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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: May 4, 1998 Commission File Number 0-4539
TRANS-INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
Delaware 13-2598139
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
2637 S. Adams Road, Rochester Hills, MI 48309
(Address of principal executive offices) (Zip Code)
(248) 852-1990
(Registrant's telephone number, including area code)
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Item 5. OTHER EVENTS.
On May 4, 1998 Trans-Industries, Inc. announced that the Company's
Board of Directors has declared a special dividend of $0.10 per share.
The special dividend payment date is May 22, 1998 and is payable to
shareholders of record on May 18, 1998. Trans-Industries, Inc. has 3,074,400
common shares outstanding.
The Board declared the special dividend in conjunction with a
previously announced U.S. District Court decision. The decision let stand
essentially unmodified a prior damage award for approximately $3.0 million,
which had been appealed by the defendant. The defendant, however, has decided
to appeal the interest calculation on the damage award as determined by the
court, which was approximately $1.1 million.
The net proceeds from the award, excluding interest as well as taxes
and certain contingent legal fees related to the lawsuit, totaled approximately
$1.6 million and represent a one time gain of $0.53 per basic share, including
the funds allocated for payment of the dividend. The Company received the
payment of the damage award on May 1, 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 thereunto duly authorized.
TRANS-INDUSTRIES, INC.
Date: 5/4/98 Kai Kosanke
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Kai Kosanke, Treasurer
and Chief Financial Officer
Date: 5/4/98 Paul Clemo
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Paul Clemo
Assistant Treasurer
