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 31, 1997
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CTG RESOURCES, INC.
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(Exact name of registrant as specified in its charter)
Connecticut
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(State or other jurisdiction of incorporation)
1-12859 06-1466463
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(Commission (I.R.S. Employer
File Number) Identification No.)
100 Columbus Boulevard, Hartford, Connecticut 06103
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code
(860) 727-3010
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Item 5. Other Information
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(a) Press Release
Preliminary Results of Stock Repurchase Plan
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CONTACT: ANDREW JOHNSON (860) 727-3123
PRESS RELEASE
CTG RESOURCES, INC. ANNOUNCES PRELIMINARY
RESULTS OF STOCK REPURCHASE PLAN
HARTFORD, CONNECTICUT, OCTOBER 31, 1997 -- CTG Resources, Inc. (NYSE:CTG)
announced today that the "dutch auction" tender offer by its wholly-owned
subsidiary, The Energy Network, Inc. (TEN), to purchase shares of CTG
Common Stock was successfully completed at 12:00 midnight Eastern Standard
Time on October 30, 1997.
Based on the preliminary count by the depositary for the tender offer, at
the time of expiration, approximately 2.1 million shares of CTG Common
Stock had been tendered and not withdrawn at or below $26.00 per share. In
accordance with the terms of the tender offer and as permitted by the rules
and regulations of the Securities and Exchange Commission, TEN has elected
to purchase 2.0 million shares at a price of $26.00 per share. All shares
validly tendered at or below a price of $26.00 per share will be prorated
in accordance with the terms of the tender offer, except shares tendered by
odd lot shareholders and shareholders who would have become odd lot
shareholders as a result of proration.
The determination of the actual number of shares to be purchased, the
proration factor and the purchase price are subject to final confirmation
of the proper or guaranteed delivery of all shares tendered and not
withdrawn. The Company expects to announce the definitive results of the
tender offer and proration factor by November 7, 1997. Payment for the
shares accepted, and return of all other shares tendered but not accepted,
will occur as soon as practicable.
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CTG Resources, Inc. is the holding company of Connecticut Natural Gas
Corporation and The Energy Network, Inc. CTG is the largest transporter of
natural gas in Connecticut and is engaged in a number of energy-related
businesses under The Energy Network. CTG's home page on the Internet is
www.ctgcorp.com.
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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 thereunto duly authorized.
CTG RESOURCES, INC.
Date 11/3/97 S/ Andrew H. Johnson
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(Andrew H. Johnson)
Treasurer and Chief Accounting Officer
(On behalf of the registrant and as Chief
Accounting Officer)
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