ING Prime Rate Trust (NYSE:PPR) announced its intention to redeem a portion of its outstanding auction-rate preferred shares (ARPS). The Trust's Board of Trustees has approved a partial redemption that will be paid primarily by drawing on leverage available under the Trust's credit facilities.
The redemption would provide liquidity at par for the holders of a portion of the Trust's ARPS. The Trust expects to redeem approximately $25 million of the $125 million ARPS currently outstanding, approximately 20% by series, subject to satisfying the notice and other requirements that apply to ARPS redemptions.
ING Prime Rate Trust is a close ended fixed income mutual fund launched and managed by ING Investments, LLC.
The fund is co managed by ING Investment Management Co.
American Video Teleconferencing Corp. Signs Option Agreement
American Video Teleconferencing Corp. (Pink Sheets:AVOT) “the company”, is pleased to announce that it has signed an option agreement for three gold bearing claim blocks situated in the northern mining district of Saskatchewan, Canada.
Geared-up mining operations and expanded manufacturing schedules in Africa, Australia, Canada, Malaysia, the US, Vietnam and elsewhere, may well provide supply-chain choices to China, which controls well over 95 % of the world’s rare earths.
The U.S. House of Representatives, fearful the U.S. military could possibly become relying on Chinese-made electronics, approved H.R. 6160, the Rare Earths and Critical Materials Revitalization Act of 2010
Assays taken in 2008 on selected samples returned repeatable high grade gold values of 7gms/ton (.25oz) to 112.9gms/ton (3.99oz/ton).
The project is 1385 hectares in area and covers several documented nickel-copper and gold showings and land in proximity to lake sediment geochemical and biogeochemical anomalies.
Access to the project is currently by float or ski equipped aircraft or by helicopter to Stony Rapids which is accessible by commercial aircraft from the major cities of Saskatoon or Regina in southern Saskatchewan.
The expenditures for the 2010-2011 work program will be paid by the property owners due to an arrangement reached in the option agreement with the issuance of 1.2 million restricted shares (144).
Park City Group Inc. (AMEX:PCYG) announced that it has been selected for its Enterprise Demand Sensing Solution (NYSEMKT:DSS) by a leading health food restaurant retailer with over 700 company-owned and franchised locations.
The purpose of implementing a DSS strategy is to benefit from store-level and supply chain information in near real-time to enhance sales, profits and customer/brand loyalty. Proprietary analytics from Park City Group accumulates sales and related data enabling more accurate decision making relating to product requirements and customer demand, with additional benefits pertaining to improved inventory management, forecasting, supply chain reconciliation.
Park City Group, Inc. operates as a Software-as-a-Service (SaaS) provider that brings unique visibility to the consumer goods supply chain, delivering actionable information.
TCW Strategic Income Fund, Inc. (NYSE:TSI) announced that its Board of Directors declared a quarterly distribution of $0.0835. The distribution is payable on January 11, 2011 to shareholders of record on December 30, 2010. The distribution is based on the managed distribution policy which is to make a quarterly distribution equal to 7% per annum of the Fund's prior year-end net asset value per share.
It is estimated that substantially all of the dividend will be from net income. Distribution policies are a matter of Board discretion and may be modified or terminated at any time without prior notice.
TCW Strategic Income Fund, Inc. operates as a diversified, closed-end investment management company.
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Crown Equity Holdings Inc. (OTCPK:CRWE) has received from the company 2,000,000 shares of (144) restricted common stock of American Video Teleconferencing Corp. (OTCPK:AVOT) for 12 months IR Services and 1,000,000 shares of (144) restricted common stock for its IT services.