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): July 23, 1997
PLATRONICS, INC.
(Exact name of registrant as specified in its charter)
New Jersey 0-3425 22-1440857
(State or other (Commission File (IRS Employer
jurisdiction of No.) Identification
incorporation) No.)
301 Commerce Road, Linden, New Jersey 07036
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (908) 862-3600
Item 1. Changes in Control of Registrant.
On July 23, 1997 Sheridan Printing Co., Inc. ("Sheridan"),
1425 Third Avenue, Alpha, New Jersey 08865 acquired control of the
Registrant.
Sheridan acquired from July 1, 1997 to July 23, 1997, 540,500
shares of the common stock of the Registrant. 80,000 shares were
acquired on the open market through normal broker transactions.
460,500 shares were acquired in a private transaction from John R.
Palumbo, Jr., Anthony J. Palumbo III, James T. Palumbo and Jeffrey
J. Palumbo.
The total consideration paid for the foregoing shares of the
Registrant's stock was $360,800 which was paid by Sheridan from the
operations of its business.
Sheridan now owns 59.39% of the issued and outstanding shares
of the Registrant.
At a special meeting of the Board of Directors of the
Registrant held on July 23, 1997, Ronald Knigge was elected to fill
a long-standing vacancy on the Board of Directors; Jeffrey J.
Palumbo and Anthony J. Palumbo III resigned from the Board of
Directors; and Ralph J. Pocaro and Alan VanNess were elected to
replace Jeffrey J. Palumbo and Anthony J. Palumbo III as members of
the Board of Directors of the Registrant. John R. Palumbo, Jr.
continues as a member of the Board of Directors.
At that same meeting of the Board of Directors, Ronald Knigge
was elected Chairman of the Board of Directors, President and Chief
Executive Officer of the Registrant, John R. Palumbo, Jr. was
elected Vice President of the Registrant, and Mary Lou Palumbo was
elected as Secretary-Treasurer of the Registrant.
Ronald Knigge has a general understanding with Sheridan that
he will be granted stock options or other rights to acquire
twenty-five (25%) percent of the issued and outstanding stock of
the Registrant on terms which have not, as of the date of this
report, been determined.
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 hereunto duly authorized.
PLATRONICS, INC.
By RONALD KNIGGE
Ronald Knigge, Chairman,
President & Chief Executive
Officer
Date August 6, 1997
