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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) DECEMBER 1, 1997
BEST SOFTWARE, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
VIRGINIA 333-33275 54-1222526
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification No.)
11413 ISAAC NEWTON SQUARE
RESTON, VA 20190
(703) 709-5200
(Address, including zip code, and telephone number, including area code, of
registrant's principal executive offices)
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ITEM 5. OTHER EVENTS
Best Software, Inc. announced on December 1, 1997 that its Board of Directors
has approved the repurchase of up to an aggregate of 200,000 shares of its
common stock to fund the requirements of its stock plans. None of the proceeds
of the Company's recently completed initial public offering will be used to
repurchase these shares.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
c. EXHIBITS
See Index to Exhibits attached
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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 each of
the undersigned hereunto duly authorized.
BEST SOFTWARE, INC.
By: /s/ Timothy A. Davenport
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Timothy A. Davenport
President and Chief Executive Officer
By: /s/ David N. Bosserman
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David N. Bosserman
Executive Vice President,
Chief Financial Officer and Treasurer
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INDEX TO EXHIBITS
Exhibit Number
99.1 Press Release dated December 1, 1997
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Contact:
David Bosserman Dianne Rabbitt
Best Software, Inc. Baron, McDonald & Wells
703-709-5200, ext. 3286 770-492-0373
e-mail: [email protected] e-mail: [email protected]
BEST SOFTWARE, INC. ANNOUNCES SHARE REPURCHASE PROGRAM FOR STOCK PLANS
RESTON, Va (December 1, 1997) -- Best Software, Inc. (Nasdaq: BEST), a leading
provider of asset, human resource and payroll management software for middle
market businesses, today announced that its Board of Directors has approved the
repurchase of up to an aggregate of 200,000 shares of its common stock to fund
the requirements of its stock plans. "We believe, that based on current market
prices, our stock is undervalued and that it is in the best interest of our
shareholders for us to acquire shares in the open market for our stock plan
needs rather than incur dilution", said Tim Davenport, President and CEO. The
Company may, from time to time, acquire shares in open market transactions at
prevailing market prices or in negotiated transactions off the market. None of
the proceeds of the Company's recently completed initial public offering will
be used to repurchase shares under this program.
ABOUT BEST SOFTWARE
Best Software, Inc., with offices in Reston, Va., St. Petersburg, Fla., and
Ontario, Canada, is a leading provider of asset, human resource and payroll
management software solutions for middle market businesses. Its cost-effective
solutions complement core accounting systems and are scaleable, supporting
Microsoft operating systems including Windows 95 and Windows NT.
For more information, contact Best Software, Inc. at 11413 Isaac Newton Square,
Reston, VA 22090, call 800/368-2405, or visit http://www.bestsoftware.com.
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