-----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, AfxHeEv6iqJZbcH6tMDCINMvUCx/WnpHiTbkDhF1PY413gNlMZwPBgV08ssRUUoQ FtqgWDYkQ7fChDBBBDzYUQ== 0000869624-96-000001.txt : 19961209 0000869624-96-000001.hdr.sgml : 19961209 ACCESSION NUMBER: 0000869624-96-000001 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19961205 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19961206 SROS: AMEX FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUBLIC STORAGE PROPERTIES XIV INC CENTRAL INDEX KEY: 0000869624 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 954300884 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10792 FILM NUMBER: 96676510 BUSINESS ADDRESS: STREET 1: 701 WESTERN AVE STREET 2: SUITE 200 CITY: GLENDALE STATE: CA ZIP: 91201-2397 BUSINESS PHONE: 8182448080 MAIL ADDRESS: STREET 1: 701 WESTERN AVE STREET 2: SUITE 200 CITY: GLENDALE STATE: CA ZIP: 91201 8-K 1 FORM 8-K 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) December 5, 1996 ---------------- Public Storage Properties XIV, Inc. ----------------------------------- (Exact name of registrant as specified in its charter) California 1-10792 95-4300884 ---------- ------- ---------- (State or other juris- (Commission (IRS Employer diction of incorporation) File Number) Identification No.) 701 Western Avenue, Suite 200, Glendale, California 91203-1241 --------------------------------------------------- ---------- (Address of principal executive office) (Zip Code) Registrant's telephone number, including area code (818) 244-8080 -------------- N/A ----- (Former name or former address, if changed since last report) Item 5. Other Events ------------ Registrant and Public Storage, Inc., a New York Stock Exchange listed REIT, have agreed, subject to certain conditions, to merge. Attached is Registrant's press release describing the proposed transaction and which is incorporated herein by reference. Item 7. Financial Statements and Exhibits --------------------------------- (a) Financial Statements. None. (b) Exhibits. (1) Registrant's press release dated December 5, 1996. 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. PUBLIC STORAGE PROPERTIES XIV, INC. By: /S/ DAVID GOLDBERG ------------------- David Goldberg Vice President and General Counsel Date: December 5, 1996 EX-99.1 2 EXHIBIT FOR FORM 8-K SUBMISSION Joint News Release Public Storage Properties XIV, Inc. Public Storage, Inc. 701 Western Avenue P.O. Box 25050 Glendale, CA 91221-5050 ----------------------------------------------------------------------- For Release: Immediately Date: December 5, 1996 Contact: Mr. Harvey Lenkin (818) 244-8080 GLENDALE, California--Public Storage Properties XIV, Inc. (AMEX:PSP) and Public Storage, Inc. (NYSE:PSA) announced today that the corporations had agreed, subject to certain conditions, to merge. In the merger, PSP would be merged with and into PSA, and each outstanding share of PSP's Common Stock Series A would be converted, at the election of the shareholders of PSP, into either shares of PSA Common Stock or, with respect to up to 20% of the PSP Common Stock, $21.73 in cash. This dollar amount has been based on PSP's estimated net asset value (the appraised value of PSP's real estate assets as of October 31, 1996 and the estimated book value of PSP's other net assets as of March 1997). The number of shares of PSA Common Stock will be based on dividing this same dollar amount by the average of the per-share closing prices on the New York Stock Exchange for a specified period prior to PSP's shareholders' meeting. In the event of the merger, additional distributions would be made to shareholders of PSP to cause PSP's estimated net asset value as of the effective date of the merger to be substantially equivalent to its estimated net asset value as of March 1997. If additional distributions are required in order to satisfy PSP's real estate investment trust distribution requirements, the number of shares of PSA's Common Stock issued in the merger and the amount receivable upon a cash election would be reduced on a pro rata basis in an aggregate amount equal to such distributions. The merger is conditioned on, among other requirements, approval by PSA's board of directors, receipt of a satisfactory fairness opinion by PSP and approval by the shareholders of PSP. It is expected that any merger would close during the first half of 1997. ### -----END PRIVACY-ENHANCED MESSAGE-----