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
October 4, 1999
-------------------------
(Earliest Event Reported)
Total System Services, Inc.
---------------------------
(Exact Name of Registrant as
Specified in its Charter)
Georgia 1-10254 58-1493818
- --------- --------------- --------------
(State of (Commission File (IRS Employer
Incorporation) Number) Identification
Number)
1600 First Avenue, Columbus, Georgia 31901
-------------------------------------------
(Address of principal executive offices)
(706) 649-2267
-----------------------------
(Registrant's Telephone Number)
-----------------------------------------------------------
(Former name or former address, if changed since last report)
Item 5. Other Events.
- ------ -------------
On October 4, 1999, Total System Services, Inc. ("Registrant") announced a
plan to repurchase up to 1.5 million shares of its common stock from time to
time and at various prices over the next 24 months.
A copy of Registrant's press release regarding the announcement referenced
above is attached hereto as Exhibit 99.1 and by this reference is hereby
incorporated by reference into this Form 8-K and made a part hereof.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
- ------ -------------------------------------------------------------------
(a) Financial Statements - None.
(b) Pro Forma Financial Information - None.
(c) Exhibits
99.1 - Registrant's press release, October 4, 1999
2
Signature
----------
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, Registrant has caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TOTAL SYSTEM SERVICES, INC.
("Registrant")
Dated: October 4, 1999 By:/s/ Kathleen Moates
--------------------------- ----------------------------------
Kathleen Moates
Deputy General Counsel
4
Exhibit Index
Exhibit Number Description
- ------------- --------------
99.1 Registrant's
press release
dated October 4, 1999
5
[GRAPHIC OMITTED]
For immediate release:
Contacts:
Patrick A. Reynolds James B. Lipham
Director of Investor Relations Chief Financial Officer
(706) 649-4973 (706) 649-2262
TSYS Announces Share Repurchase
TSYS To Purchase Up To Five Percent of Outstanding Float
Columbus, Ga., Oct. 4, 1999 - Total System Services, Inc., (NYSE: "TSS") (TSYS),
today announced a plan to repurchase up to 1.5 million shares of its common
stock from time to time and at various prices over the next 24 months. Shares
repurchased could be used to fund TSYS' various stock option and other
compensation arrangements, or used for other general corporate purposes,
including potential acquisitions. The maximum of 1.5 million shares which could
be repurchased under the plan announced today represents approximately five
percent of the shares of TSYS common stock held by shareholders other than TSYS'
affiliates, including Synovus Financial Corp.
TSYS Chairman of the Board and CEO Richard W. Ussery, said "We believe
TSYS' shares represent an outstanding investment opportunity at current price
levels."
TSYS is a global processor of data, transactions and payments for credit,
debit, commercial and private-label card issuers. TSYS' sophisticated systems
offer on-line accounting, data processing, electronic commerce services,
portfolio management, account acquisition, credit evaluation, risk management
and customer service. Through our family of companies, TSYS services the entire
lifecycle of accounts, processing more than 196.7 million accounts for an
estimated 275.3 million cardholders who use their cards any time, anywhere.
Headquartered in Columbus, Ga., TSYS (www.totalsystem.com) is an 80.8 percent
owned subsidiary of Synovus Financial Corp. (NYSE: "SNV") (www.synovus.com)
named the Best Company to Work for in America by FORTUNE magazine.
-- ### --
