-----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, SDbDOxKGkls8t/ZsEB28vUMvfFc5F7Lq3b0Eez601zv9k2J8zntlynsCPgjdFnYA piSPDoFu8ZRx5BOz+D88/g== 0000906280-97-000114.txt : 19970710 0000906280-97-000114.hdr.sgml : 19970710 ACCESSION NUMBER: 0000906280-97-000114 CONFORMED SUBMISSION TYPE: 8-A12G/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 19970709 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: DELCHAMPS INC CENTRAL INDEX KEY: 0000729970 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-GROCERY STORES [5411] IRS NUMBER: 630245434 STATE OF INCORPORATION: AL FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-A12G/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-12923 FILM NUMBER: 97638307 BUSINESS ADDRESS: STREET 1: 305 DELCHAMPS DR STREET 2: P O BOX 1668 CITY: MOBILE STATE: AL ZIP: 36602 BUSINESS PHONE: 2054330431 MAIL ADDRESS: STREET 1: 305 DELCHAMPS DR STREET 2: PO BOX 1668 CITY: MOBILE STATE: AL ZIP: 36602 8-A12G/A 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-A/A (Amendment No. 2) For Registration of Certain Classes of Securities Pursuant to Section 12(b) or 12(g) of the Securities Exchange Act of 1934 DELCHAMPS, INC. (Exact name of registrant as specified in its charter) Alabama 63-0245434 (State of incorporation (I.R.S. Employer or organization) Identification No.) 305 Delchamps Drive, Mobile, Alabama 36602 (Address of Principal Executive Offices) (Zip Code) Securities to be registered pursuant to Section 12(b) of the Act: None. Title of Each Class Name of Each Exchange on Which to be so Registered: Each Class is to be Registered None None If this Form relates to the registration of a class of debt securities and is effective upon filing pursuant to General Instruction A(c)(1) please check the following box. / / If this Form relates to the registration of a class of debt securities and is to become effective simultaneously with the effectiveness of a concurrent registration statement under the Securities Act of 1933 pursuant to General Instruction A(c)(2) please check the following box. / / Securities to be registered pursuant to Section 12(g) of the Act: PREFERRED SHARE PURCHASE RIGHTS (Title of Class) The undersigned registrant hereby further amends the following items and exhibits of its Registration Statement on Form 8-A (the "Form 8-A"), dated October 18, 1988, registering Preferred Share Purchase Rights, as previously amended by Amendment No. 1 dated November 4, 1992, in the manner set forth below. Item 1. Description of Registrant's Securities to be Registered. On July 8, 1997, Delchamps, Inc. (the "Company") entered into an Agreement and Plan of Merger by and among Jitney-Jungle Stores of America, Inc., Delta Acquisition Corporation, a wholly-owned subsidiary of Jitney-Jungle Stores of America, Inc. (together, "Jitney-Jungle"), and the Company (the "Merger Agreement"). On July 8, 1997, prior to the execution of the Merger Agreement, the Company adopted and executed a Second Amendment (the "Second Amendment") to the Company's Rights Agreement ("Rights Agreement") dated as of October 14, 1988 with First Alabama Bank as Rights Agent, as previously amended by Amendment to Rights Agreement dated as of October 16, 1992 (the "First Amendment"). The description of the Preferred Share Purchase Rights contained in Item 1 of the Form 8-A is attached hereto as Exhibit 1 and is incorporated herein by reference. The Second Amendment amends the Rights Agreement, inter alia, by rescinding the First Amendment; exempting (1) the approval, execution, delivery, amendment and consummation of the Merger Agreement, (2) an all-cash tender offer by Jitney- Jungle for any and all shares of Common Stock of the Company, and (3) Jitney-Jungle and its affiliates and associates, from the definitions of "Acquiring Person," "Beneficial Owner," and "Beneficially Owned" in the Rights Agreement, and from the restrictions imposed by the Rights Agreement on Acquiring Persons generally; and providing for the Preferred Share Purchase Rights to expire immediately prior to the acceptance for purchase of shares of Common Stock by Jitney-Jungle pursuant to its tender offer. A copy of the Second Amendment is attached hereto as Exhibit 4 and is incorporated herein by reference. Item 2. Exhibits. Exhibit No. Description (1) Item 1 of the Form 8-A. (2) Rights Agreement dated as of October 14, 1988 between the Company and First Alabama Bank as Rights Agent (the "Rights Agreement") (previously filed as Exhibit 1 to the Form 8-A, and incorporated herein by reference). (3) First Amendment dated as of October 16, 1992 to the Rights Agreement (previously filed as Exhibit 1 to Amendment No. 1 on Form 8, dated November 4, 1992 to the Form 8-A, and incorporated herein by reference). (4) Second Amendment dated as of July 8, 1997 to the Rights Agreement. Signatures Pursuant to the requirements of Section 12 of the Securities Exchange Act of 1934, the registrant has duly caused this amendment to the registration statement to be signed on its behalf by the undersigned, thereto duly authorized. DELCHAMPS, INC. Date: July 8, 1997 By:/s/ Timothy E. Kullman ---------------------------- Timothy E. Kullman Senior Vice President, Chief Financial Officer, Treasurer and Secretary EX-1 2 EXHIBIT 1 Item 1. Description of Securities To Be Registered. On October 14, 1988, the Board of Directors of Delchamps, Inc. (the "Company") declared a dividend of one preferred share purchase right (a "Right") for each outstanding share of common stock, par value $.01 per share (the "Common Shares"), of the Company. The dividend is payable on October 27, 1988 (the "Record Date") to the stockholders of record on that date. Each Right entitles the registered holder to purchase from the Company one one-hundredth of a share of Series A Junior Participating Preferred Stock, no par value, (the "Preferred Shares"), of the Company at a price of $70 per one one-hundredth of a Preferred Share (the "Purchase Price"), subject to adjustment. The description and terms of the Rights are set forth in a Rights Agreement (the "Rights Agreement") between the Company and First Alabama Bank, as Rights Agent (the "Rights Agent"). Until the earlier to occur of (i) 10 days following a public announcement that a person or group of affiliated or associated persons (an "Acquiring Person") have acquired beneficial ownership of 15% or more of the outstanding Common Shares or (ii) 10 business days (or such later date as may be determined by action of the Board of Directors prior to such time as any Person becomes an Acquiring Person) following the commencement of, or announcement of an intention to make, a tender offer or exchange offer the consummation of which would result in the beneficial ownership by a person or group of 15% or more of such outstanding Common Shares (the earlier of such dates being called the "Distribution Date"), the Rights will be evidenced, with respect to any of the Common Share certificates outstanding as of the Record Date, by such Common Share certificate with a copy of this Summary of Rights attached thereto. The Board has decided to delay the Distribution Date with respect to the tender offer made by Southern Acquisition Corporation, a wholly owned subsidiary of the Great Atlantic & Pacific Tea Company, Inc., to purchase all the Company's outstanding Common Stock, pursuant to an Offer to Purchase dated October 5, 1988 and accompanying letter of transmittal. Common Shares beneficially owned by any Person who is a party to either the Agreement Among Shareholders dated as of October 8, 1987 or the Agreement Among Shareholders dated as of October 14, 1988 or any renewal or extension of either such agreement (such agreements being referred to as the "Stockholders' Agreements") shall not be deemed to be beneficially owned by any other Person who is a party to the Stockholders' Agreements. Further, Common Shares held by any employee benefit plan shall not be deemed to be beneficially owned by any trustee or administrator or administrative committee thereunder if pursuant to the terms of such plan, Common Shares allocated to the accounts of participants therein may be voted or tendered in a tender or exchange offer at the discretion of the participants, and Common Shares not allocated to the account of any participant are to be voted in the same way that a majority of the allocated Common Shares are voted, and Common Shares not allocated to the account of any participant are to be tendered in the same proportion that allocated Common Shares are tendered. The Rights Agreement provides that, until the Distribution Date, the Rights will be transferred with and only with the Common Shares. Until the Distribution Date (or earlier redemption or expiration of the Rights), new Common Share Certificates issued after the Record Date, upon transfer or new issuance of Common Shares, will contain a notation incorporating the Rights Agreement by reference. Until the Distribution Date (or earlier redemption or expiration of the Rights), the surrender for transfer of any certificates for Common Shares, outstanding as of the Record Date, even without such notation or a copy of this Summary of Rights being attached thereto, will also constitute the transfer of the Rights associated with the Common Shares represented by such certificate. As soon as practicable following the Distribution Date, separate certificates evidencing the Rights ("Right Certificates") will be mailed to holders of record of the Common Shares as of the close of business on the Distribution Date and such separate Right Certificates alone will evidence the Rights. The Rights are not exercisable until the Distribution Date. The Rights will expire on October 27, 1998 (the "Final Expiration Date"), unless the Final Expiration Date is extended or unless the Rights are earlier redeemed by the Company, in each case, as described below. The Purchase Price payable, and the number of Preferred Shares or other securities or property issuable, upon exercise of the Rights are subject to adjustment from time to time to prevent dilution (i) in the event of a stock dividend on, or a subdivision, combination or reclassification of, the Preferred Shares, (ii) upon the grant to holders of the Preferred Shares of certain rights or warrants to subscribe for or purchase Preferred Shares at a price, or securities convertible into Preferred Shares with a conversion price, less than the then current market price of the Preferred Shares or (iii) upon the distribution to holders of the Preferred Shares of evidence of indebtedness or assets (excluding regular periodic cash dividends paid out of earnings or retained earnings or dividends payable in Preferred Shares) or of subscription rights or warrants (other than those referred to above). The number of outstanding Rights and the number of one one- hundredths of a Preferred Share issuable upon exercise of each Right are also subject to adjustment in the event of a stock split of the Common Shares or a Stock dividend on the Common Shares payable in Common Shares or subdivisions, consolidations or combinations of the Common Shares occurring, in any such case, prior to the Distribution Date. Preferred Shares purchasable upon exercise of the Rights will not be redeemable. Each Preferred Share will be entitled to a minimum preferential quarterly dividend payment of $1 per share but will be entitled to an aggregate dividend of 100 times the dividend declared per Common Share. In the event of liquidation, the holders of the Preferred Shares will be entitled to a minimum preferential liquidation payment of $100 per share but will be entitled to an aggregate payment of 100 times the payment made per Common Share. Each Preferred Share will have 100 votes, voting together with the Common Shares. Finally, in the event of any merger, consolidation or other transaction in which Common Shares are exchanged, each Preferred Share will be entitled to receive 100 times the amount received per Common Share. These rights are protected by customary antidilution provisions. Because of the nature of the Preferred Shares' dividend, liquidation and voting rights, the value of the one one-hundredth interest in a Preferred Share purchasable upon exercise of each Right should approximate the value of one Common Share. In the event that the Company is acquired in a merger or other business combination transaction or 50% or more of its consolidated assets or earning power are sold, proper provision will be made so that each holder of a Right will thereafter have the right to receive, upon the exercise thereof at the then current exercise price of the Right, that number of shares of common stock of the acquiring company which at the time of such transaction will have a market value of two times the exercise price of the Right. In the event that (i) any person or group of affiliated or associated persons becomes the beneficial owner of 15% or more of the outstanding Common Shares (unless such person first acquired 15% or more of the outstanding Common Shares by a purchase pursuant to a tender offer for all of the Common Shares for cash, which purchase increases such person's beneficial ownership to 80% or more of the outstanding Common Shares) or (ii) during such time as there is an Acquiring Person, there shall be a reclassification of securities or a recapitalization or reorganization of the Company or other transaction or series of transactions involving the Company which has the effect of increasing by more than 1% the proportionate share of the outstanding shares of any class of equity securities of the Company or any of its subsidiaries beneficially owned by the Acquiring Person, proper provision shall be made so that each holder of a Right, other than Rights beneficially owned by the Acquiring Person (which will thereafter be void), will thereafter have the right to receive upon exercise that number of Common Shares having a market value of two times the exercise price of the Right. At any time after the acquisition by a person or group of affiliated or associated persons of beneficial ownership of 15% or more of the outstanding Common Shares and prior to the acquisition by such person or group of 50% or more of the outstanding Common Shares, the Board of Directors of the Company may exchange the Rights (other than Rights owned by such person or group which have become void), in whole or in part, at an exchange ratio of one Common Share, or one one-hundredth of a Preferred Share (or of a share of a class or series of the Company's preferred stock having equivalent rights, preferences and privileges), per Right (subject to adjustment). With certain exceptions, no adjustment in the Purchase Price will be required until cumulative adjustments require an adjustment of at least 1% in such Purchase Price. No fractional Preferred Shares will be issued (other than fractions which are integral multiples of one one-hundredth of a Preferred Share, which may, at the election of the Company, be evidenced by depositary receipts) and in lieu thereof, an adjustment in cash will be made based on the market price of the Preferred Shares on the last trading day prior to the date of exercise. At any time prior to the acquisition by a person or group of affiliated or associated persons of beneficial ownership of 50% or more of the outstanding Common Shares, the Board of Directors of the Company may redeem the Rights in whole, but not in part, at a price of $.01 per Right (the "Redemption Price"). The redemption of the rights may be made effective at such time on such basis and with such conditions as the Board of Directors in its sole discretion may establish. Immediately upon any redemption of the Rights, the right to exercise the Rights will terminate and the only right of the holders of Rights will be to receive the Redemption Price. The terms of the Rights may be amended by the Board of Directors of the Company without the consent of the holders of the Rights, except that from and after such time as any person becomes an Acquiring Person no such amendment may adversely affect the interests of the holders of the Rights and except that certain percentage thresholds may not be lowered. Until a Right is exercised, the holder thereof, as such, will have no rights as a stockholder of the Company, including, without limitation, the right to vote or to receive dividends. The Rights Agreement, dated as of October 14, 1988, between the Company and First Alabama Bank as Rights Agent, specifying the terms of the Rights, the press release announcing the declaration of the Rights and a letter to the Company's shareholders, dated October 17, 1988, explaining the Rights, are attached hereto as exhibits and are incorporated herein by reference. The foregoing description of the Rights is qualified by reference to such exhibits. EX-4 3 EXHIBIT 4 SECOND AMENDMENT TO RIGHTS AGREEMENT AMENDMENT, dated and effective as of July 8, 1997, to the Rights Agreement, dated as of October 14, 1988 (the "Rights Agreement"), between Delchamps, Inc., an Alabama corporation (the "Company"), and AmSouth Bank, successor to First Alabama Bank (the "Rights Agent"), as heretofore amended by an Amendment to Rights Agreement, dated as of October 16, 1992, between the Company and the Rights Agent (the "First Amendment"). The Company and the Rights Agent have heretofore executed and entered into the Rights Agreement and the First Amendment. Pursuant to Section 27 of the Rights Agreement, the Company and the Rights Agent may amend or supplement the Rights Agreement in accordance with the provisions of Section 27 thereof. All acts and things necessary to make this Second Amendment a valid agreement according to its terms have been done and performed, and the execution and delivery of this Agreement by the Company and the Rights Agent have been in all respects authorized by the Company and the Rights Agent. In consideration of the foregoing premises and mutual agreements set forth in the Rights Agreement as heretofore amended and this Amendment, the parties hereby agree as follows: 1. The Rights Agreement as heretofore amended is hereby further amended by deleting the First Amendment in its entirety so as to restore the Rights Agreement (subject to the further amendments set forth hereinbelow) to the form in which it was originally executed on October 14, 1988. 2. The Rights Agreement as heretofore amended is hereby further modified and amended by deleting the first sentence of paragraph (a) of Section 1 and substituting therefor the following: (a) "Acquiring Person" shall mean any Person (as such term is hereinafter defined) who or which, together with all Affiliates and Associates (as such terms are hereinafter defined) of such Person, shall be the Beneficial Owner (as such term is hereinafter defined) of 15% or more of the Common Shares of the Company then outstanding, but shall not include the Company, any Subsidiary (as such term is hereinafter defined) of the Company, any employee benefit plan of the Company or any Subsidiary of the Company or any entity holding Common Shares for or pursuant to the terms of any such plan, or Jitney-Jungle Stores of America, Inc., a Mississippi corporation, or its Subsidiaries, Affiliates or Associates (hereinafter, collectively, "Jitney-Jungle"). 3. The Rights Agreement, as heretofore amended, is hereby further modified and amended by adding an additional paragraph at the end of the definition of the terms "Beneficial Owner" and "beneficially own" in paragraph (c) of Section 1 reading as follows: Notwithstanding anything in this definition of Beneficial Owner and Beneficial Ownership to the contrary, Jitney-Jungle shall not be deemed to be the Beneficial Owner of, nor to beneficially own, any of the Common Shares of the Company solely by reason of the approval, execution or delivery by any party thereto, or by reason of the amendment or consummation of an Agreement and Plan of Merger by and among Jitney-Jungle Stores of America, Inc., Delta Acquisition Corporation, and Delchamps, Inc. dated and effective as of July 8, 1997 (the "Merger Agreement"). 4. The Rights Agreement, as heretofore amended, is hereby further modified and amended by deleting the first sentence of paragraph (a) of Section 3 of the Rights Agreement and substituting therefor the following: (a) Until the earlier of (i) the tenth day after the Shares Acquisition Date or (ii) the tenth business day (or such later date as may be determined by action of the Board of Directors prior to such time as any Person becomes an Acquiring Person) after the date of commencement by any Person (other than the Company, any Subsidiary of the Company, any employee benefit plan of the Company or of any Subsidiary of the Company or any entity holding Common Shares for or pursuant to the terms of any such plan, or Jitney-Jungle) of, or of the first public announcement of the intention of any Person (other than the Company, any Subsidiary of the Company, any employee benefit plan of the Company or of any Subsidiary of the Company or any entity holding Common Shares for or pursuant to the terms of any such plan or Jitney-Jungle) to commence, a tender or exchange offer the consummation of which would result in any Person becoming the Beneficial Owner of Common Shares aggregating 15% or more of the then outstanding Common Shares (including any such date which is after the date of this Agreement and prior to the issuance of the Rights; the earlier of such dates being herein referred to as the "Distribution Date"), (x) the Rights will be evidenced (subject to the provisions of Section 3(b) hereof) by the certificates for Common Shares registered in the names of the holders thereof (which certificates shall also be deemed to be Right Certificates) and not by separate Right Certificates, and (y) the right to receive Right Certificates will be transferable only in connection with the transfer of Common Shares. 5. The Rights Agreement as heretofore amended is hereby further modified and amended by deleting paragraph (a) of Section 7 and substituting therefor the following: (a) The registered holder of any Right Certificate may exercise the Rights evidenced thereby (except as otherwise provided herein) in whole or part at any time after the Distribution Date upon surrender of the Right Certificate, with the form of election to purchase on the reverse side thereof duly executed, to the Rights Agent at the principal office of the Rights Agent, together with payment of the Purchase Price for each one one-hundredth of a Preferred Share as to which the Rights are exercised, at or prior to the earliest of (i) the close of business on October 27, 1998 (the "Final Expiration Date"), (ii) the time at which the Rights are redeemed as provided in Section 23 hereof (the "Redemption Date"), (iii) the time at which such rights are exchanged as provided in Section 24 hereof, or (iv) immediately prior to the acceptance for purchase of Common Shares by Jitney-Jungle pursuant to the Offer (as such term is defined in the Merger Agreement). 6. The Rights Agreement as heretofore amended is hereby further amended by adding the following new Section 34 at the end: Section 34. Jitney-Jungle Transaction. Notwithstanding anything in this Agreement to the contrary, neither (a) the approval, execution, delivery, amendment or consummation of the Merger Agreement or (b) the public announcement or making of a tender offer by Jitney-Jungle for Common Shares of the Company, or the acceptance for purchase of such shares thereunder, shall cause (i) Jitney-Jungle to become an Acquiring Person, (ii) a Shares Acquisition Date to occur, or (iii) a Distribution Date to occur. Any Distribution Date that might or could otherwise occur under this Agreement shall be indefinitely deferred until such time as the Board of Directors may otherwise determine. 7. This Second Amendment to the Rights Agreement shall be governed by and construed in accordance with the internal laws of the State of Alabama. 8. This Second Amendment to the Rights Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed an original, and all such counterparts shall together constitute but one and the same instrument. 9. Except as expressly set forth herein, this Second Amendment to the Rights Agreement shall not by implication or otherwise alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Rights Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect. IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to the Rights Agreement to be duly executed on and as of the day and year first above written. Attest: DELCHAMPS, INC. By: /s/ Timothy E. Kullman By: /s/ David W. Morrow ------------------------ ----------------------- Name: Timothy E. Kullman Name: David W. Morrow Title: Senior Vice President and Title: Chairman and Chief Chief Financial Officer Executive Officer Attest: AMSOUTH BANK By: /s/ Kara Lee Partin By: /s/ David E. White --------------------------- ----------------------- Name: Kara Lee Partin Name: David E. White Title: Assistant Vice President Title: Senior Vice President -----END PRIVACY-ENHANCED MESSAGE-----