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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
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JUNE 14, 1996
(Date of report)
PITTENCRIEFF COMMUNICATIONS, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-21840 75-2609476
(State or other Commission (I.R.S. employer
jurisdiction of file number) identification
incorporation or no.)
organization)
1 VILLAGE DRIVE
SUITE 500
ABILENE, TEXAS 79606
(Address of principal executive offices)
(915) 690-5800
(Registrant's telephone number,
including area code)
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ITEM 5. OTHER EVENTS
In April 1996, the Federal Communications Commission ("FCC") completed its
auction of 900 MHz Specialized Mobile Radio ("SMR") channels, and the Company
was awarded a total of 18 licenses, consisting of ten 25 KHz channels each, in
the El Paso, Phoenix, Oklahoma City, and Tulsa Metropolitan Trading Areas for an
aggregate purchase price of approximately $1.6 million. The Company anticipates
that the purchase price will be paid and the licenses will be granted sometime
in June 1996.
In May 1996, the Company entered into a binding letter of intent to sell
the Company's 900 MHz SMR systems in San Diego, California, for cash
consideration. The sale is subject to execution of a definitive purchase
agreement, FCC approval, and customary closing conditions. The Company acquired
the FCC licenses and assets comprising these systems in its January 1996
acquisition of the SMR assets and operations of Advanced MobileComm, Inc., and a
number of related and unrelated companies. The Company determined to sell the
San Diego systems after assessing the results of the FCC's 900 MHz auction.
In May 1996, the Company completed the acquisition of 26 800 MHz SMR
channels in Phoenix for additional cash consideration of $1.5 million. The
acquisition, as originally structured, had an initial closing in 1994 pending
FCC approval, but the Company was relieved of its obligation to complete the
transaction because of the lack of timely FCC action. The FCC subsequently
approved the transfer of certain licenses, and the acquisition was restructured
on that basis.
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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.
PITTENCRIEFF COMMUNICATIONS, INC.
Dated: June 14, 1996 By: /s/ C.G. WHITTEN
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C.G. Whitten,
Senior Vice President,
General Counsel, and Secretary
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