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TCW Strategic Income Fund, Inc. (NYSE:TSI) announced that its Board of Directors declared a quarterly distribution of $0.0966 and a special year-end distribution of $0.5060 per share. The distributions are payable on January 13, 2012 to shareholders of record on December 30, 2011.
Founded in 1971, The TCW Group, Inc., develops and manages a broad range of innovative, value-added investment products that strive to enhance and protect clients’ wealth. The firm has approximately $118 billion in assets under management.
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Alliance Data Systems Corporation (NYSE:ADS), a leading provider of loyalty and marketing solutions derived from transaction-rich data, today announced that its board of directors has approved a new stock repurchase program to acquire up to $400 million of the Company’s common stock during 2012.
Alliance Data and its combined businesses is North America ’s largest and most comprehensive provider of transaction-based, data-driven marketing and loyalty solutions serving large, consumer-based industries.
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Majestic Gold Corp. (MJGCF)
Majestic Gold Corp. (MJGCF.PK) engages in the acquisition, exploration, and mining of precious metals in China. The company primarily explores for gold deposits. It holds interest in the Song Jiaguo Property located on the Jiaodong Peninsula in Muping County, the Shandong Province. The company is headquartered in Vancouver, Canada.
Ever since, people have found multiple uses to gold. If early civilizations used gold as a means to show their wealth, for personal adornment or for decorating places of worship, modern society uses it on a far larger scale. Gold is a soft metal with a characteristic yellow color. It is unaffected by air, water, alkalis and acids, with the exception of “aqua regia”, HNO3/HCl. The fact that it is chemically un-reactive means that it is often found in its natural state. Gold is a good thermal and electrical conductor and has excellent reflective properties to both light and infrared. It has abundance in the earth’s crust of 0.0011 ppm. Since its discovery, in ancient times, gold has become the first widely known metal and the most cherished among precious metals.
Gold has a remarkable presence in our society, whether we think of value, jewelry, computers, powerful engines or even medicines and food. Modern society has found multiple uses to gold. Many industrial branches have capitalized on its natural properties. Gold is used in the aircraft and spacecraft industries as well as in dentistry and photography. Gold threads give embroidery works a particular touch, while gold leaves and flakes are used to decorate luxury foods and drinks.
Majestic Gold Corp. (MJGCF.PK) has arranged a $10,000,000 loan to advance its Song Jiagou project in China. Nine million dollars ($9,000,000) from the proceeds from the loan will be used by the Company to in connection with its Song Jiagou project and the balance of one million dollars ($1,000,000) for general working capital purposes.
The loan will have a one year term and loan principal will be convertible at the option of the lender in whole or in part into common shares (”Shares”) of the Company until twelve months from the date of the loan advance at the price of $0.205 per Share. The loan will bear interest at the rate of 7.5% per annum, payable on maturity, and accrued and unpaid interest will be convertible at the option of the lender in whole or in part into shares of the Company until twelve months from the date of the loan advance at Market Price at the time of conversion.
The lender is at arm’s length from the Company and will not become an insider as a result of any conversion of principal and interest. All shares issued on any conversion of loan principal or interest will be subject to a four month hold period from the date of advance of loan proceeds. The loan is subject to acceptance by the TSX Venture Exchange.
As additional consideration for the loan, the Company has agreed to forward at least $9 million to Majestic Yantai Gold Ltd., a British Virgin Islands company owned 94% by the Company to be used to further advance its Song Jiagou project. The Borrower has also agreed to a 90 day period for reciprocal due diligence reviews and discussions for the possible further involvement of the Lender in the Song Jiagou project.
In the event that no further agreement is reached between the Lender and the Company during the 90 day period, then the loan and a minimum of seven (7) months interest will automatically convert to shares in the Company at a price of $0.205 per share and the interest at Market Price respectively. In addition the Company is pleased to announce that it has arranged a non-brokered private placement of up to 15,000,000 shares to be issued at the price of $0.20 per share for gross proceeds of $3,000,000.
For more information please visit official website of MJGCF.PK: http://www.majesticgold.net
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Diamondrock Hospitality Co. (NYSE:DRH) announced that its Board of Directors declared a quarterly dividend of $0.08 per share to stockholders of record as of December 30, 2011 . The dividend will be paid on January 10, 2012 .
DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of premium hotel properties.
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