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HENLEY GROUP, HENLEY PROPERTIES TO MAIL JOINT PROXY STATEMENTS

 HENLEY GROUP, HENLEY PROPERTIES TO MAIL JOINT PROXY STATEMENTS
 HAMPTON, N.H., June 3 /PRNewswire/ -- The Henley Group, Inc. (NASDAQ: HENG) and Henley Properties Inc. (NASDAQ: HENP) expect to mail a joint proxy statement to their shareholders within two weeks, with shareholder meetings to occur approximately one month thereafter. The proxy seeks approval of the previously announced merger and recapitalization plan.
 The companies are cooperating fully with the Securities and Exchange Commission's review of the proxy, which was filed with the SEC April 2.
 Since filing the proxy, Henley Group has sold its remaining interests in Itel Corporation and Fletcher Challenge Ltd. for a total of $117 million in cash. In addition, term sheets for revised bank facilities have been negotiated for Abex Inc. and The Bolsa Chica Company, the proposed successors to Henley Group and Henley Properties.
 The merger and recapitalization plan was announced by Henley Group last Jan. 21, and the merger agreement was signed by Henley and Henley Properties on March 26.
 -0- 6/3/92
 /CONTACT: Norman Ritter of The Henley Group, 603-929-2322/
 (HENG HENP) CO: The Henley Group ST: New Hampshire IN: SU: TNM


CN -- NE014 -- 6762 06/03/92 17:18 EDT
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Publication:PR Newswire
Date:Jun 3, 1992
Words:198
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