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Oklahoma business briefs for June 4

Oklahoma business briefs for June 4, 2014
Oklahoman Published: June 4, 2014
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OKLAHOMA BRIEFS

Syntroleum finishes $35M sale

Syntroleum Corp. has completed the sale of its assets to a subsidiary of Renewable Energy Group Inc., the Tulsa-based company announced Tuesday. The deal, which was announced Dec. 17, was approved Tuesday by Syntroleum’s shareholders. Syntroleum received nearly 3.5 million shares of stock in Iowa-based REG, making the deal worth about $35 million. Syntroleum will voluntarily delist its stock from the NASDAQ Capital Market at the close of trading on Friday.

Continental to redeem notes

Continental Resources Inc. will redeem all of its outstanding 8.25 percent senior notes on July 11, the Oklahoma City-based oil producer announced Tuesday. The aggregate principal amount of those notes is $300 million.

Investment firm wins award

Local boutique investment firm Tom Johnson Investment Management was named Separately Managed Account Manager of the Year and presented the Fixed Income Manager Award by Envestnet Inc and Investment Advisor Magazine. “Tom Johnson Investment Management’s product not only achieved positive returns during what was a dismal year for fixed income, but also generated high returns over the past three- and five-year periods — which helped set the firm apart from some of the larger managers under consideration for the SMA Manager of the Year,” said Tim Clift, chief investment strategist of Envestnet. Tom Johnson Investment Management competed against more than 1,500 other firms in the Overall Managers category and 303 in the Fixed Income SMA Managers category. Founded in 1983, Tom Johnson Investment Management has more than $700 million dollars in assets in both fixed-income and equity.

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