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FARRAGUT MORTGAGE CO. ANNOUNCES SPECIAL MEETING TO APPROVE REVERSE STOCK SPLIT

 FARRAGUT MORTGAGE CO. ANNOUNCES SPECIAL MEETING TO APPROVE
 REVERSE STOCK SPLIT
 MANSFIELD, Mass., Jan. 16 /PRNewswire/ -- Farragut Mortgage Co. Inc. announced today that it plans to call a meeting of its stockholders on Jan. 30, 1992, to approve a 1-for-2.53837 reverse stock split in anticipation of the proposed public offering of its common stock announced yesterday. The 1.2 million shares to be sold in connection with the offering at an anticipated initial public price of between $6 and $7 per share have been adjusted for the proposed reverse stock split.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 1/16/92
 /CONTACT: Edward D. Lagarde, president and chief executive officer of Farragut Mortgage, 508-337-8605/ CO: Farragut Mortgage Co. Inc. ST: Massachusetts IN: FIN SU:


SH -- NE004 -- 0379 01/16/92 09:44 EST
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Publication:PR Newswire
Date:Jan 16, 1992
Words:225
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