SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549-1004
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
October 8, 1999
Date of Report (Date of earliest event reported)
CROSSMANN COMMUNITIES, INC.
(Exact name of registrant as specified in its charter)
Indiana 33-68396 35-1880120
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification Number)
incorporation)
9210 North Meridian St. 46260
Indianapolis, Indiana (Zip Code)
(Address of principal
executive offices)
Registrant's telephone number, including area code (317) 843-9514
<PAGE>
Item 5. Other Events
At the Registrant's board of directors meeting on October 6, 1999, the
directors authorized the purchase of up to 15% of the outstanding Common
Shares of the Registrant in open market or privately negotiated
transactions in compliance with Rule 10b-18. Purchases may be made from
time to time through April 30, 2001, and the number of Common Shares
purchased, if any, will be dependent upon market conditions.
Item 7. Financial Statements and Exhibits
(a) Financial statements of businesses acquired
Not applicable
(b) Pro forma financial information
Not applicable
(c) Exhibits
A. Press Release dated October 7, 1999
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.
CROSSMANN COMMUNITIES, INC.
By: /s/ John B. Scheumann
---------------------------
Name: John B. Scheumann
---------------------------
Title: Chief Executive Officer
---------------------------
Dated: October 8, 1999
EXHIBIT A
CROSSMANN COMMUNITIES, INC. AUTHORIZES SHARE REPURCHASE PROGRAM
Indianapolis, Indiana (October 7, 1999) -- Crossmann Communities, Inc.
(NASDAQ:CROS) announced today that the Board of Directors of the Company has
authorized the purchase of up to 15% of the outstanding Common Shares of the
Company in open market or privately negotiated transactions in compliance with
Rule 10b-18. Purchases may be made from time to time through April 30, 2001, and
the number of Common Shares purchased, if any, will be dependent upon market
conditions.
John B. Scheumann, Chief Executive Officer of Crossmann Communities, Inc., said:
"We believe that our shares represent an excellent investment for the Company at
this time. We have resources that can be applied to the repurchase of the shares
without adversely affecting our other business objectives and we view this
repurchase program as an investment in our future." As of October 6th, the
Company had 11,602,385 Common Shares outstanding.
Crossmann Communities, Inc. is based in Indianapolis, Indiana and is a builder
of single family homes in the Midwest and Southeast.
For further information contact:
Jennifer A. Holihen, CFO
(317) 843-9514
