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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
Date of Report (Date of the earliest event reported)
January 7, 2005
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CompX International Inc.
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(Exact name of Registrant as specified in its charter)
Delaware 1-13905 57-0981653
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) No.)
5430 LBJ Freeway, Suite 1700, Dallas, Texas 75240-2697
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(Address of principal executive offices) (Zip Code)
(972) 448-1400
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(Registrant's telephone number, including area code)
(Former name or former address, if changed
since last report.)
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):
[ ] 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))
Item 1.01 Entry into a Material Definitive Agreement.
On January 7, 2005, the registrant entered into an amendment (the
"Amendment") to its Credit Agreement dated January 22, 2003 with Wachovia Bank,
National Association, a national banking association, as administrative agent
for the lenders that are a party to the agreement (the "Credit Agreement"). The
Amendment:
(i) waives the asset sale prohibition in the Credit Agreement to the
extent necessary to permit a sale of CompX's European subsidiaries;
(ii) waives the mandatory commitment reduction requirements in the
Credit Agreement as it pertains to a sale of CompX's European subsidiaries;
(iii) waives the investment restriction covenant in the Credit
Agreement to the extent necessary to permit CompX to receive partial
payment for a sale of CompX's European subsidiaries in the form of a
subordinated note;
(iv) deletes CompX Europe B.V. and subsidiaries from the subsidiary
schedule to the Credit Agreement; and
(v) releases that portion of the capital stock of CompX Europe B.V.
that is pledged as collateral under the Credit Agreement.
The Amendment becomes effective upon the closing of a sale of CompX Europe
B.V. subject to certain conditions, one of which is the condition that a sale of
CompX Europe B.V. close within one year of the date of the Amendment.
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.
CompX International Inc.
(Registrant)
By: /s/ Darryl R. Halbert
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Darryl R. Halbert, Vice President,
Chief Financial Officer and Controller
Date: January 12, 2005