FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 14(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 30, 1997
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INTERNATIONAL LEISURE HOSTS, LTD.
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(Exact name of registrant as specified in its charter)
Wyoming 0-3858 86-0224163
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1702 E. Highland Avenue, Suite 312
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Phoenix, Arizona 85016
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (602) 266-0001
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N/A
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(Former name or former address, if changed since last report)
Item 1. Changes in Control of Registrant
The Company has been informed that certain shareholders, Anthony J.
Nicoli Trust dated August 25, 1992, the 1978 Nicoli Children's Trust dated
November 3, 1978, the A.J. Nicoli Charitable Trust dated September 11, 1968, the
Elizabeth A. Nicoli 1974 Children's Trust for the benefit of Joseph P. Nicoli
dated December 12, 1974, the Elizabeth A. Nicoli 1974 Children's Trust for the
benefit of Susan Walker dated December 12, 1974, the Elizabeth A. Nicoli 1974
Children's Trust for the benefit of Toni Jo Nicoli dated December 12, 1974, the
Jennifer J. Fisher Stock Trust dated December 27, 1976, the Jennifer J. Walker
Irrevocable Trust dated December 31, 1992, and the Shawn D. Walker Irrevocable
Trust dated December 31, 1992, entered into a Stock Purchase Agreement with
Robert L. Walker on September 30, 1997. These shareholders have agreed to sell
an aggregate of 471,669 (68%) common shares for a total purchase price of
approximately $3,500,000. Common shares totaling 67,381 (10%) were purchased for
approximately $500,000 at the signing of the agreement and the balance of the
purchase is subject to National Park Service approval and other contractual
conditions relating to the National Park Service. The closing of this
transaction is anticipated in March 1998.
The Company elected Robert L. Walker as President and Michael P.
Perikly as Treasurer and Chief Financial Officer as of September 30, 1997. These
appointments were in conjunction with the Stock Purchase Agreement.
Item 7. Financial Statements and Exhibits.
(1) Exhibits. See the Exhibit Index, which is incorporated herein by
reference, immediately following the Signature page to this Report.
(2) Financial Statements. None.
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 hereunto duly authorized.
INTERNATIONAL LEISURE HOSTS, LTD.
(Registrant)
Dated: October 21, 1997 By* /s/ F. Ray Evarts
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F. Ray Evarts
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Secretary
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*Print name and title of
the signing officer
under his/her
signature.
EXHIBIT INDEX
Exhibit No. Description of Exhibit
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* Stock Purchase Agreement dated September 23, 1997
* Incorporated by reference to Exhibit to Schedule 13D filed by Robert L. Walker
on October 9, 1997, as amended, with respect to the Securities of the Issuer.