0001144204-07-037930.txt : 20070724 0001144204-07-037930.hdr.sgml : 20070724 20070724120710 ACCESSION NUMBER: 0001144204-07-037930 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070724 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070724 DATE AS OF CHANGE: 20070724 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WILSHIRE ENTERPRISES INC CENTRAL INDEX KEY: 0000107454 STANDARD INDUSTRIAL CLASSIFICATION: OPERATORS OF APARTMENT BUILDINGS [6513] IRS NUMBER: 840513668 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04673 FILM NUMBER: 07995430 BUSINESS ADDRESS: STREET 1: 1 GATEWAY CENTER, CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 2014202796 MAIL ADDRESS: STREET 1: 1 GATEWAY CENTER, CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: WILSHIRE OIL CO OF TEXAS DATE OF NAME CHANGE: 19920703 8-K 1 v081750_8k.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (date of earliest event reported): July 24, 2007

WILSHIRE ENTERPRISES, INC.

(Exact name of Registrant as specified in its charter)

Delaware		1-4673		84-0513668
(State or incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification No.)

1 Gateway Center, Newark, NJ, 07102

(Address of principal executive offices)

(201) 420-2796

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.

On July 24, 2007, the Registrant issued a press release, a copy of which is included as an exhibit to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit 99.1- Registrant’s Press Release, dated July 24, 2007.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


	WILSHIRE ENTERPRISES, INC. (Registrant)

Dated: July 24, 2007	By:	/s/ Francis J. Elenio
		Francis J. Elenio
		Senior Vice President and Chief Financial Officer

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EXHIBIT INDEX

Exhibit 99.1 - Registrant’s Press Release, dated July 24, 2007.

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EX-99.1 2 v081750_ex99-1.htm

FOR IMMEDIATE RELEASE

AMEX: WOC

Wilshire Enterprises, Inc. Announces Results of Stockholder Vote

Company's Nominees Are Elected to the Board of Directors by Substantial Majorities; Stockholders Overwhelmingly Reject Dissident's Proposal

NEWARK, N.J., July 24, 2007 - Wilshire Enterprises, Inc. ("Wilshire" or the "Company") (Amex: WOC) today announced the final results of the stockholder vote for the nominees to the Board of Directors and other matters held at the Annual Meeting of Stockholders on July 19, 2007.

Stockholders elected the Company's nominees, Ernest Wachtel and W. Martin Willschick, to the Board of Directors by substantial majorities. Stockholders also overwhelmingly rejected a dissident stockholder's proposal to conduct an auction to sell the Company to the highest bidder.

"We are pleased by our stockholders' resounding vote of confidence in our value maximization strategy and in management's ability to continue implementing the strategy effectively," said Chairman and Chief Executive Officer Sherry Wilzig Izak.

"We worked hard during the past year to reposition our portfolio in anticipation of a transaction involving our Company, including the sale for more than $7 million of certain non-core properties and the upgrading of a number of core properties. We are pleased to report that the orderly process we have launched to sell our business is now well advanced. Preliminary bids have been received, and due diligence reviews have begun."

"Our stockholders clearly support our decision to seek a negotiated transaction by broadly marketing the company with the assistance of an experienced real estate investment banking team. We believe that this approach has the best chance of resulting in maximum value for all of our stockholders,” Izak added.

About Wilshire Enterprises

Wilshire is engaged primarily in the ownership and management of real estate investments in Arizona, Florida, Texas and New Jersey. Wilshire’s portfolio of properties includes 5 rental apartment properties with 950 units, 15 condominium units, 4 buildings with 231,000 square feet of office and retail space and slightly over 18 acres of land.

FORWARD-LOOKING STATEMENT:

The non-historical statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to several risks and uncertainties that could cause actual results to differ materially from such statements. Such risks and uncertainties include the impact of market, economic and competitive conditions on the Company and others, and the difficulty of predicting the outcome of the process that the Company is pursuing with its investment banker, as well as other risks and uncertainties disclosed in the Company's 2006 Form 10-K filed with the Securities and Exchange Commission. There can be no assurance that the exploration of strategic alternatives will result in any transactions.

Company Contact: Sherry Wilzig Izak, Chairman, 201-420-2796

Agency Contact: Neil Berkman, Berkman Associates, 310-826-5051