OTHER NEWS - Aug. 2, 1993
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Glenfed Delays Shareholders Meeting: The parent company of troubled Glendale Federal Bank has postponed to Aug. 17 from Aug. 3 the special shareholders meeting at which stockholders of the S & L are to vote on a proposed, $375-million recapitalization. No reason was given for the delay. Management says the recapitalization, which would result in a dilution of shareholders’ investment, is necessary if the undercapitalized thrift is to meet an Aug. 31 deadline set by regulators to meet minimum capital adequacy standards. The Aug. 17 meeting will be held at 10 a.m. at the University City Hilton & Towers.
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