Noma on hunt for buyer or partner

Article Abstract:

Noma Industries Ltd., a Toronto, Ontario-based electrical wire company, has announced plans to look for a buyer or partner as a way to improve the price of its undervalued shares. Noma President and Chief Executive Officer Catherine Beck said the company's share price has been too low and does not reflect the true value of the firm. Noma's current market value is approximately C$233 million, based on its recent share price in the Toronto Stock Exchange. Some analysts, including Richard Millham of Research Capital Corp. in Vancouver, British Columbia, believe that Noma's decision to either sell or enter into a strategic alliance was unexpected since it has been performing strongly, particularly after its 1997 restructuring efforts. Noma makes electrical products, such as industrial wiring.

Comment:

Announces plans to look for a buyer or a strategic partner as a way to improve the price of its undervalued shares

Strategy & planning, Commercial & Institutional Lighting, Commercial, Industrial, and Institutional Electric Lighting Fixture Manufacturing, Commercial lighting, Noma Industries Ltd.

---

Ohio's Banc One setting up Canadian credit card unit

Article Abstract:

Banc One Corp., based in Ohio, is planning to establish a credit card unit in Ottawa, Ontario, a venture that will result in 600 jobs in four years. Banc One's Canadian unit, Banc One International, will open an office in Ottawa in fall to offer Visa cards to Canadians and there will also be a development office to be set up in Toronto, Ontario. The company is considering to target a specific group of consumers and offer them special incentives. The credit cards will be marketed mainly via direct mail or through the Internet and should lure customers with low interest rates and affinity deals.

Comment:

Is planning to establish credit card unit in Ottawa, Ontario, a venture that will result in 600 jobs in 4 years

Commercial Banking, Labor force information, Bank Credit Cards, Parent-to-subsidiary activities, Banc One Corp.

---

OSC shuts firm for unlicensed currency trading

Article Abstract:

Koman Info-Link Inc., an investment services provider headquartered in Toronto, Ontario, has been ordered to close down its operations by the Ontario Securities Commission. The order was spurred by the company's conduct of foreign currency trading operations without the requisite license to do so. The agency maintains that the firm, which is owned and operated by Simon Ko, has failed to secure the necessary license to offer foreign currency investment contracts. The Ontario Securities Commission is also considering plans to terminate the firm's authority to engage in securities trading.

Comment:

Has been ordered to close down its operations by Ontario Securities Commission over unlicensed foreign currency trading

Securities Dealers, Investment Banking and Securities Dealing, Government regulation (cont), Koman Info-Link Inc.

Similar abstracts:

• Abstracts: GM shops suppliers for spare parts. GM pushes for deal, but progress is slow
• Abstracts: Phonettix founder regains control of firm. Geac to acquire Britain's JBA. Sadler to leave Geac board, stirring speculation about a deal
• Abstracts: YBM'S largest shareholder pushes to replace board. RioCan accuses realfund of delay. Cambridge and partner name mega-mall tenants
• Abstracts: Native company sues ATB for $13.7-million. Big Bear to file for CCAA protection
• Abstracts: Newbridge turns profit in quarter. Nortel to quit Belleville operations

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.