INVESTMENT PROPERTIES INTERNATIONAL ANNOUNCES NINTH SHAREHOLDERS' LIQUIDATION DISTRIBUTION
INVESTMENT PROPERTIES INTERNATIONAL ANNOUNCES NINTH
SHAREHOLDERS' LIQUIDATION DISTRIBUTION
TORONTO, Nov. 21 /PRNewswire/ -- Investment Properties International, Limited (IPI), an Ontario-registered member of what was the I.O.S. group of companies, today announced the approval of a ninth liquidating distribution of (U.S.) $0.60 per share on the 10,810,811 shares outstanding. This will bring the total distribution to date to (U.S ) $15.10 per share. The liquidator of IPI, Price Waterhouse partner Alexander D. Mackay, said that total distributions to shareholders now exceed (U.S.) $163 million.
The liquidator has succeeded in locating the holders of approximately 96.5 per cent of the outstanding shares in over 75 countries. The holders of the remaining 370,000 IPI shares have not been located; distributions payable on these shares amount to (U.S.) $5.6 million. Because the majority of shares issued were bearer shares, the number of shareholders with title to these shares is not known, shareholders who have not come forward to claim their distributions should do so immediately by writing to the liquidator at Box 190, 1 First Canadian Place, Toronto, Ontario, Canada, M5X 1H7.
/CONTACT: Alexander D. Mackay or John Harty of Price Waterhouse, 416-863-1133/ CO: Investment Properties International, Limited ST: Ontario IN: SU: DIV SM -- NY097 -- 6053 11/21/91 16:22 EST