Post-Effective
Amendment No. 3 to
SEC File No. 70-7607
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM U-l
APPLICATION
UNDER
THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 ("Act")
GPU, INC. ("GPU")
300 Madison Avenue
Morristown, New Jersey 07962
(Name of company filing this statement and address of
principal executive office)
Terrance G. Howson, Douglas E. Davidson, Esq.
Vice President and Treasurer Berlack, Israels & Liberman LLP
Mary A. Nalewako, Secretary 120 West 45th Street
Michael J. Connolly, Esq. New York, New York 10036
Vice President - Law
GPU Service, Inc.
300 Madison Avenue
Morristown, New Jersey 07962
(Names and addresses of agents for service)
<PAGE>
GPU hereby post-effectively amends its Application on Form U-1, docketed in
SEC File No. 70-7607, as follows:
By filing the following exhibit in Item 6 thereof:
H - Revised GPU Actual and Pro Forma Capitalization Table.
1
<PAGE>
SIGNATURE
PURSUANT TO THE REQUIREMENTS OF THE PUBLIC UTILITY HOLDING COMPANY ACT OF
1935, THE UNDERSIGNED COMPANY HAS DULY CAUSED THIS STATEMENT TO BE SIGNED ON ITS
BEHALF BY THE UNDERSIGNED THEREUNTO DULY AUTHORIZED.
GPU, INC.
By: /s/ T. G. Howson
-------------------------
T. G. Howson
Vice President and Treasurer
Date: July 28, 1999
2
EXHIBIT TO BE FILED BY EDGAR
H - Revised GPU Actual and Pro Forma Capitalization Table.
EXHIBIT H
SEC File No. 70-7607
CAPITALIZATION AND CAPITALIZATION RATIOS
----------------------------------------
(IN THOUSANDS)
The actual and pro forma capitalization of GPU, Inc. and Subsidiary
Companies at March 31, 1999 is as follows:
Actual Pro Forma (4)
----------------- -----------------
Amount % Amount %
---------- ---- ---------- ----
Long-term debt(1) $4 765 164 52.7 $4 765 164 52.6
Notes payable 232 378 2.6 232 378 2.6
--------- ---- -------- ----
Total debt 4 997 542 55.3 4 997 542 55.2
--------- ---- --------- ----
Preferred stock (2) 126 741 1.4 126 741 1.4
Subsidiary-obligated
mandatorily redeemable
preferred securities 330 000 3.6 330 000 3.6
Common equity 3 602 116 39.7 3 602 597 39.8 (3)
--------- ----- --------- -----
Total equity 4 058 857 44.7 4 059 338 44.8
--------- ----- --------- -----
Total capitalization $9 056 399 100.0 $9 056 880 100.0
========= ===== ========= =====
(1) Includes securities due within one year of $431,796.
(2) Includes securities due within one year of $2,500.
(3) Includes the effect of the proposed issuance of 12,900 shares, at an assumed
price of $37.31 per share, of GPU, Inc. common stock under the Restricted
Stock Plan for Outside Directors.
(4) The pro forma capitalization excludes approximately $1,034,119 of GPU's
proportionate share of non-recourse debt used to finance the acquisition of
exempt wholesale generators and foreign utility companies, as defined under
the Public Utility Holding Company Act of 1935, which debt is not
consolidated for financial reporting purposes. After giving effect to the
non-recourse debt, the pro forma percentages would be as follows: Long-term
debt 57.5%; Notes payable 2.3%; Preferred stock 1.2%; Subsidiary-obligated
mandatorily redeemable preferred securities 3.3%; and Common equity 35.7%.
