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 Report: June 21, 1996
PRINS RECYCLING CORP.
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(Exact name of registrant as specified in its charter)
NEW YORK
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(State of Incorporation)
0-21436 11-2929211
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(Commission File Number) (IRS Employer ID Number)
400 Kelby Street, 6th Floor, Fort Lee, New Jersey 07024
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(Address of principal executive offices)
Registrant's telephone number, including area code: (201) 886-1600
This report consists of 4 pages.
Exhibit index appears on page 2.
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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.
PRINS RECYCLING CORP., a New York corporation
By: /s/ CLIFFORD H. STRAUB, JR.
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Clifford H. Straub, Jr.
Chief Financial Officer
Dated: June 21, 1996
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Item 5. Other Events
Prins Recycling Corp. announced that two members of its Board of Directors,
C. Clarke Ambrose and James C. Gale, have resigned.
Item 7. Exhibits
Exhibit 28.1 -- Press release dated and released June 19, 1996.
FOR IMMEDIATE RELEASE: June 19, 1996
Contact: Lee Feldman, V.P. & General Counsel, Prins Recycling Corp.,
tel: (201) 886-1600
Hal Levine/Marty Cohen The Levine Group, tel: (212) 682-8875
PRINS RECYCLING CORP. ANNOUNCES RESIGNATION OF DIRECTORS
Fort Lee, New Jersey -- Prins Recycling Corp. (NASDAQ:PRNS) announced today
that two members of its Board of Directors, Clarke Ambrose and James Gale, have
resigned.
As previously set forth in the Company's first quarter Form 10-QSB for the
period ended March 31, 1996, the Company is in need of additional capital. As of
today, the Company continues to operate at a loss and has been unable to
finalize a strategic relationship or secure additional financing. Although the
Company is exploring certain alternatives, there can be no assurance that a
transaction can be concluded by the Company on terms and within a time period
satisfactory to the Company.
Prins Recycling Corp. is a recycling firm with processing facilities
located in Illinois, Maryland, Massachusetts, Pennsylvania and New Jersey.
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