Hong Kong, Sept 9, 2010 - (ACN Newswire) - North Asia Resources Holdings Limited ("NA" or the "Company") (stock code: 61) today announced that it has entered into a subscription agreement (the "Subscription Agreement") with Business Ally Investments Limited (the "Subscriber"), to issue up to US$33,000,000 aggregate principal amount of convertible bonds ("Convertible Bonds") due three years from the date of issue of the Convertible Bonds. The Subscriber is a wholly-owned subsidiary of CCB International Asset Management Limited which is in turn wholly-owned by CCB International (Holdings) Limited ("CCBI"). CCBI is the investment banking flagship established in Hong Kong and wholly-owned by China Construction Bank Corporation.
Under the Subscription Agreement, the Convertible Bonds will be issued in two tranches. The first tranche, US$30,000,000 principal amount of convertible bonds, will be issued on or before 20 September 2010, subject to the fulfillment of the conditions stipulated in the Subscription Agreement.
The Subscriber shall have the right to elect (a) to subscribe all or part of the second tranche of issuance or (b) not to subscribe the second tranche of issuance by serving a notice to the Company at or before 1:00 p.m. on 21 September 2010. If the Subscriber elects to subscribe all or part of the second tranche, up to US$3,000,000 principal amount of convertible bonds will be issued on or before 30 September 2010, subject to the fulfillment of the conditions stipulated in the Subscription Agreement.
The Convertible Bonds are convertible into shares at an initial conversion price of HK$1.70 per conversion share, representing a premium of approximately 18.88% to the closing price of HK$1.43 per share as quoted on The Stock Exchange of Hong Kong Limited on 8 September 2010.
Assuming the Convertible Bonds are fully subscribed and converted, a total of 150,441,175 conversion shares (the "Conversion Shares") will be issued by the Company, representing (i) approximately 19.35% of the Company's existing issued share capital of 777,527,325 shares; and (ii) approximately 16.21% of the Company's issued share capital as enlarged by the issue of the Conversion Shares upon full conversion of the Convertible Bonds. No immediate dilution effect on the shareholding of the existing shareholders is expected. The interest rate is 8.0% per annum on the outstanding aggregate principal amount of the Convertible Bonds.
The estimated net proceeds from the issue of the Convertible Bonds of approximately HK$243 million will be used for acquisition and general working capital of the Group.
Mr. Joseph King, Chairman of NAR, said, "We are very pleased to be able to attract new capital and a quality strategic investor like CCBI and hope to leverage on their group's vast resources and network in China to enhance NAR's competitiveness. The issue of the Convertible Bonds will strengthen our capital base immediately by providing extra funding in enabling the Group to seize the opportunities ahead. Other than keeping a close eye on other possible acquisitions in the future, we also plan to use these funds to facilitate present working capital of the Group, acquisition of iron concession in Mongolia, thereby bringing maximum returns to our shareholders."
About North Asia Resources Holdings Limited
North Asia Resources Holdings Limited (SEHK:OO61)and its subsidiaries entered into the resources mining business in Mongolia in December 2009. Subsequently, the Company acquired two alluvial gold mineral licenses in Mongolia. The Company now owns and operates an iron/copper and an alluvial gold mining project in Mongolia. Please visit www.northasiaresources.com.
Contact: Strategic Financial Relations Limited Heidi So, +852 2864 4829, Email: heidi.so@sprg.com.hk Joanne Lam, +852 2864 4816, Email: joanne.lam@sprg.com.hk Jacky Choi, +852 2114 4953, Email: jacky.choi@sprg.com.hk Jacqueline Yeung, +852 28644937, Email: jacqueline.yeung@sprg.com.hk Fax +852 2804 2789 / 2527 1196
Copyright 2010 ACN Newswire. All rights reserved.
Coast Dental, the Southeast's leading dental provider, announces the grand opening of its 30th practice in Georgia. Coast Dental Newnan is located in Stonewall Square at 20 Baker Road. Coast Dental Newnan is conveniently located in Stonewall Square at 20 Baker Road, at the corner of Col. Joe M. Jackson Medal of Honor Highway. For a limited time, the practice is offering a free exam and x-rays to new patients who do not have dental insurance. Call the office at (678) 854-0169 for offer details and to schedule an appointment. The office is open from 8:30 a.m. to 5 p.m. Monday through Friday and also offers the convenience of online appointment scheduling athttp://www.CoastDental.com/Newnan. Dental emergencies and walk-ins are welcome and more than 200 dental insurance plans are accepted.
(Vocus) September 8, 2010 -- Dr. Carren Russell, the lead general dentist at the Newnan location, provides a full range of comprehensive dental services to adults and children starting at age three. She helps patients get healthy and beautiful smiles by offering dental exams, cleanings, periodontal (gum) therapy, fillings, crowns, bridges, dentures, partials, teeth whitening, veneers, bonding, implant restorations, extractions and root canals. Dr. Russell also offers advanced oral cancer screening exams with Identafi® 3000, the world’s first and only multispectral imaging device for detecting oral cancer, the sixth deadliest form of cancer, at its earliest and most curable stages. More than one-third of adults have not seen a dentist within the past 12 months, according to the U.S. Surgeon General report “National Call to Action to Promote Oral Health”. To encourage people to visit the dentist for the care they need, Coast Dental offers patients access to exclusive programs that make dental care more affordable. In addition to accepting most dental insurance plans, Coast Dental offers Smile Plus®, a discount dental plan for patients without dental insurance. Patients who join Smile Plus save an average of 30 to 60 percent annually on dental services. Coast Dental Newnan is offering a free one-year Smile Plus membership, a $75 savings. Contact the office for additional details. Coast Dental also offers patient financing and payment plans to qualified applicants. About Dr. Carren Russell Dr. Russell earned her dental degree from Howard University College of Dentistry in Washington, D.C., where she was awarded the National Dental Association Colgate-Palmolive Scholarship. Dr. Russell augmented her dental school training with a general practice residency program at St. Elizabeths Hospital in Washington, D.C. She earned her undergraduate degree in chemistry with a minor in biology at Xavier University in New Orleans. Dr. Russell enjoys giving back to the community through volunteer work. She attends a variety of continuing education courses to enhance her skills and stay current on new technologies and treatments. She is affiliated with the American Academy of General Dentistry and the American Dental Association. About Coast Dental Coast Dental is the Southeast’s leading provider of quality dental care with 120 affiliated dental practices in Florida and Georgia. The dentists and hygienists are employees or independent contractors of Coast Dental, P.A., Coast Florida, P.A., or Coast Dental of Georgia, P.C. Coast Dental Services Inc. is a management company that provides comprehensive, non-clinical business and administrative services to its affiliated dental practices. For more information, visit http://www.CoastDental.com. About Smile Plus® Smile Plus® is a discount dental plan, not a registered insurance plan. Smile Plus is accepted only at Coast Dental practices and cannot be used in combination with dental insurance or other discount dental plans. The offer for free enrollment expires August 28, 2011. Patients must enroll and receive treatment at the Newnan practice to be eligible. The discount applies only to the first year enrollment and is available only in the Newnan office. Smile Plus memberships expire one year from the date of enrollment. Smile Plus is a registered trademark of Coast Dental Services Inc.
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Read the full story at http://www.prweb.com/releases/CoastDental/Newnan/prweb4482564.htm.
Greg McCoy, local Realtor® and author of The House Hunt – A Guide To Buying Your First House was interviewed for a story on New Home Buyers written by Dan Rafter, online journalist and blogger for ChicagoNow, a website operated by the Chicago Tribune.
Chicago, IL (Vocus) September 8, 2010 -- Dan Rafter, online journalist and blogger with ChicagoNow — a website operated by the Chicago Tribune — writes about all aspects of residential real estate. Rafter recently interviewed central Illinois Realtor® and author Greg McCoy and featured McCoy and his book "The House Hunt – A Guide to Buying Your First House" on Rafter’s blog “Real Life Real Estate”. The interview was published on August 18, 2010 and can be found at: http://www.chicagonow.com/blogs/real-life-real-estate/2010/08/first-time-homebuyers-still-face-challenges.html
Author and local REALTOR® Greg McCoy’s recently published book "The House Hunt – A Guide to Buying Your First House" is an informative 77-page volume written in a concise, easy-to-read format that helps first-time home buyers prepare and know what to expect from the home-buying experience.
More about author Greg McCoy Author Greg McCoy is a full-time, licensed REALTOR® with a passion for working with first-time homebuyers. His recently-published book "The House Hunt – A Guide to Buying Your First House" is available available locally in I Know You Like a Book, (located at 4707 N. Prospect Road in Peoria Heights), on his website at http://www.GregMcCoy.com or by contacting him at (309) 687-4826.
McCoy is associated with REMAX Unlimited, located at 3622 N. Knoxville Ave in Peoria, IL. He holds the designation of GRI (Graduate REALTOR® Institute), as well as that of e-PRO, which indicates expertise in use and application of technology. McCoy began his career in real estate in 2002. Prior to that, he worked as a manufacturing engineer for 30 years, living for four of those years in Piracicaba, Brazil. McCoy is married to Betty McCoy and together they have three married children and several grandchildren.
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Read the full story at http://www.prweb.com/releases/2010/09/prweb4482554.htm.
INTERLAKEN, Switzerland, Sept. 9 /PRNewswire/ -- The CBOE Futures Exchange (CFE) today announced that on September 28, it plans to introduce trading in its first options on a futures contract – Weekly options on VIX futures (ticker symbol - VOW), subject to regulatory approval. All key pieces of the VIX product suite will now be available on CBOE's electronic technology platform, CBOEdirect – cash-settled CBOE Volatility Index (VIX) options, VIX futures, options on volatility-related exchange traded notes, and, later this month, Weekly options on VIX futures.
(Logo: http://photos.prnewswire.com/prnh/20100707/CBOELOGO-b)
(Logo: http://www.newscom.com/cgi-bin/prnh/20100707/CBOELOGO-b)
"The addition of Weekly options on VIX futures, which incorporates a version of the popular 'Weeklys' expirations on security options, brings an added dimension to CBOE's suite of volatility products. It also underscores our ability to seamlessly support multiple products and their unique specifications on a single platform," CBOE President and COO Edward Joyce, said. "We've taken the best features of Weeklys expirations, further refined them for use with options on VIX futures, and created another way for customers to manage volatility."
"We expect that Weekly options on VIX futures will attract sophisticated investors, traders and institutions that are looking for more ways to construct unique exposures to volatility over a shorter timeframe," said CFE Managing Director Andrew Lowenthal. "We see the contract being used in a number of ways – as a shorter-term play on implied volatility that's independent of the direction and level of stock prices, to hedge equity returns and to diversify portfolios."
Lowenthal noted that market participants should recognize differences between currently traded "Weeklys" on individual equity options, index options and ETF options classes and the soon-to-be-introduced Weekly options on VIX futures.
- Weekly options on VIX futures will have four consecutive contracts with weekly expirations, and CFE will add a new contract when the near-term contract expires; investors can select a contract with either one, two, three or four weeks to expiration, giving added flexibility to choose a desired timeframe. (Current Weeklys on security options begin trading on Thursdays and expire the following Friday, approximately a one-week timeframe.)
- Exercise for Weekly options on VIX futures will be American style, with exercise allowable on any day up to and including the expiration date.
- Expiration for Weekly options on VIX futures will be on Fridays (unless a CFE holiday), and will never correspond with VIX futures expiration dates (i.e., the Wednesday that is 30 days prior to an SPX option expiration date).
- Settlement for Weekly options on VIX futures will feature physical settlement – one futures contract for each expiring options contract.
CFE, launched in 2004, currently offers futures on four contracts, including: the CBOE Volatility Index (VIX), CBOE mini-VIX (VM), CBOE S&P 500 3-Month Variance (VT) and CBOE S&P 500 12-Month Variance (VA). For the first eight months of 2010, CFE trading volume totaled more than 2.2 million contracts, compared with just under 500,000 contracts during the same period in 2009, a 348-percent year-over-year volume increase.
Product Specifications Overview: | ||
Weekly Options on VIX Futures | ||
Contract Size | One (1) VIX futures contract | |
Trading Hours | 8:30 a.m. – 3:15 p.m., Chicago time | |
Ticker Symbols | VOW1 – Week 1 | |
VOW2 – Week 2 | ||
VOW3 – Week 3 | ||
VOW4 – Week 4 | ||
VOW5 – Week 5 (if needed) | ||
Strike Price Intervals | May be no less than $0.50 | |
Minimum Price Intervals | 0.05 points | |
Dollar Value Per Tick | $50.00 per contract | |
Exercise Style | American – any day up to and including the expiration date | |
Expiration Date/Last Day to Trade | Week 1 -- 1st Friday of contract month | |
Week 2 -- 2nd Friday of contract month | ||
Week 3 -- 3rd Friday of contract month | ||
Week 4 -- 4th Friday of contract month | ||
Week 5 -- 5th Friday of contract month (if needed) | ||
Delivery | Exercise of Weekly VIX Futures Options results in delivery of VIX futures with an expiration date closest to, but after the expiration date of the options contract. | |
More information on CFE's Weekly options on VIX futures, including full contract specifications, is available at http://cfe.cboe.com/Products/. For additional information on all CBOE volatility products, see www.cboe.com/VIX.
CFE, a wholly-owned subsidiary of CBOE Holdings, Inc. (Nasdaq: CBOE), offers an all-electronic, open-access market model, with traders providing liquidity and making markets. CFE trades are cleared by the AAA-rated Options Clearing Corporation (OCC). CBOE Futures Exchange is regulated by the Commodity Futures Trading Commission (CFTC).
CBOE®, Chicago Board Options Exchange®, CBOEdirect®, CBOE Volatility Index® and VIX® are registered trademarks and SPX and Weeklys are servicemarks of Chicago Board Options Exchange, Incorporated. CFE® is a registered trademark and CBOE Futures Exchange(SM) is a service mark of CBOE Futures Exchange, LLC. S&P® and S&P 500® are registered trademarks of the McGraw-Hill Companies, Inc. and are licensed for use by the Chicago Board Options Exchange, Incorporated pursuant to a License Agreement.
CBOE-EF
This press release contains statements which may be considered forward-looking statements within the meaning of the Securities Exchange Act of 1934, including, without limitation, statements regarding operating strategies, future plans and financial results. Forward-looking statements may be accompanied by words such as "anticipate", "believe", "could", "estimate", "expect", "forecast", "intend", "may", "possible", "predict", "project" or similar words, phrases or expressions. Neither CFE nor CBOE Holdings, Inc. undertakes any obligation to update the information contained herein, which speaks only as of the date of this press release. More detailed information about factors that may affect CFE's or CBOE Holdings, Inc.'s performance may be found in CBOE Holdings, Inc.'s filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2010 under the heading "Forward-Looking Statements" and/or "Risk Factors". Such discussions regarding risk factors and forward-looking statements are incorporated herein by reference.
SOURCE CBOE Futures Exchange, LLC
ALMELO, NETHERLANDS -- (MARKET WIRE) -- 09/09/10 -- TenCate Advanced Armor USA in Newark (Ohio, US) is continuing its strong presence in the USA military vehicle market as it has received additional vehicle armoring contracts valued at $ 18.5 million, that will be delivered to two major military vehicle producers and the United States Army during the balance of 2010.
The armoring kits for the United States Army utilize state of the art composite armor technology of TenCate to provide the lightest, most efficient armour possible for these demanding applications. According to Scott Unger, Group President at TenCate Advanced Armor USA: 'TenCate is proud to be chosen to provide these critical armor systems for the American troops in theatre, as these systems assure they have the best and most advanced armor protection for the job at hand'.
TenCate Advanced Armor USA is part of the global Aerospace and Armor group of TenCate, which also has operations in The Netherlands, France, Denmark, United Kingdom and India. Scott Unger adds: "TenCate is worldwide an armor technology leader that can support its customers on a global basis. TenCate specializes in the production of lightweight, highly protective composite and ceramic- composite armor systems for use in vehicle, aircraft, watercraft / ship and personal protection applications".
Due to the sensitivity of the information, no further details will be provided.
Royal Ten Cate Almelo, The Netherlands, Thursday 9 September 2010 For further information: Royal Ten Cate (TenCate) Drs. F.R. Spaan, Director Investor Relations & Corporate Development Telephone: +31 (0)546 544 338 Mobile: +31 (0)6 12 96 17 24 E-mail: f.spaan@tencate.com Internet: www.tencate.com TenCate Advanced Armor USA Steve Simmerer, Vice President of Sales & Marketing Mobile: +1 (810) 790 2801 E-mail: s.simmerer@tencate.com Internet: www.tencateadvancedarmour.com
TenCate Advanced Armour is a worldwide leading supplier of a wide range of products for protection. TenCate Advanced Armour develops and produces a portfolio of composite and ceramic materials and designs armour solutions for the protection of police, army, air force, navy and civilian service personnel, vehicles and vessels. TenCate Advanced Armour has plants in Europe and North-America.
Royal Ten Cate (TenCate) is a multinational company which combines textile technology with related chemical processes and material technology in the development and production of functional materials with distinctive characteristics. Products of TenCate are sold worldwide. Systems and materials from TenCate come under four areas of application: safety & protection, space & aerospace, infrastructure & the environment, and sport & recreation. TenCate occupies leading positions in protective fabrics, composites for space and aerospace, antiballistics, geosynthetics and synthetic turf. TenCate is listed on the NYSE Euronext (AMX).
[HUG#1443328]
Press release as PDF: http://hugin.info/130798/R/1443328/387491.pdf
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Koninklijke Ten Cate NV via Thomson Reuters ONE
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