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STONERIDGE RESOURCES EXTENDS STOCKHOLDER VOTING PERIOD TO DEC. 20, 1991

STONERIDGE RESOURCES EXTENDS STOCKHOLDER VOTING PERIOD TO DEC. 20, 1991
 BLOOMFIELD HILLS, Mich., Dec. 12 /PRNewswire/ -- Stoneridge Resources, Inc. (NYSE: SRE) announced today that it has extended until Dec. 20, 1991, the period in which its stockholders will be able to vote by written consents on the company's proposal to issue $7,163,815 in 8 percent convertible subordinated notes due in 1994 to certain of the company's directors and substantial stockholders and up to $7 million in common stock or other securities convertible into or exercisable for common stock to directors and substantial securities holders as the company's board of directors may deem necessary.
 The proposal was mailed to the company's stockholders commencing on Oct. 21, 1991, with the voting period initially set to end on Nov. 12, 1991. The company subsequently announced that it had extended the voting period to Nov. 26, 1991, and, later, to Dec. 11, 1991. The third extension was approved because by Dec. 11, 1991, the company had not received written consents from the holders of a majority of its outstanding shares, as is required to approve the proposal. The extended voting period will afford time to receive further stockholder consents.
 Stoneridge owns Acceptance Insurance Holdings Inc., a Nebraska-based specialty property and casualty insurance company; 52 percent of Orange-co, Inc. (NYSE: OJ), a Florida-based citrus company; 33 percent of Major Realty Corporation (NASDAQ: MAJR), a Florida-based real estate company; and 51 percent of The Major Group, Inc. (NYSE: MJR), a Florida- based commercial real estate services company.
 -0- 12/12/91
 /CONTACT: Douglas M. Kilbourne of Stoneridge Resources, 313-540-9040/
 (SRE) CO: Stoneridge Resources, Inc. ST: Michigan, Florida IN: SU:


SB -- DE007 -- 1851 12/12/91 10:23 EST
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Publication:PR Newswire
Date:Dec 12, 1991
Words:284
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