-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, b6FPZlTk/S45an3YN9LGn/EOM7SI91EwVWWGXQIqUlw5RQyMd8D92l8ZuWagerwG 5HfSCvYxGaBamvRrEuwVcg== 0000217084-95-000002.txt : 19950614 0000217084-95-000002.hdr.sgml : 19950614 ACCESSION NUMBER: 0000217084-95-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950306 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19950307 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: WINDMERE CORP CENTRAL INDEX KEY: 0000217084 STANDARD INDUSTRIAL CLASSIFICATION: 3634 IRS NUMBER: 591028301 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10177 FILM NUMBER: 95519056 BUSINESS ADDRESS: STREET 1: 5980 MIAMI LAKES DR CITY: MIAMI LAKES STATE: FL ZIP: 33014 BUSINESS PHONE: 3053622611 MAIL ADDRESS: STREET 1: 5980 MIAMI LAKES DRIVE CITY: MIAMI LAKES STATE: FL ZIP: 33014 FORMER COMPANY: FORMER CONFORMED NAME: SAVE WAY INDUSTRIES INC DATE OF NAME CHANGE: 19830815 FORMER COMPANY: FORMER CONFORMED NAME: SAVE WAY BARBER & BEAUTY SUPPLIES INC DATE OF NAME CHANGE: 19770626 8-K 1 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) March 6, 1995 WINDMERE CORPORATION (Exact Name of Registrant as Specified in its Charter) Florida 1-10177 59-1028301 (State or Other (Commission File (IRS Employer of Incorporation) Number) Identification No.) 5980 Miami Lakes Drive, Miami Lakes, Florida 33014 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code (305) 362-2611 N/A (Former Name or Former Address, if Changed Since Last Report) Item 5. Other Events On March 6, 1995, Windmere Corporation (the "Registrant") issued a press release announcing the decision of its Board of Directors to adopt a Common Stock Purchase Rights Plan. Reference is made to the press release filed as Exhibit 4.1 hereto. The information set forth in Exhibit 4.1 is hereby incorporated by reference herein. Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS The following is annexed as an Exhibit: Exhibit Number Description 4.1 Press release, dated March 6, 1995, announcing the Registrant's adoption of a Common Stock Purchase Rights Plan. 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 hereunto duly authorized. WINDMERE CORPORATION Date: March 7, 1995 By: /s/ David M. Friedson David M. Friedson, President and Chief Executive Officer INDEX TO EXHIBITS
Exhibit Number Exhibit Description Page 4.1 Press release, dated March 6, 1995, announcing the Registrant's adoption of a Common Stock Purchase Rights Plan
EX-1 2 FOR IMMEDIATE RELEASE Contact: John A. Heinlein, Treasurer (305) 362-2611 WINDMERE CORPORATION ADOPTS COMMON STOCK PURCHASE RIGHTS PLAN Miami Lakes, Florida (March 6, 1995)--The Board of Directors of Windmere Corporation (NYSE:WND) has adopted a Common Stock Purchase Rights Plan. David M. Friedson, President and Chief Executive Officer, stated that, "The Plan is designed to provide Windmere's Board with negotiating leverage in dealing with a potential acquiror, to guard against unfair or coercive takeover tactics and to prevent an acquiror from gaining control of Windmere without offering a fair price to all shareholders. The Plan is not intended to prevent a takeover on terms beneficial to Windmere's shareholders, but is designed to assure that all of Windmere's shareholders receive fair treatment in the event of any takeover. The Rights are not being distributed in response to any specific effort to acquire control of Windmere and the Board is not aware of any such effort." The Plan entails a dividend of one Right for each outstanding share of Windmere's common stock. Each Right will entitle the holder to purchase one-quarter (1/4) of one share of common stock at an exercise price of $25.00 per full share, under certain circumstances. The Rights will be represented by, and trade with, the certificates for common stock until exercisable and will not entitle the holder to any additional voting or other rights until such time. The Rights will not be exercisable until ten days following a public announcement that a person or group has acquired 15% of Windmere's common stock or until ten business days after a person or group begins a tender offer which would result in the ownership of 15% of Windmere's common stock, which threshold may be reduced by the Board to 10% under certain circumstances. In the event that an acquiror becomes a 15% shareholder (10% under certain circumstances), the Rights "flip in" and become rights to buy Windmere common stock at a 50% discount, and Rights owned by the 15% (or 10%) shareholder become void. In the event that Windmere is merged and its common stock is exchanged or converted or if 50% or more of Windmere's assets or earning power is sold or transferred, the Rights "flip over" and entitle the holders to buy shares of the acquiror's common stock at a 50% discount. A tender or exchange offer for all outstanding shares of Windmere's common stock at a price and on terms determined to be fair and otherwise in the best interests of Windmere and its shareholders by a majority of Windmere's independent directors will not trigger either the flip-in or flip-over provisions. After the Rights become exercisable, but before the acquiring person or group acquires 50% or more of Windmere's common stock, the Board may exchange the Rights for Windmere's common stock at an exchange ratio of 1.56 shares of common stock per Right. The Rights may be redeemed by Windmere for $.00001 per Right at any time until 10 days following the first public announcement that a person or group has acquired beneficial ownership of 15% (10% under certain circumstances) of Windmere's common stock. The Rights extend for 10 years and will expire on March 6, 2005. The distribution of the Rights will be made to shareholders of record on March 1, 1995. Windmere Corporation is a leading manufacturer and distributor of personal care products and other merchandise for the home and professional salons. Windmere's products include hair dryers, curling irons, kitchen electric appliances and electric oscillating fans.
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