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
February 28, 1995
Date of Report (Date of earliest event reported)
Fairfield Communities, Inc.
(Exact name of Registrant as specified in its Charter)
Delaware 1-8096 71-0390438
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) identification Number)
2800 Cantrell Road
Little Rock, Arkansas 72202
(501)664-6000
(Address including zip code and telephone number including
area code of Registrant's principal executive offices)
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INFORMATION INCLUDED IN THE REPORT
ITEM 5. OTHER EVENTS
The number of shares of the Company's Common Stock outstanding as of
February 28, 1995 totaled 9,963,742 and the aggregate market value of the
Company's Common Stock held by nonaffiliates totaled approximately $51.5
million at February 28, 1995. The computation of the number of shares of
Common Stock outstanding at February 28, 1995 varies with that computed as of
January 31, 1995 and reflected on the cover page of the Company's Form 10-K
for the year ended December 31, 1994 by 710,662 shares, which represents the
number of shares estimated as remaining to be issued upon resolution of all
unsecured claims under the Seventh Amended and Restated Joint Plans of
Reorganization (the "Plans"). In accordance with the terms of the Plans, the
number of shares to be issued to unsecured claim holders will approximately
equal 10,000,000 shares multiplied by the quotient of the total amount of the
allowed unsecured claims divided by $85 million. The estimated amount of
allowed claims, exclusive of the contingent claim which could result in the
issuance of up to 588,235 shares of Common Stock to the holders of the Senior
Subordinated Secured Notes, and exclusive of claims which have been satisfied
through the issuance of Common Stock to wholly owned subsidiaries of the
Company (which stock is currently held as treasury stock), totaled $90.7
million as of February 28, 1995.
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.
FAIRFIELD COMMUNITIES, INC.
By: William G. Sell
----------------------------
William G. Sell
Vice President/Controller and
Chief Accounting Officer
Date: March 28, 1995
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