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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 02549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 28, 1998
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PHONETEL TECHNOLOGIES, INC.
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(Exact Name of Registrant as Specified in its Charter)
Ohio 0-16715 34-146219
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification Number)
North Point Tower, 7th Floor, 1001 Lakeside Avenue, Cleveland, Ohio 44114-1195
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, including area code (216) 241-2555
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ITEM 1. CHANGES IN CONTROL OF REGISTRANT
(a) Not applicable.
(b) On September 29, 1998, the Company received a letter from
Davel Communications Group, Inc. purporting to terminate the
Agreement and Plan of Merger and Reorganization dated June
11, 1998, between Davel Communications Group, Inc. and
PhoneTel Technologies, Inc. PhoneTel is reviewing its
alternatives and will take all appropriate action in the
best interests of the Company and its shareholders.
ITEM 5. OTHER EVENTS
On September 29, 1998, the Company was informed by the American
Stock Exchange ( AMEX) that it does not meet certain of the
AMEX's criteria for continued listing. Such criteria include
minimum levels of stockholders' equity, pre-tax income and
market price per share which, in the opinion of the AMEX, is
necessary for continued listing. Accordingly, there can be
no assurance that the Company's stock will remain listed on
the AMEX. PhoneTel is reviewing its alternatives and will
take all appropriate action in the best interests of the
Company and its shareholders.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION, AND
EXHIBITS
(c) Exhibits.
(99.1) Press Release of PhoneTel Technologies, Inc. dated
September 29, 1998.
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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 hereunto duly authorized.
PHONETEL TECHNOLOGIES, INC.
Dated: October 13, 1998 By: /s/ Tammy L. Martin
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Tammy L. Martin
Chief Administrative Officer
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Contacts: Tammy L. Martin Richard P. Kebert
Executive Vice President and Chief Financial Officer
(216) 241-2555 Chief Administrative Officer
PHONETEL INFORMED DAVEL MERGER OFF
Cleveland, Ohio - September 29, 1998 - PhoneTel Technologies, Inc. (AMEX:PHN)
announced today that it has received a letter from Davel Communications Group,
Inc. purporting to terminate the Agreement and Plan of Merger and Reorganization
between Davel Communications Group, Inc. and PhoneTel Technologies, Inc.
PhoneTel is reviewing its alternatives and will take all appropriate action in
the best interests of the Company and its shareholders.
PhoneTel also announced today that it has been informed by the American Stock
Exchange (AMEX) that it does not meet certain of the AMEX's criteria for
continued listing. Accordingly, there can be no assurance that the Company's
stock will remain listed on the AMEX.
