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) October 6, 2005 (October 5, 2005)
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ELECSYS CORPORATION
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(Exact name of registrant as specified in its charter)
KANSAS 0-22760 48-1099142
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
15301 W. 109th Street Lenexa, Kansas 66219
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (913) 647-0158
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Not Applicable
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(Former name or former address, if changed since last report)
Item 1.01 Entry into a Material Definitive Agreement.
On October 5, 2005, Elecsys Corporation (the "Company") entered into a Real
Estate Contract with Rose Construction Company ("Rose") pursuant to which the
Company has agreed, subject to certain conditions precedent, to purchase from
Rose approximately five acres of land and all improvements to be constructed
thereon for approximately $4,380,000. Improvements will primarily consist of an
approximately 60,100 square foot building that will house the Company's new
production and headquarters facility. The Real Estate Contract also provides
that Rose will purchase the Company's current production and headquarters
facility for an amount in excess of its book value in the event that Company is
unable to sell it prior to the closing date contemplated thereunder. The Company
anticipates moving into the new facility in summer 2006.
A copy of a press release announcing the Company's entry into the Real
Estate Contract is furnished under Item 9.01 of this Form 8-K as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(c) EXHIBITS. The following exhibits are filed herewith:
99.1 Press Release dated October 6, 2005.
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: October 6, 2005
ELECSYS CORPORATION
By: /s/ Todd A. Daniels
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Todd A. Daniels
Vice President and Chief Financial
Officer
EXHIBIT INDEX
Exhibit Number Description
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99.1 Press release dated October 6, 2005
