-----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, Bw7u1p7/tTiZKntEuZVdGKJuQeenI1UKcIjGGctuEXg2eY+2IEshvg9CtKXMX5pS XSl35swIWszpSpc1M+Npiw== 0001016193-98-000036.txt : 19980417 0001016193-98-000036.hdr.sgml : 19980417 ACCESSION NUMBER: 0001016193-98-000036 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980114 ITEM INFORMATION: FILED AS OF DATE: 19980416 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: TUFCO INTERNATIONAL INC CENTRAL INDEX KEY: 0000808714 STANDARD INDUSTRIAL CLASSIFICATION: CARPETS AND RUGS [2273] IRS NUMBER: 954071623 STATE OF INCORPORATION: NV FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 033-10984-LA FILM NUMBER: 98595286 BUSINESS ADDRESS: STREET 1: PIONEER LANE STREET 2: P O BOX 457 CITY: GENTRY STATE: AR ZIP: 72734 BUSINESS PHONE: 5017362201 MAIL ADDRESS: STREET 1: 12575 PIONEER LANE STREET 2: 12575 PIONEER LANE CITY: GENTRY STATE: AK ZIP: 72734 FORMER COMPANY: FORMER CONFORMED NAME: COASTECH INC DATE OF NAME CHANGE: 19900912 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. January 14, 1998 Date of Report (Date of earliest event reported) TUFCO INTERNATION, INC. (Exact name of Registrant as specified in its charter) Nevada 33-10984-LA 95-4071623 State of Commission File No. IRS Employer Incorporation Identification No. Pioneer Loan Gentry, AR 72734 (Address of principal executive offices) (501) 736-2201 (Registrant's telephone number) Item 1. Change of Control On January 14, 1998, the ESOP purchased 297,745.6 shares from Donald Cox and Lucille Cox for a total price of $70,000. On January 31, 1997, Tufco International, Inc. (the "Company") formed an Employee Stock Ownership Plan ("ESOP"). On January 14, 1998, the ESOP entered into Option Agreements with several shareholders of the Company("Selling Shareholders") wherein the Selling Shareholders granted the ESOP options to purchase their shares of the Company's common stock. At January 14, 1998, there were 6,965,800 shares of the Company's common stock issued and outstanding. The transactions between the ESOP and the Selling Shareholders are described below: Donald Cox and Lucille Cox On January 14, 1998, Donald Cox and Lucille Cox, the joint owners of 3,999,760.4 shares of the Company's common stock, granted the ESOP an option (the "Option") to purchase all of such share (the "Option Shares"). Th ESOP paid $30,000 for the Option. The Option is exercisable in 15 annual Options each of which provides that 266,650.7 Option Shares may be purchase for the amount of $62,689.58. The total principal purchase price for all 3,999,760.4 Option Shares is $970,343.70, which includes the $30,000 paid for the Option. Interest accrues on the principal amount of the unexercised Options at the rate of 10% per annum. The first annual exercise date is not later than January 13, 1999 The certificates for all of the Option Shares have been deposited in escrow and are held by a trustee of the ESOP. The ESOP has the right to vote the Option Shares during the Option Period. Russell Cox On January 14, 1998, Russell Cox, the owners of 677,604 shares of the Company's common stock, granted the ESOP an option (the "Option") to purchase all of such share (the "Option Shares"). Th ESOP paid $7,500 for the Option. The Option is exercisable in 15 annual Options each of which provides that 45,173.6 Option Shares may be purchase for the amount of $10,120.32. The total principal purchase price for all Option Shares is $159,304.80, which includes the $7,500 paid for the Option. Interest accrues on the principal amount of the unexercised Options at the rate of 10% per annum. The first annual exercise date is not later than January 13, 1999 The certificates for all of the Option Shares have been deposited in escrow and are held by a trustee of the ESOP. The ESOP has the right to vote the Option Shares during the Option Period. Employment Agreements The Company has also entered into employment agreements with Russell Cox and Donald Cox. 2 SIGNATURE Pursuant to the requirements of the Securities Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Tufco International, Inc. Date: April 14, 1998 By: /s/ Brent Mills Brent Mills Chief Financial Officer 3 -----END PRIVACY-ENHANCED MESSAGE-----