latest news releases from the newsroom
First Horizon National Corporation
Marty Mosby, Chief Financial Officer, to Assume New Role at First Horizon
MEMPHIS, Tenn., Sept. 29, 2006 (PRIMEZONE) -- First Horizon National Corp. (NYSE:FHN) today announced that Marty Mosby will transition from the role of chief financial officer of First Horizon to assume a new position at one of First Horizon's three major business segments, FTN Financial. At FTN Financial, Mosby will focus on developing additional strategies to expand FTN Financial's revenue base. He has agreed to continue as CFO until year-end financial filings have been completed and his successor is in place.
Lotus Pharmaceuticals Inc.
Lotus Pharmaceuticals Attains Public Company Status Through an Acquisition By S.E. Asia Trading Company
BEIJING, Sept. 29, 2006 (PRIMEZONE) -- Lotus Pharmaceuticals International, Inc. announced that it has attained public company status on the Over-the-Counter Bulletin Board, by having successfully been acquired by a publicly traded corporation, S.E. Asia Trading Company, Inc. (OTCBB:SEAA). S.E. Asia acquired all of the Lotus outstanding capital stock from Lotus' shareholders in exchange for newly-issued S.E. Asia common stock. Following this acquisition, the sole operations of S.E. Asia will be the operations of Lotus. S.E. Asia will also change its name to "Lotus Pharmaceutical, Inc." and its stock symbol change accordingly in the near future. Lotus had partnered with Genesis Technology Group, Inc. (OTCBB:GTEC) through its Genesis Equity Partners (GEP) partnering program to achieve this goal in just six months' time.
Genesis Pharmaceuticals Enterprises, Inc.
Genesis Technology Group, Inc. Announces Lotus Pharmaceuticals Attains Public Company Status
BOCA RATON, Fla., Sept. 29, 2006 (PRIMEZONE) -- Genesis Technology Group, Inc (OTCBB:GTEC). announced that Lotus Pharmaceuticals, Inc. (OTCBB:SEAA) has attained public company status on the OTC Bulletin Board, having successfully completed an acquisition by S.E. Asia Trading Company, Inc. Lotus contracted with Genesis through its Genesis Equity Partners (GEP) partnering program to achieve this goal in six months' time. With the success of its Chinese partner companies, Genesis management anticipates "the impact on the bottom line of Genesis should be significant".
Berdon Claims Administration LLC
Yourman Alexander & Parekh LLP and Bernstein Litowitz Berger & Grossmann LLP Announce Pendency and Proposed Settlement of In re MasTec, Inc. Securities Litigation
NEW YORK, Sept. 29, 2006 (PRIMEZONE) -- Yourman Alexander & Parekh LLP and Bernstein Litowitz Berger & Grossmann LLP, Lead Plaintiffs' Counsel, announce the pendency and the hearing on the proposed settlement and attorneys' fee petition and right to share in the net Settlement Fund of the class action, In re MasTec, Inc. Securities Litigation, Case No. 04-20886 (FAM). The Settlement Class consists of all persons who purchased or acquired the common stock of MasTec, Inc. ("MasTec") during the period from August 12, 2003, through May 11, 2004, inclusive.
Ship Finance International Limited
Ship Finance International Ltd.: Sale of Vessel and Increase in Main Loan Facility
HAMILTON, Bermuda, Sept. 29, 2006 (PRIMEZONE) -- Ship Finance International Limited ("Ship Finance" or the "Company") has sold its VLCC Front Tobago for gross sales proceeds of US$45 million. Delivery to buyers will take place in January 2007. Upon delivery of the vessel to the buyers, the long term charter party to Frontline Shipping II Ltd. will be terminated, and Ship Finance will make a compensation payment for the early termination of the charter party.
Frontline Ltd.: Newbuildings and Sale of Assets
HAMILTON, Bermuda, Sept. 29, 2006 (PRIMEZONE) -- As previously reported in June 2006, Frontline Ltd. ("Frontline" or the "Company") has been granted an option for further two VLCC newbuilding contracts at Jiangnan Shipyard in China for delivery 2010/2011. The Company has now exercised these options and simultaneously sold the newbuilding contracts to a third party including an element of profit.
Basilea Pharmaceutica Ltd
Basilea Reports Excellent Pivotal Data for Ceftobiprole, a Novel Anti-MRSA Broad-spectrum Investigational Antibiotic, at ICAAC
BASEL, Switzerland, Sept. 29, 2006 (PRIMEZONE) -- Ceftobiprole is the first anti-MRSA broad-spectrum cephalosporin to demonstrate efficacy in a large clinical trial in patients infected with staphylococcal infections, including methicillin-resistant Staphylococcus aureus (MRSA). Data presented support ceftobiprole's potent anti-MRSA activity with clinical cure rates of 92%. Extensive in vitro data presented reaffirm the enhanced broad-spectrum of activity including Gram-negative pathogens. Ceftobiprole is being developed in collaboration with Johnson & Johnson Pharmaceutical Research and Development, L.L.C.