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FOREIGN TRUST TO BUY 1.5 MILLION SHARES OF PRINCETON ELECTRONIC PRODUCTS STOCK

 PHOENIX, Aug. 17 /PRNewswire/ -- Princeton Electronic Products Inc. (NASDAQ: PELT), a 24-year-old, diversified holding company, today announced that it has entered into an agreement with a trust owned by non-U.S. entities, whereby the trust will acquire 1,500,000 shares of Princeton Electronic Products. These shares will be acquired under exemption from registration as promulgated by Regulation S of the Securities Act of 1933 as enacted.
 The trust company will acquired said shares in whole or part through payment of cash for an initial 25,000 shares and thereafter a minimum of 5,000 shares increments through payment of cash in U.S. dollars at a price of $1.25 per share. At least $250,000 of purchases and possibly up to $500,000 will be made before Dec. 31, 1993, with the remainder no later than Dec. 31, 1994, purchased as necessary up to a maximum of 1,500,000 shares.
 "The capital raised from this transaction will enable Princeton to continue to create greater shareholder value through strategic acquisitions," said Dale Eyman, chairman of the board of Princeton.
 Princeton Electronic Products Inc., headquartered in Phoenix, specializes, through its subsidiaries, in innovative products, financial services and venture capital.
 -0- 8/17/93
 /CONTACT: Dale E. Eyman, CEO of Princeton Electronic Products, 800-966-7865; or Shannon T. Squyres, president of Corporate Relations Group, 714-955-1860, for Princeton Electronics Products/
 (PELT)


CO: Princeton Electronics Products Inc. ST: Arizona IN: CPR SU:

MF-JL -- LA011 -- 3420 08/17/93 09:06 EDT
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Publication:PR Newswire
Date:Aug 17, 1993
Words:248
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