Tag Archives: Company Board

Dejour Energy Accepts Devine Resignation

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Dejour Energy Accepts Devine Resignation

Reconfigures Board for June AGM

VANCOUVER, British Columbia–(BUSINESS WIRE)– Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ), an independent oil and natural gas exploration and production company operating in North America’s Piceance Basin and Peace River Arch regions, today announced that it has accepted the resignation of Mr. Darren Devine, effective immediately. Dejour has certainly appreciated Darren’s dedicated contribution as an independent member of the Company’s Board of Directors since 2009, serving on multiple committees during his 4 year tenure. We wish Mr. Devine every success in his future endeavors.

About Dejour

Dejour Energy Inc. is an independent oil and natural gas exploration and production company operating projects in North America’s Piceance Basin and environs (approximately 129,000 net acres) and Peace River Arch regions (approximately 8,500 net acres). Dejour’s seasoned management team has consistently been among early identifiers of premium energy assets, repeatedly timing investments and transactions to realize their value to shareholders’ best advantage. Dejour maintains offices in Denver, USA, Calgary and Vancouver, Canada. The company is publicly traded on the New York Stock Exchange MKT (NYSE MKT: DEJ) and Toronto Stock Exchange (TSX: DEJ).

The TSX does not accept responsibility for the adequacy or accuracy of this news release.

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Dejour Energy Inc.
Robert L. Hodgkinson, 604-638-5050
Co-Chairman & CEO
Facsimile: 604-638-5051
investor@dejour.com
or
Craig Allison, 914-882-0960
Investor Relations – New York
callison@dejour.com

KEYWORDS:   North America  Canada

INDUSTRY KEYWORDS:

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Source: FULL ARTICLE at DailyFinance

Wheeler Real Estate Investment Trust, Inc. Appoints Carl B. McGowan, Jr., PhD, CFA, to Its Board of

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Wheeler Real Estate Investment Trust, Inc. Appoints Carl B. McGowan, Jr., PhD, CFA, to Its Board of Directors

VIRGINIA BEACH, Va.–(BUSINESS WIRE)– Wheeler Real Estate Investment Trust, Inc. (Nasdaq: WHLR) (“Wheeler” or the “Company”), a company specializing in owning, acquiring, financing, developing, renovating, leasing and managing income producing assets, such as community centers, neighborhood centers, strip centers and free-standing retail properties, today announced that it has appointed Carl B. McGowan, Jr., PhD, CFA, as a member of the Company’s Board of Directors and the Audit Committee of the Board of Directors. Dr. McGowan will also serve as the Chairman of its Audit Committee. Dr. McGowan, who brings over 30 years of extensive financial experience to the Board, will replace John McAuliffe, who resigned his position with the Company to pursue other business interests. Wheeler’s Board will remain at seven members with five of those members being independent.

Dr. McGowan is presently the Faculty Distinguished Professor of Finance at Norfolk State University. Dr. McGowan has a BA in International Relations (Syracuse), an MBA in Finance (Eastern Michigan), and a PhD in Business Administration (Michigan State).

Dr. McGowan has conducted extensive research is in the areas of corporate finance and international finance, with specific studies relating to real estate operations. In addition to over 150 conference presentations, Dr. McGowan has published 68 articles in numerous peer-reviewed journals including: The Journal of Real Estate Research, The American Journal of Business Education, Applied Financial Economics, Decision Science, Financial Practice and Education, The Financial Review, International Business and Economics Research Journal, The International Review of Financial Analysis, The Journal of Applied Business Research, The Journal of Business Case Studies, The Journal of Diversity Management, Managerial Finance, Managing Global Transitions, The Southwestern Economic Review, and Urban Studies.

Jon S. Wheeler, Chairman and CEO, stated, “We are very pleased to welcome Dr. McGowan to the Board. His diverse experience and well-known authority in finance and economics will be valuable as we pursue the continued growth of the Company. His experience and research in real estate finance will add to the depth and breadth of the Board, and we look forward to his leadership as head of our Audit Committee and benefitting from his counsel.”


About Wheeler Real Estate Investment Trust Inc.

…read more

Source: FULL ARTICLE at DailyFinance

CIRCOR Names Scott Buckhout President and Chief Executive Officer

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CIRCOR Names Scott Buckhout President and Chief Executive Officer

Former UTC Executive Brings Proven Record of Expanding Margins and Accelerating Growth

BURLINGTON, Mass.–(BUSINESS WIRE)– CIRCOR International, Inc. (NYS: CIR) , a leading provider of valves and other highly engineered products for the energy, industrial and aerospace markets, today announced that its Board of Directors has appointed Scott Buckhout as President and Chief Executive Officer, effective immediately. Mr. Buckhout, who most recently served as President of United Technologies Corporation’s (“UTC”) $7 billion Fire and Security division, has also been appointed to the Company’s Board of Directors. Wayne Robbins, who has served as Acting President and Chief Executive Officer since December 2012, will continue as CIRCOR‘s Executive Vice President and Chief Operating Officer.

“On behalf of the Board of Directors, I am delighted to welcome Scott as CIRCOR‘s next President and CEO,” said David Dietz, Chairman of the CIRCOR Board of Directors. “Our Board conducted a thorough and comprehensive search over the past four months and unanimously concluded that Scott is best suited to lead CIRCOR through its next phase of growth and development. Scott has a proven record of improving the performance of manufacturing businesses such as CIRCOR‘s, identifying and successfully integrating and rationalizing acquisitions, and driving organic and acquisitive growth. We are excited about CIRCOR‘s prospects for growth and value creation with a continued focus on Lean principles under Scott’s leadership and look forward to working closely with him.”

Scott Buckhout said, “I am honored to lead CIRCOR, a strong company with a diverse portfolio of products in attractive end markets and a solid, well-managed balance sheet. I am committed to driving improved operating results and margin expansion, as well as growth organically and through in-market acquisitions. I am enthusiastic about the opportunities ahead. I look forward to working closely with CIRCOR‘s Board of Directors, executive team and talented and hard-working employees around the world to build upon this Company’s proud history and accelerate its growth and success.”

Added Mr. Dietz, “CIRCOR‘s Board of Directors is grateful for Wayne Robbins‘ service as CIRCOR‘s Acting CEO since December. Wayne has been a valued member of CIRCOR‘s leadership team for seven years, and we are excited that he will continue to play an integral leadership role at the Company alongside Scott Buckhout.”

About Scott Buckhout

…read more

Source: FULL ARTICLE at DailyFinance

Armada Oil Adds Marceau Schlumberger to the Board of Directors

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Armada Oil Adds Marceau Schlumberger to the Board of Directors

DALLAS–(BUSINESS WIRE)– Armada Oil, Inc. (OTCBB: AOIL) (“Armada Oil” or the “Company”), a growth-oriented oil and gas Exploration and Production (E&P) company, today announced that Marceau Schlumberger has joined the Company’s Board of Directors.

Marceau Schlumberger is a Partner and Founder of Coral Reef Capital (“CRC“), a private equity firm focused on investments in the natural resources sector, including oil & gas exploration and production, metals & mining, energy and related infrastructure and services. Prior to founding CRC, he served as Principal of Columbus Nova from 2004 to 2008 where he was responsible for sourcing, structuring, negotiating and managing private equity investments and buyouts, leading several successful transactions such as the leveraged buyout of Cyalume Technology Holding, Inc., as well as land finance and development partnerships with Hovnanian Enterprises, Inc.

Prior to that, Mr. Schlumberger was an Associate at Triumph Capital, a private equity fund with $950 million of capital where he completed seven investments, assisted in the profitable sale of two portfolio companies and served as a Board Observer for several Triumph portfolio companies. He was also a founding member and analyst of Smith Barney’s Asia Investment Banking Group and an analyst at Zilkha & Co., a buy-side M&A advisory and merchant banking firm.

In addition to Armada Oil, Mr. Schlumberger currently serves on the Board of Directors of the following private companies: Shawnee Exploration, Microline Surgical Inc. (member of the Compensation Committee), Rawhide Mining, LLC (Chairman of the Audit Committee), and PF Leonville. He previously served on the Boards of the following private companies: Pacific Building Care, Cyalume Technologies, Inc. (now public), ISCON Video Imaging and Craig Michaels, Inc.

“Marceau’s financial background and experience further diversifies the Company’s team of seasoned industry experts, and his knowledge and experience with mergers and acquisitions, buyouts and capital formation for middle market companies will be extremely valuable as we strive to become an industry leader. We are pleased to have him on our Board,” said Randy M. Griffin, CEO and Chairman of Armada Oil.

“With oil and gas opportunities in multiple regions, I believe Armada Oil is positioned to become a high growth company and I look forward to providing support and strategic opportunities that will help to build shareholder value and visibility in the public markets,” commented Marceau Schlumberger.

For more detailed biographies on all of Armada’s Board members, visit the Company’s new corporate site at www.armadaoil.us.

…read more

Source: FULL ARTICLE at DailyFinance

RF Industries Announces the Appointment of Independent Board Member Joseph Benoit

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RF Industries Announces the Appointment of Independent Board Member Joseph Benoit

SAN DIEGO–(BUSINESS WIRE)– RF Industries Ltd. (Nasdaq: RFIL) announced today that it has appointed Joseph Benoit to serve as an independent member on the Company’s Board of Directors.

From 1992-2012 Mr. Benoit held executive positions of increasing responsibility at Union Bank. As a Senior Vice President/Market President he directly managed over 100 Union Bank branch offices. In 2008 he became Executive Vice President and head of Business Banking for Union Bank. He subsequently served as Union Bank‘s integration manager for their FDIC assisted acquisitions.

Mr. Benoit has served on numerous boards, primarily in a finance capacity, including the San Diego Regional Chamber of Commerce, the Pacific Coast Banking School and the San Diego Zoological Society Foundation. He holds a B.S. in Business Administration from San Diego State University, an MBA from National University and he is a graduate of the Pacific Coast Banking School.

Howard Hill, CEO of RF Industries, stated, “We are very pleased to welcome Joe as a new independent member of our Board of Directors. We believe that his extensive financial experience will be of tremendous value to our board as we look to build long term value for our shareholders.”

About RF Industries

RF Industries manufactures, designs and distributes Radio Frequency (RF) connectors and cable assemblies, medical cabling products, RF wireless products and fiber optic cable products. Coaxial connectors, cable assemblies and custom microwave RF connectors are used for Wi-Fi, PCS, radio, test instruments, computer networks, antenna devices, aerospace, OEM and Government agencies. Medical Cabling and Interconnector products are specialized custom electrical cabling products for the medical equipment monitoring market. RF Wireless products include digital data transceivers for industrial monitoring, wide area networks, GPS tracking and mobile wireless network solutions. Fiber optic cable, connector and harness products serve computer, aerospace, computer networking and specialty applications.

Forward-Looking Statements

This press release contains forward-looking statements with respect to future events which are subject to a number of factors that could cause actual results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to: changes in the telecommunications industry; the operations of the Cables Unlimited division which was acquired in June 2011; and the Company’s reliance …read more

Source: FULL ARTICLE at DailyFinance

Abraxas Nominates Jerry J. Langdon and Katherine T. Richard to Board of Directors

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Abraxas Nominates Jerry J. Langdon and Katherine T. Richard to Board of Directors

Clinton Group Withdraws Slate and Agrees to Support Abraxas’ Director Nominees

SAN ANTONIO–(BUSINESS WIRE)– Abraxas Petroleum Corporation  (NAS: AXAS) today announced the nomination of Jerry J. Langdon to the Company’s Board of Directors and the Board’s intention to name Katherine T. Richard to fill an expected Board vacancy. Mr. Langdon will stand for election at the Company’s 2013 Annual Meeting of Stockholders. Ms. Richard will fill the vacancy in the Board created by the retirement of C. Scott Bartlett, Jr. from the Board. With the addition of Mr. Langdon, Abraxas’ Board will be expanded from nine to ten directors, nine of whom will be independent.

“We are pleased that Jerry has accepted our invitation to join our Board as a new independent director,” said Bob Watson, Abraxas Chairman, President and CEO. “His extensive experience in the energy industry will prove invaluable as he works with our other directors to create value for all Abraxas stockholders. We would also like to thank Scott Bartlett for his 13 years of exceptional service to Abraxas and wish him well on his future endeavors.”

Mr. Watson added, “We are also excited about the addition of Kate Richard to our Board. Kate has invested across the capital structures of public and private oil and gas companies and throughout the energy value chain. Kate will add a breadth of experience and a new perspective to our Board.”

In conjunction with the appointments of Mr. Langdon and Ms. Richard, Abraxas also announced today that the Clinton Group, Inc. has notified the Company that it is withdrawing its slate of nominees for election to Abraxas’ Board of Directors at the 2013 Annual Meeting of Stockholders. The Clinton Group has agreed to vote its shares in support of all of Abraxas’ director nominees in 2013 and to abide by certain standstill provisions.

“We expect that Mr. Langdon and Ms. Richard will be exceptional directors for Abraxas,” said George Hall, Chief Executive Officer of Clinton Group. “We are enthusiastic shareholders and believe the Company is significantly undervalued. We hope the addition of these new directors will help the Company realize its full potential for the benefit of all shareholders.”

Jerry J. Langdon, 60, currently works …read more

Source: FULL ARTICLE at DailyFinance

First PacTrust Bancorp Announces Appointment of Jonah Schnel to Its Board of Directors

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First PacTrust Bancorp Announces Appointment of Jonah Schnel to Its Board of Directors

IRVINE, Calif.–(BUSINESS WIRE)– First PacTrust Bancorp, Inc. (NAS: BANC) (the “Company”), the multi-bank holding company for Pacific Trust Bank and Beach Business Bank, today announced that the Board of Directors, upon the recommendation of the Nominating Committee, appointed Jonah Schnel as a director of the Company and as a member of the Compensation and Nominating Committees of the Board.

Mr. Schnel founded and has managed several privately-held specialty finance businesses and currently is the Chairman of Fast A/R Funding (www.fastarfunding.com), a private company focused on lending to small businesses throughout the United States. Earlier in his career, Mr. Schnel worked at SunAmerica Investments, Inc. as a manager in the real estate investment division with a primary focus of first lien lending on a diverse range of commercial real estate assets. Mr. Schnel received his Bachelor’s Degree, summa cum laude, from Tulane University and completed the Director training and certification program at the UCLA Anderson School of Management. Mr. Schnel currently lives in Los Angeles, California with his wife and three children and serves as the President and Chair of the Southern California Chapter of the Tourette Syndrome Association.

Timothy Chrisman, Chairman of the Company’s Board, stated, “We are very pleased to have someone of Jonah’s background, skills and expertise join our Board. Jonah’s reputation for independence and integrity will complement our existing Board very well.” The Company’s Board of Directors is now comprised of eight members and includes six independent Directors.

Steven Sugarman, Chief Executive Officer of the Company, added, “I am excited to work with Jonah for the benefit of our shareholders. The Company will benefit from Jonah’s significant experience overseeing and managing a diverse set of finance-related businesses — including commercial real estate, lending and new business formation.”


About First PacTrust Bancorp

Based in Irvine, CA, First PacTrust Bancorp, Inc. is the $1.7 billion multi-bank holding company of Pacific Trust Bank and Beach Business Bank, which together operate banking offices in Los Angeles, Orange, San Diego and Riverside counties, and loan production offices in California, Arizona, Oregon and Washington.


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Source: FULL ARTICLE at DailyFinance

Atlas Announces 2013 Annual Meeting of Shareholders

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Atlas Announces 2013 Annual Meeting of Shareholders

CHICAGO–(BUSINESS WIRE)– Atlas Financial Holdings, Inc. (NASDAQ: AFH; TSX.V: AFH) (“Atlas” or the “Company”) announced today that the Company’s Board of Directors has called an Annual General Meeting of shareholders to be held on May 30, 2013 at 10:00 am central time, at the Company’s headquarters at 150 Northwest Point Boulevard, Elk Grove Village, IL 60007. A record date of April 26, 2013 has been set for determining shareholders entitled to receive notice of the meeting. Details of, and the agenda for, the meeting will be set forth in the Company’s management information circular to be mailed to shareholders.

About Atlas

The primary business of Atlas is commercial automobile insurance in the United States, with a niche market orientation and focus on insurance for the “light” commercial automobile sector including taxi cabs, non-emergency paratransit, limousine/livery and business auto. The business of Atlas is carried on through its insurance subsidiaries American Country Insurance Company, American Service Insurance Company, Inc. and Gateway Insurance Company. Atlas’ insurance subsidiaries have decades of experience with a commitment to always being an industry leader in these specialized areas of insurance.

For more information about Atlas, please visit www.atlas-fin.com.

Financial Information

Atlas’ financial statements reflect consolidated results of Atlas’ subsidiaries: American Insurance Acquisition Inc., American Country Insurance Company and American Service Insurance Company, Inc. Additional information about Atlas, including a copy of Atlas’ 2012 Form 10-K financial statements and Management Discussion & Analysis, can be accessed on the Canadian Securities Administrators‘ website at www.sedar.com, via the U.S. Securities and Exchange Commission internet site at www.sec.gov or through Atlas’ website at www.atlas-fin.com.

Forward-Looking Statements:

This release includes forward-looking statements regarding Atlas and its insurance subsidiaries and businesses. Such statements are based on the current expectations of the management of each entity. The words “anticipate”, “expect”, “believe”, “may”, “should”, “estimate”, “project”, “outlook”, “forecast” or similar words are used to identify such forward looking information. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known …read more
Source: FULL ARTICLE at DailyFinance

COPT Announces Changes to Board of Trustees

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COPT Announces Changes to Board of Trustees

COLUMBIA, Md.–(BUSINESS WIRE)– Corporate Office Properties Trust (COPT or the Company) (NYS: OFC) announced that Jay H. Shidler and Clay W. Hamlin, III will step down from their respective positions as Chairman and Vice Chairman of the Company’s Board of Trustees, effective at the Company’s upcoming annual meeting of shareholders on May 9,2013. Both are nominated for re-election at the meeting and if elected will remain on the Board as trustees. Thomas F. Brady, who has served on the Company’s Board since January 2002 and is also nominated for re-election, has been appointed Chairman of the Board, also effective May 9, 2013.

“It has been an honor to serve as Chairman of Corporate Office Properties Trust since 1997,” stated Jay H. Shidler, Chairman of the Board of Trustees for Corporate Office Properties Trust. “Tom’s extensive career in key financial and strategic executive positions at a substantial public company qualifies him to lead our Board and assess our strategic initiatives,” he stated.

Mr. Brady was Chairman of the Board of Directors of Baltimore Gas & Electric Company (”BGE”) and Executive Vice President – Corporate Strategy at Constellation Energy Group (”CEG”) (formerly NYSE: CEG, now a subsidiary of Exelon Corporation, NYSE: EXC). During his career at CEG/BGE, Mr. Brady held a series of senior executive positions providing experience in strategy, mergers and acquisitions, entrepreneurial start-up businesses, managing local utility operations and chief accounting officer responsibilities. Prior to its acquisition by Exelon, CEG was a Fortune 200 company owning energy related businesses, including BGE. BGE is the largest electric and gas utility in Maryland. He continued to serve on the Board of Directors of BGE through 2012. Mr. Brady is Chairman of the Opower Advisory Board, a global leader in providing energy information software to the utility industry. Mr. Brady is also on the Board of Directors of ENBALA Power Networks Ltd., a smart grid technology company providing innovative grid balancing services to utilities and electric system operators. Both Opower and ENBALA are privately-owned clean technology companies. Mr. Brady is also a Trustee and Treasurer of the Board of Stevenson University.


Company Information

COPT is an office REIT that focuses primarily on serving …read more
Source: FULL ARTICLE at DailyFinance

CareView Communications, Inc. Announces $3.1 Million Private Placement

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CareView Communications, Inc. Announces $3.1 Million Private Placement

LEWISVILLE, Texas–(BUSINESS WIRE)– CareView Communications, Inc. (“CareView” or the “Company”) (OTCQB: CRVW), an information technology provider to the healthcare industry, announced today that it entered into definitive Securities Purchase Agreements with accredited investors to sell 6,220,000 shares of the Company’s common stock in a private placement for aggregate gross proceeds to the Company of approximately $3.1 million. In conjunction with the sale of shares, the Company will issue warrants to purchase an additional 2,500,000 shares of the Company’s common stock at an exercise price of $0.60 per share. In support of the financing, all eligible members of the Company’s Board of Directors participated in the purchase of shares under the private placement; however, they declined to receive the accompanying warrants in an effort to minimize dilution to existing shareholders. Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS), served as the Company’s exclusive placement agent. The net proceeds from the private placement will be used for ongoing operations.

Upon the closing of this private placement, the Company will have approximately $8 million in cash and $19.5 million available through a revolving line of credit. These funds will enable the Company to more quickly advance the anticipated rapid expansion of hospital deployments in the near future.

The private placement, which is expected to close on or about April 1, 2013, is subject to the satisfaction of certain customary closing conditions contained in the securities purchase agreements. The securities to be issued in this private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act“), and may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from registration requirements of the Securities Act and such applicable state and securities laws. The Company has agreed to file a registration statement with the Securities and Exchange Commission within 30 days of closing to register for resale the shares of common stock to be issued in the private placement.


About CareView Communications, Inc.

CareView’s mission is to be the leading provider of products and on-demand application services for the healthcare industry by specializing in bedside video monitoring, archiving and patient care documentation systems and patient entertainment services. Through the use of telecommunications technology and the Internet, our products …read more
Source: FULL ARTICLE at DailyFinance

Amarantus BioScience Reports Positive MANF Data in Neuroprotection Animal Models of Parkinson's Dise

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Amarantus BioScience Reports Positive MANF Data in Neuroprotection Animal Models of Parkinson’s Disease

Company’s proprietary therapeutic appears to protect key dopamine-producing brain function

SUNNYVALE, Calif.–(BUSINESS WIRE)– Amarantus BioScience, Inc. (OTCQB: AMBS), a biotechnology company discovering and developing treatments and diagnostics for diseases associated with neurodegeneration and apoptosis, today reported positive preclinical data for its lead therapeutic MANF in neuroprotection 6-hydroxydopamine (6-OHDA) rat models of Parkinson’s disease. The data show that MANF protects the integrity of dopamine producing neurites in the striatum.

“Our scientists are excited by this data, which not only demonstrates the efficacy of MANF, but its superiority to GDNF, as well,” said Gerald E. Commissiong, President and Chief Executive Officer of Amarantus BioScience. “Based on this study, we believe MANF plays a role in maintaining brain connectivity, specifically the dopaminergic system of the basal ganglia network, which reinforces the potential of MANF as a disease-modifying treatment for Parkinson’s.”

In the neuroprotection study, MANF was delivered into the substantia nigra shortly before injection of the toxin 6-OHDA into the striatum. Four weeks later the animals were sacrificed and the density of dopaminergic neuron projections in the striatum was determined. The protection of neuron health, as measured by the density of neurite terminals, was evident in all three areas of the striatum examined. The effects of a single MANF treatment were evident after four weeks, indicating the effects of MANF protection are sustained. Furthermore, the highest level of neurite density was found at the highest dosage of MANF. Importantly, the neurite density measured under treatment with MANF was statistically significantly better than shown for both vehicle control and a standard dosage of Glial cell-Derived Neurotrophic Factor (GDNF). GDNF is currently in clinical trials for Parkinson’s disease and considered the current benchmark in the field. The data summarized here suggests that MANF may have advantages over GDNF for the clinical treatment of Parkinson’s disease.

“The data on MANF continues to return more favorable results than other molecules currently in clinical development as disease-modifying treatments for Parkinson’s disease,” said Dr. Joseph Rubinfeld, Amgen co-founder and current member of the Company’s Board of Advisors. “We intend to conduct select additional experiments to understand why this appears to be the case while we continue the IND-enabling studies that have already been initiated. We believe these additional data points will further distinguish MANF from competitors in the field, and will deliver significant value in the near-term.”

…read more
Source: FULL ARTICLE at DailyFinance

Gleacher & Company Announces Reopening of Stockholder Proposal Period

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Gleacher & Company Announces Reopening of Stockholder Proposal Period

In Response to Request by Stockholder Clinton Group, Inc., Company to Allow Further Stockholder Nominations to the Board of Directors

NEW YORK–(BUSINESS WIRE)– Gleacher & Company, Inc. (NAS: GLCH) today announced that it has received a letter from a stockholder of the Company, Clinton Group, Inc., requesting that the Company reopen the period during which stockholders of the Company may submit proposals for nominations to the Company’s Board of Directors (the “Board”). The Company’s bylaws required that stockholders provide advance notice of their intention to nominate directors to the Board by February 23, 2013. In light of recent developments since that date, together with principles of corporate governance, the Board has agreed to suspend the advance notice bylaw provision deadline for the purpose of allowing proposals for director nominations, effective immediately, as described herein. The Board will allow any stockholder of the Company to submit proposals for nominations to the Board, in a manner otherwise consistent with the Company’s bylaws, until 5:00 p.m. EDT on April 8, 2013, after which no further proposals will be accepted.

About Gleacher & Company

Gleacher & Company, Inc. (NAS: GLCH) is an independent investment bank that provides corporate and institutional clients with strategic and financial advisory services, including merger and acquisition, restructuring, recapitalization, and strategic alternative analysis, as well as capital raising, research based investment analysis, and securities brokerage services. For more information, please visit www.gleacher.com.

Forward Looking Statements

This press release contains “forward-looking statements.” These statements are not historical facts but instead represent the Company’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company’s control. The Company’s forward-looking statements are subject to various risks and uncertainties, including the conditions of the securities markets, generally, and demand for the Company’s services within those markets and other risks and factors identified from time to time in the Company’s filings with the Securities and Exchange Commission. It is possible that the Company’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in its forward-looking statements. You are cautioned not to place undue reliance on …read more
Source: FULL ARTICLE at DailyFinance

Wesco Aircraft Announces Board Member Resignation

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Wesco Aircraft Announces Board Member Resignation

VALENCIA, Calif.–(BUSINESS WIRE)– Wesco Aircraft Holdings, Inc. (“Wesco Aircraft” or the “Company”) (NYS: WAIR) , a leading provider of comprehensive supply chain management services to the global aerospace industry, today announced that Mr. John Jumper has tendered his resignation from the Company’s Board of Directors, effective March 25, 2013. Mr. Jumper sighted the competing demands on his schedule due to his position as Chief Executive Officer and President of SAIC, Inc. (NYS: SAI) .

The Company is in the process of identifying a successor to fill the vacancy. Accordingly, the Board will have eight members until a successor is appointed.

“On behalf of the Board, Management and employees of Wesco Aircraft, I want to express my sincerest thanks for his membership on our Board. His guidance and counsel have been of great value to us. Wesco Aircraft wishes John the best in his future endeavors”, said Randy Snyder, President, Chief Executive and Chairman of Wesco Aircraft.

To learn more about Wesco Aircraft, visit our website at www.wescoair.com.

About Wesco Aircraft

Wesco Aircraft is one of the world’s largest distributors and providers of comprehensive supply chain management services to the global aerospace industry. The Company’s services range from traditional distribution to the management of supplier relationships, quality assurance, kitting, just-in-time delivery and point-of-use inventory management. The Company believes it offers the world’s broadest inventory of aerospace parts, comprised of more than 500,000 different stock keeping units, including hardware, bearings, tools, electronic components and machined parts. Wesco Aircraft has more than 1,200 employees across 41 locations in 12 countries.

Wesco Aircraft
Mark Davidson
Investor Relations
661-802-5090
Mark.Davidson@wescoair.com

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:

The article Wesco Aircraft Announces Board Member Resignation originally appeared on Fool.com.

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Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool …read more
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Walter Energy Cites "Serious Omissions" in Audley Capital Proxy Statement

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Walter Energy Cites Serious Omissions” in Audley Capital Proxy Statement


Emphasizes Ongoing Board and Management Focus on Enhancing Shareholder Value In Letter to Shareholders

BIRMINGHAM, Ala.–(BUSINESS WIRE)– Walter Energy, Inc. (NYS: WLT) (TSX: WLT) today issued a letter to its shareholders raising serious concerns about Audley Capital‘s slate of nominees and highlighting the steps underway by the Company’s Board and new management team to increase shareholder value.

The letter from Chairman Michael T. Tokarz and CEO and Director Walter J. Scheller III highlights “troubling aspects” about Audley’s campaign to replace five of its nine independent directors, including the fact that Audley’s proxy statement contains serious omissions regarding the background and history of its nominees.These omissions include insider trading charges, deficient governance, and misrepresentations of experience.

Walter Energy said the Board’s Nominating and Corporate Governance Committee reviewed the Audley slate and determined that individually and collectively they lack the qualifications and experience to be suitable Board candidates. Walter Energy has a balanced mix of experience and expertise on its Board, and four of the 10 current directors have joined within the past two years.

“We are intensely focused on enhancing shareholder value by reducing debt levels, continuing to reduce SG&A expenses, and identifying alternatives for underperforming assets,” the letter states. “These initiatives are consistent with our objective of optimizing our portfolio and ensuring that each of our operations is cash flow positive and on a clear path to profitability under current market conditions and outlook.”

The letter concludes: “Over the years your Board has created long term value for all stockholders with judgment and integrity. We recognize and accept the challenge of responding to the recent and dramatic decline in met coal pricing that has affected every company in this industry. Your Board and management have taken every reasonable step to respond to that trend and to position the Company for future profitable growth as conditions improve. That work should accrue to your benefit, not that of others. Now is not the time to reverse course.”

Text of March 25 letter from Messrs. Tokarz and Scheller to Walter Energy shareholders:

Dear Fellow Walter Energy Shareholders:

…read more
Source: FULL ARTICLE at DailyFinance