<PAGE> 1
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): March 8, 1996
BLUEGREEN CORPORATION
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(Exact name of registrant as specified in its charter)
Massachusetts 0-19292 03-0300793
------------- ------- ----------
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation) file number) Identification number)
5925 Town Center Road, Boca Raton, Florida 33486
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(Address of principal executive offices) (Zip Code)
407-361-2700
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(Registrant's telephone number, including area code)
Patten Corporation
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(Former name or former address, if changed since last report)
<PAGE> 2
ITEM 5. OTHER EVENTS
At a special meeting of shareholders held on February 15, 1996, Patten
Corporation (the "Company") received shareholder approval to amend the
Company's Restated Articles of Organization (the "Charter") changing its name
to Bluegreen Corporation. Articles of Amendment to the Charter were filed with
the Secretary of State of The Commonwealth of Massachusetts on March 8, 1996.
The results of voting from the special shareholders meeting is set forth below.
Shares Voted
------------
<TABLE>
<S> <C>
For................................... 15,101,509
Against............................... 453,794
Abstain............................... 179,089
Non-votes............................. 3,807,080
Shares outstanding.................... 19,541,472
</TABLE>
The Company's trading symbol on the New York Stock Exchange has been changed to
"BXG". Trading under the new symbol becomes effective March 25, 1996.
<PAGE> 3
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
Exhibit Description of Exhibit
------- ----------------------
4.1 Articles of Amendment of the Company's
Charter filed with the Secretary of State of
The Commonwealth of Massachusetts
19.1 Press Release dated March 19, 1996 announcing
effectiveness of name change
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 hereunto duly authorized.
BLUEGREEN CORPORATION
/s/ George F. Donovan
-----------------------------
Date: March 22, 1996 George F. Donovan
President and Chief Executive
Officer
/s/ Alan L. Murray
-----------------------------
Date: March 22, 1996 Alan L. Murray
Treasurer and Chief Financial
Officer
<PAGE> 1
EXHIBIT 4.1
FEDERAL IDENTIFICATION
NO. 03-0264575
The Commonwealth of Massachusetts
William Francis Galvin
Secretary of the Commonwealth
One Ashburton Place, Boston, Massachusetts 02108-1512
ARTICLES OF AMENDMENT
(General Laws, Chapter 156B, Section 72)
We, Mary Jo Wiegand , Vice President
--------------------------------------------------------
and Patrick E. Rondeau , Clerk
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of Patten Corporation
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(Exact name of corporation)
c/o Choate, Hall & Stewart, Exchange Place,
located at 53 State St. Boston, MA 02109
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(Street address of corporation in Massachusetts)
certify that these Articles of Amendment affecting acticles numbered:
1
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(Number those articles 1,2,3,4,5 and/or 6 being amended)
of the Articles of Organization were duly adopted at a meeting held February 15,
------------
1996, by vote of:
- ----
15,101,509 shares of Common Stock of 19,541,472 shares outstanding,
- ---------- ---------------------- ----------
(type, class, & series, if any)
shares of of shares outstanding,
- ---------- ----------------------- ----------
(type, class, & series, if any)
shares of of
- ---------- ---------------------- ----------- shares outstanding,
(type, class, & series, if any)
<1> **being at least a majority of each type, class, or series outstanding and
entitled to vote thereon:
Article 1 of the Restated Articles of Organization is amended to change
the name of the corporation to:
Bluegreen Corporation
*Delete the inapplicable words. **Delete the inapplicable clause.
(1) For amendments adopted pursuant to Chapter 156B, Section 70.
(2) For amendments adopted pursuant to Chapter 156B, Section 71.
Notes: If the space provided under any article or item on this form is
insufficient, additions shall be set forth on one side only of separate 8 1/2 x
11 sheets of paper with a left margin of at least 1 inch. Additions to more
than one article may be made on a single sheet so long as each article
requiring each addition is clearly indicated.
<PAGE> 2
To change the number of shares and the par value (if any) of any type, class or
series of stock which the corporation is authorized to issue, fill in the
following:
The total presently authorized is:
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------
WITHOUT PAR VALUE STOCKS WITH PAR VALUE STOCKS
- -------------------------------------------------------------------------------------------------
TYPE NUMBER OF SHARES TYPE NUMBER OF SHARES PAR VALUE
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Common: Common:
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
Preferred: Preferred:
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
</TABLE>
Change the total authorized to:
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------
WITHOUT PAR VALUE STOCKS WITH PAR VALUE STOCKS
- -------------------------------------------------------------------------------------------------
TYPE NUMBER OF SHARES TYPE NUMBER OF SHARES PAR VALUE
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Common: Common:
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
Preferred: Preferred:
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 3
The foregoing amendment(s) will become effective when these Articles of
Amendment are filed in accordance with General Laws, Chapter 156B, Section 6
unless these articles specify, in accordance with the vote adopting the
amendment, a later effective date not more than thirty days after such filing,
in which event the amendment will become effective on such later date.
Later effective date:
--------------------------
SIGNED UNDER THE PENALTIES OF PERJURY, this 27th day of February, 1996
/s/ Mary Jo Wiegand
- -------------------------------------------------------, *Vice President
Mary Jo Wiegand
/s/ Patrick E. Rondeau
- -------------------------------------------------------, *Clerk
Patrick E. Rondeau
*Delete the inapplicable words.
<PAGE> 4
THE COMMONWEALTH OF MASSACHUSETTS
ARTICLES OF AMENDMENT
(General Laws, Chapter 156B, Section 72)
========================================
I hereby approve the within Articles of
Amendment and, the filing fee in the
amount of $_______ having been paid, said
articles are deemed to have been filed
with me this ______ day of ________ 19__.
Effective date: _________________________
WILLIAM FRANCIS GALVIN
Secretary of the Commonwealth
TO BE FILLED IN BY CORPORATION
Photocopy of document to be sent to:
James W. Hackett, Jr., Esq.
c/o Choate, Hall & Stewart
Exchange Place
53 State Street
Boston, MA 02109-2891
<PAGE> 1
EXHIBIT 19.1
[BLUEGREEN LOGO]
PRESS RELEASE
Contact: Mary Jo Wiegand, Vice President
NEW TICKER SYMBOL FOR BLUEGREEN CORPORATION BECOMES EFFECTIVE MARCH 25, 1996
Boca Raton, Florida, March 19, 1996 - Bluegreen Corporation, currently
trading under "PAT" on the New York Stock Exchange, will begin trading under
the symbol "BXG" effective Monday, March 25, 1996. The new ticker follows an
announcement of a change in the Company's name from Patten Corporation to
Bluegreen Corporation. The name change became effective on March 8, 1996 when
the Company amended its charter with the Commonwealth of Massachusetts.
The new name reflects a change in the Company's strategic direction.
Known as a leading recreational land development and sales company in America
for nearly 30 years, the Company expanded its business lines to include
vacation ownership (timesharing) in 1994. The Company currently operates two
timesharing resorts in the Smoky Mountains of eastern Tennessee and has begun
development on a third in Myrtle Beach, South Carolina. Commenting on the name
change, George F. Donovan, President and Chief Executive Officer stated, "our
business is about lifestyles and the choices people make concerning where they
reside, where they relax and where they vacation. Our objective is to see
Bluegreen recognized by American households as the company that offers colorful
places to live and play". The Company is headquartered in Boca Raton, Florida
and operates in twenty-one of the United States.
xxx
