latest news releases from the newsroom
Stockgroup Information Systems Inc.
Stockgroup Eliminates Convertible Note and All Long Term Debt
VANCOUVER, British Columbia, May 23, 2003 (PRIMEZONE) -- Stockgroup Information Systems Inc., (OTCBB:SWEB) (TSX Venture Exchange:SWB) a financial media and technology company is pleased to announce that Deephavan Capital has converted into common shares and sold, with the exception of a balance of 700,000 shares which it has retained for investment purposes, the remaining balance of its US$1.23 million convertible note held in the Company. The debt was converted into stock at US$0.28/share and has eliminated all of the Company's long-term debt. The shares were sold primarily to an institutional group including US Global Funds. (www.usfunds.com).
Frontline Capital Adjustments
HAMILTON, Bermuda, May 23, 2003 (PRIMEZONE) -- One employee of Frontline (NYSE:FRO) has exercised options to acquire a total of 13.000 shares in Frontline. All shares have been acquired at a strike price of NOK 27.58 per share. Total proceeds were NOK 358.540.
Bong Sells Industrial Property in England
KRISTIANSTAD, Sweden, May 23, 2003 (PRIMEZONE) -- Bong is concentrating its business units in England. Bong is selling its industrial property in Milton Keynes. About MSEK 30 of the total sales price of about MSEK 37 has been received, while payment of the remaining amount is conditional on certain official approvals being obtained.
Wolverhampton & Dudley -- Video Interviews
LONDON, May 23, 2003 (PRIMEZONE) -- Wolverhampton & Dudley
(Other OTC:WODBF): Indepth interviews now available free on http://www.cantos.com with Ralph Findlay, Chief Executive and Paul Inglett, Finance Director in video, audio and text.
Allied Irish Banks, p.l.c.
Allied Irish Banks, p.l.c. Purchase of Own Shares
DUBLIN, Ireland, May 23, 2003 (PRIMEZONE) -- Allied Irish Banks, p.l.c. ("AIB") (NYSE:AIB) announces that on 22 May 2003, it purchased ordinary shares. Allied Irish Banks, p.l.c. announces that on 22 May 2003, it purchased 350,000 of its ordinary shares, at an average price of 13.1929 Euro, to be held as treasury shares.
Saab Signs 450 M SEK Air Defense Contract in Australia
LINKOPING, Sweden, May 23, 2003 (PRIMEZONE) -- A 450 MSEK (83 M AUD) contract has been secured by Adelaide-based technology company Saab Systems Pty Ltd. Australia, for the supply of an Air Defence System for the Australian Army. The Short Range Air Defence (SHORAD) system will upgrade and enhance the capability of the Australian Army.
NetSol Technologies Inc.
NetSol Technologies, Inc. Requests Hearing Before NASDAQ Listing Qualifications Panel
CALABASAS, Calif., May 22, 2003 (PRIMEZONE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a developer of proprietary software applications, announced today that it has filed a request for an oral hearing before the NASDAQ Listing Qualifications Panel to appeal NASDAQ's determination that the company no longer qualifies for continued listing on the NASDAQ Small Cap Market set forth in NASD Marketplace Rule 4310 (c) (4). Granting of the Company's request for a hearing will stay delisting of the company's securities pending the Panel's decision.
Western Media Group
Western Media Group Announces Letter of Intent to Acquire ITES LLC
COMMACK, N.Y., May 22, 2003 (PRIMEZONE) -- Western Media Group Corporation (OTCBB:WMGC) is pleased to announce it has entered into a Letter of Intent to acquire ITES LLC("ITES"). ITES provides IT Enabled Services to its clients. The acquisition is aimed at benefiting from the synergies that exist between ITES and one of Western Media's subsidiaries, Med-Link USA, Inc., and the development of its Virtual Private Network (VPN). Both companies have begun negotiations on a definitive agreement.