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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
July 2, 1997
Date of Report (Date of earliest event reported)
WEDGESTONE FINANCIAL
(Exact name of registrant as specified in its charter)
MASSACHUSETTS 1-8984 04-26950000
(State or other juris- (Commission File Number) (IRS Employer
diction of incorporation) Identification No.)
5200 N. Irwindale Avenue
Suite 168
Irwindale, California 91706
(Address of principial executive offices)
(818) 338-3555
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On July 2, 1997, the Company announced that Jeffrey S. Goldstein, the
Company's President had resigned to pursue other opportunities. The Company
further announced the promotion of David L. Sharp and Eric H. Lee as the
Company's Chief Executive Officer and Chief Financial Officer, respectively.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
99.1 Filed herewith is the Company's press release dated July 2, 1997.
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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.
WEDGESTONE FINANCIAL
(Registrant)
Dated: July 2, 1997 By /s/ David L. Sharp
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David L. Sharp
Chief Executive Officer
(Principal Executive Officer)
The name "Wedgestone Financial" (formerly Wedgestone Realty Investors
Trust) is the designation of the Trustees under a Declaration of Trust dated
March 12, 1980, as amended, and in accordance with such Declaration of Trust,
notice is hereby given that all persons dealing with Wedgestone Financial by
so acting acknowledge and agree that such persons must look solely to the
Trust property for the enforcement of any claims against Wedgestone Financial
and that neither Trustees, officers, employees, agents nor shareholders
assume any personal liability for claims against the Trust or obligations
entered into on behalf of Wedgestone Financial, and that the respective
properties shall not be subject to claims of any other person in respect of
any such liability.
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FOR IMMEDIATE RELEASE
WEDGESTONE FINANCIAL ANNOUNCES MANAGEMENT CHANGES
CONTACT: DAVID L. SHARP, PRESIDENT
818-960-6762
IRWINDALE, CALIFORNIA (JULY 2, 1997) Wedgestone Financial (OTC-WDGF) today
announced that Jeffrey S. Goldstein, the Company's President, has resigned
to pursue other opportunities. Mr. Goldstein will continue to serve on the
Company's Board of Trustees. David L. Sharp, the Chief Executive Officer of
Wedgestone Automotive Corp., the Company's principal operating subsidiary,
has been named President of the Company. In addition, Eric H. Lee, the Chief
Financial Officer of Wedgestone Automotive Corp., has been named Chief
Financial Officer of the Company.
Mr. Sharp has served as the Chief Executive Officer of Wedgestone
Automotive Corp. since November 19, 1994. From 1989 to 1994, Mr. Sharp served
as President of Standun, Inc. and its Fey Automotive Products division, which
was acquired by the Company in November 1994. Prior thereto, Mr. Sharp served
in various capacities with Standun's subsidiaries and divisions.
Mr. Lee has served as the Chief Financial Officer, Treasurer and
Secretary of Wedgestone Automotive Corp. since November 1994. From January
1994 until November 1994, Mr. Lee served as Chief Financial Officer of
Standun and from February 1993 until January 1994 as Controller of the Fey
Automotive Products division. From 1991 to 1993, Mr. Lee served as President
and Chief Operating Officer of Synthane Taylor, a subsidiary of ALCO
Industries. Prior thereto, Mr. Lee served in various management positions
within the electronics industry.
Wedgestone is primarily engaged in the business of manufacturing
automotive parts for the light duty truck aftermarket. The Company
distributes its products through its national distribution system and has two
manufacturing plants located in Irwindale, California and St. James,
Minnesota.
