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 MEMPHIS, Tenn., Oct. 29 /PRNewswire/ -- The Board of Directors of The Promus Companies Incorporated (NYSE: PRI) today authorized a three- for-two split of the Company's common stock to be effected in the form of a stock dividend.
 "In the seven months since Promus' last stock split, our company has enjoyed substantial operational and developmental success. Today's announcement once again emphasizes our confidence in continued growth as we look forward to opening new casino entertainment facilities and surpassing the 500 hotel milestone in the months ahead," said Michael D. Rose, chairman and chief executive officer of Promus. "In addition, this split will again make our shares more accessible to potential non- institutional investors."
 The stock split will be effected by a distribution on November 29, 1993, of one additional share for each two shares owned by stockholders of record at the close of business on November 8, 1993. The Company's decision to split three-for-two was based on a limitation on the number of shares authorized for issuance. Shareholders entitled to receive a half share as a result of the split will receive cash in lieu of receiving the half share. The Company currently has approximately 68,000,000 shares outstanding.
 Promus is the parent company of four leading brand names in the casino entertainment and hotel industries: Harrah's, the world's premier name in casino entertainment, and Embassy Suites, Hampton Inn and Homewood Suites hotels.
 -0- 10/29/93
 /CONTACT: Ralph Berry of The Promus Companies, 901-762-8629/

CO: The Promus Companies ST: Tennessee IN: CNO SU:

SB -- CH003 -- 8557 10/29/93 13:33 EDT
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Publication:PR Newswire
Date:Oct 29, 1993
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