-----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, UnNgds5xIgkVh24Fw6Xtj0Iykxjg24knaioMB2BL/9/opVFXV1XZpT4Sie4YNy1+ fSLQE4cU54h+8dg2oeaYhA== 0000950129-95-000635.txt : 19950609 0000950129-95-000635.hdr.sgml : 19950609 ACCESSION NUMBER: 0000950129-95-000635 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950606 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19950608 SROS: AMEX FILER: COMPANY DATA: COMPANY CONFORMED NAME: DIGICON INC CENTRAL INDEX KEY: 0000028866 STANDARD INDUSTRIAL CLASSIFICATION: OIL AND GAS FIELD EXPLORATION SERVICES [1382] IRS NUMBER: 760343152 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07427 FILM NUMBER: 95545977 BUSINESS ADDRESS: STREET 1: 3701 KIRBY DR STREET 2: STE 112 CITY: HOUSTON STATE: TX ZIP: 77098 BUSINESS PHONE: 7135265611 MAIL ADDRESS: STREET 1: 3701 KIRBY DRIVE SUITE 112 CITY: HOUSTON STATE: TX ZIP: 77098 8-K 1 DIGICON INC. - 8-K DATED 06/06/95 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) June 6, 1995 DIGICON INC. ------------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware -------------------------------------------------- (State or other jurisdiction of incorporation) 1-7427 74-1532491 - ---------------------------------------- --------------------------------- (Commission File Number) (IRS Employer Identification No.) 3701 Kirby Drive, Houston, Texas 77098 - ------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (713) 526-5611 ---------------------- Not Applicable ----------------------------------------------------------------- (Former name or former address, if changed since last report) 2 ITEM 5. OTHER EVENTS On June 6, 1995, Digicon Inc. sold its joint venture interests in the former Soviet Union to its partner MD Seis International Limited ("Seis") in consideration for Seis' return to Digicon of 1,708,497 shares of Digicon common stock, and payment to Digicon of approximately $9,000,000 in cash and short term notes, and a royalty of up to $1,500,000 based upon future sales of a current Caspian Sea spec data project. The June 6, 1995 News Release of Digicon Inc. concerning this sale is incorporated herein by reference. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (a) Financial Statements of Businesses Acquired. Not applicable. (b) Pro Forma Financial Information. Not applicable. (c) Exhibits. 20 News Release of Digicon Inc. dated June 6, 1995 (filed herewith). SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. June 8, 1995 DIGICON INC. By: /s/ STEPHEN J. LUDLOW ------------------------------ Stephen J. Ludlow, President -2- EX-20 2 NEWS RELEASE 1 EXHIBIT 20 ================================================================================ [DIGICON INC. LOGO] NEWS RELEASE ================================================================================ FOR IMMEDIATE RELEASE Houston, Texas - Tuesday, June 6, 1995 - Digicon Inc., an integrated worldwide geophysical services company, reported today that it has sold its FSU joint venture interests to its partner MD Seis International Ltd. The joint venture group of companies was formed in 1994 to focus on emerging geophysical opportunities throughout the former Soviet Union. Stephen J. Ludlow, president of Digicon, said "While we continue to recognize the extraordinary opportunities available in the FSU marketplace, the associated risks and capital investment necessary exceed Digicon's current capacity. In the company's opinion, the current requirements of the FSU marketplace are more suited to larger well capitalized companies. Continued involvement by Digicon in the FSU ventures, was considered to be contrary to the Company's near-term stated goals to focus its efforts and investment on performance and efficiency gains in its core conventional markets." Details of the transaction include a return of the 1,708,497 shares of Digicon stock issued to MD Seis for ownership in the joint venture companies in addition to receiving approximately $9,000,000 in cash and short term notes and a royalty of up to $1,500,000 based upon future sales of a current Caspian spec data project. Of the shares returned to Digicon, 850,000 shares have been placed with an institutional investor and the balance of the shares have been returned to the Company as treasury stock. The proceeds of approximately $13,000,000 from the placement of shares and sale of the joint venture interests will be used for debt reduction. Digicon provides seismic data acquisition and processing services on a worldwide basis to the petroleum industry. The Company operates seismic survey ships, land data acquisition crews and geophysical data processing centers around the world. Digicon is a Houston-based company whose common stock is listed on the American Stock Exchange under the symbol "DGC". For additional information, please contact Stephen J. Ludlow or Richard W. McNairy at Digicon Inc., 3701 Kirby Drive, Houston, Texas 77098 (713) 526-5611 or 1-800-DIGICON -----END PRIVACY-ENHANCED MESSAGE-----