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Seanergy Maritime Corp. (AMEX: SRG | Quote | Chart | News | PowerRating) closed at $9.88 Thursday, trading 342,100 shares.
Company News- July 18, 2008: Seanergy Maritime Corp. Schedules August 14, 2008 for Special Meeting of Shareholders
Seanergy Maritime Corp. ("Company") (AMEX: SRG | Quote | Chart | News | PowerRating) (AMEX: SRG.U) (AMEX: SRG.W) announced earlier today that it has set August 14, 2008 as the date for its special meeting of shareholders to vote upon a proposal to approve the acquisition by Seanergy Merger Corp., the wholly owned subsidiary of the Company, of six dry bulk vessels from affiliates of the Restis family (including a newly built vessel and a vessel under construction), as contemplated in the Master Agreement dated May 20, 2008, and other related matters.
Seanergy previously announced that the record date for the determination of shareholders entitled to notice of and to vote at the special meeting is July 25, 2008.
About Seanergy Maritime Corp.
Seanergy Maritime Corp. is a Business Combination Company, or BCC. A BCC is a blank check company formed for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition or other similar business combination, an unidentified operating business.
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VistaPrint Limited (NASDAQ: VPRT | Quote | Chart | News | PowerRating) closed at $28.87 Thursday, trading 762,600 shares.
Company News- July 18, 2008: Millions of Free Logos Designed by VistaPrint Customers
VistaPrint Limited (NASDAQ: VPRT), the small business marketing company, earlier today announced the launch of a new version of the company's popular free logo design tool. With the updated tool, customers can design a high-impact, full-color, custom logo in just minutes then see it immediately on a wide variety of products. VistaPrint's updated logo tool also has a redesigned flow and more than 340 new images bringing the total number of images available to more than 540. Since VistaPrint began offering logos back in 2006, millions of customers have designed logos for free using them in hundreds of thousands of products ranging from business cards to Web sites.
Imagine designing a custom logo that matches your business that is immediately available on all of your marketing products including business cards, brochures, postcards, car door magnets, letterhead, envelopes, T-shirts and even a Web site in just minutes. This may seem like a dream for small business customers strapped for time and resources, but for VistaPrint customers, it's a reality.
"Logos offer small businesses a professional look. The trouble is, traditional logo design and printing can be costly," said Ari Sussman, product marketing manager at VistaPrint. "VistaPrint's updated logo tool empowers small businesses to design a custom logo for free, and then build a cost-effective, corporate identity kit that puts forth the professional look needed to compete." Designing a free, custom logo at www.vistaprint.com is easy and only takes minutes. Customers simply type in the name of the company and then choose from design options that range from images to text effects. Once the basic logo is determined, customers can customize the color, font and basic layout of the logo then automatically see it on 20 different products. For those that wish to download their logo, a package is available with color and black and white versions for just $24.95. Putting a logo on a VistaPrint product is free. For more information go to www.vistaprint.com/logotool1.
VistaPrint offers small businesses peace of mind by providing everything they need to market their businesses. Products include high-quality and low-cost printed products such as postcards, address labels, brochures, and calendars; promotional apparel including hats and custom T-shirts; and marketing services such as copywriting, design and postcard mailing.
About VistaPrint
VistaPrint Limited (NASDAQ: VPRT | Quote | Chart | News | PowerRating) is the small business marketing company having served over 13 million customers worldwide. VistaPrint offers small businesses everything they need to market their business with brand identity and promotional products, marketing services and electronic marketing solutions. A global company, VistaPrint employs more than 1,300 people and operates 19 localized Web sites serving over 120 countries around the world. A broad range of marketing products and services are available online at www.vistaprint.com. VistaPrint's products are satisfaction guaranteed.
VistaPrint, the VistaPrint logo and VistaPrint.com are registered trademarks of VistaPrint. All other brand and product names appearing on this announcement may be trademarks or registered trademarks of their respective holders.
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Grupo TMM, S.A.B. (NYSE: TMM | Quote | Chart | News | PowerRating) (BMV: TMM A) closed at $1.15 Thursday, trading 312,400 shares.
Company News- July 18, 2008: Grupo TMM Comments on Independent Auditors' Report on Company's Consolidated Financial Statements for Year Ended 2007
Grupo TMM, S.A.B. (NYSE: TMM | Quote | Chart | News | PowerRating) (BMV: TMM A) ("TMM"), a Mexican intermodal transportation and logistics company, announced earlier today it has commented on its Auditors' Report on the Company's Consolidated Financial Statements for the year ended December 31, 2007, included in its Annual Report on Form 20-F for the period, filed with the SEC on June 30 of this year.
The Auditors' Report states that "The continuation of the Company as a going concern is dependent upon the Company's ability to meet its financing requirements on a continuing basis, to comply with its present financing arrangements, and to succeed in its future operations." However, the Report also stated that "The Company's management has taken the following steps to improve its operating and financial results: a) the acquisition of operating assets for the logistics segment, b) the acquisition of a new fleet of new vessels to replace an aging fleet of leased vessels, c) an organizational restructuring to reduce administrative expenses, and d) the commencement of a financing project to replace certain debt with Trust Certificates having more favorable conditions and interest rates.
The Company's management believes that its 2008 business plan considers a significant increase in income and generation of cash from operations. These increases would be derived from business levels and assets that are substantially in place as of the end of the Company's fiscal year 2007. Company's management also believes that the aforementioned will permit the Company to continue on its positive trend of increasing efficiency and coverage ratios and realizing its current strategy of creating a healthy and competitive financial structure for the Company in the medium term." TMM reported at December 31, 2007, cash provided by operating activities of $37.2 million, and of $15.6 million in the first quarter of 2008. Cash flow from operations had not been positive since 2004.
Also, as part of TMM's strategy to grow with the acquisition of profitable assets with contracted revenues, the Company has completed a Trust Certificates Program for up to 9.0 billion pesos through three tranches. This Trust Certificate facility is non-recourse to the Company and is tied to the useful life of the vessels purchased with the proceeds. The first and third tranches were rated AA and the second tranche was rated AA- by Fitch Ratings, reflecting TMM's continued quality operating performance, increased demand for maritime transportation services and the Mexican Navigation Law principles.
This Program is the largest placement of long-term debt tied to the useful life of transportation assets that has been issued in the Mexican Market, setting a milestone for this kind of transaction in Mexico.
About Grupo TMM, S.A.B.
Headquartered in Mexico City, TMM is a Latin American intermodal transportation Company. Through its branch offices and network of subsidiary companies, TMM provides a dynamic combination of ocean and land transportation services. Visit TMM's web site at www.grupotmm.com. The site offers Spanish/English language options.
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Energy Infrastructure Acquisition Corp. (AMEX: EII | Quote | Chart | News | PowerRating) closed at $10.08 Thursday, trading 1,363,100 shares.
Company News- July 18, 2008: Energy Infrastructure Acquisition Corp. Announces Termination of Share Purchase Agreement With Vanship Holdings; Intention to File Proxy for Dissolution and Liquidation
Energy Infrastructure Acquisition Corp. (AMEX: EII | Quote | Chart | News | PowerRating) (AMEX: EIIW) ("Energy Infrastructure" or the "Company") earlier today announced that as a result of the failure by the Company and Vanship Holdings Limited to agree on revised transaction terms, the Company's wholly-owned subsidiary, Energy Infrastructure Merger Corporation ("Energy Merger"), was not able to complete its Registration Statement on Form F-4 and the Company was unable to timely distribute its proxy statement to the Company's stockholders in advance of the planned Special Meeting of Stockholders, resulting in cancellation of the Special Meeting. The parties are considering termination of the Share Purchase Agreement among the Company, Energy Merger and Vanship Holdings, pursuant to which Energy Merger was to acquire nine companies from Vanship.
Pursuant to the terms of its certificate of incorporation, if the Company has not completed a business combination by July 21, 2008, the Company's directors and officers will take all action necessary to dissolve the Company and liquidate the trust fund, which contains the proceeds of the Company's initial public offering. Accordingly, the Company will shortly begin the process of liquidating and dissolving itself in accordance with its certificate of incorporation and applicable law. The Company plans to set a date for a Special Meeting of Stockholders to vote on its plan of dissolution and liquidation and prepare a proxy statement for distribution to stockholders in connection with the matters to be voted on at the Special Meeting. The Company will notify stockholders of the date of the Special Meeting when it has been set by the Company's Board of Directors.
About Energy Infrastructure
Energy Infrastructure is a blank check company that was formed for the specific purpose of consummating a business combination. Energy Infrastructure raised net proceeds of approximately $209.3 million, after partial exercise of the underwriter's over-allotment option, through its initial public offering consummated in July 2006.
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