PennyOmega.com Stock Report! 8/28/09, FCT, MRVL, DRCO, SPP, IFN, DANR
PennyOmega.com Stock Report!
PennyOmega.com Hot Stock News & Alerts!
Friday August 28, 2009
PennyOmega.com Stock Report!
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Corners Senior Floating Rate Income Fund II (NYSE:FCT), a closed-end fund managed by First Trust Advisors L.P., announced today that it has commenced an offer to purchase for cash up to 100% of its outstanding Auction Market Preferred Shares (consisting of Series A shares and Series B shares; collectively, the “AMP Shares”) at a price equal to 97% of the liquidation preference of $25,000 per share ($24,250 per share). The offer commenced today and will expire at 5:00 P.M., Eastern time, September 28, 2009, or such later date to which the offer is extended.
A Federal Court has ordered notice be given to all persons and entities who purchased or acquired Marvell Technology Group LTD. securities between February 27, 2003 and October 2, 2006, inclusive (the “Class”) that a lawsuit captioned In re Marvell Technology Group Ltd.(Nasdaq:MRVL ) Securities Litigation, Master File No. C-06-06286 RMW, has been certified as a class action and that a cash settlement of Seventy Two Million Dollars ($72,000,000) has been proposed.
Dynamics Research Corporation (Nasdaq:DRCO), a leading provider of innovative management consulting, engineering, and technology solutions to federal and state governments, today announced that it was awarded a task order with an estimated value, including option periods, of $11.5 million by the Defense Media Activity (DMA) through the General Services Administration (GSA) Alliant contract. The contract enables DRC to continue providing thought leadership, analysis, and technical expertise on emerging media options and creative services in the form of writing, editing, videography and web site design and development to the U.S. Department of Defense’s Office of Public Communication. The contract also provides the capability to expand the scope of services to support the consolidation of other military Service and DoD media components. The contract has a three-month base period and four one-year options.
Sappi Limited (NYSE: SPP) today announced the completion of a series of refinancing transactions that Sappi undertook in order to improve its debt maturity profile and strengthen its balance sheet. As part of the refinancing, Sappi entered into a new revolving credit facility in an amount of euro 209 million, which remains undrawn. In addition, the proceeds of euro 350 million and US$300 million senior secured notes (the “notes”), which were issued on 29 July 2009 by a special purpose vehicle in an offering exempt from the registration requirements of the U.S. Securities Act of 1933, as amended, were released and made available to the Sappi group.
The India Fund, Inc. (NYSE: IFN) announced today the successful completion of its non-transferable rights offering (the “Offer”). The Offer, which commenced on July 20, 2009 and expired on August 14, 2009, entitled stockholders of record as of July 20, 2009 to subscribe for additional shares of the Fund’s common stock. The aggregate total number of new shares issued was 11,614,192 In accordance with the terms of the Offer, the subscription price of $26.42 represented 95% of the net asset value per share as of the close of business on the expiration date of the Offer. Net proceeds to the Fund from the Offer, after deduction of expenses payable by the Fund, totaled approximately $ 787,410.
Dana Resources (OTCBB: DANR), a US-based precious metals exploration and development company, is pleased to announce it is meeting with joint venture candidates about Dana Resources’ base metals projects. Dana Resources currently owns and operates seven mining projects located in Peru’s most prolific mining regions.
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Tags: DANR, Desktop Stock Alert, DRCO, FCT, Hot Stock Alerts, Hot Stock Commentary, Hottest Stock Alert, IFN, Investor's Health, MRVL, Penny Stock Picks, SPP, Stock Alerts
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