UNIVERSAL INTERNATIONAL ANNOUNCES DECLARATION OF SHARES
UNIVERSAL INTERNATIONAL ANNOUNCES DECLARATION OF SHARES MINNEAPOLIS, May 20 /PRNewswire/ -- Universal International, Inc.
(NASDAQ-NMS: UNIV) announced today at its annual meeting that the registration of 1,000,000 shares of its $.05 par value common stock held by certain selling shareholders has been declared effective by the Securities and Exchange Commission. The shares were previously issued by the company in a private placement to institutional investors in January 1992. Universal International will not receive any proceeds from the sale of shares by the selling shareholders in this registration.
The company also announced that it has adjusted its goal of opening up to 30 Only Deals stores to a range of between 15 to 25 stores during 1992. This adjustment is a result of several factors including the availability of acceptable locations and other operational considerations. Universal International is one of the nation's oldest and largest buyers and sellers of quality close-out merchandise at the wholesale level and operates a chain of Only Deals retail stores that offer merchandise priced from $1.00 to $10.00. Universal's shares are traded on the NASDAQ/NMS market under the symbol UNIV. -0- 5/20/92 /CONTACT: Mark L. Bartholomay of Universal International, 612-533-1169/ (UNIV) CO: Universal International ST: Minnesota IN: REA SU:
MA -- MN014 -- 2504 05/20/92 17:03 EDT
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|Date:||May 20, 1992|
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