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FORM 8K
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT UNDER SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) AUGUST 1, 1996
COMMISSION FILE NUMBER 1-11804
THE GEON COMPANY
(Exact name of Registrant as specified in its charter)
DELAWARE 34-1730488
(State or other jurisdiction (I.R.S. Employer Identification No.)
of incorporation or organization)
One Geon Center, Avon Lake, Ohio 44012
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (216) 930-1000
6100 Oak Tree Boulevard, Independence, Ohio 44131
(Former address of registrant) (Zip Code)
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Item 5. Other Events
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On August 1, 1996, The Geon Company announced that the Geon Board of Directors
had authorized the Company to repurchase 2.5 million shares of Geon common
stock, par value $0.10 per share. The amounted authorized represents
approximately 10 percent of Geon's outstanding shares. The timing of purchases
will depend on the price of Geon common stock and Company cash flow.
The Company in July 1996 completed a previously authorized repurchase of 2.7
million shares of Geon common stock.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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Exhibit 99, the text of The Geon Company press release dated August 1, 1996, is
fixed herewith as a part of this Report.
STATEMENT OF 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 thereunto duly authorized.
Dated August 2, 1996 THE GEON COMPANY
/s/ Gregory L. Rutman
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Gregory L. Rutman
Secretary
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EHIBIT 99
GEON ANNOUNCES NEW AUTHORIZATION TO REPURCHASE COMMON
STOCK; BOARD DECLARES QUARTERLY DIVIDEND
Cleveland, Ohio, August 1, 1996 - The Geon Company (NYSE:GON) announced today
that its Board of Directors has authorized the Company to repurchase up to 2.5
million shares of Geon common stock, par value $0.10 per share. The timing of
purchases will depend on the price of Geon common stock and Company earnings and
cash flow.
A previously authorized repurchase of 2.7 million shares was completed as of
July 31, 1996, at which time the Company had 23,937,531 shares outstanding.
The Board of Directors also declared a quarterly dividend of $0.125 per share on
Geon common stock. The dividend is payable September 16, 1996, to shareholders
of record at the close of business on August 30, 1996.
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Investor and Media Contact: Dennis Cocco
216.930.1538
Investor Contact: Tom Waltermire
216.930.1222
