SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
NOTIFICATION OF LATE FILING
Commission File Number: 0-19596
CUSIP Number:
(Check One):
|_|Form 10-K |_|Form 20-F |_|Form 11-K |X|Form 10-Q |_|Form N-SAR
For Period Ended: for the quarter ended March 29, 1997
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: ____________________________
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Read attached instruction sheet before preparing form. Please print or type.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
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If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates: ____
PART I - REGISTRANT INFORMATION
SLM International, Inc.
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Full Name of Registrant
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Former Name if Applicable
c/o Maska U.S., Inc, 77 Route 15, Pierson Industrial Park
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Address of Principal Executive Office (Street and Number)
Bradford, VT 05033
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City, State and Zip Code
PART II - RULES 12B-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate.)
[X] (a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
[X] (b) The subject annual report, semi-annual report, transition report on
Form 10-K, 20-F, 11-K or Form N-SAR, or portion thereof, will be filed
on or before the 15th calendar day following the
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prescribed due date; or the subject quarterly report or transition
report on Form 10-Q, or portion thereof will be filed on or before the
fifth calendar day following the prescribed due date; and
[ ] (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
PART III - NARRATIVE
State below in reasonable detail the reasons why the Form 10K, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof could not be filed within the
prescribed time period. (Attach extra sheets if needed.)
The Company is unable to file its report on Form 10-K for the quarter
ended March 29, 1997 within the prescribed time period due to a delay in
finalizing the financial statements of its material subsidiaries.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Russell J. David (514) 331-5150
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of the
Securities Exchange Act of 1934 or Section 30 of the Investment Company
Act of 1940 during the preceding 12 months or for such shorter period that
the registrant was required to file such reports been filed? If the answer
is no, identify report(s).
|X| Yes |_| No
(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected
by the earnings statements to be included in the subject report or portion
thereof?
|_| Yes |X|No
If so, attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a
reasonable estimate of the results cannot be made.
See Attachment A
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SLM International, Inc.
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf
by the undersigned thereunto duly authorized.
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Date: May 14, 1997 By /s/ Russell J. David
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Name: Russell J. David
Title: Vice President - Finance
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.
ATTENTION
INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT
CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
GENERAL INSTRUCTIONS
1. This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the General
Rules and Regulations under the Securities Exchange Act of 1934.
2. One signed original and four conformed copies of this form and amendments
thereto must be completed and filed with the Securities and Exchange
Commission, Washington, D.C. 25049, in accordance with Rule 0-3 of the
General Rules and Regulations under the Act. The information contained in
or filed with the form will be made a matter of public record in the
Commission files.
3. A manually signed copy of the form and amendments thereto shall be filed
with each national securities exchange on which any class of securities of
the registrant is registered.
4. Amendments to the notifications must also be filed on Form 12b-25 but need
not restate information that has been correctly furnished. The form shall
be clearly identified as an amended notification.
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ATTACHMENT A
SLM INTERNATIONAL, INC.
FORM 12B-25
PART IV - OTHER INFORMATION
The Company has not yet finalized its financial information for the quarter
ended March 29, 1997. The Company and six of its subsidiaries filed for relief
under Chapter 11 of the United States Bankruptcy Code in the United States
Bankruptcy Court on October 24, 1995. On September 12, 1996, the Debtors filed a
Chapter 11 Plan of Reorganization and on November 13, 1996, the Debtors filed a
First Amended Chapter 11 Plan of Reorganization as amended from time to time
(the "Reorganization Plan") with the Bankruptcy Court. On January 23, 1997, the
Bankruptcy Court confirmed the Reorganization Plan which became effective on
April 11, 1997.
Based on information available from its ongoing review, the Company
currently believes that its financial reports for the quarter ended March 29,
1997 will be substantially similar to that reported for the fiscal quarter ended
March 30, 1996.
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