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VERTEX INDUSTRIES DELAYS PREVIOUSLY ANNOUNCED STOCK SPLIT

 CLIFTON, N.J., Oct. 6 /PRNewswire/ -- Vertex Industries, Inc. today announced that it must change the effective and pay dates of its recently announced split of its common stock on a 2:1 basis in order to get shareholder approval to change the par value of its common stock and increase the number of authorized shares. It is anticipated, given shareholder approval, that the new record date will be Nov. 22 and the pay date will be Nov. 29.
 Commenting on this announcement, James Q. Maloy, president, said, "We will seek shareholder approval for these actions as soon as possible in order to keep the stock price at a favorable level for small investors and to increase the number of shares in the float." Management has no reason to believe that shareholder approval will not be forthcoming.
 -0- 10/6/93
 /CONTACT: James Q. Maloy, president of Vertex Industries, 201-777-3500, or John Swanson of Swanson Communications, 212-683-4890/


CO: Vertex Industries, Inc. ST: New Jersey IN: SU: OFR

SH-TS -- NY025 -- 9232 10/06/93 09:53 EDT
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Publication:PR Newswire
Date:Oct 6, 1993
Words:176
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