UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
Commission File Number 1-4351
NOTIFICATION OF LATE FILING
(Check One): [ ] FORM 10-K and Form 10-KSB [ ] FORM 20-F
[ ] FORM 11-K
[X] FORM 10-Q and Form 10-QSB [ ] FORM N-SAR
For Period Ended: September 30, 1995
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended:
Nothing in this form shall be construed to imply that the
Commission has verified any information contained herein.
If the notification relates to a portion of the filing
checked above, identify the Item(s) to which the notification
relates: Not Applicable
Part I. Registrant Information
Full name of registrant: Southeastern Public Service
Company
Former name if applicable: Not Applicable
Address of principal executive
office (street and number): 2001 N.W. 107th Avenue
City, State and Zip Code: Miami, Florida 33172
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 appropriate box.)
[ ] (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, 20-F, 11-K or Form
N-SAR, or portion thereof will be filed on or
before the 15th calendar day following the
prescribed due date; or the subject quarterly
report or transition report on Form 10-Q, or
portion thereof will be filed on or before the
fifth calendar day following the prescribed due
date; and
[ ] (c) The accountant's statement or other exhibit
required by Rule 12b-25(c) has been attached if
applicable.
Part III. Narrative
State below in reasonable detail the reasons why Form 10-K
and Form 10-KSB, 20-F, 11-K, 10-Q and Form 10-QSB, N-SAR or the
transition report portion thereof could not be filed within the
prescribed time period. (Attach extra sheets if necessary).
The preparation of the Registrant's Quarterly Report on Form
10-Q for the quarterly period ended September 30, 1995 could not
be completed by the prescribed filing date of November 14, 1995
without unreasonable effort or expense as a result of the
following:
- The Registrant is a wholly-owned subsidiary of Triarc
Companies, Inc. ("Triarc"). Certain of Triarc's key
personnel that are integral to the completion of the
Registrant's Quarterly Report on Form 10-Q for the
quarterly period ended September 30, 1995 are also
integral to the completion of Quarterly Reports on Form
10-Q for the quarterly period ended September 30, 1995
for both Triarc and RC/Arby's Corporation ("RCAC"), a
subsidiary of Triarc. As previously reported, in July
1993, the Board of Directors of the Registrant adopted
a resolution calling for the sale or discontinuance of
substantially all of the Registrant's operating
businesses and assets, other than the Registrant's
equity interest in certain affiliates of Triarc. As of
September 30, 1995 the Registrant has completed such
sales other than for the liquidation of certain related
liabilities and the collection of certain proceeds from
such sales. As a result, the Registrant has only a few
remaining employees and the filing of the Registrant's
Form 10-Q for the quarterly period ended September 30,
1995 is principally being handled by the same Triarc
personnel who are also integral to the Triarc and RCAC
Quarterly Reports on Form 10-Q.
For the above-stated reason, the preparation of the
Registrant's Quarterly Report on Form 10-Q for the quarterly
period ended September 30, 1995, including the condensed
consolidated financial statements to be included therein, could
not be completed by the prescribed filing date of November 14,
1995 without unreasonable effort or expense.
PART IV. Other Information
(1) Name and telephone number of person to contact in
regard to this notification:
Brian L. Schorr, Esq. 212 230-3045
(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 the answer is no,
identify report(s).
[ X ] Yes [ ] No
(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?
[ X ] Yes [ ] 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.
See Annex A hereto
Southeastern Public Service Company
---------------------------------------
(Name of registrant as specified in charter)
Has caused this notification to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: November 15, 1995 By: /S/ Fred H. Schaefer
----------------------
Fred H. Schaefer
Vice President and
Chief Accounting Officer
<PAGE>
Annex A
For the reasons stated in Part III to this Form 12b-25, the
condensed consolidated financial statements for the quarter ended
September 30, 1995 have not been completed. The Registrant,
however, expects to report in its Quarterly Report on Form 10-Q a
net loss of $0.7 million for the quarter ended September 30, 1995
as compared with net income of $0.7 million for the quarter ended
September 30, 1994. Such decrease is primarily due to a decrease
in the equity in earnings from the Registrant's 50% investment in
Graniteville Company, primarily as a result of lower revenues and
decreased margins due to an increase in the cost of raw materials
which could not be fully passed on to customers in the form of
higher selling prices. Additionally, due to the June 29, 1995
merger of the Registrant's wholly-owned subsidiary, Public Gas
Company, with and into National Propane Corporation, an indirect
wholly-owned subsidiary of Triarc, in exchange for a 24.8% (24.3%
as of September 30, 1995) equity investment in National Propane
Corporation, the Registrant will no longer report any sales or
cost of sales.
