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  • Quarterly Dividend Declared By Arden Group, Inc. (ARDNA) After 3Q Loss
    Arden Group, Inc. (NASDAQ:ARDNA) announced that its Board of Directors has declared a regular quarterly dividend of 25 cents per share of Class A Common Stock payable on January 20, 2011 to stockholders of record as of the close of business on December 31, 2010. As of October 2, 2010, there were 3,161,098 Class A shares outstanding.

    Arden Group Inc., (ARDNA) has also reported that its third quarter net income plunged 26 percent, as the economy and competition hurt sales.

    The company earned $3.5 million, or $1.09 per share, in the three months that ended Oct. 2. That compares to net income of $4.7 million, or $1.48 per share, in the same quarter of 2009. Revenue fell 3 percent to $100.3 million.

    Arden Group, Inc. (ARDNA) is a holding company, which conducts operations through its wholly owned subsidiary, Arden-Mayfair, Inc. (Arden-Mayfair) and Arden-Mayfair’s wholly owned subsidiary, Gelson’s Markets (Gelson’s) which operates supermarkets in Southern California. The Company also owns certain real estate properties through a subsidiary, Mayfair Realty, Inc. (Mayfair Realty) which is wholly owned by the Company and Arden-Mayfair. As of January 2, 2010, Gelson’s operated 18 full-service supermarkets in Southern California, which carry both perishable and dry grocery products.

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    Disclosure: "No Positions"
    Tags: ARDNA
    Dec 01 9:49 AM | Link | Comment!
  • New Ratings To GM Preferred Stock By Fitch Ratings
     Fitch Ratings has assigned a rating of 'B-' to General Motors Company's (NYSE:GM) new Series B mandatory convertible junior preferred stock that is slated to be issued in conjunction with the initial public offering (NYSEARCA:IPO) of the company's common stock.

    The ratings agency gave GM's new Series B mandatory convertible junior preferred stock a rating of "B-."

    Fitch also affirmed the issuer default ratings for GM and General Motors Holdings LLC at "BB-," and the secured revolving credit facility rating of "BB+."

    As of Sept. 30, the automaker ‘s global defined benefit pension plans were underfunded by $29 billion, including an underfunded position of about $19 billion for the company's U.S. plans, Fitch said.

    GM plans to issue 60 million shares of the Series B preferred stock at public offering price of $50 per share, which will result in total proceeds to the company of $2.9 billion after deducting underwriting discounts, commissions and other offering expenses.

    The downgrade resolves the Rating Watch Negative status for SRE. Fitch placed SRE and its subsidiaries on Rating Watch Negative Feb. 2, 2010 due to the pending sale of its commodities trading and marketing business.

    Management strategy is focused on investment in the core California-based utility businesses and unregulated and regulated natural gas infrastructure. Fitch calculates that approximately 70% of estimated 2010 - 2014 capex will be invested in the utility with the remainder natural gas infrastructure.

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    Disclosure: "No Positions"
    Dec 01 9:48 AM | Link | Comment!
  • Hawthorne Closes For Gross Proceeds Of $2,618,400
     Hawthorne Gold Corp. (OTCPK:HWTHF) is pleased to announce that further to its news release dated October 14, 2010, the Company has closed the first tranche of the non-brokered private placement and issued 23,803,636 common shares in the capital of the Company at the price of $0.11 per Share for gross proceeds of $2,618,400.

    The Shares issued under the first tranche of the Private Placement are subject to a statutory hold period expiring on March 13, 2011. Final acceptance of the Private Placement is subject to filing of final documentation with the TSX Venture Exchange ("TSXV").

    The funds raised from the issuance of the Shares will be used for exploration and development at the Company's Cassiar Gold Camp, as well as for general corporate and working capital purposes.

    As detailed in the Company's news release of October 14, 2010 and pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), the Company is required to obtain "minority approval" (as defined in MI 61-101) to close the second tranche of the Private Placement which consists only the subscription of 68,181,818 Shares from Skyocean Ventures Investment Limited ("Skyocean").

    Hawthorne Gold Corp. is a Canadian-based gold exploration and development company with key properties located in British Columbia, Canada. Hawthorne is led by well-respected mining leaders Richard Barclay and Michael Beley.

    Tags: HWTHF, TSXV
    Dec 01 9:46 AM | Link | Comment!
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