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ARVIN ANNOUNCES PROGRAM FOR ODDLOT SHAREHOLDERS

 COLUMBUS, Ind., Nov. 23 /PRNewswire/ -- Arvin Industries, Inc. (NYSE: ARV), today announced an extension to the voluntary program announced Oct. 22, 1993, through which all shareholders owning fewer than 100 shares of Arvin common stock may sell all of their shares, conveniently by mail.
 Details of the extension period are explained in the letter being distributed by mail to shareholders from Arvin's president and CEO. A copy of this letter follows.
 Arvin Industries, Inc., is a Fortune 250 company supplying automotive parts and related products and services throughout the world.
 Byron O. Pond, president and CEO of Arvin Industries, Inc., sent the following letter, dated today, to shareholders of the company:
 ANNOUNCING AN EXTENSION OF ARVIN INDUSTRIES, INC. LOW-COST SELLING
 PROGRAM FOR HOLDERS OF FEWER THAN 100 COMMON SHARES
 The Program's Extension Period Will Expire on December 20, 1993
 Arvin Industries, Inc. is pleased to extend its voluntary program through which shareholders owning fewer than 100 Common Shares may conveniently sell their shares.
 As I indicated in my letter of October 22, we value the loyalty of all of our shareholders. However, we believe that many shareholders holding fewer than 100 shares may wish to sell these shares but find it inconvenient or relatively costly to do so. This extension will allow shareholders additional time to participate in the voluntary program.
 Shareholders who elect to participate in the program from November 23, 1993 through December 20, 1993 (the "Extension Period") will have the share price based on the average of the closing market prices established during the Extension Period. Other than that, all other terms and conditions of the program remain the same as detailed in the October 22 Letter to Shareholders and its accompanying materials. A new Letter of Transmittal is enclosed for your convenience if you wish to participate in the program. Extension Period payment checks for tendered shares will be mailed on or about December 30, 1993.
 Your decision whether to participate will depend on your individual circumstances and investment goal. Neither Arvin Industries nor the program manager makes any recommendation as to whether or not you should participate in this program. A 50-cent per share processing fee is being charged to defray the costs associated with the program.
 If you have any questions about the program or would like additional information or a copy of the original program materials, please call the program manager, Shareholder Communications Corporation, toll-free, at 1- 800-733-1665.
 If you have already responded to the program, please disregard this communication.
 -0- 11/23/93
 /CONTACT: John W. Brown of Arvin Industries, Inc., 812-379-3389/
 (ARV)


CO: Arvin Industries, Inc. ST: Indiana IN: AUT SU:

AR-BU -- CL017 -- 7350 11/23/93 15:02 EST
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Publication:PR Newswire
Date:Nov 23, 1993
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