FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
August 14, 1998
Date of Report
AJAY SPORTS, INC.
(Exact Name of Registrant as specified in its charter)
Delaware 0-18204 39-1644025
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(State or other (Commission (I.R.S. Employer
jurisdiction o file number) Identification Number)
incorporation or
organization)
1501 E. Wisconsin Street
Delavan, WI 53115
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (414) 728-5521
N/A
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Former name or former address, if changed from last report
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ITEM 5: Other Events
Ajay Sports, Inc. (the "Registrant") announced that its board of directors has
authorized the implementation of a 1-for-6 reverse split of the Registrant's
common stock, effective with the commencement of trading on Friday, August 14,
1998. The reverse split was approved by the stockholders of the Registrant at
the Registrant's annual meeting on May 29, 1998. Following the reverse split,
holders of the Registrant's common stock will receive one new share of $.01 par
value common stock for every six shares of common stock currently held. Current
stockholders will not be required to exchange their old certificates for a
post-split certificate, and any stockholder will receive a full share for any
fractional share that would have resulted from the 1-for-6 calculation. The
reverse split is being implemented in order to allow the Registrant to comply
with the $1.00 minimum bid price requirement of the Nasdaq SmallCap Market, at
which time the Registrant will have approximately 4,000,000 common shares
outstanding. The temporary common stock symbol will be AJAYD, signifying the
reverse split.
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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 thereunto duly authorized.
Date: June 22, 1998
AJAY SPORTS, INC.
By s\Robert R. Hebard
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Robert R. Hebard, Secretary
