EIN Presswire: Banking Press Releases

Maple and TMX Group note publication by British Columbia Securities Commission of draft recognition order and undertakings

Thu, 24 May 2012 23:41:00 +0000

Maple and TMX Group note publication by British Columbia Securities Commission of draft recognition order and undertakings

Canada NewsWire

/NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR PART, IN, INTO OR FROM ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO./

TORONTO, May 24, 2012 /CNW/ - Maple Group Acquisition Corporation ("Maple") and TMX Group Inc. ("TMX Group") (TSX:X) today noted that the British Columbia Securities Commission ("BCSC") has published a draft recognition order and undertakings with respect to the BCSC's ongoing review of Maple's proposed acquisition of TMX Group and related transactions.

The BCSC is asking for public comment on whether it ought to grant the application by Maple to amend the BCSC's recognition order relating to the TSX Venture Exchange and, if so, the conditions and undertakings that ought to accompany any amendment. The BCSC's notice invites public comment until June 22, 2012.

Maple and TMX Group will fully review the BCSC's draft materials and intend to enter into discussions with the BCSC regarding these draft materials.

The documents published by the BCSC can be found at www.bcsc.bc.ca.

Additional Information

As previously disclosed, under the support agreement with TMX Group, Maple has agreed to use commercially reasonable efforts to obtain all required regulatory approvals, including from the securities regulatory authorities and the Commissioner of Competition, and to accept all conditions, commitments and undertakings necessary to do so, provided they do not result in a "Material Detriment" as defined in the support agreement. Maple will continue to work to settle the terms and conditions of the required recognition orders and to resolve outstanding issues and concerns raised by securities regulators and the Commissioner of Competition. However, there can be no assurance that the terms and conditions of such final recognition orders will not result in a Material Detriment or that remedies short of a Material Detriment will address the issues and concerns raised by securities regulators and the Commissioner of Competition. As a result, there can be no assurance that the required regulatory approvals will be obtained.

Maple's offer to acquire a minimum of 70% and a maximum of 80% of the shares of TMX Group for $50 in cash per share is open until 5:00p.m. (Eastern Time) on Thursday, May 31, 2012. Maple expects to have further information about the timing for receipt of potential final regulatory approvals by May 31, 2012, at which time it expects to further extend its offer to the date on which it expects to take up shares of TMX Group under the offer. Maple has agreed under its support agreement with TMX Group to continue to extend the expiry date of the offer until July 31, 2012 if necessary to obtain the required regulatory approvals. The offer is part of an integrated acquisition transaction, valued at approximately $3.8 billion, to acquire 100% of TMX Group shares. The TMX Group Board of Directors continues to unanimously recommend that TMX Group shareholders accept and tender their shares under the Maple offer.

Details of Maple's offer are available in its Offer and Circular dated June 10, 2011, as varied by the Notice of Variation dated June 24, 2011, the Notice of Change and Extension dated August 8, 2011, the Notice of Extension dated September 29, 2011, the Notice of Variation and Extension dated October 31, 2011, the Notice of Extension dated January 31, 2012, the Notice of Extension dated February 24, 2012, the Notice of Extension dated March 30, 2012, and the Notice of Change and Extension dated May 3, 2012. These documents are also available at www.abetterexchange.com.

About Maple Group Acquisition Corporation

The investors in Maple Group Acquisition Corporation are: Alberta Investment Management Corporation, Caisse de dépôt et placement du Québec, Canada Pension Plan Investment Board, CIBC World Markets Inc., Desjardins Financial Group, Dundee Capital Markets Inc., Fonds de solidarité des travailleurs du Québec (F.T.Q.), GMP Capital Inc., National Bank Financial & Co. Inc., Ontario Teachers' Pension Plan, Scotia Capital Inc., TD Securities Inc. and The Manufacturers Life Insurance Company.

About TMX Group (TSX-X)

TMX Group's key subsidiaries operate cash and derivative markets for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Montreal Exchange, Canadian Derivatives Clearing Corporation, Natural Gas Exchange, Boston Options Exchange (BOX), Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montreal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London and Beijing. For more information about TMX Group, visit our website at www.tmx.com.

This press release is not intended to and does not constitute or form part of an offer or invitation to sell or purchase any securities, the solicitation of an offer to buy or sell any securities or an offer to exchange or otherwise acquire any securities, in any jurisdiction, whether pursuant to the offer described in this press release or otherwise. Maple's Circular and related notices contain important information and TMX Group shareholders are urged to read them carefully before any decision is made with respect to the offer.

The distribution of this press release in jurisdictions other than Canada may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than Canada should inform themselves about, and observe, any applicable requirements. This press release does not purport to comply with the laws of any non- Canadian jurisdiction and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions outside Canada.

Information for U.S. Shareholders

The offer is being made for the securities of a Canadian company that does not have securities registered under Section 12 of the U.S. Securities Exchange Act of 1934, as amended (the "U.S. Exchange Act"). Accordingly, the offer is not subject to Section 14(d) of the U.S. Exchange Act, or Regulation 14D promulgated by the U.S. Securities and Exchange Commission (the "SEC") thereunder. The offer is being conducted in accordance with Section 14(e) of the U.S. Exchange Act and Regulation 14E promulgated by the SEC thereunder (with settlement being subject to a longer period than would typically apply for securities of U.S. public companies).

The Maple shares to be issued to shareholders (including U.S. shareholders) other than Maple pursuant to the plan of arrangement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or under the securities law of any state or other jurisdiction of the United States. The Maple shares to be issued pursuant to the plan of arrangement will be issued in reliance upon the exemption from the registration requirements of the U.S. Securities Act provided by section 3(a)(10) thereof and only to the extent that corresponding exemptions from the registration or qualification requirements of state "blue sky" securities laws are available.

All dollar references in this press release are in Canadian dollars. On May 24, 2012, the Bank of Canada noon rate of exchange for U.S. dollars was CDN. $1.00 - U.S. $0.9732.

Notice to Shareholders in the United Kingdom and European Economic Area

The offer is only being made within the European Economic Area ("EEA") pursuant to an exemption under Directive 2003/71/EC (together with any applicable adopting or amending measures in any relevant member state (as defined below), the "Prospectus Directive"), as implemented in each member state of the EEA (each, a "relevant member state"), from the requirement to publish a prospectus that has been approved by the competent authority in that relevant member state and published in accordance with the Prospectus Directive as implemented in that relevant member state or, where appropriate, approved in another relevant member state and notified to the competent authority in that relevant member state, all in accordance with the Prospectus Directive. Accordingly, in the EEA, the offer and documents or other materials in relation to Maple Shares are only addressed to, and are only directed at, (a) qualified investors in a relevant member state within the meaning of Article 2(1)(e) of the Prospectus Directive, as adopted in the relevant member state, and (b) persons who hold, and will tender, the equivalent of at least €50,000 worth of TMX Shares (collectively, "permitted participants"). These documents may not be acted or relied upon by persons in the EEA who are not permitted participants.

With reference to the U.K. Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), the offer and any materials in relation to Maple Shares is only directed at persons in the United Kingdom that are (a) investment professionals falling within Article 19(5) of the Order or who fall within Article 49(2)(a) to (d) of the Order; (b) holders of TMX Shares at the time of communication of the offer and such materials; or (c) persons to whom they may otherwise lawfully be communicated (collectively, "relevant persons"). In the United Kingdom, Maple Shares are only available to, and the offer may only be accepted by, relevant persons who are also permitted participants, and as such, any investment or investment activity to which this document relates is available only to, and may be relied upon only by, relevant persons who are also permitted participants.

Caution Regarding Forward-Looking Information

This document contains "forward-looking information" (as defined in applicable Canadian securities legislation). This information is based on the current expectations, assumptions, projections, estimates and other factors that the management of Maple believe to be relevant as of the date of this document. This information is naturally subject to uncertainty and changes in circumstances. The forward-looking information contained in this document may include, but is not limited to, statements relating to the proposed acquisition of TMX Group by Maple, and the effects thereof, and the proposed subsequent combination with Alpha Group and CDS, and the effects thereof, and other statements other than historical facts. TMX Group has not had access to confidential information relating to Alpha Group, including the terms of the Alpha shareholder agreement. To the extent the information in this document relates to Alpha Group, TMX Group is relying on Maple for the accuracy of that information.

Often, but not always, forward-looking statements and forward-looking information can be identified by the use of the words "expect", "will", "intend", "estimate", "may" and similar expressions. Forward-looking statements are necessarily based upon a number of factors, estimates and assumptions that, while considered reasonable by Maple, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Readers are cautioned that such forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Maple and/or its subsidiaries to be materially different from the estimated future results, performance or achievements expressed or implied by those forward looking statements and information, and the forward-looking statements and information are not guarantees of future performance. In addition to the risks identified in the press release, these risks, uncertainties and other factors include, but are not limited to: the satisfaction of the conditions to the proposed acquisition of TMX Group, including obtaining required regulatory approvals; failure to acquire Alpha Group or CDS; the inability to successfully integrate TMX Group's operations with those of Alpha Group and CDS, including, without limitation, incurring and/or experiencing unanticipated costs and/or delays or difficulties; costs of on-exchange clearing and depository services, trading volumes (which could be higher or lower than estimated) and revenues; future levels of revenues being lower than expected or costs being higher than expected; conditions affecting the industry; local and global political and economic conditions; unforeseen fluctuations in trading volumes; competition from other exchanges or marketplaces, including alternative trading systems and new technologies, on a national and international basis; foreign exchange rate fluctuations and interest rate fluctuations (including from any potential credit rating decline); legal or regulatory developments and changes; the outcome of any litigation; the impact of any acquisitions or similar transactions; dependence on the economy of Canada; competitive products and pricing pressures; success of business and operating initiatives; failure to retain and attract qualified personnel; failure to implement strategies; dependence on information technology; dependence on adequate numbers of customers; risks associated with clearing operations; inability to protect intellectual property; the adverse effect of a systemic market event on the derivatives business; risks associated with integrating the operations, systems, and personnel of new acquisitions; dependence on market activity that cannot be controlled and/or conditions in the securities market that are less favourable than expected; and changes in the level of capital investment. Other factors could also cause actual results to differ materially from those in the forward-looking information. For additional information on such risks, please consult "Risk Factors" found on page 64 of Maple's June 10, 2011 circular, and page 2 of Maple's January 31, 2012 Notice of Extension.

Actual results, events, performances, achievements and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking information contained in this document. Maple and its investors make no representations as to present or future value or the present or future trading price of any security, including Maple shares.

Given these risks and uncertainties, investors should not place undue reliance on forward-looking information as a prediction of actual results. Neither Maple nor its investors nor any of their respective affiliated companies undertakes any obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise, except to the extent legally required.

SOURCE Maple Group Acquisition Corporation

Royalty Pharma Raises $600 Million of Debt

Thu, 24 May 2012 23:02:00 +0000

Royalty Pharma, the industry leader in acquiring royalty interests in marketed and late stage biopharmaceutical products, announced that it has successfully issued $600 million of incremental Term Loan B debt through RPI Finance Trust ("RPIFT"), bringing total debt outstanding at RPIFT to approximately $3.4 billion. Proceeds will be used to fund future acquisitions.

The new $600 million tranche was priced at 98.5 with a borrowing spread of Libor + 3.00% and matures on November 9, 2018, but otherwise has the same terms and conditions as RPIFT's existing Term Loan B facilities, which consist of a $850 million tranche maturing on November 9, 2016 with a borrowing spread of Libor + 2.75%; and a $1.9 billion tranche maturing on May 9, 2018 with a borrowing spread of Libor + 3.00%. The new tranche was very well received, with strong demand resulting in the issue size being increased from $500 million to $600 million. Upon issuance of the new debt, RPIFT continues to have a conservative leverage ratio (measured as total debt to EBITDA) of 3.5x, compared to 2.9x prior to issuance. All three rating agencies, Moody's Investor Service, Standard & Poor's and Fitch have affirmed RPIFT's investment grade ratings.

Pablo Legorreta, Founder & Chief Executive Officer, commented, "Overall, we are very pleased with the positive outcome of this transaction, especially in light of the current market conditions. We believe the robust execution and our ability to maintain the same borrowing spread underscores the strength of Royalty Pharma's reputation in the debt markets and the underlying high quality of our well diversified royalty portfolio. Despite the weak current market, from a long term perspective the overall cost of this debt financing is extremely attractive."

Susannah Gray, Executive Vice President and Chief Financial Officer, commented, "We appreciate the continued support of our existing lenders and welcome the new lenders to our borrowing group. We believe our ability to place this additional debt demonstrates our lenders confidence in Royalty Pharma's credit profile."

Bank of America Merrill Lynch acted as lead book runner. Goldman Sachs and Citigroup acted as joint-book runners. Davis Polk & Wardwell acted as legal advisor to Royalty Pharma.

About Royalty Pharma

Royalty Pharma is the industry leader in acquiring royalty interests in marketed and late stage biopharmaceutical products. With over $7.5 billion in assets, including royalty assets of $7 billion, the company owns royalty interests in over 30 marketed and late stage biopharmaceutical products. Leading products in Royalty Pharma's portfolio include: Abbott's Humira®, Johnson and Johnson's Remicade® and Prezista®, Gilead's Atripla®, Truvada®, Complera® and Emtriva®, Pfizer's Lyrica®, Amgen's Neupogen® and Neulasta®, Genentech's Rituxan®, Forest's Savella®, Astella's Lexiscan®, Merck's Januvia/Janumet®, Roche and UCB's Cimzia® and Mircera®. The company has a fifteen year history of providing value to holders of royalty interests, including its $700 million acquisition of AstraZeneca's Humira® royalty, its $700 million purchase of a portion of Northwestern University's Lyrica® royalty, its $650 million purchase of New York University's Remicade® royalty, its joint $525 million acquisition with Gilead Sciences of Emory University's emtricitabine royalty interests, its $609 million acquisition of Astellas' DPP-IV patent estate and associated royalty interests, and its $761 million acquisition of an interest in the amounts payable to the former shareholders of Fumapharm on Biogen Idec's BG-12.

Royalty Pharma
RP Management LLC
Investor Relations
+ 1 (212) 883-0200
Email Contact

Encore Capital Group Recognized as "San Diego's Healthiest Company" for 2012

Thu, 24 May 2012 22:21:38 +0000

Encore Capital Group Recognized as "San Diego's Healthiest Company" for 2012

PR Newswire

SAN DIEGO, May 24, 2012 /PRNewswire/ -- Encore Capital Group has been named – for the second year in a row – "San Diego's Healthiest Company" in the Large Company category. The 2012 recognition from the San Diego Business Journal was announced May 16th at the organization's annual awards ceremony. "This is a significant accomplishment for Encore and our employees," said Encore CEO Brandon Black. "We have successfully built on the achievements of 2011, and I am proud that our leadership and employees have continued to embrace our commitment to active, healthy lifestyles and healthy work-life decisions."

Encore has been a long-time leader in health and wellness programs. The company introduced consumer-directed health plans for its employees in 2005 and actively engages employees in the company's health programs and health care-related spending. Encore began offering no-cost preventive care and prescriptions to employees and their families long before law required it. In addition, the company provides incentives to employees to actively manage their personal and families' health. These include gym membership reimbursements, biometric health screenings, walking programs, a health-related lecture series, and weight-loss programs.

In 2009, Encore transitioned to 100% consumer-directed health plans for its employees, to ensure that employees and their families understand how their health care expenditures are used. The company's health and wellness programs have an important impact on reducing health care-related costs to the company and its employees.

About Encore Capital Group, Inc.

Encore Capital Group is a leading provider of debt management and recovery solutions for consumers and property owners across a broad range of assets. The company purchases portfolios of consumer receivables from major banks, credit unions, and utility providers, and partners with individuals as they repay their obligations and work toward financial recovery. Through its subsidiary, Propel Financial Services, the company assists property owners who are delinquent on their property taxes by structuring affordable monthly payment plans. Encore's success and future growth are driven by its sophisticated and widespread use of analytics, its broad investments in data and behavioral science, the significant cost advantages provided by its highly-efficient operating model and proven investment strategy, and the company's demonstrated commitment to conducting business ethically and in ways that support its consumers' financial recovery.

Headquartered in San Diego, Encore is a publicly traded NASDAQ Global Select company (ticker symbol: ECPG) and a component stock of the Russell 2000, the S&P SmallCap 600, and the Wilshire 4500. More information about the company can be found at www.encorecapital.com.

For media inquiries, please contact:

George Durham, Encore Capital Group
george.durham@encorecapital.com
(858) 309-9491

Katie Lilley, Hillenby, for Encore Capital Group
katielilley@hillenby.com
(703) 889-8504, ext. 2

SOURCE Encore Capital Group, Inc.

Bottomline Technologies Named 2012 Quality Service Provider of the Year

Thu, 24 May 2012 21:54:00 +0000

Bottomline Technologies Named 2012 Quality Service Provider of the Year

PR Newswire

PORTSMOUTH, N.H., May 24, 2012 /PRNewswire/ --

Wins Nutricia Quality Service Provider of the Year Award

Bottomline Technologies (NASDAQ: EPAY), a leading provider of cloud-based payment, invoice and banking solutions, has been named as the 'Nutricia Quality Service Provider of the Year' at the UK Customer Satisfaction Awards 2012. The Awards, sponsored by the Institute of Customer Service, highlight and reward organizations and individuals that have implemented successful customer service strategies.

The participants in this prestigious event include many of the largest companies in the world, with a number of well-known businesses such as BMW, Virgin Media, LV=, BT Group, Barclays, Asda and Sainsburys named as finalists this year.

"As a company, we pride ourselves on the quality and delivery of our customer service, which is a fundamental part of our corporate objectives," said Rob Eberle, President and Chief Executive Officer of Bottomline Technologies. "Winning this prestigious award is a great achievement for Bottomline, and reflects our commitment to ensuring that our customers' needs are always met through our C1 First Class Customer Care program."

Jo Causon, Chief Executive at the Institute, comments "In these uncertain economic times Bottomline Technologies has shown that their organization is committed to their customers at the very highest level. They are differentiating through service, placing customers at the heart of their business strategy and securing a bright future for their employees by doing so."

About Bottomline Technologies

Bottomline Technologies (NASDAQ: EPAY) provides cloud-based payment, invoice and banking solutions to corporations, financial institutions and banks around the world. The company's solutions are used to streamline, automate and manage processes involving payments, invoicing, global cash management, supply chain finance and transactional documents. Organizations trust Bottomline to meet their needs for cost reduction, competitive differentiation and optimization of working capital. Headquartered in the United States, Bottomline also maintains offices in Europe and Asia-Pacific. For more information, visit http://www.bottomline.com.

About the Institute of Customer Service

The Institute of Customer Service is the professional body for customer service whose primary purpose is to lead and raise customer service performance and professionalism.

It is the authoritative voice of customer service and a catalyst for all those whose focus is on the delivery of world-class service experiences.

The Institute is a membership body with a community of more than 370 organisational members - from the private, public and third sectors - and around 7,000 individual memberships.

Bottomline Technologies and the Bottomline Technologies logo are trademarks of Bottomline Technologies (de), Inc. which may be registered in certain jurisdictions. All other brand/product names may be trademarks of their respective owners.

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including but not limited to statements containing the words "will", "believes," "plans," "anticipates," "expects," "look forward", "estimates" and similar expressions) should be considered to be forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including but not limited to competition, market demand, technological change, strategic relationships, recent acquisitions, international operations and general economic conditions. For additional discussion of these and other factors that could impact Bottomline Technologies' financial results, refer to the company's Form 10-K for the fiscal year ended June 30, 2011 and any subsequently filed Form 10-Qs, Form 8-Ks or amendments thereto. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking statements.

Company Contact:
Lara Mataac
Bottomline Technologies
+1-603-501-6371
lmataac@bottomline.com

Bottomline Technologies Named 2012 Quality Service Provider of the Year

Thu, 24 May 2012 21:54:00 +0000

Bottomline Technologies Named 2012 Quality Service Provider of the Year

PR Newswire

PORTSMOUTH, N.H., May 24, 2012 /PRNewswire/ --

Wins Nutricia Quality Service Provider of the Year Award

About Bottomline Technologies

About the Institute of Customer Service

The Institute of Customer Service is the professional body for customer service whose primary purpose is to lead and raise customer service performance and professionalism.

It is the authoritative voice of customer service and a catalyst for all those whose focus is on the delivery of world-class service experiences.

The Institute is a membership body with a community of more than 370 organisational members - from the private, public and third sectors - and around 7,000 individual memberships.

Company Contact:
Lara Mataac
Bottomline Technologies
+1-603-501-6371
lmataac@bottomline.com

SOURCE Bottomline Technologies Europe Ltd

PrivateBancorp Stockholders Approve All Proposals

Thu, 24 May 2012 21:17:41 +0000

PrivateBancorp Stockholders Approve All Proposals

PR Newswire

CHICAGO, May 24, 2012 /PRNewswire/ -- PrivateBancorp, Inc. (NASDAQ: PVTB) today announced that its stockholders have approved all proposals at the 2012 annual meeting.

PrivateBancorp stockholders approved the following proposals:

The election of Board members Norman R. Bobbins, James B. Nicholson, and Alejandro Silva
The ratification of the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2012
A non-binding advisory vote to approve 2011 executive compensation

"For PrivateBancorp, 2011 was a year of progress and possibility," President and Chief Executive Officer Larry D. Richman told shareholders. "Progress as reflected in our core financial performance and possibility in the continued opportunities we have to expand our business with existing clients and gain market share.

"Our improvement is owed to a focus on both client development and asset quality improvement," Richman said. "We believe in our strategy to be a leader of commercial middle market banking and we will continue to focus on our priorities that are aimed at building long-term shareholder value."

Of the approximately 68.9 million shares eligible to vote as of the March 30, 2012, the record date, approximately 63.5 million votes, or approximately 92.2 percent of the total shares outstanding, were represented at the meeting.

About PrivateBancorp, Inc.

PrivateBancorp, Inc., through its subsidiaries, delivers customized business and personal financial services to middle-market companies, as well as business owners, executives, entrepreneurs and families in all of the markets and communities it serves. As of March 31, 2012, the Company had 34 offices in 9 states and $12.6 billion in assets. Our website is www.theprivatebank.com.

SOURCE PrivateBancorp, Inc.

Sun Bancorp Announces Results of 2012 Annual Meeting of Shareholders

Thu, 24 May 2012 21:14:31 +0000

Sun Bancorp Announces Results of 2012 Annual Meeting of Shareholders

PR Newswire

VINELAND, N.J., May 24, 2012 /PRNewswire/ -- Sun Bancorp, Inc. (NASDAQ: SNBC) reported that its 2012 Annual Meeting of Shareholders was held today. At the meeting, shareholders of the Company elected Bernard A. Brown, Wilbur L. Ross, Jr., Sidney R. Brown, Peter Galetto, Jr., Anne E. Koons, Jeffrey S. Brown, Eli Kramer, Thomas X. Geisel, Anthony R. Coscia, William J. Marino, Philip A. Norcross and Steven A. Kass as directors. Shareholders also approved the ratification of the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2012.

(Logo: http://photos.prnewswire.com/prnh/20120430/PH97193LOGO)

Sun Bancorp, Inc. (Nasdaq: SNBC) is a $3.11 billion asset bank holding company headquartered in Vineland, New Jersey, with its executive offices located in Mt. Laurel, New Jersey. Its primary subsidiary is Sun National Bank, a full service Commercial Bank serving customers through 65 locations. Sun National Bank was named one of Forbes Magazine's "Most Trustworthy Companies" for five years. The Bank is an Equal Housing Lender and its deposits are insured up to the legal maximum by the Federal Deposit Insurance Corporation (FDIC). For more information about Sun National Bank and Sun Bancorp, Inc., visit www.sunnb.com.

The foregoing material contains forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially, and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

SOURCE Sun Bancorp, Inc.

QB Jake Delhomme Joins MidSouth Bank Board as Advisory Director

Thu, 24 May 2012 20:57:16 +0000

QB Jake Delhomme Joins MidSouth Bank Board as Advisory Director

PR Newswire

LAFAYETTE, La., May 24, 2012 /PRNewswire/ --MidSouth Bancorp, Inc. ("MidSouth") (NYSE MKT: MSL) today announced Lafayette great-turned-NFL quarterback Jake Delhomme was named Advisory Director at MidSouth Bank by the bank's Board of Directors Wednesday.

(Photo: http://photos.prnewswire.com/prnh/20120524/DA13583)

(Logo: http://photos.prnewswire.com/prnh/20100125/MIDSOUTHLOGO)

"The MidSouth Bank Board, like anyone who knows Jake, has long been impressed by his energy, enthusiasm and drive," said MidSouth Bank President and Chief Executive Officer Rusty Cloutier. "Never has anyone been told 'no' so many times and proven people wrong so many times as Jake Delhomme."

Cloutier also said the bank plans to utilize the leadership skills Delhomme honed on the football field to inspire and encourage young leaders at the bank and to instill a strong work ethic in them.

MidSouth Bank Board Chairman Will Charbonnet explained that financial institutions commonly use advisory directors, or consulting directors, as a useful resource for the elected board. He said they provide additional business and professional expertise and often serve as goodwill ambassadors in the bank's market. "Jake is an accomplished athlete and avid horseman who has a tremendous following and network of contacts, and we could not be more proud to have someone of his caliber represent our financial institution in every community we serve," Charbonnet commented.

The only true freshman quarterback to start for a Division I school in 1993, Delhomme had a passer efficiency rating that ranked second among NCAA freshmen quarterbacks. On the field with Delhomme when the Ragin' Cajuns won the Big West Conference twice, and finished with three winning seasons, were NFL wide receiver Brandon Stokley and offensive lineman Anthony Clement.

"The 29-22 victory Jake led the Cajuns to over Texas A&M in 1997, during his senior year, is still the biggest moment in UL history for so many of us diehard fans," Cloutier said. "The goal posts came down, and the entire city celebrated for what seemed like months. Well, let's just say it ranks right up there with the Cajuns' bowl victory last year."

Delhomme was signed by the New Orleans Saints as an undrafted free agent in 1997 and went on to a successful career with the Carolina Panthers, where he holds multiple franchise records and led the team to Super Bowl XXXVIII in 2003, setting a Super Bowl record for his 85-yard touchdown pass. It was the longest offensive play from scrimmage in Super Bowl history. Despite his personal success in the game-- 16-of-33 for 323 yards, three passing touchdowns, no interceptions, and a 113.6 passer rating -- the Panthers lost to the New England Patriots on a last-minute field goal. Two years later, the Breaux Bridge native was named to the Pro Bowl.

Delhomme signed a two-year deal with the Cleveland Browns in March 2010 and was picked up by the Houston Texans last year. He is now a free agent.

About MidSouth Bancorp, Inc.

MidSouth Bancorp, Inc. is a bank holding company headquartered in Lafayette, Louisiana, with assets of $1.4 billion as of March 31, 2012. Through its wholly owned subsidiary, MidSouth Bank, N.A., MidSouth offers a full range of banking services to commercial and retail customers in Louisiana and Texas. MidSouth Bank has 40 banking centers in Louisiana and Texas and is connected to a worldwide ATM network that provides customers with access to more than 43,000 surcharge-free ATMs. Additional corporate information is available at www.midsouthbank.com.

SOURCE MidSouth Bancorp, Inc.

Dime Savings Bank of Williamsburgh's Application to Convert to New York State Charter Approved by New York State Department of Financial Services

Thu, 24 May 2012 20:35:00 +0000

The Dime Savings Bank of Williamsburgh (the "Bank"), a subsidiary of Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the "Company"), announced that its application to convert from a federally-chartered stock savings bank to a New York State-chartered stock savings bank (the "Application") has been approved by the New York State Department of Financial Services ("NYSDFS").

The Application still requires approval from the Federal Deposit Insurance Corporation ("FDIC"). Should such approval be granted, the NYSDFS will serve as the Bank's primary regulator and the FDIC will serve as the Bank's primary federal regulator.

The Company will continue to be regulated as a savings and loan holding company by the Federal Reserve Board, which regulates both bank holding companies and savings and loan holding companies.

ABOUT THE COMPANY AND THE BANK
The Company (NASDAQ: DCOM) had $4.02 billion in consolidated assets as of March 31, 2012, and is the parent company of the Bank. The Bank was founded in 1864, is headquartered in Brooklyn, New York, and currently has twenty-six branches located throughout Brooklyn, Queens, the Bronx and Nassau County, New York. More information on the Company and Dime can be found on the Dime's Internet website at www.dime.com.

For further information, contact:
Kenneth J. Mahon
First Executive Vice President & Chief Financial Officer
718-782-6200 extension 8265

CEB's Day to "Get Out and Give Back" Results in 10,000 Hours of Service Globally

Thu, 24 May 2012 20:30:00 +0000

CEB's Day to "Get Out and Give Back" Results in 10,000 Hours of Service Globally

More than 1800 staff in 14 Cities Around the World Bring Company's Spirit of Generosity to Communities in Need

PR Newswire

ARLINGTON, Va., May 24, 2012 /PRNewswire/ -- Corporate Executive Board (CEB) (NYSE: EXBD), a leading research and advisory services company, held its second-annual Global Service Day to allow employees to "Get Out and Give Back." In 14 cities, from Chicago to London to Singapore to its headquarters in Washington, DC, CEB closed its doors for the day so that more than 1,800 employees could actively partner with organizations selected for their ability to directly impact local communities.

(Photo: http://photos.prnewswire.com/prnh/20120524/PH13735)

In one day, CEB staff tackled a range of projects for 20 service organizations to benefit migrant women, underprivileged students, historic sites and disabled children. The dedicated day of service brought the company's Spirit of Generosity – a CEB core value—to life in the communities where the company's employees live and work. CEB volunteers constructed an outdoor classroom, refurbished historic gardens, coached at-risk youth and conducted financial education training for women in need.

CEB's Global Service Day represents one important component of the company's philanthropic efforts. For more than 25 years, CEB and its staff have dedicated significant financial and in-kind resources to a broad set of charitable organizations – promoting innovation and community building and enabling entrepreneurship in the public sector.

"We are proud to continue our Global Service Day tradition, which provides a unique opportunity for our staff to bring CEB's Spirit of Generosity to life while expanding the company's global philanthropic reach," said Tom Monahan, CEB Chairman and CEO. "Through our work across four continents, seven countries and with more than 10,000 hours of service, Global Service Day allows us to bring positive social change and to enrich communities where our employees and business partners live and work."

Building on the momentum and significant impact CEB made with its inaugural Global Service Day in 2011, the company partnered with the several non-profit organizations, including:

Aidha is a social enterprise dedicated to enriching the lives of migrant women through financial education. (Singapore, Singapore)
City Year unites young people to keep students in school and on track to graduation. (Chicago, Ill., London, UK, San Francisco, Calif. and Washington, DC)
Evergreen is a community environmental center that inspires and equips visitors to live, work and play more sustainably. (Toronto, Canada)
Food Link NY serves to end hunger, build self-sufficiency, and foster nutritional wellness. (Rochester, N.Y.)
Frankfurter Tafel e.V. is a food bank operating in the heart of Frankfurt´s poorest neighborhoods. (Frankfurt, Germany)
Habitat for Humanity works to eliminate poverty housing and to make decent, affordable shelter for all people. (Minneapolis, Minn.)
Network for Teaching Entrepreneurship (NFTE) develops programs that inspire young people to stay in school, to recognize business opportunities and to plan for successful futures (Boston, Mass.)
Sankalp School serves the impoverished local population in Gurgaon. (Gurgaon, Haryana, India)
Variety NSW: The Children's Charity aims to empower children who are sick, disadvantaged or have special needs to encourage independence and increase self-esteem.(Sydney, Australia)

About Corporate Executive Board
By identifying and building on the proven best practices of the world's best companies, Corporate Executive Board (CEB) helps senior executives and their teams drive corporate performance. CEB offers comprehensive data analysis, research and advisory services that align to executive leadership roles and key recurring decisions. CEB tools, insights, and analysis empower member companies to focus efforts, move quickly, and address emerging and enduring business challenges with confidence. CEB's client and member network includes 85 percent of the Fortune 500, 50 percent of the Dow Jones Asian Titans, and 70 percent of the FTSE 100. It spans more than 50 countries, 5,700 individual organizations, and 240,000 business professionals. For more information, visit www.executiveboard.com.

SOURCE Corporate Executive Board

BMO Bank of Montreal Decreases Mortgage Rates

Thu, 24 May 2012 20:21:09 +0000

BMO Bank of Montreal announced today it is changing its residential mortgage rates, effective May 25, 2012.

"BMO continues to encourage Canadian homeowners to take on a mortgage amortization of 25 years or less. Shortening the amount of time you carry mortgage debt should be a priority for any homeowner, as it saves thousands of dollars in interest rates over the life of the mortgage and ensures Canadians can begin building equity in their home sooner," said Martin Nel, Vice President, Lending and Investment Products, BMO Bank of Montreal.

The new rates are:

Fixed Rates:	To:		Change:
5 year fixed closed	5.34	%	-0.10	%
5 year low rate fixed closed	3.39	%	-0.10	%

The interest rate for a fixed rate mortgage is calculated half-yearly not in advance.

Rates are subject to change without notice. Offers may be withdrawn or extended without notice. Mortgage funds must be advanced within 90 days of the application.

For news media enquiries, please contact:
Matthew Duffin, Toronto
416-867-3996
matthew.duffin@bmo.com
Ronald Monet, Montreal
514-877-1873
ronald.monet@bmo.com
Laurie Grant, Vancouver
604-665-7596
laurie.grant@bmo.com
Internet: www.bmo.com

Aircastle Announces Authorization of Share Repurchase Program

Thu, 24 May 2012 20:15:00 +0000

Aircastle Announces Authorization of Share Repurchase Program

PR Newswire

STAMFORD, Conn., May 24, 2012 /PRNewswire/ -- Aircastle Limited (NYSE: AYR) ("Aircastle") announced today that the Company's Board of Directors authorized the repurchase of up to $50 million of the Company's common shares. Under the program, the Company may purchase its common shares from time to time in the open market or in privately negotiated transactions. The amount and timing of the purchases will depend on a number of factors including the price and availability of the Company's common shares, trading volume and general market conditions. The Company may also from time to time establish a trading plan under Rule 10b5-1 of the Securities Exchange Act of 1934 to facilitate purchases of its common shares under this authorization.

About Aircastle Limited

Aircastle Limited is a global company that acquires, leases and sells high-utility commercial jet aircraft to airlines throughout the world. As of March 31, 2012, Aircastle's aircraft portfolio consisted of 145 aircraft and had 65 lessees located in 34 countries.

Safe Harbor

Certain items in this press release and other information we provide from time to time, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not necessarily limited to, statements relating to our ability to acquire, sell, lease or finance aircraft, raise capital, pay dividends, and increase revenues, earnings, EBITDA and Adjusted Net Income and the global aviation industry and aircraft leasing sector. Words such as "anticipates," "expects," "intends," "plans," "projects," "believes," "may," "will," "would," "could," "should," "seeks," "estimates" and variations on these words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of factors that could lead to actual results materially different from those described in the forward-looking statements; Aircastle Limited can give no assurance that its expectations will be attained. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. Factors that could have a material adverse effect on our operations and future prospects or that could cause actual results to differ materially from Aircastle Limited's expectations include, but are not limited to, significant capital markets disruption and volatility, and the significant contraction in the availability of bank financing which may adversely affect our continued ability to obtain additional capital to finance our working capital needs; volatility in the value of our aircraft or in appraisals thereof, which may, among other things, result in increased principal payments under our term financings and reduce our cash flow available for investment or dividends; general economic conditions and business conditions affecting demand for aircraft and lease rates; our continued ability to obtain favorable tax treatment in Bermuda, Ireland and other jurisdictions; our ability to pay dividends; high or volatile fuel prices, lack of access to capital, reduced load factors and/or reduced yields, operational disruptions or unavailability of capital caused by political unrest in North Africa, the Middle East or elsewhere, uncertainties in the Eurozone arising from the sovereign debt crisis and other factors affecting the creditworthiness of our airline customers and their ability to continue to perform their obligations under our leases; termination payments on our interest rate hedges; and other risks detailed from time to time in Aircastle Limited's filings with the Securities and Exchange Commission ("SEC"), including "Risk Factors" as previously disclosed in Aircastle's 2011 Annual Report on Form 10-K, and in our other filings with the SEC, press releases and other communications. In addition, new risks and uncertainties emerge from time to time, and it is not possible for Aircastle to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. Aircastle Limited expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

For more information on Aircastle, please visit www.aircastle.com.

Contact:
Frank Constantinople – SVP, Investor Relations
Tel: +1-203-504-1063
fconstantinople@aircastle.com

The IGB Group
Leon Berman
Tel: +1-212-477-8438
lberman@igbir.com

SOURCE Aircastle Limited

China Kanghui Holdings Reports First Quarter 2012 Financial Results

Thu, 24 May 2012 20:05:00 +0000

China Kanghui Holdings Reports First Quarter 2012 Financial Results

1Q12 Net Revenue Increased 21.6% Year-Over-Year

1Q12 Net Income Increased 35.0% Year-Over-Year

PR Newswire

CHANGZHOU, China, May 24, 2012 /PRNewswire-Asia/ -- China Kanghui Holdings (NYSE: KH) ("Kanghui" or the "Company"), a leading domestic developer, manufacturer and marketer of orthopedic implants in China, today announced its unaudited financial results for the first quarter of 2012.

First Quarter 2012 Highlights

Total net revenue for the first quarter of 2012 increased by 21.6% year-over-year to RMB82.7 millionfrom RMB68.0 million in the corresponding period of the prior year.
Gross profit for the first quarter of 2012 increased by 20.3% year-over-year to RMB58.6 million from RMB48.7 million in the corresponding period of the prior year.
Operating income for the first quarter of 2012 increased by 5.7% year-over-year to RMB31.5 millionfrom RMB29.8 million in the corresponding period of the prior year.
Net income for the first quarter of 2012 increased by 35.0% year-over-year to RMB29.7 million from RMB22.0 million in the corresponding period of the prior year.
Non-GAAP[1] net income for the first quarter of 2012 increased by 39.7% year-over-year to RMB32.7 million from RMB23.4 million in the corresponding period of the prior year.

Mr. Libo Yang, Chief Executive Officer of the Company, stated, "We are very pleased that Kanghui once again delivered another strong quarterly financial performance in the first quarter of 2012, marking the seven consecutive strong quarter since our IPO. We focused strategically on growing our brand in the important China market, and thereby continued to expand our market share along with our robust domestic revenue growth in the first quarter of 2012. During the quarter, we successfully launched a new spine product that is seeing very good market uptake, and we experienced significant growth in both our trauma and spine segments."

Ms. Sarah Wang, Chief Financial Officer of Kanghui, commented, "Our strong first quarter financial results reflect our ability to consistently execute on our growth strategy. Leveraging our strong cash position and consistently positive cash flows, we further enhanced our competitive advantages by expanding our professional management team, domestic distribution network, and development of a broader product line. We are excited with having a very promising new product pipeline that we intend to launch during the remainder of 2012 and beyond."

First Quarter 2012 Financial and Operating Results

Net revenue increased by 21.6% year-over-year to RMB82.7 million ($13.1 million)[2] in the first quarter of 2012 from RMB68.0 million in the corresponding period of the prior year. Net revenue from trauma products increased by 22.9% year-over-year to RMB51.6 million ($8.2 million) in the first quarter of 2012 from RMB42.0 million in the corresponding period of the prior year. Net revenue from spine products increased by 34.9% year-over-year to RMB25.9 million ($4.1 million) in the first quarter of 2012 from RMB19.2 million in the corresponding period of the prior year. Net revenue from OEM products decreased by 23.5% year-over-year to RMB5.2 million ($0.8 million) in the first quarter of 2012 from RMB6.8 million in the corresponding period of the prior year. Domestic sales of proprietary products increased by 28.5% year-over-year to RMB64.4 million ($10.2 million) in the first quarter of 2012 from RMB50.1 million in the corresponding period of the prior year, while international sales of proprietary products increased by 18.0% year-over-year to RMB13.1 million ($2.1 million) in the first quarter of 2012 from RMB11.1 million in the corresponding period of the prior year.

In the first quarter of 2012, cost of revenue increased by 24.9% year-over-year to RMB24.1 million ($3.8 million) from RMB19.3 million in the corresponding period of the prior year. Gross profit increased by 20.3% year-over-year to RMB58.6 million ($9.3 million) in the first quarter of 2012 from RMB48.7 million in the corresponding period of the prior year. Gross margin for the first quarter of 2012 was 70.9%, compared to 71.6% in the corresponding period of the prior year.

Selling expenses increased by 40.0% year-over-year to RMB9.8 million ($1.6 million) in the first quarter of 2012 from RMB7.0 million in the corresponding period of the prior year. General and administrative expenses increased by 36.5% year-over-year to RMB14.2 million ($2.3 million) in the first quarter of 2012 from RMB10.4 million in the corresponding period of the prior year. Research and development expenses increased by 106.7% year-over-year to RMB3.1 million ($0.5 million) in the first quarter of 2012 from RMB1.5 million in the corresponding period of the prior year.

Operating income increased by 5.7% year-over-year to RMB31.5 million ($5.0 million) in the first quarter of 2012 from RMB29.8 million in the corresponding period of the prior year. Operating margin decreased to 38.1% in the first quarter of 2012 from 43.8% in the corresponding period of the prior year.

Income tax expense in the first quarter of 2012 was RMB6.3 million ($1.0 million), representing an effective tax rate of 17.7%, compared to an income tax expense of RMB9.0 million in the corresponding period of the prior year.

Net income was RMB29.7 million ($4.7 million) in the first quarter of 2012, representing a year-over-year increase of 35.0% from RMB22.0 million in the corresponding period of the prior year. On a diluted per ADS[3] basis, the Company reported net income per diluted ADS of RMB1.15 ($0.18) in the first quarter of 2012, compared to a net income per diluted ADS of RMB0.87 in the corresponding period of the prior year.

Non-GAAP net income, which excludes share based compensation expenses, increased by 39.7% to RMB32.7 million ($5.2 million) from RMB23.4 million in the corresponding period of the prior year. The Company reported non-GAAP net income per diluted ADS of RMB1.26 ($0.20) in the first quarter of 2012, compared to a non-GAAP net income per diluted ADS of RMB0.93 in the corresponding period of the prior year.

During the first quarter of 2012, the Company had a weighted average diluted share count of 155.0 million shares (equivalent to 25.8 million ADSs), compared to 150.9 million shares (equivalent to 25.2 million ADSs) in the corresponding period of the prior year.

Balance Sheet

As of March 31, 2012, the Company had cash and cash equivalents of RMB324.2 million ($51.5 million), compared to RMB380.1 million as of December 31, 2011. As of March 31, 2012, the Company held short-term investments of RMB111.9 million ($17.8 million), compared to RMB77.0 million as of December 31, 2011.

Business Outlook

Mr. Yang added, "The strong first quarter provides us with good momentum for the remainder of 2012. Following our successful launch of a new spine product in the first quarter, we are launching one additional spine product in the second quarter, and two new trauma products and three new joint products in the second half of 2012. With our new joint products in place, we expect to kick start our reconstructive joint segment in the second half of 2012, which we believe can become a major revenue driver of the Company going forward."

The Company reiterates that it anticipates revenue for full year 2012 will be in the range of RMB392 million to RMB403 million, which represents year-over-year growth of 20% to 23%. The Company also estimates its full year 2012 non-GAAP net income to be in the range of RMB146 million to RMB153 million.

Non-Cash Share-Based Compensation Expenses Discussion

The Company recognized non-cash share-based compensation expenses of RMB3.0 million ($0.5 million) in the first quarter of 2012.

The Company classified these non-cash share-based compensation expenses in its costs of revenue, selling expenses, general and administrative expenses as well as in research and development expenses. The break out of these expenses per line item is provided in the financial tables attached to this press release.

The Company has provided a non-GAAP presentation of results which excludes the non-cash share-based compensation expenses. Please refer to the non-GAAP presentation provided in the appendix for a year-over-year comparison of non-cash share-based compensation expenses. The Company believes that this non-GAAP presentation is a helpful tool for the Company to plan and forecast future periods and both management and investors benefit from referring to such non-GAAP presentation in assessing the performance of the Company.

Conference Call

Kanghui will hold a corresponding conference call and live webcast at 8:00 a.m. ET (8:00 p.m. Beijing Time) on Friday, May 25, 2012 to discuss first quarter 2012 results and answer questions from investors. Listeners may access the call by dialing:

US Toll Free:	1-866-519-4004
US Toll/International:	1-718-354-1231
Hong Kong Toll Free:	800-930-346
Hong Kong Toll:	852-2475-0994
China Toll Free:	800-819-0121
China Toll Free (Mobile):	400-620-8038
Conference ID:	76263126

A replay of the webcast will be accessible through June 1, 2012 on http://ir.kanghui.com or by dialing:

United States toll free:	+1-866-214-5335
US Toll/International:	+1-718-354-1232
Passcode:	76263126

About China Kanghui Holdings

Founded in 1997, Kanghui is a leading domestic developer, manufacturer and marketer of orthopedic implants in China. The Company offers a wide array of proprietary orthopedic implant products in trauma and spine, and has an extensive nationwide network of distributors for its products in China, as well as in 29 other countries. Kanghui has strong research and development capabilities, focused on developing new proprietary products and product lines, and enhancing existing products and product lines. For more information, please visit www.kanghui.com.

Use of Non-GAAP Financial Measures

The Company has included non-GAAP financial measures in this press release. Non-GAAP financial measures are defined as GAAP gross profit excluding non-cash share-based compensation expenses, operating income excluding non-cash share-based compensation expenses, net income excluding non-cash share-based compensation expenses, net margin excluding non-cash share-based compensation expenses, basic earnings per share and per ADS excluding non-cash share-based compensation expenses, and diluted earnings per share and per ADS excluding non-cash share-based compensation expenses. The Company believes that management and investors benefit from referring to the non-GAAP financial measures in assessing the performance of the Company and when planning and forecasting future periods. These non-GAAP operating measures are useful for understanding and assessing underlying business performance and operating trends. The use of non-GAAP financial measures has limitations and readers should not consider non-GAAP financial measures in isolation from or as alternatives to consolidated financial metrics prepared in accordance with U.S. GAAP. Readers are encouraged to refer to the reconciliation of non-GAAP measures to GAAP measures included herein.

Safe-Harbor Statement

This press release contains statements of a forward-looking nature, including, among other things, the Company's unaudited operating results for 2012, new product introductions and the respective timetable, the demand for joint reconstruction products in China, future prospects of the Company and the ability for the Company to realize its business plans for 2012. These forward-looking statements are not historical facts but instead represent only the Company's belief regarding expected results and events, many of which, by their nature, are inherently uncertain and outside of the Company's control. The actual results and other circumstances of the Company may differ, possibly materially, from the anticipated results and events indicated in these forward-looking statements. Announced results for the first quarter of 2012 are preliminary, unaudited and subject to audit adjustment. Adjustments to the financial statements may be identified when audit work is performed for the year-end audit, which could result in significant differences from this preliminary unaudited financial information. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including certain plans, expectations, goals, and projections, which are subject to numerous assumptions, risks, and uncertainties. These forward-looking statements may include, but are not limited to, statements containing words such as "may," "could," "would," "plan," "anticipate," "believe," "estimate," "predict," "potential," "expects," "intends" and "future" or similar expressions. These forward-looking statements speak only as of the date of this press release and are subject to change at any time. These forward-looking statements are based upon management's current expectations and are subject to a number of risks, uncertainties and contingencies, many of which are beyond the Company's control that may cause actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. The Company's actual results could differ materially from those contained in the forward-looking statements due to a number of factors, including the Company's beliefs regarding its strengths and strategies; the Company's ability to expand its international business; the Company's ability to develop and successfully market new products in China and internationally; the Company's current expansion strategy, including its ability to expand its manufacturing and research and development facilities and capabilities and the Company's future prospects, business development, results of operations and financial condition. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's annual report on Form 20-F for the fiscal year 2011, as filed with the Securities and Exchange Commission on April 30, 2012, and are available on the Securities and Exchange Commission's website at www.sec.gov. For additional information on these and other important factors that could adversely affect our business, financial condition, results of operations, and prospects, please see "Risk Factors" that begins on page 6 of the Company's annual report for fiscal year 2011 and in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission, which can be found on the Company's website at www.kanghui.com or at www.sec.gov.

Contact Information

China Kanghui Holdings Investor Relations Department
+1-888-321-2558

Asia Bridge Capital Limited
Carene Toh
+86-186 1835 6339
carene.toh@asiabridgegroup.com

China Kanghui Holdings
Summary - First Quarter 2012
(RMB in thousands, except for per share data and per ADS data)
	Three Months Ended March 31,
	2011	2012
	Unaudited	Unaudited
Net revenue	67,975	82,713
Gross profit	48,716	58,572
Non-GAAP gross profit	48,766	58,605
Operating income	29,804	31,486
Non-GAAP operating income	31,221	34,447
Net income attributable to China Kanghui Holdings	21,969	29,709
Non-GAAP net income	23,386	32,670
Earnings per share -basic	0.16	0.21
Earnings per share -diluted	0.15	0.19
Earnings per ADS -basic	0.96	1.27
Earnings per ADS -diluted	0.87	1.15
Non-GAAP earnings per share -basic	0.17	0.23
Non-GAAP earnings per share -diluted	0.16	0.21
Non-GAAP earnings per ADS -basic	1.03	1.40
Non-GAAP earnings per ADS -diluted	0.93	1.26

*- Revenue By Product Category*
Trauma	42,030	51,572
Spine	19,194	25,893
OEM	6,751	5,248
*- Revenue by Business Sector*
Domestic	50,109	64,316
International	11,115	13,149
OEM	6,751	5,248

China Kanghui Holdings
Consolidated Balance Sheets
(Expressed in thousands)
	As of December 31, 2011	As of March 31, 2012
	RMB	RMB	US$
	Audited	Unaudited	Unaudited
Assets
Current assets:
Cash and cash equivalents	380,092	324,202	51,481
Bills receivable	5,873	3,052	485
Short-term investments	76,998	111,862	17,763
Accounts receivable, net	87,578	110,445	17,538
Inventories, net	110,907	126,007	20,009
Prepayments and other current assets	13,428	13,763	2,185
Deferred tax assets	9,090	10,583	1,681
Amount due from related parties	5,672	6,803	1,080
Total current assets	689,638	706,717	112,222

Non-current assets:
Property, plant and equipment, net	259,825	319,232	50,692
Intangible assets, net	62,026	60,889	9,669
Prepaid land lease payments	22,812	22,690	3,603
Goodwill	155,341	155,341	24,667
Long-term investment	25,204	25,190	4,000
Deposits for non-current assets	4,731	6,331	1,005
Deferred tax assets	2,444	2,465	391
Other assets, non-current	257	135	21
Total non-current assets	532,640	592,273	94,048
Total assets	1,222,278	1,298,990	206,270

Liabilities and equity
Current liabilities:
Accounts payable	19,278	21,220	3,370
Accrued expenses and other liabilities	65,388	105,321	16,724
Income tax payable	5,800	8,378	1,330
Uncertain tax positions	4,197	4,152	659
Amount due to related parties	1,137	1,312	208
Total current liabilities	95,800	140,383	22,291

Non-current liabilities:
Deferred government grants	6,409	6,290	999
Deferred tax liabilities	14,857	14,666	2,329
Total non-current liabilities	21,266	20,956	3,328
Total liabilities	117,066	161,339	25,619

Equity:
Ordinary shares (par value of US$0.001 per share; 1,000,000,000 shares authorized as of December 31, 2011 and March 31, 2012 (unaudited); 140,401,842 shares issued and outstanding as of December 31, 2011 and 140,569,926 shares issued and outstanding as of March 31, 2012 (unaudited))	1,022	1,023	162
Additional paid-in capital	912,972	916,316	145,505
Accumulated other comprehensive loss	(19,604)	(19,646)	(3,120)
Statutory reserves	45,417	45,417	7,212
Retained earnings	156,387	186,096	29,551
Total China Kanghui Holdings shareholders' equity	1,096,194	1,129,206	179,310
Non-controlling interests	9,018	8,445	1,341
Total equity	1,105,212	1,137,651	180,651
Total liabilities and equity	1,222,278	1,298,990	206,270

China Kanghui Holdings
Consolidated Statements of Comprehensive Income
Expressed in thousands, except for number of shares and per share data
	Three Months Ended March 31,
	2011	2012
	RMB	RMB	US$
	Unaudited	Unaudited	Unaudited

Net revenue	67,975	82,713	13,134
Cost of revenue	(19,259)	(24,141)	(3,833)
Gross profit	48,716	58,572	9,301

Operating expenses
Selling expenses	(6,988)	(9,760)	(1,550)
General and administrative expenses	(10,422)	(14,207)	(2,256)
Research and development expenses	(1,502)	(3,119)	(495)
Operating income	29,804	31,486	5,000
Interest income	1,719	3,867	614
Government grants	2,706	151	24
Other income	145	485	77
Other expenses	(397)	(357)	(57)
Foreign exchange loss	(3,008)	(171)	(27)
Income before income taxes	30,969	35,461	5,631
Income taxes	(8,982)	(6,324)	(1,004)
Net income	21,987	29,137	4,627
Net (income) loss attributable to non-controlling interests	(18)	572	91
Net income attributable to China Kanghui Holdings	21,969	29,709	4,718

Earnings per share
Basic	0.16	0.21	0.03
Diluted	0.15	0.19	0.03

Shares used in earnings per share computation
Basic	136,828,869	140,440,413	140,440,413
Diluted	150,864,399	155,007,387	155,007,387

Other comprehensive loss, net of tax[4]
Foreign currency translation adjustment	(203)	(42)	(7)
Total other comprehensive loss, net of tax	(203)	(42)	(7)
Comprehensive income attributable to China Kanghui Holdings	21,766	29,667	4,711

Share-based compensation charges incurred during the period related to:

Cost of revenue	50	33	5
Selling expenses	112	136	22
General and administrative expenses	1,207	2,762	439
Research and development expenses	48	30	5
Total	1,417	2,961	471

China Kanghui Holdings
Reconciliations of Non-GAAP Results to GAAP Results of Operations
(RMB in thousands, except for share, ADS, per share data and per ADS data)
	Three Months Ended March 31,
	2011	2012
	Unaudited	Unaudited

Net revenue	67,975	82,713

Non-GAAP net income	23,386	32,670
Non-GAAP net margin	34.4%	39.5%
Share-based compensation	(1,417)	(2,961)
GAAP net income	21,969	29,709
GAAP net margin	32.3%	35.9%

Non GAAP earnings per share -basic	0.17	0.23
Non GAAP earnings per share -diluted	0.16	0.21
Non GAAP earnings per ADS -basic	1.03	1.40
Non GAAP earnings per ADS -diluted	0.93	1.26

GAAP earnings per share -basic	0.16	0.21
GAAP earnings per share -diluted	0.15	0.19
GAAP earnings per ADS -basic	0.96	1.27
GAAP earnings per ADS -diluted	0.87	1.15

Shares used in computation of:
Basic earnings per share	136,828,869	140,440,413
Diluted earnings per share	150,864,399	155,007,387
Basic earnings per ADS	22,804,812	23,406,736
Diluted earnings per ADS	25,144,067	25,834,565

Non-GAAP operating income	31,221	34,447
Non-GAAP operating margin	45.9%	41.6%
Share-based compensation	(1,417)	(2,961)
GAAP operating income	29,804	31,486
GAAP operating margin	43.8%	38.1%

Non-GAAP gross profit	48,766	58,605
Non-GAAP gross margin	71.7%	70.9%
Share-based compensation	(50)	(33)
GAAP gross profit	48,716	58,572
GAAP gross margin	71.7%	70.8%

[1] All non-GAAP measures exclude share-based compensation expenses. For further details on non-GAAP measures, please refer to the reconciliation tables and a detailed discussion of the Company's use of non-GAAP information set forth elsewhere in this press release.

[2] This announcement contains translations of certain Renminbi ("RMB") amounts into US dollars ("$") at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to US dollars as of and for the quarter ended March 31, 2012 were made at the noon buying rate of RMB6.2975 to $1.00 on March 30, 2012 in the City of New York for cable transfers in Renminbi per US dollar as certified for customs purposes by the Federal Reserve Bank of New York. The Company makes no representation that the Renminbi or US dollar amounts referred to in this press release could have been or could be converted into US dollars or Renminbi, at any particular rate or at all.

[3] Each of the Company's American Depositary Shares ("ADS"), which are traded on New York Stock Exchange, represents six of the Company's ordinary shares.

[4] Beginning in the first quarter 2012, in accordance with Accounting Standards Update 2011-05, the Company is presenting other comprehensive income and its components in the unaudited condensed consolidated Statement of Comprehensive Income. Other comprehensive income mainly consists of currency translation adjustments relating to translating some of our subsidiaries' financial statements from their functional currency to our reporting currency, which is in the United States dollar. The functional currency of our main subsidiaries in China is the RMB.

SOURCE China Kanghui Holdings

Putnam Announces Dividend Rates for Open-End Fund

Thu, 24 May 2012 19:11:00 +0000

The Trustees of The Putnam Funds have declared the following distribution.


	RECORD	PAYMENT
FUND NAME AND DISTRIBUTIONS	DATE	DATE

Putnam Retirement Income Lifestyle 1 Fund - Class A Shares (PRMAX)
$0.0050 per share investment income	05/25/12	05/30/12

Putnam Shareholders Contact
1-800-225-1581

Zions Direct Announces FDIC-Insured CD Auction Results through May 22, 2012

Thu, 24 May 2012 19:10:00 +0000

Zions Direct Announces FDIC-Insured CD Auction Results through May 22, 2012

Results for Auctions of FDIC-insured Certificates of Deposit through May 22, 2012

PR Newswire

SALT LAKE CITY, May 24, 2012 /PRNewswire/ -- Zions Direct, the online broker-dealer that allows its customers to purchase FDIC – insured Certificates of Deposit in its daily web-based auctions, announces its weekly auction results. In auctions closed from May 16, 2012 to May 22, 2012, investors purchasing FDIC-insured CDs in the auctions received average yields 0.33 percentage points, or 33 basis points, higher than average yields on similar CDs as reported in Informa Research Services Top 50 National APYs, May 22, 2012.

(Logo: http://photos.prnewswire.com/prnh/20110914/SF68814LOGO)

Zions Direct regularly publishes data from CDs auctioned at Zions Direct Auctions compared against similar securities offered in the marketplace in their Market Snapshot. Since February 2007, Zions Direct has auctioned over 1.1 billion dollars in more than 5,000 fixed-income auctions.

ZIONS DIRECT AUCTIONS MARKET SNAPSHOT

FDIC-Insured Certificate of Deposit Data*

	1 Mo	2 Mo	3 Mo	6 Mo	9 Mo	1 Yr
Zions Direct Auction CDs	0.92%	0.51%	0.57%	0.50%	0.59%	0.57%
Informa Top 50 National APYs			0.13%	0.20%		0.31%

Zions Direct / National APY Difference			0.44%	0.30%		0.26%

Total Average Difference (basis points): 33

For more information on Zions Direct and the Market Snapshot go to zionsdirect.com to sign up to receive the free weekly newsletter or visit think.zionsdirect.com to view a Market Snapshot archive.

THE INFORMATION INCLUDED IS NOT INTENDED TO SERVE AS THE BASIS FOR INVESTMENT DECISIONS. PAST PERFORMANCE IS NOT AN INDICATION OF FUTURE RESULTS.

*See Additional Disclaimer for data source information.

About Zions Direct

Zions Direct is a broker-dealer that specializes in offering securities for self-directed and fixed income-focused investors. Zions Direct allows retail investors to buy FDIC-insured certificates of deposit, corporate and municipal bonds, and other investment products through their web-based Bond Store and auction platforms. In addition, clients can invest in stocks, mutual funds, and exchange-traded funds online or through a Zions Direct financial representative.

Investment products and services offered through Zions Direct, member of FINRA/SIPC, a non-bank subsidiary of Zions Bank are NOT insured by the FDIC or any federal or state governmental agency, are NOT deposits or other obligations of, or guaranteed by, Zions Bancorporation or its affiliates, and MAY be subject to investment risks, including the possible loss of principal value or amount invested. FDIC-insured CDs are insured up to $250,000 per individual account holder per bank.

Additional Disclaimer

Zions Direct Auction CD yields are from auctions ending May 16, 2012 to May 22, 2012. A weighted average is calculated when multiple CDs of similar terms are sold through platform. FDIC-insured CDs with terms of 1 month are noted as 1 month; 2 months are noted as 2 months; 3 – 4 months are noted as 3 months; 5 – 7 months as 6 months; 8 – 10 months as 9 months; 11 – 17 months as 1 year; 18 – 29 months as 2 year; 48 – 71 months as 5 years.

Top 50 National APYs – Top 50 U.S. bank and thrift holding companies by deposits. CD Rates Average APYs are based on certificate of deposit accounts for $25,000. Copyright 2012 Informa Research Services, Inc as a part of their Interest Rate Review – Retail. Report dated May 22, 2012.

SOURCE Zions Direct