Meritage Hospitality Group Inc – ‘8-K’ for 7/30/98

As of:  Friday, 7/31/98   ·   For:  7/30/98   ·   Accession #:  892251-98-256   ·   File #:  1-12319

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Current Report   —   Form 8-K
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Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         2      9K 

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8-K
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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
SECURITES EXCHANGE ACT OF 1934

 Date of report (Date of earliest event reported): July 30, 1998

 MERITAGE HOSPITALITY GROUP INC.
(Exact Name of Registrant as Specified in Charter)

MICHIGAN
(State or Other Jurisdiction
 of Incorporation)

 0-17442                                                38-2730460
(Commission File Number)                                     (IRS Employer      
                                                        Identification Number)

40 PEARL STREET, N.W., SUITE 900
GRAND RAPIDS, MICHIGAN 49503
 (Address of Principal Executive Offices) (Zip Code)

Registrant's telephone number, including area code: (616) 776-2600

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ITEM 5.    OTHER EVENTS                                                 

    On July 16,  1998,  the Company  amended its  Articles of  Incorporation  to
    reprice the conversion  formula of its Series A Convertible  Preferred Stock
as follows:                                                             

        Until the close of business on September 14, 1998, the conversion  price
        shall be the average of the average daily high and low bid prices quoted
        on the OTC Bulletin  Board for the 10 trading days beginning on the date
        that  commences two days following the filing of the Company's Form 10-Q
        for the Second Fiscal Quarter of 1998. Thereafter,  the conversion price
        shall be  increased  by one  dollar  on the 15th day of each  September,
        December, March and June provided, however, that if the conversion price
        as computed ever equals or exceeds $7.00 per share,  then the conversion
        price  shall be $7.00 for each  common  share and no  further  increases
shall occur.                                                    

    The average of the average  daily high and low bid prices for the 10 trading
    days as set forth  above was $1.41 per common  share.  As of July 30,  1998,
    there were 138,387 Series A Convertible  Preferred Shares  outstanding.  The
    number of common shares into which the preferred  shares will be convertible
    is  determined  by dividing the  liquidation  value of $10.00 per  preferred
    share by the conversion price then in effect.  All other terms of the Series
A Convertible Preferred Stock remain unchanged.                         

            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 hereto duly authorized.                                     

                           MERITAGE HOSPITALITY GROUP INC.

Dated:  July 31, 1998             By:  /s/ Christopher B. Hewett        
                                 -------------------------------
                       Christopher B. Hewett
                                       President and Chief Executive Officer

Dates Referenced Herein

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
		9/14/98		2					None on these Dates
Filed on:		7/31/98		2
For Period End:		7/30/98		1		2
		7/16/98		2
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