During Friday’s Morning trade, Shares of Global Defense & National Scrty Sys Inc (NASDAQ:GDEF), gained 11.21% to $12.40.
Global Defense & National Security Systems, declared that it convened and adjourned, without conducting any business, its special meeting in lieu of the 2015 annual meeting of stockholders (the “Special Meeting”), held on November 12, 2015, at 11:00 a.m. Eastern Time until Friday, November 13, 2015 at 9:00 a.m. Eastern Time, at which time GDEF’s stockholders will vote on the proposals to be considered at the Special Meeting, counting a proposal to approve GDEF’s business combination with STG Group, Inc. (the “Business Combination Proposal”) as described on the proxy statement (the “Proxy Statement”) that GDEF filed with the Securities and Exchange Commission on October 22, 2015. The Special Meeting will still be held at 2000 Pennsylvania Avenue, N.W. Suite 6000, Washington, D.C. 20006.
Stockholders of record at the close of business on October 21, 2015 are entitled to receive notice of the special meeting and to vote the shares of common stock of GDEF owned by them at the Special Meeting. If you have already returned a validly executed proxy card, your shares will remain voted unless you revoke your preceding proxy before the Special Meeting. You may change your vote by submitting a subsequent proxy. You may change your vote by submitting a later-dated, executed proxy card by mail or following the voting instructions (counting any telephone or Internet voting instructions) offered by your broker or bank if your shares are held in ”street name,” in each case in accordance with the instructions offered under ”Special Meeting in Lieu of 2015 Annual Meeting of GDEF Stockholders” in the Proxy Statement preceding to the special meeting or attending the special meeting in person and voting. You also may revoke your proxy by sending a notice of revocation to our secretary, which must be received by our secretary preceding to the special meeting.
As more fully described in the Proxy Statement, the stockholders who intend to exercise their redemption rights must check the box on the proxy card offered for that purpose and return the proxy card in accordance with the instructions offered. In connection with tendering your shares for redemption, you must elect either to physically tender your stock certificates to American Stock Transfer & Trust Company, LLC, our transfer agent, at American Stock Transfer & Trust Company, LLC, 6201 15th Avenue, Brooklyn, New York 11219, Attn: AST Proxy Department, by two business days preceding to the special meeting or to deliver your shares to the transfer agent electronically using The Depository Trust Company’s DWAC (Deposit/Withdrawal At Custodian) System, which election would likely be determined based on the manner in which you hold your shares. Certificates that have not been tendered in accordance with these procedures by two business days preceding to the special meeting will not be redeemed for cash. In the event that you tender your shares and decide priority to the special meeting that you do not want to redeem your shares, you may withdraw the tender at any time preceding to the time that the Business Combination Proposal is approved.
Global Defense & National Security Systems, Inc. does not have noteworthy operations. The company intends to acquire operating businesses or assets through merger, capital stock exchange, asset acquisition, stock purchase, reorganization, exchangeable share transaction, or other similar business transactions in the United States.
Shares of On Track Innovations Ltd (USA) (NASDAQ:OTIV), declined -2.25% to $0.587, during its current trading session.
On Track Innovations Ltd., stated financial results for the third quarter ended September 30, 2015.
Q3 2015 Operational Highlights
- Designated Shlomi Cohen as CEO, who brings more than 25 years of experience managing global organizations to advance the sales of oti’s cashless payment solutions.
- Implemented a new go-to-market strategy designed to advance the company’s NFC market leadership and drive growth.
- Filed patent infringement lawsuits against AT&T and Verizon.
On Track Innovations Ltd. designs, develops, and markets cashless payment solutions. The company operates through three segments: Retail and Mass Transit, Petroleum, and Parking. Its products comprise WAVE that offers near-field communication (NFC), contactless payment, and security capabilities to iPhone and Android mobile devices; WAVE PKI, a device-agnostic add-on for audio jacks of smartphones, tablets, and personal computers; oti Payment NFC Insert, a bridge to contactless payment for MasterCard, Visa and other card associations, debit and credit, e-Purse, mass transit ticketing, e-coupons, and loyalty programs; oti Readers, which comprise NFC and contactless payment reader solutions; and oti SATURN 6700 UNO, a single interface and contactless reader.
Finally, Shares of Gulf Mark Offshore, Inc. (NYSE:GLF), gained 5.94%, and is now trading at $4.99.
Gulf Mark Offshore, declared its results of operations for the three- and nine-month periods ended September 30, 2015. Quarterly highlights comprise:
- Generated Cash from Operations of $7.9 Million After Semi-Annual Interest Payments.
- Reduced Direct Operating Expenses, Before Special Items, by 10% vs. Previous Quarter.
- Forecasting Additional Decrease in Direct Operating Expenses of About 19% from Q3 to Q4 2015, Before Special Items.
- Lowered General and Administrative Expenses, Before Special Items, by 4% vs. Previous Quarter.
- Recorded Non-Cash Pre-Tax Impairments to PP&E, Goodwill, and Intangible Assets of $152.1 Million.
- Total Liquidity Was About $280.0 Million at Quarter End.
For the third quarter ended September 30, 2015, revenue was $60.7 million, and net loss was $185.2 million, or $7.48 per diluted share. Comprised in the results are after-tax special items described below that totaled $171.6 million or $6.93 per diluted share. Quarterly loss before these special items was $13.6 million or $0.55 per diluted share.
Gulf Mark Offshore, Inc. provides offshore marine support and transportation services primarily to the companies involved in the offshore exploration and production of oil and natural gas. The company’s vessels offer various services supporting the construction, positioning, and ongoing operation of offshore oil and natural gas drilling rigs and platforms, and related infrastructure. Its vessels transport materials, supplies, and personnel to offshore facilities, in addition to move and position drilling structures.