f8k073109_idt.htm
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 earliest event reported): July 31, 2009
IDT
CORPORATION
(Exact
name of registrant as specified in its charter)
Delaware
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1-16371
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22-3415036
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(State
or other jurisdiction
of
incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification
No.)
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520
Broad Street
Newark,
New Jersey
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07102
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (973) 438-1000
Not
Applicable
(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. below):
¨
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item 2.01
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Completion
of Acquisition or Disposition of
Assets.
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On July
31, 2009, Hillview Avenue Realty, LLC (“Hillview”), a majority owned subsidiary
of IDT Corporation (the “Registrant”), closed on the sale (the “Sale”) of its
properties located at 3373 and 3375 Hillview Avenue in Palo Alto, California
(the “Properties”). The Registrant has a 69.27% interest in
Hillview. The Properties consist of two interconnected office
buildings containing 120,000 square feet located on a 6.68-acre parcel of
land. The purchaser was BGR Associates, a California Limited
Partnership and the purchase price was $62,730,043. The Registrant’s
net proceeds from the Sale, after deduction of the mortgage debt secured by the
property that was assumed by the buyer or repaid in connection with the
transaction, transaction expenses and the interests of the other owners of
Hillview, were approximately $3.1 million.
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.
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IDT
CORPORATION
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By:
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Name:
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James
A. Courter
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Title:
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Chief
Executive Officer
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Dated:
August 6, 2009
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