latest news releases from the newsroom
Ocwen Financial Corp.
Ocwen Financial Corporation Announces Private Placement of Convertible Senior Unsecured Notes
WEST PALM BEACH, Fla., July 20, 2004 (PRIMEZONE) -- Ocwen Financial Corporation (NYSE:OCN) today announced that it intends, subject to market and other conditions, to privately place $125 million aggregate principal amount of contingent convertible senior unsecured notes due 2024. The notes will be convertible, if certain conditions are met, into shares of the Company's common stock. The Company also plans to grant to the initial purchaser of the notes an option to purchase up to an additional $25 million aggregate principal amount of notes. The interest rate, conversion rate and offering price are to be determined by negotiations between the Company and the initial purchaser of the notes.
GB&T Bancshares, Inc.
GB&T Bancshares, Inc. Reports Second Quarter 2004 Net Income of $2.2 Million, Up 28.9%
GAINESVILLE, Ga., July 20, 2004 (PRIMEZONE) -- GB&T Bancshares, Inc. (Nasdaq:GBTB), a fast-growing multi-bank holding company comprised of five Georgia community banks, reported second quarter 2004 net income of $2.2 million, or $0.26 per diluted share, compared with $1.7 million, or $0.25 per diluted share, for the prior-year second quarter. Earnings reflect strong revenue growth from a combination of internal growth and acquisitions; the Company surpassed $1 billion in assets this quarter, reflecting a 32 percent increase above last year's second quarter. The quarterly per share comparison reflects a 24.8 percent increase in average diluted shares outstanding to 8,700,000 as a result of the 1,397,584 shares issued for the acquisition of First National Bank of the South ($127 million in assets), which closed August 29, 2003, and the impact of a 5-for-4 stock split in the form of a stock dividend effective June 18, 2004.
ECON Investor Relations Inc.
U.S. Army Night Vision Electronics and Sensors Directorate Awards $4M Contract to Markland Subsidiary EOIR Technologies Inc.
RIDGEFIELD, Conn., July 20, 2004 (PRIMEZONE) -- Markland Technologies, Inc. (OTCBB:MRKL) (http://www.marklandtech.com), an integrated homeland security company, announced today that the U.S. Army's Night Vision and Electronic Sensors Directorate (NVESD) has awarded EOIR Technologies Inc., a wholly owned subsidiary of Markland, a contract in the amount of $3,977,995. This contract is part of an ongoing NVESD Omnibus Contract. This funding award is for EOIR to provide support services for the development of sensors and platforms over a 24 month performance period.
Sun New Media Inc.
SE Global Acquires California Based Broker-Dealer
WALNUT, Calif., July 20, 2004 (PRIMEZONE) -- SE Global Equities Corp. (OTCBB:SEGB) ("SEG"), a provider of technology and financial resources for international investors, is pleased to announce that it has entered into a formal agreement to acquire Fidelity Asset Management Inc. ("FAM") of Huntington Beach, California (no relation to Fidelity Investment Group of Boston, MA) subject to NASD approval.
KWI Appoints Head of Global Marketing
HOUSTON, July 20, 2004 (PRIMEZONE) -- KWI, the leading provider of trading and risk management software for the global energy industry, today announced the appointment of Don McDonnell as senior vice president of marketing.