ATHLONE PURCHASES WARRANT
ATHLONE PURCHASES WARRANT PARSIPPANY, N.J., Nov. 15 /PRNewswire/ -- Athlone Industries, Inc.
(NYSE: ATH) announced today that it has purchased a warrant held by an insurance company to buy 412,472 shares of Athlone's common stock. This will reduce the total number of shares of Athlone's outstanding common stock and common stock equivalents. Athlone has 6,005,152 shares of common stock outstanding.
Earlier this year, the company retired its high yield preferred stock and debentures in the approximate amount of $5 million which were subject to sinking fund or mandatory redemption provisions. These transactions will enhance the future value of the company's common stock. -0- 11/15/91 /CONTACT: Gary Cademartori, treasurer of Athlone, 201-887-9100 or 212-425-6550/ (ATH) CO: Athlone Industries Inc. ST: New York IN: CST SU: TS-FC -- NY049 -- 1537 11/15/91 12:17 EST
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|Date:||Nov 15, 1991|
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