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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): JULY 8, 1996
TELXON CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 0-11402 74-1666060
(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
3330 WEST MARKET STREET, AKRON, OHIO 44333
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
ISSUER'S TELEPHONE NUMBER, INCLUDING AREA CODE: (330) 867-3700
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ITEM 5. OTHER EVENTS.
On July 8, 1996, Telxon Corporation issued a press release
announcing the authorization by its Board of Directors of the repurchase by the
company of up to 3 million shares of its outstanding common stock and initial
repurchases of 100,000 shares under the repurchase program. A copy of the
press release is included as Exhibit 99 to this Current Report on Form 8-K and
is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99 Press Release issued by registrant on July 8, 1996.
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.
TELXON CORPORATION
DATE: July 8, 1996 By: /s/ Glenn S. Hansen
-------------------
Glenn S. Hansen
Vice President, Legal Administration
and Corporate Counsel
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Exhibit 99
[TELXON LOGO]
NEWS RELEASE
FOR IMMEDIATE RELEASE
TELXON ANNOUNCES AUTHORIZATION TO REPURCHASE SHARES
AKRON, OHIO, July 8, 1996 -- Telxon Corporation (TLXN - Nasdaq - NNM)
announced today that its Board of Directors has authorized the company to
repurchase up to 3 million of its outstanding common shares in open market
transactions over the next year depending on market conditions. Subsequent to
the Board's approval of this repurchase program, the company repurchased
100,000 shares of common stock in open market transactions.
Telxon Corporation is a leading global designer and manufacturer of
wireless and mobile transaction solution systems for vertical markets. The
company integrates advanced mobile computing and wireless data communication
technology with a wide array of peripherals, application-specific software and
global technical services for its customers in more than 50 countries around the
world. Telxon's executive, engineering, marketing and sales offices are
headquartered in Akron, Ohio; its world manufacturing and domestic customer
service facilities are located in Houston, Texas. Telxon International Division
is headquartered in Brussels, Belgium. Telxon's World Wide Web site address is:
http://www.telxon.com.
# # #
For more information:
Alex L. Csiszar
Senior Director, Investor Relations
Telxon Corporation
(330) 873-2961
Telxon Corporation/Corporate Communications Department
3330 West Market Street/P.O. Box 5582/Akron, Ohio 44334-0582
800-800-8001/Fax (330) 873-2058
