SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Filed pursuant to Section 13 or 15(d) of
THE SECURITIES EXCHANGE ACT OF 1934
April 28, 1995
Date of Earliest Event Reported
COMDISCO, INC.
(a Delaware Corporation)
6111 North River Road
Rosemont, Illinois 60018
Telephone (708) 698-3000
Commission file number 1-7725
I.R.S. Employer Identification Number 36-2687938
Item 5. Other Events
Comdisco, Inc. announces repurchase of $8 million of Common Stock from William
N. Pontikes and related trusts. The aggregate purchase price for the 300,000
shares is $8,220,750.00, or $27.4025 per share. This represents a negotiated
3% discount from the closing of the company's common stock on April 27, 1995.
99. Press Release announcing the repurchase of common stock.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Current Report on Form 8-K to be signed on its
behalf by the undersigned hereunto duly authorized.
COMDISCO, INC.
Date: April 28, 1995 by: /s/Philip A. Hewes
Philip A. Hewes
Senior Vice President
and Secretary
NEWS RELEASE
FOR IMMEDIATE RELEASE
COMDISCO, INC. ANNOUNCES REPURCHASE OF $8 MILLION
OF COMMON STOCK FROM WILLIAM N. PONTIKES
Rosemont, Illinois . . . April 28, 1995 . . . Comdisco, Inc. announced today
that it has repurchased 300,000 shares of its common stock from William N.
Pontikes and related trusts. Mr. Pontikes is an Executive Vice President and
a Director of the Company. The aggregate purchase price for the 300,000
shares is $8,220,750.00, or $27.4025 per share. This represents a negotiated
3% discount from the closing price of the Company's common stock on April 27,
1995. The Company said that Mr. Pontikes had informed the Company that the
purpose of the sale was for estate and tax planning purposes.
After giving effect to the repurchase, the Company has approximately 35
million shares of common stock outstanding, and William N. Pontikes and
related entities continue to hold 595,537 shares of common stock representing
approximately 2% of the outstanding common shares.
The repurchase was approved unanimously by the Company's Board of Directors
other than William N. Pontikes, who did not participate in the decision on
behalf of the Company. Prior to making its decision, the Board received the
opinion of Salomon Brothers Inc, a nationally recognized investment banking
firm, that the repurchase is fair, from a financial point of view, to the
Company.
"The repurchase of these shares from William Pontikes, at an attractive price,
is an excellent opportunity to enhance value for our shareholders and fits in
well with our ongoing share repurchase program," said Jack Slevin, President
and Chief Executive Officer of Comdisco, Inc.
Comdisco is one of the world's largest providers of solutions to help
businesses acquire, manage, and protect their high-tech equipment. Comdisco's
common stock (Symbol: CDO) is traded on the New York and Chicago Stock
Exchanges.
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Contact: Comdisco, Inc. Investor Contact Media Contact
James J. Hyland Mary Moster
708/518-5051 708/518-5147
