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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
September 11, 1998
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Date of Report (Date of earliest event reported)
KELLY SERVICES, INC.
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(Exact name of Registrant as specified in its charter)
Commission File Number 0-1088
Delaware 38-1510762
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(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
999 West Big Beaver Road, Troy, Michigan 48084
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(Address of principal executive offices)
(Zip Code)
(248) 362-4444
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(Registrant's telephone number, including area code)
No Change
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(Former name or former address, if changed
since last report.)
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ITEM 9. SALES OF EQUITY SECURITIES PURSUANT TO REGULATION S
On September 11, 1998, Kelly Services Inc. ("KSI"), through its wholly
owned subsidiaries Kelly Services Deutschland GmbH and Kelly Services
Zeitarbeit GmbH, acquired all of the issued and outstanding quotas of
Workshop Zeitarbeit GmbH, Workshop Zeitarbeit GmbH (Munich), WorkLine
Personnel-Marketing GmbH and WorkNet EDV-Services GmbH. The companies
are engaged in the business of providing employees on a temporary or permanent
basis.
KSI delivered 31,488 shares of its Class A Common Stock from Treasury as
part of the consideration for the quotas. Subject to satisfaction of the
conditions in the agreement and adjustment based on the future price of KSI
Class A Common Stock and currency exchange rates, KSI will deliver up to
approximately 23,600 additional shares over the next three years. The shares
of KSI stock were and will be delivered pursuant to an agreement among KSI,
its subsidiaries and the holders of the quotas of the Workshop group of
companies and Regulation S. The owners of the Workshop group of companies
represented that they were not U.S. persons, the sale and issuance occurred in
Germany in an offshore transaction, offering restrictions were implemented
pursuant to the agreement, and the transaction was otherwise in compliance with
Regulation S. There were no underwriters or other distributors.
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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, thereunto duly authorized.
Kelly Services, Inc.
(Registrant)
Date: September 24, 1998
s/ William K. Gerber
William K. Gerber
Senior Vice President and
Chief Financial Officer
(Principal Financial Officer and
Principal Accounting Officer)