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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 and Exchange Act of 1934
Date of Report (Date of earliest event reported) May 26, 1999
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EDUTREK INTERNATIONAL, INC.
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(Exact name of registrant as specified in its charter)
Georgia 0-23021 58-2255472
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
6600 Peachtree Dunwoody Road, 500 Embassy Row, Atlanta, Georgia 30328
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (404) 965-8000
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Not applicable
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER.
On May 26, 1999, A. Reza Jafari announced his resignation as a Director
of EduTrek International, Inc. (the "Company") effective May 26, 1999 and as
President and Chief Operating Officer of the Company effective August 19, 1999.
Dr. Jafari had held such positions since April 21, 1999. The Company's press
release announcing Dr. Jafari's resignation is filed as an exhibit to this
Current Report.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits. The following exhibits are filed herewith:
99.1 Press Release dated May 28, 1999
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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 hereunto duly authorized.
EDUTREK INTERNATIONAL, INC.
By: /s/ Steve Bostic
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Steve Bostic
Chairman and Chief Executive Officer
Dated: June 15, 1999
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EXHIBIT 99.1
EDUTREK ANNOUNCES RESIGNATION OF
JAFARI AS PRESIDENT AND CHIEF OPERATING OFFICER
ATLANTA-(BUSINESS WIRE)-May 28, 1999-EduTrek International, Inc. (Nasdaq: EDUT),
the operator of American InterContinental University (AIU), today announced that
Dr. A. Reza Jafari has resigned as President and Chief Operating Officer of
EduTrek.
Dr. Jafari's principal responsibilities were to develop AIU's international
expansion plans beyond 2000.
Steve Bostic, EduTrek's Chairman and CEO, commented, "Dr. Jafari's brief
employment did not permit the development of any significant new expansion
initiatives. Accordingly, I will reassume responsibility for these activities
while we search for a new Chief Operating Officer."
EduTrek, through American InterContinental University, is a leading provider of
career-oriented, internationally focused and fully accredited higher education
programs. The Company operates campuses in Atlanta (Buckhead and Dunwoody),
London, Los Angeles, Washington, D.C., and Dubai, United Arab Emirates, with
curricula focusing on information technology, international business, multimedia
communications, art and design.
Forward-Looking Statements -- Certain statements contained in this press release
are "forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995, such as statements relating to the financial
results and plans for future business development activities, and are thus
prospective. Such forward-looking statements are subject to risks, uncertainties
and other factors, which could cause actual results to differ materially from
future results expressed or implied by such forward-looking statements.
Potential risks and uncertainties include, but are not limited to, economic
conditions, competition and other uncertainties detailed from time to time in
the Company's Securities and Exchange Commission filings.
Contact:
Dan Moore
Chief Financial Officer
(404) 965-8000
