Printer Friendly

LTV CANNOT EXPLAIN RISE IN COMMON STOCK PRICE

 CLEVELAND, Jan. 22 /PRNewswire/ -- While the company does not normally respond to rumors or unusual trading patterns in its securities, The LTV Corporation (NYSE: QLTV) said today, in response to a New York Stock Exchange inquiry, that it cannot explain current heavy trading or the sudden rise in the price of its common and preferred stocks.
 As the company reported earlier this week, under terms of a proposed Chapter 11 Plan of Reorganization, the recovery for current holders of LTV common stock is expected to be approximately 3 cents per share. At midday to day, the common stock was trading above $1.50 per share.
 Under the proposed Reorganization Plan, the approximate anticipated recovery for each of the company's stock issues is as follows:
 Common 3 cents per share
 Class A Preferred 43 cents per share
 Class B Preferred 6 cents per share
 Class C Preferred 21 cents per share
 Class D Preferred 5 cents per share
 -0- 1/22/93
 /CONTACT: Charles M. Palmer of the LTV Corporation, 214-979-7941/
 (LTV)


CO: LTV Corporation ST: Texas IN: ARO SU:

SH -- NY049 -- 7961 01/22/93 13:57 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 22, 1993
Words:188
Previous Article:ORION CAPITAL CORPORATION ANNOUNCES RESULTS OF $2.125 PREFERRED STOCK REDEMPTION
Next Article:BATTERY TECHNOLOGIES INC. ISSUES STATEMENT ON TRADING IN ITS SHARES
Topics:


Related Articles
LTV FILES MODIFIED CHAPTER 11 PLAN OF REORGANIZATION
LTV REORGANIZATION PLAN SEEN AS MAJOR STEP FORWARD
LTV FILES DISCLOSURE STATEMENT AND MODIFIED PLAN OF REORGANIZATION
AMEX TO TRADE OPTIONS ON LTV CORPORATION ON OCT. 6
THE LTV CORPORATION ANNOUNCES STOCK OFFERING
LTV CORPORATION ANNOUNCES COMMON STOCK OFFERINGS
LTV CORPORATION ANNOUNCES QUARTERLY DIVIDEND PAYMENT
LTV Declares Common Stock Dividend
LTV Declares Common Stock Dividend
LTV Declares Common Stock Dividend

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters