CENTRONICS &lt;CEN> SETS PREFERRED PURCHASE RIGHTS

  Centronics Corp said its board
  declared a dividend distribution of one preferred share
  purchase right on each outstanding common share payable to
  holders of record April 9.
      The rights, which will expire 10 years later, will entitle
  shareholders to buy one-hundredth of a share of a new series of
  preferred at an exercise price of 20 dlrs.
      The rights will be exercisable only if some one acquires 30
  pct or more of Centronic's common or announces an offer which
  would result in ownership of 30 pct or more of the stock.
      Centronics said its board will be entitled to redeem the
  rights at two cts per right at any time before a 30 pct
  position has been acquired.
      If the rights become exercisable, the company said, those
  held by shareholders other than the owner of 30 pct or more of
  the stock will entitle the holder to purchase a number of
  common shares having a market value twice the right's exercise
  price.
  

