UNITED STATES
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): May 24, 1996 (May 24, 1996)
Commission File Number 0-14695
NTS-PROPERTIES VI, A Maryland Limited Partnership
(Exact name of registrant as specified in its charter)
Maryland 61-1066060
(State or other jurisdiction of (I.R.S. Employer Identification
incorporation or organization) No.)
10172 Linn Station Road
Louisville, Kentucky 40223
(Address of principal executive (Zip Code)
offices)
Registrant's telephone number,
including area code (502) 426-4800
Not Applicable
Former name, former address and former fiscal year,
if changed since last report
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Item 5. Other Items
As of May 24, 1996, NTS-Properties VI, a Maryland Limited
Partnership, (the "Partnership") has elected to fund an additional
amount of $455,380 to its Interest Repurchase Reserve for the
second quarter of 1996. The Interest Repurchase Reserve was
originally established in 1995 pursuant to Section 16.4 of the
Partnership's Amended and Restated Agreement of Limited
Partnership. With this funding, the Partnership will be able to
purchase up to 1,821 Units at a currently contemplated price of
$250 per Unit. The Partnership intends to notify the limited
partners of the additional funding to the Interest Repurchase
Reserve and the opportunity to request that the Partnership
repurchase Units at the established price by letter dated May 24,
1996, a copy of which is attached hereto and made a part thereof.
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May 24, 1996
Dear NTS-Properties VI Investor:
On February 1, 1996, the Partnership announced the funding of an Interest
Repurchase Reserve of $474,350 under which the Partnership repurchased and
retired 1,897 Units of the Partnership at a price of $250 per Unit. The
Partnership received repurchase requests well in excess of the 1,897 Units.
The Partnership has elected to fund an additional $455,380 to the Interest
Repurchase Reserve for the second quarter 1996. With this funding, the
Partnership will be able to PURCHASE UP TO 1,821 ADDITIONAL UNITS AT A CURRENTLY
CONTEMPLATED PRICE OF $250 PER UNIT from investors who sign and return the
Repurchase Request form attached to this letter.
Units will be repurchased on a "first-come, first served" basis until the
Interest Repurchase Reserve is depleted. If the number of Units submitted for
repurchase again exceeds that which can be repurchased by the Partnership, those
additional Units may be repurchased in subsequent quarters. The Partnership may
at the discretion of the General Partner continue to set aside funds in the
Interest Repurchase Reserve.
The above offering price per Unit was established by the General Partner in its
sole discretion, and does not purport to represent the fair market value or
liquidation value of a Unit. The General Partner believes that this purchase
price represents a substantial discount from the value of each Unit and strongly
recommends to the investors that Units be held and not sold. However, there is
no guarantee of the amount that limited partners who choose not to sell will
receive upon the ultimate liquidation of the Partnership.
If you are interested in the Partnership repurchasing your Units, please sign,
date and return the enclosed Repurchase Request form, as instructed. Upon
receipt of your signed Repurchase Request, we will provide you with the
appropriate transfer form and instructions. NO TRANSFER FEES OR COMMISSIONS WILL
BE CHARGED FOR THE REPURCHASE.
You may obtain further information on the Interest Repurchase Reserve by calling
our Investor Services at (303) 705-6196.
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REPURCHASE REQUEST
For Limited Partnership Units in
NTS-Properties VI
Date:__________________
I request that NTS-Properties VI repurchase my limited partnership interest(s)
("Units") at the price of $250 per Unit, as described in the letter to me from
NTS-Properties Associates VI dated May 24, 1996 to which this Repurchase Request
is attached. AS A CONDITION TO REPURCHASE, I UNDERSTAND THAT I HEREBY WAIVE THE
PROVISIONS OF SECTION 16.4 OF THE AMENDED AND RESTATED AGREEMENT OF LIMITED
PARTNERSHIP OF NTS-PROPERTIES VI (THE "PARTNERSHIP AGREEMENT") REGARDING THE
PRICE AND TERMS OF REPURCHASE OF UNITS, AND FULLY AND FINALLY RELEASE
NTS-PROPERTIES VI AND ITS GENERAL PARTNER FROM ANY AND ALL KNOWN OR UNKNOWN
CLAIMS, LIABILITY AND ACTIONS, WHETHER ARISING UNDER OR PERTAINING TO THE
OFFERING OR PROSPECTUS FOR NTS- PROPERTIES VI, THE PARTNERSHIP AGREEMENT OR
OTHERWISE. I WILL REAFFIRM MY WAIVER AND RELEASE UPON EXECUTION OF THE TRANSFER
DOCUMENTS. PLEASE SEND ME THE APPROPRIATE TRANSFER DOCUMENTS.
I own ________ Units of NTS-Properties VI. I have read and fully understand the
foregoing.
[Each owner of the Limited Partner Units must sign below.]
- ------------------------------------ ------------------------------------
Signature of Limited Partner Signature of Limited Partner
- ------------------------------------- ------------------------------------
Printed Name Printed Name
Once completed, forward this form to: NTS-Properties VI
c/o Gemisys Corporation
7103 S. Revere Parkway
Englewood, CO 80112
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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.
NTS-PROPERTIES VI, a Maryland
Limited Partnership
(Registrant)
BY: NTS-Properties Associates VI
BY: NTS Capital Corporation,
General Partner
/s/ Gregory A. Compton
Gregory A. Compton
Senior Vice President/Secretary
Date: May 24, 1996
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