To All, 1-for-6 split on 9-5-97. Allen & Co. Inc. = Financial Advisors
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biz.yahoo.com
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Friday September 5 10:35 AM EDT
Company Press Release
REPEAT/The Kushner-Locke Co. Announces Sept. 5, 1997, Record Date
for 1-for-6 Reverse Stock Split
Company Retains Allen & Company Inc. as Financial Advisors
LOS ANGELES--(BUSINESS WIRE)--Sept. 5, 1997--The Kushner-Locke Co. (NASDAQ/NM:KLOCD) announced
Friday that the record date for the 1-for-6 reverse stock split of the company's common stock, approved by shareholders at
the recent annual meeting, is expected to be Sept. 5, 1997.
After giving effect to the reverse stock split, The Kushner-Locke Co. will have approximately 9,060,500 shares outstanding.
Kushner-Locke also announced that it has retained the investment banking firm of Allen & Company Inc. to act as financial
advisor to the company.
Allen & Company, as financial advisor to Kushner-Locke, will review the company's financial and strategic plans and also will
advise Kushner-Locke with respect to financing alternatives, strategic relationships, mergers and acquisitions.
``We are very pleased to be associated with Allen & Company Inc. We are positioned to continue our plans for further
growth, and to focus on maximizing shareholder value,'' said Peter Locke and Donald Kushner, co-chairmen.
The Kushner Locke Co. is a leading independent producer and distributor of feature films, direct-to-video films, television
series, made-for-TV movies, miniseries, infomercials and animated programming for theaters, network and cable television.
Visit the company's Web site at www.kushner-locke.com .
The above statements include forward-looking statements based on current management expectations. Factors that could
cause actual results to differ materially from these expectations include the following: risks involved in the television and
theatrical film industries, variability of quarterly results, liquidity and financing requirements, certain accounting policies including
amortization and adjustments of film costs and the volatility of public markets. Additional factors are described in the
company's reports filed with the Securities and Exchange Commission. |
