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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
June 24, 2004
(Date of earliest event reported)
GRIFFIN LAND & NURSERIES, INC.
(Exact name of registrant as specified in charter)
DELAWARE 0-29288 06-0868496
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
ONE ROCKEFELLER PLAZA, NEW YORK, NEW YORK 10020
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(Address of principal executive offices) (Zip Code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (212) 218-7910
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(Former name or former address, if changed since last report)
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Item 9. Regulation FD Disclosure
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At the 2004 Annual Stockholders Meeting of Griffin Land & Nurseries, Inc.
("Griffin") held today, Frederick M. Danziger, President and Chief Executive
Officer of Griffin discussed Griffin's recently completed sale of its investment
in Centaur Communications, Ltd. Mr. Danziger stated that from the sale proceeds,
Griffin paid down all of its revolving credit debt and will have approximately
$30 million in cash and liquid investments remaining from that sale after all
income tax payments. Mr. Danziger then stated that Griffin's current plan is to
seek to use the cash for additional real estate investment, however, there are
no specific acquisitions planned at this time. Such investment may or may not
occur based on many factors, including real estate pricing, which Mr. Danziger
stated he believes to be relatively high at the present time.
Mr. Danziger also commented on fiscal 2004 sales at Imperial Nurseries, Inc.
("Imperial"), Griffin's landscape nursery business, stating that current year
sales through the second quarter are about equal to those for the comparable
period last year. Mr. Danziger added that because most of Imperial's annual
sales are made in the spring, it is unlikely that the 2004 full year sales will
show a significant increase over 2003.
In discussing Griffin's real estate division, Griffin Land, Mr. Danziger stated
that Griffin Land had recently leased 54,000 square feet of its new 117,000
square foot industrial building and also recently leased 16,000 square feet of
its 50,000 square foot office building that was previously unleased.
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.
GRIFFIN LAND & NURSERIES, INC.
/s/ Anthony J. Galici
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Anthony J. Galici
Vice President, Chief Financial Officer and
Secretary
Dated: June 24, 2004
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