Goldwyn buys back paper

In an attempt to reduce the dilution of Samuel Goldwyn Co. stock, the company is buying back up to 2 million of its Class A warrants.

The purchase, which could cost as much as $ 375,000, will redeem around 52% of the outstanding warrants.

Goldwyn issued them to shareholders and creditors of Heritage Entertainment Inc. when that company was acquired out of bankruptcy in December 1991.

Each class A warrant entitles the holder, through Dec. 5, to buy one-fifth of a Samuel Goldwyn common share for $ 2.20; five class A warrants represent the right to buy a common share for $ 11.

Mandatory redemption

The class A warrants are subject to mandatory redemption by the company on Dec. 6 at 30 cents each.

Goldwyn shares closed down 12.5 cents to $ 2.375.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety