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) October 13, 1995
Kinark Corporation
(Exact Name of Registrant as Specified in Charter)
Delaware 1-3920 71-0268502
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
7060 South Yale Avenue, Tulsa, Oklahoma 74136
(Address of Principal Executive Offices)(Zip Code)
Registrant's telephone number, including area code (918) 494-0964
(Former name or former address, if changed since last report)
<PAGE>
ITEM 5. OTHER EVENTS.
Kinark Corporation (the "Registrant") announced in a press release dated
October 13, 1995 that it caused Steel Partners II, L.P., to disgorge short-
swing trading profits for violating Section 16(b) of the Securities Exchange
Act of 1934.
Steel Partners II, L.P., the largest stockholder of Kinark Corporation at
the time the illegal trades took place, admitted to engaging in purchase and
sale transactions occurring within the first six months of 1995 in violation of
Section 16(b). Kinark Corporation has engaged its legal counsel to investigate
all aspects of Steel Partners II, L.P.'s trading in Company stock in order to
identify any other violations.<PAGE>
ITEM 7(C). EXHIBITS.
99.1 Press Release dated October 13, 1995 regarding Section 16(b)
violations.<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.
KINARK CORPORATION
October 13, 1995 By:
Paul R. Chastain
President and Chief Executive Officer
<PAGE>
EXHIBIT INDEX
Exhibit Number Description Page
99.1 Press Release dated October 13, 1995 regarding
Section 16(b) violations
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
CONTACT: Carolyn A. Fredrich
Kinark Corporation
(918) 494-0964
KINARK CORPORATION ANNOUNCES
RECOVERY OF SHORT-SWING TRADING PROFITS FROM
STEEL PARTNERS II, L.P. IN VIOLATION OF SECURITIES LAWS
TULSA, OKLAHOMA (October 13, 1995) -- Kinark Corporation (AMEX:KIN)
announced today that it caused Steel Partners II, L.P. to disgorge short-swing
trading profits for violations by Steel Partners II, L.P. of Section 16(b) of
the Securities Exchange Act of 1934. These violations, which occurred during
the first six months of 1995, were admitted by Steel Partners II, L.P. after
being informed by Kinark of these violations. Steel Partners II, L.P., was the
largest stockholder of Kinark at the time the illegal trades took place.
Kinark has engaged its legal counsel to investigate all aspects of Steel
Partners II, L.P.'s trading in the Company's stock in order to identify any
other violations. Paul R. Chastain, Kinark's President and Chief Executive
Officer, expressed the Company's sentiment on Steel Partners II, L.P.'s trading
violations, stating: "The Company is concerned that a significant stockholder
might be abusing its position as an insider to profit at the expense of other
stockholders of the Company. It's unfortunate that Kinark must police the
trading activities of Steel Partners II, L.P. to assure a level playing field."
Kinark Corporation, with corporate headquarters in Tulsa, provides metals
corrosion protection for industrial/commercial construction with galvanizing
plants in Denver, Houston, Louisville, Nashville, St. Louis and Hurst
(Dallas/Ft.Worth), Texas and operates chemical storage and packaging facilities
in Chicago and Montgomery, Alabama. Kinark has previously announced plans to
divest its chemical packaging operation in Montgomery.
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