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Hollywood Park to Consider Restoring Paired-Share Plan

April 14, 1998|JESUS SANCHEZ

Stockholders at Hollywood Park Inc.'s annual meeting in New York approved matters included in the company's proxy statement, including the election of 11 directors to the board of the directors.

The proxy also contained a proposal to restore the company's paired-share structure, with the firm being split into a real estate investment trust and an operating company.

However, the gaming and racetrack operator said the annual meeting would continue on April 22 at the company's Inglewood headquarters to consider one proposal to eliminate a corporate rule requiring that certain transactions be approved by the owners of 70% of Hollywood Park's outstanding stock. Company officials could not be reached for further comment.

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