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PILGRIM REGIONAL BANKSHARES RIGHTS OFFERING DECLARED EFFECTIVE

 PILGRIM REGIONAL BANKSHARES RIGHTS OFFERING DECLARED EFFECTIVE
 LOS ANGELES, Aug. 12 /PRNewswire/ -- Pilgrim Regional BankShares Inc. (NYSE: PBS), a closed-end fund listed on the New York Stock Exchange, announced today that the Securities and Exchange Commission (SEC) has declared its Rights Offering effective.
 Under the Rights Offering, shareholders of record as of Aug. 14, 1992, will be granted a non-transferable right to purchase one share of common stock for every three shares currently being held.
 The exercise price of the Rights will be $10.50 per share. The offering period will expire on Sept. 17, 1992, unless otherwise extended.
 -0- 8/12/92
 /CONTACT: Tony De Angelis of Pilgrim Group, 310-551-5406/
 (PBS) CO: Pilgrim Regional BankShares Inc. ST: California IN: FIN SU: OFR


AL-JL -- LA029 -- 6245 08/12/92 14:12 EDT
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Publication:PR Newswire
Date:Aug 12, 1992
Words:132
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