SKYLINE CORPORATION (NYSEMKT:SKY) Files An 8-K Completion of Acquisition or Disposition of Assets
Item2.01
| Completion of Acquisition or Disposition of Assets. |
On April11, 2017, Skyline Corporation (Corporation) completed its
sale of certain improved real property and certain equipment
located in Mansfield, Texas to Champion Home Builders, Inc. The
amount and nature of the consideration to be received for the
assets sold included:
| A non-refundable cash payment of $1,000; |
| A good faith cash deposit of $99,000; and |
|
A cash payment of $2,125,000 received at the Closing less prorated property taxes of $25,000 and selling expenses of approximately $13,000. |
| Item5.03 |
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. |
On April11, 2017, the Corporations Board of Directors approved an
amendment to Article I Section3 of the Corporations Bylaws. This
amendment is effective June1, 2017, and changes the fiscal year
to a 52-53 week year ending on the Sunday which is nearest to the
last day of May in each year. Article I Section3 currently states
that the Corporations fiscal year begins on the first day of June
and ends on the close of the last day of May next succeeding.
| Item9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
|
Exhibit No. |
Description |
|
| 3(ii) |
Amended and Restated By-Laws of Skyline Corporation (Amended and Restated as of June1, 2017). |
About SKYLINE CORPORATION (NYSEMKT:SKY)
Skyline Corporation designs, produces and markets manufactured housing, modular housing and park models to independent dealers and manufactured housing communities located throughout the United States and Canada. As of May 31, 2016, the Company sold 3,217 manufactured homes, 360 modular homes and 337 park models. Its housing products are marketed under a number of trademarks. They are available in lengths ranging from 30 feet to 76 feet and in singlewide widths from 12 feet to 18 feet, doublewide widths from 18 feet to 32 feet, and triplewide widths from 36 feet to 46 feet. As of May 31, 2016, the area of a singlewide ranges from approximately 400 to 1,200 square feet, a doublewide from approximately 700 to 2,400 square feet, and a triplewide from approximately 1,600 to 2,900 square feet. The Company’s Modular homes are built according to state, provincial or local building codes. Park models are marketed under the Shore Park trademark. SKYLINE CORPORATION (NYSEMKT:SKY) Recent Trading Information
SKYLINE CORPORATION (NYSEMKT:SKY) closed its last trading session down -2.35 at 6.10 with 313,271 shares trading hands.