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): MAY 24, 1999
-------------
ALL AMERICAN SEMICONDUCTOR, INC.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
DELAWARE
----------------------------------------------
(State or other jurisdiction of incorporation)
0-16207 59-2814714
- ----------------------- ----------------------
(Commission File Number) (I.R.S. Employer
Identification No.)
16115 N.W. 52ND AVENUE, MIAMI, FLORIDA 33014
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (305) 621-8282
--------------
N/A
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS.
On May 24, 1999, All American Semiconductor, Inc. (the "Company")
announced that the Company's Board of Directors has authorized the repurchase of
up to $2 million in purchase price of the Company's common stock, $.01 par value
("Common Stock"). The stock repurchases may, at the discretion of the Company's
management, be made from time to time at prevailing prices in the open market or
through privately negotiated transactions. The Company's management will base
its decision on market conditions, the price of the Common Stock and other
factors. The Company intends to make such stock repurchases using available cash
flow from operations and/or available borrowings under its credit facility. Any
shares of Common Stock repurchased will be available for reissuance in
connection with the Company's Employees', Officers', Directors' Stock Option
Plan or for other corporate purposes. Notwithstanding the adoption of the stock
repurchase program, there can be no assurance that the Company will repurchase
any or all of the Common Stock contemplated to be repurchased under such program
or as to the timing thereof.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
Exhibit No. Exhibit Description
----------- -------------------
99 Press release dated
May 24, 1999.
----------------------
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.
ALL AMERICAN SEMICONDUCTOR, INC.
Date: May 24, 1999 By: /s/ Howard L. Flanders
------------------------------------
Howard L. Flanders
Executive Vice President and
Chief Financial Officer