On Friday, Computer Sciences Corporation (NYSE:CSC)’s shares declined -2.38% to $67.73.
Computer Sciences Corporation (CSC) declared that Sachin Lawande has been elected to the company’s Board of Directors and designated as a member of the Compensation Committee.
Lawande, 48, was named chief executive officer of Visteon Corp., effective June 29. Formerly he was president of the Infotainment Division of Harman International Industries. Prior to that Lawande served as chief innovation officer, chief technology officer, and co-president of Harman’s Automotive Division, responsible for guiding software strategy, development partnerships, and key customer relationships. He was instrumental in launching an offshore development center in India as part of Harman’s strategy for optimizing its global engineering footprint.
Computer Sciences Corporation provides information technology (IT) and professional services and solutions primarily in North America, Europe, Asia, and Australia. The company operates through Global Business Services, Global Infrastructure Services, and North American Public Sector segments. The Global Business Services segment provides technology solutions, counting consulting, applications services, and software.
New Gold Inc. (USA) (NYSEMKT:NGD)’s shares gained 0.31% to $3.25.
New Gold Inc. (USA) (NGD) declared the appointment of Kay Priestly to its Board of Directors.
Ms. Priestly has over 35 years of experience in finance, accounting and executive administration. She spent 24 years with Arthur Andersen LLP as a Certified Public Accountant where she offered auditing, tax and consulting services and held various senior leadership positions. She ultimately served on the firm’s global executive team as Managing Partner, People. From 2006 to 2014, Ms. Priestly held various executive positions with Rio Tinto plc and its associates, counting four years as Chief Financial Officer, Copper for Rio Tinto’s global copper product group and two years as Chief Executive Officer of Turquoise Hill Resources Ltd., an international mining company with copper-gold operations in the Asia-Pacific region. Ms. Priestly holds a Bachelor of Science, Accounting from Louisiana State University.
New Gold Inc., a gold mining company, engages in the acquisition, exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits.
At the end of Friday’s trade, Paragon Offshore PLC (NYSE:PGN)‘s shares surged 2.37% to $1.73.
Paragon Offshore PLC (PGN) declared that certain wholly owned auxiliaries of the company, which were part of the company’s acquisition of Prospector Offshore Drilling S.A. (“Prospector”), have reached a combined $300 million sale-leaseback financing facility with auxiliaries of SinoEnergy, a private investment firm registered in the British Virgin Islands. Net of fees and expenses, Prospector anticipates to receive net proceeds of about $292 million.
Under the terms of the agreement, Prospector will sell two heavy-duty, harsh-environment jackup units, Prospector 1 and Prospector 5, to auxiliaries of SinoEnergy and right away enter into a bareboat rental charter for the assets for a period of five years. The bareboat charter fee for Prospector 1, which is under firm contract until mid-September 2016, is $71,000 per day through November 2016, after which it will be $42,000 per day for the remainder of the charter. The bareboat charter fee for Prospector 5, which is under firm contract until mid-November 2017, is $71,000 per day through February 2018, after which it will also be reduced to $42,000 per day. The combined implied cost of borrowing is about 7.5%, counting fees and expenses. The lease financing is non-recourse to Paragon.
Paragon Offshore plc, together with its auxiliaries, provides offshore drilling rigs. The company is involved in contracting its rigs, related equipment, and work crews to conduct oil and gas drilling and workover operations for its exploration and production customers on a day rate basis. Its drilling fleet comprises of 34 jackups and 6 floaters, counting 4 drillships and 2 semisubmersibles.
China Finance Online Co. (ADR) (NASDAQ:JRJC), ended its Friday’s trading session with 3.79% gain, and closed at $6.02.
China Finance Online Co. (ADR) ( JRJC) a leading web-based financial services company that provides Chinese retail investors with online access to securities and commodities trading, wealth administration products, investment advisory services, in addition to financial database and analytics services to institutional customers, responded to the allegations raised in a report dated June 3, 2015 issued by Geoinvesting, LLC (“Geoinvesting”). The Company believes that Geoinvesting report contains numerous errors of facts, misleading speculations and malicious interpretations of events. The Company’s board of directors has been informed of the allegations made by Geoinvesting and will consider and decide on the necessary and appropriate course of action in response to the allegations. The Company may release additional information concerning the allegations in due course and is committed to providing full and accurate disclosure to investors and to rebutting any false claims that attempt to undermine confidence in the Company’s business, administration, operations and corporate structure.
China Finance Online Co., Limited provides Web-based financial services in the People’s Republic of China and Hong Kong. The company operates through three segments: Precious Metals Trading Services; Online Financial Information and Advisory Service, and Other Related Services; and Hong Kong Brokerage Services.
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