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THE SAMUEL GOLDWYN CO. HOLDS ANNUAL MEETING OF STOCKHOLDERS AND APPROVES REVERSE STOCK SPLIT

 THE SAMUEL GOLDWYN CO. HOLDS ANNUAL MEETING OF STOCKHOLDERS
 AND APPROVES REVERSE STOCK SPLIT
 LOS ANGELES, Sept. 15 /PRNewswire/ -- Samuel Goldwyn Jr., chairman of the board and chief executive officer of The Samuel Goldwyn Co. (AMEX: SG) announced that the stockholders, at their annual meeting today, elected Paul Gordon Hoffman and Mel Ziontz as directors in Class I with their terms expiring at the 1995 annual meeting of stockholders.
 The stockholders also approved the amendment to the company's certificate of incorporation effecting a 1-for-5 reverse stock split of the issued and outstanding shares of common stock and in connection therewith (i) to decrease the number of authorized shares of common stock from 250,000,000 to 50,000,000, (ii) to decrease the number of authorized shares of preferred stock from 50,000,000 to 10,000,000, and (iii) to increase the par value of both the common stock and preferred stock from $.01 per share to $0.05 per share. The company currently has 115,111,966 outstanding shares of common stock, excluding shares held in treasury, and no shares of preferred stock outstanding. It is anticipated that the reverse stock split will become effective Sept. 16, 1992.
 The stockholders also ratified the appointment of Price Waterhouse as independent auditors for the fiscal year ending March 31, 1993, and approved the company's directors stock option plan.
 At The Samuel Goldwyn Co. board of directors meeting held after the annual meeting of stockholders, the following were elected as officers: Samuel Goldwyn Jr., chairman of the board and chief executive officer; Meyer Gottlieb, president and chief operating officer; Thomas Rothman, senior vice president and president of worldwide production; Norman Flicker, senior vice president, business affairs; Hans Turner, senior vice president, treasurer, chief financial officer and secretary; and Stephen A. Gilula, chief operating officer of The Samuel Goldwyn Theatre Group.
 The Samuel Goldwyn Co. is one of the leading independent motion picture film and television producers and distributors in the United States as well as a leading specialized film exhibitor.
 -0- 9/15/92
 /CONTACT: Leonie de Picciotto of The Samuel Goldwyn Co., 310-552-2255/
 (SG) CO: The Samuel Goldwyn Co. ST: California IN: ENT SU: PER


KJ-JL -- LA033 -- 9850 09/15/92 17:47 EDT
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Publication:PR Newswire
Date:Sep 15, 1992
Words:374
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