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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): December 5, 1997
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Banyan Systems Incorporated
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(Exact Name of Registrant as Specified in Its Charter)
Massachusetts
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(State or Other Jurisdiction of Incorporation)
0-20364 04-2798394
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(Commission File Number) (I.R.S. Employer Identification No.)
120 Flanders Road, Westboro, MA 01581
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(Address of Principal Executive Offices) (Zip Code)
(508) 898-1000
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS.
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Banyan Systems Incorporated, a Massachusetts corporation (the "Company"),
has been in discussions with The Nasdaq Stock Market, Inc. ("Nasdaq") concerning
the continued listing of the Company's Common Stock on the Nasdaq National
Market ("NNM"). Nasdaq has granted the Company an exception with respect to the
Company's failure to comply with the NNM continued listing criteria as of June
30, 1997 and informed the Company that its Common Stock can remain listed on
NNM, provided that, on or before January 31, 1998, the Company must make a
public filing with the Securities and Exchange Commission and Nasdaq evidencing
a minimum of $5 million in net tangible assets and must demonstrate compliance
with all NNM requirements for continued listing. There can be no assurance that
the Company's efforts to satisfy these requirements will be successful. The
delisting of the Company's Common Stock from NNM may adversely affect the
liquidity of the Company's Common Stock.
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SIGNATURE
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.
Date: December 5, 1997 BANYAN SYSTEMS INCORPORATED
By: /s/ Richard M. Spaulding
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Richard M. Spaulding
Vice President, Treasurer and
Chief Financial Officer
