SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported) June 16, 2000 (June 9, 2000)
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Commission file number 1-12917
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WELLSFORD REAL PROPERTIES, INC.
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(Exact name of registrant as specified in its charter)
Maryland 13-3926898
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(State or other jurisdiction (IRS Employer Identification No.)
of incorporation or organization)
535 Madison Avenue, New York, NY 10022
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(Address of principal executive offices)
(Zip Code)
(212) 838-3400
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(Registrant's telephone number, including area code)
N/A
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(Former Name or Former Address, if Changed Since Last Report)
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ITEMS 1. - 4. NOT APPLICABLE.
ITEM 5. OTHER EVENTS.
On June 9, 2000, the shareholders of Wellsford Real
Properties, Inc. approved a reverse stock split whereby every
two outstanding shares of common stock and class A-1 common
stock were converted into one share of outstanding common
stock or class A-1 common stock. The par value of both classes
of stock increased from $.01 per share to $.02 per share and
the number of authorized shares was halved from 197,650,000 to
98,825,000 for common shares and from 350,000 to 175,000 for
class A-1 common shares. The reverse split was effective for
trading beginning Monday, June 12, 2000. Resulting fractional
shares will be redeemed for cash.
The shareholders also approved the election of three
nominated directors for terms of three years: Richard S.
Frary, Martin Bernstein, and Meyer "Sandy" Frucher. Mr.
Frary has been a director of WRP since 1998. Mr. Bernstein
and Mr. Frucher are new members of the board.
In addition, the Company announced that Rodney F. Du Bois is
relinquishing his operating responsibilities, including Chief
Financial Officer. He will continue as Vice-Chairman,
concentrating primarily on strategic issues and initiatives.
Jeffrey H. Lynford, the Chairman of WRP, will assume the
additional duties of Chief Financial Officer.
ITEM 6. NOT APPLICABLE.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements.
None.
(b) Pro forma Financial Information.
None.
(c) Exhibits.
The following exhibits are filed with this Form 8-K:
EXHIBIT NO. EXHIBIT
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99.1 Press release dated June 9, 2000, of Wellsford
Real Properties, Inc.
ITEMS 8 - 9. NOT APPLICABLE.
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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 thereunto duly authorized.
WELLSFORD REAL PROPERTIES, INC.
By: /s/ James J. Burns
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James J. Burns
Senior Vice President, Chief Accounting Officer
Dated: June 16, 2000
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