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ALLIS-CHALMERS SHAREHOLDERS APPROVE 1-FOR-15 STOCK SPLIT

 ALLIS-CHALMERS SHAREHOLDERS APPROVE 1-FOR-15 STOCK SPLIT
 MILWAUKEE, June 17 /PRNewswire/ -- Holders of a majority of the


outstanding shares of Allis-Chalmers Corporation common stock voted today in favor of a 1-for-15 reverse stock split, as previously indicated, the company announced today.
 The approval, in accordance with Delaware corporation law, occurred at a special meeting of shareholders in New York City.
 Allis-Chalmers said the reverse stock split will enable it to reduce the administrative costs associated with the large number of shareholders who now hold fewer than 15 shares. The company at present has 15,164,195 shares, par value $0.01 per share, issued and outstanding owned by approximately 17,799 shareholders. After the split, the company estimates there will be 1,006,400 shares of new common stock, par value $0.15 per share, issued and outstanding that will be owned by approximately 7,412 shareholders.
 -0- 6/17/92
 /CONTACT: Dennis Thisted of Allis-Chalmers, 414-475-3343/ CO: Allis-Chalmers Corporation ST: Wisconsin IN: SU:


LR-TQ -- NY068 -- 1216 06/17/92 16:25 EDT
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Publication:PR Newswire
Date:Jun 17, 1992
Words:172
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