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AXR > SEC Filings for AXR > Form 8-K/A on 24-May-2013All Recent SEC Filings

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Form 8-K/A for AMREP CORP.


24-May-2013

Other Events


Item 8.01 Other Events.

Reference is made to the Current Report on Form 8-K of AMREP Corporation (the "Company") filed March 22, 2013, reporting the demand of a State of Florida agency that the Company's Palm Coast Data LLC subsidiary ("PCD") repay, within 60 days of March 19, 2013, $1,305,480.73 of the $3,000,000 incentive award PCD received from the State in connection with the project in which the Company's subscription fulfillment services operations were consolidated at PCD's Palm Coast, Florida facility. The demand was made as a result of PCD's failure to meet certain performance requirements of the award agreement for 2010, 2011 and 2012.

On May 22, 2013, PCD received a notice from the State of Florida agency that the payment date for the above referenced amount has been extended to July 31, 2013 as PCD continues to negotiate a settlement of the repayment amount with the State of Florida agency.

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