COLLECTORS UNIVERSE, INC. (NASDAQ:CLCT) Files An 8-K Results of Operations and Financial ConditionItem 2.02
Results of Operations and Financial Condition
As discussed below, on August 2, 2017, Collectors Universe, Inc. (the “Company”) issued a press release reporting that Robert G. Deuster, the Company’s Chief Executive Officer (“CEO”), will be retiring effective on the appointment of his successor. That press release disclosed the percentage increase in the number of collectibles authenticated and graded by the Company in its fiscal year ended June30, 2017 over the number authenticated and graded in fiscal 2016. A copy of that press release is attached as Exhibit 99.1, and by this reference is incorporated into, this Current Report on Form 8-K.
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Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
On August2, 2017, the Company announced that Robert G. Deuster has decided to retire as the Company’s CEO effective on the appointment of a successor CEO. Mr. Deuster’s decision to resign was not the result of any disagreement with the Company or the Board on any matters relating to the Company’s operations, policies or practices. Instead, Mr. Deuster informed us that his decision was prompted by his desire to spend more time with his family. Mr. Deuster will, however, remain as a member of the Company’s Board of Directors.
The Company has retained a nationally known executive search firm to commence a search for Mr. Deuster’s successor.
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Item 7.01 |
Regulation FD Disclosure |
On August2, 2017, the Company issued a press release announcing the retirement of Mr.Deuster as Chief Executive Officer of the Company, effective on the appointment of a successor CEO. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
In accordance with General Instruction B.2 of Form 8-K, the information in Item 5.02 above and in this Item 5.02 of this Report, and Exhibit 99.1 hereto, are being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, nor shall such information or that Exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
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ITEM 9.01 |
Financial Statements and Exhibits. |
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Exhibit No. |
Description |
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99.1 |
Press release issued on August2, 2017 announcing the retirement of Mr. Deuster as theCompany’s CEO effective on the appointment of a successor CEO. |
COLLECTORS UNIVERSE INC ExhibitEX-99.1 2 ex99-1.htm EXHIBIT 99.1 ex99-1.htm Exhibit 99.1 Chief Executive Officer Robert Deuster to Retire Following Appointment of SuccessorMr. Deuster to Continue as a Member of the Board of Directors NEWPORT BEACH,…To view the full exhibit click here
About COLLECTORS UNIVERSE, INC. (NASDAQ:CLCT)
Collectors Universe, Inc. provides authentication and grading services to dealers and collectors of coins, trading cards, event tickets, autographs and historical and sports memorabilia (collectibles). The Company operates through three segments: coins, trading cards and autographs, and other collectibles. The Company is engaged in the authentication, grading, publication and Web-based advertising, subscription-based business and product sales. The other collectibles segment includes the Certified Coin Exchange (CCE) subscription business, the Coinflation.com business and its collectibles conventions business. The Company is also engaged in selling of printed publications and collectibles price guides and advertising in such publications; selling of membership subscriptions in its Collectors Club; selling of subscriptions to its CCE dealer-to-dealer Internet bid-ask market for certified coins and to its CoinFacts Website, and conducting collectibles trade shows and conventions.
