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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: January 10, 1994
THE FOOTHILL GROUP, INC.
(Exact name of registrant as specified in charter)
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<S> <C> <C>
Delaware 0-5467 94-1663353
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(State of Incorporation) (Commission (IRS Employer
File Number) Identification No.)
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11111 Santa Monica Boulevard
Los Angeles, California 90025
(Address of principal executive office)
Registrant's telephone number: (310) 996-7000
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Item 7: Financial Statements, Pro Forma Financial Information and Exhibits
Exhibit 28 - Additional Exhibits
Press release that finalizes offering amount for new Thrift
holding company.
Press release announcing increase in dividend and revised
record date.
Press release that completes spin-off of Foothill Thrift.
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.
Dated: January 10, 1994 THE FOOTHILL GROUP, INC.
By: C/HENRY K. JORDAN
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Henry K. Jordan
Vice President and
Chief Financial Officer
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[THE FOOTHILL GROUP LETTERHEAD]
THE FOOTHILL GROUP, INC. COMPLETES
SPIN-OFF OF FOOTHILL THRIFT
LOS ANGELES, CALIFORNIA, December 23, 1993 . . . The Foothill
Group, Inc. (NYSE-FGI) today reported that the previously announced spin-off
of Pacific Crest Capital, Inc. to Foothill Group shareholders has been
consummated. Pacific Crest Capital, Inc. is the newly formed holding company
which now owns Foothill Thrift and Loan, previously a subsidiary of The
Foothill Group, Inc. Pacific Crest Capital, Inc. also today successfully
completed its Preferred Stock offering.
The common shares of Pacific Crest Capital, Inc. were, in
accordance with previous announcements, distributed to Foothill Group
shareholders on the basis of one common share of Pacific Crest Capital, Inc.
for each fifteen common shares of Foothill Group.
The Foothill Group, Inc. is a financial services company
engaged in the commercial finance and asset management businesses. At
September 30, 1993, Foothill had total assets owned or under management of
more than $1.3 billion. Foothill Capital Corporation, the Company's wholly
owned subsidiary, provides asset-based financing secured by accounts
receivable, inventory, equipment and other assets to businesses throughout
the United States. The parent company's asset management operation manages
institutional limited partnerships which invest in the debt of companies
which are in reorganization or in the process of restructuring.
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[THE FOOTHILL GROUP LETTERHEAD]
THE FOOTHILL GROUP, INC. INCREASES QUARTERLY
DIVIDEND TO 5 CENTS PER SHARE
RECORD DATE REVISED TO DECEMBER 28
LOS ANGELES, CALIFORNIA, December 17, 1993 . . . The Foothill
Group, Inc. (NYSE-FGI) Board of Directors today declared a $.05 quarterly cash
dividend on its Class A common stock. This represents a 67% increase from the
previous dividend payment level of $.03 per quarter. The dividend is payable
on January 27, 1994, to shareholders of record on December 28, 1993. The
previously reported record date of December 27, 1993 was revised due to the
holiday schedule of the New York Stock Exchange.
Commenting on the increase, Don L. Gevirtz, Chairman of the
Board, said "Our Board of Directors felt this increase was appropriate given
the strength and continued strong profitability of both our asset-based lending
and money management businesses."
The Foothill Group, Inc. is a financial services company engaged
in the commercial finance and asset management businesses. At September 30,
1993, Foothill had total assets owned or under management of more than $1.3
billion. Foothill Capital Corporation, the Company's largest subsidiary,
provides asset-based financing secured by accounts receivable, inventory,
equipment and other assets to businesses throughout the United States. Foothill
Thrift and Loan, which is being spun-out to Foothill Group shareholders,
specializes in providing commercial real estate financing for California based
small businesses and entrepreneurs. The parent company's asset management
operation manages institutional limited partnerships which invest in the debt of
companies which are in reorganization or in the process of restructuring.
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[THE FOOTHILL GROUP LETTERHEAD]
THE FOOTHILL GROUP, INC. FINALIZES OFFERING
AMOUNT FOR NEW THRIFT HOLDING COMPANY
LOS ANGELES, CALIFORNIA, December 16, 1993 . . . The Foothill
Group, Inc. (NYSE-FGI) today announced that Pacific Crest Capital, Inc. has
received subscriptions for Preferred Stock in excess of the minimum required
in its recent offering. Subscriptions for $14,025,000 of Preferred Stock to
be issued by Pacific Crest Capital, Inc. were received. Upon closing of the
offering, expected on December 23, 1993, the previously announced spin-off of
Pacific Crest Capital, Inc. to Foothill Group shareholders will be
consummated. Pacific Crest Capital, Inc. is the newly formed holding company
for the Foothill Thrift subsidiary of The Foothill Group, Inc.
Concurrent with the closing of the offering, the common shares
of Pacific Crest Capital, Inc. will, in accordance with previous
announcements, be distributed and payable on December 23, 1993, to Foothill
Group shareholders of record on December 16, 1993. The spin-off will be made
on the basis of one common share of Pacific Crest Capital, Inc. for each
fifteen common shares of Foothill Group. Foothill Group common stock will
continue to trade with "due bills" attached through and including the
distribution date of December 23, 1993. These "due bills" entitle owners of
Foothill Group common stock to receive the spin-off shares of common stock of
Pacific Crest Capital, Inc.
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The Foothill Group, Inc. is a financial services company
engaged in the commercial finance and asset management businesses. At
September 30, 1993, Foothill had total assets owned or under management of
more than $1.3 billion. Foothill Capital Corporation, the Company's largest
subsidiary, provides asset-based financing secured by accounts receivable,
inventory, equipment and other assets to businesses throughout the United
States. The parent company's asset management operation manages
institutional limited partnerships which invest in the debt of companies
which are in reorganization or in the process of restructuring.
