0000950117-01-501220.txt : 20011008
0000950117-01-501220.hdr.sgml : 20011008
ACCESSION NUMBER: 0000950117-01-501220
CONFORMED SUBMISSION TYPE: S-8
PUBLIC DOCUMENT COUNT: 6
FILED AS OF DATE: 20010920
EFFECTIVENESS DATE: 20010920
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: REX STORES CORP
CENTRAL INDEX KEY: 0000744187
STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-RADIO TV & CONSUMER ELECTRONICS STORES [5731]
IRS NUMBER: 311095548
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0131
FILING VALUES:
FORM TYPE: S-8
SEC ACT: 1933 Act
SEC FILE NUMBER: 333-69690
FILM NUMBER: 1741137
BUSINESS ADDRESS:
STREET 1: 2875 NEEDMORE RD
CITY: DAYTON
STATE: OH
ZIP: 45414
BUSINESS PHONE: 5132763931
FORMER COMPANY:
FORMER CONFORMED NAME: AUDIO VIDEO AFFILIATES INC
DATE OF NAME CHANGE: 19920703
S-8
1
a31349.txt
REX STORES CORPORATION S-8
Registration No. 333-
===============================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
REX Stores Corporation
(Exact name of registrant as specified in its charter)
Delaware 31-1095548
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
2875 Needmore Road
Dayton, Ohio 45414
(Address of principal executive offices) (Zip Code)
2001 Nonqualified Executive Stock Options
(Full title of the plan)
Stuart A. Rose
Chairman
REX Stores Corporation
2875 Needmore Road
Dayton, Ohio 45414
(Name and address of agent for service)
(937) 276-3931
(Telephone number, including area code, of agent for service)
CALCULATION OF REGISTRATION FEE
Proposed Proposed
Title of securities Amount to be maximum offering maximum aggregate Amount of
to be registered registered price per share offering price registration fee
Common Stock,
$.01 par value..... 975,000 shares(1) $12.01(1) $11,709,750 $ 2,927
(1) Adjusted to reflect a 3-for-2 stock split in the form of a 50% stock
dividend payable August 10, 2001 to shareholders of record at the close of
business on July 31, 2001.
================================================================================
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1. Plan Information.
Item 2. Registrant Information and Employee Plan Annual Information.
The information required by Part I to be contained in the Section 10(a)
prospectus is omitted from this registration statement in accordance with Rule
428 and the Note to Part I of Form S-8.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents filed by REX Stores Corporation (the "Company")
with the Securities and Exchange Commission are incorporated by reference in
this registration statement:
1. The Company's Annual Report on Form 10-K for the fiscal year ended
January 31, 2001.
2. The Company's Quarterly Reports on Form 10-Q for the quarters ended
April 30 and July 31, 2001.
3. The description of the shares of common stock of the Company contained
in the Company's Registration Statement on Form 8-A filed under the
Securities Exchange Act of 1934 and any amendment or report filed for the
purpose of updating such description.
All documents subsequently filed by the Company pursuant to Sections 13(a),
13(c), 14 and 15(d) of the Securities Exchange Act of 1934, prior to the filing
of a post-effective amendment which indicates that all securities offered have
been sold or which deregisters all securities then remaining unsold, shall be
deemed to be incorporated by reference in this registration statement and to be
a part hereof from the date of filing of such documents. Any statement contained
herein or in a document incorporated or deemed to be incorporated by reference
herein shall be deemed to be modified or superseded for purposes of this
registration statement to the extent that a statement contained herein or in any
other subsequently filed document which also is or is deemed to be incorporated
by reference herein modifies or supersedes such statement. Any such statement so
modified or
2
superseded shall not be deemed, except as so modified or superseded, to
constitute a part of this registration statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Legal matters in connection with the offering of the shares of common stock
pursuant to the Company's 2001 Nonqualified Executive Stock Options are being
passed upon for the Company by Chernesky, Heyman & Kress P.L.L., Dayton, Ohio.
Edward M. Kress, a partner of Chernesky, Heyman & Kress P.L.L., is Secretary and
a director of the Company. Mr. Kress owns 30,001 shares of REX common stock for
his own account, holds 28,624 shares as trustee for the benefit of others and
holds options to purchase 65,980 shares under the Company's stock option plans.
Item 6. Indemnification of Directors and Officers.
Article VII of the registrant's By-laws provides that it shall indemnify
its officers and directors to the extent permitted by the General Corporation
Law of Delaware.
Section 145 of the Delaware General Corporation Law, as amended, provides
that a corporation may indemnify any person who was or is a party or is
threatened to be made a party to any threatened, pending or completed action,
suit or proceeding, whether civil, criminal, administrative or investigative
(other than an action by or in the right of the corporation) by reason of the
fact that the person is or was a director, officer, employee or agent of the
corporation, or is or was serving at the request of the corporation as a
director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise, against expenses (including attorneys'
fees), judgments, fines and amounts paid in settlement actually and reasonably
incurred by the person in connection with such action, suit or proceeding if the
person acted in good faith and in a manner the person reasonably believed to be
in or not opposed to the best interests of the corporation, and, with respect to
any criminal action or proceeding, had no reasonable cause to believe the
person's conduct was unlawful. Section 145 further provides that a corporation
similarly may indemnify any such person serving in any such capacity who was or
is a party or is threatened to be made a party to any threatened, pending or
completed action or suit by or in the right of the corporation to procure a
judgment in its favor, against expenses (including attorneys' fees) actually and
reasonably incurred in connection with the defense or settlement of such action
or suit if the
3
person acted in good faith and in a manner the person reasonably believed to be
in or not opposed to the best interests of the corporation and except that no
indemnification shall be made in respect of any claim, issue or matter as to
which such person shall have been adjudged to be liable to the corporation
unless and only to the extent that the Delaware Court of Chancery or such other
court in which such action or suit was brought shall determine upon application
that, despite the adjudication of liability but in view of all the circumstances
of the case, such person is fairly and reasonably entitled to indemnity for such
expenses which the Delaware Court of Chancery or such other court shall deem
proper.
Under Section 145, a corporation may purchase and maintain insurance on
behalf of any person who is or was a director, officer, employee or agent of the
corporation, or is or was serving at the request of the corporation as a
director, officer, employee or agent of another corporation or other legal
entity, against any liability asserted against or incurred by such person in any
such capacity whether or not the corporation would have the power to provide
indemnity under Section 145. The registrant maintains directors and officers
liability insurance coverage.
Section 102(b)(7) of the Delaware General Corporation Law permits a
corporation to include in its certificate of incorporation a provision
eliminating or limiting the personal liability of a director to the corporation
or its stockholders for monetary damages for breach of fiduciary duty as a
director, provided that such provision shall not eliminate or limit the
liability of a director: (i) for any breach of the director's duty of loyalty to
the corporation or its stockholders, (ii) for acts or omissions not in good
faith or which involve intentional misconduct or a knowing violation of law,
(iii) under Section 174 of the Delaware General Corporation Law (relating to
unlawful payment of dividends and unlawful stock purchase and redemption) or
(iv) for any transaction from which the director derived an improper personal
benefit. The registrant's Certificate of Incorporation provides that, to the
fullest extent permitted by the Delaware General Corporation Law, directors of
the registrant shall not be liable to the registrant or its stockholders for
monetary damages for breach of fiduciary duty as a director.
Item 7. Exemption from Registration Claimed.
Not applicable.
4
Item 8. Exhibits.
See Exhibit Index on page 8.
Item 9. Undertakings.
The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:
(i) To include any prospectus required by section 10(a)(3) of the
Securities Act of 1933.
(ii) To reflect in the prospectus any facts or events arising after
the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of
securities offered (if the total dollar value of securities offered would not
exceed that which was registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in the form of prospectus
filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20% change in the maximum
aggregate offering price set forth in the "Calculation of Registration Fee"
table in the effective registration statement.
(iii) To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any
material change to such information in the registration statement.
Provided, however, that paragraphs (1)(i) and (1)(ii) do not apply if the
registration statement is on Form S-3, Form S-8 or Form F-3, and the information
required to be included in a post-effective amendment by those paragraphs is
contained in periodic reports filed with or furnished to the Commission by the
registrant pursuant to section 13 or section 15(d) of the Securities Exchange
Act of 1934 that are incorporated by reference in the registration statement.
(2) That, for the purpose of determining any liability under the Securities
Act of 1933, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
5
(3) To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of the
offering.
The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
registrant's annual report pursuant to section 13(a) or section 15(d) of the
Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan's annual report pursuant to section 15(d) of the
Securities Exchange Act of 1934) that is incorporated by reference in the
registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.
Insofar as indemnification for liabilities arising under the Securities Act
of 1933 may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Act and will be governed by the final adjudication of
such issue.
6
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Dayton, State of Ohio, on September 20, 2001.
REX Stores Corporation
By /s/ Stuart A. Rose
----------------------
(Stuart A. Rose,
Chairman of the Board)
Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities and on the dates indicated.
Signature Capacity Date
--------- -------- ----
/s/ Stuart A. Rose )
-------------------------------- Chairman of the Board and )
(Stuart A. Rose) Chief Executive Officer )
(principal executive )
officer) )
)
/s/ Douglas L. Bruggeman )
-------------------------------- Vice President--Finance )
(Douglas L. Bruggeman) and Treasurer (principal )
financial and accounting )
officer) )
)
Lawrence Tomchin* )
-------------------------------- President, Chief Operating ) September 20, 2000
(Lawrence Tomchin) Officer and Director )
)
)
/s/ Edward M. Kress )
-------------------------------- Secretary and Director )
(Edward M. Kress) )
)
)
Robert Davidoff* )
-------------------------------- Director )
(Robert Davidoff) )
)
)
Lee Fisher* )
-------------------------------- Director )
(Lee Fisher) )
)
)
Alexander C. Schwartz, Jr.* )
-------------------------------- Director )
(Alexander C. Schwartz, Jr.) )
)
)
*By/s/ Stuart A. Rose
--------------------------
(Stuart A. Rose,
Attorney-In-Fact)
7
EXHIBIT INDEX
Exhibit
23 Consent of Arthur Andersen LLP
24 Powers of attorney of each person whose name is signed to this
registration statement pursuant to a power of attorney
8
EX-23
3
ex-23.txt
EXHIBIT 23
Exhibit 23
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the incorporation by
reference in this registration statement of our report dated March 22, 2001
included in the REX Stores Corporation Form 10-K for the year ended January 31,
2001.
/s/ Arthur Andersen LLP
Cincinnati, Ohio
September 19, 2001
9
EX-24
4
ex24-1.txt
EXHIBIT 24.1
Exhibit 24.1
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that the undersigned, in his capacity as a
director or officer, or both, of REX Stores Corporation, a Delaware corporation
(the "Company"), hereby constitutes and appoints Stuart A. Rose and Edward M.
Kress, or any one of them, his true and lawful attorneys-in-fact and agents,
with full power of substitution and resubstitution, for him and in his name,
place and stead, in any and all capacities, to sign the Company's Registration
Statement on Form S-8 covering shares of the Company's Common Stock, $.01 par
value per share, to be issued pursuant to the Company's 2001 Nonqualified
Executive Stock Options, and to sign any and all amendments (including
post-effective amendments) thereto, and to file the same, with all exhibits
thereto, and other documents in connection therewith, with the Securities and
Exchange Commission, granting unto such attorneys-in-fact and agents, and any
one of them, full power and authority to do and perform each and every act and
thing requisite and necessary to be done, as fully to all intents and purposes
as he might or could do in person, hereby ratifying and confirming all that such
attorneys-in-fact and agents or any one of them, or their or his substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has executed this instrument as of this
23rd day of August, 2001
/s/ Lawrence Tomchin
Lawrence Tomchin
10
EX-24
5
ex24-2.txt
EXHIBIT 24.2
Exhibit 24.2
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that the undersigned, in his capacity as a
director or officer, or both, of REX Stores Corporation, a Delaware corporation
(the "Company"), hereby constitutes and appoints Stuart A. Rose and Edward M.
Kress, or any one of them, his true and lawful attorneys-in-fact and agents,
with full power of substitution and resubstitution, for him and in his name,
place and stead, in any and all capacities, to sign the Company's Registration
Statement on Form S-8 covering shares of the Company's Common Stock, $.01 par
value per share, to be issued pursuant to the Company's 2001 Nonqualified
Executive Stock Options, and to sign any and all amendments (including
post-effective amendments) thereto, and to file the same, with all exhibits
thereto, and other documents in connection therewith, with the Securities and
Exchange Commission, granting unto such attorneys-in-fact and agents, and any
one of them, full power and authority to do and perform each and every act and
thing requisite and necessary to be done, as fully to all intents and purposes
as he might or could do in person, hereby ratifying and confirming all that such
attorneys-in-fact and agents or any one of them, or their or his substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has executed this instrument as of this
23rd day of August, 2001.
/s/ Robert Davidoff
Robert Davidoff
11
EX-24
6
ex24-3.txt
EXHIBIT 24.3
Exhibit 24.3
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that the undersigned, in his capacity as a
director or officer, or both, of REX Stores Corporation, a Delaware corporation
(the "Company"), hereby constitutes and appoints Stuart A. Rose and Edward M.
Kress, or any one of them, his true and lawful attorneys-in-fact and agents,
with full power of substitution and resubstitution, for him and in his name,
place and stead, in any and all capacities, to sign the Company's Registration
Statement on Form S-8 covering shares of the Company's Common Stock, $.01 par
value per share, to be issued pursuant to the Company's 2001 Nonqualified
Executive Stock Options, and to sign any and all amendments (including
post-effective amendments) thereto, and to file the same, with all exhibits
thereto, and other documents in connection therewith, with the Securities and
Exchange Commission, granting unto such attorneys-in-fact and agents, and any
one of them, full power and authority to do and perform each and every act and
thing requisite and necessary to be done, as fully to all intents and purposes
as he might or could do in person, hereby ratifying and confirming all that such
attorneys-in-fact and agents or any one of them, or their or his substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has executed this instrument as of this
23rd day of August, 2001.
/s/ Lee Fisher
Lee Fisher
12
EX-24
7
ex24-4.txt
EXHIBIT 24.4
Exhibit 24.4
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that the undersigned, in his capacity as a
director or officer, or both, of REX Stores Corporation, a Delaware corporation
(the "Company"), hereby constitutes and appoints Stuart A. Rose and Edward M.
Kress, or any one of them, his true and lawful attorneys-in-fact and agents,
with full power of substitution and resubstitution, for him and in his name,
place and stead, in any and all capacities, to sign the Company's Registration
Statement on Form S-8 covering shares of the Company's Common Stock, $.01 par
value per share, to be issued pursuant to the Company's 2001 Nonqualified
Executive Stock Options, and to sign any and all amendments (including
post-effective amendments) thereto, and to file the same, with all exhibits
thereto, and other documents in connection therewith, with the Securities and
Exchange Commission, granting unto such attorneys-in-fact and agents, and any
one of them, full power and authority to do and perform each and every act and
thing requisite and necessary to be done, as fully to all intents and purposes
as he might or could do in person, hereby ratifying and confirming all that such
attorneys-in-fact and agents or any one of them, or their or his substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has executed this instrument as of this
23rd day of August, 2001.
/s/ Alexander C. Schwartz, Jr.
Alexander C. Schwartz, Jr.
13