latest news releases from the newsroom
Elite Pharmaceuticals, Inc.
Elite Announces Approval of All Proposals At Special Meeting of the Stockholders
NORTHVALE, N.J., Dec. 22, 2008 (GLOBE NEWSWIRE) -- On December 19, 2008, Elite Pharmaceuticals, Inc. ("Elite" or the "Company") (NYSE Alternext US:ELI) held a Special Meeting of the Stockholders of the Company (the "Special Meeting"). At the Special Meeting, the stockholders took the following actions: (i) approved and ratified the sale of up to 30,000 shares of the Company's Series D 8% Convertible Preferred Stock, par value $0.01 per share (the "Series D Preferred Stock"), convertible into shares of the Company's common stock, par value $0.01 per share (the "Common Stock"); the exchange of certain shares of the Company's Series B 8% Convertible Preferred Stock, par value $0.01 per share, and Series C 8% Convertible Preferred Stock, par value $0.01 per share, for shares of Series D Preferred Stock; and the issuance of related warrants to purchase additional shares of the Company's Common Stock; and (ii) approved and ratified the adoption of an amendment to the Registrant's Certificate of Incorporation to increase the number of authorized shares of Common Stock from 150,000,000 to 210,000,000. A portion of the Company's Series D Preferred Stock was issued by the Company in connection with its September 15, 2008 securities offering.
FreeSeas Inc. Appoints Interim Chief Financial Officer
PIRAEUS, Greece, Dec. 22, 2008 (GLOBE NEWSWIRE) -- FreeSeas Inc. (Nasdaq:FREE) (Nasdaq:FREEW) (Nasdaq:FREEZ) ("FreeSeas" or "the Company"), a provider of seaborne transportation for drybulk cargoes, announced today that Mr. Dimitris Filippas, previously Assistant to the Chief Financial Officer, has been appointed interim CFO of FreeSeas. Mr. Filippas will assume the duties of Mr. Dimitris Papadopoulos, who has departed from the company. Mr. Papadopoulos will remain an advisor to the Board and management of the Company. The Company has begun a search for a permanent replacement.
The Korea Fund, Inc.
The Korea Fund, Inc. Declares Capital Gain Distribution
NEW YORK, Dec. 22, 2008 (GLOBE NEWSWIRE) -- The Board of Directors of The Korea Fund, Inc. (NYSE:KF) (the "Fund") announced today that it has declared a capital gain distribution of $220.3 million ($90.30 per share after the 1-for-10 reverse stock split, which was effective earlier today). On a post-split, per share basis, the distribution is comprised of long-term capital gains of $85.60 and short-term capital gains of $4.70. The distribution is inclusive of realized capital gains incurred during for the fiscal year ended June 30, 2008.
Avantair, Inc. to Present At the 11th Annual Needham Growth Stock Conference On January 6th
CLEARWATER, Fla., Dec. 22, 2008 (GLOBE NEWSWIRE) -- Avantair, Inc. (OTCBB:AAIR) (OTCBB:AAIRU) (OTCBB:AAIRW), the only publicly traded stand-alone fractional operator and the sole North American provider of fractional shares in the Piaggio Avanti P.180 aircraft, today announced that Chief Executive Officer Steven Santo will present at the 11th Annual Needham Growth Stock Conference on Tuesday, January 6, 2009 at 2:30 p.m. ET at The New York Palace Hotel in New York City.
Aventine Renewable Energy Holdings, Inc.
Aventine Receives Continued Listings Standard Notice From the NYSE
PEKIN, Ill., Dec. 22, 2008 (GLOBE NEWSWIRE) -- Aventine Renewable Energy Holdings, Inc. (NYSE:AVR), a leading producer, marketer and end-to-end provider of clean renewable energy (the "Company"), today announced that on December 17, 2008, the Company received notification from the New York Stock Exchange (the "NYSE") that the Company had fallen below one of the NYSE continued listing standards which, among other things, requires a minimum average closing price of $1.00 per share over 30 consecutive trading days.
Donegal Group Inc. Declares Quarterly Dividend
MARIETTA, Pa., Dec. 22, 2008 (GLOBE NEWSWIRE) -- Donegal Group Inc. (Nasdaq:DGICA) (Nasdaq:DGICB) reported that its Board of Directors on December 18, 2008 declared a regular quarterly cash dividend payable February 16, 2009 of $.105 per share of Class A common stock and $.0925 per share of Class B common stock to stockholders of record as of the close of business on February 2, 2009.
First Advantage Bancorp
First Advantage Bancorp to Initiate Stock Repurchase Program
CLARKSVILLE, Tenn., Dec. 22, 2008 (GLOBE NEWSWIRE) -- First Advantage Bancorp (Nasdaq:FABK) (the "Company"), the holding company for First Federal Savings Bank, announced today that it is commencing a stock repurchase program to acquire up to 263,234 shares, or 5.0%, of the Company's outstanding common stock. Repurchases, which will be conducted through open market purchases or privately negotiated transactions, will be made from time to time depending on market conditions and other factors. There is no guarantee as to the exact number of shares to be repurchased by the Company.