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PDG ENVIRONMENTAL INC. ANNOUNCES RESULTS OF ANNUAL SHAREHOLDERS MEETING

 MONROEVILLE, Penn., Sept. 9 /PRNewswire/ -- PDG Environmental Inc. (NASDAQ SMALL CAP: PDGE) announced that the following actions were ratified at the annual meeting of shareholders held July 23, 1993.
 Proposed amendments to the terms of PDGE Series A Preferred Stock were approved by a majority of both the Common and Series A shareholders. Among other changes, the annual dividend rate on the series A Preferred was reduced from 9 percent to 2 percent. This change combined with the conversion to Common shares of the Preferred shares held by Chairman and Chief Executive Officer, John Regan and President, David D'Appolonia has reduced the annual preferred dividend from $900,000 to $53,000. With the conversion, total outstanding Common shares has increased to approximately 5,264,000.
 The shareholders also approved a 1-for-2 reverse stock split contingent on moving the company's stock to the American Stock Exchange Emerging Companies Market. However, PDG management has elected to indefinitely delay further pursuit of the AMEX listing until operating results are more favorable, and a public offering of the company's stock is feasible. Conversion Industries, who will assist in the future stock offering, has concurred with the decision to delay the AMEX listing. The 1-for-2 reverse split has, therefore, been delayed until further notice.
 The company also announced the acquisition, effective Aug. 1, 1993, of Eastern Technical Associates, an underground storage tank remediation contractor headquartered near Pittsburgh. The acquisition is part of PDG Environmental's continuing program to expand its environmental remediation capabilities and will assist the company in servicing its site remediation customers in the Northeast.
 PDG Environmental Inc. is a full service environmental contractor headquartered in Pittsburgh with primary operations in the Eastern United States and Texas. PDGE's principal areas of business include asbestos abatement, underground storage tank remediation, hazardous waste remediation, thermal desorption of contaminated soil and management and disposal of regulated chemicals and materials.
 -0- 9/9/93
 /CONTACT: Dulcia Maire, 412-856-2200/
 (PDGE)


CO: PDG Environmental Inc. ST: Pennsylvania IN: ENV SU:

LM-EH -- LA025 -- 0423 09/09/93 15:18 EDT
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Publication:PR Newswire
Date:Sep 9, 1993
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