0000950124-01-503373.txt : 20011009 0000950124-01-503373.hdr.sgml : 20011009 ACCESSION NUMBER: 0000950124-01-503373 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20011001 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20011001 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CAPITAL DIRECTIONS INC CENTRAL INDEX KEY: 0000830157 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 382781737 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-20417 FILM NUMBER: 1749280 BUSINESS ADDRESS: STREET 1: 322 S JEFFERSON ST CITY: MASON STATE: MI ZIP: 48854 BUSINESS PHONE: 5176760500 MAIL ADDRESS: STREET 2: P O BOX 130 CITY: MASON STATE: MI ZIP: 48854-0130 8-K 1 k65227e8-k.txt CURRENT REPORT DATED 10/01/01 1 UNITED STATES 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) October 1, 2001 -------------------------------- Capital Directions, Inc. -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Michigan -------------------------------------------------------------------------------- (State or other jurisdiction of incorporation) 33-20417 38-2781737 ---------------------------------- ------------------------------------ (Commission File Number) (IRS Employer Identification No.) 322 South Jefferson Street Mason, Michigan 48854-0130 -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code (517) 676-0506 ------------------------------ Exhibit Index is located on page 4. 1 2 ITEM 5. OTHER EVENTS On September 27, 2001, the Registrant issued a press release relating to the implementation of a stock repurchase program whereby the Registrant may repurchase from time to time up to 25,000 of its outstanding shares of common stock in the open market or in private transactions over the next twelve months. For information regarding the stock repurchase program, reference is made to the press release dated September 27, 2001, which is attached hereto as Exhibit 99 and incorporated herein by reference. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (c) Exhibits: Exhibit 99 September 27, 2001 Press Release 2 3 SIGNATURES 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 hereunto duly authorized. CAPITAL DIRECTIONS, INC. (Registrant) By: /s/ Timothy P. Gaylord -------------------------------------- Timothy P. Gaylord, President and Chief Executive Officer Dated: September 27, 2001 3 4 EXHIBIT INDEX NUMBER DESCRIPTION 99 September 27, 2001 Press Release 4 EX-99 3 k65227ex99.txt PRESS RELEASE 1 EXHIBIT 99 Contact: Timothy Gaylord President & CEO Mason State Bank and Capital Directions, Inc. (517) 676-0500 NEWS RELEASE . . . FOR IMMEDIATE RELEASE - SEPTEMBER 27, 2001 CAPITAL DIRECTIONS, INC. ANNOUNCES STOCK REPURCHASE PROGRAM MASON, MICHIGAN. The Board of Directors of Capital Directions, Inc., the holding company for Mason State Bank, at their regular monthly board meeting in September approved a Stock Redemption/Repurchase Program. Timothy Gaylord, President & CEO, stated, "We believe that our current stock price does not reflect our long-term value. This program allows the Corporation to make an attractive investment and continue to manage capital." The Board of Directors authorized the repurchase of up to 25,000 shares of its outstanding common shares. Such purchases will be made subject to market conditions in the open market within the following 12 months. Mason State Bank has served the Mason area since 1886. Capital Directions, Inc. common shares are traded in the over-the-counter market. Nick Bicking of Stifel, Nicolaus Company, Inc., George Pfleger of Raymond James & Assoc., Inc., Todd Stewart of Morgan Stanley Dean Witter, Helen Rubens of Monroe Securities, Inc., and Nick Bach of Howe Barnes Investments, Inc. make a market in the stock. # # #