NASDAQ Set to Delist PacNet
Asia-facing e-biz solutions provider PacificNet (NASDAQ: PACT) said that on March 30 it had received notification from the NASDAQ stock exchange that its common stock was subject to delisting due to the withdrawal of its audit reports for its financial 2004 and 2005 financial statements. The company said it plans to appeal the ruling and will request a hearing before the NASDAQ Listing Qualifications Panel, which would automatically stay the suspension and delisting pending a review. In a prepared statement, PacNet said that its audit committee was conducting an internal investigation into its option granting practices for 2003, 2004 and 2005 in an effort to resolve the issue.
Casino Fund Gains Ground in First Year of Trading
In its first year of operation, the Ladenburg Thalmann Gaming and Casino Fund (NASDAQ: GACFX) gained 8.1 percent for the 12-month period ending March 30, 2007. "While the Fund's full year performance was satisfactory, I realize that a number of gaming stocks have pulled back in early 2007," said portfolio manager Dan Aherns. "I think there are some excellent buying opportunities and expect solid gaming growth with a number of new properties opening this year." The fund invests in casinos, gaming manufacturers, pari-mutuel companies and lottery support systems, as well as electronic and video game developers, manufacturers and distributors. It is the only U.S. mutual fund to specialize in the gaming and casino industries.
Bill Hill CEO Exercises Option, Sells Shares
William Hill (WMH.L) said on Tuesday that its CEO, David Harding, had exercised and award over 385,000 ordinary company shares under the executive director incentive plan and sold them at 648.5p each.