ClubCorp Holdings, Inc. (NYSE:MYCC) Files An 8-K Results of Operations and Financial Condition
Item 2.02
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Results of Operations and Financial Condition.
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On April 12, 2017, the Company issued a press release announcing
the results of the Companys operations for its first quarter
ended March 21, 2017. A copy of the press release is attached
hereto as Exhibit 99.1 and is incorporated herein by this
reference. The press release will also be posted on the Investor
Relations section of the Companys website located at
http://ir.ClubCorp.com.
the results of the Companys operations for its first quarter
ended March 21, 2017. A copy of the press release is attached
hereto as Exhibit 99.1 and is incorporated herein by this
reference. The press release will also be posted on the Investor
Relations section of the Companys website located at
http://ir.ClubCorp.com.
The information in this Item 2.02 and Exhibit 99.1 is being
furnished to Item 2.02 of Form 8-K and shall not be deemed to be
filed for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended (the Exchange Act), or otherwise subject to
the liabilities of that section, nor shall it be deemed to be
incorporated by reference in any filing made by the Company under
the Securities Act of 1933, as amended (the Securities Act), or
the Exchange Act, except as shall be expressly set forth by
specific reference in such a filing.
furnished to Item 2.02 of Form 8-K and shall not be deemed to be
filed for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended (the Exchange Act), or otherwise subject to
the liabilities of that section, nor shall it be deemed to be
incorporated by reference in any filing made by the Company under
the Securities Act of 1933, as amended (the Securities Act), or
the Exchange Act, except as shall be expressly set forth by
specific reference in such a filing.
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Item 5.02
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers. |
On April 12, 2017, the Company announced that the Companys Chief
Executive Officer, Eric Affeldt, intends to retire from his role
as Chief Executive Officer upon the appointment of his successor.
As part of its regular Chief Executive Officer succession
planning process, the Companys Board of Directors has identified
a strong internal candidate to potentially assume the Chief
Executive Officer role and will engage a leading executive search
firm to identify additional, highly qualified, external
candidates.
Executive Officer, Eric Affeldt, intends to retire from his role
as Chief Executive Officer upon the appointment of his successor.
As part of its regular Chief Executive Officer succession
planning process, the Companys Board of Directors has identified
a strong internal candidate to potentially assume the Chief
Executive Officer role and will engage a leading executive search
firm to identify additional, highly qualified, external
candidates.
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Item 7.01
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Regulation FD Disclosure.
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On April 12, 2017, the Company issued a press release announcing
Mr. Affeldts intention to retire as its Chief Executive Officer
upon the appointment of his successor. A copy of the press
release is attached hereto as Exhibit 99.2 and is incorporated
herein by this reference.
Mr. Affeldts intention to retire as its Chief Executive Officer
upon the appointment of his successor. A copy of the press
release is attached hereto as Exhibit 99.2 and is incorporated
herein by this reference.
The information in this Item 7.01 and Exhibit 99.2 is being
furnished to Item 7.01 of Form 8-K and shall not be deemed to be
filed for purposes of Section 18 of the Exchange Act or otherwise
subject to the liabilities of that section, nor shall it be
deemed incorporated by reference in any filing made by the
Company under the Securities Act or the Exchange Act, except as
shall be expressly set forth by specific reference in such a
filing.
furnished to Item 7.01 of Form 8-K and shall not be deemed to be
filed for purposes of Section 18 of the Exchange Act or otherwise
subject to the liabilities of that section, nor shall it be
deemed incorporated by reference in any filing made by the
Company under the Securities Act or the Exchange Act, except as
shall be expressly set forth by specific reference in such a
filing.
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Item 8.01
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Other Events.
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On April 12, 2017, the Company issued a press release providing
an update on its review of strategic alternatives, which it
previously announced on January 12, 2017. The Company announced
that following a process led by the Board of Directors Strategic
Review Committee, with the assistance of financial and legal
advisors, the Board of Directors had unanimously determined that
the Company will continue executing its current growth strategy.
The Board of Directors Strategic Review Committee will remain in
place, however, and continue to discuss opportunities to enhance
shareholder value. A copy of the press release is attached hereto
as Exhibit 99.3 and is incorporated herein by this reference.
an update on its review of strategic alternatives, which it
previously announced on January 12, 2017. The Company announced
that following a process led by the Board of Directors Strategic
Review Committee, with the assistance of financial and legal
advisors, the Board of Directors had unanimously determined that
the Company will continue executing its current growth strategy.
The Board of Directors Strategic Review Committee will remain in
place, however, and continue to discuss opportunities to enhance
shareholder value. A copy of the press release is attached hereto
as Exhibit 99.3 and is incorporated herein by this reference.
Special Note on Forward-Looking Statements
In addition to historical information, this Form 8-K contains
statements relating to future events and results (including
certain projections and business trends) that are forward-looking
statements within the meaning of Section 27A of the Securities
Act and Section 21E of the Exchange Act, which are subject to the
safe harbor created by those sections. These forward-looking
statements can be identified by the fact that they do not relate
strictly to current or historical facts and often include words
such as plans, may, should, expect, intend, will, estimate,
anticipate, believe, predict, potential or continue, or the
negatives of these terms or variations of them or similar
terminology in this Form 8-K and any attachment to identify
forward-looking statements. All statements, other than statements
of historical facts included in this Form 8-K, including
statements concerning plans, objectives, goals, beliefs, business
strategies, future events, business
statements relating to future events and results (including
certain projections and business trends) that are forward-looking
statements within the meaning of Section 27A of the Securities
Act and Section 21E of the Exchange Act, which are subject to the
safe harbor created by those sections. These forward-looking
statements can be identified by the fact that they do not relate
strictly to current or historical facts and often include words
such as plans, may, should, expect, intend, will, estimate,
anticipate, believe, predict, potential or continue, or the
negatives of these terms or variations of them or similar
terminology in this Form 8-K and any attachment to identify
forward-looking statements. All statements, other than statements
of historical facts included in this Form 8-K, including
statements concerning plans, objectives, goals, beliefs, business
strategies, future events, business
conditions, results of operations, financial position and
business outlook, earnings guidance, business trends and other
information are forward-looking statements. The forward-looking
statements are not historical facts, and are based upon current
expectations, estimates and projections, and various assumptions,
many of which, by their nature, are inherently uncertain and
beyond managements control. All expectations, beliefs, plans and
projections are expressed in good faith and the Company believes
there is a reasonable basis for them. However, there can be no
assurance that managements expectations, beliefs, plans and
projections will result or be achieved and actual results may
vary materially from what is expressed in or indicated by the
forward-looking statements.
business outlook, earnings guidance, business trends and other
information are forward-looking statements. The forward-looking
statements are not historical facts, and are based upon current
expectations, estimates and projections, and various assumptions,
many of which, by their nature, are inherently uncertain and
beyond managements control. All expectations, beliefs, plans and
projections are expressed in good faith and the Company believes
there is a reasonable basis for them. However, there can be no
assurance that managements expectations, beliefs, plans and
projections will result or be achieved and actual results may
vary materially from what is expressed in or indicated by the
forward-looking statements.
These forward-looking statements are subject to a number of risks
and uncertainties that could cause actual results to differ
materially from the forward-looking statements contained in this
Form 8-K, including among others: the ability of the Board of
Directors to identify and attract candidates to replace Mr.
Affeldt, changes in the business environment in which the Company
operates, the availability and attractiveness of potential
strategic opportunities, the behavior of the Companys
competitors, various factors beyond managements control adversely
affecting discretionary spending, membership count and facility
usage and other risks, uncertainties and factors set forth in the
sections entitled Risk Factors and Cautionary Statement Regarding
Forward-Looking Statements in the Companys Annual Report on Form
10-K for the fiscal year ended December 27, 2016, which is on
file with the Securities Exchange Commission (SEC).
and uncertainties that could cause actual results to differ
materially from the forward-looking statements contained in this
Form 8-K, including among others: the ability of the Board of
Directors to identify and attract candidates to replace Mr.
Affeldt, changes in the business environment in which the Company
operates, the availability and attractiveness of potential
strategic opportunities, the behavior of the Companys
competitors, various factors beyond managements control adversely
affecting discretionary spending, membership count and facility
usage and other risks, uncertainties and factors set forth in the
sections entitled Risk Factors and Cautionary Statement Regarding
Forward-Looking Statements in the Companys Annual Report on Form
10-K for the fiscal year ended December 27, 2016, which is on
file with the Securities Exchange Commission (SEC).
Although the Company believes that these statements are based
upon reasonable assumptions, it cannot guarantee future results
and readers are cautioned not to place undue reliance on these
forward-looking statements, which reflect managements opinions
only as of the date of this Form 8-K. There can be no assurance
that the Company has correctly measured or identified all of the
factors affecting its plans or business or the extent of these
factors likely impact, (ii) the available information with
respect to these factors on which such analysis is based is
complete or accurate, (iii) such analysis is correct or (iv) the
Companys strategy, which is based in part on this analysis, will
be successful. Except as required by law, the Company undertakes
no obligation to update or revise forward-looking statements to
reflect new information or events or circumstances that occur
after the date of this Form 8-K or to reflect the occurrence of
unanticipated events or otherwise. Readers are advised to review
the Companys filings with the SEC (which are available from the
SECs EDGAR database at www.sec.gov and via the Companys website
at at ir.clubcorp.com).
upon reasonable assumptions, it cannot guarantee future results
and readers are cautioned not to place undue reliance on these
forward-looking statements, which reflect managements opinions
only as of the date of this Form 8-K. There can be no assurance
that the Company has correctly measured or identified all of the
factors affecting its plans or business or the extent of these
factors likely impact, (ii) the available information with
respect to these factors on which such analysis is based is
complete or accurate, (iii) such analysis is correct or (iv) the
Companys strategy, which is based in part on this analysis, will
be successful. Except as required by law, the Company undertakes
no obligation to update or revise forward-looking statements to
reflect new information or events or circumstances that occur
after the date of this Form 8-K or to reflect the occurrence of
unanticipated events or otherwise. Readers are advised to review
the Companys filings with the SEC (which are available from the
SECs EDGAR database at www.sec.gov and via the Companys website
at at ir.clubcorp.com).
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Item 9.01
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Financial Statements and Exhibits.
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Exhibit Number
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Description
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99.1
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Press release entitled ClubCorp Reports Twelfth
Consecutive Quarter of Growth, Announces Acquisition of Oakhurst Golf and Country Club and The Collective a New Club Concept, dated April 12, 2017, of ClubCorp Holdings, Inc. |
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99.2
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Press release entitled ClubCorp CEO Eric Affeldt to
Retire, dated April 12, 2017, of ClubCorp Holdings, Inc. |
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99.3
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Press release entitled ClubCorp Provides Update on
Review of Strategic Alternatives, dated April 12, 2017, of ClubCorp Holdings, Inc |
About ClubCorp Holdings, Inc. (NYSE:MYCC)
ClubCorp Holdings, Inc. is a membership-based leisure company. The Company is the owner-operator of private golf and country clubs, and business, sports and alumni clubs in North America. The Company’s segments include Golf and Country Clubs; Business, Sports and Alumni Clubs, and Other. The Company’s Golf and country club operations consist of private country clubs, golf clubs and public golf facilities. The Company’s Business, sports and alumni club operations consist of business clubs, business/sports clubs, sports clubs and alumni clubs. The Company’s portfolio of approximately 210 owned or operated clubs, with over 183,000 memberships, served over 430,000 individual members. Its facilities are located in approximately 30 states of the United States, including California, Georgia, Arizona, Nevada, Colorado, Ohio, Kansas, North Carolina, New York and Florida; the District of Columbia in the United States; Cozumel and Puerto Vallarta in Mexico, and Beijing and Hangzhou in China. ClubCorp Holdings, Inc. (NYSE:MYCC) Recent Trading Information
ClubCorp Holdings, Inc. (NYSE:MYCC) closed its last trading session up +0.10 at 15.45 with 1,267,404 shares trading hands.
