SALT LAKE CITY, Dec. 21 /PRNewswire/ -- Franklin Covey (NYSE: FC), a
leading global learning and performance solutions firm, today announced the
close of the sale of its wholly owned subsidiary, Premier, located in
Bellingham, Washington, to School Specialty (Nasdaq: SCHS) for $152.5 million.
In addition to the $152.5 million sales price, Franklin Covey has received a
dividend from Premier of approximately $5 million in cash and will receive a
note for the remaining working capital as of the closing date for
approximately $8 million.
The Company also announced the extension of its tender offer to buy
7.3 million shares of its Common Stock at $6.00 per share to 5 PM Eastern
Time, January 31, 2002. The extension is in response to comments from the
Securities Exchange Commission (SEC) requesting that the offering period be
extended for a minimum of five business days after the closing of the
Company's sale of Premier Agendas to School Specialty. The Company has
elected to extend the offering period to January 31, 2002.
About Franklin Covey
Franklin Covey Co. is a leading global learning and performance services
firm assisting professionals and organizations in measurably increasing their
effectiveness in leadership, productivity, communication and sales. Clients
include 80 of the Fortune 100, more than three quarters of the Fortune
500, thousands of small and mid-sized businesses, as well as numerous
government entities. Organizations and professionals access Franklin Covey
services and products through consulting services, licensed client
facilitators, public workshops, catalogs, 173 retail stores,
http://www.franklincovey.com and http://www.franklinplanner.com . More than 3,000 Franklin
Covey associates provide professional services and products in 44 offices in
38 countries.
SOURCE Franklin Covey Co.
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Related links:
http://www.franklincovey.com
Company News On-Call:
http://www.prnewswire.com/comp/107086.html
CONTACT:
Richard R. Putnam, Investor Relations of
Franklin Covey, +1-801-975-1776
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