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Show A. National Enterprise , August , 7976 Page nine Ground Broken for Beehive Medical Facility Newport Clinches $1.5 Million Pact til I. NEWPORT BEACH, Canada, Glasky said. New- Calif Newport Pharmaceut- port owns 50 percent of Newporicals International, Inc.(OTC t-Eaton Labs and will own 5.875, 6.25) has recently 49 percent of the Canadian completed a series of agree- company. Newport has cer- SALT sells pharmaceutical, consumer, food, speciality, chem- ical and industrial products throughout the world. Their sales for the fiscal year ended tain rights to purchase June 30 wjere $538,425,000. Morton-Norwic- h s interest in Among their widely known these joint venture companies products are Morton Salt, and should Newport become Pepto-Bismo- l, Unguentine, the sole owner, Morton-Norwic- h Simoniz, Fantastic, and Janwill have the right to itor in a Drum. market the drug in the United States. ments with Morton-Norwic- h Products, Inc. of Chicago. President of Newport, Alvin J. Glasky, reported that Morton-Norwic- h has made an investment in Newport of SI. 5 million in exchange for 150,000 shares of a new Series A5 Cumulative Convertible Newport and Morton-Norwic- h Preferred Stock, convertible at have also entered Morton-Norwich into a technical cooperation $10 per share. becomes the holder of agreement whereby Morton-Norwic- h will assume responsapproximately 2 percent of ibility for payment of clinical Newports stock. The two companies have expenses incurred in the also formed a new jointly further testing of Isoprinosine owned California company, and will pay Newport certain Newport-Eato- n Laboratories, service fees. Inc. which will be responsible Glasky said this series of for the development and agreement with Morton-Norwic- h will provide Newport future marketing of Isoprino-sina Newport drug, and with both financial support other possible products in the and marketing expertise. Morton-Norwic- h is a United States. comA similar joint venture large company is being formed in pany that manufactures and Uf i4 motia flam LAKE CITY Beehive Medical Electronics (OTC 7.75, 8.25) has broken ground for its ncwr 80,000 square foot headquarter facility near the Salt Lake Internation Airport. The $2.3 million project, covering nine acres, will consolidate the manufacturing, quality control, field service, warehousing, marketing, en gineering, research and administration departments under one roof. Operations are presently accomplished in five buildings totaling 48,000 square feet. Construction is expected to be completed by the end of this calendar year, according to Beehive president Warren Clifford. Security Brokers, Dealers, Corporate Officials, Attorneys. e, multi-division- ' t . f ' ' l 1 f al SEC Proposes New Tender Offer Rules Companies making a tender advance notice of offers for offer for the stock of another their stock. The commission concern would get access to believes such notice would the target companys stock- sharply tip federal regulation holder list under regulations against tender offerers, to the proposed by the Securities and disadvantage of investors. Exchange Commission last week. SEC staff layers who developed the proposals say, concern Congressional however, the proposed new that current SEC rules dont rules shouldnt be viewed as demand enough disclosure seeking to favor either side in about the nature and makers a tender offer. Rather, they of tender offers is one factor say, the use of the stockholder behind the SECs tender pro- list would enable the chalposals. Congress wants more lengers to reach small shareprotection for U.S. companies holders who otherwise might against foreign not learn of the offer. take-over- s. With its new rules, the SEC is trying to stave off pending legislation that would require challengers to give target companies 60 days The proposal provides that: A tender offer would Continued on Page Ten hand for sweaty palms A helping Juristics Securities Law Seminars help you avoid problems under securities regulations. Theyre education on tape to protect you and your clients. Compiete, current, concise seminars covering the field of Securities Law, you learn at your leisure from experts. Listen and learn while you commute to the office, while you have lunch, in the evenings as you relax at home. 12 Cassette Seminars in handsome album with compendium the small investment of only $1 00.00. Any one of the 1 2 sessions could save you many times its modest cost. All for ( ' Oil & Gas News JURISTICS Send for your Juristics Securities Law Seminars now. NEW DRILLING SPACING PATTERN SET FOR PINEVIEW FIELD t J t ' C g I s The Utah Board of Oil, Gas and Mining, Department of Natural Resources, has set spacing for development drilling to the Nugget- - (Jurassic formation pay zones) in Utahs Pineview field at 80 acres. Champlin Petroleum requested the 80 acre pattern for the Summit County field and the board also included the Twin Creek formation on its own motion. The new spacing replaces the 160 acre drilling pattern previously in force in the field and became effective immediately after the hearing which was held in Salt Lake City, July 28. Carlton Stowe, minerals specialist. Utah Geological & Mineral Survey notes that the order will now allow for additional drilling to get underway in the field area. Operators will now be able to drill a well in the center of the northwest and southeast quarters of each quarter section. The action should allow about a double drilling rate for the area where already four wells are producing. 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