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):
July
5, 2005
FRANKLIN
COVEY CO.
(Exact
name of registrant as specified in its charter)
Commission
File No. 1-11107
|
Utah
|
87-0401551
|
|
|
(State
or other jurisdiction
of
incorporation)
|
(IRS
Employer
Identification
Number)
|
|
2200
West Parkway Boulevard
Salt
Lake City, Utah 84119-2099
(Address
of principal executive offices)(Zip Code)
Registrant’s
telephone number, including area code: (801)
817-1776
Former
name or former address, if changed since last report: Not
Applicable
______________________
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
oSoliciting
material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
8.01 Other
Events
On
July
5, 2005, Franklin Covey Co. (the Company) used $30.0
million
of the proceeds from the recent sale of its corporate headquarters facility
to
redeem 1,200,000
shares
of its Series A Preferred Stock held by Knowledge Capital, an entity which
holds
the majority of the Company’s preferred stock. The redemption was made under the
provisions of the recently approved recapitalization plan and was at 100
percent
of the liquidation preference for the shares of preferred stock. This redemption
will reduce the Company’s preferred stock dividend obligation by $3.0
million
per year. Following the redemption, the Company will have 2,293,783
shares
of preferred stock outstanding.
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.
|
FRANKLIN
COVEY CO.
|
||||
|
Date:
|
July
11, 2005
|
By:
|
/s/
STEPHEN D. YOUNG
|
|
|
Stephen
D. Young
|
||||
|
Chief
Financial Officer
|
||||