Current Report Filing (8-k)
May 19 2016 - 5:27PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 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):
May
13, 2016
Canterbury
Park Holding Corporation
(Exact
name of registrant as specified in its charter)
Minnesota
(State
or Other Jurisdiction of Incorporation)
001-31569
|
41-1775532
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
1100
Canterbury Road, Shakopee, Minnesota
|
|
55379
|
(Address
of Principal Executive Offices)
|
|
(Zip
Code)
|
(952)
445-7223
(Registrant’s
telephone number, including area code)
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
(
see
General
Instruction A.2. below)
:
⃞
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
⊠
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
⃞
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
⃞
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 2.01 – Completion of Acquisition or Disposition of Assets
On May 19, 2016, Canterbury Park Holding Corporation (the “Company”)
announced it had completed two significant real estate transactions.
On May 13, 2016, the Company completed the sale of 23.8 acres of land on
the North side of its Racetrack property to United Properties for
approximately $4.3 million. United Properties paid approximately $1.1
million of the purchase price in cash and issued the Company two
promissory notes for the remaining approximately $3.2 million. The
promissory notes provide for payment over a three-year period at an
interest rate of 1.43% and are secured by a mortgage on the property
sold.
On May 13, 2016, the Company also completed the purchase of
approximately 32 acres adjacent to the Racetrack from Eugene and Jane
Hauer for a purchase price of $4.88 million, under a December 2015
agreement.
More information about these two transactions is contained in a press
release dated May 19, 2016 (May 19, 2016 Press Release), a copy of which
is filed as Exhibit 99.1 to this Form 8-K.
The Company had reported its entry in these two agreements in its Form
10-K for the year ended December 31, 2015.
Item 8.01-- Other Events
In the May 19, 2016 Press Release, the Company also provided updated
information about its real estate development process.
Item 9.01 -- Financial Statements and Exhibits
(d) Exhibits
Exhibit
Number
|
Description
|
99.1
|
Canterbury Park Holding Corporation Press Release dated May 19, 2016
|
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 hereunto duly authorized.
|
|
CANTERBURY
PARK HOLDING CORPORATION
|
|
|
|
|
|
Dated:
|
May
19, 2016
|
By:
|
/s/
Randall D. Sampson
|
|
|
|
|
Randall
D. Sampson,
|
|
|
|
|
Chief
Executive Officer
|
|
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