UNITED STATES
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 earliest event reported): December 2, 1999
PACER TECHNOLOGY
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(Exact name of registrant as specified in its charter)
California 0-8864 77-0080305
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
9420 Santa Anita Avenue
Rancho Cucamonga, California 91730
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(Address of principal executive offices)
(909) 987-0550
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(Registrant's telephone number, including area code)
Not applicable.
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(Former name or former address, if changed since last report.)
The Index to Exhibits
is on page 5.
Page 1 of 6.
Item 5. Other Events
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Stock Repurchase Program
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On December 2, 1999 the Pacer Technology Board of Directors authorized the
repurchase of up to 10% of Pacer's outstanding Common Stock. The shares
may be repurchased from time to time in the open market or in block
purchases and in private transactions and are to be used to provide shares for
employer equity compensation plans.
The Company issued a press release on December 14, 1999 announcing the
details of the Stock Repurchase Program, a copy of which is attached hereto
as Exhibit 99.1.
Page 2
Item 7.Financial Statements, Pro Forma Financial Information and
Exhibits
(a) Financial Statements.
Not Applicable
(b) Pro Forma Financial Statements.
Not Applicable
(c) Exhibits.
99.1 Press Release Issued on December 14, 1999 announcing
Stock Repurchase Program
Page 3
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.
PACER TECHNOLOGY
Date: December 21, 1999 By /s/Laurence Huff
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Laurence Huff, Chief Financial Officer
Page 4
INDEX TO EXHIBITS
Exhibit No. Sequential Page No.
99.1 Press Release Issued on December 14, 1999
announcing Stock Repurchase Program 5
PACER TECHNOLOGY ANNOUNCES ADOPTION OF STOCK REPURCHASE PROGRAM
Rancho Cucamonga, California, December 14, 1999. Pacer Technology
(NASDAQ: "PTCH") announced that its Board of Directors has authorized a program
for repurchases of up to 10%, of Pacer's outstanding Common Stock. Shares
purchased under this program are to be used to provide shares for employer
equity compensation plans. The stock repurchase program will be put into effect
within the next 30 days.
Share repurchases by the Company may be made from time to time in the
open market or in block purchases and in private transactions in compliance with
Securities and Exchange Commission rules and guidelines. "We believe that the
buy-back of our shares is an attractive opportunity for the Company and is a
good investment of corporate funds and is in the best interests of our
shareholders," stated Tom Nightingale, Pacer's President and Chief Executive
Officer.
This document contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. In addition, from time to time,
Pacer Technology, or its representatives, have made or may make
forward-looking statements, orally or in writing. The words "estimate,"
"project," "potential," "intended," "expect," "believe" and similar
expressions or words are intended to identify forward-looking statements.
Such forward-looking statements may be included in, but are not limited to,
various filings made by the Company with the Securities and Exchange Commission,
press releases or oral statements made with the approval of an authorized
executive officer of the Company. Actual results could differ materially
from those projected or suggested in any forward-looking statements as a result
of a wide variety of factors and conditions. Reference is hereby made to the
Company's Annual Report on Form 10-K for the fiscal year ended June 30, 1999,
for information regarding those factors and conditions.
Pacer Technology is a world-class manufacturer, packaging and distribution
company engaged in marketing advanced technology adhesives, sealants, and
related products, as well as manicure implements for consumer markets on a
worldwide basis. It is the provider of SUPER GLUE, ZAP, PRO SEAL,
Cook Bates, Diamon Deb/Kurlash and Gem, and other well known branded products.
Exhibit 99.1
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