paul.nowak wrote: Matt, thanks for the comments. I made an error on the version of Plone. It's 2.5 Plone running on Zope 2.9x.
In regards to the additional products, we have a skin installed and we have a product that we had custom developed for us that connects to a PostgreSQL database. We've looked at slow PostgreSQL queries causing problems and have not been able to find an issue. We've also tested for the case where the PostgreSQL server is down and have not been able to create an issue. We therefor...
HOUSTON, TX -- (MARKET WIRE) -- 04/09/07 -- The Board of Directors of Trico Marine
Services, Inc. (NASDAQ: TRMA) today adopted a three year stockholder rights
plan designed to ensure that all Trico stockholders realize the fair value
of their investment. The plan is designed to guard against any abusive
actions that may be attempted in order to gain control of Trico without
compensating all stockholders for that control. The rights plan will not
prevent a takeover of the Company but should encourage anyone seeking to
acquire the Company to negotiate with the Board of Directors prior to
attempting a takeover. Trico will request that its stockholders ratify the
rights plan at its 2008 Annual Meeting. Subject to an affirmative
stockholder vote at that meeting, the rights plan will expire in 2010.
Trico's rights plan includes a number of features intended to reflect
progressive corporate governance practices. Among other features, the plan
provides that it will not apply to a "Qualified Offer" if the majority of
the "Disinterested Shares" so vote at a special meeting. Any holder of at
least 10 percent of the outstanding common stock can request the Board hold
such a special meeting in the event a Qualified Offer is made.
A "Qualified Offer" is one that, among other things, is made to all
stockholders on the same terms, is made for all shares, is fully financed
(if it is a cash offer), is for registered stock, tradable on an
established market similar to the NASDAQ Global Market (if it is a stock
offer), and is not subject to due diligence. "Disinterested Shares" are
those held by persons other than management and the board of directors of
the Company, and stockholders who have made or publicly announced an
intention to make proposals to acquire the Company or are seeking to
influence control of the Company.
"The Board of Directors believes that the rights plan safeguards the full
value of all of our stockholders' investments and encourages any potential
acquirers or others to negotiate with the Board to reach an acceptable
offer for all stockholders," said Joseph Compofelice, Chairman of the Board
of Directors. "The plan is in no way designed to prevent a fair takeover
for Trico, but rather is designed to deter coercive or abusive takeover
practices and to ensure that our stockholders obtain a fair price and
receive equal treatment in the event of a takeover. It was also important
to us that the disinterested stockholders be given the right to vote on the
plan so that they can determine for themselves whether it is in their best
interests."
The plan is not expected to have any effect on the trading of the Company's
common stock, reported earnings or cash flow per share unless, following
certain events, the rights separate from the underlying common shares and
become exercisable.
The rights will be exercisable only if a person or group acquires 15
percent or more of Trico's common stock, a level that both protects
stockholders' interests and reduces the likelihood of impairing Trico's net
operating loss utilization, or commences a tender offer, the consummation
of which would result in ownership of 15 percent or more of the common
stock. In such circumstances, each right will initially entitle
stockholders to buy one one-thousandth of a share of a new series of junior
participating preferred stock at an exercise price of $52.00. However, if
an acquiring person actually acquires 15 percent or more of Trico's common
stock, stockholders will then be able to exercise each right to receive,
upon payment of the exercise price, shares of common stock having a market
value equal to twice the exercise price. An acquiring person will not be
entitled to exercise any rights. Trico's current holder of more than 15
percent of its common stock will not trigger the rights plan so long as it
does not acquire beneficial ownership of additional shares in an amount
that exceeds .1% of the then outstanding common stock.
In connection with the plan adoption, the board of directors declared a
dividend distribution of one preferred share purchase right on each
outstanding share of Trico common stock. The dividend distribution will be
made on April 19, 2007, payable to stockholders of record on that date, and
is not taxable to stockholders.
Additional information regarding the plan will be sent to stockholders and
are included in a Report on Form 8-K to be filed with the Securities and
Exchange Commission.
About Trico
Trico provides a broad range of marine support services to the oil and gas
industry, primarily in the North Sea, Gulf of Mexico, West Africa, Mexico,
Southeast Asia (through its partnership) and, to a lesser extent, Brazil.
The services provided by the Company's diversified fleet of vessels include
the transportation of drilling materials, supplies and crews to drilling
rigs and other offshore facilities; towing drilling rigs and equipment from
one location to another; and support for the construction, installation,
repair and maintenance of offshore facilities. Trico has its principal
office in Houston, Texas.
For more information about Trico Marine Services, Inc. visit us on the web
at www.tricomarine.com.
Certain statements in this press release that are not historical fact may
be "forward-looking statements." Actual events may differ materially from
those projected in any forward-looking statement. There are a number of
important factors involving risks and uncertainties beyond the control of
the Company that could cause actual events to differ materially from those
expressed or implied by such forward-looking statements. A description of
risks and uncertainties relating to Trico Marine Services, Inc. and its
industry and other factors, which could affect the Company's results of
operations or financial condition, are included in the Company's Securities
and Exchange Commission filings. Trico undertakes no obligation to publicly
update or revise any forward-looking statements to reflect events or
circumstances that may arise after the date of this press release.
Contact:
Geoff Jones
Vice President and Chief Financial Officer
(713) 780-9926