latest news releases from the newsroom
Occidental Petroleum Corp.
Occidental to Hold Earnings Conference Call
LOS ANGELES, Oct. 3, 2006 (PRIMEZONE) -- Occidental Petroleum Corporation (NYSE:OXY) will hold a conference call on Wednesday, October 18, 2006, following the release of its third-quarter 2006 financial results. The conference call, which will begin at 11:30 a.m. EDT, may be accessed by calling 1-888-873-8496. The conference call also can be heard live on the company's website, www.oxy.com.
TGC Ventures International Inc.
TGC Ventures International Moves Head Office to Atlanta
ATLANTA, Oct. 3, 2006 (PRIMEZONE) -- TGC Ventures International (Pink Sheets:TGVI) announced that the Company's head office has been moved to Atlanta, Ga. and is now fully operational. The new head office is located at the Midtown Proscenium Center 1170 Peachtree Street NE Suite 1200 Atlanta, Ga. 30309. TGC Ventures can be reached by phone at (404) 962-4421 or fax (404) 885-5701.
Credit Acceptance Corporation
Credit Acceptance Corporation Announces Final Results of Its Modified Dutch Auction Tender Offer
SOUTHFIELD, Mich., Oct. 3, 2006 (PRIMEZONE) -- Credit Acceptance Corporation (Nasdaq:CACC) (the "Company") announced the final results of its modified Dutch auction tender offer, which expired at 5:00 p.m. Eastern Standard Time, on September 26, 2006. Credit Acceptance commenced the tender offer on August 28, 2006, to purchase up to 3,500,000 shares of its common stock at a price between $28.00 and $31.50 per share, net to the seller in cash, without interest. Based on the final count by Computershare Trust Company of New York, the depositary for the tender offer, 20,552,028 shares of common stock were properly tendered and not withdrawn at prices between $28.00 and $31.50 per share. The final count of shares properly tendered is less than the amount communicated in the Company's preliminary announcement on September 27, 2006 by 24,584 shares due to failed deliveries of guaranteed delivery shares. Because more than the maximum 3,500,000 shares were tendered, the Company purchased only a prorated portion of the shares tendered by each tendering shareholder, other than odd lot shareholders, as described in the Company's Offer to Purchase. The proration factor used by the Company in purchasing tendered shares was 17.0%. Credit Acceptance has purchased 3,500,000 tendered shares of its common stock at a price of $31.50 per share, at a total cost of approximately $110.3 million, which includes 3,313,629 shares owned by Donald Foss, the Company's Chairman of the Board. The Company financed the purchase of its securities in the tender offer by borrowing under its $135.0 million revolving credit facility and $325.0 million revolving warehouse facility.