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REGENCY EQUITIES CORP. ANNOUNCES POSSIBLE CHANGE IN OPERATING CONTROL OF COMPANY

 REGENCY EQUITIES CORP. ANNOUNCES POSSIBLE
 CHANGE IN OPERATING CONTROL OF COMPANY
 LOS ANGELES, Jan. 29 /PRNewswire/ -- Robert N. Goodman, chairman and president of Regency Equities Corp., announced today a possible change in operating control of the company. First Executive Corp., and its subsidiary Evergreen Acceptance Corp., which own approximately 38 percent of the outstanding common stock of the company, have proposed that their nominees be elected to the board of directors of the company, to constitute a majority of the directors. The proposal also provides for one of those directors to be elected chairman and president.
 "They own far more stock than any other shareholder," said Goodman, "and they're entitled to be directly involved in management if they want. I have no quarrel with that idea, and will be glad to cooperate. I think it would be damaging to the company, and inappropriate, to try to interfere."
 In a filing with the Securities and Exchange Commission, First Executive and Evergreen indicated that they do not intend to make any changes in the business of the company, at least for the time being, and that no specific timetable has been set for the transfer of control.
 -0- 1/29/92
 /CONTACT: Robert N. Goodman, chairman and president of Regency Equities Corp., 213-575-1500/ CO: Regency Equities Corp. ST: California IN: FIN SU:


DM-CH -- LA026 -- 4988 01/29/92 18:11 EST
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Publication:PR Newswire
Date:Jan 29, 1992
Words:229
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