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) July 28, 1995.
Page America Group, Inc.
(Exact name of registrant as specified in charter)
New York 1-10682 13-2865787
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) No.)
125 State Street, Hackensack, NJ 07601
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 201-342-6676
(Former name or former address, if changed since last report.)
Item 2. Acquisition or Disposition of Assets.
On July 28, 1995, pursuant to an Asset Purchase
Agreement dated as of February 24, 1995 (the "Agreement"), Page
America Group, Inc. ("Page America"), through subsidiaries, sold
to Paging Network of Florida, Inc. substantially all of its
California and Florida radio paging assets.
The purchase price paid to Page America for the assets
was approximately $19 million, which is subject to certain post
closing adjustments.
The purchase price and all negotiations relating to
the consummation of the acquisition were determined on an arm's
length basis.
The foregoing description of the sale is qualified in
its entirety by reference to the complete text of the Agreement
which is filed as an exhibit to this Report.
Item 5. Other Events.
Effective August 1, 1995, Steven L. Sinn resigned as
Chairman of the Board and Chief Executive Officer of the
Company.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
Any financial statements or pro forma financial
information required to be filed pursuant to Regulation S-X will
be filed by amendment.
Exhibits
2(a) Asset Purchase Agreement dated as of February 24,
1995, by and among Page America Group, Inc., Page America
Communications of California, Inc., Page America Communications
of Florida, Inc., Page America of New York, Inc. and Paging
Network of Florida, Inc. Incorporated by reference to Exhibit
10.10 to Annual Report on Form 10-K for the fiscal year ended
December 31, 1994.
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.
PAGE AMERICA GROUP, INC.
Dated: August 1, 1995 By:/s/Kathleen C. Parramore
Kathleen C. Parramore,
President
