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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 28, 1997
GOLF-TECHNOLOGY HOLDING, INC.
(Name of Registrant as Specified in its Charter)
Idaho 0-26344 59-3303066
(State or other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
13000 Sawgrass Village Circle, Suite 30
Ponte Vedra Beach, Florida 32082
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (904) 273-8772
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ITEM 5. OTHER EVENTS.
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Mr. Vadersen, in accordance with his wishes to be relieved of the day to
day responsibilities from serving as Chief Executive Officer and President while
continuing in his capacity as Chairman of the Board and Treasurer of the
Company, has tendered his resignation as Chief Executive Officer and President
of the Company to the Board of Directors of the Company. The Board of Directors
accepted such resignation of Mr. Vadersen and elected Mr. Hutchins President of
the Company. Mr. Hutchins will also continue in his other positions as Chief
Operating Officer, Chief Financial Officer, and Secretary of the Company.
Item 7. EXHIBITS.
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(99) Press Release, dated August 28, 1997
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SIGNATURE
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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 on October 1, 1997.
GOLF-TECHNOLOGY HOLDING, INC.
By: /s/ Harold E. Hutchins
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Name: Harold E. Hutchins
Title: President, Chief Executive Officer,
Secretary, Chief Financial Officer,
Chief Operating Officer
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EXHIBIT INDEX
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(99) Company Press Release, dated August 28, 1997.
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EXHIBIT (99)
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COMPANY PRESS RELEASE
FOR IMMEDIATE RELEASE August 28, 1997
Golf-Technology Holding, Inc. Contact: Harold E. Hutchins
13000 Sawgrass Village Circle, Suite 30 President,
Ponte Verda Beach, Florida 32082 Chief Executive Officer,
Chief Operating Officer,
Chief Financial Officer
and Secretary
(904) 273-8772
HUTCHINS NAMED PRESIDENT OF GOLF-TECHNOLOGY HOLDING, INC.
D/B/A SNAKE EYES GOLF CLUBS
PONTE VEDRA BEACH, Fla.--(BUSINESS WIRE)--Aug. 28, 1997--Golf-Technology
Holding, Inc., d/b/a Snake Eyes (NASDAQ: SNKE) Thursday announced that Harold
Hutchins has been named president of the company.
He replaces Ernie Vaidersen, who will remain as Chairman of the Board. Hutchins
has served as the company's COO since November, 1996, and CFO since August,
1994.
Ernie Vadersen, chairman of the board, said "I am excited that the board of
directors accepted my recommendation to name Mr. Hutchins President, enabling me
to relinquish the day-to-day responsibilities of President and CEO so I can
concentrate on new product designs and promotion of the company." In addition
to being Chairman of the Board, Vadersen has been President and CEO of the
Company since its inception in 1993.
Snake Eye designs and manufacturers an expanding line of Tour quality golf
clubs, including wedges, putters and drivers. The company also distributes a
complete line of upscale golf apparel, bags and umbrellas.
