SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 1, 1999
Palomar Medical Technologies, Inc.
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(Exact Name of Registrant as Specified in Charter)
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<S> <C> <C>
Delaware 001-11177 04-3128178
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
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45 Hartwell Avenue, Lexington, Massachusetts 02421-3102
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(Address of Principal Executive Offices) (Zip Code)
781-676-7300
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Registrant's telephone number, including area code
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS.
On July 1, 1999 Palomar Medical Technologies, Inc. issued a press
release regarding the final report of the Independent Inspector of Election in
connection with the annual meeting of stockholders held on June 23, 1999. A copy
of the press release is attached hereto and incorporated by reference.
ITEM 7. EXHIBITS.
99.1 Press Release dated July 1, 1999.
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.
PALOMAR MEDICAL TECHNOLOGIES, INC.
Date: July 1, 1999
By: /s/ Louis P. Valente
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Name: Louis P. Valente
Title: President and
Chief Executive Officer
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EXHIBIT INDEX
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Exhibit No. Description
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99.1 Press Release of Palomar Medical Technologies, Inc., dated
July 1, 1999
[LOGO]
NEWS RELEASE
FOR IMMEDIATE RELEASE
CONTACTS:
John Ingoldsby or Joseph Caruso
Director of Investor Relations Chief Financial Officer
Palomar Medical Technologies, Inc. Palomar Medical Technologies, Inc.
781-402-2411 781-676-7300
PALOMAR VICTORIOUS IN PROXY CONTEST
LEXINGTON, Mass., July 1, 1999 - Palomar Medical Technologies, Inc. (NASDAQ:
PMTI), the technology leader in laser hair removal, today announced that it had
decisively defeated The Monterey Stockholders Group LLC in the proxy contest for
the election of directors. The company's announcement was based on the final,
certified report of the independent Inspector of Election from the Company's
annual meeting of stockholders held on June 23, 1999. The Monterey Group
unsuccessfully sought to replace Palomar's Board of Directors with their own
nominees.
The Inspector's final report noted that approximately 73% of the shares voted at
the meeting supported Palomar's nominees. Palomar said again that it achieved
the victory despite the actions of Monterey's members, including Mark T. Smith,
leader of Monterey, who intentionally failed to vote its own shares at the
annual meeting in an unsuccessful attempt to prevent a quorum at the meeting.
Despite Mr. Smith's machinations, he was unable to avoid conclusive and
resounding defeat at the polls.
Louis P. Valente, chairman and chief executive officer of Palomar, said, "The
final report of the Inspector of Election is clear and convincing evidence of
our stockholders' broad support for Palomar's Board of Directors, and we
appreciate their support. We look forward to now devoting all of our energies to
running our business and creating additional value for our stockholders."
Palomar Medical Technologies, Inc. is a leading supplier of proprietary laser
systems for hair removal and other cosmetic laser treatments. Hundreds of
Palomar laser hair removal systems have been installed in physician practices
worldwide, and hundreds of thousands of treatments have been performed.
(more)
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PALOMAR / 2
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
With the exception of the historical information contained in this release, the
matters described herein may contain forward-looking statements that involve
risk and uncertainties that may individually or mutually impact the matters
herein, and cause actual results, events and performance to differ materially.
These risk factors include, but are not limited to, technological difficulties,
lack of product demand and market acceptance, the effect of economic conditions,
the impact of competitive products and pricing, governmental regulations with
respect to medical devices, and/or other factors outside the control of the
company, which are detailed from time to time in the company's SEC reports,
including the report on Form 10-K for the year ended December 31, 1998. Readers
are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. The company undertakes no obligation to
release publicly the result of any revisions to these forward-looking statements
that may be made to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
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Palomar news releases are available through PR Newswire
Company News on-Call by fax at 800-758-5804,
Extension 107555, or http://www.prnewswire.com/(PMTI)
For more information about Palomar,
visit our home page at HTTP://WWW.PALMED.COM
