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) February 1, 1996
(December 31, 1995)
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
<PAGE>
Item 5. Other Items
As of December 31, 1995, NTS-Properties VI, a Maryland Limited
Partnership (the "Partnership") established an Interest Repurchase
Reserve pursuant to Section 16.4 of the Partnership's Amended and
Restated Agreement of Limited Partnership. Under Section 16.4,
limited partners may request the Partnership to repurchase their
respective interests (Units) in the Partnership. The Partnership
has notified the limited partners of the establishment of the
Interest Repurchase Reserve and the opportunity to request that
the Partnership repurchase Units at the established price pursuant
to that certain letter to limited partners dated February 1, 1996,
a copy of which is attached hereto and made a part hereof.
<PAGE>
February 1, 1996
Dear NTS-Properties VI Investor:
Over the last few years, a small market has developed for the trading of
limited partnership interests through companies such as the Chicago
Partnership Board. Units in our and other NTS Partnerships have transferred
at values which the General Partner believes to be discounted. Although the
General Partner continues to strongly recommend that our investors hold
their Units rather than sell, we do recognize that circumstances may arise
from which an investor may feel compelled to sell his or her Units. As a
result, in our cash distribution mailings we included a list of some of the
companies which have indicated to us that they arrange trades of NTS
Partnership Units.
In the interest of helping to establish a "floor" or minimum price for
trades in NTS-Properties VI Units, the Partnership has established an
Interest Repurchase Reserve in the amount of $474,350 pursuant to Section
16.4 of the Partnership's Limited Partnership Agreement. Under this Section
of the Partnership Agreement, the Partnership may repurchase Units from
investors who indicate in writing their desire to sell. With this
Repurchase Reserve, the Partnership will be able to repurchase and retire
up to 1,897 Units at a currently contemplated price of $250 per Unit. Since
the repurchased Units will be retired, there will be fewer investors for the
distribution of assets.
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 exceeds that which can be repurchased by the Partnership in
the first quarter, 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 repurchase 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 discount from the value of each Unit.
However, there is no guarantee of the amount that limited partners who
choose not to sell their Units 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 in the envelope
provided. Upon receipt of your signed Repurchase Request form, we will
provide you with transfer documents and appropriate instructions. Payment
for repurchased Units will be made within 10 days after you have returned
the properly executed transfer documents. No transfer fees or commissions
will be charged for the repurchase. You may obtain further information on
the Interest Repurchase Reserve by calling our transfer agent at (303) 705-6196.
<PAGE>
REPURCHASE REQUEST
FOR LIMITED PARTNERSHIP UNITS IN
NTS-Properties VI
Date:___________
I request that NTS-Properties VI repurchase my limited partnership interests
("Units") at the price of $250 per Unit, as described in the letter to me
from NTS Properties Associates dated February 1, 1996 to which this
Repurchase Request was 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
(Joint Accounts)
_________________________________ __________________________________
Printed Name Printed Name
<PAGE>
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/ John W. Hampton
John W. Hampton
Senior Vice President
Date: February 1, 1996
