-----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, IbwtMPssgg06lYisK+mBz6W3gQes40J4Kl9JYV2yvWHrmJ5VxBwVTylIvsBRwqQr 1/KZg5+2s+1cn8dHQ/4FGg== 0000707606-95-000019.txt : 19950606 0000707606-95-000019.hdr.sgml : 19950606 ACCESSION NUMBER: 0000707606-95-000019 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19950601 ITEM INFORMATION: Other events FILED AS OF DATE: 19950605 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: SYSTEMS & COMPUTER TECHNOLOGY CORP CENTRAL INDEX KEY: 0000707606 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] IRS NUMBER: 231701520 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-11521 FILM NUMBER: 95545064 BUSINESS ADDRESS: STREET 1: GREAT VALLEY CORPORATE CTR STREET 2: 4 COUNTRY VIEW RD CITY: MALVERN STATE: PA ZIP: 19355 BUSINESS PHONE: 6106475930 8-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 1, 1995 SYSTEMS & COMPUTER TECHNOLOGY CORPORATION (Exact name of registrant as specified in its charter) Delaware 0-11521 23-1701520 (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation or Organization) File Number) Identification No.) Great Valley Corporate Center 4 Country View Road Malvern, Pennsylvania 19355 (Address of principal executive offices) (Registrant's telephone number, including area code): (610) 647-5930 Page 1 of 2 pages (PAGE) Item 5. OTHER EVENTS. On June 1, 1995, the Company acquired Adage Systems International, Inc., a Michigan corporation ("Adage"), pursuant to the Agreement and Plan of Merger and Reorganization dated May 12, 1995 (the "Agreement"), a copy of which was attached as Exhibit A to the Company's Current Report on Form 8-K dated May 12, 1995. The consideration consisted of 1,000,000 shares of common stock ("Common Stock") of the Company. The Company will be required to pay additional consideration to the shareholders of Adage, in either additional shares of Common Stock or a combination of additional shares of Common Stock and cash, in the event that the market price of the Common Stock approximately five years after the closing is lower than a base price. The base price may not be lower than $15 nor higher than $50, and will be determined pursuant to a formula tied to the pretax profits of Adage during the five-year period commencing October 1, 1995. The additional consideration, if required to be made, will be made first with additional shares of Common Stock, and only if the maximum number of shares of Common Stock issuable pursuant to the Agreement (2,545,000) is reached will the balance be paid in cash, subject to certain limitations. Within 6 months following closing, the Company will be required to loan not more than $1,500,000 to certain of the shareholders of Adage for approximately five years. The loans will be non-recourse and secured by shares of Common Stock. At the closing, the Company loaned $110,000 pursuant to such requirement. SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SYSTEMS & COMPUTER TECHNOLOGY CORPORATION Date: June 5, 1995 By: /s/ Richard A. Blumenthal _______________________________ Name: Richard A. Blumenthal Title: Senior Vice President -----END PRIVACY-ENHANCED MESSAGE-----