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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): May 11, 2000
SAFEGUARD SCIENTIFICS, INC.
(Exact Name of Registrant as Specified in its Charter)
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PENNSYLVANIA 1-5620 23-1609753
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
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800 The Safeguard Building 435 Devon Park Drive, Wayne, PA 19087
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(Address of principal executive offices) (Zip Code)
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Registrant's telephone number, including area code: (610) 293-0600
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ITEM 5. OTHER EVENTS.
On May 11, 2000, Safeguard Scientifics, Inc. ("Safeguard") announced by
a press release that its Board of Directors authorized the repurchase of up to
$100 million of Safeguard's common stock in the open market when conditions and
prices are favorable.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements.
None.
(b) Pro Forma Financial Information.
None.
(c) Exhibits
99.1 Press Release of Safeguard Scientifics, Inc. dated May
11, 2000.
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SIGNATURE
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.
Dated: May 12, 2000 SAFEGUARD SCIENTIFICS, INC.
By: /s/ N. Jeffrey Klauder
N. Jeffrey Klauder
Senior Vice President
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EXHIBIT INDEX
DOCUMENT
99.1 Press Release of Safeguard Scientifics, Inc. dated May 11, 2000
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
MEDIA CONTACT: INVESTOR RELATIONS:
Adam Castellani Sandi Murtland
Alexander Ogilvy PR Worldwide Safeguard Scientifics
404-881-2329 610-293-0600
[email protected]
SAFEGUARD ANNOUNCES AUTHORIZATION OF $100 MILLION
FOR THE REPURCHASE OF ITS STOCK
WAYNE, PA, MAY 11, 2000 -- Safeguard Scientifics, Inc. (NYSE:SFE), a leading
Internet company focused on the infrastructure market, announced today that its
Board of Directors has authorized the repurchase of up to $100 million of the
company's common stock in the open market when conditions and prices are
favorable.
Pete Musser, chairman and CEO of Safeguard, commented, "The market's
recent volatility and its impact on Safeguard has created an excellent
opportunity over the last several weeks. With this new authorization, we will be
prepared for any future market opportunities."
ABOUT SAFEGUARD (www.safeguard.com)
Safeguard is a leader in incubating and operating premier developing
technology companies in the Internet infrastructure market with a focus on three
sectors: software, communications, and eServices. Safeguard's network of
Internet infrastructure companies offers solutions, seamless connectivity, and
eServices to businesses engaged in electronic commerce.
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NOTE TO EDITORS: Safeguard is a service mark of Safeguard Scientifics, Inc.
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