<PAGE> 1
UNITED STATES
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 (Dates of Earliest event reported) October 21, 1997
-------------------------------
EPL Technologies, Inc.
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Colorado 0-28444 84-0990658
- --------------------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation File Number) Identification No.)
2 International Plaza, Suite 245, Philadelphia, PA 19113
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (610) 521-4400
------------------------------
Not Applicable
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report.)
<PAGE> 2
ITEM 5. OTHER EVENTS
Effective October 21, 1997, EPL Technologies, Inc. ("EPL") completed a
revolving line of credit agreement with Trilon Dominion Partners LLC,
("Trilon"), EPL's largest shareholder. The line of credit, under which any
amounts drawn are secured by, amongst other things, a blanket lien on the
assets of EPL's wholly-owned US subsidiaries and on the assets of EPL itself,
makes available to EPL $2.1 million for working capital purposes. Any amounts
drawn under this line of credit are repayable on September 30, 1998, unless
repaid earlier or the repayment date is renegotiated. Interest at the "prime"
rate (as published in the Wall Street Journal) plus up to 4% is payable
quarterly in arrears. The line of credit agreement otherwise contains
covenants, representations and conditions customary in transactions of this
kind.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
a) Not Applicable
b) Not Applicable
c) Exhibits
99.1 None
-2-
<PAGE> 3
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, thereunto duly authorized.
Dated: October 24, 1997 EPL Technologies, Inc.
By: /s/ Paul L. Devine
------------------------
Paul L. Devine
Chairman and President
