Orient-Express Hotels Ltd. (NYSE:OEH) announced the closing of its previously announced public offering of 10,000,000 Class A common shares. The company also announced that the underwriters for the offering exercised in full their over-allotment option to purchase an additional 1,500,000 Class A common shares, bringing the total shares sold to 11,500,000 at a price of $10.75 per share for gross proceeds of $123.6 million. Orient-Express Hotels Ltd. received net proceeds of approximately $117.2 million, after deducting underwriting discounts and estimated offering expenses.
Orient-Express Hotels Ltd. and its subsidiaries operate principally in the leisure hospitality market. It owns and invests in individual deluxe hotels, restaurants, tourist trains, and river/canal cruise businesses. As of January 31, 2010, the company owned and managed 50 luxury hotel, restaurant, tourist train, and river cruise properties in 24 countries. It also engages in the real estate and residential property development.
Miller Industries Inc. (NYSE:MLR) recently reported about its subsidiary, Miller Industries Towing Equipment Inc., has been awarded orders to manufacture 250 recovery units for a prime contractor under a government-related order. These orders are scheduled to be delivered through the spring of 2011. Jeffrey I. Badgley, President and Co-CEO of the Company, stated, “We are pleased to have been awarded these orders, which we believe demonstrate the quality and adaptability of our commercial product offering, the flexibility of our production facilities and our ability to meet tight customer deadlines. The experience and strength of our engineering and production teams position us well to develop innovative products for our customers, and we will continue to seek orders of this kind going forward.”
Miller Industries, Inc. engages in the manufacture and sale of vehicle towing and recovery equipment in North America and internationally. It offers wreckers, including conventional tow trucks to large recovery vehicles used to recover and tow disabled vehicles and other equipment; car carriers, specialized flat-bed vehicles with hydraulic tilt mechanisms used to transport new or disabled vehicles and other equipment; and transport trailers.
Chico’s FAS Inc. (NYSE:CHS) previously announced that it has appointed Stephen E. Watson to its Board of Directors, effective November 18, 2010, increasing the total number of Board seats to nine. Mr. Watson was also appointed to the Board’s Audit Committee and Compensation and Benefits Committee. David F. Dyer, President & CEO commented, “We are very pleased to welcome Steve to the Board of Directors. Steve brings a wealth of knowledge that will be of great help as we continue our work to grow the Chico’s FAS family of brands.”
Chico’s FAS, Inc., together with its subsidiaries, operates as a specialty retailer of casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items. The company offers its products under the Chico’s, White House|Black Market (WH|BM), and Soma Intimates brand names. The Chico?s brand sells primarily private branded clothing focusing on women 35 and over. It offers accessories, such as handbags, belts, scarves, earrings, necklaces, and bracelets.
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