FORM 8-K
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
June 3, 1996
Date of Report
(Date of earliest event reported)
BIOJECT MEDICAL TECHNOLOGIES INC.
(Exact name of registrant as specified in its charter)
Oregon 0-15360
(State or other jurisdiction (Commission File No.)
of incorporation or organization)
93-1099680
(I.R.S. Employer I.D. No.)
7620 S.W. Bridgeport Road
Portland, Oregon
(Address of principal executive offices)
97224
(Zip Code)
(503) 639-7221
(Registrant's telephone number including area code)
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Item 5. OTHER EVENTS
On June 3, 1996, the British Columbia Securities Commission informed the
Company that its Executive Director (formerly the Superintendent of Brokers)
has consented to the release of all shares originally held in escrow pursuant
to an escrow agreement dated May 30, 1986. This means that the 1,500,000
shares of common stock which had been held under this escrow arrangement
since the Company's initial public offering in July 1986 are now held by the
owners of the shares without risk of cancellation and may be sold. As of
the day preceding the date of this filing, no sales or transfers of these
shares had been recorded by the Company's transfer agent.
As previously disclosed in the Company's annual reports and proxy statements,
a non cash charge to compensation expense is required to be recorded for
approximately 150,000 of the shares being released from the escrow account.
Accordingly, a non cash charge of $210,938 (or $0.01 per outstanding share of
common stock) will be recorded in the financial statements in the first
quarter of fiscal 1997 (quarter ending June 30, 1996).
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.
DATED this 6th day of June, 1996.
BIOJECT MEDICAL TECHNOLOGIES INC.
By /s/ Peggy J. Miller
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Peggy J. Miller
Vice President,
Chief Financial Officer
and Secretary
