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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) March 18, 1999
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CROWN PAPER CO.
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(Exact name of registrant as specified in its charter)
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<S> <C> <C>
Virginia 33-93494 54-1752385
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
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<S> <C>
300 Lakeside Drive, Oakland CA 94612-3592
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(Address of principal executive offices) (Zip Code)
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Registrant's telephone number, including area code (510) 874-3400
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Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
See exhibit 99.1 for copy of news release.
Item 7. Financial Statements and Exhibits.
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(c) Exhibits
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Exhibit No. Description
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99.1 Nasdaq National Market continues Crown Vantage listing.
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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.
CROWN PAPER CO.
March 18, 1999 /s/ Michael J. Hunter
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Michael J. Hunter
Senior Vice President, Chief Accounting
Officer
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Exhibit 99.1
[LETTERHEAD OF CROWN VANTAGE]
Nasdaq National Market Continues Crown Vantage Listing;
CVAN Must Achieve $5 Bid Price By June 18
Oakland, Calif., March 18, 1999 -- The Nasdaq Listing Qualifications Panel
today notified Crown Vantage Inc. (Nasdaq:CVAN) that the company's common stock
will continue to be listed on the National Nasdaq Market. The stock will
continue to trade on the National Market so long as a closing bid price of at
least $5.00 per share is achieved by June 18, 1999, and thereafter the stock
maintains that closing bid price for a minimum of 10 consecutive trading days.
Crown Vantage management met with the Qualifications Panel on Feb. 5, 1999,
and requested additional time to achieve share price recovery.
"This extension is very good news for Crown Vantage and its shareholders,"
said President and Chief Executive Officer Robert A. Olah. "We appreciate the
confidence that the Nasdaq Qualifications Panel has expressed in Crown by
granting us an additional ninety days in which to achieve the $5 minimum bid
price." Crown Vantage continues to meet all other listing requirements of
Nasdaq.
Crown Vantage, which had sales in 1998 of $851 million, is a manufacturer
and marketer of papers for printing, publishing and specialty packaging and
converting applications from its 10 pulp and paper mills in the United States
and Scotland. Crown Vantage information can be found on the Internet at
www.crownvantage.com.
