File No.___________
As filed with the Securities and Exchange Commission on July 1,
1998
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
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FirstEnergy Corp.
(Exact name of registrant as specified in charter)
OHIO 34-1843785
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
76 South Main Street, Akron, Ohio 44308
(330) 384-5100
(Address, including zip code, of Principal Executive Offices)
FirstEnergy Corp. Executive and Director Incentive Compensation
Plan
(Full title of the plan)
Nancy C. Ashcom
Corporate Secretary
FirstEnergy Corp.
76 South Main Street,
Akron, Ohio 44308
Tel. No. (330) 384-5504
(Name, address, and telephone number, including area code, of
agent for service)
Copies to:
John H. Byington, Esq.
Winthrop, Stimson, Putnam & Roberts
One Battery Park Plaza
New York, New York 10004
Tel. No. (212) 858-1102
Approximate date of commencement of proposed sale to the
public: From time to time after the effective date of this
Registration Statement.
<TABLE>
<CAPTION
CALCULATION OF REGISTRATION FEE
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Title of securities Amount to be Proposed maximum Proposed maximum Amount of
to be registered registered offering price aggregate offering registration fee
per unit price
- ------------------ ------------- ------------------- --------------------- -----------------
<S> <C> <C> <C> <C>
Common Stock* 7,500,000 $30.406.25*** $228,046,875*** $67,274
shares**
<FN>
* Includes rights to purchase shares of Common Stock under the Company's Rights Agreement.
** This Registration Statement shall be deemed to cover additional securities to be issued in
connection with or as a result of stock splits, stock dividends or similar transactions.
*** Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457.
Based on the average of the reported high and low sales prices of shares of Common Stock
reported on the New York Stock Exchange on June 26, 1998.
</TABLE>
PART II
INFORMATION REQUIRED IN REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents which have heretofore been
filed by the Company with the Securities and Exchange Commission
(the "Commission") pursuant to the Securities Exchange Act of
1934, as amended (the "1934 Act") are incorporated by reference
herein and shall be deemed to be a part hereof:
1. Annual Report on Form 10-K for the year ended
December 31, 1997.
2. Quarterly Report on Form 10-Q for the quarter ended
March 31, 1998.
3. Amendment to Current Report on Form 8-K of the
Company dated November 10, 1997 on Form 8-K/A dated January 22,
1998.
All documents, filed by the Company with the Commission
pursuant to Sections 13(a), 13(c), 14 or 15(d) of the 1934 Act
prior to the filing of a post-effective amendment to this
Registration Statement which indicates that all securities
offered have been sold or which deregisters all securities then
remaining unsold, shall be deemed to be incorporated by reference
in this Registration Statement and made a part hereof from their
respective dates of filing (such documents, and the documents
enumerated above, being hereinafter referred to as "Incorporated
Documents"); provided, however, that the documents enumerated
above or subsequently filed by the Company pursuant to Sections
13(a), 13(c), 14 or 15(d) of the 1934 Act in each year during
which the offering made by this Registration Statement is in
effect prior to the filing with the Commission of the Company's
Annual Report on Form 10-K covering such year shall not be
Incorporated Documents or be incorporated by reference in this
Registration Statement or be a part hereof from and after the
filing of such Annual Report on Form 10-K.
Any statement contained in an Incorporated Document
shall be deemed to be modified or superseded for purposes of this
Registration Statement to the extent that a statement contained
herein or in any other subsequently filed Incorporated Document
modifies or supersedes such statement. Any such statement so
modified or superseded shall not be deemed, except as so modified
or superseded, to constitute a part of this Registration
Statement.
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Item 4. Description of Securities.
DESCRIPTION OF FirstEnergy CAPITAL STOCK
The authorized capital stock of the Company consists of
300,000,000 shares of Common Stock and 5,000,000 shares of
preferred stock, par value $100 per share.
Certain provisions of the Company's Amended Articles of
Incorporation (the "Articles") and Amended Code of Regulations
(the "Regulations") are summarized or referred to below. The
following description of the Company's capital stock does not
purport to be complete and is qualified in its entirety by
reference to the Articles and Regulations, as well as applicable
statutory or other law.
FirstEnergy Common Stock
Voting Rights. The holders of Common Stock will be entitled
to one vote on each matter submitted to a vote at a meeting of
shareholders for each share of Common Stock held of record by
such holder as of the record date for such meeting. Under the
Articles, the voting rights, if any, of the Company's preferred
stock may differ from the voting rights of the Company's Common
Stock. The holders of Common Stock are not entitled to cumulate
their votes for the election of directors. The Company's
Articles provide that the Board of Directors be divided into
three classes with the term of office of the respective classes
to expire in successive years.
In order to amend or repeal, or adopt any provision
inconsistent with, the provisions of the Articles dealing with
(a) the right of the Board of Directors to establish the terms of
unissued shares or to authorize the acquisition by the Company of
its outstanding shares; (b) the absence of cumulative voting and
preemptive rights; or (c) the requirement that 80% of the voting
power of the Company's outstanding shares must approve the
foregoing, 80% of the voting power of the Company's outstanding
shares must approve. In addition, the approval of 80% of the
voting power of the Company's outstanding shares must be obtained
to amend or repeal, or adopt a provision inconsistent with, the
provisions of the Regulations dealing with (a) the time and place
of shareholders' meetings, the manner in which special meetings
of shareholders are called or the way business is conducted at
such meetings; (b) the number, election and terms of directors,
the manner of filling vacancies on the Board of Directors, the
removal of directors or manner in which directors are nominated;
or (c) the indemnification of officers or directors. Amendment
of the provision of the Regulations that requires the approval of
80% of the voting power of the Company's outstanding shares in
the instances enumerated, or the adoption of a provision
inconsistent therewith, above requires the same level of
approval.
Adoption of a plan of merger, consolidation or
reorganization, as well as adoption of certain amendments to the
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Articles (other than those requiring 80% approval as specified
above), authorization of a sale or other disposition of all or
substantially all of the assets of the Company not made in the
usual and regular course of its business or adoption of a
resolution of dissolution of the Company, and any other matter
which would otherwise require a two-thirds approving vote,
require authorization by the holders of two-thirds of the voting
power of the outstanding shares of Common Stock, unless the Board
of Directors provides otherwise by resolution, in which case such
authorization shall be by a majority of the voting power of the
Company and the approval of a majority of the voting power of any
shares entitled to vote as a class, to the extent not
inconsistent with the Articles or the Regulations.
Dividends. Subject to prior rights and preferences of any
issued and outstanding shares of the Company's preferred stock,
the holders of Common Stock will be entitled to receive dividends
when, as and if declared by the Board of Directors out of funds
of the Company legally available therefor. The Company's ability
to pay dividends depends primarily upon the ability of its
subsidiaries to pay dividends or otherwise transfer funds to it.
The articles of incorporation, certain mortgages and other
agreements, as supplemented, of Ohio Edison Company, Pennsylvania
Power Company, The Cleveland Electric Illuminating Company and
The Toledo Edison Company, the Company's direct and indirect
electric utility subsidiaries, contain provisions which, under
certain conditions, restrict the ability of these subsidiaries to
transfer funds to the Company in the form of cash dividends.
There can be no assurance that funds will be legally available to
pay dividends at any given time or that, if funds are available,
the Board of Directors will declare a dividend.
Liquidation Rights. In the event of a liquidation,
dissolution or winding up of the affairs of the Company, the
holders of Common Stock will be entitled to share ratably, after
the prior rights of the holders of any issued and outstanding
shares of the Company's preferred stock have been satisfied, in
any assets remaining after payment in full of all liabilities of
the Company.
No Preemptive, Redemption or Conversion Rights. The holders
of Common Stock will have no preemptive rights to acquire or
subscribe to any shares, or securities convertible into shares,
of Common Stock. The holders of Common Stock will have no
redemption or conversion rights.
Listing. The outstanding Common Stock of the Company is
traded on the New York Stock Exchange.
Transfer Agent and Registrar. The Transfer Agent and
Registrar for the Common Stock is FirstEnergy Securities Transfer
Company, a wholly owned subsidiary of the Company.
FirstEnergy Preferred Stock
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Pursuant to Article IV of the Articles, the Board of
Directors has the authority to issue preferred stock from time to
time in one or more classes or series. Pursuant to Article V of
the Articles, the Board of Directors is authorized to adopt
amendments to the Articles to fix or change the express terms of
any unissued or treasury shares of any class, including preferred
stock.
Rights Plan
On November 18, 1997 the Company authorized assignment of
one share purchase right (a "Right") for each outstanding share
of Common Stock (the "Shares") of the Company. Each Right
entitles the registered holder to purchase from the Company one
Share at a price of $70 per Share (the "Purchase Price"), when
the Rights become exercisable. The description and terms of the
Rights are set forth in a Rights Agreement (the "Rights
Agreement") between the Company and The Bank of New York, as
rights agent (the "Rights Agent"). This summary description of
the Rights does not purport to be complete and is qualified in
its entirety by reference to the Rights Agreement.
Rights Initially not Separable from Common Stock
The Rights will be evidenced by the Shares certificates
until the earlier of (i) 10 days following a public announcement
that a person or group of affiliated or associated persons (an
"Acquiring Person") has acquired, or obtained the right to
acquire, beneficial ownership of 15% or more of the outstanding
Shares (the date of such public announcement being called the
"Share Acquisition Date") or (ii) 10 days following the
commencement or announcement of an intention to make a tender
offer or exchange offer by a person other than the Company if,
upon consummation of the offer, such person, together with
persons affiliated or associated with it, would be the beneficial
owner of 25% or more of the outstanding Shares (the earlier of
such days being called the "Distribution Date"). The Rights
Agreement provides that, until the Distribution Date, the Rights
will be transferred with and only with the Shares. Until the
Distribution Date (or earlier redemption, termination or
expiration of the Rights), new Share certificates issued upon
transfer or new issuance of Shares will contain a notation
incorporating the Rights Agreement by reference. Until the
Distribution Date (or earlier redemption, termination or
expiration of the Rights), the surrender for transfer of any
certificates for Shares will also constitute the transfer of the
Rights associated with the Shares represented by such
certificate.
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Separation of Rights from Common Stock
As soon as practicable following the Distribution Date,
separate certificates evidencing the Rights ("Right
Certificates") will be mailed to holders of record of the Shares
as of the close of business on the Distribution Date and such
separate Right Certificates alone will thereafter evidence the
Rights.
Exercise of Rights
The Rights are not exercisable until the Distribution Date.
The Rights will expire November 28, 2007 unless such date is
extended or unless the Rights are earlier redeemed by the Company
or exchanged for Shares, in each case as described below.
The Purchase Price payable, and the number of Shares or
other securities or property issuable, upon exercise of the
Rights are subject to adjustment from time to time to prevent
dilution (i) in the event of a stock dividend on, or a
subdivision, combination or reclassification of, the Shares, (ii)
upon the grant to holders of the Shares of certain rights or
warrants to subscribe for or purchase Shares at a price, or
securities convertible into Shares with a conversion price, less
than the then current market price of the Shares or (iii) upon
the distribution to holders of the Shares of evidences of
indebtedness or assets (excluding regular periodic cash dividends
paid out of earnings or retained earnings or dividends payable in
Shares) or of subscription rights or warrants (other than those
referred to above).
In the event that (i) the Company merges with or is involved
in another business combination transaction with an Acquiring
Person, (ii) 50% or more of its consolidated assets or earning
power are sold to an Acquiring Person, (iii) an Acquiring Person
acquires 25% or more of the Shares, or (iv) an Acquiring Person
engages in one or more self-dealing transactions with the
Company, then, proper provision will be made so that each holder
of a Right will thereafter have the right to receive, upon the
exercise thereof at the then current Purchase Price of the Right,
that number of shares of Common Stock of the Company or of the
acquiring company, as the case may be, which at the time of such
transaction will have a value double the amount of the Purchase
Price.
Any Rights that are or were beneficially owned at any time
on or after the Distribution Date by an Acquiring Person shall
become null and void upon the occurrence of any event described
in the preceding paragraph and no holder of such Rights shall
have any right with respect to such Rights from and after the
occurrence of any such event.
With certain exceptions, no adjustment in the Purchase Price
will be required until cumulative adjustments require an
adjustment of at least 1% in such Purchase Price. No fractional
Shares will be issued and in lieu thereof, an adjustment in cash
will be made based on the market price of the Shares on the last
trading day prior to the date of exercise.
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Redemption of Rights
At any time prior to the 10th day following the Share
Acquisition Date (unless extended by the Company), the Board of
Directors of the Company may redeem the Rights in whole, but not
in part, at a price of $.001 per Right (the "Redemption Price").
In that connection, the amount payable to any holder of the
Rights will be rounded up to the nearest $.01. Payments of less
than $1.00 will be sent to holders of the Rights only if the
particular holder entitled to the payment specifically requests
that the payment be sent. Immediately upon the action of the
Company ordering redemption of the Rights, the right to exercise
the Rights will terminate and the only right of the holders of
Rights will be to receive the Redemption Price.
Exchange of Rights
After the Distribution Date and prior to the time an
Acquiring Person has acquired 50% or more of the then outstanding
Shares, the Company may require that some or all of the Rights be
exchanged on a one for one basis (subject to adjustment for stock
splits, stock dividends and other similar transactions) for
Shares. To the extent that Rights are required to be exchanged
for Shares, the right to exercise those Rights will terminate and
the only right of the holder thereof will be to exchange those
Rights for Shares.
Amendments
The terms of the Rights may be amended by the Company
without the consent of the holders of the Rights, including an
amendment to extend the period during which the rights may be
redeemed, except that after the Distribution Date no such
amendment may otherwise adversely affect the interests of the
holders of the Rights. In the event an Acquiring Person, after
triggering the redemption option of the Company, reduces its
shareholdings to less than 15% then the redemption rights are
reinstated.
No Rights as a Shareholder
Until a Right is exercised, the holder thereof, as such,
will have no rights as a shareholder of the Company, including,
without limitation, the right to vote or to receive dividends.
Effect of Rights
The Rights will not prevent a takeover of the Company. The
Rights, however, may cause substantial dilution to a person or
group that acquires 15% or more of the Common Stock unless the
Rights are first redeemed by the Board of Directors of the
Company. Nevertheless, the Rights should not interfere with a
transaction which is in the best interests of the Company because
the Rights can be redeemed as herein described before the
consummation of such transaction.
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Item 5. Interests of Named Experts and Counsel.
The legality of the Common Stock offered pursuant to this
registration statement has been passed upon for the Company by
David L. Feltner, Associate General Counsel for the Company. Mr.
Feltner is a holder of shares (and options to purchase shares) of
Common Stock of the Company. As of June 26, 1998, Mr. Feltner
owned 2,977 shares of Common Stock of the Company.
Item 6. Indemnification of Directors and Officers.
Section 1701.13(E) of Title 17 of Page's Ohio Revised Code
Annotated gives a corporation incorporated under the laws of Ohio
power to indemnify any person who is or has been a director,
officer or employee of that corporation, or of another
corporation at the request of that corporation, against expenses,
judgments, fines and amounts paid in settlement actually and
reasonably incurred by him in connection with any threatened,
pending or completed action, suit or proceeding, criminal or
civil, to which he is or may be made a party because of being or
having been such director, officer or employee, provided that in
connection therewith, such person is determined to have acted in
good faith in what he reasonably believed to be in or not opposed
to the best interest of the corporation of which he is a
director, officer or employee, and without reasonable cause, in
the case of a criminal matter, to believe that his conduct was
unlawful. The determination as to the conditions precedent to
the permitted indemnification of such person is made by the
directors of the indemnifying corporation acting at a meeting at
which, for the purpose, any director who is a party to or
threatened with any such action, suit or proceeding may not be
counted in determining the existence of a quorum and may not
vote. If, because of the foregoing limitations, the directors
are unable to act in this regard, such determination may be made
by the majority vote of the corporation's voting shareholders (or
without a meeting upon two-thirds written consent of such
shareholders), by judicial proceeding or by written opinion of
legal counsel not retained by the corporation or any person to be
indemnified during the five years preceding the date of
determination.
Regulation 31 of the Company's Code of Regulations provides
as follows:
"The Company shall indemnify, to the full extent then
permitted by law, any person who was or is a party or is
threatened to be made a party to any threatened, pending or
completed action, suit or proceeding, whether civil,
criminal, administrative or investigative, by reason of the
fact that he or she is or was a member of the Board of
Directors or an officer, employee or agent of the Company,
or is or was serving at the request of the Company as a
director, trustee, officer, employee or agent of another
corporation, partnership, joint venture, trust or other
enterprise. The Company shall pay, to the full extent then
required by law, expenses, including attorney's fees,
incurred by a member of the Board of Directors in defending
any such action, suit or proceeding as they are incurred, in
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advance of the final disposition thereof, and may pay, in
the same manner and to the full extent then permitted by
law, such expenses incurred by any other person. The
indemnification and payment of expenses provided hereby
shall not be exclusive of, and shall be in addition to, any
other rights granted to those seeking indemnification under
any law, the Articles of Incorporation, any agreement, vote
of shareholders or disinterested members of the Board of
Directors, or otherwise, both as to action in official
capacities and as to action in another capacity while he or
she is a member of the Board of Directors, or an officer,
employee or agent of the Company, and shall continue as to a
person who has ceased to be a member of the Board of
Directors, trustee, officer, employee or agent and shall
inure to the benefit of the heirs, executors and
administrators of such a person."
Section 1701.13(E) of Title 17 of Page's Ohio Revised Code
Annotated provides that the indemnification thereby permitted
shall not be exclusive of any other rights that directors,
officers or employees may have, including rights under insurance
purchased by the corporation.
Regulation 32 of the Company's Code of Regulations provides
as follows:
"The Corporation may, to the full extent then permitted
by law and authorized by the Board of Directors, purchase
and maintain insurance or furnish similar protection,
including but not limited to trust funds, letters of credit
or self-insurance, on behalf of or for any persons described
in Regulation 31 against any liability asserted against and
incurred by any such person in any such capacity, or arising
out of his status as such, whether or not the Corporation
would have the power to indemnify such person against such
liability. Insurance may be purchased from or maintained
with a person in which the Corporation has a financial
interest."
Item 7. Exemption from Registration Claimed.
Not applicable.
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Item 8. Exhibits.
Exhibit
Number Description
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4(a) Amended Articles of Incorporation of FirstEnergy Corp.
(physically filed and designated in Registration No. 333-
21011 as Exhibit (3)-1).
4(b) Amended Code of Regulations of the FirstEnergy Corp.
(physically filed and designated in Registration No. 333-
21011 as Exhibit (3)-2).
4(c) Form of Common Stock Certificate (Physically filed and
designated in Registration No. 333-40063 as Exhibit
4(c)).
4(d) Rights Agreement dated as of November 18, 1997, between
FirstEnergy Corp. and The Bank of New York and form of
Right Certificate (physically filed and designated in
Current Report of Form 8-K dated November 18, 1997 as
Exhibit 4.1).
5 Opinion of David L. Feltner, Esq., Associate General
Counsel for the Company as to the securities being
registered.
15 Letter re Unaudited Interim Financial Information.
23(a) Consent of David L. Feltner, Esq. (contained in Exhibit
5)
23(b) Consent of Independent Accountants, Arthur Andersen LLP
Item 9. Undertakings.
The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales
are being made, a post-effective amendment to this registration
statement:
(i) to include any prospectus required by Section
10(a)(3) of the Securities Act of 1933 (the "1933 Act");
(ii) to reflect in the prospectus any facts or events
arising after the effective date of the registration
statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, repre-
sent a fundamental change in the information set forth in
the registration statement. Notwithstanding the
foregoing, any increase or decrease in volume of
securities offered (if the total dollar value of
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securities offered would not exceed that which was
registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in
the form of prospectus filed with the Commission pursuant
to Rule 424(b) if, in the aggregate, the changes in volume
and price represent no more than a 20% change in the
maximum aggregate offering price set forth in the
"Calculation of Registration Fee" table in the effective
registration statement;
(iii) to include any material information with respect
to the plan of distribution not previously disclosed in
the registration statement or any material change to such
information in the registration statement;
provided, however, that clauses (i) and (ii) above do not apply
if the information required to be included in a post-effective
amendment by those clauses is contained in periodic reports filed
with or furnished to the Securities and Exchange Commission by
the registrant pursuant to Section 13 or Section 15(d) of the
Securities Exchange Act of 1934 that are incorporated by
reference in the registration statement.
(2) That, for the purpose of determining any liability
under the 1933 Act, each such post-effective amendment shall be
deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering
thereof.
(3) To remove from registration by means of a post-
effective amendment any of the securities being registered which
remain unsold at the termination of the offering.
(4) That, for purposes of determining any liability under
the 1933 Act, each filing of the registrant's annual report
pursuant to Section 13(a) or Section 15(d) of the Securities
Exchange Act of 1934 that is incorporated by reference in the
registration statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
Insofar as indemnification for liabilities arising under the
1933 Act may be permitted to directors, officers and controlling
persons of the registrant pursuant to the foregoing provisions,
or otherwise, the registrant has been advised that in the opinion
of the Securities and Exchange Commission such indemnification is
against public policy as expressed in the 1933 Act and is,
therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment
by the registrant of expenses incurred or paid by a director,
officer, or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted
by such director, officer or controlling person in connection
with the securities being registered, the registrant will, unless
in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is
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against public policy as expressed in the 1933 Act and will be
governed by the final adjudication of such issue.
-----------------
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933,
the registrant certifies that it has reasonable grounds to believe that
it meets all of the requirements for filing on Form S-8 and has duly
caused this registration statement to be signed on its behalf by the
undersigned thereunto duly authorized, in The City of Akron and State
of Ohio, on the 30th day of June, 1998.
FIRSTENERGY CORP.
By /s/ H. Peter Burg
------------------
H. Peter Burg
President, Chief Operating Officer and Director
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Each of the undersigned directors and officers of the
Registrant, individually as such director and/or officer, hereby
makes, constitutes and appoints H. Peter Burg and Nancy C.
Ashcom, and each of them, singly or jointly, with full power of
substitution, as his true and lawful attorney-in-fact and agent
to execute in his name, place and stead, in any and all
capacities, and to file with the Commission, this registration
statement and any and all amendments, including post-effective
amendments, to this registration statement, which amendment may
make such changes in the registration statement as the registrant
deems appropriate hereby ratifying and confirming all that each
of said attorneys-in-fact, or his, her or their substitute or
substitutes, may do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933,
this registration statement has been signed below by the
following persons in the capacities and on the dates indicated.
Signature Title Date
- --------- ----- ----
/s/Willard R. Holland Chairman of the Board June 30,1998
- --------------------- and Chief Executive
(Willard R. Holland) Officer
/s/H.Peter Burg President, Chief June 30, 1998
- --------------- Operating Officer
(H. Peter Burg) and Director
/s/Richard H. Marsh Vice President and June 30, 1998
- ------------------- Chief Financial
(Richard H. Marsh) Officer
/s/Harvey L. Wagner Controller and Chief June 30, 1998
- ------------------- Accounting Officer
(Harvey L. Wagner)
/s/Robert M. Carter
- ------------------- Director June 30, 1998
(Robert M. Carter)
/s/Dr. Carol A. Cartwright Director June 30, 1998
- --------------------------
(Dr. Carol A. Cartwright)
/s/William F. Conway Director June 30, 1998
- --------------------
(William F. Conway)
/s/Robert L. Loughhead Director June 30, 1998
- ----------------------
(Robert L. Loughhead)
/s/Robert B. Heisler, Jr. Director June 30, 1998
- -------------------------
(Robert B. Heisler, Jr.)
/s/Russell W. Maier Director June 30, 1998
- -------------------
(Russell W. Maier)
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Signature Title Date
- --------- ----- ----
/s/Glenn H. Meadows Director June 30, 1998
- -------------------
(Glenn H. Meadows)
Director
- ------------------
(Paul J. Powers)
/s/Robert C. Savage Director June 30, 1998
- -------------------
(Robert C. Savage)
Director
- -------------------
(George M. Smart)
/s/Jesse T.Williams,Sr. Director June 30, 1998
- ----------------------
(Jesse T.Williams,Sr.)
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EXHIBIT INDEX
Exhibit
No. Description
- ------- -----------
4(a)* Amended Articles of Incorporation of FirstEnergy Corp.
(physically filed and designated in Registration
Statement No. 333-21011 as Exhibit (3)-1).
4(b)* Amended Code of Regulations of FirstEnergy Corp.
(physically filed and designated in Registration
Statement No. 333-21011 as Exhibit (3)-2).
4(c)* Form of Common Stock Certificate (physically filed and
designated in Registration Statement No. 333-40063 as
Exhibit 4(c).
4(d)* Rights Agreement dated as of November 18, 1997, between
FirstEnergy Corp. and The Bank of New York and form of
Right Certificate (physically filed and designated in
Current Report of Form 8-K dated November 18, 1997 as
Exhibit 4.1).
5 Opinion of David L. Feltner, Esq., Associate General
Counsel for the Company as to the securities being
registered.
15 Letter re Unaudited Interim Financial Information.
23(a) Consent of David L. Feltner, Esq. (contained in Exhibit
No. 5).
23(b) Consent of Independent Accountants, Arthur Andersen LLP.
- ------------------------
* Incorporated by reference as noted therein.
EXHIBIT 5
and 23(a)
June 30, 1998
FirstEnergy Corp.
76 South Main Street
Akron, Ohio 44308
Re: Registration Statement on Form S-8 of FirstEnergy
Corp. Relating to the Issuance Shares of Common
Stock Pursuant to the FirstEnergy Corp. Executive
and Director Incentive Compensation Plan (the
"Plan")
Ladies and Gentlemen:
I have acted as counsel to FirstEnergy Corp., an Ohio
corporation (the "Company"), in connection with the preparation
of a registration statement on Form S-8 (the "Registration
Statement") to be filed with the Securities and Exchange
Commission (the "Commission") under the Securities Act of 1933,
as amended (the "Act"), relating to the offering of up to
7,500,000 shares (the "Shares") of the Company's Common Stock,
par value $.10 per share, to be issued pursuant to the provisions
of the FirstEnergy Corp. Executive and Director Incentive
Compensation Plan (the "Plan"). I have examined such records,
documents, statutes and decisions as I have deemed relevant in
rendering this opinion.
I am of the opinion that when:
(a) the applicable provisions of the Securities
Act of 1933 and of State securities or blue sky laws
shall have been complied with, and
(b) the Company's Board of Directors shall have
duly authorized the issuance of such Shares, and
(c) the Shares shall have been duly issued and paid
for in an amount not less than par value of $.10 per share,
the Shares will be legally issued, fully paid and non-assessable.
I hereby consent to the use of this opinion as Exhibit 5 to
the Registration Statement. In giving such opinion, I do not
thereby admit that I am acting within the category of persons
whose consent is required under Section 7 of the Act or the rules
or regulations of the Commission thereunder.
Very truly yours,
/s/David L. Feltner
-------------------
David L. Feltner
EXHIBIT 23(b)
Consent of Independent Public Accountants
-----------------------------------------
As independent public accountants, we hereby consent to the
incorporation by reference in this registration statement of our
reports dated February 13, 1998 included or incorporated by
reference in FirstEnergy Corp.'s Form 10-K for the year ended
December 31, 1997 and to all references to our Firm included in
this registration statement.
Arthur Andersen LLP
Cleveland, Ohio
July 1, 1998
EXHIBIT 15
July 1, 1998
FirstEnergy Corp.:
We are aware that FirstEnergy Corp. has incorporated by reference
in its Registration Statement on Form S-8 relating to the
registration of 7,500,000 shares of Common Stock, its Form 10-Q
for the quarter ended March 31, 1998, which includes our reports
dated May 13, 1998 covering the unaudited interim financial
information contained therein. Pursuant to Regulation C of the
Securities Act of 1933, these reports are not considered a part
of the registration statement prepared or certified by our firm
or a report prepared or certified by our firm within the meaning
of Sections 7 and 11 of the Act.
Very truly yours,
Arthur Andersen LLP
