Printer Friendly

NATIONAL HERITAGE REPORTS RESOLUTION OF AGREEMENT BETWEEN TWO LARGEST SHAREHOLDERS

 NATIONAL HERITAGE REPORTS RESOLUTION OF AGREEMENT
 BETWEEN TWO LARGEST SHAREHOLDERS
 DALLAS, Jan. 13 /PRNewswire/ -- National Heritage, Inc. (NYSE: NHR), announced today that its two largest shareholders, Southmark Corporation (NASDAQ: SMRK) and Pacific Standard Life Insurance Company, have finalized a previously reported agreement in settlement of certain preference and other claims in connection with the Southmark bankruptcy proceedings.
 In exercising its election under the agreement, Pacific Standard has elected to assign to Southmark certain of its claims arising out of the Southmark bankruptcy and, therefore, will not transfer to Southmark 4,825,000 shares of National Heritage common stock.
 National Heritage, Inc., is a leading manager of long-term care facilities for the elderly.
 -0- 1/13/92
 /CONTACT: Vicki Bolton of National Heritage, 214-233-3900/
 (NHR SMRK) CO: National Heritage, Inc.; Southmark Corporation;
 Pacific Standard Life Insurance Company ST: Texas IN: HEA SU:


GK -- NY019 -- 8970 01/13/92 09:38 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 13, 1992
Words:150
Previous Article:AFFYMAX N.V. ANNOUNCES RESEARCH COLLABORATION WITH SANDOZ PHARMA LTD.
Next Article:FUND-RAISER TO PAY $1,500 UNDER AGREEMENT WITH ATTORNEY GENERAL
Topics:


Related Articles
NATIONAL HERITAGE RECOMMENDS REJECTION OF WELCARE INTERNATIONAL TENDER OFFER
Allstate Life Announces Variable Annuity Transaction with Lincoln Financial Group.
Allstate Enters Fast Growing Insurance Worksite Marketing Arena With Acquisition of American Heritage Life Investment Corp.
American Heritage Life Agrees To Merge With Allstate Subsidiary.
American Heritage Life Investment Corporation Announces Record Second Quarter Earnings from Operations and Further Discusses Allstate Details.
pounds 8.3bn link-up; In association with RBS.
Friends and Resolution start pounds 8.3bn merger talks; LIFE INSURANCE.
Friends and Resolution in talks over pounds 8.3bn merger; In association with RBS.
Day of drama with bouncing three-way bids for Resolution; INSURANCE.
Major blow to Friends' bid to land Resolution; In association with RBS.

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