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American Pad & Paper Co · 8-K · For 1/22/99

Filed On 1/22/99   ·   Accession Number 5588-99-2   ·   SEC File 1-11803

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  As Of                Filer                Filing    For/On/As Docs:Size

 1/22/99  American Pad & Paper Co           8-K:5       1/22/99    1:6K

Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         January 8, 1999 Press Release                          3     12K 


Document Table of Contents

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11st Page   -   Filing Submission
2Item 5. Other Events
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=============================================================================== 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 (Date of earliest event reported): January 22, 1999 (January 8, 1999) AMERICAN PAD & PAPER COMPANY (Exact name of registrant as specified in its charter) Commission file number 1-11803 Delaware 04-3164298 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 17304 Preston Road, Suite 700, Dallas, TX 75252-5613 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (972) 733-6200 ===============================================================================
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Item 5. Other Events. On January 8, 1999 American Pad & Paper Company (NYSE:AGP) (AP&P) announced today that the New York Stock Exchange (NYSE) intends to apply for delisting of the Company's common stock because it does not meet the NYSE's continued listing criteria. This press release is incorporated herein as Exhibit 99.019. Exhibit 99.19 Press release by the Company dated January 8, 1999. 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. American Pad & Paper Company January 22, 1999 /s/ David N. Pilotte Date David N. Pilotte Vice President and Corporate Controller Principal Accounting Officer
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Exhibit 99.019 FOR IMMEDIATE RELEASE CONTACT: Mark Lipscomb (972) 733-5415 AMERICAN PAD & PAPER ANNOUNCES PENDING PENDING DELISTING OF COMPANY'S SECURITIES BY NEW YORK STOCK EXCHANGE DALLAS, Texas, January 8, 1999, -- American Pad & Paper Company (NYSE:AGP) (AP&P) announced today that the New York Stock Exchange (NYSE) intends to apply for delisting of the Company's common stock because it does not meet the NYSE's continued listing criteria. American Pad & Paper CEO James W. Swent III said, " The Company is currently in discussions to transfer the listing to another securities exchange. We are disappointed with the NYSE's decision because, while on a reported basis the Company has never met all of the Exchange's criteria for continued listing, we have continued to make financial progress and are diligently executing our business and plant rationalization plans as we strive to return the Company to sustained profitability." Additionally Swent commented, "During the third quarter of 1998, AP&P demonstrated its continuing financial improvement by putting in place an amended banking agreement, exceeding all the financial covenants of that agreement, reducing debt levels, producing positive cash flow from operations, significantly reducing inventory levels and announcing a comprehensive plant rationalization plan." The NYSE indicated in a separate press release that it intends to suspend trading of AP&P common stock prior to the opening on Tuesday, January 26, 1999 or such earlier date as AP&P commences trading in another securities marketplace. American Pad & Paper Company is a leading manufacturer and marketer of paper-based office products in North America. Product offerings include envelopes, writing pads, file folders, machine papers, greeting cards and other office products. The key operating divisions of the Company are Williamhouse, AMPAD, and Creative Card which market principally under the following Brand Names: AMPAD(R), Century(TM), Embassy(R), Evidence(R), Globe-Weis(R), Gold Fibre(TM), Huxley(TM), Karolton(R), Kent(R), Peel & Seel(R), SCM(TM), Williamhouse(TM) and World Fibre(TM). Company revenues in 1997 were $687 million. This release contains forward-looking statements relating to future results. Actual results may differ significantly as a result of factors over which the Company has no control, including, but not limited to the following: changing economic conditions, slower than anticipated sales growth, price and product competition and changes in raw material costs. Additional information, which could affect the Company's financial results, is included in the Company's filings with the Securities and Exchange Commission. ###

Dates Referenced Herein   and   Documents Incorporated By Reference

Referenced-On Page
This 8-K Filing   Date First   Last      Other Filings
1/8/9913
Filed On / Filed As Of / For The Period Ended1/22/9912
1/26/993
 
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