-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FLZVip6Aq/d3zRH6sTii41ou8hxhkqVPLcFHa0JIQUDScQ5osTz502kFo8or42oS nd4F1ysks4hx9WAkc46MeA== 0000026987-97-000012.txt : 19970930 0000026987-97-000012.hdr.sgml : 19970930 ACCESSION NUMBER: 0000026987-97-000012 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970922 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19970929 SROS: NYSE SROS: PSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: DDL ELECTRONICS INC CENTRAL INDEX KEY: 0000026987 STANDARD INDUSTRIAL CLASSIFICATION: PRINTED CIRCUIT BOARDS [3672] IRS NUMBER: 330213512 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-08101 FILM NUMBER: 97687703 BUSINESS ADDRESS: STREET 1: 2151 ANCHOR COURT CITY: NEWBURY PARK STATE: CA ZIP: 91320 BUSINESS PHONE: 805-376-9415 MAIL ADDRESS: STREET 1: 2151 ANCHOR COURT CITY: NEWBURY PARK STATE: CA ZIP: 91320 FORMER COMPANY: FORMER CONFORMED NAME: DATA DESIGN LABORATORIES INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: DATA DESIGN LABORATORIES DATE OF NAME CHANGE: 19880817 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): September 22, 1997 _____________________ Exact Name of Registrant as Specified in Its Charter: DDL ELECTRONICS, INC. ______________________________ DELAWARE 1-8101 33-0213512 _____________________________ ____________ _________________ State or Other Jurisdiction of Commission I.R.S. Employer Incorporation or Organization File Number Identification No. Address of Principal Executive Offices: 2151 Anchor Court Newbury Park, CA 91320 _________________________ Registrant's Telephone Number, Including Area Code: (805) 376-9415 _________________________ Former Name or Former Address, if Changed Since Last Report: Not applicable _________________________ Item 5. Other Events. In a press release dated September 26, 1997, a copy of which is attached as Exhibit 99.1, DDL Electronics, Inc. ("DDL") announced that DDL has commenced litigation against Century Electronics Manufacturing, Inc. ("Century") over Century's breach of a financing agreement entered into in May 1997. Under the agreement, Century agreed to provide a loan to DDL of up to $3.3 million by June 1, 1997 for the retirement of certain short-term debt of DDL. Such financing was not made available by Century. On June 30, 1997, DDL obtained alternate financing, which enabled it to repay its short-term debt. DDL's complaint includes claims for breach of contract and fraud, and seeks $5,000,000 in actual damages plus punitive damages. The complaint was filed in the Superior Court of the State of California for the County of Ventura on September 22, 1997. Century has not yet answered the complaint or made an appearance in the case. Item 7. Exhibits. Exhibit Description _______ ____________ 99.1 Press release dated September 26, 1997. 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. DDL ELECTRONICS, INC. September 29, 1997 /s/ Richard K. Vitelle _________________________________ ___________________________________ Date Richard K. Vitelle Vice President - Finance (Principal Financial Officer) EX-99 2 EXHIBIT 99.1 FOR IMMEDIATE RELEASE - --------------------- From: DDL Electronics, Inc. Contact: Rick Vitelle 2151 Anchor Court Chief Financial Officer Newbury Park, California 91320 (805) 376-9415, ext. 142 DDL FILES LAWSUIT AGAINST CENTURY ELECTRONICS MANUFACTURING OVER BREACH OF FINANCING AGREEMENT NEWBURY PARK, CA, September 26, 1997 -- DDL Electronics, Inc. (NYSE:DDL) announced today that it filed a lawsuit against Century Electronics Manufacturing, Inc. over Century's breach of a financing agreement entered into in May 1997. Under the agreement, Century agreed to provide a loan to DDL of up to $3.3 million by June 1, 1997 for the retirement of certain short-term debt of DDL. However, such financing was not made available by Century. As a result, on June 30, 1997 DDL obtained alternate financing from Thomas M. Wheeler, a private investor (as previously announced), which enabled it to repay its short-term debt. Also on June 30, DDL notified Century that its failure to provide a loan of $3.3 million to DDL constituted a material breach of the agreement. The previously announced merger between DDL and Century, which was contingent on Century's performance under the financing agreement, was not consummated. DDL is an independent provider of electronic manufacturing services ("EMS") for electronic equipment manufacturers. DDL also manufactures printed circuit boards ("PCBs") for use primarily in the computer, communications and instrumentation industries. Its EMS facilities are located in Southern California and in Northern Ireland, and its PCB facilities are located in Northern Ireland. # # # -----END PRIVACY-ENHANCED MESSAGE-----