UNITED STATES
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 (Date of earliest event reported): July 15, 1999
TELECOMM INDUSTRIES CORP.
(Exact name of registrant as specified in charter)
Delaware 0-4410 34-1765902
(State or other (Commission file (IRS employer
jurisdiction of number) identification no.)
incorporation)
1743 Quincy Avenue
Naperville, Illinois 60540
(Address of principal executive office and zip code)
Registrant's telephone number, including area code: (630) 369-7111
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Item 5. Other Events
On July 15, 1999, Telecomm Industries Corp. (the "Company")
issued a press release, filed below as an exhibit hereto and
incorporated herein by reference, announcing a change in the Company's
chief executive officer.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
(99) Press Release of the Company dated July 15, 1999
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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.
TELECOMM INDUSTRIES CORP.
Date: July 26, 1999 By: /s/ Paul J. Satterthwaite
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Paul J. Satterthwaite
President and Chief Executive
Officer
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EXHIBIT INDEX
Exhibit
No. Description
------- -----------
99 Press Release of Telecomm Industries
Corp. dated July 15, 1999
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EXHIBIT 99
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PRESS RELEASE
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TELECOMM INDUSTRIES BOARD OF DIRECTORS
APPOINTS NEW CEO AND RE-ELECTS CHAIRMAN
NAPERVILLE, ILL.--July 15, 1999--Telecomm Industries Corp. (OTC
BB:TCMM) announced that Chairman and Chief Executive Officer James
Lowery will step down as chief executive officer but continue to serve
the company as chairman of the board.
Lowrey will focus all of his efforts on the future strategic
direction of the company in the rapidly changing communications arena.
Lowery, who has over 20 years experience in the communications
industry commented, "There is so much opportunity in the marketplace,
I can better serve our shareholders in this new role, as well as
generate substantial opportunity for the company. We have just
finished a very profitable second quarter, which enables me to spend
more time on new business opportunities. One example of these new
opportunities is the Ameritech/SBC merger, where we must spend
significant time and energy establishing a presence in the SBC
states."
Paul J. Satterthwaite, who currently serves as a director,
secretary and vice-president of the company, has been named chief
executive officer, reporting to Lowery and the rest of the board.
Satterthwaite commented, "I am very pleased to be trusted with this
responsibility. I am confident in not only my own abilities, but also
in the skills of those around me. I look towards a bright and
profitable future for Telecomm Industries."
Telecomm Industries Corp. is one of the nation's largest
distributors of voice and data services for Ameritech, BellSouth and
GTE. Telecomm combines these services with products from world class
manufacturers to provide single source telecommunications and
computing solutions to its business customers. Telecomm Industries
specializes in being the single provider of the customer's total
communication needs.
Certain statements contained in this report that are not
historical facts are forward-looking statements that are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those set forth in the forward-looking
statements. Reference is made to the company's filings with the
Securities and Exchange Commission, including the company's annual
report for fiscal 1998 on Form 10-KSB and the company's quarterly
report for the first quarter of 1999 on Form 10-QSB. Investors should
read this release in conjunction with these filings for a description
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of these and other factors that could cause actual results to differ
materially from those in the forward-looking statements.
CONTACT:
TELECOMM INDUSTRIES CORP.
DAVE GRUBER, 330/963-0566
