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): November 27, 1996
(November 27, 1996)
......................... FRANKLIN RESOURCES, INC. ....................
(Exact name of registrant as specified in its charter)
.... DELAWARE ................. 1-9318 ....... 13-2670991 ...
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
777 MARINERS ISLAND BLVD., SAN MATEO, CALIFORNIA ........ 94404...
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code..(415) 312-3000
.......................................................................
(Former name or former address, if changed since last report)
Item 5. Other Events
Registrant is filing this Form 8-K in order to file a
press release reporting on a repurchase of certain of
its debt securities.
Item 7. Financial Statements and Exhibits
(c)Exhibits
Exhibit "A" - Press Release issued on November 27, 1996
by Franklin Resources, Inc.
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.
FRANKLIN RESOURCES, INC.
(Registrant)
Date: November 27, 1996 /s/____________________
LESLIE M. KRATTER
Vice President
(c) Exhibits
Exhibit "A" Press Release issued on November 27,1996
by Franklin Resources, Inc.
FROM: Franklin Resources, Inc.
Tel: 415/312-4701
Contact: Holly Gibson
- ---------------------------------------------------------
For Immediate Release
Franklin Resources Announces Repurchase of Securities
San Mateo, CA, November 27, 1996 -- Franklin
Resources, Inc. (NYSE:BEN) announced today that it had
entered into an agreement with the holders of its $150
million of 6.25% subordinated debentures to repurchase
approximately $75 million of such debentures and
associated option rights representing the right to
acquire 2,360,245 shares of the Company's common stock
for approximately $165.8 million. The Company also
announced that the holders of such debentures had
concurrently entered into an agreement to exercise the
remaining associated option rights with respect to the
remaining $75 million of debentures which, upon
consummation of the transaction, will be converted into
2,361,190 shares of the Company's common stock.
The subordinated debentures, which were due to
mature in August 2002, were issued in 1992 in association
with the $786 million acquisition of the assets of
Templeton, Galbraith & Hansberger Ltd. It is anticipated
that the Company will use a combination of available
funds and medium term notes to fund the repurchase of the
debentures and option rights.
The transactions are subject to certain waivers from
the Company's bank syndicate and to certain government
regulatory approvals.
Franklin Resources' primary business is the Franklin
Templeton Group with over $169 billion in assets under
management. Franklin's headquarters are located at 777
Mariners Island Blvd., San Mateo, CA, 94404.
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