WHO Offers Update on Ebola Outbreak for Aug. 17 - 18 (TKMR) (BCRX) (NLNK) Aug 21, 2014 09:29AM

Tekmira Pharmaceuticals (Nasdaq: TKMR), NewLink Genetics (Nasdaq: NLNK), BioCryst Pharmaceuticals (Nasdaq: BCRX), NanoViricides, Inc. (NYSE: NNVC), and Sarepta Therapeutics, Inc. (Nasdaq: SRPT) are on watch today following a recent Ebola update from the World Health Organization (WHO):

Epidemiology and surveillance

Between 17 and 18 August 2014, a total of 221 new cases of Ebola virus disease (laboratory-confirmed, probable, and suspect cases) as well as 106 deaths were reported from Guinea, Liberia, Nigeria, and Sierra Leone.

Health sector response

WHO continues to engage in high-level communication efforts with affected countries, companies and organizations doing business in and from Africa, and national and global leaders. Currently, some companies have taken the decision to suspend services to the affected countries. This includes airlines and shipping companies. As a result of these decisions, countries are beginning to experience supply shortages, including fuel, food, and basic supplies. WHO is working with the UN World Food Programme to ensure adequate food and supplies, but calls on companies to make business decisions based on scientific evidence with regard to the transmission of Ebola virus.

In the current outbreak, the majority of Ebola virus disease cases are a result of human-to-human transmission and failure to apply appropriate infection prevention and control measures in home care, some clinical settings, and in burial rituals. It is important to understand that EVD is not an airborne disease. Individuals may become infected as a result of contact with the bodily fluids (vomit, diarrhoea, sputum, blood, etc.) from persons who are confirmed to have EVD or who have died from EVD. Companies bringing goods and services to the affected countries are at low risk for exposure to EVD and WHO, under the International Health Regulations, encourages companies and organizations to continue providing these necessary supplies.

Countries around the world continue to engage in active surveillance for cases of EVD. Reports have been received by WHO of suspected cases and systematic verification is underway in a number of countries to confirm whether these are actual EVD cases. Overall, these reports are a positive sign that surveillance is working and countries are stepping up their preparedness to respond. As of today, no cases have been confirmed outside Guinea, Liberia, Nigeria, or Sierra Leone.

A high-level delegation from WHO is currently in the affected countries, working with the national authorities and partners to adapt strategic operations response plans. Meetings are planned with leaders in Liberia and Sierra Leone, where transmission continues to be high.

WHO does not recommend any travel or trade restrictions be applied except in cases where individuals have been confirmed or are suspected of being infected with EVD or where individuals have had contact with cases of EVD. (Contacts do not include properly-protected health-care workers and laboratory staff.) Temporary recommendations from the Emergency Committee with regard to actions to be taken by countries can be found at:

Disease update

Confirmed, probable, and suspect cases and deaths from Ebola virus disease in Guinea, Liberia, Nigeria, and Sierra Leone, as of 18 August 2014

New (1)ConfirmedProbableSuspectTotals
Sierra Leone
1. New cases were reported between 17 and 18 August 2014.

The total number of cases is subject to change due to ongoing reclassification, retrospective investigation, and availability of laboratory results. Data reported in the Disease Outbreak News are based on official information reported by Ministries of Health.

Everyware Global (EVRY) Unit to Unload U.K. Business Aug 21, 2014 09:22AM

Everyware Global (NASDAQ: EVRY) announced that its wholly-owned subsidiary Oneida International has entered into an agreement to sell its United Kingdom business to HUK 54 Limited. EveryWare retains all rights to the brands ONEIDA, Anchor Hocking and Sant' Andrea.

Sam Solomon, Chief Executive Officer of EveryWare, stated, "This transaction represents another step toward building a profitable future for EveryWare. We are confident that there remain long-term opportunities to build and grow our brands internationally. Our energies are currently focused on solidifying our core North American operations, and this sale ensures that our resources are dedicated to those initiatives."

For additional detail on the transaction, please refer to the Form 8-K filed today with the Securities and Exchange Commission.

Cover-All Technologies (COVR) Reports Society Insurance Deployment Aug 21, 2014 09:22AM

Society Insurance (Society), a multi-line commercial property and casualty (P&C) insurance company specializing in niche business, and Cover-All Technologies (NYSE: COVR), announced today that Society is now live with Cover-All Policy for Workers Compensation including rating, quoting, underwriting, policy lifecycle management, document generation/management, and program-based underwriting, bringing exceptional value to their policyholders and expanding agency force.

Society selected Cover-All Policy as part of their policy modernization initiative to leverage Cover-All’s pre-built bureau products, including Commercial Auto, Workers Compensation, General Liability, Businessowners Policy (BOP) and Commercial Umbrella product on the comprehensive and modern Cover-All Policy Administration platform.

“Society’s primary goal with our core policy system transformation project is to modernize our policy platform much faster and under a more aggressive budget than what is generally experienced in the industry for such projects,” said Tom Konop, vice president of Information Systems at Society Insurance. “We selected Cover-All to partner with us to achieve these goals because we found Cover-All Policy to have a unique combination of significant in-depth bureau functionality, full policy lifecycle functionality without the reliance on third-party vendors, flexible and simple architecture to configure insurance products based on our unique needs, the ability to stay current with bureau updates, as well as the ability to receive product enhancements after go-live without needing to invest in expensive future upgrade projects. We are very pleased with our choice in Cover-All and have already gone live with Commercial Auto and Workers Comp lines this year with our small joint project team, and look forward to completing our implementation with Businessowners (BOP), General Liability, and Commercial Umbrella soon.”

“We are pleased to be able to exceed the expectations of Society Insurance in implementing a high quality solution so quickly and efficiently with a small project team,” said Manish Shah, president and CEO, Cover-All. “We attribute the success of the project to Society having a strong commitment to the project, the significant functional depth of Cover-All’s pre-built bureau products, and Cover-All’s customer centric implementation team. This is yet another proof of Cover-All Policy’s product superiority and our organization’s customer-centric culture.”

CFIUS Will Conduct Second-Phase Investigation into Measurement Specialties (MEAS), TE Connectivity (TEL) Deal Aug 21, 2014 09:16AM

As previously disclosed, on June 18, 2014, Measurement Specialties, Inc. (Nasdaq: MEAS), TE Connectivity Ltd (NYSE: TEL) and Wolverine-Mars Acquisition, Inc., a wholly owned indirect subsidiary of TE (“Merger Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”). Upon the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation and a wholly owned indirect subsidiary of TE (the “Merger”).

On August 19, 2014, the Committee on Foreign Investment in the United States (“CFIUS”) notified the Company and TE that it will conduct a second-phase, 45-day investigation of the Merger and that such review will be completed on or before October 3, 2014.

Consistent with prior disclosure, TE and the Company do not believe that the transactions contemplated by the Merger Agreement present national security considerations requiring mitigation and continue to expect such transactions to close in the 2014 calendar year.

Platinum Group Metals Ltd. (PLG) Receives Favorable Outcome in Wesizwe Arbitration Aug 21, 2014 09:13AM

Platinum Group Metals Ltd. (AMEX: PLG) announces that on August 20th an award in the binding arbitration with respect to the calculation of dilution to the ownership of Wesizwe Platinum Limited ("Wesizwe"), through its wholly owned subsidiary, Africa Wide Mineral Prospecting and Exploration (Pty) Ltd. ("Africa Wide"), in the operating company of the WBJV Project 1 Platinum Mine has been completed and delivered to the Company. The arbitrator ruled in favour of Platinum Group on all matters in contention and has ordered that costs are to be paid by Wesizwe.

The favourable award has determined that Africa Wide's shareholding, in the operating company, Maseve Investments 11 (Pty) Ltd. ("Maseve"), falls to be reduced to 21.2766% as a result of Africa Wide's failure to fund its R 213.14 million share of an approved cash call in October 2013.

Based on the dilution formula in the Maseve shareholders' agreement, as confirmed in the arbitration, the Company calculates that Wesizwe's ownership in Maseve will be further diluted to 17.0985% (approximately 17.10%) as a result of Africa Wide's failure to fund its R 234.6 million share of a second approved cash call in February 2014.

Platinum Group expects its shareholding, through its wholly owned subsidiary Platinum Group Metals RSA (Pty) Ltd. ("PTM RSA"), in Maseve will increase to approximately 82.90% based on the two missed cash calls by Africa Wide. Platinum Group is now able to move forward with plans for transferring diluted project points to a qualified black economic empowerment company and to move forward with its final project finance plans for the ongoing mine build at the WBJV Project 1 Platinum Mine.

The details of the arbitrator's award are as follows:

--  The shareholding of Africa Wide in Maseve will fall to 21.2766% as a result of the initial cash call that gave rise to the arbitration and PTM RSA's shareholding will be increased to 78.7234%;
-- Africa Wide is directed to take all steps necessary in co-operation with Platinum Group to effect the award, including increasing the authorized capital of Maseve, placing all unissued authorized shares under the control of Maseve's board of directors and authorizing any director of Maseve to take the steps necessary to issue shares to PTM RSA to give effect to the award; and
-- Africa Wide is ordered to pay PTM RSA's costs, including the costs of senior counsel and the costs of the arbitration, on the High Court scale.

Platinum Group CFO Frank Hallam stated, "The arbitration in South Africa was handled in a very professional manner and in accordance with established legal rules. We are pleased that a strong and reliable framework for the resolution of commercial disputes is available to companies such as ours who are operating in South Africa."

PTM RSA will now move forward to implement the arbitration award and will utilize the ruling to effect the further dilution of Africa Wide to a 17.10% shareholding in Maseve based on the second cash call missed by Africa Wide in February 2014. Platinum Group will recover its costs from Africa Wide in accordance with the arbitration award.

More Corporate News

View Older Stories

Aug 21, 2014 09:10AM Baxter Int'l (BAX) Reports BAX 855 Met Primary Endpoint in Phase 3
Aug 21, 2014 09:06AM BofA (BAC) Enters $16.7B Settlement with DoJ Over RMBS Investigation
Aug 21, 2014 09:03AM Sarepta Therapeutics (SRPT), Flagship Biosciences Enter Agreement to Digitally Automate Dystrophin Measurements
Aug 21, 2014 09:00AM Capstone Turbine (CPST) Reports Order for Seventy Five C65 microturbines
Aug 21, 2014 08:48AM Opera Will Become Default Browser on Microsoft (MSFT) Feature, Asha Phones
Aug 21, 2014 08:35AM AMSC (AMSC) Reports $15M Follow-On Order From Inox Wind, Reiterates FY Guidance
Aug 21, 2014 08:34AM American Superconductor (AMSC) Announces $15M Wind Turbine ECS Follow-On Order
Aug 21, 2014 08:18AM UBIC (UBIC) Awarded Patent for Predictive Coding in Japan
Aug 21, 2014 08:13AM HG Vora Capital Management Files 13D on Town Sports (CLUB)
Aug 21, 2014 08:08AM Wabtec (WAB) Acquires Dia-Frag; No Terms
Aug 21, 2014 08:02AM CACI International (CACI) Awarded Prime Position on $37 Million Navy Contract
Aug 21, 2014 07:58AM Ampio Pharma (AMPE) Reports Delay in STEP Study Analysis; Cites Exposure to Lower Temps
Aug 21, 2014 07:45AM Yingli Green Energy (YGE) Enters 2-MW Module Supply Agreement with Japan Benex
Aug 21, 2014 07:35AM Auxilium Pharma (AUXL) Reports Statistically Significant Data from Phase 2a Study Of CCH
Aug 21, 2014 07:34AM Supernus (SUPN) Reports Receipt of Paragraph IV for Generic Trokendi XR (ACT)
Aug 21, 2014 07:18AM Covidien (COV) Receives FDA Approval for PTFE Coating on Pipeline Embolization Device
Aug 21, 2014 07:13AM Penn West Petroleum (PWE) Obtains Default Waivers from Unsecured Noteholders
Aug 21, 2014 07:11AM Compugen Ltd (CGEN) Reacquires Certain Rights to Pipeline Program Candidates from Baize
Aug 21, 2014 07:08AM Royal Philips (PHG) FDA Granted 510(k) Clearance for TAVI Precision Treatment Planning Application
Aug 21, 2014 07:05AM Advanced Emissions (ADES) Says Certain Financials Should Not be Relied Upon Following Review
Aug 21, 2014 07:01AM BioLineRx (BLRX) Receives NoA from USPTO Covering BL-7010
Aug 21, 2014 06:21AM Goodrich Petroleum (GDP) Declares Preferred Stock Dividends
Aug 21, 2014 06:13AM Dollar General (DG) Sends Letter to Family Dollar (FDO); Sees Bid as 'Superior Proposal'
Aug 21, 2014 06:12AM Illumina (ILMN) Enters Patnerships for Next-Gen NGS-Based Oncology Test System (SNY)
Aug 20, 2014 05:48PM Noranda Aluminum (NOR) Reports Missouri Public Service Has Denied Request for a Lower Electricity Rate
Aug 20, 2014 05:20PM Hercules Offshore (HERO) Provides August Fleet Status Report Update
Aug 20, 2014 04:12PM CST Brands (CST) to Acquire Nice N Easy Grocery, No Terms
Aug 20, 2014 04:04PM UPS (UPS) Store Reports Data Breach
Aug 20, 2014 03:35PM GlaxoSmithKline plc (GSK) Receives FDA Approval of Arnuity Ellipta as Asthma Maintenance Treatment
Aug 20, 2014 03:20PM UBS O'Connor Unloads Majority of U.S. REIT Holdings (MAA) (AVB) (ELS)
Aug 20, 2014 02:02PM Tekmira Pharmaceuticals (TKMR) Reports Positive Data Highlighted in Scientific Publication
Aug 20, 2014 01:50PM Intel (INTC), Unity Technologies Enter Android-Focused Collaboration
Aug 20, 2014 01:37PM Exelis, Inc. (XLS) Reports $517M Army Contract
Aug 20, 2014 12:28PM NASDAQ OMX Group (NDAQ) Affirms Halting Zoom Technologies (ZOOM)
Aug 20, 2014 12:26PM Alcatel-Lucent (ALU) Reports Repayment of $1.75B Credit Facility
Aug 20, 2014 12:02PM Monsanto (MON) Affirms Guidance into Whistle Stop Event
Aug 20, 2014 11:31AM Lannett (LCI) Acquires ANDAs for Estradiol Tabs, Selegiline Hydrochloride Caps
Aug 20, 2014 11:29AM Russia Closes Several McDonald's (MCD) on Consumer Safety Issues - Bloomberg
Aug 20, 2014 11:03AM 3-D Printers on Watch; Gartner Sees Consumer-Level Adoption at Least Five Years Away (VJET) (DDD) (SSYS)
Aug 20, 2014 10:34AM Twitter (TWTR) Adds New Feature to Timeline
Aug 20, 2014 10:10AM Lannett (LCI) Does Not Expect Digoxin Prescriptions to be Significantly Impacted by JACC Study
Aug 20, 2014 09:40AM PETA Buys More SeaWorld (SEAS) Shares
Aug 20, 2014 09:32AM Barnes & Noble (BKS), Samsung Debut New Galaxy NOOK Tablet
Aug 20, 2014 09:21AM Cloud Peak Energy (CLD) Pays $45M to Termination of Tax Receivable Agreement with Rio Tinto
Aug 20, 2014 09:10AM Caterpillar (CAT) Retail Sales of Machines Fell 9% in July
Aug 20, 2014 09:05AM Vringo (VRNG) Seeks En Banc Review of Decision in I/P Engine Case
Aug 20, 2014 08:57AM Lowe's Cos. (LOW) Sees 2014 Share Repurchases of $3.4B, Capex of $1.2B
Aug 20, 2014 08:48AM Highpower International (HPJ) Gians After Shipping Smartwatch Related Battery Products
Aug 20, 2014 08:47AM Media General (MEG), LIN Media (LIN) Amend Merger Agreement, Postpone Special Meeting
Aug 20, 2014 08:43AM Revolution Lighting (RVLT) Enters $25M Revolving Facility
View Older Stories