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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
Date of Report (Date of earliest event reported) October 22, 1997
BESICORP GROUP INC.
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(Exact name of Registrant as specified in its charter)
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New York 0-9964 14-1588329
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(State or other (Commission File (I.R.S. Employer
jurisdiction of incorporation) Number) Identification No.)
1151 Flatbush Road, Kingston, New York 12401
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(Address of principal executive offices) (Zip Code)
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Registrant's telephone number, including area code: 914-336-7700
This document consists of 4 pages.
ITEM 5. OTHER EVENTS
On October 22, 1997, Besicorp Group Inc. announced that the Company and its
Chairman of the Board, President, and Chief Executive Officer, Michael F. Zinn,
were sentenced for offenses relating to illegal contributions to the 1992
election campaign of Congressman Maurice Hinchey. See attached Exhibit 99.1.
On October 28, 1997, the Company announced its plan for management continuity.
See attached Exhibit 99.2.
ITEM 5. EXHIBITS
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99.1 Press Release of the Company dated October 22, 1997
99.2 Press Release of the Company dated October 28, 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 hereunto duly authorized.
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Besicorp Group Inc., Registrant
By: /s/ Michael J. Daley
Michael J. Daley
Date: October 28, 1997 VP, CFO, Corporate Secretary
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Exhibit 99.1
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BESICORP GROUP INC. News Release
For Immediate Release
Contact: Steven G. Nachimson, Corporate Counsel 914-336-7700
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Kingston, New York, October 22, 1997 - Besicorp Group Inc. (AMEX Emerging
Companies Marketplace - BGI.EC) reported that the Company and its Chairman of
the Board and Chief Executive Officer, Michael F. Zinn, who previously entered
guilty pleas to offenses relating to illegal contributions to the 1992 election
campaign of Congressman Maurice Hinchey, were sentenced today by U.S. District
Judge Charles Brieant. Besicorp was fined $36,000. Mr. Zinn was sentenced to a
term of incarceration of six months, placed on supervised release for a period
of two years, and fined $36,673.
The fine imposed upon the Company will not have any material effect upon the
Company. A meeting of the Board of Directors will be held in the next several
days to discuss issues of management continuity.
Besicorp specializes in the development of independent power projects and energy
technologies.
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Exhibit 99.2
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BESICORP GROUP INC. News Release
For Immediate Release
Contact: Steven G. Nachimson, Corporate Counsel 914-336-7700
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Kingston, New York, October 28, 1997 - Besicorp Group Inc. (AMEX Emerging
Companies Marketplace - BGI.EC) reported that Michael F. Zinn has resigned as
Chairman of the Board, President, Chief Executive Officer, and member of the
Board of Directors, effective November 11, 1997. The Board appointed Michael J.
Daley as President, Chief Executive Officer, and Chief Financial Officer,
effective November 11, 1997. Mr. Daley currently serves as Besicorp's Vice
President, Chief Financial Officer, and Corporate Secretary.
In addition, Steven G. Nachimson, who currently serves as an executive officer
of the Company as Corporate Counsel and Assistant Corporate Secretary, has been
appointed General Counsel and Corporate Secretary. James E. Curtin, who
currently serves as Corporate Controller, has been appointed an executive
officer of the Company, as Vice President and Controller. Joseph P. Novarro, who
currently serves as Vice President, Project Development, has been appointed an
executive officer of the Company, and will retain the same title. All such
appointments will be effective November 11, 1997.
The Board also reduced the number of Directors to three effective upon the date
of Mr. Zinn's resignation. At that time, the Board of Directors will consist of
Gerald Habib, Harold Harris, and Richard Rosen.
Besicorp specializes in the development of independent power projects and energy
technologies.
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