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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Filed Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: November 5, 1996
JAN BELL MARKETING, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE
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(State of Incorporation)
1-9647 59-2290953
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(Commission File Number) (IRS Employment Identification No.)
13801 N.W. 14th Street, Sunrise, Florida 33323
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(Address of registrant's principal executive offices) (Zip code)
Registrant's telephone number, including area code: (954) 846-2705
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ITEM 5. OTHER EVENTS.
Attached hereto is a copy of a letter sent by Jan Bell Marketing, Inc.
to Ocean Reef Management, Inc. regarding a proposed transaction by Ocean Reef
Management, Inc. as well as a related press release issued by Jan Bell
Marketing, Inc. A copy of the press release is attached as Exhibit 99.1 and a
copy of the letter is attached as Exhibit 99.2.
ITEM 7. EXHIBITS.
Listed below are the exhibits filed as a part of this report.
99.1. Press release issued November 5, 1996.
99.2. Letter from Jan Bell Marketing, Inc. to Ocean Reef
Management, Inc.
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.
JAN BELL MARKETING, INC.
(Registrant)
By: /s/ David P. Boudreau
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David P. Boudreau
Senior Vice President of
Finance and Treasurer
Date: November 5, 1996
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JAN BELL MARKETING, INC.
PRESS RELEASE
SUNRISE, FL. November 5/BUSINESS WIRE/ -- Jan Bell Marketing, Inc.
(JBM:ASE) announced today that it had sent a letter to Ocean Reef Management,
Inc. reaffirming its willingness to respond to a meaningful proposal to acquire
the Company. The Company stated that it had not yet received "the most
rudimentary elements such a proposal would contain, including the identity of
the buyer, the proposed structure of an offer, and preliminary indications of
financing."
CONTACT: Jan Bell Marketing, Inc., Sunrise, Florida
David P. Boudreau, 954/846-2707
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[JAN BELL LETTERHEAD]
November 5, 1996
Mr. Joel Eidelstein
Ocean Reef Management, Inc.
One Turnberry Place
Suite 800
19495 Biscayne Boulevard
Aventura, Florida 33180
Gentlemen:
We are surprised by your characterization of our response to your letter as
obstructionist.
We have made clear, and continue to affirm, our willingness to respond to a
responsible proposal, and have merely requested the most rudimentary elements
such a proposal would contain, including the identity of the buyer, the
proposed structure of an offer, and preliminary indications of financing.
Your public unwillingness to share with us any of these most basic elements
leaves us suspect of the legitimacy of your offer. As we have previously
stated to you, until we can be convinced by facts, rather than feelings, that
your offer has substance behind it, we believe the most responsible course we
can take is to focus our attention on operating our business during this
critical season.
Sincerely,
/s/ Thomas Epstein
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Thomas Epstein on behalf
of the Board of Directors
13801 Northwest 14th Street, Sunrise, Florida 33323 (954) 846-8000
Fax (954) 846-2887
