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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 Exchange Act of 1934
Date of Report (Date of earlist event reported) May 14, 1997
SEAL FLEET, INC.
(Exact name of registrant as specified in charter)
Nevada 0-5667 74-1670096
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(State or other jurisdiction (Commission (IRS Employee
of incorporation) File Number) Identification No.)
125 Worth Avenue, Suite 314, Palm Beach, FL 33480
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(Address of principal executive office (Zip code)
561-833-5111
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(Registrant's telephone number including area code)
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ITEM 5. OTHER EVENTS
Seal Fleet, Inc. issued a press release today, the text of which reads
as follows:
FOR RELEASE: May 20, 1997
Contact: James S. Goodner, CFO
SEAL FLEET, INC. ANNOUNCES APPROVAL OF ALL PROXY PROPOSALS AT COMPANY'S
ANNUAL MEETING
(Palm Beach, FL) Seal Fleet, Inc. ("SEALA"), to be renamed SEAL HOLDINGS
CORPORATION, announced today that shareholders approved all proxy proposals
at the Company's annual meeting held May 14, 1997 in Palm Beach, Florida.
In remarks made during the meeting, Thomas M. Ferguson, Chairman and CEO,
stated, "The approval of these proposals enables the Company to establish
potential strategic relationships and seek business acquisition
opportunities. With our reincorporation in Delaware, the Company now has
additional authorized preferred and common stock which may assist its
growth objectives."
Among other proposals approved by shareholders were a reverse/forward split
of the Company's common stock and appointment of Ernst & Young LLP as
auditors for the 1997 fiscal year.
Additionally, shareholders approved the 1997 Incentive Option Plan. The Board
of Directors delegated authority for administrating the plan to a committee
comprised of outside Directors. Mr. Ferguson stated, "The management of the
Company is optimistic about creating future shareholder value. Therefore,
the Company will not issue any of these options below the higher of the
then current market price or net asset value."
Founded in 1969, Seal Holdings Corporation is an acquisition company
headquartered in Palm Beach, Florida
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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, in the Town of Palm Beach, State
of Florida.
Seal Fleet, Inc.
By: /s/ James S. Goodner
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James S. Goodner
Vice President and Chief Financial Officer
