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 (date of earliest event reported) December 14, 1999
LASER MASTER INTERNATIONAL, INC.
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(Exact name of Registrant as specified in its Charter)
New York
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(State or other jurisdiction of incorporation)
2-76262-NY 11-2564587
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Commission File No. I.R.S. Employer Identification Number
1000 First Street, Harrison, NJ 07029
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Address of principal executive Office Zip Code
(973) 482-7200
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Registrant's telephone number, including area code
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ITEM 5. OTHER EVENTS
The Board of Directors of the Registrant (the "Company"),on December
14, 1999, announced that it had resolved to re-purchase up to $500,000 of the
Company's Common Stock, subject to all applicable Securities and Exchange
Commission and NASDAQ Regulations with respect to the re-purchase of Common
Stock of the Company.
In that regard, the Company issued a Press Release concerning its
intent to repurchase its shares. Annexed, as Exhibit 1, is a copy of the Press
Release.
The shares repurchased by the Company may be used by the Company for
Employee Stock Options and/or Stock Option Plans, or Treasury Stock.
EXHIBITS
1. Copy of Press Release.
SIGNATURES
Pursuant to the requirements of the SEC Act of 1934, the Registrant has
duly caused this Report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated: Harrison, New Jersey
December 24, 1999
LASER MASTER INTERNATIONAL, INC.
(Registrant)
/s/ Mendel Klein
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MENDEL KLEIN
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Laser Master International, Inc. Announces Plans to Repurchase Stock
Harrison, N.J. (BUSINESS WIRE) - December 13, 1999 - Laser Master International
Inc. (NASDAQ: BB, LMTI) today announced that it's Board of Directors has
approved the repurchase of up to $500,000 of the Company's outstanding common
stock. The plan, will allow Laser Master to use available cash to buy back its
shares in open market transactions from time to time, subject to price and
market conditions. The Board authorized the plan to be effective for a period of
six months.
"We believe the decision to begin the share repurchase program will benefit our
shareholders and employees," said Laser Master President, Abraham Klein. "We
have sufficient cash to acquire our shares without affecting the Company's
financial strength, and we view this program as a confirmation of our belief in
the long term value of the Company."
Shares repurchased by the Company may be used for the issuance of shares under
the Laser Master employee stock option and stock purchase plans, Klein said.
This release contains forward looking statements that involve risks and
uncertainties. These statements may differ materially from actual future events
or results. Readers are referred to documents files by LMTI with the U.S.
Securities and Exchange Commission.
Contact:
Laser Master International Inc.
Stephen Strauhs, Investor Contact, 914-359-4104
