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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): September 3, 1998
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KNOLL, INC.
A Delaware Corporation Commission File No. I.R.S. Employer No.
001-12907 13-3873847
1235 Water Street
East Greenville, PA 18041
Telephone Number (215) 679-7991
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ITEM 5. OTHER EVENTS
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On September 3, 1998, Knoll, Inc. issued a press release announcing a share
repurchase program approved by its Board of Directors. The press release was
as follows:
KNOLL, INC. ANNOUNCES SHARE REPURCHASE PROGRAM
EAST GREENVILLE, PA, September 3, 1998 -- Knoll, Inc. (NYSE: KNL) today
announced that its Board of Directors has approved a share repurchase program
which will allow for the repurchase of up to 3.0 million shares of the
company's common stock. Common shares will be purchased in the open market or
through negotiated transactions at the discretion of company management,
depending on ongoing assessments of capital needs and prevailing market
conditions. The program is effective immediately.
John H. Lynch, Knoll president and chief executive officer, said, "We believe
the repurchase program is an effective use of the company's excess cash flow
which will serve to enhance shareholder value. We are excited about our
prospects for continued growth and believe the repurchase of our shares
reflects our confidence in the company's growth potential."
Founded in 1938, Knoll is a global office furnishings manufacturer committed
to design excellence. The company's corporate headquarters is located in East
Greenville, PA.
This press release contains statements that are forward looking. These
forward-looking statements are based largely on the company's expectations and
are subject to a number of risks and uncertainties, certain of which are
beyond the company's control. Actual results could differ materially from the
forward-looking statements as a result of many factors, including, but not
limited to, changes in the competitive marketplace and changes in the trends
in the market for office furniture. Refer to the company's Annual Reports on
Form 10-K, its Quarterly Reports on Form 10-Q and its other filings with the
Securities and Exchange Commission for further discussion of certain risks and
uncertainties affecting the company. In light of the risks and uncertainties,
there can be no assurance that the forward-looking information contained in
this press release will, in fact, transpire.
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SIGNATURE
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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 thereunto duly authorized.
KNOLL, INC.
Date: October 1, 1998 By: /s/ Douglas J. Purdom
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DOUGLAS J. PURDOM
Senior Vice President and
Chief Financial Officer
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