U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25 NOTIFICATION OF LATE FILING
[ ] Form 10-K or Form 10-KSB [ ] Form 20-F [X] Form 11-K [ ] Form 10-Q or Form
10-QSB [ ] Form N-SAR
For Period Ended December 31, 1996
[ ] Transition Report on Form 10-K or Form 10-KSB
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q or Form 10-QSB
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:__________________________
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
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If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:______________________
Part I-Registrant Information
Full Name of Registrant Colonial Properties Trust
Former Name If Applicable______________________________________
Address of Principal Executive Office (Street and Number)
2101 Sixth Avenue North, Suite 750
City, State and Zip Code Birmingham, Alabama 35023
Part II-Rules 12b-25(b) and (c)
If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (check box if appropriate.)
[x] (a) The reasons described in reasonable detail in Part III of
this form could not be eliminated without unreasonable effort or
expense;
[x] (b) The subject annual report, semi-annual report, transition report
on Form 10-K or Form 10-KSB, Form 20-F, 11-K or Form N-SAR, or
portion thereof will be filed on or before the fifteenth calendar day
following the prescribed due date; or the subject quarterly report or
transition report on Form 10-Q or Form 10-QSB, or portion thereof
will be filed on or before the fifth calendar day following the
prescribed due date; and
[x] (c) The accountant's statement or other exhibit required by the
Rule 12b-25(c) has been attached if applicable.
Part III-Narrative
This notification of late filing has been filed due to a lack of verifiable
support from the Plan's trustee of a noncash, balance sheet adjustment to the
fair value of investments during the 1996 plan year. The Plan's trustee has
indicated that verifiable support is forthcoming.
Part IV-Other Information
(1) Name and telephone number of person to contact in regard to this
notification.
Eric Champion (205) 250-8753
Name Area Code Telephone Number
(2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment
Company Act of 1940 during the preceding 12 months or for such shorter
period that the registrant was required to file such report(s) been
filed? If answer is no identify report(s). YES
(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected
by the earnings statements to be included in the subject report or
portion thereof? NO
If so, attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
Colonial Properties Trust
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date June 30, 1997 By /s/ Douglas B. Nunnelley
- ---------------------- Douglas B. Nunnelley
Secretary
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Exhibit to Form 12b-25
In accordance with the Securities and Exchange Commission Rule 12b-25(c), if the
filing of a 1934 Act report cannot be filed timely without unreasonable effort
or expense and it relates to the inability of any person, other than the
registrant, to furnish any required opinion, report or certification, the Form
12b-25 shall have attached as an exhibit a statement signed by such person
stating the specific reasons why such person is unable to furnish the required
opinion, report or certification on or before the date such report must be
filed. This page is such an exhibit. The reason for the notification of late
filing of the Colonial Properties Trust 401(K) Profit Sharing Plan (the Plan)
for the year ended December 31, 1996 and the period from July 3, 1996 (date of
inception) to December 31, 1995 to be filed on Form 11-K, is explained in the
following paragraph.
Due to a lack of verifiable support from the Plan's trustee of a noncash,
balance sheet adjustment to the fair value of investments during the 1996 plan
year, we are currently not able to opine on the Plan's financial statements
referred to above. The Plan's trustee has indicated that verifiable support is
forthcoming.
/s/ Coopers & Lybrand L.L.P.
COOPERS & LYBRAND L.L.P.
Birmingham, Alabama
June 30, 1997
