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)
October 16 , 1997.
SHOPSMITH, INC.
(Exact name of registrant as specified in its
charter)
OHIO 0-9318 31-0811466
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) identification number)
6530 POE AVENUE, DAYTON, OHIO 45414
(Address of principal executive offices)
Registrant's telephone number, including area code (937) 898-6070
NOT APPLICABLE
(Former name or address, if changed since last report)
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Item 5. Other Events.
On October 16, 1997, Shopsmith, Inc. issued the following press release
announcing the approval of a share repurchase program:
SHOPSMITH DIRECTORS APPROVE REPURCHASE OF 200,000 SHARES
Dayton, OH - Shopsmith, Inc. today announced that its Board of Directors
has approved the repurchase of up to 200,000 Common Shares of the Company
in market and other transactions from time to time. Repurchase
transactions will be at the discretion of the Company.
Commenting on the repurchase program, John R. Folkerth, Shopsmith's CEO,
stated that "The repurchase program will offset in part the issuance of
shares under the Company's stock option plans."
Shopsmith currently has 2,664,375 Common Shares outstanding.
Shopsmith is a leader in the production and marketing of quality
multipurpose woodworking tools. The Company markets abut 450 products
in the U.S. through traveling demonstration and mail order sales.
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.
SHOPSMITH, INC.
Date: October 17, 1997 By /s/William C. Becker
William C. Becker
Vice President of Finance
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