On Wednesday, TransCanada Corporation (USA) (NYSE:TRP)’s shares inclined 3.26% to $42.42.
TransCanada Corporation (USA) (TRP) declared that it has notified the registered shareholder of its Cumulative Redeemable First Preferred Shares, Series 3 (Series 3 Shares) of the Conversion Privilege and Dividend Rate Notice.
Starting on June 1, 2015 and ending on June 15, 2015, holders of the Series 3 Shares will have the right to choose one of the following options with regard to their shares:
- To retain any or all of their Series 3 Shares and continue to receive a fixed quarterly dividend; or
- To convert, on a one-for-one basis, any or all of their Series 3 Shares into Cumulative Redeemable First Preferred Shares, Series 4 (Series 4 Shares) of TransCanada and receive a floating quarterly dividend.
Holders of the Series 3 Shares and the Series 4 Shares will have the opportunity to convert their shares again on June 30, 2020, and every five years thereafter as long as the shares remain outstanding.
Effective June 1, 2015, the Annual Fixed Dividend Rate for the Series 3 shares was set for the next five year period at 2.152%.
Effective June 1, 2015, the Floating Quarterly Dividend for the Series 4 Shares was set for the first Quarterly Floating Rate Period (being the period from and counting June 30, 2015, to but not taking into account September 30, 2015) at 1.945%. The Floating Quarterly Dividend Rate will be reset every quarter.
The Series 3 Shares are issued in “book entry only” form and, as such, the sole registered holder of the Series 3 Shares is the Canadian Depositary for Securities Limited (CDS). All rights of beneficial holders of Series 3 Shares must be exercised through CDS or the CDS participant through which the Series 3 Shares are held. The deadline for the registered shareholder to provide notice of exercise of the right to convert Series 3 Shares into Series 4 Shares is 3 p.m. (MDT)/ 5 p.m. (EDT) on June 15, 2015. Any notices received after this deadline will not be valid. As such, holders of Series 3 Shares who wish to exercise their right to convert their shares should contact their broker or other intermediary for more information and it is recommended that this be done well in advance of the deadline in order to provide the broker or other intermediary with time to complete the necessary steps.
TransCanada Corporation operates as an energy infrastructure company in North America. The company operates in three segments: Natural Gas Pipelines, Liquids Pipelines, and Energy. The Natural Gas Pipelines segment owns and operates natural gas pipelines and regulated natural gas storage facilities.
Galectin Therapeutics Inc (NASDAQ:GALT)’s shares gained 24.33% to $3.73.
Galectin Therapeutics Inc (GALT) reported that Marc Rubin, M.D. has been elected by the independent members of the board of directors as the lead independent director. Dr. Rubin has been a member of the Galectin board of directors since 2011 and presently serves on its compensation committee.
Nine of the 11 members of Galectin’s board meet applicable independence requirements. The executive chairman and CEO, as employees, are not independent.
Dr. Rubin is executive chairman of the board of directors of Titan Pharmaceuticals, Inc. and served as its president and chief executive officer from October 2007 to January 2009. Until February 2007 Dr. Rubin served as head of global research and development for Bayer Schering Pharma and as a member of the executive committee of Bayer Healthcare and the board of administration of Bayer Schering Pharma. Prior to the merger of Bayer Pharmaceuticals and Schering AG in June 2006, Dr. Rubin was a member of the executive board of Schering AG since joining the company in October 2003, in addition to chairman of Schering Berlin Inc. and president of Berlex Pharmaceuticals, a division of Schering AG. From 1990 until August 2003 Dr. Rubin was with GlaxoSmithKline where he held positions of increasing responsibility in global clinical and commercial development, overseeing programs in the U.S., Europe, Asia and Latin America, holding the position of senior vice president, discovery medicine and clinical pharmacology at the time of his departure to Schering AG. Dr. Rubin holds an M.D. from Cornell University Medical College. He is a member of the board of directors of Curis Inc., and formerly served on the board of directors of Medarex, Inc., now a partner of Bristol-Myers Squibb Company. He also serves as a board member in a number of privately held pharmaceutical companies and non-profit organizations.
Galectin Therapeutics Inc., a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic disease and cancer. The company’s lead product candidates comprise GR-MD-02, a complex polysaccharide polymer for the treatment of liver fibrosis and fatty liver disease; and GM-CT-01, a linear polysaccharide polymer comprising mannose and galactose that is in a Phase 1/2 clinical trials in Belgium as a combination with a tumor vaccine in patients with advanced melanoma, a skin cancer. Galectin Therapeutics Inc., through its collaborative joint venture, Galectin Sciences, LLC with SBH Sciences, Inc., is also involved in the research and development of small organic molecule inhibitors of galectin-3 for oral administration.
At the end of Wednesday’s trade, Restaurant Brands International Inc (NYSE:QSR)‘s shares gained 0.32% to $37.99.
The BURGER KING® brand is owned by Restaurant Brands International Inc (NYSE:QSR). The BURGER KING McLAMORESM Foundation declared recently that it is making the dreams of close to 2,500 students a reality. Through its BURGER KINGSM Scholars program, $2.7 million in scholarships — counting three $50,000 grants — are being awarded to exceptional high school graduates and BK® employees in the U.S., Canada and Puerto Rico.
Recognizing thousands of world-changing students through various scholarship levels, the program opens countless doors for students across North America, putting college within their reach and allowing them to seize unprecedented opportunities.
It all began in 2000, when BURGER KING® franchisees initiated the program. Since then, the BURGER KINGSM Scholars program—administered by the BURGER KING McLAMORESM Foundation since 2005—has touched the lives of more than 24,000 students, awarding $25.3 million in financial assistance to be used toward their educational advancement. This year alone, the program awarded three $50,000 James W. McLamore WHOPPER® Scholarship Awards, 10 $5,000 regional scholarships and close to 2,500 $1,000 scholarships to graduates.
These extraordinary students carry on the legacy of BURGER KING® brand co-founder James W. McLamore, the inspiration for the Foundation and a committed philanthropist whose dedication to education made him a pillar of community service throughout his lifetime.
Restaurant Brands International Inc. owns and operates quick service restaurants under the Burger King and Tim Hortons brand names. As of February 17, 2015, it franchised or owned 19,043 restaurants in about 100 countries and U.S. territories worldwide. The company was founded in 1954 and is headquartered in Oakville, Canada.
Kythera Biopharmaceuticals Inc (NASDAQ:KYTH), ended its Wednesday’s trading session with 6.27% gain, and closed at $56.43.
Kythera Biopharmaceuticals Inc (KYTH) declared that on June 2, 2015, the Compensation Committee of the Company’s Board of Directors granted 50 new employees options to purchase an aggregate of 252,000 shares of the Company’s common stock. The exercise price of each option was $53.26, the closing trading price on the date of grant. The stock options were granted following the Company’s 2014 Employment Commencement Incentive Plan, which was approved by the Company’s Board of Directors in August 2014 under Rule 5653(c)(4) of The Nasdaq Global Select Market for equity grants to induce new employees to enter into employment with the Company.
KYTHERA Biopharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of prescription products for the aesthetic medicine market in the United States and internationally. Its product candidate ATX-101, is an injectable drug in late-stage clinical development for the reduction of submental fat.
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