MONARCH CAPITAL <MON> CALLS PREFERRED
Monarch Capital corp said
its board has called its convertible preferred stock for
redemption on May Eight.
    The company said shareholders may exchange the preferred
shares for shares of new nonconvertible preferred stock with a
dividend of five dlrs to 6.40 dlrs per share, convert them into
common stock at a rate of 0.8 common share for each preferred
share or allow the preferred to be redeemed for 46.51 dlrs per
share.
 Reuter
