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) February 1, 2000
(January 31, 2000)
Protection One, Inc. Protection One Alarm Monitoring, Inc.
(Exact Name of Registrant (Exact Name of Registrant
as Specified in Charter) as Specified in Charter)
Delaware Delaware
(State or Other Jurisdiction (State or Other Jurisdiction
of Incorporation) of Incorporation)
0-247802 33-73002-1
(Commission File Number) (Commission File Number)
93-1063818 93-1065479
(I.R.S. Employer (I.R.S. Employer
Identification No.) Identification No.)
600 Corporate Pointe, 12th Floor 600 Corporate Pointe, 12th Floor
Culver City, California 90230 Culver City, California 90230
(Address of Principal Executive (Address of Principal Executive
Offices, Including Zip Code) Offices, Including Zip Code)
(310) 342-6300 (310) 342-6300
(Registrant's Telephone Number, (Registrant's Telephone Number,
Including Area Code) Including Area Code)
<PAGE>
Item 5. Other Events
On January 31, 2000, Protection One, Inc. announced that it has received
from Westar Capital an extension of its covenant waiver, under its revolving
credit facility, until February 29.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit 99.1 - Press release dated as of January 31, 2000, issued by
Protection One, Inc.
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, each
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Protection One, Inc.
Date: February 1, 2000 By: /s/ Anthony D. Somma
Anthony D. Somma
Chief Financial Officer
Protection One Alarm Monitoring, Inc.
Date: February 1, 2000 By: /s/ Anthony D. Somma
Anthony D. Somma
Chief Financial Officer
<PAGE>
EXHIBIT INDEX
Exhibit Number Description of Exhibit
99.1 Press release dated as of
January 31, 2000 issued by
Protection One, Inc.
<PAGE>
Exhibit 99.1
PROTECTION ONE RECEIVES EXTENSION ON WAIVER FROM WESTAR CAPITAL
TOPEKA, Kansas, and CULVER CITY, California, Jan. 31, 2000 - Protection
One (NYSE:POI) today announced it has received from Westar Capital an
extension of its covenant waiver, under its revolving credit facility, until
February 29.
Westar Capital and Protection One continue to negotiate terms and
conditions of further waivers or amendments to the credit facility. The
parties also continue to negotiate Westar Capital's proposal to acquire
Protection One's European operations and the terms of any such transaction.
Westar Capital is an unregulated subsidiary of Western Resources
(NYSE:WR), which owns approximately 85 percent of Protection One.
For further discussion of Protection One's credit facility, see its
quarterly report on Form 10-Q for the quarter ended September 30, 1999, and
current reports on Form 8-K.
<PAGE>
Western Resources (NYSE: WR) is a consumer services company with
interests in monitored services and energy. The company has total assets of
more than $8 billion, including security company holdings through ownership of
Protection One (NYSE: POI), which has more than 1.6 million security customers
in North America and Europe. Its utilities, KPL and KGE, provide electric
service to approximately 614,000 customers in Kansas. Through its ownership in
ONEOK Inc. (NYSE: OKE), a Tulsa-based natural gas company, Western Resources
has a 45 percent interest in the eighth largest natural gas distribution
company in the nation, serving more than 1.4 million customers. For more
information about Western Resources and its operating companies, visit us on
the Internet at http://www.wr.com.
Protection One, one of the leading residential security alarm companies
in the United States, provides monitoring and related security services to
more than 1.6 million residential and commercial subscribers in North America
and Europe.
Forward-Looking Statements: Certain matters discussed in this news
release are "forward-looking statements." The Private Securities Litigation
Reform Act of 1995 has established that these statements qualify for safe
harbors from liability. Forward-looking statements may include words like we
"believe", "anticipate," "expect" or words of similar meaning. Forward-looking
statements describe our future plans, objectives, expectations, or goals. Such
statements address future events and conditions concerning the consummation of
the possible asset sale and credit facility described in this press release,
capital expenditures, earnings, litigation, rate and other regulatory matters,
the outcome of accounting issues being reviewed by the SEC staff, possible
corporate restructurings, mergers, acquisitions, dispositions, liquidity and
capital resources, interest and dividend rates, year 2000 issue, environmental
matters, changing weather, nuclear operations, ability to enter new markets
successfully and capitalize on growth opportunities in nonregulated
businesses, events in foreign markets in which investments have been made, and
accounting matters. Our actual results may differ materially from those
discussed here. See the company's and Protection One's 1998 Annual Report on
Form 10-K and 10K/A, quarterly reports on Forms 10-Q and current reports on
Form 8K for further discussion of factors affecting the company's and
Protection One's performance. Western Resources disclaims any obligation to
update any forward-looking statements as a result of developments occurring
after the date of this news release. Other risks and uncertainties are
described in Protection One's 1998 Form 10-K/A filed with the Securities and
Exchange Commission on Dec. 27, 1999, and quarterly reports on Form 10-Q filed
on May 17, 1999, August 16, 1999 and November 12, 1999. Protection One
disclaims any obligation to update any forward-looking statements as a result
of developments occurring after the date of this press release.
/CONTACT: Media: Michel' Philipp, [email protected], 785.575.1927, or fax:
785.575.6399, or Investors: Jim Martin, [email protected], 785.575.6549, of
fax: 785.575.8160, both of Western Resources/
/Web site:http://www.wr.com
