- Current report filing (8-K)
June 29 2009 - 4:31PM
Edgar (US Regulatory)
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):
June 25, 2009
METHODE ELECTRONICS, INC.
(Exact name of registrant as
specified in its charter)
Delaware
State of Other Jurisdiction
of Incorporation
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0-2816
Commission File Number
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36-2090085
I.R.S. Employer
Identification Number
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7401 West
Wilson Avenue, Chicago, Illinois 60706
(Address of principal executive offices) (Zip Code)
Registrants telephone
number, including area code:
(708) 867-6777
Not
Applicable
(Former name or former address, if changed since last report)
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)
o
Soliciting
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 1.01 Entry into a Material Definitive
Agreement
On June 25, 2009,
Methode Electronics, Inc., a Delaware corporation (the Company) and
certain of its wholly-owned subsidiaries entered into a Amendment and Waiver
effective as of May 2, 2009 with Bank of America, N.A., as Administrative
Agent and L/C Issuer, and the other Lenders party thereto (the Amendment and Waiver).
The Amendment and Waiver amends and waives certain provisions of the Credit
Agreement dated as of December 19, 2002 (as amended) among the Company as
the Borrower, Bank of America, N.A., as Administrative Agent and L/C Issuer,
and the other Lenders party thereto (the Credit Agreement).
The main purposes of the
Amendment and Waiver are to waive the Events of Default as a result of the
Borrowers non-compliance with Section 6.02(b) and 7.13(b) of
the Credit Agreement for the fiscal quarter ended January 31, 2009 and
amend the Credit Agreement in certain respects, all as more fully set forth in
the Amendment and Waiver. From January 31, 2009 to June 24, 2009
there were no borrowings outstanding. The Amendment and Waiver was entered into
in connection with the Companys announced restructuring initiatives and
impairment charges taken for goodwill and intangible assets.
The foregoing description of
the Amendment and Waiver is not complete and is qualified in its entirety by
reference to the full text of the Amendment and Waiver, a copy of which is
filed as Exhibit 10.1 herewith and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
10.1
Amendment and Waiver and, effective as of May 2, 2009, among the
Company as the Borrower, Bank of America, N.A., as Administrative Agent and L/C
Issuer, and The Other Lenders party hereto.
2
SIGNATURE
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.
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METHODE ELECTRONICS, INC.
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By:
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/s/ Douglas A. Koman
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Douglas A. Koman
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Date: June 29, 2009
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Chief Financial Officer
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3
Exhibit Index
Exhibit No.
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Description
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10.1
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Amendment and Waiver, effective as of May 2, 2009,
among the Company as the Borrower, Bank of America, N.A., as Administrative
Agent and L/C Issuer, and The Other Lenders party hereto.
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4
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