FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
February 1, 1994
(Date of Report, date of earliest event reported)
KATY INDUSTRIES, INC.
(Exact name of Registrant as specified in its charter)
Delaware 1-55384 75-1277589
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) No.)
853 Dundee Avenue, Elgin, Illinois 60120
(Address of principal executive offices) (Zip Code)
(312) 697-8900
(Registrant's telephone number, including area code)
Not applicable
(Former name or address, if changed since last report)
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Item 7: Financial Statements, Pro Forma Financial Information and
Exhibits.
(c) Exhibits
Exhibit A - Press release dated January 31, 1994
<PAGE>
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.
KATY INDUSTRIES, INC.
(Registrant)
By: /s/ John R. Prann, Jr.
John R. Prann, Jr.,
President
Dated: January 31, 1994
<PAGE>
EXHIBIT A
KATY NEWS
FOR IMMEDIATE RELEASE
PRESS RELEASE
ELGIN, IL January 31, 1994 -- Katy Industries, Inc. (NYSE: KT)
announced today that its Board of Directors concluded that it was
not in the best interest of the Company and its shareholders to
continue negotiating with Steinhardt/Pensler a merger agreement
containing a dilutive option.
The Board of Directors took further action appointing
Charles W. Sahlman, Philip E. Johnson and William F. Andrews as a
committee to evaluate and recommend to the Board of Directors at a
March 8, 1994 Board of Directors meeting which of the following, a
self tender at a fixed price, a Dutch auction or a dividend of not
less than $10 per share (any one or combination of the foregoing)
that the Company should take to maximize shareholder values. No
assurance can be given as to whether or when any such action may be
taken.
Both of the foregoing actions were recommended to the
Board of Directors by the Special Committee that had been
evaluating the Steinhardt/Pensler proposal.
Katy also announced that the date for its annual meeting
of shareholders had been set for April 26, 1994 and that the record
date for such meeting had been set as March 20, 1994.
Katy Industries, Inc. is a diversified corporation with
interests in industrial machinery, industrial components and
consumer products.
Company contact:
Paul Kurowski, Corporate Secretary in Elgin at (312) 379-1121
__________________________
KATY INDUSTRIES, INC.
Headquarters
853 DUNDEE AVENUE, ELGIN, ILLINOIS 60120-3089
(708) 697-8900 - Chicago (312) 379-1121
FAX (312) 379-1130
