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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report: May 29, 1998
GRADALL INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
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Delaware 001-12049 36-3381606
(State of other jurisdiction (Commission (IRS Employer
of incorporation) File no.) Identification No.)
406 Mill Avenue SW,
New Philadelphia, OH 44663
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (330) 339-2211
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(Former name or former address, if changed since last report.)
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Item 5. Other Events.
See the attached press release dated May 29, 1998.
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.
GRADALL INDUSTRIES, INC.
By: /s/ Bruce A. Jonker
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Name: Bruce A. Jonker
Title: Vice President and Chief
Financial Officer
June 15, 1998
PRESS RELEASE
Gradall Industries, Inc. Adopts Stockholder Rights Plan
New Philadelphia, Ohio -- May 29, 1998 -- Gradall Industries,
Inc. announced today that its Board of Directors has adopted a Stockholder
Rights Plan designed to enhance the Board's ability to protect stockholders
against, among other things, unsolicited attempts to acquire control of
Gradall that do not offer an adequate price to all stockholders or are
otherwise not in the best interests of its stockholders. Gradall said that the
Plan was not adopted in response to any stock acquisition plans or proposals
of others.
Under the Plan each common stockholder at the close of business
on June 10, 1998 will receive a dividend of one right for each share of Common
Stock held. However, as is the case with similar Stockholder Rights Plans
adopted by many other companies, the rights are not exercisable until after a
person has become the beneficial owner of 15% or more of Gradall's Common
Stock or commenced a tender or exchange offer which would result in such
ownership. Once a person acquires such ownership, the rights would permit
Gradall stockholders, other than the acquiring person, to purchase additional
Common Stock at a substantial discount to its then current market price. The
rights will expire in ten years, unless earlier exchanged or redeemed. The
plan provides an exemption for existing 15% stockholders.