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SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
PURSUANT TO SECTION 13 or 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
December 18, 1998
Commission File Number: 0-9969
Century Industries, Inc.
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(Exact name of Registrant as specified in its charter)
District of Columbia 54-1666769
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(State or other jurisdiction of (I.R.S. Employer
incorporation of organization) Identification No.)
45034 Underwood Lane
Sterling, Va. 20166
(Mail) P.O. Box 319
Sterling, Va. 20167
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (703) 471-7606.
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 of 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
(1) Yes __X__ No ____
(2) Yes __X__ No ____
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Item 5. Other Events.
The Registrant announces a restructuring of the Company's management.
Joseph P. DeAlessandro has resigned as Chairman of the Board of the Company and
as Executive Counselor.
Mr. Ted Schwartzbeck will fulfill the role of acting Chairman until a
final appointment of that position is made.
Registrant also announces that the $7,000,000 private placement to be
conducted by Security Capital Trading, Inc., the proceeds of which were to be
used for the Registrant's proposed Florida property and casualty subsidiary, has
not been successfully completed. Based upon the "all or none" character of that
private placement, Registrant announces that the offering can not be completed
by Security Capital.
Registrant is, however, presently considering alternative sources of
funding for its proposed Florida property and casualty insurance company
subsidiary.
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.
Century Industries, Inc.
December 18, 1998 /s/ Ted L. Schwartzbeck
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Ted L. Schwartzbeck, Director, Vice President
/s/ Jay Pignatello
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Jay Pignatello, Director, Secretary
/s/ Joel Gundersheimer
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Joel Gundersheimer, Director
