latest news releases from the newsroom
Petroleum Geo-Services ASA
PGS Shareholders Approve Restructuring Plan
OLSO, Norway, and HOUSTON, Oct. 16, 2003 (PRIMEZONE) -- Petroleum Geo-Services ASA (debtor in possession) ("PGS" or the "Company") (OSE:PGS; (Pink Sheets:PGOGY) announced today that at the Company's Extraordinary General Meeting (the "EGM") held on October 16, 2003, 99.7% of the outstanding ordinary shares of the Company represented and voting at the EGM voted to accept the Company's First Amended Plan of Reorganization (as modified, the "Plan"), which was filed with the U.S. Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court") on September 10, 2003.
Bure increases its holding in Citat
GOTHENBURG, Sweden, Oct. 16, 2003 (PRIMEZONE) -- Bure (Other OTC:BRVVF) has made a conditional offer to all minority shareholders in Citat to acquire their shares. The offer was subject to Bure achieving an ownership of Citat in excess of 90 per cent. The offer has been accepted to the extent that Bure's ownership now amounts to 99.9 per cent and Bure is, therefore, completing its offer. Bure's ownership before its offer to the minority shareholders was 79 per cent.
PharmChem Announces Delisting Waiver; Loss Of Customer
HALTOM CITY, Texas, Oct. 16, 2003 (PRIMEZONE) -- PharmChem, Inc. (Nasdaq:PCHMC) announced it has received a waiver until January 2004 of the Nasdaq $1.00 minimum bid price requirement. The waiver was granted as a result of a resolution adopted by the Board of Directors whereby the stockholders of the Company will be asked to consider a reverse stock split at a special stockholder meeting. Pursuant to the waiver, the Company must evidence a closing bid price of at least $1.00 per share on or before January 14, 2004 and, immediately thereafter, a closing bid price of at least $1.00 per share for a minimum of ten consecutive trading days. In order to comply with the terms of the waiver, the Company must also be able to demonstrate compliance with all other requirements for continued listing on The Nasdaq SmallCap Market.
SkyWay Communications Holding Corp.
SkyWay Communications Holding Corp. Announces Its Plan to Activate the SkyWay Network Tower System
CLEARWATER, Fla., Oct. 16, 2003 (PRIMEZONE) -- On October 16, 2003, SkyWay Communications Holding Corp. (OTCBB:SWYC) and its wholly owned subsidiary, Sky Way Aircraft Inc., announced their plans for using the $1,000,000 investment from the duPont Investment Fund 57289, Inc. SkyWay has indicated that they plan to commence the rebuilding process of the network infrastructure immediately. As previously reported on October 6, 2003 and July 9, 2003, the rebuilding includes the hiring of the engineers and technicians who previously provided the maintenance and operational functions of the air-to-ground network and the activation of the national tower system that once supported the ground-to-air telephone service originally developed by AT&T/Claircom. SkyWay is currently in discussions with tower site owners and managers regarding the site acquisition and tower upgrades and identifying additional engineering personnel who will provide the technical support required to prepare and operate the first 10 operational sites. These initial sites will provide the network coverage for the eastern seaboard from Miami to Boston and provide the in-flight entertainment and advertising services to support the Southeast Airlines flight schedule. Currently operational sites are located in Clearwater/St. Petersburg, FL and Dulles International Airport, VA which are used for research testing and demonstrations, with sites planned in Orlando, Atlanta, Dallas/Ft. Worth, TX and Orange County, CA scheduled for activation within the next 45 - 60 days.
Galapagos reports adenoviral siRNA based results
MECHELEN, Belgium, Oct. 16, 2003 (PRIMEZONE) -- Galapagos Genomics today announced that it has published its adenoviral siRNA based gene silencing technology in the scientific journal Genome Research (Arts et al., October 2003(1)). The publication demonstrates efficient knock down of specific gene expression in a variety of cell types, including human primary cells. These results open the road to discovery and validation of novel drug targets in numerous therapeutic applications.
Mack President joins Volvo Group Executive Committee
GOTEBORG, Sweden, Oct. 16, 2003 (PRIMEZONE) -- Volvo Trucks (Nasdaq:VOLVY) (Other OTC:VOLVF) (Other OTC:VOLAFK) today announced that Paul L Vikner, who has served since July 2001 as President and CEO of Mack Trucks, Inc., will become a member of Volvo's Group Executive Committee (GEC) effective January 1, 2004, reporting to Leif Johansson, President and CEO of the Volvo Group. The GEC is the highest-level management committee in the Volvo Group.
Namex Explorations Inc.
Update On Namex's Work Programs And Activity By Companies With Contiguous Properties
MONTREAL, Quebec, Oct. 16, 2003 (PRIMEZONE) -- Namex (TSX Venture Exchange:NME) is pleased to announce that a helicopter-borne "Time domain electromagnetic geophysical survey" is being undertaken by Geotech Limited on its Woods Creek, Golden Pine and Post Creek properties. The Geotech system, recognized for effectively using the advantages of digital electronics, provides deeper penetration and detection of weak anomalies thereby picking up anomalies left undetected by previous airborne EM surveys. Based on the results of this survey, ground verification of anomalies can be focused on and diamond drilling begun on those sites with the greatest potential.
Stolt-Nielsen S.A. Reports Third Quarter 2003 Results
LONDON, Oct. 16, 2003 (PRIMEZONE) -- Stolt-Nielsen S.A. (Nasdaq:SNSA) (OSE:SNI) today reported results for the third quarter and the nine-month period ended August 31, 2003. Net loss for the latest quarter was $36.2 million, or $0.66 per share, on net operating revenue of $774.8 million, compared with a net income of $1.8 million, or $0.03 per share, on net operating revenue of $753.2 million for the third quarter in 2002. The basic weighted average number of shares outstanding for the third quarter of 2003 and 2002 was 54.9 million.Net loss for the nine-month period ended August 31, 2003 was $99.6 million, or $1.81 per share, on net operating revenue of $2.3 billion, compared with net loss of $1.7 million, or $0.03 per share, on net operating revenue of $2.0 billion for the same period of 2002. For the nine-month period of 2003 and 2002, the basic weighted average number of shares outstanding was 54.9 million.