Printer Friendly

THREE-FIVE SYSTEMS INC. CONVERTS CLASS A & CLASS C PREFERRED STOCK TO COMMON

 THREE-FIVE SYSTEMS INC. CONVERTS
 CLASS A & CLASS C PREFERRED STOCK TO COMMON
 PHOENIX, Aug. 10 /PRNewswire/ -- Three-Five Systems Inc. (AMEX: TFS.EC)(SM) announced today that all of the holders of the company's class A and class C preferred stock have indicated their intention to convert their shares to the company's common stock. This action follows the company's repurchase and retirement of its class B preferred stock from National Semiconductor (NYSE: NSM), reported last month.
 Prior to this conversion and last month's repurchase, the company had only 2,229,434 shares of common stock issued and outstanding, with another 1,258,629 shares of common stock equivalents underlying the preferred issue. With the preferred B repurchase, 482,500 of the 1,258,629 underlying shares of common stock were retired, leaving a net issuance of an additional 776,129 shares of common stock for the A and C conversion. When the conversion is completed the company will have a total of 3,005,563 shares of common stock issued and outstanding and all of the issued preferred will be retired.
 "The retirement of all of the company's preferred stock as a result of this conversion and the class B repurchase will not only simplify our capital structure, but it will also make more common stock available to the investing public," commented President, Chairman and Chief Executive Officer David R. Buchanan.
 Three-Five Systems is a leading display supplier to manufacturers of cellular telephones, communications systems, office automation equipment and medical devices. The company designs, manufactures and markets LED and LCD display systems and keypads as well as discrete optoelectronic components internationally. Worldwide headquarters are maintained in Phoenix with European headquarters located in Swindon, England. Manufacturing facilities include Manila, the Philippines, and the newly opened technology center in Phoenix. The technology center houses an LCD laboratory, clean room and assembly area for the production of prototypes and low-quantity manufacturing.
 -0- 8/10/92
 /CONTACT: David R. Buchanan, president, chairman and CEO, or Peg Breen, of Three-Five Systems, 602-496-0035/
 (TFS NSM) CO: Three-Five Systems Inc.; National Semiconductor ST: Arizona IN: CPR TLS SU:


JL -- LA011 -- 8489 08/10/92 11:43 EDT
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:Aug 10, 1992
Words:359
Previous Article:BDM DOUBLES ITS NET INCOME, EPS ON STRONG REVENUE GROWTH IN FIRST HALF, SECOND QUARTER
Next Article:TIE/COMMUNICATIONS TO SELL CANADIAN DISTRIBUTION BUSINESS
Topics:


Related Articles
A. O. SMITH CALLS PREFERRED STOCK FOR REDEMPTION
HARVARD AND DEBENTUREHOLDERS REACH REVISED AGREEMENT IN PRINCIPLE
THREE-FIVE SYSTEMS INC. PURCHASES CLASS B PREFERRED STOCK
CPT HOLDINGS CLASS A COMMON STOCK AND CLASS B COMMON STOCK CONVERTS INTO NEW COMMON STOCK TO BE INCLUDED IN NASDAQ SMALL CAP MARKET
INFOMED HOLDINGS, INC. TENDER OFFER EXPIRES
VARITY CORPORATION GIVES NOTICE OF PLAN TO REDEEM CLASS I CONVERTIBLE PREFERRED STOCK
HADSON ANNOUNCES CLOSING OF TRANSACTION WITH SANTA FE ENERGY
UVSG ANNOUNCES AGREEMENT WITH TCI
Schawk, Inc. Sells 3.0 Million Shares of Common Stock
Spieker FFO Per Share Up 15.7%; Roll-Over Rent Growth at 45%.

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