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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: April 25, 2000
(Date of earliest event reported)
InterTAN, Inc.
(Exact name of Registrant as specified in its charter)
Delaware 1-10062 75-2130875
(State of Incorporation) (Commission File No.) (I.R.S. Employer
Identification No.)
3300 Highway #7, Suite 904
Concord, Ontario, Canada L4K 4M3
(Address of principal executive offices) (Postal Code)
Registrant's telephone number, including area code:
(905) 760-9701
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Item 5. Other Events
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At a special meeting of the Board of Directors of the Registrant (the
"Board") held on April 25, 2000, the Board authorized, subject to regulatory
approval, the repurchase of up to 1,500,000 shares of Common Stock from time to
time either through open market purchases or through privately negotiated
transactions at prices as are determined by the Board or a Committee thereof so
designated by the Board.
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SIGNATURES
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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.
InterTAN, Inc.
May 2, 2000 By: /s/ Jeffrey A. Losch
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Jeffrey A. Losch
Vice President, Secretary and General Counsel
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INDEX TO EXHIBITS
Exhibit No. Description
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1 Copy of Press Release, released on April 27, 2000, that announces
the implementation of a stock repurchase program.
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EXHIBIT 1
[LETTERHEAD FOR INTERTAN]
NEWS RELEASE
FOR IMMEDIATE RELEASE
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James G. Gingerich
Executive Vice President and Chief Financial Officer April 27, 2000
(905) 760-9706 IT-00-018
INTERTAN , INC. ANNOUNCES FURTHER REPURCHASE PROGRAM OF UP TO 1,500,000
ADDITIONAL SHARES
TORONTO, Ontario, April 27, 2000--InterTAN, Inc. (NYSE:ITN; TSE:ITA), a leading
international consumer electronics retailer of RadioShack and internationally
branded products, today announced that it has successfully completed the
previously announced repurchase of 1,500,000 of its common shares and announced
that its Board has authorized a further program for the repurchase of up to
1,500,000 additional shares.
Purchases of common shares under the new program are dependent on market
conditions and subject to regulatory approval and will be made from time to time
on the open market through the facilities of the New York Stock Exchange or
through privately negotiated transactions.
"This additional share buyback program is yet another demonstration of the
Board's commitment to use the resources of the Company in a responsible manner
with a clear focus on enhancing shareholder value. We will continue to pursue
growth opportunities at InterTAN but, as conditions warrant, use our capital to
repurchase shares from time to time," said Ron G. Stegall, Chairman of the
Board.
The Company's earlier program to repurchase 1,500,000 shares was announced in
November, 1999. All of these shares were repurchased prior to March 31, 2000.
InterTAN, Inc operates through approximately 1,100 company retail stores and
dealer outlets in Canada and Australia under the trade names of RadioShack and
Tandy, respectively. InterTAN will announce its third quarter earnings on April
28, 2000.
Certain information disclosed in this press release, including statements
regarding the repurchase of InterTAN's common stock, constitutes forward-looking
statements that involve risks and uncertainties including, but not limited to,
cash management and regulatory risks, and other risks indicated in filings with
the Securities and Exchange Commission such as InterTAN's previously filed
periodic reports, including its Form 10-K for the 1999 fiscal year. Actual
results may materially vary.
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