Shares of OM Group, Inc. (OMG) surged on Friday's trading session after FrontFour Capital Group LLC delivered a letter to the company, expressing serious concerns with OMG's performance and destruction of shareholder value.
FrontFour Capital, with ownership, together with its affiliates, of over 5% of OMG's outstanding shares, discussed in the letter, among other things, the clear trend of missed financial targets by OMG as evidenced by the material downward revision of EBITDA guidance twice during 2014 along with the reduction in long term revenue growth expectations
FrontFour Capital said that it is prepared to nominate three board members at the upcoming 2015 annual meeting of shareholders of the Company if it can’t reach an agreement with OMG on “necessary changes”. FrontFour Capital believes OMG is deeply undervalued and a clear path to value creation exists through a cost-cutting opportunity of at least $50 million, the release of $30 million in working capital and a $250 million stock buyback
OMG is a technology-driven diversified industrial company serving attractive global markets, including automotive systems, electronic devices, aerospace and defense, industrial and medical.
More about OM Group, Inc. (OMG) at www.omgi.com.
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EDAP TMS SA (EDAP) reported that its Focal One HIFU device has been approved by Health Canada. With this approval, EDAP is able to market the Focal One device for the treatment of prostate cancer in Canada.
This is the first regulatory approval for EDAP's Focal One device in the Americas. According to the company, in the 18 months since EDAP received EU marketing approval for Focal One, the technology has been adopted by some of Europe's leading prostate cancer Hospitals
EDAP markets Ablatherm(R) for high-intensity focused ultrasound (HIFU) treatment of localized prostate cancer. HIFU treatment is shown to be a minimally invasive and effective treatment option with a low occurrence of side effects. Ablatherm-HIFU is generally recommended for patients with localized prostate cancer (stages T1-T2) who are not candidates for surgery or who prefer an alternative option, or for patients who failed radiotherapy treatment. EDAP also develops its HIFU technology for the potential treatment of certain other types of tumors.
More about EDAP TMS SA (EDAP) at www.edap-tms.com
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Crown Equity Holdings Inc. (CRWE) is currently developing its CRWE Network ( www.CRWE-PR.com ), a growing network of community targeted sites.
It has recently included Moreno Valley ( www.morenovalley.crwe-pr.com ), the second most populous city in Riverside County, California to the CRWE Network.
Moreno Valley has attracted and developed several large employers and opportunities for development in a wide array of industries, including automotive, commercial/retail, hospitality, hospitals/medical, industrial/logistics and manufacturing.
The City of Moreno Valley had an estimated population in 2013 (U.S. Census Bureau) of 201,175, and represents an important marketplace for the CRWE Network, which business model is based on selling advertising to businesses targeting both locally and nationally
The CRWE Network has reached the 1487th community website in the U.S., associated with 3456 ZIP Codes, and includes coverage in the states of California, Mississippi, Michigan, Florida, Nevada and New York, as well as across 10 provinces in Canada.
CRWE provides marketing solutions that boost customer awareness and merchant visibility on the Internet
More about Crown Equity Holdings Inc. (CRWE) at www.crownequityholdings.com
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Disclaimer: CRWE-PR Finance ( www.finance.crwe-pr.com ) is not a registered investment adviser. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Investors should always conduct their own due diligence with any potential investment, with independent research and other professional advice. Read Full Disclaimer at CRWE-PR Finance www.finance.crwe-pr.com/disclaimer
FrontFour Capital, with ownership, together with its affiliates, of over 5% of OMG's outstanding shares, discussed in the letter, among other things, the clear trend of missed financial targets by OMG as evidenced by the material downward revision of EBITDA guidance twice during 2014 along with the reduction in long term revenue growth expectations
FrontFour Capital said that it is prepared to nominate three board members at the upcoming 2015 annual meeting of shareholders of the Company if it can’t reach an agreement with OMG on “necessary changes”. FrontFour Capital believes OMG is deeply undervalued and a clear path to value creation exists through a cost-cutting opportunity of at least $50 million, the release of $30 million in working capital and a $250 million stock buyback
OMG is a technology-driven diversified industrial company serving attractive global markets, including automotive systems, electronic devices, aerospace and defense, industrial and medical.
More about OM Group, Inc. (OMG) at www.omgi.com.
**
EDAP TMS SA (EDAP) reported that its Focal One HIFU device has been approved by Health Canada. With this approval, EDAP is able to market the Focal One device for the treatment of prostate cancer in Canada.
This is the first regulatory approval for EDAP's Focal One device in the Americas. According to the company, in the 18 months since EDAP received EU marketing approval for Focal One, the technology has been adopted by some of Europe's leading prostate cancer Hospitals
EDAP markets Ablatherm(R) for high-intensity focused ultrasound (HIFU) treatment of localized prostate cancer. HIFU treatment is shown to be a minimally invasive and effective treatment option with a low occurrence of side effects. Ablatherm-HIFU is generally recommended for patients with localized prostate cancer (stages T1-T2) who are not candidates for surgery or who prefer an alternative option, or for patients who failed radiotherapy treatment. EDAP also develops its HIFU technology for the potential treatment of certain other types of tumors.
More about EDAP TMS SA (EDAP) at www.edap-tms.com
**
Crown Equity Holdings Inc. (CRWE) is currently developing its CRWE Network ( www.CRWE-PR.com ), a growing network of community targeted sites.
It has recently included Moreno Valley ( www.morenovalley.crwe-pr.com ), the second most populous city in Riverside County, California to the CRWE Network.
Moreno Valley has attracted and developed several large employers and opportunities for development in a wide array of industries, including automotive, commercial/retail, hospitality, hospitals/medical, industrial/logistics and manufacturing.
The City of Moreno Valley had an estimated population in 2013 (U.S. Census Bureau) of 201,175, and represents an important marketplace for the CRWE Network, which business model is based on selling advertising to businesses targeting both locally and nationally
The CRWE Network has reached the 1487th community website in the U.S., associated with 3456 ZIP Codes, and includes coverage in the states of California, Mississippi, Michigan, Florida, Nevada and New York, as well as across 10 provinces in Canada.
CRWE provides marketing solutions that boost customer awareness and merchant visibility on the Internet
More about Crown Equity Holdings Inc. (CRWE) at www.crownequityholdings.com
**
Disclaimer: CRWE-PR Finance ( www.finance.crwe-pr.com ) is not a registered investment adviser. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Investors should always conduct their own due diligence with any potential investment, with independent research and other professional advice. Read Full Disclaimer at CRWE-PR Finance www.finance.crwe-pr.com/disclaimer
