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NUTMEG BOARD OKAYS 3-FOR-2 STOCK SPLIT

 NUTMEG BOARD OKAYS 3-FOR-2 STOCK SPLIT
 TAMPA, Fla., Dec. 18 /PRNewswire/ -- The board of directors of


Nutmeg Industries, Inc. (NYSE: NTM) today approved a three-for-two split of the company's common stock. Richard E. Jacobson, Nutmeg chairman and chief executive officer, said that one additional share of common stock will be issued for every two shares held as of the record date. The additional shares will be distributed on Jan. 24, 1992, to holders of record on Jan. 6, 1992.
 Jacobson said the board took the action to increase the number of shares held by the public. He said the increased shares available for trading "will help broaden the company's shareholder base."
 Nutmeg had about 8.1 million shares of common stock outstanding immediately prior to today's action and will have about 12 million shares outstanding after distribution of the additional shares.
 Jacobson said fractional shares will be paid in cash based on the closing price of the stock on the record date, adjusted for the stock split.
 Nutmeg stock is traded on the New York Stock Exchange under the symbol NTM.
 Nutmeg designs, manufactures and markets high-quality sportswear. Nutmeg is licensed by the four major U.S. professional sports organizations -- Major League Baseball, the National Basketball Association, the National Football League and the National Hockey League -- most major colleges and universities, ABC Sports and other licensors to use team logos, names and other graphics on a wide variety of apparel.
 -0- 12/18/91
 /CONTACT: George N. Derhofer, senior vice president and chief financial officer of Nutmeg Industries, Inc., 813-247-6044/
 (NTM) CO: Nutmeg Industries, Inc. ST: Florida IN: TEX SU:


JJ-SS -- FL010 -- 3345 12/18/91 10:46 EST
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Publication:PR Newswire
Date:Dec 18, 1991
Words:279
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