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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) October 22, 1999
(October 22, 1999)
WESTERN RESOURCES, INC.
(Exact Name of Registrant as Specified in Its Charter)
KANSAS 1-3523 48-0290150
(State or Other Jurisdiction of (Commission (Employer
Incorporation or Organization) File Number) Identification No.)
818 KANSAS AVENUE, TOPEKA, KANSAS 66612
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number Including Area Code (785) 575-6300
WESTERN RESOURCES, INC.
Item 5. Other Events
On October 22, 1999, Western Resources, Inc. announced that a FERC judge
certified the settlement agreement and, as a result, no hearings will be
necessary.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit 99.1 - Press release dated as of October 22, 1999, issued by
Western Resources, Inc.
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 thereunto duly authorized.
Western Resources, Inc.
Date October 22, 1999 By /s/ William B. Moore
William B. Moore, Executive Vice
President, Chief Financial
Officer and Treasurer
Date October 22, 1999 By /s/ Leroy P. Wages
Leroy P. Wages, Controller
EXHIBIT INDEX
Exhibit Number Description of Exhibit
99.1 Press release dated as of October 22,
1999, issued by Western Resources, Inc.
Exhibit 99.1
October 22, 1999
Transaction Update
FERC JUDGE CERTIFIES SETTLEMENT,
NO HEARINGS NECESSARY
Western Resources today announced the settlement agreement at the
Federal Energy Regulatory Commission (FERC) in its merger with Kansas City
Power & Light has been certified by a FERC administrative law judge and sent
to the Commission for its approval. As a result, no hearings will be necessary
at the FERC.
"We are extremely gratified that one of the last major steps in the
regulatory approval process is near," said David C. Wittig, Western Resources
chairman of the board, president and chief executive officer. "Today's
decision by the FERC trial judge reinforces our belief that our merger
transaction does not have any negative impact on the regional electric market.
Our momentum continues to build as we focus on closing this transaction by
year end."
The settlement agreement reached on September 14 with the FERC staff and
all of the major parties was contested by only one intervenor, the City of
Wichita, Kansas. In his opinion, the FERC administrative law judge said that
the City of Wichita "has failed to provide a basis for arguing any material
issues of fact . . ."
Westar Energy, which will combine the electric operations of KCPL, KGE
and KPL, will focus exclusively on efficient, safe and reliable electric
service. It will be a publicly traded company on the New York Stock Exchange
with the ticker symbol (WSR).
Wittig said the company will file a request for an expedited ruling from
the full Commission and expects a timely approval by the FERC.
Forward-Looking Statements: Certain matters discussed in this employee
update are "forward-looking statements." The Private Securities Litigation
Reform Act of 1995 has established that these statements qualify for safe
harbors from liability. Forward-looking statements may include words like we
"believe", "anticipate," "expect" or words of similar meaning. Forward-looking
statements describe our future plans, objectives, expectations, or goals. Such
statements address future events and conditions concerning capital
expenditures, earnings, litigation, rate and other regulatory matters, closing
of the KCPL transaction, successful integration of Western Resources' and
KCPL's businesses and achievement of anticipated cost savings, the outcome of
accounting issues being reviewed by the SEC staff, possible corporate
restructurings, mergers, acquisitions, dispositions, liquidity and capital
resources, interest and dividend rates, year 2000 issue, environmental
matters, changing weather, nuclear operations, ability to enter new markets
successfully and capitalize on growth opportunities in nonregulated
businesses, events in foreign markets in which investments have been made, and
accounting matters. Our actual results may differ materially from those
discussed here. See the company's and Protection One's 1998 Annual Report on
Form 10-K and 10K/A, quarterly reports on Forms 10-Q and current reports on
Form 8K for further discussion of factors affecting the company's and
Protection One's performance. Western Resources disclaims any obligation to
update any forward-looking statements as a result of developments occurring
after the date of this employee update.