SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 27, 1998
THE PRODUCERS ENTERTAINMENT GROUP LTD.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-18410 95-4233050
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
5757 Wilshire Boulevard, Penthouse #1
Los Angeles, California 90036
(Address of Principal Executive Offices)
(213) 634-8634
(Registrant's Telephone Number)
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ITEM 5. OTHER EVENTS
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Reference is made to the press releases of Registrant, issued on April 27,
1998 and April 30, 1998, which contain information meeting the requirements of
this Item 5, and which are incorporated herein by this reference. A copy of
each of these press releases is attached to this Form 8-K as Exhibits 99.1 and
99.2.
<PAGE>
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.
May 5, 1998 THE PRODUCERS ENTERTAINMENT GROUP LTD.
By: /s/ Arthur Bernstein
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Arthur Bernstein
Executive Vice President and Secretary
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EXHIBIT INDEX
Exhibits
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99.1 Press Release dated April 27, 1998
99.2 Press Release dated April 30, 1998
EXHIBIT 99.1
THE PRODUCERS ENTERTAINMENT GROUP LTD. ISSUES DIVIDEND FOR QUARTER ENDING MARCH
31, 1998
Beverly Hills, CA -- April 27, 1998 -- The Board of Directors of the
Producers Entertainment Group Ltd. (NASDAQ: TPEG, BSE: TPG) declared a
quarterly dividend, payable in common stock, for the Series A Preferred Stock
in an amount of $106,250.00 for the quarter ending March 31, 1998. The
dividend will be paid on May 15, 1998 to shareholders of record at the close of
business on May 1, 1998.
The Producers Entertainment Group Ltd. is primarily engaged in the
production and distribution of long form television and episodic television
series.
The company recently completed production of the television movies
entitled "Floating Away" and "The Passion Of Ayn Rand" for Showtime Networks
and "Marabunta" for Fox Broadcasting Company.
CONTACT: Irwin Meyer
The Producers Entertainment Group
(213) 634-8634
EXHIBIT 99.2
TPEG STOCK TO COMMENCE TRADING 1 FOR 3 REVERSE STOCK SPLIT EFFECTIVE MAY 1,
1998
Los Angeles, CA -- April 30, 1998 -- The Producers Entertainment Group
Ltd. (NASDAQ: TPEG, BSE: TPG) announced today that its common stock will begin
trading on Friday, May 1, 1998, on a post-reverse-split basis of one-for-three.
No fractional shares will be issued in connection with the reverse stock
split. Shareholders will receive cash as payment for any fractional shares
otherwise issuable. The Company's transfer agent, Oxford Transfer & Registrar,
will mail stockholders instructions regarding the exchange of their existing
stock certificates for new stock certificates evidencing the post-split
shares.
The terms of exercise for all outstanding warrants to purchase common
stock will also be affected, as of the open of business on May 1, 1998, such
that the exercise price is increased threefold and the number of shares
issuable upon exercise is reduced proportionately, so that the dollar amount
payable to the company upon exercise remains the same.
The Producers Entertainment Group Ltd. is primarily engaged in the
production and distribution of long form television and episodic television
series.
The company recently completed production of the television movies
entitled "Floating Away" and "The Passion Of Ayn Rand" for Showtime Networks
and "Marabunta" for Fox Broadcasting Company.
CONTACT: Arthur Bernstein
The Producers Entertainment Group
(213) 634-8634
