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SKYLANDS PARK MANAGEMENT DIRECTORS AUTHORIZE 3-FOR-1 SPLIT OF OUTSTANDING COMMON STOCK

 AUGUSTA, N.J., Jan. 14 /PRNewswire/ -- The Board of Directors of Skylands Park Management Inc. (NASDAQ: SKYP) has authorized a 3-for-1 split of the Company's outstanding common stock, effective as of January 24, 1994, for shareholders of record as of the close of business on January 24, 1994.
 The action follows shareholder approval of an amendment of the Company's Certificate of incorporation, whereby the authorized common stock of the Company was increased from 10,000,000 shares without par value to 20,000,000 shares without par value.
 The announcement was made by Frederick A. Voight, Chairman & Chief Executive Officer of Skylands Park Management, Inc.
 "The Board has taken this action (the 3-for-1 stock split) in the hope of fostering more widespread holdings of the publicly traded shares of the Company's common stock, and enhancing the public market for such shares," said Mr. Voight.
 Pursuant to the Company's outstanding warrants and the company's 1993 Stock Option Plan, the 3-for-1 split of the outstanding common stock will require a corresponding increase in the number of shares issuable upon exercise of the outstanding warrants, and in the number of shares for which options may be granted under the 1993 Stock Option Plan.
 The 3-for-1 stock split will not affect or modify any shareholder's percentage ownership in the Company, although the market price per share of the Company's common stock can be expected to decrease in approximate proportion to the increase in the number of outstanding shares.
 Based on the Company's capitalization as of the Record Date, but after giving pro forma effect to the 3-for-1 stock split, a total of 5,935,713 shares of common stock will be outstanding, and an additional 4,317,855 shares will be reserved for issuance pursuant to outstanding warrants and the 1993 Stock Option Plan. The remaining 9,746,432 shares which will not be outstanding or reserved for issuance may be issued subsequently, at any time and from time to time, on such terms as the Company's Board of Directors may determine in its discretion.
 -0- 1/14/94
 /CONTACT: Robert A. Hilliard of Skylands Park Management, 201-702-7656/
 (SKYP)


CO: Skylands Park Management, Inc. ST: New Jersey IN: LEI SU: DIV

LG -- NY047 -- 1253 01/14/94 14:22 EST
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Publication:PR Newswire
Date:Jan 14, 1994
Words:376
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