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): August 31, 1999
SCOTT'S LIQUID GOLD-INC.
(Exact name of Registrant as specified in its charter)
Colorado 0-12343 84-0920811
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
4880 Havana Street, Denver, CO 80239
(Address of principal executive offices) (Zip Code)
Registrant's telephone number: (303) 373-4860
Item 5. Other Events.
Scott's Liquid Gold-Inc. (the "Company") does not comply with proposed
"continued listing" criteria of the New York Stock Exchange. As a result,
shares of common stock of the Company will likely be delisted from the New York
Stock Exchange. A press release concerning this delisting is attached as
Exhibit 1 to this Report and is incorporated herein by this reference.
Item 7. Financial Statements and Exhibits.
The following exhibit is filed with this Report:
Exhibit No. Document
1 Press Release of Scott's Liquid Gold-Inc. dated August 31,
1999 concerning delisting of shares
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.
Scott's Liquid Gold-Inc.
(Registrant)
Date: August 31, 1999 By: Barry Shepard, Treasurer
EXHIBIT INDEX
Exhibit No. Document
1 Press Release of Scott's Liquid Gold-Inc. dated August 31,
1999 concerning delisting of shares
EXHIBIT 1
PROPOSED NEW YORK STOCK EXCHANGE CRITERIA
FOR "CONTINUED LISTING" MAY RESULT IN DELISTING OF
SCOTT'S LIQUID GOLD SHARES
DENVER, Colorado (August 31, 1999) -- Scott's Liquid Gold-Inc. (NYSE: "SGD"),
which develops, manufactures and markets household and skin care products, today
announced that the Company does not comply with the proposed "continued listing"
criteria of the New York Stock Exchange and that its shares will likely be
delisted from the NYSE.
The New York Stock Exchange has proposed new "continued listing" requirements
which include, among other things, that a company must have a minimum net worth
of $50 million or total market capitalization of at least $50 million in order
for its shares to remain listed on the Exchange. Another proposed continued
listing requirement is that a company have a total market capitalization of not
less than $15 million. As of June 30, 1999, Scott's Liquid Gold-Inc.'s net
worth totaled $15.9 million, and the Company's total market capitalization is
currently less than $15 million. Thus, the Company is below the required
minimums under the NYSE's proposed criteria, which are awaiting final approval
by the Securities and Exchange Commission.
"Our Company has complied with the NYSE's `continued listing' requirements every
year since we were initially listed on the Exchange in 1994," commented Mark E.
Goldstein, President and Chief Executive Officer of Scott's Liquid Gold-Inc.
"As of June 30, 1999, our capital structure consisted of $6.3 million in long-
term debt and $15.9 million in shareholders' equity, which is in full compliance
with the Exchange's historical `continued listing' criteria. We are
disappointed that the Exchange has chosen to revise its criteria in a manner
that will adversely affect the listing status of many fine companies by
including a four-fold increase in the net worth requirement. If our shares are
delisted, as expected, Scott's Liquid Gold will seek a listing or trading of its
common stock on another stock exchange or public trading market."
Scott's Liquid Gold-Inc. develops, manufactures and markets high quality
household and consumer products, including Scott's Liquid Gold wood
cleaners/preservatives, Touch of Scent air fresheners, and Alpha Hydrox skin
care products. The Company is headquartered in Denver, Colorado and its common
stock is listed on the New York Stock Exchange under the ticker symbol "SGD".
Additional information on Scott's Liquid Gold-Inc. and its products can be
accessed on the World Wide Web: , , and .
For further information, please contact:
Barry Shepard or Carolyn J. Anderson at (303) 373-4860
e-mail: [email protected] or
R. Jerry Falkner, CFA, Investor Relations Counsel at (800) 377-9893 or
