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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): September 29, 1999
AGL RESOURCES INC.
(Exact Name of Registrant as Specified in Charter)
Georgia 1-14174 58-2210952
(State or Other Jurisdiction (Commission File No.) (IRS Employer
of Incorporation) Identification No.)
817 West Peachtree Street, NW, 10th Floor, Atlanta, Georgia 30308
(Address of Principal Executive Offices) (Zip Code)
(404) 584-9470
(Registrant's telephone number, including area code)
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ITEM 7. EXHIBITS
99 Form of Press Release, dated September 29, 1999. See the Exhibit
Index on page 4 hereof.
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SIGNATURE
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.
AGL RESOURCES INC.
(Registrant)
/s/ J. Michael Riley
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J. Michael Riley
Senior Vice President and
Chief Financial Officer
Date: September 30, 1999
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EXHIBIT INDEX
Exhibit No. Description
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99 Form of Press Release, dated
September 29, 1999
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[LOGO OF AGL RESOURCES APPEARS HERE]
Exhibit 99
FOR IMMEDIATE RELEASE
Contacts
Financial Community Media
Melanie M. Platt Ross Willis
Vice President, Investor Relations Corporate Communications
(404) 584-3420 (404) 584-3769
Joseph P. Heffron
Investor Relations Specialist
(404) 584-3427
AGL RESOURCES COMPLETES SALE OF JOINT VENTURE INTEREST
ATLANTA, GEORGIA, September 29, 1999 ----- AGL Resources Inc. (NYSE: ATG)
announced the completion today of the previously announced sale of its interest
in Sonat Power Marketing L.P., a wholesale power marketer, for $25 million.
In the company's fourth fiscal quarter, which ends September 30, 1999, the
company will recognize a one-time pre-tax gain of approximately $20 million
associated with the completion of the sale of its interest in the power
marketing joint venture. Also in the fourth quarter, the company will recognize
a one-time pre-tax gain of approximately $15 million associated with the sale of
its interest in Sonat Marketing Company L.P., a natural gas marketer, which was
completed in August 1999. The company was not allocated any gain or loss from
the joint ventures subsequent to June 30, 1999. Proceeds from the sale will be
used for general corporate purposes.
Walter M. Higgins, AGL Resources' Chairman and Chief Executive Officer,
commented "With the completion of the sale of our Sonat joint venture interests,
our activities for fiscal year 2000 are focused entirely on utility excellence
in operations and earnings, growth in our retail energy marketing and customer
care businesses, and opportunities presented by pursuing strategic
combinations."
AGL Resources Inc. is a regional energy holding company with operations in the
Southeast. Atlanta Gas Light Company, the largest natural gas distributor in the
Southeast and the company's primary subsidiary, serves nearly 1.5 million
customers in Georgia and southern Tennessee. Although natural gas distribution
is AGL Resources' core business, it also is engaged in other energy-related
businesses, including retail energy marketing, customer care services for energy
marketers and wholesale and retail propane sales.
Statements made in this press release other than those containing historical
information should be considered as forward-looking statements and are made
pursuant to the safe-harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such statements involve risks and uncertainties which may
cause results to differ materially from those set forth in these statements.
AGL Resources wishes to caution readers that results and events subject to
forward-looking statements could differ materially because, among other things,
of the following factors: continued uncertainty regarding the impact of changes
in state and federal legislation and regulation on the company and the natural
gas industry, including the company's need to manage resulting challenges
regarding expenses; the effects of competition, particularly in markets where
prices and service providers historically have been regulated; changes in the
price and demand for natural gas; and other risks and factors identified in the
company's filings with the Securities and Exchange Commission.
