Greka Energy Corp – ‘8-K’ for 7/25/03

On:  Tuesday, 7/29/03, at 10:09am ET   ·   For:  7/25/03   ·   Accession #:  1050502-3-560   ·   File #:  0-20760

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         2±    10K 
 2: EX-99.1     Press Release                                          2±     9K 

8-K   —   Current Report
Document Table of Contents

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): July 25, 2003                 

GREKA Energy Corporation
(Exact name of registrant as specified in its charter)

Colorado                               0-20760               84-1091986         
(State or other jurisdiction           (Commission           (IRS Employer      
of incorporation)                      File Number)          Identification No.)

630 Fifth Avenue, Suite 1501, New York, NY                     10111            
(Address of principal executive offices)                     (Zip Code)         

Registrant's telephone number, including area code: (212) 218-4680              

Item 5. Other Events.                                                           

  Greka Energy Corporation ("Greka" or the "Company") announced that, at a
special meeting of the shareholders of the Company held on July 25, 2003, a     
majority of the shareholders adopted the merger agreement dated as of May 27,   
2003 between the Company, Alexi Holdings Limited, and Alexi Corporation and     
approved the merger of Alexi Corporation with and into Greka. Alexi Corporation 
is a wholly-owned subsidiary of Alexi Holdings Limited which, for purposes of   
effecting the merger, was incorporated by Randeep S. Grewal, Greka's Chairman,  
CEO & President. Under the terms of the merger, Alexi Holdings Limited will     
acquire all of Greka's outstanding shares not already owned for a price of $6.25
per share payable in cash.                                                      

  The $6.25 per share cash consideration represents a 69% premium over the
$3.70 closing price for Greka's stock on May 19, 2003, the last full trading day
prior to Greka's announcement of Mr. Grewal's indication that he was evaluating 
a "going private" transaction. CIBC World Markets Corp., the independent        
financial advisor to the Company's special committee consisting of independent  
directors, rendered a fairness opinion to the special committee.                

 The closing should occur promptly following the satisfaction of all the
conditions in the merger agreement. Thereafter, it is expected that the shares  
of common stock of Greka will be delisted from trading on the NASDAQ and        
deregistered with the Securities and Exchange Commission.                       

  The press release announcing the shareholders' approval of the merger is
filed as Exhibit 99.1 hereto.                                                   

Item 7. Financial Statements and Exhibits.                                      
(a)  The following exhibits are furnished as part of this report:     
Exhibit 99.1 Press Release dated July 28, 2003              

 SIGNATURE

  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.                                           

Date: July 28, 2003                 GREKA ENERGY CORPORATION                    

                  By:  /s/ Randeep S. Grewal
                                     ---------------------------------------
                                Randeep S. Grewal, Chairman, Chief
                             Executive Officer and President

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing		Date		Other Filings
Filed on:		7/29/03
		7/28/03
For Period End:		7/25/03		DEF 14A
		5/27/03		8-K
		5/19/03		8-K
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