latest news releases from the newsroom
NetSol Technologies Inc.
NetSol Technologies, Inc. Signs Binding Letter of Intent to Acquire Pearl Treasury Systems Ltd.
CALABASAS, Calif., July 30, 2003 (PRIMEZONE) -- NetSol Technologies, Inc. (Nasdaq:NTWKC), a developer of proprietary software applications, today announced that it has signed a Binding Letter of Intent to purchase United Kingdom-based Pearl Treasury Systems Ltd. (PTS). Under the terms of the agreement, NetSol will acquire PTS using the company's common stock. NetSol will issue up to 500,000 restricted shares of its common stock over a 12-month period as specified milestones are met by PTS management. NetSol intends to complete the acquisition within 30 days.
Smedvig asa: Court Rulings in the Balder Dispute
STAVANGER, Norway, July 30, 2003 (PRIMEZONE) -- The Stavanger District Court reached today its decision in the dispute between Smedvig (NYSE:SMVa) (NYSE:SMVb) and Esso with regard to the completion of the Balder production vessel. The court concluded that Esso had the right to terminate the sales and purchase contract and the operating contract. On the other hand, the court has concluded that all contractual limitations of responsibility are applicable. Furthermore, the court has rejected Esso's claim of gross negligence on Smedvig's part. Smedvig has to pay NOK 509 million to Esso as compensation for completion and guarantee work and USD 3.5 million as part refund of the purchase price. In addition to these amounts, a preliminary estimated net interest of NOK 150 million will apply.
Crew Gold Corporation
Crew Development Corporation: Test Production Approved at Pamplona -- Domestic Industrial Partner Identified
VANCOUVER, British Columbia, July 30, 2003 (PRIMEZONE) -- Crew Development Corporation ("Crew") (TSE:CRU) (OSE:CRU) (Frankfurt:KNC) (Other OTC:CRWVF) is pleased to announce that the application for a USD 500,000 exploration program including a 2000 tonne bulk sample from the Pamplona sulphur deposit at Negros Island in the Philippines has been approved by the Department of Environment and Natural Resources (DENR). The upgrade of the road and harbour facilities has started and the excavation is scheduled to take place during August and September. The purpose of the bulk sampling is to examine the commercial and technical viability of the Pamplona deposit as a supplier of sulphur to a major agricultural fertilizer company in the region. Subject to the results of the test production, the parties will start planning for regular production. The partner will carry all costs in connection with the bulk sampling and test production.
Strategic Distribution, Inc.
Strategic Distribution, Inc. Announces 2nd Quarter Financial Results Webcast
Bensalem, Pa., July 30, 2003 (PRIMEZONE) -- Strategic Distribution, Inc.'s (Nasdaq:STRD) second quarter financial results conference call will take place on Tuesday, August 5, 2003 at 8:30 a.m. (EST). Strategic Distribution will open the event to the media and general public by broadcasting the call live over the Internet. To listen to this call, please click on the link to the webcast that is available on Strategic Distribution's web site at www.in-plantstore.com. The webcast will also be archived for later listening at the same web address. The call will feature President and CEO, Don Woodring, and Chief Financial Officer, Richard Martin.
ViroPharma Lead Compounds Show Potent Activity Against Smallpox Virus
EXTON, Pa., July 30, 2003 (PRIMEZONE) -- VIROPHARMA INCORPORATED (Nasdaq:VPHM) today announced that compounds from its lead chemical series, recently shown to have potent antiviral activity against a range of orthopoxviruses including monkeypox virus, were also shown to be active against the deadly smallpox (variola) virus. Scientists from the U.S. Army Medical Research Institute of Infectious Diseases (USAMRIID), VIROPHARMA's collaborator on this project, confirmed the activity of the company's compounds against smallpox virus in experiments recently conducted at the Centers for Disease Control and Prevention (CDC) in Atlanta, Georgia.