-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PCt2bwP2uhFaZzz+BuvhzlHtDhJMCP7peLOt5Y52GxCbdBZjZBWBeJASRhAKORdh 40MH5qWWeF5ori0o6t7Idw== 0000950168-99-003028.txt : 19991122 0000950168-99-003028.hdr.sgml : 19991122 ACCESSION NUMBER: 0000950168-99-003028 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991104 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19991119 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SONIC AUTOMOTIVE INC CENTRAL INDEX KEY: 0001043509 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500] IRS NUMBER: 562010790 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-13395 FILM NUMBER: 99761253 BUSINESS ADDRESS: STREET 1: 5401 EAST INDEPENDENCE BLVD STREET 2: PO BOX 18747 CITY: CHARLOTTE STATE: NC ZIP: 28026 BUSINESS PHONE: 7045323354 MAIL ADDRESS: STREET 1: 5401 EAST INDEPENDENCE BLVD CITY: CHARLOTTE STATE: NC ZIP: 28026 8-K 1 SONIC AUTOMOTIVE, INC. 8-K UNITED STATES 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): November 4, 1999 SONIC AUTOMOTIVE, INC. (Exact name of registrant as specified in its charter)
DELAWARE 1-13395 56-201079 (State or other jurisdiction of (Commission File Number) (I.R.S Employer incorporation or organization) Identification No.)
5401 E. Independence Boulevard 28212 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (704) 532-3320 (Former name, former address and former fiscal year, if changed since last report) - -------------------------------------------------------------------------------- ITEM 5: OTHER EVENTS. Please see Exhibit 99.1. ITEM 7: FINANCIAL STATEMENTS AND EXHIBITS. (A) FINANCIAL STATEMENTS OF BUSINESS ACQUIRED. Not required. (B) PRO FORMA FINANCIAL INFORMATION. Not required. (C) EXHIBITS. Exhibit Number Description of Exhibits 99.1 Press Release issued by Sonic on November 4, 1999 pertaining to authorized stock repurchase of up to $25 million. 2 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. SONIC AUTOMOTIVE, INC. Date: November 19, 1999 By: /s/ Theodore M. Wright. ----------------- ------------------------------------------------ THEODORE M. WRIGHT VICE PRESIDENT-FINANCE, CHIEF FINANCIAL OFFICER, TREASURER AND SECRETARY (PRINCIPAL FINANCIAL AND ACCOUNTING OFFICER) 3 EX-99 2 EXHIBIT 99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE SONIC AUTOMOTIVE AUTHORIZES STOCK BUYBACK CHARLOTTE, NC (NOVEMBER 4, 1999) - Sonic Automotive, Inc. (NYSE: SAH) today announced that its Board of Directors has authorized the Company to expend up to $25,000,000 to repurchase outstanding shares of its Class A common stock or redeem securities convertible into Class A common stock. The Board's decision reflects its determination that the most recent per share closing price of SAH common stock ($10 per share as of November 4, 1999) is not an appropriate valuation of the Company's common stock. Shares of common stock will be purchased from time to time in the open market subject to market conditions. "The Board has confidence in the Company's strategy and the future of automobile retailing, and this buyback reflects our confidence. At current share prices, buying back the Company's stock is a sound use of our capital," stated O. Bruton Smith, the Company's Chairman and Chief Executive Officer. Sonic Automotive, Inc. is the second largest automotive retailer in the United States, with operations in Alabama, Florida, Georgia, Maryland, Nevada, North Carolina, Ohio, South Carolina, Tennessee, Texas, and Virginia. Upon completion of announced acquisitions, Sonic will operate 159 franchises and 30 collision repair centers. Included herein are forward-looking statements, including statements with respect to the Company's prospects and industry conditions. There are many factors which affect management's views about future events and trends of the Company's business. These factors involve risk and uncertainties that could cause actual results or trends to differ materially from management's view, including without limitation economic conditions, risks associated with acquisitions and the risk factors set forth from time to time in the Company's recent filings with the Securities and Exchange Commission. Contact: Theodore M. Wright, Chief Financial Officer of Sonic Automotive, Inc., (704) 532-3347. J. Todd Atenhan, Investor Relations of Sonic Automotive, Inc. (888) 766-4218. Val Holley-Dennis, Media Relations of Sonic Automotive, Inc. (704) 660-3424. Internet Address: www.sonicautomotive.com -----END PRIVACY-ENHANCED MESSAGE-----