BROAD INC. SHAREHOLDERS APPROVE NAME CHANGE TO 'SUNAMERICA'
LOS ANGELES, Jan. 29 /PRNewswire/ -- Shareholders at today's annual meeting of Broad Inc. (NYSE: BRO) approved changing the company's name to "SunAmerica Inc." The change will take effect on Feb. 1 and the company's stock will begin trading under the NYSE ticker symbol "SAI" on Feb. 2. "Since 1989, we've used the SunAmerica name as a registered service mark to market our products and services to the growing preretirement savings market," said Eli Broad, chairman, president and chief executive officer. "By unifying our corporate name with our identity in the financial services marketplace, we expect to strengthen our impact with all audiences." In other actions, shareholders also approved proposals to increase the number of authorized shares of preferred stock from 7 million to 20 million and to increase the number of shares of common stock available for issuance under the company's 1988 Employee Stock Plan. The SunAmerica companies market fixed and variable annuities, mutual funds, private investment counseling and retirement trust services to the preretirement market. Assets owned or under management at Dec. 31, 1992, exceeded $16 billion. -0- 1/29/93 /CONTACT: Pat Harden or Tim McGarry of Broad, 310-312-5000/ (BRO)
CO: Broad Inc.; SunAmerica Inc. ST: California IN: FIN SU:
JL-JB -- LA037 -- 0978 01/29/93 17:38 EST
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|Date:||Jan 29, 1993|
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