SIIS (Struthers Industries) Message Board

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Microcap & Penny Stocks : SIIS (Struthers Industries)

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To: bull_market who wrote (610)	11/6/1997 4:04:00 PM
From: Terry D. Voss	Read Replies (1) of 709

Thursday November 6 2:20 PM EST Company Press Release Struthers Industries Reaches Agreement With Majority of Debenture Holders for Orderly Repayment of $6 Million in Debentures LOS ANGELES--(BUSINESS WIRE)--Nov. 6, 1997--Struthers Industries, Inc. (OTC:SIIS) announced today that it has acted to stabilize its securities by reaching agreement with the majority of its remaining debenture holders for an orderly redemption plan, whereby the $6,085,229 debenture balance owed them will be repaid over 12 months. Furthermore, these debenture holders have instructed J.P. Carey, the custodian of 4,675,000 common shares of Struthers, to return their proportionate shares to WINCO Corp., the majority shareholder of Struthers Industries. Struthers Chairman Raoul L. Carroll said Struthers soon expects to be in agreement with up to 80 percent of its debenture holders.

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