Printer Friendly

STONERIDGE RESOURCES AND THE MAJOR GROUP ANNOUNCE COMPLETION OF MERGER

STONERIDGE RESOURCES AND THE MAJOR GROUP ANNOUNCE COMPLETION OF MERGER
 OMAHA, Neb., Sept. 28 /PRNewswire/ -- Stoneridge Resources, Inc. (NYSE: SRE) and The Major Group, Inc., Orlando, Fla., jointly announce the completion of the previously announced merger of Major Group into MGI Acquisition Corporation, a wholly owned subsidiary of Stoneridge. Effective Sept. 25, 1992, Major Group is no longer a publicly traded entity.
 Shareholders of Major Group will receive one share of Stoneridge for each 25 shares of Major Group owned as of the close of business on Sept. 25, 1992. In aggregate, Stoneridge will issue approximately 200,000 new shares.
 Simultaneously, the companies completed the settlement agreements between Stoneridge, Major Group and Major Group's lenders, including Stoneridge, by which substantially all of Major Group's assets were conveyed to its creditors in consideration for the cancellation of debt.
 The merger and settlement agreements were approved by Major Group's shareholders at their meeting on Sept. 15, 1992.
 Stoneridge Resources' principal operations are conducted through Acceptance Insurance Holdings, Inc., a specialty property and casualty insurance group based in Omaha.
 -0- 9/28/92
 /CONTACT: William J. Gerber of Stoneridge Resources, Inc., 402-344-8800/
 (SRE) CO: Stoneridge Resources, Inc., The Major Group, Inc. ST: Nebraska, Michigan IN: SU: TNM


DH -- DE025 -- 4114 09/28/92 17:10 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 28, 1992
Words:213
Previous Article:BLUE CROSS OF WESTERN PA & PA BLUE SHIELD HEARING TO BE HELD
Next Article:CHARTER FEDERAL ANNOUNCES U.S. COURT OF APPEALS DECISION
Topics:


Related Articles
STONERIDGE RESOURCES EXTENDS STOCKHOLDER VOTING PERIOD TO NOV. 26, 1991
STONERIDGE RESOURCES, INC. EXTENDS STOCKHOLDER VOTING PERIOD TO DEC. 11
STONERIDGE RESOURCES EXTENDS STOCKHOLDER VOTING PERIOD TO DEC. 20, 1991
STONERIDGE RESOURCES, INC. SEEKS EQUITY COMMITMENTS FOLLOWING INSUFFICIENT STOCKHOLDER VOTE ON FINANCING PROPOSAL
STONERIDGE RESOURCES ANNOUNCES RESTRUCTURING CHARGES, YEAR-END RESULTS AND EXPECTED REFINANCING ACTIVITY
STONERIDGE RESOURCES AGREES TO SELL ITS ORANGE-CO STAKE
STONERIDGE ANNOUNCES COMPLETION OF REFINANCING ACTIVITY
STONERIDGE ANNOUNCES FIRST-QUARTER RESULTS
STONERIDGE RESOURCES, INC. ANNOUNCES ANNUAL SHAREHOLDERS' MEETING PLANS
Stoneridge and Ashok Minda Group Create Joint Venture in India.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters