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 Event: July 16, 1996
Date of Report: July 17, 1996
PLM INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of
incorporation or organization)
1-9670 94-3041257
(Commission File Number) (I.R.S. Employer Identification No.)
One Market
Steuart Street Tower, Suite 900
San Francisco, California 94105-1301
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (415) 974-1399
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ITEM 5. Other Events.
PLM International, Inc. (the "Company") announced that, pursuant to the board of
directors' authorization, it has repurchased 1.6 million shares of the Company's
common stock for $6.1 million. The shares were acquired through private
transactions at a price of $3 13/16 per share.
A copy of the press release announcing this transaction is attached as an
exhibit to this form.
Attachments:
Exhibit 1: Press release, dated July 16, 1996.
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EXHIBIT 1
Contact: Janet M. Turner
Vice President, Investor Relations
(415) 905-7214
PLM INTERNATIONAL REPURCHASES
$6.1 MILLION OF COMMON STOCK
FOR IMMEDIATE RELEASE
San Francisco, California, July 16, 1996 -- PLM International, Inc. (ASE:PLM)
announced today that, pursuant to the board of directors' authorization, it has
repurchased 1.6 million shares of the Company's common stock for $6.1 million.
The shares were acquired through private transactions at a price of $3 13/16 per
share.
These repurchases reduce the number of common shares outstanding from
approximately 10.8 million to approximately 9.2 million as of July 16, 1996. The
repurchases complete the Company's previously announced $5 million common stock
repurchase program as well as an additional $3.7 million repurchase recently
authorized by the board of directors.
PLM International President and Chief Executive Officer Robert N. Tidball said,
"The purchase of this block of common stock further reduces our outstanding
shares by approximately 15%. In conjunction with previous stock repurchases in
the last year, our outstanding shares have been reduced by more than 20%. We
believe these repurchases will benefit shareholders who maintain a long-term
interest in the Company."
PLM International is a diversified equipment leasing company providing services
to transportation, industrial, and commercial companies. With a combined owned
and managed portfolio of approximately $1.3 billion in equipment, PLM
International operates one of the twenty-five largest asset leasing pools in the
United States today. The Company specializes in creating equipment leasing
solutions for domestic and international customers.
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SIGNATURE
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.
PLM INTERNATIONAL, INC.
(Registrant)
DATE: July 17, 1996 By: /s/ Stephen Peary
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Stephen Peary
Senior Vice President
