UCFC rights offering

UCFC rights offering

youngstown

United Community Financial Corp., parent company of the Home Savings and Loan Co., announced Monday that it will conduct a rights offering of common shares up to $5 million to existing shareholders.

Under the terms of the rights offering, all record holders of the company’s common shares as of March 21 will receive, at no charge, the right to acquire 0.055 UCFC common shares for each UCFC common share held as of the record date.

Rights holders will have the opportunity to purchase shares in excess of their basic subscription rights, subject to availability. Final terms will be announced, and the rights offering will begin as soon as possible after it is reviewed by the U.S. Securities and Exchange Commission.

Ribbon-cutting set

Warren

The Best Western Park Hotel at 136 N. Park Ave. will have a ribbon-cutting today at 11 a.m. to mark the formal unveiling of the newly renovated hotel.

After purchasing the facility in May 2011, its owner, Ashok Patel, planned to renovate it completely. The project was completed Jan. 21.

The hotel features 53 guest rooms, including one suite with a whirlpool. Other amenities include a full hot breakfast daily and a fitness center.

EU bans ingredients tested on animals

BRUSSELS

The European Union banned the sale of new cosmetic products containing ingredients tested on animals with immediate effect Monday.

Animal-rights groups were quick to cheer the measure, but Cosmetics Europe, a trade body representing the EU’s $93 billion industry, said the ban “acts as a brake on innovation.”

Vindicator staff/wire reports