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 EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): August 9, 1999
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DAG MEDIA, INC.
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(Exact name of Registrant as specified in its charter)
NEW YORK 000-25991 11-3474831
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
125-10 Queens Boulevard, Kew Gardens, New York 11415
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(Address of principal executive office) (Zip Code)
(718) 261-2799
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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)
<PAGE>
Item 5: Other Events.
On August 6, 1999 the Registrant issued a press release announcing that
its Board of Directors has approved a stock repurchase program of up to 150,000
Common Shares of the Company over a twelve month period.
Item 7: Financial Statements, Pro Forma Financial Information and Exhibits.
Exhibits:
A. Press release, date August 6, 1999, announcing stock repurchase
program.
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 hereunto duly authorized.
DAG MEDIA, INC.
Date: August 9, 1999 By: /s/ Assaf Ran
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Assaf Ran,
President and Chief Executive Officer
2
NEWS RELEASE
US 1 DISTRIBUTION
FOR IMMEDIATE RELEASE
For more information, contact:
Assaf Ran
President
DAG Media, Inc.
(718) 263-8454
DAG MEDIA ANNOUNCES STOCK REPURCHASE PROGRAM
Kew Gardens, New York (Friday, August 6, 1999) -- DAG Media, Inc. (Nasdaq:
DAGM) announced today that its Board of Directors had authorized the purchase of
up to 150,000 of its Common Shares in open market purchases over the next 12
months.
The Company said its Board of Directors believes that DAG Media shares are
undervalued in the marketplace. Any shares purchased will be held in the
treasury for possible future use for general corporate purposes.
DAG Media is a leading independent print and on-line publisher of yellow
page directories, including NewYellow, a general interest yellow page directory
that is challenging the monopoly of the Bell Atlantic Yellow Pages in the New
York market. The company's directories are published on the Internet at
www.porty.com.
In accordance with the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, the Company notes that statements in this
release which look forward in time involve risks and uncertainties that
may cause actual results or achievements to materially differ from those
indicated by the forward-looking statements. These forward- looking
statements include any statements relating to increased demand for the
Company's services, expansion of the Company's business as well as any
other statements which are not solely historical. The Company's plans and
objectives are based on assumptions involving judgments with respect to
future economic, competitive and market conditions and future business
decisions, all of which are difficult or impossible to predict accurately
and many of which are beyond the control of the Company. Therefore, there
can be no assurance that the forward-looking statements will prove to be
accurate. The Company's documents filed with the SEC identify important
factors that may cause the actual results to differ materially from those
indicated by the forward-looking statements.
