-----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, GS1LxylYuT+iPYwC/6ZlSOMVcKohILvR9NvkgdKdS26Z+vCcq8845TSOgY45I7ct QqGylz71h6bH9gHn0Bccig== 0000950115-98-000751.txt : 19980515 0000950115-98-000751.hdr.sgml : 19980515 ACCESSION NUMBER: 0000950115-98-000751 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980416 ITEM INFORMATION: FILED AS OF DATE: 19980417 SROS: AMEX FILER: COMPANY DATA: COMPANY CONFORMED NAME: IGI INC CENTRAL INDEX KEY: 0000352998 STANDARD INDUSTRIAL CLASSIFICATION: 2836 IRS NUMBER: 010355758 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-08568 FILM NUMBER: 98596627 BUSINESS ADDRESS: STREET 1: WHEAT RD AND LINCOCN AVE STREET 2: P O BOX 687 CITY: BUENA STATE: NJ ZIP: 08310 BUSINESS PHONE: 6096971441 MAIL ADDRESS: STREET 1: WHEAT ROAD AND LINCOCN AVE STREET 2: P O BOX 687 CITY: BUENA STATE: NJ ZIP: 08310 FORMER COMPANY: FORMER CONFORMED NAME: IMMUNOGENETICS INC DATE OF NAME CHANGE: 19870814 8-K 1 CURRENT REPORT ================================================================================ 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 April 16, 1998 ------------------------------------------------------------------------------ Date of Report (Date of earliest event reported) IGI, INC. ------------------------------------------------------------------------------ (Exact Name of Registrant as Specified in its Charter) DELAWARE 1-8568 01-0355758 ------------------------- ----------------- ---------------------- (State or Other (Commission (IRS Employer Jurisdiction of File Number) Identification Incorporation) Number) WHEAT ROAD AND LINCOLN AVENUE BUENA, NJ 08310 ------------------------------------------------------------------------------ (Address of Principal Executive Offices, Including Zip Code) (609) 697-1441 ------------------------ (Registrant's telephone number, including area code) NOT APPLICABLE ------------------------ (Former name or Former Address, if Changed Since last Report) ================================================================================ Item 5. Other Events On April 16, 1998, the Company announced that the filing of its 1997 annual report on Form 10-K continues to be delayed because the investigation, by special counsel engaged by the Board of Directors, of information which may have a material impact on the Company's financial reporting for 1997 and prior periods remains ongoing. Accordingly, the Company cannot complete the procedures it deems necessary to prepare its 1997 financial statements. The Company also announced that it has made extensive changes in its management team following regulatory compliance actions brought by the United States Department of Agriculture. The foregoing description of events is qualified by the Press Release dated April 16, 1998, which is filed as Exhibit 99 to this Current Report on Form 8-K and incorporated herein by reference. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits (a) and (b) N/A (b) Exhibits: The following exhibits are filed with this report: Exhibit No. Description ----------- ----------- 99 Press Release dated April 16, 1998 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. IGI, INC. Date: April 16, 1998 By: /s/ Kevin J. Bratton ------------------------------ Kevin J. Bratton Vice President and Treasurer EXHIBIT INDEX ------------- Exhibit No Description - - ---------- ----------- 99 Press Release dated April 16, 1998 EX-99 2 PRESS RELEASE EXHIBIT 99 IGI ANNOUNCES PERSONNEL CHANGES AND CONTINUED DELAY IN FILING OF ANNUAL REPORT ON FORM 10-K Release Date: April 16, 1998 Contact: Thomas Redington (203) 222-7399 BUENA, NJ, APRIL 16, 1998 - IGI, INC. (AMEX:IG) announced today that the filing of its 1997 annual report on Form 10-K with the Securities and Exchange Commission and AMEX continues to be delayed because the investigation, by special counsel engaged by the Board of Directors, of information which may have a material impact on the Company's financial reporting for 1997 and prior periods remains ongoing. Accordingly, the Company can not complete the procedures it deems necessary to prepare its 1997 financial statements. The Company is unable at this time to state when it will file its 1997 annual report on Form 10-K. Trading of IGI's common stock on the American Stock Exchange will remain halted until the Form 10-K for 1997 is filed with the SEC and AMEX. IGI is unable at this time to state when trading of its stock on AMEX will resume. The Company also announced that it has made extensive personnel changes in its management team following regulatory compliance actions brought by the United States Department of Agriculture ("USDA"). At the Company's request, six members of the management team including two vice presidents have resigned in addition to the termination in November 1997 of IGI's former President and Chief Operating Officer, John P. Gallo. After completion of its internal investigation, the Company may decide to terminate other employees for misconduct. The Company has undertaken a substantial ongoing restructuring effort to effect changes needed to improve performance. In this connection, management believes it has made good progress in bringing the Company into compliance with USDA requirements. All the vaccines previously affected by the USDA's June 1997 Stop Sale and Shipment order have been released for shipment. ### IGI is a diversified company segmented into two business areas: Animal Health and Skin Care and Consumer Products. The Company's growing Skin Care and Consumer Products business is primarily based on the Patented Novasome technology. Licensed from a former subsidiary, the technology offers value-added qualities to cosmetics, skin care products, vaccines, medicines, foods, beverages, and other products. -----END PRIVACY-ENHANCED MESSAGE-----