Printer Friendly

THE SAMUEL GOLDWYN CO. ANNOUNCES PROPOSED PUBLIC OFFERING AND PROPOSED 1-FOR-4 REVERSE STOCK SPLIT

 LOS ANGELES, April 23 /PRNewswire/ -- The Samuel Goldwyn Co. (AMEX: SG) announced today that it has filed with the Securities and Exchange Commission a registration statement relating to the proposed public offering by the company, on a firm-commitment underwritten basis, of up to 5,750,000 shares of common stock, or 1,437,500 shares after giving effect to a proposed 1-for-4 reverse stock split. The company expects to complete the public offering by late June.
 The offering itself will be made only by means of a prospectus declared effective by the Securities and Exchange Commission.
 The company also announced that its board of directors has recommended a 1-for-4 reverse stock split of the common stock of the company which, when approved by the stockholders, is expected to be effective by the end of May. Pursuant to the reverse stock split, the stockholders will receive one share of common stock in exchange for each four shares they own. In connection therewith, the number of authorized shares of common stock of the company would be decreased from 50,000,000 to 15,000,000, the number of authorized shares of preferred stock would be decreased from 10,000,000 to 3,000,000, and the par value of both the common stock and preferred stock would be increased from $0.05 per share, to $0.20 per share. The company currently has outstanding 23,802,884 shares of common stock. No shares of preferred stock are outstanding.
 The proposal to effect the reverse stock split is contingent on stockholder approval and the company will solicit, by means of a consent statement, the written consent of the stockholders in lieu of a special stockholders' meeting. Stockholders of record at the close of business on April 23, 1993, will be entitled to give their consent. It is expected that the consent statement will be mailed to stockholders beginning May 3, 1993. Samuel Goldwyn Jr., the company's chairman and chief executive officer, possesses the power to vote approximately 86 percent of the common stock. Accordingly, the affirmative vote of he alone is sufficient to adopt the proposals. Goldwyn intends to consent to the reverse stock split.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state.
 The Samuel Goldwyn Co. is a diversified independent entertainment company engaged in the production and worldwide distribution of motion pictures and television programming and in theatrical exhibition.
 -0- 4/23/93
 /CONTACT: Hans Turner, CFO of The Samuel Goldwyn Co., 310-552-2255/
 (SG)


CO: The Samuel Goldwyn Co. ST: California IN: ENT SU: OFR

MS-BP -- LA029 -- 0309 04/23/93 17:59 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 23, 1993
Words:524
Previous Article:PRESIDENT OF TUPPERWARE WORLDWIDE NAMED TO SUNBANK, N.A'S BOARD
Next Article:EVEREST MEDICAL CORPORATION RELEASES RESULTS
Topics:


Related Articles
THE SAMUEL GOLDWYN COMPANY BEGINS TRADING ON THE AMERICAN STOCK EXCHANGE
THE SAMUEL GOLDWYN CO. ANNOUNCES ANNUAL STOCKHOLDERS MEETING
THE SAMUEL GOLDWYN CO. HOLDS ANNUAL MEETING OF STOCKHOLDERS AND APPROVES REVERSE STOCK SPLIT
THE SAMUEL GOLDWYN CO. ANNOUNCES INTENTION TO PURCHASE ITS CLASS A WARRANTS
THE SAMUEL GOLDWYN CO. REPORTS RECORD FOURTH-QUARTER 1993 AND YEAR-END RESULTS
THE SAMUEL GOLDWYN CO. ANNOUNCES EFFECTIVENESS OF 1-FOR-4 REVERSE STOCK SPLIT
THE SAMUEL GOLDWYN CO. ANNOUNCES REVISED TIMING OF PROPOSED PUBLIC OFFERING
THE SAMUEL GOLDWYN COMPANY ANNOUNCES EFFECTIVE DATE OF PUBLIC OFFERING
THE SAMUEL GOLDWYN CO. ANNOUNCES COMPLETION OF PUBLIC OFFERING
THE SAMUEL GOLDWYN COMPANY ANNOUNCES EXERCISE OF OVER-ALLOTMENT OPTION

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