UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20509
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, 2012
Tejon Ranch Co.
(Exact Name of Registrant as Specified in Charter)
| Delaware | 1-7183 | 77-0196136 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
| P. O. Box 1000, Lebec, California | 93243 | |||
| (Address of Principal Executive Offices) | (Zip Code) | |||
Registrant’s telephone number, including area code 661 248-3000
(Former Name or Former Address, if Changed Since Last Report)
Not applicable
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
TABLE OF CONTENTS
| Item 8.01 | Other Events |
| Item 9.01 | Financial Statements, Pro Forma Financial Information and Exhibits |
Signatures
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| Item 8.01 | Other Events |
Tejon Ranch Co. and it partner, DMB Pacific Ventures, received notice from the 5th District Court of Appeals in Fresno, California that it affirmed in its entirety the ruling of the Kern County Superior Court that the County of Kern properly analyzed and evaluated the environmental effects of Tejon Mountain Village. In its ruling the court rejected each and every claim by the opponents, ruling that the environmental impact report for Tejon Mountain Village was adequate.
| Item 9.01 | Financials Statements, Pro Forma Financial Information and Exhibits |
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SIGNATURES
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.
| Date: April 26, 2012 | TEJON RANCH CO. | |||||
| By: | /s/ ALLEN E. LYDA | |||||
| Name: | Allen E. Lyda | |||||
| Title: | Senior Vice President, and Chief Financial Officer | |||||
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Exhibit 99.1
FOR IMMEDIATE RELEASE
APPELLATE COURT UPHOLDS TEJON MOUNTAIN VILLAGE
Court rules in favor of Kern County, Tejon Ranch Company, & DMB Pacific Ventures,
joint developers of Tejon Mountain Village
TEJON RANCH, CA (April 26, 2012) Tejon Ranch Company and its partner, DMB Pacific Ventures, announced today the 5th District Court of Appeals in Fresno has affirmed in its entirety the ruling of Kern County Superior Court Judge Kenneth Twisselman that the County of Kern properly analyzed and evaluated the environmental effects of Tejon Mountain Village. In its unanimous ruling, the court again rejected each and every claim by the opponents, ruling that the environmental impact report for Tejon Mountain Village was adequate.
“Following the December 2010 decision by Judge Twisselman, the 5th District Court of Appeals has further validated both the level of analysis and adherence to the law, as well as the process followed by Kern County leading to the Board of Supervisors’ unanimous approval of this project in October 2009,” said Robert A. Stine, President and CEO of Tejon Ranch Company.
“We are obviously very pleased with the ruling and believe it’s a further affirmation of the quality and environmental sensitivity of Tejon Mountain Village, and again vindicates the outstanding work of Kern County in preparing and evaluating the environmental report,” said Eneas Kane, President and CEO of DMB Pacific Ventures, LLC.
“It took an extraordinary team of professionals to craft the vision and produce such a thorough and comprehensive plan, and the court’s resounding ruling is validation of the level of detail and science-based approach used in designing the community,” said Stine.
“The appellate court’s decision represents a significant step forward in our efforts to achieve our vision for Tejon Mountain Village, which was first approved by the County, then affirmed by the Superior Court, and now reaffirmed at the appellate level – something almost unprecedented in California,” added Kane.
Tejon Mountain Village will play a key role in the overall conservation of Tejon Ranch, and it was an important consideration during negotiations that led to the historic Tejon Ranch Conservation and Land Use Agreement. Under the Agreement, executed in 2008 by Tejon Ranch Company, Natural Resources Defense Council, Sierra Club, Planning and Conservation League, Endangered Habitats League, and Audubon California, the Ranch agreed to conserve up to 90% of its land and establish the Tejon Ranch Conservancy. The sale of homes within Tejon Mountain Village will generate an on-going funding stream for the operation and activities of the independent Tejon Ranch Conservancy.
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About Tejon Mountain Village
Tejon Mountain Village is located on Tejon Ranch, a 270,000-acre working ranch located about 60 miles north of Los Angeles and 30 miles south of Bakersfield. At more than 26,000 acres, Tejon Mountain Village preserves more than 80 percent of its land as natural open space, making it one of California’s most remarkable, environmentally sensitive mountain resort communities. Tejon Mountain Village is being developed by Tejon Ranch Company and DMB Pacific Ventures, LLC. www.TejonMountainVillage.com.
About DMB Pacific Ventures, LLC
DMB Pacific Ventures LLC is a company formed to manage real estate investments throughout the western United States. More information about DMB Pacific Ventures, LLC can be found online at www.dmbpacificventures.com.
About Tejon Ranch Company
Tejon Ranch Company is listed on the New York Stock Exchange under the symbol TRC. Tejon Ranch is a diversified real estate development and agribusiness company, whose principal asset is its 270,000-acre land holding located approximately 60 miles north of Los Angeles and 30 miles south of Bakersfield. More information about Tejon Ranch Company can be found online at www.tejonranch.com.
CONTACT:
David Crowder - (661) 599-9176, Tejon Mountain Village LLC
Barry Zoeller – (661) 663-4212, Tejon Ranch Company.