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THE HENLEY GROUP, HENLEY PROPERTIES TO VOTE ON PROPOSED MERGER JULY 16

THE HENLEY GROUP, HENLEY PROPERTIES TO VOTE ON PROPOSED MERGER JULY 16
 HAMPTON, N.H., June 15 /PRNewswire/ -- Shareholders of The Henley Group, Inc. (NASDAQ: HENG) and Henley Properties Inc. (NASDAQ: HENP) will meet in Dover, Del., July 16 to vote on the proposed merger agreement previously approved by the boards of directors of both companies.
 A joint proxy statement is being mailed to shareholders of record June 12.
 The merger agreement contemplates the distribution, for each Henley Group share, of $12.07 in cash, $6 principal amount of 12 percent senior subordinated pay-in-kind debentures due March 15, 2002, of Henley Properties, $1.50 principal amount of 12 percent subordinated pay-in-kind debentures due March 15, 2002 of Henley Properties and one share of common stock of Abex Inc., now a wholly owned subsidiary of Henley Group.
 Immediately following the distribution, Henley Group will merge into Henley Properties, which will change its name to The Bolsa Chica Company. For each Henley Group share, Henley Group holders will receive two shares of Series A convertible redeemable preferred stock of Bolsa Chica and one share of Class A common stock of Bolsa Chica.
 Abex common stock will be listed on the New York Stock Exchange, and Bolsa Chica common will be listed among the NASDAQ national market issues.
 -0- 06/15/92
 CONTACT: Norman Ritter of The Henley Group, 603-929-2322
 (HENG HENP) CO: THE HENLEY GROUP, INC.; HENLEY PROPERTIES, INC. SU: TNM ST: NH -- NE008 -- X423 06/15/92
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Publication:PR Newswire
Date:Jun 15, 1992
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