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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) April 26, 2002 (April 26, 2002)
WESTERN RESOURCES, INC.
(Exact Name of Registrant as Specified in Its Charter)
KANSAS 1-3523 48-0290150
(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) 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
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WESTERN RESOURCES, INC.
Item 5. Other Events
On April 26, 2002, Western Resources, Inc. issued the press release
attached to this Form 8-K as Exhibit 99 and incorporated by reference herein,
announcing that Westar Industries, Inc., a subsidiary of Western Resources, is
reviewing alternatives for changing its investment in ONEOK, Inc.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit 99 - Press Release issued by Western Resources, Inc. dated April
26, 2002
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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.
Dated April 26, 2002 By: /s/ Larry D. Irick
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Name: Larry D. Irick
Title: Vice President and
Corporate Secretary
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Exhibit 99
Media contact:
Doug Lawrence
Phone: 785.575.8401
FAX: 785.575.6399
Mail To: News@wr.com
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Westar Industries announces review of alternatives
for changing investment in ONEOK
TOPEKA, Kan., April 26, 2002 - Westar Industries, Inc., a subsidiary of
Topeka, Kan.-based Western Resources, Inc. (NYSE:WR), today announced that it is
reviewing alternatives for changing its investment in ONEOK, Inc.
In an amendment to its Schedule 13D filed with the Securities and Exchange
Commission, Western Resources reported today that Westar Industries is reviewing
alternatives for changing its investment in ONEOK. Among other things, Westar
Industries noted its right to put all or a portion of its interest in ONEOK to
ONEOK and, in the event ONEOK fails to purchase Westar Industries' interest, its
right to seek a third-party buyer within a 16-month period thereafter. Westar
Industries also stated that it may pursue any other means available to it under
the Shareholder Agreement governing ownership of its investment in ONEOK for
changing its investment in ONEOK.
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Western Resources (NYSE: WR) is a consumer services company with interests
in monitored services and energy. The company has total assets of approximately
$6.6 billion, including security company holdings through ownership of
Protection One (NYSE: POI) and Protection One Europe, which have more than 1.2
million security customers. Western Resources provides electric utility services
as Westar Energy to about 640,000 customers in Kansas. Through its ownership in
ONEOK, Inc. (NYSE: OKE), a Tulsa-based natural gas company, Western Resources
has a 44.7 percent interest in one of the largest natural gas distribution
companies in the nation, serving more than 1.4 million customers.
For more information about Western Resources and its operating companies,
visit us on the Internet at http://www.wr.com.
Forward-looking statements: Certain matters discussed here and elsewhere in
this news release 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, liquidity and capital resources, litigation, rate and
other regulatory matters, possible corporate restructurings, mergers,
acquisitions, dispositions, including the proposed separation of Westar
Industries, Inc., from our electric utility businesses and the consummation of
the acquisition of our electric operations by Public Service Company of New
Mexico, compliance with debt covenants, changes in accounting requirements and
other accounting matters, interest and dividends, Protection One's financial
condition and its impact on our consolidated results, environmental matters,
changing weather, nuclear operations, ability to enter new markets successfully
and capitalize on growth opportunities in non-regulated businesses, events in
foreign markets in which investments have been made and the overall economy of
our service area. What happens in each case could vary materially from what we
expect because of such things as electric utility deregulation; ongoing
municipal, state and federal activities, such as the Wichita municipalization
efforts; future economic conditions; legislative and regulatory developments;
competitive markets; and other circumstances affecting anticipated operations,
sales and costs.