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THE HAMMOND CO. CONCLUDES SELF-TENDER OFFER TO PURCHASE COMMON STOCK

THE HAMMOND CO. CONCLUDES SELF-TENDER OFFER TO PURCHASE COMMON STOCK
 NEWPORT BEACH, Calif., March 19 /PRNewswire/ -- The Hammond Co. (the "company") concluded its self-tender offer to purchase its common stock at 12 midnight, on Wednesday, March 18, 1992. Approximately 244,000 shares of common stock or 19 percent were tendered for a cash purchase of approximately $976,000 or $4 per share. The final determination of the number of shares tendered is subject to confirmation of the tenders by the company and the depositary. Payment for all properly tendered shares will occur immediately and be distributed as soon as practicable.
 The company also concluded the sale of 276,750 shares of Series A convertible preferred stock at $8.00 per share totaling $2,214,000. Members of the company's board of directors and related parties purchased 92,125 shares of the preferred stock for an aggregate purchase price of $737,000.
 All conditions of the tender offer have been completed including the reduction of the number of shareholders to less than 300. The company intends to delist as a publicly traded company on the NASDAQ National Market System and will cease to become an SEC reporting company pursuant to the Securities and Exchange Act of 1934.
 -0- 3/19/92
 /CONTACT: Thomas T. Hammond or Jonathan T. Bastis of The Hammond Co., 714-752-6671/ CO: The Hammond Co. ST: California IN: SU:


CH -- LA012 -- 9666 03/19/92 12:04 EST
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Publication:PR Newswire
Date:Mar 19, 1992
Words:240
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