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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): September 24, 1997
THE COAST DISTRIBUTION SYSTEM
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(Exact Name of Registrant as Specified in Charter)
CALIFORNIA 1-9511 94-2490990
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation or organization) File Number) Identification Number)
1982 ZANKER ROAD, SAN JOSE, CALIFORNIA 95112
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (408) 436-8611
Not Applicable
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(Former Name or Former Address if Changed Since Last Report)
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ITEM 5. OTHER EVENTS.
On September 24, 1997, the Registrant, which owned approximately 35% of
the outstanding shares of capital stock (the "Shares") of H. Burden Limited, a
company organized under the laws of the United Kingdom ("Burden"), sold all of
those Shares to Unipart Group Limited, a company organized under the laws of the
United Kingdom ("Unipart" or the "Purchaser") which also acquired the shares of
Burden capital stock owned by Burden's other shareholders. The Registrant
received a purchase price for its Burden Shares of $4,500,000, of which
$4,100,000 was paid in cash. The remaining $400,000 of the purchase price was
placed in an escrow pending resolution of certain contingencies with respect to
Burden.
The Registrant's investment in Burden was carried on its books, for
financial reporting purposes, at approximately $5,100,000, which represents the
sum of the prices that the Registrant paid for its Burden Shares and
Registrant's proportionate share of the cumulative earnings of Burden during
the period that the Burden Shares were owned by the Registrant. As a result,
the Registrant expects to report, for financial reporting purposes, a loss on
the sale of its Burden Shares, the amount of which cannot yet be determined as
this will be affected by the amount of the taxes that become payable by
Registrant in respect of such sale.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Financial Statements
Not Applicable
(b) Pro Forma Financial Statements
Not Applicable
(c) Exhibits
None
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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 thereunto duly authorized.
Dated: October 7, 1997 THE COAST DISTRIBUTION SYSTEM
By: /s/ SANDRA A. KNELL
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Sandra A. Knell
Executive Vice President
and Chief Executive Officer
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