-----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, RD1tD+ljLHItSkRJOBIAIx2PxpH74jtdZVTEFNaIycowi5IrDQfYnnuFnVrmTIjR 1y9w/w74N8LllAZzhqDqTw== 0001104659-06-038869.txt : 20060601 0001104659-06-038869.hdr.sgml : 20060601 20060601170215 ACCESSION NUMBER: 0001104659-06-038869 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20060601 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060601 DATE AS OF CHANGE: 20060601 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VERITAS DGC 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: 06880699 BUSINESS ADDRESS: STREET 1: 10300 TOWN PARK DR CITY: HOUSTON STATE: TX ZIP: 77072 BUSINESS PHONE: 7135128300 MAIL ADDRESS: STREET 1: 10300 TOWN PARK DR CITY: HOUSTON STATE: TX ZIP: 77072 FORMER COMPANY: FORMER CONFORMED NAME: DIGICON INC DATE OF NAME CHANGE: 19920703 8-K 1 a06-13040_18k.htm CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES

 

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):  June 1, 2006

 


 

Veritas DGC Inc.

(Exact Name of Registrant as Specified in Its Charter)

 

Delaware

(State or Other Jurisdiction of Incorporation)

 

1-7427

 

76-0343152

(Commission File Number)

 

(I.R.S. Employer Identification No.)

 

 

 

10300 Town Park Drive

 

 

Houston, Texas

 

77072

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code:  (832) 351-8300

 

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 (see General Instruction A.2. below):

 

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

 

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

 

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

 

o            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 June 1, 2006, the registrant entered into a letter of intent with Matco Capital Ltd. (Matco) to sell its land seismic acquisition business for an undisclosed consideration.

 

In fiscal year 2005 the land seismic acquisition business of Veritas generated approximately US $140 million of revenue, or approximately 22 percent of the consolidated revenue of Veritas. Closing is expected to occur in the summer of 2006 and is contingent upon reaching a definitive agreement as well as receipt of regulatory and other approvals.

 

On June 1, 2006, registrant issued a press release announcing the signing of the letter of intent. A copy of the press release is attached as Exhibit 99.1.

 

Item 9.01               Financial Statements and Exhibits

 

(c)           Exhibit

 

Exhibit No.

 

Description

 

 

 

99.1

 

Press release issued June 1, 2006

 

2



 

SIGNATURES

 

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.

 

 

 

 

 

VERITAS DGC INC.

 

 

 

 

 

 

 

 

 

 

Date:

June 1, 2006

 

By:

/s/ LARRY L. WORDEN

 

 

 

 

 

Name:

Larry L. Worden

 

 

 

 

Title:

Vice President, General Counsel and

 

 

 

 

 

Secretary

 

3



 

EXHIBIT INDEX

 

Exhibit No.

 

Description

 

 

 

99.1

 

Press release issued June 1, 2006

 

4


EX-99.1 2 a06-13040_1ex99d1.htm EX-99

Exhibit 99.1

 

 

VERITAS DGC INC. ANNOUNCES LETTER OF INTENT TO SELL

 

LAND SEISMIC ACQUISITION BUSINESS

 

Houston, Texas – June 1, 2006 – Veritas DGC Inc. (NYSE: VTS) announced today that it has entered into a letter of intent with Matco Capital Ltd. (Matco) to sell its land seismic acquisition business for an undisclosed consideration.

 

In fiscal year 2005 the land seismic acquisition business of Veritas generated approximately US $140 million of revenue, or approximately 22 percent of the consolidated revenue of Veritas. Closing is expected to occur in the summer of 2006 and is contingent upon reaching a definitive agreement as well as receipt of regulatory and other approvals. Peters & Co. Limited is acting as financial advisor to Veritas in the transaction.

 

Chairman and CEO Thierry Pilenko commented, “We believe this transaction will create superior value for Veritas stockholders by improving our return on capital through the cycles of the seismic industry and by enabling us to focus on our most differentiated services. We will concentrate our resources on growing our land and marine data libraries, land and marine data processing, marine acquisition, and software and consulting services, as these activities best leverage Veritas’s intellectual capital worldwide. Specifically, in marine acquisition, we have committed to charter a newly constructed world class seismic vessel expected for delivery in the first quarter of 2007 and, in land and marine data library, we are significantly accelerating the growth of these programs.”

 

Matco management said, “We are excited to have the opportunity to acquire the land acquisition business of Veritas. Its strong position and reputation in the marketplace and industry leading personnel combined with an exclusive relationship to acquire data for the Veritas land library provides an excellent platform for growth.”

 

Veritas DGC cautions that statements in this release may constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These include statements as to expectations, beliefs and future financial performance, such as statements regarding its business prospects. All of these are based on current information and expectations that are subject to a number of risks, uncertainties and assumptions. These risks and uncertainties are more fully described in Veritas DGC’s reports filed with the U.S. Securities and

 



 

Exchange Commission. Should one or more of these risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary in material respect from those currently anticipated.

 

Veritas DGC Inc., headquartered in Houston, Texas, is a leading provider of integrated geophysical information and services to the petroleum industry worldwide.

 

For additional information, please contact:

 

Mindy Ingle, Investor Relations

 

(832) 351-8821

 


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