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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) November 24, 1996
VALUE LINE, INC.
(Exact name of registrant as specified in its charter)
New York 0-11306 13-3139843
(State or other jurisdiction (Commission (IRS Employer
or incorporation) File Number) Identification No.)
220 East 42nd Street, New York, New York 10017-5891
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 212-907-1500
Not applicable
(Former name or former address, if changed since last report.)
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Item 5. Other Events. See Schedule A annexed hereto.
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.
VALUE LINE, INC.
Registrant
Date: December 9, 1996 --------------------------------------
Howard A. Brecher, Secretary
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SCHEDULE A
For Immediate Release Company Contact: Laura Rzasa
December 9, 1996 (212) 751-7126
NEW YORK - VALUE LINE, INC. (NASDAQ-VALU). Value Line, Inc. announced
today that Arnold Bernhard & Co., Inc. ("AB&Co."), the owner of approximately
80% of the outstanding common stock of Value Line, Inc., has entered into a
supplement to its agreement of November 24, 1996, which agreement, subject to
the fulfillment of a number of conditions, will result in the settlement of a
lawsuit pending in the New York State Supreme Court that seeks the dissolution
of AB&Co.
AB&Co. has conditionally agreed to ask, and use its best efforts to cause, the
Board of Directors of Value Line, Inc. to declare on December 16, 1996 an
extraordinary dividend, payable on January 2, 1997 which dividend if declared by
the Value Line Board will be payable to all Value Line shareholders. This
dividend in combination with funds otherwise available to AB&Co. will permit
AB&Co. to pay the purchase price for the shares of AB&Co. held by the Arnold Van
Hoven Bernhard family and two co-trustees of a trust of which he is the income
beneficiary. AB&Co. intends to ask the Value Line Board to declare a dividend of
approximately $14-$15 per share.
A condition to AB&Co.'s agreement to request the declaration of a dividend is
the grant by the New York State Supreme Court of a request by the parties to the
pending dissolution proceeding that such proceeding be dismissed with prejudice.
Value Line is a leading New York-based investment publishing and investment
management company. The Value Line Investment Survey is the nation's largest
independent advisory service. In addition, the Company provides other
investment-related periodicals, which are produced in both printed and
electronic form. Value Line provides investment management services to the Value
Line Family of 16 no-load mutual funds and to institutional and individual
portfolios through its asset management division.
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