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): April 22, 2003
MINN-DAK FARMERS COOPERATIVE
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(Exact name of Registrant as specified in its charter)
North Dakota 33-94644 23-7222188
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
7525 Red River Road
Wahpeton, North Dakota 58075
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (701) 642-8411
ITEM 1. Not Applicable
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ITEM 2. Not Applicable.
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ITEM 3. Not Applicable.
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ITEM 4. Not Applicable.
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ITEM 5. OTHER EVENTS.
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On April 22, 2003, the Board of Directors of Minn-Dak Farmers
Cooperative (the "Cooperative"), approved the sale of the Cooperative's 5%
ownership interest in ProGold Limited Liability Company ("ProGold") to American
Crystal Sugar Company for $10,300,000.
ProGold was formed in 1994 by three entities for the purpose of
building a plant to produce from corn, and to market, high fructose corn syrup,
corn gluten feed, corn gluten meal and corn germ. The other two entities with
ownership interests in ProGold are American Crystal Sugar Company and Golden
Growers Cooperative. After the sale, Golden Growers Cooperative has a 49%
interest and American Crystal Sugar has a 51% interest in ProGold.
A letter to stockholders explaining the sale is attached as Exhibit
99.1.
ITEM 6. Not Applicable.
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
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99.1 Minn-Dak Farmers Cooperative letter to Stockholders, dated April 23,
2003, announcing the sale of the Cooperative's ownership interests in
ProGold Limited Liability Company.
ITEM 8. Not Applicable.
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ITEM 9. Not Applicable.
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ITEM 10. Not Applicable.
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ITEM 11. Not Applicable.
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ITEM 12. Not Applicable.
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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, thereunto duly authorized.
MINN-DAK FARMERS COOPERATIVE
Dated: April 28, 2003 By /S/ David H. Roche
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David H. Roche
President and Chief Executive Officer