw its slate of nominees for the Board, effectively ending its proxy contest.
The Topps Co. Inc.
Topps Comments on ISS Recommendation
NEW YORK, Aug. 20 -- The Topps Company, Inc. today issued the following statement in response to the recommendation by Institutional Shareholder Services (ISS) regarding the pending merger agreement with The Tornante Company LLC and Madison Dearborn Partners, LLC ("Tornante -- MDP transaction"):