-----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, Cq+nROWF9bBNRkF/OgIZSTcZsZEXcb3IdjYAH3XrKUeMjp1nlNgavMYp/6M7MCPF NZ0TEUPGJX9XHgLjEE62bg== 0000898430-95-000488.txt : 19950414 0000898430-95-000488.hdr.sgml : 19950406 ACCESSION NUMBER: 0000898430-95-000488 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950214 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19950405 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: MISSION WEST PROPERTIES/NEW/ CENTRAL INDEX KEY: 0000704874 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE OPERATORS (NO DEVELOPERS) & LESSORS [6510] IRS NUMBER: 952635431 STATE OF INCORPORATION: CA FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08383 FILM NUMBER: 95527006 BUSINESS ADDRESS: STREET 1: 6815 FLANDERS DR STE 250 CITY: SAN DIEGO STATE: CA ZIP: 92121 BUSINESS PHONE: 6194503135 MAIL ADDRESS: STREET 1: 6815 FLANDERS DR STREET 2: SUITE 250 CITY: SAN DIEGO STATE: CA ZIP: 92121-3914 8-K 1 FORM 8-K 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): FEBRUARY 14, 1995 Commission File Number 1-8383 MISSION WEST PROPERTIES Incorporated in California IRS Employer Identification Number: 95-2635431 Principal Executive Offices: Telephone: (619) 450-3135 6815 Flanders Drive, Suite 250 San Diego, California 92121-3914 Item 5: Other Events ------------ On or about February 14, 1995, Mission West Properties (the "Company") commenced mailing of its Annual Report and Proxy Statement to shareholders. The Company's Form 10-K and Definitive Proxy Statement were concurrently filed with the Securities and Exchange Commission via EDGAR. The Company's Annual Report consists of the Form 10-K accompanied by a President's letter, a picture of one of the Company's properties, and a listing of the Company's officers, directors, and certain other information. Attached herein as Exhibit 99 is the President's letter, a description of the picture, and the other information. Item 7: Exhibits -------- (99) Additional Exhibits: Annual Report for the fiscal year ended November 30, 1994. 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. MISSION WEST PROPERTIES - ----------------------- Registrant By: /s/ Katrina L. Thompson ------------------------------------------------ Katrina L. Thompson Chief Financial Officer & Secretary (Principal Financial and Accounting Officer) April 4, 1995 2 EX-99 2 MISC. EXHIBIT Exhibit 99 - ---------- Mission West Properties Description of 1994 Annual Report Page 1 Description of Annual Report front cover: computer-modified photograph, covering the entire page, of a concrete tilt-up two-story building owned by the Company with palm trees and other landscaping in the foreground. Text consists of: MISSION WEST PROPERTIES ANNUAL REPORT 1994 Description of Annual Report inside front cover: repeat of photograph contained on front cover, covering 1/3 of the page. Text consists of the President's letter, as follows: TO OUR SHAREHOLDERS For the fiscal year ended November 30, 1994, the Company reported a net loss of $1,943,000, which compares to a net loss of $1,065,000 in the previous year. The fiscal 1994 results include significant nonrecurring items comprising a $5,200,000 provision for estimated losses on real estate, $1,500,000 in revenue from the settlement of a claim related to a profits interest in a property previously sold, and a $440,000 cumulative effect from a change in accounting for income taxes. The provision for estimated losses on real estate arose as a result of entering into an agreement in November 1994 to sell substantially all of the Company's real estate assets; the agreement was terminated by the purchaser in February 1995. This adjustment represented the difference between the carrying value of the real estate and the value of the proposed transaction. We continue to actively manage our real estate projects. By maintaining the properties in a quality condition and providing superior service to tenants, the properties remain attractive from a leasing, as well as an investment, perspective. During the year, we were successful in leasing or renewing approximately 180,000 square feet of commercial office and industrial space, or 22 percent of the portfolio, with minimal expenditures for refurbishments. Portfolio occupancy averaged 84 percent during the year. It appears as though the southern California economy is improving, although modestly. We are optimistic that this improvement, combined with our efforts, will translate into increased occupancy, higher rental rates, and ultimately into increases in the value of our real estate investments. In accordance with our objectives for the long-term, we will continue to consider strategies outside our normal activities. We have the option and ability to pursue certain strategic alternatives as a result of many factors, including the quality of our projects, our cash reserves, and our stable debt position. We will continue to refine property operations and continue toward our goal of enhancing shareholder value. We appreciate your continued support. Sincerely, J. Gregory Kasun President and Chief Executive Officer 1 Exhibit 99 - ---------- Mission West Properties Description of 1994 Annual Report Page 2 Contents of the annual report consist solely of the Form 10-K filed for the year ended November 30, 1994, previously filed with the Securities and Exchange Commission via EDGAR. Description of Annual Report inside back cover: repeat of photograph contained on front cover, covering 1/3 of the page. Text consists of the following Company data: DIRECTORS LEGAL COUNSEL Michael M. Earley Pillsbury Madison President & Chief Operating Officer, & Sutro Triton Group Ltd. San Diego, California Mark G. Foletta INDEPENDENT ACCOUNTANTS Senior Vice President & Price Waterhouse Chief Financial Officer San Diego, California Triton Group Ltd. REGISTRAR/TRANSFER AGENT J. Gregory Kasun First Interstate Bank President & Los Angeles, California Chief Executive Officer Mission West Properties SECURITIES TRADED American Stock Exchange William E. Nelson Pacific Stock Exchange Chairman of the Board, Symbol: MSW Scripps Bank Newspaper Listing: MissnW President & Chief Executive Officer, Scripps Institutions of Medicine and Science John C. Stiska Chairman & OFFICERS Chief Executive Officer Triton Group Ltd. Harve Filuk Vice President Richard R. Tartre Managing Director, J. Gregory Kasun Eden Financial Group, Inc. President & Chief Executive Officer Byron B. Webb, Jr. President, Katrina L. Thompson La Jolla Savers & Mortgage Chief Financial Officer & Fund Secretary 2 Exhibit 99 - ---------- Mission West Properties Description of 1994 Annual Report Page 3 Description of Annual Report back cover: repeat of photograph contained on front cover, covering 1/2 of the page. Text consists of the following Company data: MISSION WEST PROPERTIES 6815 Flanders Drive Suite 250 San Diego California 92121-3914 619.450.3135 FAX 619.450.1618 3 -----END PRIVACY-ENHANCED MESSAGE-----