latest news releases from the newsroom
Transmeridian Exploration, Inc.
Transmeridian Exploration Announces Offering of $35 Million of Senior Redeemable Convertible Preferred Stock and Concurrent $7 Million Private Placement
HOUSTON, Nov. 24, 2006 (PRIMEZONE) -- Transmeridian Exploration Incorporated (AMEX:TMY) announced today that it has commenced a private offering of $35.0 million of its senior redeemable convertible preferred stock (the "Offering"). The preferred stock will be convertible at the option of the holder into common stock at a specified conversion price to be determined on the date of pricing based on a premium to the market price of the Company's common stock. Dividends are payable quarterly in kind or in cash (if allowed by the terms of the Company's then existing debt instruments), at the option of the Company, at a rate to be determined at pricing. The conversion price and dividend rate will be subject to adjustment in the event that the Company does not meet either a specified average production level for the second quarter of 2007 or a specified average trading price for its common stock subsequent to June 30, 2007. In addition, the Company will have the right at its option to redeem the preferred stock for cash at a premium to the liquidation value of the preferred at any time on or after October 1, 2007, subject to certain conditions, and will be required to redeem the shares for cash at the option of the holder at any time five years after issuance. The final terms of the preferred stock are subject to change and will be finalized at pricing.
Sunflower Electric Power Corporation
Sunflower CEO Comments on Salina Journal Article
HAYS, Kan., Nov. 24, 2006 (PRIMEZONE) -- In an article printed by the Salina Journal on November 23, 2006, Steve Miller, Sunflower's Senior Manager, External Affairs, was quoted as saying, "I personally will make it my crusade to make sure all our western Kansas dollars are diverted as far away from Lawrence as they can be, because they have unfairly stuck their nose in western Kansas' business."
Port of Houston Authority
PHA Commission Considers Bayport, Security, Tariff Matters
HOUSTON, Nov. 24, 2006 (PRIMEZONE) -- The Port Commission of The Port of Houston Authority will consider several Bayport construction matters and high-tech security programs on Monday, November 27, beginning at 1 p.m. in the board room of the PHA Executive Building, 111 East Loop North (Exit 29 off Loop 610) in Houston. Chairman Jim Edmonds will preside over the meeting with Commissioner Steve Phelps, Commissioner Jim Fonteno, Commissioner Kase Lawal, Commissioner Jimmy Burke, Commissioner Janiece Longoria and Commissioner Elyse Lanier.
Chelsea Management Group Inc.
Chelsea Financial Services (Mexico) to Open January 2007
DENVER, Nov. 24, 2006 (PRIMEZONE) -- Chelsea Management Group Inc. (Other OTC:CLMP) and its wholly owned subsidiary Chelsea Financial Services (Mexico) has established a fully operational financial services office on the West Coast of Mexico. Chelsea Financial (Mexico) will provide a wide range of financial services such as mortgage lending, bridge financing, construction financing and equity lending to property buyers in the rapidly developing west coast Mexico and surrounding area.