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: January 30, 1997
Date of earliest event reported: January 30, 1997
ASHLAND INC.
(Exact name of registrant as specified in its charter)
Kentucky
(State or other jurisdiction of incorporation)
1-2918 61--0122250
(Commission File Number) (I.R.S. Employer
Identification No.)
1000 Ashland Drive, Russell, Kentucky 41169
(Address of principal executive offices) (Zip Code)
P.O. Box 391, Ashland, Kentucky 41114
(Mailing Address) (Zip Code)
Registrant's telephone number, including area code (606) 329-3333
Item 5. Other Events
On January 30, 1997, the Board of Directors of Ashland Inc. announced
that Ashland will proceed toward an initial public offering of less than 20
percent of Ashland Exploration, Inc., a wholly-owned subsidiary, subject to
certain contingencies. This transaction would likely occur in the late
spring or summer. The initial public offering would likely be followed by
the tax-free spin off of Ashland's remaining ownership in Ashland
Exploration to Ashland Inc. shareholders once an appropriate ruling is
received from the Internal Revenue Service.
The foregoing summary of the attached press release is qualified in
its entirety by the complete text of such document, a copy of which is
attached hereto.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99 Press Release
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.
ASHLAND INC.
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(Registrant)
Date: January 30, 1997 /s/ James G. Stephenson
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Name: James G. Stephenson
Title: Vice President - Law
Exhibit Index
Exhibit No. Page No.
99 Press Release of Ashland Inc. 5
dated January 30, 1997