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TRITON GROUP ANNOUNCES THE INITIAL DISTRIBUTION OF COMMON STOCK, WARRANTS AND CASH PURSUANT TO JOINT PLAN OF REORGANIZATION

 SAN DIEGO, Sept. 10 /PRNewswire/ -- Triton Group Ltd. (AMEX: TGL) today announced the commencement of its initial distribution of common stock, warrants and cash to former creditors of Triton and Intermark Inc. and former stockholders of Intermark pursuant to their Joint Plan of Reorganization confirmed in June 1993. This initial distribution results in the issuance of approximately 18.3 million shares of common stock of Triton and warrants to purchase an additional 787,000 shares of Triton common stock. Additionally, cash distributions aggregating approximately $500,000 will be made to certain creditors and de minimis stockholders.
 Approximately 1.7 million common shares and warrants to purchase an additional 26,000 common shares are being held back pending resolution of disputed creditor claims filed in Triton's and Intermark's Chapter 11 cases. Triton believes that some portion of these securities will be available for distribution within the next six months to those unsecured creditors receiving securities in the initial distribution.
 The initial distribution will result in the issuance of securities and cash in exchange for Triton's and Intermark's old debt securities as follows:
 Triton Securities and
 Cash to be Issued per
 $1,000 Debenture
 Common
 Old Debt Issue Shares Warrants Cash
 Triton:
 14 3/8 pct Subordinated Notes 183.73205 N/A N/A
 14 5/8 pct Subordinated
 Debentures 84.41743 N/A N/A
 Intermark:
 11 7/8 pct Senior Subordinated
 Debentures 86.62946 N/A N/A
 13.20 pct Senior Subordinated
 Debentures, Series A & B 86.82175 N/A N/A
 7 3/8 pct Convertible Subordinated
 Debentures 7.02387 7.82517 $3.91258
 Additionally, former Intermark stockholders will receive .01106 common shares and .01733 warrants for each share of Intermark common and preferred stock held. The calculated shares and warrants to be received in exchange for all securities will be rounded to the nearest share or warrant, respectively.
 As previously announced, Triton Group and its former parent, Intermark, confirmed a Joint Plan of Reorganization on June 4, 1993, which became effective on June 25, 1993, resulting in the merger of Intermark into Triton Group. Under the plan, holders of unsecured debt of Intermark and Triton, principally subordinated notes and debentures, converted their claims into 99 percent of Triton Group's common stock with the remaining 1 percent being distributed to the former stockholders of Intermark.
 Triton Group Ltd. owns 25 percent of The Actava Group Inc. (NYSE: ACT) and majority interests in six subsidiaries with current annual revenues in excess of $200 million.
 -0- 9/10/93
 /CONTACT: Michael M. Earley, senior VP and CFO, or Mark G. Foletta, VP, controller and corporate secretary, 619-231-1818/
 (TGL)


CO: Triton Group Ltd; Intermark Inc. ST: California IN: SU:

LM-JL -- SD004 -- 0970 09/10/93 19:35 EDT
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Publication:PR Newswire
Date:Sep 10, 1993
Words:457
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