SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities and Exchange Act of 1934
Date of Report: December 11, 1998
BIRMINGHAM UTILITIES, INC.
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(Exact name of registrant as specified in its charter)
Connecticut
0-6028 06-0878647
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(State or other (Commission (I. R. S. Employer
jurisdiction of File Number) Identification No.)
Incorporation)
230 Beaver Street, Ansonia, CT 06401-0426
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(Address of principal executive officers) (Zip Code)
Registrant's telephone number, including area code (203) 735-1888
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(Former name or former address, if changed since last report)
Item 5. Other Events
The Registrant announced today that on December 3, 1998 it completed
the sales of 744 acres of undeveloped excess water company lands in
Oxford and Seymour, CT to the Towns of Oxford and Seymour.
The sale to the Town of Oxford consisted of 515 acres, the bulk of
which is located in Oxford. The selling price to the Town of Oxford was
$3,220,000, of which the Registrant will recognize a net gain, after
taxes and selling expenses, of approximately $1,846,000. This gain will
be shared between the Registrant's ratepayers and shareholders over a
three-year period, as approved by the CT Department of Public Utility
Control ("DPUC").
The Sale to the Town of Seymour consisted of 229 acres of undeveloped
excess water company land in Seymour for $1,800,000. The net gain of
approximately $958,000 will also be shared between Registrant's ratepayers
and shareholders over a three-year period.
The Registrant's Board of Directors on December 9, 1998 announced a
2 for 1 stock split for all outstanding shares of the Registrant's Common
Stock. The stock split is subject to approval by the DPUC and will be
effective only after the Registrant receives that approval. Registrant
expects to apply for DPUC approval by the end of the year. The DPUC must
render its decision within 30 days from receipt of the application. The
Registrant knows of no reason why the DPUC should not approve the
Registrant's proposal.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has caused the report to be signed on its behalf by the
undersigned hereunto duly authorized.
BIRMINGHAM UTILITIES, INC.
(Registrant)
Date:_____________ By: /s/
John S. Tomac
Its: President
