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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
Date of Report (Date of earliest event reported): August 3, 1998
CANNONDALE CORPORATION
(Exact name of registrant as specified in charter)
Delaware 0-24884 06-0871823
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification
incorporation) Number)
16 Trowbridge Drive, Bethel, Connecticut 06801
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code:
(203) 749-7000
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ITEM 5. OTHER EVENTS.
On July 31, 1998, the Board of Directors of Cannondale Corporation
(the "Company") authorized a stock repurchase program under which the Company
may repurchase up to 1,000,000 shares of its common stock. A copy of a press
release issued on August 3, 1998, relating to such stock repurchase program,
is attached hereto as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Not applicable.
(b) Not applicable.
(c) EXHIBITS
Exhibit No. Description
99.1 Press Release of Cannondale Corporation, dated August 3, 1998.
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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.
CANNONDALE CORPORATION
Registrant
Date: August 12, 1998 By: /s/ WILLIAM A. LUCA
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Name: William A. Luca
Title: Vice President of Finance,
Treasurer and Chief
Executive Officer
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EXHIBIT INDEX
Exhibit No. Exhibit
99.1 Press Release of Cannondale Corporation,
dated August 3, 1998.
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CONTACT:
WILLIAM A. LUCA
VICE PRESIDENT OF FINANCE
(203) 749-7000
FOR IMMEDIATE RELEASE
CANNONDALE CORPORATION
ANNOUNCES NEW STOCK REPURCHASE PROGRAM
Bethel, CT (August 3, 1998) -- On July 31, 1998, Cannondale Corporation's Board
of Directors authorized a new stock repurchase program by the Corporation to
repurchase up to 1,000,000 shares of its common stock. Shares repurchased under
the new program will be additional to the shares repurchased pursuant to the
repurchase program announced September 3, 1997. Purchases by the Corporation may
be made from time to time in the open market or in private transactions. The
repurchase program may be suspended or discontinued at any time. Shares
repurchased by the Corporation will be available for general corporate purposes,
including issuance upon the exercise of employee options.
Cannondale (NASDAQ: BIKE) is a leading manufacturer of high-performance aluminum
bicycles. The Company's bicycles and bicycle accessories, which include
clothing, packs and bags, bike trailers and components, are marketed under the
Cannondale brand name and "Handmade in USA" logo. Based in Bethel, Connecticut,
Cannondale operates one factory in Pennsylvania and has subsidiaries in Europe,
Japan and Australia.
