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 14, 2005
PAR TECHNOLOGY CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-09720 16-1434688
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(State or other (Commission File (I.R.S. Employer
jurisdiction of Number) incorporation or
organization) Identification Number)
PAR Technology Park
8383 Seneca Turnpike
New Hartford, NY 13413-4991
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (315) 738-0600
Not Applicable
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(Former Name or Former Address, if changed since Last Report)
Item 8.01 Other Events.
On November 14, 2005, the Board of Directors of the Company approved a
three for two stock split, to be effected in the form of a stock dividend, with
holders of record on the record date receiving one additional share of common
stock for every two shares owned. The stock dividend will be paid to stockholder
of record on December 12, 2005. A copy of the press release is filed as Exhibit
99.1 in this report.
Item 9.01 Financial Statements and Exhibits
Exhibits
99.1 Press Release dated November 15, 2005.
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.
PAR TECHNOLOGY CORPORATION
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(Registrant)
Date: November 15, 2005
/s/RONALD J. CASCIANO
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Ronald J. Casciano
Vice President, Chief Financial Officer
and Treasurer
EXHIBIT INDEX
Exhibit Number Description
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99.1 Press Release dated November 15, 2005.
Exhibit 99.1 Press Release dated November 15, 2005.
RELEASE: NEW HARTFORD, NY, November 15, 2005
CONTACT: Christopher R. Byrnes (315) 738-0600 ext. 226
cbyrnes@partech.com, www.partech.com
-PAR TECHNOLOGY CORPORATION ANNOUNCES 3 for 2 STOCK SPLIT-
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NEW HARTFORD, NY, PAR TECHNOLOGY CORPORATION (NYSE:PTC)
New Hartford, NY--November 15, 2004--PAR Technology Corporation today announced
that the Company's Board of Directors has approved a 3 for 2 stock split. The
stock split will be effected in the form of a stock dividend. Shareholders of
record will receive one new share for every two shares held. Cash will be paid
in lieu of issuing fractional shares. PAR plans to distribute the new shares of
common stock on January 6, 2006, to stockholders of record at the close of
business on December 12, 2005.
As of today, there are approximately 10.5 million shares of the Company's common
stock issued and outstanding. After the split, there will be approximately 15.75
million shares of the Company's common stock outstanding. The Company expects
the adjusted number of shares outstanding and adjusted per-share stock price to
be reported to the New York Stock Exchange, effective January 6, 2006.
Certain Company information in this release or by its spokespersons from time to
time may contain forward-looking statements. Any statements in this document
that do not describe historical facts are forward-looking statements.
Forward-looking statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. Investors are cautioned
that all forward-looking statements involve risks and uncertainties, including
without limitation, delays in new product introduction, risks in technology
development and commercialization, risks in product development and market
acceptance of and demand for the Company's products, risks of downturns in
economic conditions generally, and in the quick service sector of the restaurant
market specifically, risks of intellectual property rights associated with
competition and competitive pricing pressures, risks associated with foreign
sales and high customer concentration, and other risks detailed in the Company's
filings with the Securities and Exchange Commission.
ABOUT PAR TECHNOLOGY
PAR Technology Corporation develops, markets and supports hardware and software
products that improve the ability of restaurant, hotels/resorts and retail
business professionals to make timely, fact-based business decisions. The
Company is the world's largest supplier of Point-of-Sale systems to the quick
service restaurant market with over 40,000 systems installed in over 100
countries. In addition PAR is a leader in providing computer based system design
and engineering services to the Department of Defense and Federal Government
Agencies. PAR Technology Corporation's stock is traded on the New York Stock
Exchange under the symbol PTC. For additional information visit PAR's website at
www.partech.com.