SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
May 20, 1997
Date of Report (Date of earliest event reported) _______________________________
DIGITAL COMMUNICATIONS TECHNOLOGY CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
1-13088 65-0014636
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(Commission File Number) (IRS Employer Identification No.)
16910 Dallas Parkway, Suite 100, Dallas, Texas 75248
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(Address of principal executive offices) (Zip Code)
(972) 248-1922
Registrant's telephone number, including area code __________________________
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(Former name or former address, if changed since last report)
ITEM 5. Other Events.
On May 20, 1997, the Board of Directors of the Registrant removed Hugh C. Coppen
as President and Chief Executive Officer and elected Clifford E. Patton as
President and Chief Executive Officer. Also, at the request of the other members
of the Board of Directors of the Registrant, Hugh C. Coppen resigned as a
Director of the Registrant on May 20, 1997.
ITEM 7. Financial Statements and Exhibits.
(a) Financial statements of business acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Exhibits.
99 News Release of Registrant dated May 20, 1997: "Digital
Communications Technology Corporation Terminates Hugh Coppen as
President & CEO - Names Cliff Patton As Its New President & CEO"
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.
DIGITAL COMMUNICATIONS TECHNOLOGY CORPORATION
/s/ Kevin B. Halter
By: __________________________________________________
Kevin B. Halter, Chairman of the Board
Dated: May 29, 1997
digital\970520.8-k
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EXHIBIT INDEX
Exhibit
Number
99 News Release of Registrant dated May 20, 1997: "Digital Communications
Technology Corporation Terminates Hugh Coppen as President & CEO - Names
Cliff Patton As Its New President & CEO"
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EXHIBIT 99
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DIGITAL COMMUNICATIONS TECHNOLOGY CORPORATION TERMINATES
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HUGH COPPEN AS PRESIDENT & CEO-NAMES CLIFF PATTON AS ITS NEW PRESIDENT & CEO
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DALLAS, TEXAS - May 20, 1997 - digital Communications Technology Corporation
(AMEX: DCT) announced today that it has terminated Hugh Coppen a its President
and CEO, and has named Cliff Patton as the Company's new President and CEO.
In conjunction with the termination, the Company released the following
statement: "The Board of Directors of DCT is shocked by the disastrous financial
results reported by the Company for the quarter ended March 31, 1997, and the
fact that these results were not shared with the Board until the first week in
May, 1997. Further the Board was shocked to learn that seemingly, its President
and CEO Hugh Coppen, was equally unaware of the severity of the results. The
Board had given Mr. Coppen a clear and free hand in running the Company when he
was hired a year ago, and now has lost faith and confidence in his ability to
run the Company. By our swift action we hope to have demonstrated to our
shareholders that we will not tolerate subpar performance now nor in the future.
In Mr. Patton the Company has acquired a proven leader and expert in crisis
management. We have full faith and confidence that Mr. Patton will take
immediate corrective actions to restore the Company to profitability and
stability in a short period of time."
For the past four months, Mr. Patton has been employed by the Company as a
consultant, directing the relocation of the Company's operations in Indianapolis
into new and expanded quarters. Mr. Patton age 52, previously was the President
and CEO of American Quality Manufacturing Corporation. Prior employment in
various capacities included amongst other, Color Tile (a former subsidiary of
Tandy Corporation) and Brinkley Motor Products, a division of Franklin Electric
Company.
The Company also announced that it has retained Jim Weinberg, a co-founder of
the Company, in an advisory capacity to Mr. Patton and named him Chief Operating
Officer in charge of the Company's Ft. Lauderdale, Florida operation. Mr.
Weinberg had previously served as Executive Vice President of the Company until
March of this year, when he became President of Millennia Entertainment, Inc.
Additionally, Kevin B. Halter, Chairman of the Company has been given
responsibility by the Board to oversee the entire operations of the Company on a
day to day basis, until the Board is satisfied that this action will no longer
be necessary.
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The information in this news release includes certain forward looking statements
that are based upon assumptions that in the future may prove not to have been
accurate and are subject to significant risks and uncertainties, including
statements to the future financial performance of the Company. Although the
Company believes that the expectations reflected in its forward looking
statements are reasonable, it can give no assurance that such expectations or
any of its forward looking statements will prove to be correct. Factors that
could cause results to differ include, but are not limited to, successful
performance of internal plans, product development and acceptance, the impact of
competitive services and pricing, general economic risks and uncertainties.
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