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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
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Date of Report: June 13, 1997
(Date of earliest event reported: May 29, 1997)
MOBLEY ENVIRONMENTAL SERVICES, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-19497 75-2242963
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
Incorporation of organization) Identification No.)
STILLHOUSE CANYON OFFICE PARK, BLDG. ONE
4807 SPICEWOOD SPRINGS ROAD, SUITE 1245
AUSTIN, TEXAS 78759
(Address of registrant's
principal executive offices)
(512) 346-5591
(Registrant's telephone number, including area code:)
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ITEM 5. OTHER EVENTS
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On June 4, 1997, Mobley Environmental Services, Inc. (the
"Company") announced the completion of the sale of substantially all
of its remaining operating assets of its subsidiaries to United States
Filter Corporation effective May 29, 1997 in accordance with the terms
and conditions previously disclosed by the Company in its Information
Statement on Schedule 14C filed with the Securities and Exchange
Commission and mailed to shareholders on May 9, 1997.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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7(c) EXHIBITS
Exhibit 99.1: Press release dated June 4, 1997 announcing the
completion of the sale of substantially all of the
operating assets of its subsidiaries to United States
Filter Corporation.
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SIGNATURES
Pursuant to the requirement 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: June 13, 1997 MOBLEY ENVIRONMENTAL SERVICES, INC.
By: /s/ John Mobley
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John Mobley, President
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EXHIBIT 99.1
MOBLEY ENVIRONMENTAL SERVICES INC./NEWS
FOR IMMEDIATE RELEASE:
Mobley Environmental Services Contact:
John Mobley
Chairman of the Board
(512) 346-5591
MOBLEY COMPLETES ASSET SALE TO U.S. FILTER
HOUSTON, June 4, 1997 -- Mobley Environmental Services, Inc. announced
today that it had completed the sale of virtually all of its remaining
operating assets to United States Filter Corporation (NYSE: USF).
Under the terms of a definitive asset purchase agreement, the Company
received approximately 275,000 shares of U.S. Filter common stock at the
closing of the transaction, and has the right to receive additional shares of
such stock (with an aggregate exchange value of up to $4.0 million) upon the
attainment of certain financial performance goals over the next two years.
The Company subsequently sold 220,000 U.S. Filter shares and plans to use the
proceeds to retire its bank indebtedness and fund the payment of transaction
expenses and various other retained liabilities. Remaining surplus cash will
be invested in relatively low-risk, liquid investments.
U.S. Filter is one of the worlds' largest water and wastewater products
and services companies.
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