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Article: Pear Tree Announces Stock Split and Capital Restructuring
- Article from:
- PR Newswire
- Article date:
- December 3, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SOUTHAMPTON, N.Y., Dec. 3 /PRNewswire/ -- The Board of Directors of The Pear Tree Group, Inc. has announced today a restructuring of the Company's capitalization which provides for a 2 for 1 stock split to all shareholders of record as of January 15, 1998. To effect this stock distribution without further dilution to the shareholders, the President of The Company, Mr. Keith Davis, returned 479,000 shares of Common Stock and 50,000 shares of Voting Preferred Stock to the Company. The recapitalization provides shareholders with a 21.4% controlling interest in the Company, an increase of 11.9% over the present equity give-up to the public of 9.5%. All current shareholders ...
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