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) January 26, 2000
(January 25, 2000)
WESTERN RESOURCES, INC.
(Exact Name of Registrant as Specified in Its Charter)
KANSAS 1-3523 48-0290150
(State or Other Jurisdiction of (Commission (Employer
Incorporation or Organization) File Number) Identification No.)
818 KANSAS AVENUE, TOPEKA, KANSAS 66612
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number Including Area Code (785) 575-6300
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WESTERN RESOURCES, INC.
Item 5. Other Events
On January 25, 2000, Western Resources announced that it has reached an
agreement with it banks under its credit facilities to eliminate the cross-
default provisions relating to Protection One, Inc. and its subsidiaries.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit 99.1 - Press release dated as of January 25, 2000 issued by
Western Resources, Inc.
<PAGE>
SIGNATURE
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 thereunto duly authorized.
Western Resources, Inc.
Date January 26, 2000 By /s/ William B. Moore
William B. Moore, Executive Vice
President, Chief Financial
Officer and Treasurer
Date January 26, 2000 By /s/ Leroy P. Wages
Leroy P. Wages, Controller
<PAGE>
EXHIBIT INDEX
Exhibit Number Description of Exhibit
99.1 Press release dated as of
January 25, 2000 issued by
Western Resources, Inc.
Exhibit 99.1
WESTERN RESOURCES REACHES AGREEMENT
ELIMINATING CROSS-DEFAULT
TOPEKA, Kansas, January 25, 2000 - Western Resources (NYSE:WR) today
announced that it has reached an agreement with its banks under its credit
facilities to eliminate the cross-default provisions relating to Protection
One, Inc. and its subsidiaries.
Under the cross-default, activities of Protection One (NYSE:POI) could
have resulted in a default of Western Resources under its credit facilities.
Those cross-default provisions have been eliminated, provided Western
Resources does not increase its investments in Protection One by more than
$225 million. Under this change, any default by Protection One would not
result in a default by Western Resources under its credit facilities.
Western Resources (NYSE: WR) is a consumer services company with
interests in monitored services and energy. The company has total assets of
more than $8 billion, including security company holdings through ownership of
Protection One (NYSE: POI), which has more than 1.6 million security customers
in 48 states and Europe. Its utilities, KPL and KGE, provide electric service
to approximately 614,000 customers in Kansas. Through its ownership in ONEOK
Inc. (NYSE: OKE), a Tulsa-based natural gas company, Western Resources has a
45 percent interest in the eighth largest natural gas distribution company in
the nation, serving more than 1.4 million customers. For more information
about Western Resources and its operating companies, visit us on the Internet
at http://www.wr.com.
Forward-Looking Statements: Certain matters discussed in this news
release are "forward-looking statements." The Private Securities Litigation
Reform Act of 1995 has established that these statements qualify for safe
harbors from liability. Forward-looking statements may include words like we
"believe", "anticipate," "expect" or words of similar meaning. Forward-looking
statements describe our future plans, objectives, expectations, or goals. Such
statements address future events and conditions concerning capital
expenditures, earnings, litigation, rate and other regulatory matters, the
outcome of Protection One accounting issues being reviewed by the SEC staff,
possible corporate restructurings, mergers, acquisitions, dispositions,
liquidity and capital resources, interest and dividend rates, environmental
matters, changing weather, nuclear operations, ability to enter new markets
successfully and capitalize on growth opportunities in nonregulated
businesses, events in foreign markets in which investments have been made, and
accounting matters. Our actual results may differ materially from those
discussed here. See the company's and Protection One's 1998 Annual Report on
Form 10-K and 10K/A, quarterly reports on Forms 10-Q and current reports on
Form 8K for further discussion of factors affecting the company's and
Protection One's performance. Western Resources disclaims any obligation to
update any forward-looking statements as a result of developments occurring
after the date of this news release.
/CONTACT: Media: Michel' Philipp, [email protected], 785.575.1927, or fax:
785.575.6399, or Investors: Jim Martin, [email protected], 785.575.6549, or
fax: 785.575.8160, both of Western Resources/
/Web site:http://www.wr.com
