latest news releases from the newsroom
Metro International: Restricted Stock Allocation
BERTRANGE, Luxembourg, Sept. 30, 2004 (PRIMEZONE) -- Metro International S.A. ("Metro"), the international newspaper group, today announced that a total of 100,048 series 'A' shares and 100,048 series 'B' shares have been awarded to two independent non-executive Board Directors (Lance R. Primis and Paddy Byng) and two advisers to the Board of Directors (Lester Pollack and John Hepburn). The awards have been made under the terms of the company's long-term incentive plan, which was approved by the Board of Directors and announced in February 2004. The shares have been acquired by the four individuals at a price of US$ 0.25 per share.
Converium Holding AG
Dr. Jurgen Forterer Resigns from Converium's Board of Directors
ZUG, Switzerland, Sept. 30, 2004 (PRIMEZONE) -- Dr. Jurgen Forterer, CEO of R+V Versicherung, Wiesbaden, has resigned from the Board of Directors of Converium Holding Ltd effective September 29, 2004. This decision is a result of Converium's future focus on small and medium-sized clients in Europe which leads to direct competition with the reinsurance business of R+V Versicherung. In order to avoid any conflict of interest Dr. Forterer has decided to step back from the Board of Directors of Converium Holding Ltd.
Sitestar Corporation Announces Alliance with Hamlin Marketing Group
LYNCHBURG, Va., Sept. 29, 2004 (PRIMEZONE) -- Sitestar Corporation (OTCBB:SYTE), an Internet service provider and computer services company, today announced that it has formed a marketing alliance with Hamlin Marketing Group to promote Sitestar's company and its services. Hamlin's main goals will be to help Sitestar become a nationally recognized Internet service provider and increase its revenues through the Sitestar.net and SurfWithUs.Net brand names.
Biolase Technology, Inc. Charged With Securities Fraud, Says The Pomerantz Firm -- BLTI
NEW YORK, Sept. 29, 2004 (PRIMEZONE) -- A class action lawsuit has been filed by Pomerantz Haudek Block Grossman & Gross LLP (www.pomerantzlaw.com) in the United States District Court for the Central District of California against Biolase Technology, Inc. ("Biolase" or the "Company") (Nasdaq:BLTI) and two of the Company's senior officers, on behalf of investors who purchased the securities of Biolase during the period between October 29, 2003 through July 16, 2004, inclusive (the "Class Period").
The Pomerantz Firm Charges The St. Paul Travelers Companies With Securities Fraud -- STA
NEW YORK, Sept. 29, 2004 (PRIMEZONE) -- Pomerantz Haudek Block Grossman & Gross LLP (www.pomerantzlaw.com) has filed a class action lawsuit in the United States District Court for the District of Minnesota on behalf of former shareholders of Travelers Property Casualty Corp. ("Travelers") Class A and Class B common stock who exchanged their shares in Travelers for shares of the St. Paul Travelers Companies, Inc. ("St. Paul") (NYSE:STA) common stock pursuant to the April 1, 2004 merger of St. Paul and Travelers.
Northrop Grumman Corp.
Northrop Grumman Consolidates Operations in Nebraska
OMAHA, Neb., Sept. 29, 2004 (PRIMEZONE) -- Northrop Grumman Corporation (NYSE:NOC), the largest defense contractor in Nebraska, broke ground today on a new, state-of-the art facility that will consolidate current local operations from four sites to a single headquarters near Offutt Air Force Base. The company has more than 750 employees in the Omaha area.
First Horizon National Corporation
First Horizon National Corporation Announces Preliminary Third Quarter 2004 Results
MEMPHIS, Tenn., Sept. 29, 2004 (PRIMEZONE) -- First Horizon National Corporation (NYSE:FHN) announced today that third quarter 2004 earnings will be negatively impacted primarily by a challenging environment in the fixed income markets, as well as a delay in the closing of a securitization. However, due to an increase in loans in the held for sale account as the securitization was delayed, the investment portfolio size was reduced, creating securities gains which will be recognized this quarter. As a result of these impacts, FHN anticipates earnings per share for the third quarter ending Sept. 30, 2004, to be in the range of $0.89 to $0.92.