|March 31, 2006|
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EFFECTIVE AUGUST 23RD, 2004
SECURITIES AND EXCHANGE COMMISSION
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
|May 4, 2005|
BRANTLEY CAPITAL CORPORATION
|(State or other jurisdiction
|3201 Enterprise Parkway, Suite 350, Cleveland, Ohio||44122|
|(Address of principal executive offices)||(ZIP Code)|
Registrants telephone number, including area code:
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):
|o||Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|o||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|o||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|o||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
Item 8.01 Other Events.
Flight Options, Inc. (Flight Options)
During the course of the Companys April and May 2005 Board of Directors meetings, the Companys directors reviewed the overall market conditions of the general aviation industry, the operating results of Flight Options through December 31, 2004, and its ongoing capital needs including financing proposals being evaluated by the Flight Options Board of Directors. As a result of this analysis, our Board of Directors approved a valuation reduction from $32.5 million to $21.9 million. Giving effect to this valuation reduction, the current fair value of the Companys investment in Flight Options represents an increase of nearly 300% from its original cost, which was $5,562,500.
Item 9.01 Financial Statements and Exhibits.
|(a)||Financial statements of businesses acquired.|
|(b)||Pro forma financial information|
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|BRANTLEY CAPITAL CORPORATION
|By:||/s/ Tab A. Keplinger|
|Tab A. Keplinger|
|Vice President and Chief Financial Officer|
Dated: May 19, 2005