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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): March 20, 1998
AMERICAN VANTAGE COMPANIES
(Exact name of registrant as specified in its charter)
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Nevada 0-10061 04-2709807
(State or Other Jurisdiction (Commission File Number) (IRS Employer Ident. No.)
of Incorporation)
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6787 West Tropicana, Suite 200, Las Vegas, Nevada 89103
(Address of Principal Executive Offices) (Zip Code)
(702) 227-9800
Registrant's telephone number, including area code
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Item 5. Other Events.
On March 20, 1998 the Board of Directors of American Vantage
Companies, a Nevada corporation (the "Registrant"), authorized the expenditure
of up to $2,000,000 to repurchase the Registrant's common stock (the
"Repurchase Program").
The Company announced no date for completing the Repurchase Program,
but will purchase shares subject to applicable securities laws and at times and
in amounts as management deems appropriate. In the Repurchase Program, shares
may be purchased in open market or privately negotiated transactions, with the
timing and terms of such purchases to be determined by management based on
market conditions.
Item 7. Exhibits.
99.1 Press Release of American Vantage Companies, dated March
20, 1998.
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 thereunto duly authorized.
AMERICAN VANTAGE COMPANIES
(Registrant)
By: /s/ Ronald J. Tassinari
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Ronald J. Tassinari
President
Date: April 3, 1998
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EXHIBIT INDEX
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Exhibit No. Description
99.1 Press Release of American Vantage Companies, dated March 20, 1998.
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Exhibit 99.1
Press Release of
American Vantage Companies,
dated March 20, 1998
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[AMERICAN VANTAGE COMPANIES LETTERHEAD]
CONTACT AT THE COMPANY:
AUDREY TASSINARI, EXECUTIVE VICE PRESIDENT
702-227-9800
FOR IMMEDIATE RELEASE
FRIDAY, MARCH 20, 1998
AMERICAN VANTAGE COMPANIES AUTHORIZES STOCK REPURCHASE PROGRAM
LAS VEGAS, NEVADA, MARCH 20, 1998 -- American Vantage Companies (NASDAQ:ACES)
announced today that its Board of Directors has authorized the expenditure of
up to $2,000,000 to repurchase the Company's common stock.
The Company announced no date for completing the program, but will purchase
shares subject to applicable Securities Laws and at times and in amounts as
management deems appropriate. In the buyback program, shares may be purchased
in open market or privately negotiated transactions, with the timing and terms
of such purchases to be determined by management based on market conditions.
Ronald J. Tassinari, President and CEO said, "In light of recent developments
and on-going diversification plans, management believes that our Company's
common stock is undervalued, and, as such, purchases by the Company at this
level will afford long-term benefits to both the Company and its shareholders."
American Vantage Companies (NASDAQ:ACES) has a gaming consulting contract with
the Table Mountain Tribe for the Table Mountain Casino located in Friant,
California and is also developing a funeral home and cemetery in N. Las Vegas,
Nevada.
This press release may contain forward-looking statements, which are subject to
risks and uncertainties, such as the legal status of Indian gaming in the State
of California. The Company's actual results may differ materially from those
described in any forward-looking statements. Additional information concerning
potential risk factors that could affect the Company's business and financial
results are included in the Company's filings with the Securities and Exchange
Commission. They can also be found on the Company's website at www.aces1.com
and on the Securities and Exchange Commission's website at www.sec.gov.
