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 15, 2006
SENTRY TECHNOLOGY CORPORATION
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(Exact Name of Registrant as specified in charter)
Delaware 1-12727 96-11-3349733
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(State or other jurisdic- (Commission (IRS Employer
tion of incorporation) File Number) Identification No.)
1881 Lakeland Avenue, Ronkonkoma, New York 11779
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(Address of principal executive offices) (Zip Code)
631/ 739-2000
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Registrant's telephone number, including area code
N/A
(Former name or former address, if changed since last report.)
INFORMATION TO BE INCLUDED IN THIS REPORT
Item 1.01 - Entry into a Material Definitive Agreement
On May 15, 2006, Sentry Technology Corporation (the "COMPANY") and certain of
its subsidiaries amended its loan agreement with Royal Bank of Canada. The
maximum aggregate amount of the credit facility was reduced from $4.5 million to
$3.6 million dollars (Canadian). Other changes include the following: the
termination date was extended to May 14, 2007; and the current borrowing limit
was increased by up to $1 million (Canadian) based upon standby letters of
credit provided by two of the Company's directors. This new credit facility
replaces and restates the Company's previous agreement with Royal Bank of
Canada.
Item 9.01. Financial Statements and Exhibits.
Exhibit 10.1 - Credit Facility Letter Agreement with Royal Bank of Canada dated
May 15, 2006.
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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.
SENTRY TECHNOLOGY CORPORATION
By: /s/ Peter J. Mundy Date: May 31, 2006
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Peter J. Mundy
Vice President and Chief Financial Officer
EXHIBIT INDEX
10.1 Credit Facility Letter Agreement with Royal Bank of Canada dated May
15, 2006.