On Monday, Rentech, Inc. (NASDAQ:RTK)’s shares surged 6.36% to $1.17, after Rentech declared that Patrick J. Moore has resigned from the company’s Board of Directors. Mr. Moore, who is resigning for personal reasons, was designated to the board by GSO Capital Partners LP (GSO) in April 2014.
Douglas I. Ostrover, a member of Rentech’s board and founding member of GSO, stated, “We sincerely thank Pat for his contributions during his time with the company. We wish him well in his future endeavors.”
Mr. Moore commented, “I enjoyed my involvement with Rentech. I believe the company is well positioned for success.”
Rentech, Inc., through its auxiliaries, provides wood fiber processing services, wood chips, and wood pellets. The company operates through five segments: East Dubuque; Pasadena; Fulghum Fibres; Wood Pellets: Industrial; and Wood Pellets: NEWP. It manufactures and sells natural-gas based nitrogen fertilizer products in North and South America.
Alamos Gold Inc. (NYSE:AGI)’s shares gained 6.62% to $6.28, during the last trading session on Monday, after a gold mining company, and AuRico Gold Inc. declared that they have reached a definitive contract to combine their respective companies by way of a plan of arrangement, creating a new, leading intermediate gold producer. The Merger combines two top-quality, highly-complementary asset portfolios, counting two long-life, cash flow-generating gold mines: AuRico’s Young-Davidson mine in Ontario, Canada, and Alamos’ Mulatos mine in Sonora, Mexico. The transaction is structured as a merger of equals with a transaction equity value of about US$1.5 billion.
Under the terms of the Merger, holders of Alamos shares will receive, for each share held, 1 MergeCo share and US$0.0001 in cash, and holders of AuRico shares will receive, for each share held, 0.5046 MergeCo shares. Upon completion of the Merger, former Alamos and AuRico shareholders will each own about 50% of MergeCo (named Alamos Gold Inc.). In addition, a new company, to be named AuRico Metals Inc., will be created to hold AuRico’s Kemess project, a 1.5% net smelter return royalty (“NSR”) on the Young-Davidson mine, AuRico’s Fosterville and Stawell royalties, and will be capitalized with US$20 million of cash. Upon completion of the Merger, MergeCo will own a 4.9% equity interest in SpinCo. The remaining shares of SpinCo will be distributed 50% each to former Alamos and AuRico shareholders.
The merger is subject to shareholder and other applicable regulatory approvals and satisfaction of other customary conditions. The merger is predictable to close in the second quarter of 2015.
Alamos Gold Inc., a gold mining company, engages in the exploration, mine development, and mining and extraction of precious metals, primarily gold. The company’s primary asset is the Mulatos mine covering about 28,773 hectares of concessions in the state of Sonora, Mexico.
At the end of Monday’s trade, Yingli Green Energy Holding Co. Ltd. (NYSE:YGE)’s shares gained 6.22% to $2.05, as on April 7, one of the world’s leading solar panel manufacturers, known as “Yingli Solar,” declared that it has supplied 15.5 megawatts (MW) of solar panels to Marina Energy, a PV project developer and engineering, procurement, and construction (EPC) provider that is wholly-owned by South Jersey Industries (SJI), a holding company for several New Jersey-based energy and energy services providers.
Marina Energy installed Yingli’s highly durable, utility-scale multicrystalline YGE-U Series panels in three ground-mounted solar power plants in New Jersey: Frankford Solar, a 10 MW project located in Branchville; Holland Solar, a 3.5 MW project located in Holland; and Brickyard Solar, a 2 MW project located in Farmingdale.
All three facilities are predictable to be fully commercially operational by Q3 of this year. In total, they will generate about 17.5 million kilowatt-hours (kWh) of clean solar energy per year, which equals the energy demand of about 2,000 typical New Jersey households. The electricity produced by these projects will offset over 12,000 tons of carbon emissions over the systems’ lifetimes, which is equivalent to removing nearly 9,900 cars from the road.
Yingli Green Energy Holding Company Limited, together with its auxiliaries, designs, develops, manufacture, markets, sells, and installs photovoltaic products in the People’s Republic of China. It offers PV cells, PV modules, and integrated PV systems; and polysilicon ingots and blocks, and polysilicon wafers, in addition to develops and operates solar projects.
Finally, iKang Healthcare Group, Inc. (NASDAQ:KANG), ended its Monday’s trading session with 5.70% gain, and closed at $18.18, as China’s largest private preventive healthcare services provider, launched its personalized medical examination mobile app on March 27, 2015.
One of the key features of iKang’s preventative healthcare services is to fully inform individuals about the findings from the latest discoveries and research, and the latest clinical guidelines from around the world, especially from the US and China. By empowering individuals with a greater understanding of their own health and lifestyles before medical examinations, the iKang Medical Exam APP will make more personalized recommendations for individuals to take the necessary diagnostic tests and make the experience more effective. In its essence, the iKang Medical Exam APP is founded on balancing the risks and rewards of preventative medical examinations and providing individuals with well-informed choices.
According to Frost & Sullivan, medical examination services offered as part of corporate employee benefits accounted for about 80% of the market in 2014, with self-paid individual visits making up the remaining 20%.
iKang Healthcare Group, Inc., together with its auxiliaries, provides preventive healthcare solutions in the People’s Republic of China. The company offers a range of medical examinations, which comprise internal, gynecology, ophthalmology, ENT, dental, lab tests, electrocardiogram, ultrasound, and X-ray examination items.
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