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
June 2, 1997
Date of Report (Date of earliest event reported)
PRIME MOTOR INNS LIMITED PARTNERSHIP
(Exact name of registrant as specified in its charter)
Delaware 1-9311 22-2754689
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
c/o WHI
4243 Hunt Road
Cincinnati, Ohio 45242
(Address of principal offices, including zip code)
(513) 891-2920
(Registrant's telephone number, including area code)
Item 5. Other Events
The attached are Exhibits to the Form 8-K, which are Press Releases
distributed on May 30, 1997 by the New York Stock Exchange and the Registrant.
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.
PRIME MOTOR INNS LIMITED PARTNERSHIP
(REGISTRANT)
By: Prime-American Realty Corp.
General Partner
Date: June 2, 1997 By: /s/ S. Leonard Okin
S. Leonard Okin
Vice President
GLEN ROCK, NEW JERSEY, May 30 - Prime Motor Inns Limited Partnership announced
today that in has been advised by the New York Stock Exchange that trading in
the Partnership's units of limited partnership interest on the New York Stock
Exchange will cease after Thursday June 19, 1997. The Partnership's units
are being delisted by the New York Stock Exchange because the Partnership does
not meet the Exchange's continued listing requirements based on, among other
things, net income and market value of all outstanding Partnership units.
Prime Motor Inns Limited Partnership is actively exploring the possibility of
listing the Partnership units for trading on another securities exchange.
May 30, 1997
NEW YORK STOCK EXCHANGE TO SUSPEND, DELIST
PRIME MOTOR INNS LIMITED PARTNERSHIP
New York, May 30 - The New York Stock Exchange announced today that trading in
the units of limited partnership interests in Prime Motor Inns L.P. - ticker
symbol PMP - will be suspended before the opening of trading on Friday, June
20, 1997 or such earlier date as PMP commences trading in another securities
marketplace, or information is received that PMP does not meet the listing
requirements of the other securities marketplace. The Partnership has
advised the NYSE that it is seeking to transfer the trading of its units to
another securities marketplace. Following suspension, application will be
made to the Securities and Exchange Commission to delist the issue.
The NYSE's action is based on the fact that the Partnership falls below the
NYSE's continued listing criteria related to: net tangible assets available
to common stock (less than $12 million) and average net income for the last
three years (less than $600,000); aggregate market value of all outstanding
shares of common stock (less than $12 million) and average net income for the
last three years (less than $600,000); and aggregate market value of publicly
held shares (less than $8 million).
The NYSE noted that in may, at any time, suspend a security if it believes
that continued dealings in the security on the NYSE are not advisable.
