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1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 8-K Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 6, 1997 ----------------- ST. JOE CORPORATION ------------------- (Exact name of registrant as specified in its charter) Florida 1-10466 59-0432511 -------------------------------- ------------ ------------------ (State or other jurisdiction of (Commission (I.R.S. Employer ) Incorporation) File No.) Identification No.) Suite 400, 1650 Prudential Drive Jacksonville, Florida 32207 --------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (904) 396-6600 -------------- 2 Item 5. Other Events Incorporated by reference is a press release issued by the Registrant on December 6, 1997, attached as Exhibit 99, providing information concerning the Registrant's announcement to sell to the federal government approximately 50,000 acres of Talisman Sugar Corporation. Item 7. Financial Statements and Exhibits (c) Exhibit Exhibit 99 - Press release issued December 6, 1997 3 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. St. Joe Corporation Date December 10, 1997 By: /Charles A. Ledsinger/ ------------------------ ------------------------ Senior Vice President Chief Financial Officer
1 EXHIBIT 99 FOR IMMEDIATE RELEASE CONTACT: Jerry M. Ray December 6, 1997 904-858-2707 ST. JOE TO SELL TALISMAN SUGAR PLANTATION LANDS SUGARCANE FIELDS WILL BE RETURNED TO THE EVERGLADES Jacksonville, Florida - (December 6, 1997) - St. Joe Corporation (NYSE: SJP) chairman and chief executive officer Peter S. Rummell today announced that St. Joe has agreed in principle to sell to the federal government approximately 50,000 acres known as the Talisman Sugar Plantation, located in the Belle Glade area of south central Florida. The purchase price for the land is $133.5 million in cash. St. Joe will be allowed to farm the land for five more crop years. In addition, at that point in time St. Joe has agreed to donate approximately 3,000 additional acres to various non-government organizations. The proposed transaction is subject to the execution of a definitive agreement and appropriate government and corporate approvals. "We announced some time ago that sugar was not a strategic business for us and that we would sell Talisman for a fair price," said Peter S. Rummell, chairman and CEO. "We are proud to demonstrate it's possible to do what's in our shareholders' interest and in the public interest. And, we are proud to play a role, however small, in the restoration of the Everglades." "This is one of those rare occasions where everyone benefits. But those who will benefit most are not yet with us -- the generations to come that will have the opportunity to marvel at the beauty of this magnificent "river of grass." Talisman Sugar Corporation consists of a sugarcane plantation and a sugar mill. Sugar accounted for 13 percent of the St. Joe's net sales and operating revenues in 1996. St. Joe, a publicly held company based in Jacksonville, is Florida's largest private land owner and has interests in real estate, timber, and railroads. ###