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
July 30, 1999 (July 29, 1999) Date of Report (Date of
earliest event reported)
Safety-Kleen Corp.
(Exact name of registrant as specified in its charter)
Delaware 1-8368 51-0228924
(State or other (Commission (IRS Employer
jurisdiction File Number) Identification
of incorporation) Number)
1301 Gervais Street, Columbia, South Carolina 29201
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (803)933-4200
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ITEM 5. OTHER EVENTS
On July 29, 1999, Safety-Kleen Corp.(NYSE:SK) announced that it will
hold a special meeting of shareholders on August 27, 1999, in order to approve
the issuance of approximately 11.3 million Safety-Kleen common shares to Laidlaw
Inc. or its designee in connection with its previously announced agreement to
purchase its outstanding $350 million 5% subordinated convertible pay-in-kind
debenture from Laidlaw Inc. for $200 million in cash and 11,320,755 shares of
Safety-Kleen common stock. The full text of the announcement is reproduced
below.
FOR IMMEDIATE RELEASE
SAFETY-KLEEN
SETS AUGUST 29, 1999 MEETING DATE
FOR PIK REPURCHASE SHARE ISSUANCE
Columbia, S.C.--July 29, 1999--Safety-Kleen Corp. (NYSE: SK) announced today
that it will hold a special meeting of shareholders on August 27, 1999, in order
to approve the issuance of approximately 11.3 million Safety-Kleen common shares
to Laidlaw Inc. or its designee, which issuance of shares form part of the
consideration for the previously announced repurchase of the outstanding $350
million 5% subordinated convertible pay-in-kind debenture (the "PIK Debenture").
The record date of July 19, 1999 was set earlier by the Company.
The required clearance has been received from the Securities and Exchange
Commission for the Company to file a definitive Proxy Statement seeking
shareholder approval of the issuance of the shares. Proxy materials are expected
to be mailed on July 30, 1999. With shareholder approval for the issuance of the
required shares, the repurchase of the PIK Debenture is expected to be complete
by August 31, 1999.
FOR FURTHER INFORMATION CONTACT:
Kenneth W. Winger, President and Chief Executive Officer - (803) 933-4212
Paul R. Humphreys, Senior Vice President, Finance and Chief Financial Officer -
(803) 933-4261
Safety-Kleen Investor Relations - (803) 933-4285
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Company has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SAFETY-KLEEN CORP.
By: /S/ Kenneth W. Winger
----------------------------
Kenneth W. Winger, President
and Chief Executive Officer
Date: July 30, 1999
